NEW YORK CITY—Commercial real estate could see a bidding war for talent this year if the economy goes into overdrive under the new administration in Washington. That's the top-line conclusion from SelectLeaders on the results of the recruitment firm's 2017 Real Estate Hiring Trends Survey.

Among other findings, the survey found that 14% of respondents reported a 20% increase in compensation, while another 15% received an increase of greater than 10%. “The price for top talent in 2017 could push the needle even higher,” according to SelectLeaders, which powers the GlobeSt.com Career Center.

The likelihood of that scenario will increase if, as 53% of survey respondents believe, the Trump administration will exert a positive effect on the US economy. “It is going to be an exciting year if people begin to keep more of their own money and can gain confidence to spend some of it,” said one survey respondent. “This could be a major economic expansion if taxes decrease and other programs are implemented per the new administration.”

Offered another respondent, “I am very optimistic for President-elect Trump to take office and start to repair the damage done by the last eight years of the Obama regime.” (The new president's inauguration this past Friday was still a few weeks in the future when the survey was conducted in late December 2016.)

Even among the majority of respondents seeing a positive outcome from Trump's presidency, though, there were a few qualms expressed along with the optimism. “I am not sure,” said a survey respondent. “Trump talks a lot and he doesn't always mean what he says. This will have to be good timing on his part and if manufacturing grows because of sales. We have yet to see.”

Throughout the recovery, another respondent pointed out, “firms have been slow to hire, squeezing more efficiency out of existing staff in most cases. The dramatic happenings in DC will likely extend the recovery, if not improve it as well. But Trump has got to get off that Twitter. He looks like a joke on there.”

Unpredictability and volatility, along with a sense that the improvements will be temporary, were on the minds of the 18% of survey respondents who think the new administration will have a negative effect on the domestic economy. “The new president is obviously the biggest game changer in all aspects of business and our lives,” one respondent said. “I strongly believe that the next few years will be some very strong, high-growth years. However, just like with Reagan (S&L crisis) and George W. Bush (financial crisis), it will all end very badly. Just how badly remains to be seen.” To another respondent, “a quantum leap backwards” will be the outcome of Trump's policies.

The remaining 29% of respondents think the economy will remain the same. “Hoping for the best, but preparing for a year that could be filled with unknowns” is how one respondent put it.

The survey also covered topics ranging from concerns for this year to revenue and hiring results for the year just past. GlobeSt.com will cover these results, and the comments that resulted, in the next few days. Click here for the complete survey results.

The remaining 29% of respondents think the economy will remain the same. “Hoping for the best, but preparing for a year that could be filled with unknowns” is how one respondent put it.

Instant Insights /

Price for CRE Talent Could Rise with '17 Economy

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