Recent events have reshaped this sector, including the impact of COVID-19, the surge in e-commerce, growing awareness of sustainability, and advancements in technology over the past few years making this market a very competitive as well as the need to find exceptional talent.
Executive search is a reliable, data based approach when looking for the right talent. Executive search focuses on matching not only technical and soft skills of a candidate but also personality with the culture and goals of the company. Leaders in commercial real estate need to have a variety of skills to be successful in this competitive market.
As an executive search firm, we know that leaders in the CRE must have good knowledge of local and national real estate markets, as well as strong financial skills to secure favorable deals and manage budgets effectively. Negotiation abilities are crucial to close deals, and networking within the industry is a must. On the other hand, having expertise in legal regulations is essential to avoid potential pitfalls. Analytical competencies to assess market data and make informed decisions, besides having effective and assertive communication expertise, are key. Ethical conduct and professionalism are foundational, and finally, technology savviness has become increasingly important.
At Zavala Civitas Executive Search, we are aware of all the needs for a successful CRE leader, and we understand what proficiencies are required to thrive in this market with top executive talent.
Problem: A Commercial Real Estate (CRE) development company faced a critical challenge when they acquired a prime, yet underutilized, downtown commercial property. The property had potential for redevelopment, but the company did not have a professional with the necessary skills to lead a project like this successfully. They needed a seasoned executive with a track record in CRE to oversee the entire project, from due diligence and design to financing and construction.
Solution: To address this challenge, they decided to engage with our headhunting services with a partner that specializes in the real estate industry. Zavala Civitas conducted an in-depth analysis of their needs, the project’s scope, and the specific skills required for success. They crafted a detailed job profile outlining the responsibilities and qualifications necessary for the role. The search focused on candidates with a proven track record in urban redevelopment, experience with similar-sized projects, strong financial abilities, and exceptional leadership skills.
Conclusion: After an extensive search and evaluation process, Zavala Civitas presented a shortlist of highly qualified candidates. An accomplished CRE executive with a history of successfully revitalizing urban properties similar to their downtown project was selected. The client not only overcame a significant challenge but also turned an underutilized property into a thriving downtown asset. The leadership and industry expertise were instrumental in ensuring the project’s success, from start to completion.
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