Young Commercial Real Estate Brokers Feel the Burn of Layoffs, Pandemic


Young Commercial Real Estate Brokers Feel the Burn of Layoffs, Pandemic


When the coronavirus pandemic swept through the world in March 2020, layoffs cut through commercial real estate. But while COVID-19 restrictions have largely been lifted in the U.S., brokerage firms are again tightening their belts amid an uncertain economic climate, putting pressure on young professionals to abandon an increasingly volatile, and less profitable, industry.

For brokers who remember the office market of 2019, those relatively high occupancy rates and asking rents might seem like a far-off dream compared to now. Today’s concrete jungle remains marred by high availability rates and remote work, which threatens office property values nationally. Plus....
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RSK: I can see where this is a problem...especially in the office sector and in larger metro areas. Here in Madison, young broker agents are more diverse in their leasing and sales areas. Correct me if I am wrong. Drop me an email with your experience. Your name will not be shown.

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- - Volume: 10 - WEEK: 50 Date: 12/5/2022 11:49:29 AM -