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CoStar Group is out with the news that more than 90 million square feet of retail space scheduled to hit the market in this year.  As first quarter results are released by REITs we have a window into whether or not progress is being made in the industry.  For more information on our executive search services in real estate and financial services, contact 20/20 Foresight at www.2020-4.com or 708-246-2100.

Mall owners fight back against 'scythe-wielding grim reaper of bankruptcy'

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Should REITs use the new U.S. tax law as an incentive to abandon their tax-free structure to satisfy capital needs, or is it best to stick with a status that provides entry to a special set of investors?  According to this article, Third Avenue Real Estate Value Fund portfolio managers Jason Wolf and Ryan Dobratz argue in a letter that “some U.S. REITs should consider converting to a regular corporation, known as a C corp, to ‘maximize the value for shareholders over the long term.’”  Leadership of REITs often turn to us when looking for executives to their teams.  For more information on our executive search services in real estate and financial services, contact 20/20 Foresight at www.2020-4.com or 646-873-6890.

Under New Tax Law the Question Is, To Be or Not to Be a REIT?

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According to two firms, real estate investment sales volume came in at approximately $115 billion in the first quarter.  This adds up to a 10 percent year-over-year decline, according to CoStar.  However, Real Capital Analytics maintains the data show a five percent year-over-year increase.  See who is right – or if they both are -- in the following article.  Will either scenario impact staffing plans at your firm?  Talk it over with us and get more information on our executive search services in real estate and financial services at www.2020-4.com or 708-246-2100.

Investment Sales Volume Totaled Nearly $115 Billion in First Quarter

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In this article that covers core commercial real estate sectors, a private equity fund manager "divides them into the 'basic food groups' — office, retail, industrial and hospitality."  What investors are hungry for and what they are nibbling at is covered.  For more information on our executive search services in real estate and financial services, contact 20/20 Foresight at www.2020-4.com or 708-246-2100.

A Private Equity Investor Discusses Where to Put Money at the End of the Cycle

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JLL Economist Walter Kemmsies opines in this article on how new tariffs on raw steel and aluminum could impact the U.S. economy and commercial real estate. Keeping up-to-date on current events and trends affect our clients is just one hallmark of 20/20 Foresight. For more information on our executive search services in real estate and financial services, contact 20/20 Foresight at www.2020-4.com or 708-246-2100.

How Trump’s Trade Balancing Act Could Impact Commercial Real Estate

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Many panelists at the 23rd Annual REIT Symposium, hosted by New York University’s Schack Institute of Real Estate, shared their thoughts on the reasons behind the NAV gap trends.  See some key takeaways from the event in this article. For more information on our executive search services in real estate and financial services, contact 20/20 Foresight at www.2020-4.com or 646-873-6890.

Six Takeaways from NYU Schack Institute’s 23rd Annual REIT Symposium

20/20 FORESIGHT EXECUTIVE SEARCH RANKED #15 ON FORBES LIST OF AMERICA’S BEST EXECUTIVE RECRUITMENT FIRMS

Named as one of America's Best Executive Recruitment Firms for Second Year

CHICAGO, April, 2018 – 20/20 Foresight Executive Search, a retained executive search firm specializing in the real estate, financial and service industries, on April 9 was ranked #15 by Forbes on its list of “America's Best Executive Recruitment Firms 2018.”

“We are honored to have been named as one of the nation’s top 15 executive recruiting firms,” stated Bob Cavoto, managing principal and founder, 20/20 Foresight Executive Search.  “During our 20-year history we have continually striven to ensure we exceed our client’s expectations.  Based on the belief that a strong recruiter supported by a firm with the right systems, processes, expertise and fee structures can have a powerful impact for clients, we have carefully and deliberately built and nurtured the teams and resources needed to deliver for our clients.”

According to Cavoto, among the attributes and differentiating factors that set 20/20 Foresight apart are:

·       Each 20/20 Foresight consultant not only has working experience in the industries it serves, but also has extensive experience in recruiting.

