News You Can Use: Apartment Rentals on the Rise

chicago apartment rentals

Slow homes sales and ongoing economic uncertainty have contributed to a record-breaking surge in apartment rentals, which recently reached a five-year high. Apartment construction is also on the rise, and in cities like Chicago, investors are buying up condominium buildings and deconverting them into apartments to meet demand.

The recruitment specialists at 20/20 Foresight Executive Search are also industry experts. We stay on top of trends in the real estate realm to ensure we're helping to make the savviest hires for your company and your future goals. Contact us by filling out the form at right or calling 708.246.2100 to see how we can work together.

Demand for Apartments Reaches 5-Year High Across U.S. | The Real Deal

News You Can Use: Training Your Workforce in the Technological Age

Photo by  Carl Heyerdahl  on  Unsplash

Corporate management and leadership (along with just about everything else in the workplace) is evolving at a rapid rate in this age of constant technological advancement. As every industry finds its way in the changing marketplace, this Fortune article outlines how AT&T is helping its employees further their career goals by harnessing the power of online assessment tools and continuous training both on and off the job.

The recruitment specialists at 20/20 Foresight Executive Search stay ahead of trends in the workplace, helping companies navigate the complexities of finding, hiring and on-boarding professionals who will help them reach their goals. Find out how we can work with you by filling out the form at right or calling 708.246.2100.

'Upskilling' Your Workforce? Start by Measuring the Skills They Have Now | Fortune

20/20 Foresight’s Closed Search - June 2019

Photo by  Dylan Gillis  on  Unsplash

This month, we’re highlighting a completed 20/20 Foresight search for a distinguished Chief Operating Officer position with a real estate private equity firm that is one of the fastest growing owners of single residential rental property in the country. Thanks to the firm’s rapid growth, its founders had an immediate need to find and implement an executive board that would steer the management of the company and drive the business to new heights of success.

Based in Atlanta with regional offices in strategic locations throughout the US, this esteemed firm is considered one of the pioneers of the single-family asset class. The company, which operates under an innovative fund model, oversees the complete lifecycle of every asset it owns -- from acquisition through exit, inclusive of portfolio and asset oversight, construction supervision and property management. Since its inception, the firm has overseen the acquisition, renovation and management of more than 4,000 single-family assets.

This newly established COO role is responsible for the management of several integral company departments, including Administration & Human Resources, Brokerage, Property Management, Construction, Maintenance and Technology. Working across all levels within the organization, the COO ensures all of the firm’s goals and values are met, including driving value through effective leadership, P&L management and innovative business strategies. As the firm’s founders gradually step away from day-to-day operations, the COO is at the helm of leading transformational change for the company and re-engineering and optimizing its management practices, tools and technologies.

The firm’s management team was seeking an experienced, well-rounded professional with proven property management expertise as well as someone who takes pride in providing exceptional customer care. Utilizing our award-winning proprietary executive search process and deep real estate industry knowledge, our recruitment team tapped into our global database of more than 100,000+ professionals to find candidates with both a wealth of real estate experience as well as strong leadership capabilities.

In a brief period of time, we sourced a top candidate and facilitated the interview process, ultimately leading to this individual’s relocation to Atlanta from New York City. This real estate industry veteran will now be leading the firm’s newly installed executive board in addition to managing operations, maintaining industry leadership, fostering top talent and guiding all departments to achieve company goals.

If you’re leading your company’s executive hiring team or are a candidate searching for your next career opportunity, learn more about our nationally recognized executive search process by filling out the form to the right or contacting our Managing Director:

Reid Behrens

rbehrens@2020-4.com | 678.537.6928

News You Can Use: How to Tell if a Job Candidate Is Lying

job candidate

Call it innocent embellishment or flat-out fibbing, job candidates often inflate their resumes and interview answers to impress a potential employer. This insightful Fast Company article offers a few clues on how to suss out a job seeker who might be less than truthful on paper or in person.

