Real Estate Recruitment Problems - Top Solutions To Staffing Challenges

Recruiting real estate professionals can be tricky. Not only has the industry become a competitive battleground, but there are also problems with the overall labor market exacerbating the situation way out of proportion.

Fortunately, if you know what you’re doing, have patience, and some extra cash set aside, you can navigate around these obstacles in a short period. 

If not, Griffin Global offers real estate consulting - we can help you address any staffing issues and also assist you in conserving your human and financial resources. Still, it doesn’t hurt to be familiar with the common recruitment setbacks in the real estate industry.

1. Shortage Of Candidates

The biggest challenge in recruiting is finding enough qualified candidates. While this particular problem has always been there, it was only made worse by the ongoing talent shortage affecting practically every industry. 

Yet, just because it’s a big problem doesn’t mean it’s hard to address. In fact, you can fairly quickly see success by making a small adjustment in your talent acquisition practices. 

The mistake repeated by a great deal of real estate organizations is the fact they are passive and source candidates only when needed. This makes it impossible to cultivate a talent pool they can draw from when the time for hiring someone new finally comes.

In other words, you need to be proactive. Always be on the lookout for prospective employees that you can recall at a moment’s notice when a position becomes vacant. You’ll be able to fill the empty role faster and also ensure the organization-wide productivity stays on a relatively consistent level. 

2. Long hiring times

Because we spent years in real estate consulting and helped many organizations solve their staffing difficulties, we’ve seen firsthand how inefficient some companies are when it comes to hiring. Sure, it’s perfectly natural to take a longer time to source for high-level positions, but if it takes you a month to hire someone regardless of the level, you’ve got a problem. 

For starters, the longer the position stays vacant, the bigger the impact will be on your organization’s productivity. By extension, you’ll waste more human resources on hiring, which will end up costing you a lot of money in the long run. 

To shorten the company’s time-to-hire, take a closer look at the established hiring process. Are there too much stages that don’t help but just detract candidates? Does the recruitment team have trouble with effective communication? 

Here’s a guide on improving your hiring process you may find useful to unlock the “secrets” of successful recruitment.

3. You can’t cut through the noise

Although you can always rely on real estate consulting for your recruiting needs if you’re unable to meet company hiring goals, it still won’t do anything to strengthen your brand. Real estate firms often have trouble standing out from the crowd as way too many companies are just about the same. 

This will also creep up in the form of staffing challenges as you won’t be able to grab the attention of the top talent you’re trying to attract. 

The best way to solve this is to actively work on branding. A company established as a major player in the area will have less trouble attracting new candidates and higher-quality clients. Start by improving the company website and building a social media presence. You can create and share valuable content portraying your company in a positive light, invest money in marketing, etc. 

With a solid brand, you can make a lasting impression on in-demand professionals when trying to secure their services. 

4. You’re losing candidates to your competitors

In a similar fashion, you may lose prospective hires to the competition. Those are the rules of the game: if they’re getting multiple offers, it’s on them to make what they believe are the best career choices. However, this shouldn’t stop you from demonstrating that working for you is the right choice. Start by offering top-notch candidate experience. 

A good practice is providing the candidates with a timeline of the hiring process and letting them know when they can expect to hear from you again. This serves the purpose of preventing frustration and minimizes the chances of them choosing a different company while they are waiting to get a call from you.

A good rule of thumb is to update them on everything. For instance, if their application is under review, let them know. If they passed the initial screening process, make certain to notify them. 

You can also position yourself as a better option by improving the interviewing experience. Shift your perspective regarding the interview. You’re not the one calling all the shots as the candidate is also gauging you and comparing you to other companies. 

Be ready to answer questions regarding compensation, company culture, and the responsibilities they will have. The interview allows the candidate to get a taste of working for you, so make sure you don’t drop the ball because you couldn’t come up with an answer on the spot. 

5. High employee turnover rates

Even if you do manage to snag a candidate, it’s a completely different thing to inspire them to stay. Employee turnover is a major problem in almost every industry, and it can severely impact productivity in an organization while also costing a lot of money. 

As pros in real estate consulting, we’ve helped numerous firms reduce employee turnover. Our first recommendation is to always keep track of employee satisfaction. 

You can try minimizing employee burnout, working on their benefits packages, offering more flexibility, providing a raise, etc. Whatever it may be, most employees will appreciate the effort. As a result, they’ll be less likely to leave a company that views them as something more than just a name on the payroll. 

Set Yourself Up For Success

We live in a world where employers no longer hold power over the hiring process. The sooner you accept the fact that offering employment is no longer enough, the sooner you’ll be able to tackle the ongoing staffing challenges.

Still, not all companies have the time or money to implement these changes. There’s no shame in that and it doesn’t make your company any less worthy - you wouldn’t be the first one to leverage real estate consulting in an effort to overcome staffing challenges

By signing up with Griffin Global, you can cut down on your overall hiring costs and focus on business-critical tasks while someone else is proactively recruiting for you 24/7.

Fill out our contact form or ring up (855) 747-4334 and turn staffing into a non-issue for good.