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Real Estate Market and Job Market: Currently One and The Same in South Florida
Everyone has been hearing about the hot real estate market. Huge demand, low supply and thus soaring prices, houses going under contract the day they hit the market, and being sold at or above asking. The job market is not so different.
Demand for talent is at an all time high and supply low. The truth is the real estate market can show employers (home buyers) some tips on how to land their candidate (home).
- Move fast!! In this market houses are flying off the MLS faster then going on, so as an employer if you get a strong resume- interview ASAP. If you like them, make an offer ASAP. If you wait to see “one more house” you may very well loose the one in front of you. Time is of the essence.
- Price/Salary- whether we think a house is worth the asking price doesn’t matter if there’s someone willing to pay it. Same with candidates. The market is dictating high compensations causing companies to re-evaluate comp structure and salary. If you want to land the candidate, you have to pay “asking”
- No contingencies/flexibility: In today’s market home sellers are requesting no contingencies and various other stipulations. They are getting it. Candidates are requesting hybrid/remote work and are also getting it. To be a competitive “buyer” you have to adjust to this new way of the working world.
We are definitely in a sellers and candidate market and we can either learn to adjust or struggle to find that next candidate or home… things will eventually even out, but there’s no end in sight to this huge upswing of the need for homes and talent.
If you are a company looking to hire or a candidate looking for your next role, feel free to reach out: [email protected]
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Written and published by Director of Finance & Accounting Search, Leigh Flanders-Cassett
