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Employment Rises in Real Estate Sector

NEW YORK CITY-Month after month, things are looking better on the national employment scene and jobs in the real estate sector are also becoming more plentiful. The local employment situation is lagging behind somewhat.

By Barbara Jarvie | Updated on July 18, 2004

NEW YORK CITY-With reports of more than 200,000 new employees being taken off the unemployment roster and added to payrolls, it shouldn’t come as any surprise that the real estate section is no exception to that position. And if the jobs are not forthcoming, interest in them certainly is on the upswing.

While traditionally, the real estate sector is a “lagging indicator,” Dale Anne Reiss, global and Americas director of real estate, hospitality and construction at Ernst & Young, points out, “hiring has picked up because activity has picked up. Buildings are being sold–there’s more transactional activity.” She says an increase in the number of jobs in the consulting services and the audit and tax field are signs of the resurgence in the economy.

Ed Friedman, executive vice president for Newmark Co.’s broker advisory services group, tells GlobeSt.com that the firm has experienced a “flood” of job applicants in recent history. “Real estate has always been seen as a steady employer. They see it as a career that makes a lot of sense.” Those applicants are not just coming from the traditional real estate programs and he believes they want to be integrated into the community they live in. “We don’t have to tell them to get involved. They’ve been active in fraternities, college sports or fundraising.” Friedman says the industry will “always have an appetite for bright, aggressive people who speak well and present well.”

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