Experts in Leasing in Overbuilt Markets Are Much in Demand

Real estate executives capable of marketing and leasing commercial property in tough, overbuilt markets were among the industry’s most heavily recruited managers during 1985, according to Korn/Ferry International’s Los Angeles-based Real Estate Division, a leading real estate recruiter.

“Many companies added in-house marketing capabilities in the past year, in part reflecting growing frustration with brokerage leasing results in tenant-driven commercial markets,” Lee Van Leeuwen, division managing partner, said.

Continued strong commercial building, propelled by financing availability in the past year, kept demand for real estate managers at a high level, he added, but the demand has strained the limited talent pool of managers with leasing and marketing skills. Consequently, he predicts that it may be necessary to bring in marketing experts from other industries.