Our recruitment experts and their industry-leading networks do the leg work of qualifying candidates for you, helping to ensure that only the top talent is reaching your Rolodex. Connect with the team at 20/20 Foresight Executive Search by filling out the form at right or calling 708.246.2100.

How to Tell If a Job Candidate Is Lying | Fast Company

News You Can Use: What the May Jobs Report Means for Your Business

economy jobs report

All eyes are on the U.S. economy as a weaker-than-expected May jobs report signaled a sharp slow down. As trade tensions swirl, worker shortages continue and wage increases stagnate, what does this current economic state mean for your company's hiring goals as we reach the mid-point of the year?

Turn to 20/20 Foresight Executive Search for not only a best-in-class recruitment experience, but also industry insights. Our consultants are experts in the fields we represent, offering a unique perspective and inherent understanding of your company's needs, objectives and challenges.  

Weak U.S. Employment Report Raises Red Flag on Economy | Reuters

20/20 Foresight’s Featured Search - June 2019

washington dc

A technology-driven commercial real estate company has retained 20/20 Foresight Executive Search to fill an exciting position of Managing Director based in Washington, D.C.

To support this progressive company’s rapid growth, it is looking for a dynamic Managing Director to sell its innovative SaaS and Marketplace solutions to commercial real estate investment firms within a designated territory. Insider knowledge of private real estate investment professionals -- how they think, act and invest -- is paramount to this relationship-focused role. This company’s technology solutions are complex, and the ability to compel clients to purchase based on the value proposition to meet your buyer’s needs is essential. This position reports directly to the Vice President of Sales.

This is a market-based position, capitalizing on a strong knowledge of the local commercial real estate landscape. You will be partnered with a Sales Development Rep and a Customer Success Manager who will qualify prospects, facilitate meetings and manage ongoing relationships to identify opportunities and build a strong client portfolio.

The ideal candidate for this position will have more than five years’ experience in commercial real estate, specifically the capital markets arena; more than three years’ experience selling technology solutions in the real estate and/or financial services industry; and a deep network of local real estate investment managers.   

With a team of more than 70 professionals based across the country, this five-year-old corporation is at the forefront of technology-based solutions disrupting the commercial real estate industry.

For more information about this position and other roles we are currently looking to connect with qualified candidates, complete the form to the right or contact our Senior Principal:

Adam Zechman

azechman@2020-4.com

202.810.0121

News You Can Use: Tech Tools Revolutionizing the Real Estate Industry

real estate technology

The approach that companies take to evaluate investments in commercial real estate is rapidly evolving thanks to innovations in new sources of data and predictive analytics that are continuously entering the market. This insightful Globe St. article outlines the ways that technology is disrupting the traditional lender-borrower relationship and forever changing the CRE industry.

The career consultants at 20/20 Foresight Executive Search are also real estate experts, having worked in the field. They bring that industry expertise to your recruitment needs, with an inherent understanding of helping you achieve your company's ongoing goals. Connect with us to learn more about our proven proprietary recruitment process by filling out the form at right or calling 708.246.2100.

The Finance Function Gets Smarter | Globe St.

20/20 Foresight’s Closed Search - May 2019

This month, we’re highlighting a successful 20/20 Foresight search for a prestigious Vice President of Asset Management position with a vertically integrated real estate investment management firm headquartered in Florida.

A real estate leader in the rental housing sector with more than $3 billion in investments, our client was searching for the ideal candidate to oversee its expanding Student Housing division, enacting strategic decisions to maximize cash flow and returns on the company’s collegiate real estate assets.

This integral role, which is responsible for a portfolio of 25,000 beds spanning from Florida to Texas, requires a strong financial background coupled with savvy lender/investor relations expertise. A multidisciplinary position, the VP of Asset Management also demands the interpersonal skills for cross-department collaboration needed to achieve the firm’s short- and long-term goals.

As part of our proven proprietary executive search process and deep real estate industry knowledge, our recruitment team tapped into our global database of more than 100,000+ professionals to cast a nationwide net for candidates with the right blend of real estate and financial experience. At our client’s directive, we narrowed our search to individuals with at least five years’ experience in dedicated student housing asset management.

