Organisations are looking to diversify their assets and this is creating demand for property specialists or generalists. The level of demand for these professionals often depends on
the amount of funding being allocated to assets by companies.
Corporate real estate providers are engaging permanent staff as they are seeking to secure the best candidates. Candidates with soft skills as well as technical property expertise are well positioned for roles that involve diversification.
There are currently a high number of vacancies in commercial and retail property management. Permanent roles continue to be the preference of employers in both the private and public sectors.
Candidates with local experience are preferred due to the differences in legislation nationally, and those with good networks are at an advantage as it can help develop new business. There is currently a skill shortage in Property/Asset Management, Leasing and Built Form Development. In these areas consideration is given to candidates from other states.
Legislative knowledge, particularly around the Retail Tenancy Act, continues to be sought as employers want to reduce compliance risks when taking on inexperienced candidates
In terms of skills in demand for the April – June 2015 quarter, we’re seeing a high demand for
Commercial Property Managers who are needed to figure out how to maximise short and long-term cash flow in the coming quarter. They are sought due to a lack of mid-tier candidates moving roles as their companies have structured training and clear succession planning in place.
Leasing Managers are also sought after. Within commercial leasing, the key focus remains on securing candidates with local knowledge and networks, so while there may be a number of available candidates, not all have the required contacts.
Residential Property Managers are in demand as the housing sector picks up. However there is a large supply of these candidates. Those with experience in using Console software are at an advantage. Large portfolios, little support, long hours and low salaries are causing these managers to leave their roles. The strong demand for medium density inner city apartments is also creating a need for Development Managers.
Demand for Residential Sales Consultants is high due to the completion of many new developments. Experienced sales staff are working at capacity with solid pipelines of sales, which means there is no incentive to move companies and available candidates are thus in short supply.
Demand for Retail Leasing Executives is strong due high levels of redevelopment in major centres and very few experienced local candidates with the required experience and networks.
Employers are also seeking Commercial and Residential Valuers as there is a constant demand for valuations for the purposes of refinancing, investment and sales. There is a supply shortage as candidates are leaving the sector in response to low commissions and increasing liability. In addition, there is a high volume of work, but fewer graduates entering the market to replace departing staff.
In terms of candidate trends, we’re seeing people utilising their networks more efficiently and LinkedIn is providing avenues for them to continue to build their contacts. Candidates are seeking career pathways rather than financial reward.