How to Recruit Top Real Estate Executives During a Nationwide Talent Shortage 🏢💼

EPS Team
Nov 1
6 min read

Updated: 6 days ago

The commercial real estate (CRE) industry is facing a historic challenge: attracting and retaining top executive talent in the midst of a nationwide labor shortage. 🌎 From Chief Operating Officers managing multi-billion-dollar portfolios to VPs of Development leading complex construction projects, the competition for skilled executives has never been fiercer.

According to the Bureau of Labor Statistics (BLS, 2025), job openings in the real estate, rental, and leasing sectors remain 30% above pre-pandemic averages. The National Association of Realtors (NAR, 2024) also reports that 62% of CRE firms increased hiring in the past year to meet rising demand in multifamily, industrial, and senior living sectors. Meanwhile, Deloitte’s 2024 Commercial Real Estate Outlook indicates that 67% of CRE executives cite talent acquisition as their top organizational challenge.

With such high stakes, traditional hiring methods like job postings or internal promotions are often not enough. To compete in today’s talent market, CRE firms need strategic, proactive, and relationship-driven recruitment methods. This guide explains how to successfully recruit top CRE executives during a nationwide talent shortage.

Understanding the Nationwide CRE Talent Shortage 🧠⚠️

The shortage of senior talent in commercial real estate is driven by several structural and demographic factors:

Aging Leadership Pipeline 👴➡️👨‍💼

A significant portion of CRE executives are nearing retirement age. According to the Cornell Baker Program in Real Estate (2024), the median age of senior CRE executives is 55 years old, and over 40% are expected to retire within the next 5–7 years. This mass retirement wave leaves a gap in experience and leadership that younger professionals are not yet ready to fill.

Talent Migration to Other Industries 🌐💻

Younger professionals are increasingly moving to technology, private equity, or proptech startups that offer flexible work models, higher compensation, and faster career growth. A 2023 CBRE study found that 38% of millennial real estate professionals were considering switching industries due to better opportunities elsewhere.

Evolving Skill Requirements 📊💡

Modern CRE leadership requires more than property management experience.

Today’s executives must have skills in:

Data analytics for portfolio optimization 📈
ESG and sustainability initiatives 🌱
Proptech integration and digital workflows 💻
Cross-border investment knowledge 🌎

Candidates with these competencies are scarce, making the recruitment process more challenging for firms relying on traditional hiring pipelines.

High Competition in Key U.S. Markets 🏙️🔥

Top executive talent is concentrated in major markets like New York City, Los Angeles, Dallas, Chicago, and Miami, but demand is also rising in secondary growth markets like Nashville, Phoenix, Charlotte, and Denver. Firms across the country are competing for the same limited pool of executives, driving up compensation and making speed-to-hire a critical factor.

The Impact of the Talent Shortage on CRE Firms 💔

The shortage of top-tier executives has real consequences for CRE organizations:

Slower Project Timelines ⏳ – Without experienced leadership, development projects can experience delays, missed deadlines, and cost overruns.
Operational Inefficiencies 🏗️ – Senior leaders are critical for optimizing property management, tenant relations, and capital expenditures.
Investor Confidence Risks 📉 – Investors look for strong leadership to protect asset value and drive growth; leadership gaps can undermine confidence.
Higher Turnover Costs 💸 – Replacing senior executives is expensive. According to WorldatWork (2023), the total cost of replacing a C-level executive averages 1.5–2x their annual salary.

In short, the inability to attract top CRE talent can affect every level of an organization—from operations to long-term growth and profitability.

How to Recruit Top CRE Executives During a Talent Shortage 🚀

Recruiting executives in this environment requires a strategic, multi-faceted approach. The following methods have been proven effective for CRE firms nationwide:

Partner With a Specialized Commercial Real Estate Executive Search Firm 🤝🏢

Working with a commercial real estate executive search firm is one of the fastest ways to access top-tier talent. Firms like Executive Property Staffing, LLC maintain deep networks of passive and active CRE executives nationwide, including candidates not actively seeking new opportunities.

Specialized firms bring several advantages:

Faster time-to-fill – Data shows that executive search firms can fill senior CRE roles 50% faster than in-house recruiting.
Higher retention rates – Executive placements through specialized recruiters have 98% retention in the first year.
Access to hard-to-reach candidates – Many top executives are passive and won’t respond to standard job postings.

By partnering with a dedicated CRE executive recruiter, firms can focus on strategy while the recruiter handles sourcing, vetting, and negotiations.

Define a Clear Role and Employer Value Proposition (EVP) 🎯✨

Before beginning a search, it’s critical to define:

Key responsibilities and strategic objectives – What outcomes must this executive deliver in the first 12–24 months?
Required skills and experience – Beyond traditional CRE knowledge, which technical, leadership, or ESG competencies are essential?
Compensation and incentives – Competitive salary, bonuses, and benefits are table stakes. Many CRE executives also value equity participation, profit sharing, or long-term incentives.
Cultural fit – Leaders want alignment with mission, values, and organizational culture.

Clearly defining these factors ensures that outreach is targeted and increases the likelihood of attracting high-quality candidates.

