As the real estate recovery begins to gather steam, the process of hiring top professionals, always a difficult proposition, becomes even more challenging since there are more jobs available than there are quality professionals. Regrettably, the real estate industry is challenged by a shortage of talent, so it is often necessary to seek the help of a recruiter to get the job done with the best results. However, it is important to recognize that there are two different types of recruiters from which to choose. One is a retained firm and the other is contingent. Let's explore the differences.

Retained firms are the clients' exclusive representatives in the market concerning a particular assignment; they do not compete against other search firms to present candidates for the position. Retained firms do a thorough analysis of the market and contact a wide range of candidates and sources. Target candidates tend to be individuals who are currently employed, doing well in their positions and have no intentions of leaving their current employers. Although retained firms may present qualified individuals who happen to be actively seeking employment, such candidates are typically incidental to the search strategy and not the primary focus.

Retained search professionals are consultants who work with the client to identify organizational solutions. If a search strategy is not yielding the appropriate caliber of candidate, these consultants work with the client to revise the strategy. They outline alternative approaches or compromises and clearly articulate the advantages and potential liabilities of each. Since they are working on a contractual basis, they are committed to completing the assignment and attaining an optimal result, regardless of the difficulty of the search.