·       Consultants follow a proven executive search and candidate evaluation process designed to source several qualified candidates. Additionally, its consultants document the entire search process and share it with clients.

·       An online database that is among the best in the industry with more than 50,000 companies and 200,000 candidates.

·       20/20 Foresight is a “hybrid retainer” search firm which requires a small retainer upfront with the remainder of the fee due only when a candidate is hired by the client.

·       It stands behind its work by providing a one-year guarantee for all candidates. For “C” level searches, the guarantee period is two years.

About the List

In developing the ranking of "America’s Best Recruiting Firms," Forbes writes that it partnered with Statista.  The broad field of recruitment firms was divided into two main categories, Executive Search, which includes firms that place executives in positions with more than $100,000 per year in income, and Professional Search, representing firms who work filling professional and specialist positions that pay up to $100,000 income per year.

According to Statista, the ranking in these categories were based on two surveys:

·       A client survey including 4,500 candidates and HR-managers who were clients of recruitment firms within the last three years; and

·       A survey of 30,000 external recruiters from recruiting firms who were invited, as experts, to share their market insights.

The surveys took place between mid-December 2017 and mid-February 2018.   Each respondent could name up to ten recruiting firms per category.  Providing a recommendation was not mandatory and an auto-complete function helped the respondent to select a recruiting firm. Respondents also were able to recommend any recruiting firm which did not appear in the auto-complete list.  In total, 6,500 respondents took this year’s surveys with more than 14,500 nominations of recruiting firms.

To learn more about the Forbes Lists of America's Best Recruiting Firms 2017, click here.

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A study of 77 metropolitan areas by real-estate data firm Reis Inc., discovered that "empty space in regional shopping malls reached a six-year high in the first quarter, adding further stress to regions being hit by a retail earthquake that is shaking up the job market across the U.S."  Are you making adjustments to your team to address this? If so, contact us for more information on our executive search services in real estate and financial services at www.2020-4.com or 708-246-2100.

Mall Vacancies Reach Six-Year High as Retail Slump Batters Local Economies

20/20 Foresight Executive Search Ranked #15 on Forbes List of America's Best Recruiting Firms

We are honored to have been named by Forbes as one of the nation’s top 15 executive recruiting firms in a list published today. During our 20-year history we have continually striven to ensure we exceed our client’s expectations.  This honor demonstrates that we have met that goal and inspires us to work even harder to ensure client satisfaction.

For more information on our executive search services in real estate and financial services, contact 20/20 Foresight at www.2020-4.com or 708-246-2100.

Best Executive Recruiting Firms

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CBRE's newly released Global Investor Intentions Survey 2018 shows that, "Investors are taking advantage of the current strength of the market to diversify and make necessary changes to their portfolios" with industrial and logistics the asset class generating the most interest.  If you are making changes and need the right executives to achieve your goals, consider our our executive search services in real estate and financial services.  You may contact us at www.2020-4.com or 708-246-2100.

Global Property Investors to Increase Commercial Purchase Activities in 2018

Critical Criteria for Choosing an Executive Search Firm

By Glen Esnard, Senior Principal, 20/20 Foresight

If talent is your most critical asset, how do you choose your executive search firm?

We win a lot of executive search assignments based on relationships. We also loose now and then based on relationships.

We seldom see decisions to hire a search firm based on a thorough review of capabilities in a competitive “bake off.”

We find this surprising given most C-Suite executives would place “recruitment, retention and development of key talent” in their top three responsibilities. We also find it surprising given that all recruiting firms are definitely not created equal.

Now, while we can’t alter an executive’s selection style, we do annually assess our industry and the competitive differentiators, other than relationships, that clients find most critical delivering the desired result -- more qualified candidates who remain with the company once hired.

In our assessment we focus on operational capabilities or qualities. We exclude what we call “proof statements” such as references, client testimonials and peer review. Their intent is to validate, important, but they are not hard performance criteria.

