Last week’s hint of an upcoming interest rate cut offered hope for commercial real estate and the broader economy. However, after two years of high rates and challenges for CRE companies, particularly brokerages, optimism alone won’t revive the labor market.
Hiring remains cautious due to high attrition, aging executives complicating succession plans, leadership transitions, and a lack of transactions.
“There’s a lot of frustration as the job market hasn’t caught up,” said Allison Weiss, CEO and founder of CRE Recruiting. “Companies are doing more with less, budgets are tighter, and many co-workers who left haven’t been replaced. People are being called back to the office, adding to the frustration.”
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