Leverage Proactive Sourcing and Headhunting 🔍🕵️‍♂️

In today’s competitive market, reactive recruiting doesn’t work.

Proactive headhunting strategies are essential:

Use LinkedIn Sales Navigator and CRE-focused professional networks to identify top candidates.
Reach out directly to passive candidates with tailored messaging that highlights unique opportunities.
Build long-term relationships with top talent—even if they’re not ready to move immediately.

According to LinkedIn Talent Solutions (2024), 70% of hires in senior-level roles come from proactive sourcing rather than applications. This highlights the importance of targeting top executives rather than waiting for them to apply.

Streamline Hiring Processes for Speed ⏱️💨

Top executives don’t stay on the market long. Data from Harvard Business Review (2023) shows that the average hiring window for C-level CRE executives is now just 45 days. Firms that delay interviews, approvals, or offer negotiations often lose candidates to competitors.

Strategies to accelerate hiring include:

Pre-defining interview panels and schedules 📅
Fast-tracking approvals for competitive offers ✅
Maintaining transparent, consistent communication with candidates 🗣️

Emphasize Career Growth and Modern Skills 🌱📊

Executives today are drawn to opportunities for impact, innovation, and growth, not just salary.

Highlighting opportunities such as:

Leading sustainability and ESG initiatives 🌿
Driving digital transformation and proptech integration 💻
Expanding regional or national portfolios 🌎

These elements differentiate your firm from competitors and appeal to top-tier talent who want to leave a lasting mark on the industry.

Offer Competitive Compensation and Incentives 💰🏆

The CRE talent shortage has driven up salaries for top executives. Mercer (2024) reports:

Median base salary for a VP of Asset Management: $190,000–$250,000
Median base salary for a Director of Development: $175,000–$230,000
Total compensation packages, including bonuses and incentives, can exceed $300,000–$400,000

Creative incentive structures, like equity participation in projects or performance-based bonuses, can make offers more attractive without significantly increasing base salaries.

Build a Strong Employer Brand 📣🌟

Even executives consider company reputation when evaluating opportunities.

CRE firms should:

Highlight portfolio successes and growth metrics
Showcase community impact and ESG initiatives
Share employee satisfaction data and leadership testimonials

A strong employer brand attracts passive candidates and builds credibility in a competitive market.

Expand Talent Pipelines to Non-Traditional Sources 🌐💼

In addition to targeting traditional CRE talent, firms can:

Recruit from related industries like construction management, investment banking, or tech-enabled real estate platforms
Partner with universities with strong real estate programs to develop future leadership
Consider diverse candidate pools to bring in fresh perspectives and innovation

According to McKinsey (2023), companies with diverse leadership teams outperform peers by 25% in profitability, making inclusivity both a strategic and competitive advantage.

Regional Considerations for Nationwide Recruitment 🌎📍

Recruiting top CRE executives requires understanding regional labor market trends:

New York City: High competition for finance-savvy leaders in commercial office and mixed-use developments.
Los Angeles: Focus on multifamily, industrial, and development leaders with sustainability expertise.
Dallas / Houston: Growing industrial and logistics markets require executives with portfolio management and development experience.
Miami: Luxury residential and senior living developments demand executives familiar with international investment.
Secondary Markets (Denver, Nashville, Charlotte, Phoenix): These fast-growing regions offer opportunities for executives seeking leadership in high-growth portfolios.

Tailoring your recruitment strategy to regional trends increases your chances of finding qualified, motivated executives.

Metrics to Track Success in CRE Executive Recruitment 📊✅

To measure the effectiveness of your recruitment strategy, track:

Time-to-fill – Average days from posting to acceptance
Retention rates – Percentage of executives retained after 12 months
Candidate quality – Percent of interviewed candidates meeting skill and experience criteria
Offer acceptance rate – Percent of candidates who accept offers

Tracking these metrics helps refine your approach and ensures your firm remains competitive during the talent shortage.

Conclusion: Act Now to Secure Top CRE Talent ⚡🏆

The nationwide CRE talent shortage is not a temporary challenge—it’s a structural reality that requires proactive, strategic, and expert-led recruiting. Firms that rely solely on traditional hiring methods risk losing out on the best executives, slowing growth, and undermining investor confidence.

By:

Partnering with a commercial real estate executive search firm
Clearly defining roles and EVP
Leveraging proactive sourcing and headhunting
Streamlining hiring processes
Offering competitive compensation and growth opportunities
Building a strong employer brand

…CRE firms can successfully recruit and retain the executive leaders they need to thrive. 💪🏢🌟

Executive Property Staffing provides expert property management staffing and recruiting services for multifamily, commercial, and mixed-use properties. We place top talent in executive, regional, and onsite roles, helping firms enhance operations, boost tenant satisfaction, and achieve sustainable growth.

For organizations seeking nationwide placement of top CRE talent, Executive Property Staffing, LLC specializes in connecting commercial real estate, multifamily, property management, and senior living firms with experienced executives across the United States. Reach out today to elevate your leadership team. 📞✉️