Year in, year out, we find the same criteria. While the order may fluctuate bit the factors remain. The top five criteria are:

  • Sourcing process

  • Industry expertise

  • Personalized service

  • Fee structure

  • Performance guarantees

There are, as you might expect, many nuances to those criteria.

Sourcing process: Would it be surprising to learn many recruiting firms with very disciplined, rigorous processes haven’t changed them substantially with the advent of technology? Many use technology simply to drive their old practice, to narrow, from tens of thousands to a large handful, potential candidates based on “tags” associated with candidates. Then they call, or an assistant calls, the filtered group.

This can work only so long as A) the tags on each candidate are accurately spelled out by the intern responsible and B) their database includes all possible candidates. There are very real stories of a “top three” candidate for a position not even contacted for an identical position by the same recruiter weeks later because the sort was ineffective. Technology should drive a broader reach, not simply a faster winnowing.

Our online database is the best in the industry. The 20/20 Foresight team has access to more than 50,000 companies and 200,000 candidates and inspects the lists generated for each search carefully before placing any calls.

Industry Expertise: I am reminded of the family estate attorney who, when asked for a real estate attorney reference responded, “Oh, no problem. I can do that.” Recruiters can be very similar. Specialization is important. Ask yourself one pointed question. Is your recruiter’s expertise based on tenure as a recruiter or a blend of “been there done that” industry expertise combined with recruitment experience? Has he or she walked in your shoes?

Each 20/20 Foresight consultant not only has working experience in the industries we serve, but also has extensive experience in recruiting.

Personalized Service: Simply, who is really doing the work? Your recruiter is an extension of your firm, a representative who directly reflects on the quality, brand and reputation of your firm. Who’s really talking to the candidates? What does that mean for your firm’s brand and ability to attract talent?

We follow a proven executive search and candidate evaluation process designed to source several qualified candidates. Additionally, our consultants document the entire search process and share it with our clients.

Fee Structure: Most frequently fees are viewed as the amount paid. We see fees paid as less significant than setting a fee structure that demands performance. We grew up in the real estate business. We understand “broker risk” in transaction compensation. There is no reason recruiters shouldn’t take transaction or closing risk.

20/20 Foresight is a “hybrid retainer” search firm. We require a small retainer upfront. The remainder of the fee is due only when we find a candidate that is hired by the client.

Guarantees: This may be the most underappreciated factor in the survey. Everyone gives guarantees, essentially refiling the position for free if the employee leaves or is terminated within a certain time frame. The term of guarantee is the best measure of confidence a firm has in its own performance.

At 20/20 Foresight, we stand behind our work by providing a one-year guarantee for all candidates. For “C” level searches, the guarantee period is two years.

Durable success in your firm is driven by the quality, commitment and fit of talent in the organization. A strong recruiter supported by a firm with the right systems, processes, expertise and fee structures can have a powerful impact.

Choose wisely!

For more information on U.S. and international executive search services, contact 20/20 Foresight at www.2020-4.com or 708-246-2100.

 

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According to one industry pundit, recently enacted tax reform may provide "particularly strong tailwinds for small banks" with direct benefits going "right to their bottom line."  If you're a banker looking to supplement your executive team, we stand ready to assist you. For more information on our executive search services in real estate and financial services, contact 20/20 Foresight at www.2020-4.com or 708-246-2100.

Don’t be scared of the swings – there’s a big boon for small banks ahead

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While sales of Manhattan office buildings in the billion dollar range are rare, recently sellers have shown a willingness to "have their cake and eat it too" by selling sizable portions.  In fact, according to this article, in 2017 “partial-interest sales made up 83% of all deals for Manhattan office buildings valued at more than $1 billion" compared to 2015 when "minority-interest sales made up 42% of such transactions."  If you are thinking of building or adding to your team, contact us for more information on our executive search services in real estate and financial services.  Visit 20/20 Foresight at www.2020-4.com or 646-873-6890.

