Real estate professionals flood market with CVs, recruitment standards change

Candidates for executive positions in real estate are now having to accept positions they would previously have rejected, says Rasmussen. The companies which hold good market positions, have equity and are expanding their teams will “cherry pick the best people on the market.” Real estate players are for the first time looking for people with experience as turnaround managers. “But there are very few people with the necessary experience to be working under the crisis circumstances. There are probably fewer than 20 real estate professionals working locally who have witnessed other crises,” says the partner.
Most real estate companies on the local market are not looking to expand at times like this, which is reflected in the activity of executive search companies. “We are doing half the work we used to do on real estate,” says Rasmussen.
The downturn on the real estate market will hit the mass of inexperienced people who “made too much money for too long,” says Rasmussen. Some workers are simply leaving the real estate market and heading for other industries. He believes some real estate professionals on the market used to be excessively compensated by actual value comparison to other markets. “Nowadays, somebody with years of experience from Western European markets could come cheaper to hire than those working locally,” Rasmussen concludes.
Corina Saceanu