WASHINGTON, DC—“New opportunities are plentiful for those looking in the right places and possessing a solid strategy.” That is according to Alan Greenwald, a partner with executive search firm Terra Search Partners. We recently chatted with Greenwald about advice on career planning in affordable housing, and how to balance the overall mission while still focusing on career advancement.

GlobeSt.com: What would you say is the biggest challenge affordable housing developers face in today's market?

Alan Greenwald: Both non-profit and for-profit affordable housing developers, investors, managers, and lenders are faced with shrinking capital resources, fewer public subsidies, and smaller affordable housing companies dissolving or absorbing into larger ones, which are looming in the wake of the Great Recession. This changing landscape has made a career in affordable housing more challenging for current practitioners as well as those looking to start out or segue into an affordable housing career.

GlobeSt.com: How can developers overcome these challenges?

Greenwald: New opportunities are plentiful for those looking in the right places and possessing a solid strategy. As a recruiter, I have placed many candidates in a variety of post-recession roles, from those starting their careers through C-level executives. There are several trends affecting the affordable housing job market and different strategies on how to successfully navigate them.

GlobeSt.com: What do you consider the most valuable tool in career advancement for this industry?

Greenwald: Networking. Some may associate the word "networking" with shallowness, but it is actually a positive practice that is essential to any professional in business, especially in the real estate industry.

GlobeSt.com: Do you have any specific tips for those looking to expand their network?

Greenwald: If you work in a function where networking is a normal part of your job, make sure some percentage of it is devoted to your long-term personal agenda and not just your company's goals. Many people think of networking and career planning as an external affair, but it absolutely is not. Definitely seek opportunities and build bridges externally, but also build your network and experience (indeed, this is what building your resume is all about) internally. Remember, networking is a two-way street and real relationships are forged when you show genuine interest. As such, avoid lecturing potential contacts, telling them you are the “best candidate for x” or forgetting to look up when you are speaking. Listen and look, don't just talk. Respond to those reaching out to you as part of their networking. This is a way of “paying forward,” and you never know where such a relationship may serve you in your own career.

Check back in the next few days for more of this Q&A, where Greenwald touches on how to find a balance between managing your current position while trying to focus on career advancement, areas with the most room for improvement and more.

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Natalie Dolce

Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.