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At Your ServiceLast week I reported that recruiting activity is on the rise, and I foresee that 2011 will be a year that finally produces a recovery on the hiring front. Reinforcing that view, over the past week I have had conversations with senior executives from a few of the major commercial service firms and I heard a common theme; transactional volume is up, beating most budgets for 2010. This activity is across the board. Leasing, investment sales, consulting, all are revving-up at a rate that portends that 2011 could turn out to be a “relatively” great year in comparison to the carnage of the past 30 months. Further reinforcing this view is the buoyant Wall Street, and the report yesterday that the White House and the Republican side of the aisle agreed on extending the Bush tax cut across the board. Thank goodness, the tentative recovery did not need an increase in taxes that could have dampened the turnaround.

Tony LoPinto is a senior client partner and head of Korn//Ferry International’s Real Estate Practice and founder of SelectLeaders. The views expressed in this article are the author’s own.

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