In context, the real estate company will be involved in making acquisitions of real estate properties to either lease or resell. Therefore, the professionals required to acquire properties at optimal prices will generate a consistent profit. The necessary positions that the current recruitment plan will focus on should cover the fundamental operations that the real estate company seeks to achieve. The necessary recruitment positions include; real estate agents, real estate appraisers, commercial property managers, lease administrators, property managers, leasing agents, and leasing managers.
Real estate agents help clients with the sale or purchase of real estate property. In context, the real estate company requires an aggregate of five real estate agents. Each of the individuals who will occupy the positions of real estate agents is required to be professional but charismatic and convincing to help persuade potential buyers to meet their real estate needs. Our real estate agents will handle the task of assessing the market and reaching out to people that want to either purchase, sell or lease real estate properties and facilitate the process.
Real estate appraisers need to be people with years of experience in property valuation and keen on small details. The real estate company under discussion will require two appraisers to deal with the residential property while the other will handle commercial properties. The commercial property manager will handle the commercial properties under the company’s management. The professional deemed fit for this role needs adequate experience in dealing with processes associated with commercial properties, such as executive leases, rent collection, maintenance, and repairs, among others.
The lease administrator will have jurisdiction over the rental properties that our real estate offers to clients. The individual set to occupy this position will be dealing with people daily. Therefore, one must have people skills as sometimes the collection of rents and other leasing payments can be difficult to facilitate amicably. The leasing agent is necessary for the organization to maintain a friendly relationship with clients.
The lease administrator represents the company by meeting with prospective tenants and exhibiting features of the property. Only two leasing agents will be required, and they should display a firm grasp of people skills. Leasing agents will report to the leasing manager. The leasing manager will ensure that all leased properties are properly maintained in their best state. They should have sufficient professional experience in the management of the leased property.
All professionals enumerated above will be reporting to the property manager. The property manager position will be one of the highest-ranked officials in the company. Hence, the qualifications of recruitment for this position will require utmost scrutiny. The property manager will oversee all the business operations associated with all rental properties owned by the company (both residential and commercial properties) (Agents & Hernandez, 2022). The individual that the company will recruit should have a reputation of stellar performance in real estate management.
Top Target Markets
The company will use numerous techniques to find the best-suited professionals to fill the aforementioned official positions. The LinkedIn professional tool is the top target market to seek for such professionals. The company will also utilize social media to create awareness that there are job vacancies for people with the necessary qualifications to send applications (Agents & Hernandez, 2022). The recruitment plan will also involve manual searches for qualified personnel in workshops and sponsorship programs.
Measures of the Plan’s Success
The recruitment plan will be measured using three key performance indicators. The first performance indicator is the quality of hire. It will be determined by the number of employees in the company within the first year of hire (Moudry, 2020). The quality of hire shows the plan’s ability to recruit loyal and qualified professionals. The second performance indicator is the time it takes to lure prospective employees and select the best one. The third performance indicator is the expense incurred to make every hire.
Risk Assessment of Technological Changes and Its Impact on Real Estate
The use of big data technology has enabled real estate companies to track the consumer behavior of consumers. Thus, real estate companies get a good idea of the best people to market products to and get favorable returns. Moreover, big data also helps find the most optimal real estate deals for clients. Similarly, real estate companies currently use artificial intelligence and machine learning systems for expense and risk management.
Changes in recruitment and retention of the top talent in the industry
The real estate industry is full of competition, which applies to qualified real estate officials. As a result, the turnover rate of talented real estate professionals is relatively high, meaning that it is difficult to retain talented real estate professionals. Real estate organizations are keen to implement a positive employee experience to increase employee retention The company culture of real estate companies has been altered to increase organizational citizenship behavior. For instance, employees are now given the chance to take part in decision-making so they feel as part and parcel of the organization.
Agents, A., & Hernandez, N. (2021). A complete guide to recruiting real estate agents – Go2 Blog. Web.
Moudry, S. (2020). The ultimate guide to recruiting real estate agents. The Close. Web.