The Real Estate Job Market is ROUGH Right Now - Here's The Good News

The Real Estate Job Market is Terrible Right Now, But Here's The Good News //
SelectLeaders, which is arguably the biggest and most reputable commercial real estate job posting site out there, saw a 26% drop in listings for roles requiring 0-4 years of experience between May of 2023 and May of 2024, and an even bigger drop in these listings of 35% between May of 2022 and May of 2023.
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​Together, this has resulted in a cumulative 52% decrease in job postings for early-career professionals from the peak, which has created a pretty discouraging environment for college graduates and young professionals looking to transition into this industry.
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But even though it might not feel like it, the current state of the hiring market could actually be a really good thing for your career if you’re committed to commercial real estate long-term, and this video breaks down why I think this is the case if you’re looking to break into this industry in 2024.
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RentCast: rentcast.io?via=breakintocre
🕒 Timestamps 🕒
0:00 Introduction
1:12 It's Not Easy
2:41 Distress Exposure
4:13 Building a Track Record
7:03 What To Do Next
#commercialrealestate #realestatecareers
*Nothing in this video should be construed as tax, legal, accounting, valuation, or financial advice or recommendation. All information in this video is intended solely for educational purposes, and you are advised to consult with your own personal professional advisors regarding your personal investment decisions.
**AFFILIATE DISCLOSURE: Some of the links in this description are affiliate links, meaning, at no additional cost to you, we may earn a commission if you click through and make a purchase and/or create an account.
Research and articles referenced in this video:
www.bisnow.com/national/news/...
www.cbre.com/insights/figures...
www.cnbc.com/2024/06/18/nvidi...
finance.yahoo.com/news/ai-tec...
www.reuters.com/markets/rates...
www.greenstreet.com/insights/...
www.forbes.com/sites/richardm...
yieldpro.com/2024/02/multifam...
www.cbre.com/insights/figures...
commercialobserver.com/2024/0...

[@BreakIntoCRE]

What has your experience been like when applying for real estate jobs lately?

[@lexieredfearn478]

Thank you for the words of encouragement! I’m an appraiser with 3 years of experience looking for a new job in the DC area. I’ve been looking for about 2 months now and almost considered getting another job that just pays the bills in the meantime. Again thank you for the encouragement

[@keyvonk98]

Totally agree. My internship has ended with a development firm and I’ve been looking for a job for 3 months now. Discouraging at times but I know I have to double down and keep working! Appreciate you Justin!

[@petercitterio4467]

In the same situation 😂

[@BreakIntoCRE]

The fact that you landed an internship with a development firm in the first place in this environment is a huge win - keep working hard and good luck!

[@charliecental5657]

@@BreakIntoCREIs this because these people are looking for a salary of some sort? I mean, instead of straight commission as a agent?

[@brycebixon3007]

I graduated from the real estate program at UW-Madison, I’ve been applying to jobs for about 3 months. I’ve had a handful of interviews, no offers yet. Frustrating when many analyst roles want 1-3+ years of experience. Love your videos btw

[@davethabrave6539]

Thanks for the encouragement Justin! I’ll be graduating from my MSIRE program in December and have 2 solid internships under my belt. When I graduated from undergrad Dec. 2023, it was very difficult to land a job, so that’s why I pursued the MSIRE… I feel good about the future though.

[@DannySims]

I work in non-resi property management in Southern California. There's a lot of churn, so there's a ton of opportunity. I've increased my comp ~60% in the past two years, and now I'm on a property I love with tons of room for growth.

[@baore2422]

I spent a whole year as an intern starting last May, and I’m only just now starting a full time gig. My company was on a full-time hiring freeze for almost 2 years. It’s tough out there, but even a post-grad internship (if you can afford to live at home/with a lot of roommates) can help get your foot in the door.

[@scottlanigan]

Great as always!

[@BreakIntoCRE]

Thanks, Scott!

[@0380arod]

What about someone wanting to career change? I am a late bloomer - 45 y/o. I have almost completed my ASA (Actuarial Designation). Although a great career,, I want to eventually get into CRE investing. I was considering an analyst role to gain experience for a few years. Although never done CRE analysis, I have fairly strong analysis and modeling skills.

[@juelz713]

We need to hire people in affordable housing

[@keyvonk98]

@@juelz713 I’m in affordable housing still very difficult

[@LuisOrtiz-iz5hp]

Something that I am looking for, any suggestions?

[@nischalxp]

Hey Friend, Saw you couple of times on my KZbin recommendation page. I must say you make banger videos. Just wanted to ask any potential collab for video editing or thumbnails for your channel?

[@juanitobustamante94]

How much is break into CRE?

[@BreakIntoCRE]

All the details about a Break Into CRE Academy membership and current pricing are listed on this page: breakintocre.com/the-academy/

[@viveksharmaI]

Employers are not ready to hire immigrant talent (Students who came to the US to pursue their MSRE). What would be your advice on breaking into this industry and working around the sponsorship requirements? P.S- I interned with a big group last summer.

[@hoomanbeing4918]

I'm an international student as well. Going back to our home countries is always an option- saying this in the most light hearted way. Our visa is for studying and some practical training- sponsorship is a privilege. US citizens are struggling themselves to find a job, why would they look at the trouble of hiring us when they have a good pool of talent?

[@KehindeAkinnawo-tl8mf]

@BreakIntoCRE Are you available for a quick discussion concerning your Udemy course promotion Looking forward on working together Thanks