While other industries bemoan the nationwide talent shortage, commercial real estate hiring managers face a cascade of additional challenges, including not only increased competition for workers, but also an uncertain market and a shifting meaning of what it means to be a broker. All of these factors together, compounded by a steady stream of bad economic news, have injected a dose of caution into the formerly red-hot market for commercial real estate jobs. Required to make top-dollar offers to stay competitive, firms are holding positions open for longer or avoiding filling them altogether, creating a chilling effect. “It’s like when the music goes off at 2 a.m. in a club,” CRE Recruiting founder and principal Allison Weiss said. “I hate that we’re in unprecedented times, and I’d like to never hear that phrase again.” 
The economy-wide talent shortage had already impacted CRE hiring, Weiss said, with many firms feeling compensation had become artificially high.CEL & Associates CEO Christopher Lee, whose firm closely monitors industry salary data and CRE compensation, told Bisnow earlier this week that “bottom line … employers are having to adjust to…  Read the full story here. | 
