Talented Individuals are Reconsidering Real Estate

by | Jun 7, 2023

Commercial real estate is in trouble.Business icons and real estate experts agree, the stubbornly high vacancy rates combined with rising interest costs may soon cause a meltdown in this sector of the economy.While the surface factors causing this financial pain are obvious, the root causes for the problems are more difficult to quantify.Last week, the Wall Street Journal zeroed in on one of these causes that may have an unintended, but positive effect on residential real estate.The underlying cause they highlighted was the reluctance many professional workers are expressing when asked to return to downtown offices. Why such resistance?   It boils down to money.One commuter estimates he will have to spend an extra $10K per year on commuting expenses when he returns to the office.A 25-year-old employee, who lives outside Washington, D.C, says she spends $2,100 on childcare and $450 on gas monthly now that she is working up to three days a week in the office.These are not low-skilled employees who are working retail and hospitality jobs.They’re professionals who are frustrated by giving up $10K – $30K of their salaries to meet the “come back to the office” requirements many employers are imposing.At this juncture, some of these talented employees are looking at residential real estate opportunities because they can stay in their community and better balance childcare. Real estate agents were the original work-from-home pioneers.As the job market changes, forward thinking brokers are well-positioned to upgrade their talent pools by capturing some of the most talented individuals in the marketplace.


The Simple Psychology of Real Estate Recruiting [eBook]

Unlock the secrets of effective real estate recruiting and learn how you can build trust, foster rapport, and understand the psychology behind candidate decisions. Discover techniques for converting acquaintances to hires and retaining agents by addressing their needs and aspirations.