NEW YORK CITY—As is often the case, the comments in the latest SelectLeaders Hiring Trends survey tell the story of the cross-currents in the real estate industry. A few examples here help to illustrate the breadth of those comments. With regard to the industry outlook overall and the skill sets that the present environment calls upon, one survey respondent sees “positive trends overall but finding opportunities and creating value takes more work. We'll need a different set of resources (strong asset manager, deal leaders) to unlock asset potential.”

Looking at the hiring picture, one respondent says, “For employers, 2018 is going to be very tough to fill positions.” Conversely, another says that “It's sad that you cannot secure a position based on credentials in this industry. It's only about who you know.”

The year ahead brought a mix of predictions about the macroeconomic picture. “I think it will be a very good year for businesses. The cut to corporate taxes is going to help the economy tremendously,” says one industry member. Another calls tax reform “a big, big question mark. Nonetheless, '18 should be another great year as long as everyone stays focused/undistracted and does not get sloppy with internal controls.” A third forecasts that '18 “should be an interesting year…accelerating economic growth against a background of everyone thinking the next recession is around the corner, which it may well be.”