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Developments

Wanted Real Estate Industry Increasing Hiring

The employment outlook for the real estate industry for executive, professional, and sales personnel is strong and, a recent hiring survey says, it will remain brisk throughout 2000. Of the executives with hiring responsibility in the industry, 48.1 percent indicated that they intend to increase their staffing in the second half of the year according to the survey conducted by Management Recruiters International (MRI). Additionally, 51.9 percent plan to maintain their staff at current levels, and none indicated that they plan to decrease the size of their staff.

By comparison, across all industries, 53.2 percent of the 3,615 executives polled, projected new hires for the second half of 2000 and 35.6 percent plan to maintain current staff sizes, while 11.2 percent plan to decrease staff size.
   
  "The real estate industry is directly benefiting from this financial boom. Companies and individuals have an increased amount of money to spend on real estate, there is a need for more real estate professionals and executives to service these customers."
—Allen Salikof
 
   

"The year 2000 continues to be one of the strongest economies in U.S. history and one of the most competitive job markets we've ever seen," noted Allen Salikof, president and CEO of MRI. "The real estate industry is directly benefiting from this financial boom. Companies and individuals have an increased amount of money to spend on real estate, there is a need for more real estate professionals and executives to services these customers."

For an in-depth look at the current recruiting and retention challenges faced by real estate companies in this dynamic economy, see "The Hunt Is On," of this issue. For a perspective on the new economic realities for executive compensation see "Hitting the Grand Slam."


Real Estate Portfolio® is the magazine for REITs and real estate investment.

It is published bimonthly by the National Association of Real Estate Investment Trusts® (NAREIT),
1875 I Street, NW, Suite 600, Washington, DC 20006–5413.
Phone 202-739-9400.