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Commercial real estate has always been a boots-on-the-ground type of job. Expertise requires a deep knowledge of local markets. Deals are made in person and closed with a handshake.
Now, due to the coronavirus pandemic, CRE firms are questioning whether their employees actually need to be together in a workplace and whether everyone even needs to work in the same city. The question of whether remote work can survive long-term is going to be more fraught for real estate than for many other industries.
Some employers are still aiming to find new hires locally, capitalizing on a buyer’s market for talent in the markets where they already work. But others are finding that a portion of their new hires can be flexibly or even permanently remote. So how can employers make the most of the socially distanced state of hiring?