The continued growth of alternate construction delivery methods, green building, urban renewal and infill, new approaches to financing, and massive mixed-use projects is creating both opportunities and additional risks in Real Estate Development and Acquisition. As commercial property development grows more complex every year, identifying, attracting, hiring, and retaining quality leaders is becoming more critical even as it becomes more difficult and more time-consuming.
Many Real Estate Development and Acquisition firms choose to outsource the search, qualification, and recruitment of executive candidates. It’s a good idea for several reasons. Using an executive search firm that specializes in Real Estate Acquisition and Development exposes your company and the empty position to thousands of the best candidates – even those not actively seeking a new job. Recruiting firms sift through applicants, delivering only the most qualified, in terms of technical ability and compatibility with your corporate culture.
Simply hiring a recruiting firm, however, is not enough. To feel comfortable in its selection of a recruiting partner, a Real Estate Development and Acquisition company should insist the recruiting organization understands the intricacies of this dynamic industry. The following checklist is useful in selecting a recruiter with whom to work:
- Does the recruiting firm consider the job search a partnership with the property development firm? A partner – as opposed to merely a vendor – will provide regular updates on the search, initiate discussion with the company’s personnel department, and offer and accept guidance on the process. This begins well before the actual search and incorporates brainstorming on the process and specific goals the eventual hire will help accomplish.
- Does the recruiter take the time to understand the client’s niche in the development landscape? A great recruiter will seek input on how your company’s culture, size, geography, specializations, and target markets influence the skills desirable in the applicants for the job you’re filling. International Search Consultants targets the exact skill sets you need, often finding the ideal candidate among direct competitors.
- Is the recruiter sensitive to the need for inclusiveness in the recruiting process? The recruiting partner should have the goal and the ability to attract candidates with diverse backgrounds and skill sets within the general job requirements. Top recruiters will have a pool of not only active candidates, but also, industry contacts, professional associations, educators, and others who can recommend passive candidates that may be willing to consider a new challenge.
- Will the recruitment firm assist in presenting the job offer and negotiating terms once it locates the perfect candidate? ISC’s Real Estate Acquisition & Land Development recruiting service can help firms craft competitive compensation packages based on comparative data from other professionals within the same geographic market.
Considering the impact executive leaders exert on a Real Estate Development and Acquisition company’s bottom line, using a professional recruiter makes sense. Hiring a recruiter often pays for itself by taking on tasks that otherwise would tie up company executives and resources, freeing them for strategic and value-added activities. Before entering an agreement, however, make sure your recruiter will be a true partner, not merely a hired hand.
International Search Consultants (WWW.ISCJOBS.COM) has been a leader in Real Estate Acquisition and Development Executive Search since 1999. You can reach Carolyn McClendon, Director of ISC’s Real Estate division directly at 888-974-0086 or via e-mail at