Why Sell a Billion-Dollar Building When You Can Unload a Piece of It Instead?

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Another consequence of online shopping's effect on retailing is popping up in New York and elsewhere as retailers sell floors of their buildings previously used for merchandise sales to developers for office use. Let us assist you in building or adding to your team. For more information on our executive search services in real estate and financial services, contact 20/20 Foresight at www.2020-4.com or 646-873-6890.

New Office Space Created in Retail’s Tumult

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Schuylkill Yards, a new development in Philadelphia within walking distance of downtown is set to include seven million square feet of office, laboratory, retail and residential space.  While it's moving along, developers are still looking for an additional $4.5 billion in private investment.  Further demonstrating the vibrancy of the Philadelphia market, we have been retained by a privately held real estate development firm there to recruit a Vice President of Development.  This executive will lead the strategic vision and tactical execution of a nationwide development platform focused on multiple asset classes of real estate.   For more information on our executive search services in real estate and financial services, contact 20/20 Foresight at www.2020-4.com or 708-246-2100.

Philadelphia’s First Step to a Platform of Innovation

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While some argue that health clubs are helping save retail malls, an industry expert opined on CNBC that mall operators who are "hoping gyms will not only bring people in to work out, but that they'll stick around and shop" are setting expectations too high for cross shopping.  She asserts that "people may go to a juice bar, or something that's related to their work out —but that's about it."  If your firm is in the commercial real estate or financial services marketplace, we can assist you in building or adding to your team. For more information on our executive search services in real estate and financial services, contact 20/20 Foresight at www.2020-4.com or 646-873-6890. 

A retail expert explains why giving ailing malls a workout just won't work

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While the overall CMBS delinquency rate has steadily declined in recent months and is expected to continue to do so, the news in individual asset classes varies. As this article notes, "The hotel sector, for example, has been dealing with both a rapid growth in rooms in recent years and the disrupting effect Airbnb has had on the industry. Neither has had an effect on loan performance to date." No matter your firm's role in commercial real estate or financial services, we can assist you in building or adding to your team.  For more information on our executive search services in real estate and financial services, contact 20/20 Foresight at www.2020-4.com or 708-246-2100.

New Supply, Airbnb Could Finally Hurt Hotel Loan Performance

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It appears that New York City's commercial real estate is recovering from its two-year sales plunge. As a result of cuts in the corporate tax rate, optimism is on the rise and signed deals are expected to increase this year.  As this article notes, additionally, "property values, a lagging indicator that usually falls after sales and the number of transactions drop, appear poised for a decline."  No matter your firm's role in commercial real estate or financial services, we can assist you in building or adding to your team. For more information on our executive search services in real estate and financial services, contact 20/20 Foresight at www.2020-4.com or 646-873-6890.

New York’s Commercial Property Slump Shows Signs of Slowing

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Our last blog discussed "elite performers" and what sets them apart from their peers.  To continue the discussion, we are sharing this column and agree with its author that, "To be successful is to maintain ethics, principles and self-awareness regardless of how your professional pursuits are going."  Let us help you find successful professionals for your team.  For more information on our executive search services in real estate and financial services, contact 20/20 Foresight at www.2020-4.com or 708-246- 2100.

13 Difficult Things Highly Successful People Learn To Do Young

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One of the most successful businessmen in the world, Jack Ma, admits he didn't know much about the industry in which he has excelled.  So, how'd he build Alibaba into global powerhouse?  According to an interview at the World Economic Forum in Davos, by hiring people smarter than him and getting them to work together.  Let us help you find smart, good managers for your team.  For more information on our executive search services in real estate and financial services, contact 20/20 Foresight at www.2020-4.com or 708-246- 2100.

https://www.inc.com/justin-bariso/alibaba-founder-jack-ma-just-shared-his-2-step-formula-for-success-and-its-absolutely-brilliant.html