Roughly 60% to 70% of all commercial real estate firms are facing a talent shortage or talent challenge, according to a leading industry analyst, a hindrance to performance that, in part, comes from long-term issues with attracting and developing the best staff. CEL & Associates CEO Christopher Lee, whose firm releases a widely read CRE compensation study every year, said that Covid and a shift toward hybrid work have created challenges for the industry. The sudden acceleration of deals this year, after the pandemic slowdown of 2020, also contributed to a booming marketplace where it seems like every firm is hiring at once. 
But the current problem finding talent has stemmed in large part from existing issues within the industry, Lee said. Roughly 44% of workers in CRE are over 50, a demographic concentration that creates a bottleneck that stymies youth hiring, mobility, and career advancement (other industries typically are 25% to 30%…  Read the full story here. | 