In a short time, we were able to source a successful professional for this role, facilitating the connection between candidate and client. This individual will now be supporting the firm’s acquisitions team, identifying value creation opportunities, analyzing capital improvement project plans and assisting with property refinancing and recapitalization, along with other initiatives essential to the health and growth of the firm.

If you’re leading your company’s executive hiring team or are a candidate searching for your next career opportunity, learn more about our nationally recognized executive search process by filling out the form to the right or contacting our Dallas-based Managing Director:

Jim McGuffin
jmcguffin@2020-4.com | 214.414.2820

20/20 Foresight’s Featured Search - May 2019

A highly established integrated real estate firm has engaged 20/20 Foresight Executive Search to fill its esteemed position of Vice President / Corporate Controller based in the Los Angeles area.

This integral role is responsible for all aspects of external financial reporting for the firm, as well as consolidation accounting for a pre-IPO REIT that is expected to be registered with both the Securities Exchange Commission (SEC) and the Israeli Securities Authority. Additional duties include analysis of quarterly budgets and preparation of the annual corporate budget; development of regular business plans and reports for the company’s Board of Directors; and coordination of the firm’s annual audit. The VP / Corporate Controller will report to the firm’s Executive Vice President / Chief Financial Officer.

The ideal candidate for this position will hold a bachelor’s degree in accounting or finance, along with CPA, REIT and SEC accounting and disclosure experience. Additional desired skills include commercial real estate expertise, as well as a background in IFRS accounting and disclosure and MRI accounting software. Self-motivated, multitasking team players with extraordinary organizational, communication and leadership skills will also be favored.  

In business for more than 40 years, this well-respected privately held real estate firm acquires, markets and manages high-rise office properties across the country.   

For more information about this position and other roles we are currently looking to connect with qualified candidates, complete the form to the right or contact our Managing Director:

Rebecca Wilson

rwilson@2020-4.com

310.616.5020

How the U.S. Economy Impacts Executive Search

us-economy

The recent headlines are confusing: The U.S. economy has never been stronger; yet the stock market is at times volatile. How does this paradox affect a company’s 2019 HR goals such as hiring decisions and employee compensation? Here we’ll take a look at how your business might be influenced by the economy at this point in time and how you can navigate the sometimes tricky twists and turns to ensure you’re making the best choices for your company in the long term.

Historic Job Gains - And Some Losses

Job growth in America is on an unprecedented surge: April 2019 marked the 103rd straight month that the economy has added jobs, while the unemployment rate has remained under 5 percent for the past 31 months. In fact, the unemployment rate fell to 3.6 percent in April, marking the lowest level since December 1969.

This is all great news for the job market, right? Well, yes and no. As the world’s largest economy shows continued signs of flourishing, all eyes are on the Federal Reserve. This Crain’s Chicago article asks: Will the Fed ease policy and create rate cuts to avoid sparking inflation and what some are predicting as an impending recession?

It’s helpful to take a closer look at where the gains are happening, as well as the losses, to better understand the current state of the U.S. labor market. The sectors that are experiencing the biggest growth include construction, healthcare and hospitality, while retail and the automotive industry continue to struggle, battered by store closings and manufacturing plants shutting down. All of this information should be factored into the larger economic picture.

Are There Enough Workers?

One of the ongoing concerns of the current employment situation is the lack of workers to fill all of these newly created jobs. As this CNN Business report states: The unemployment rate fell in April partly due to the shrinking size of the labor market. Other indicators of a potential slow-down include a slight decline in the average work week and a lower percentage of people either currently working or looking for work.

What About Wages?

While all of this talk about extraordinary gains percolates, many economists point out that the average worker hasn’t felt the surge in their paychecks. It’s true: Wages have largely stayed stagnant even during this historic period of growth, only recently showing a slight growth (3.2 percent) in April. With this in mind, how do companies attract and retain top talent while keeping an eye on the bottom line?

What This All Means for Your 2019 Hiring Practices

Watching the economy closely is a necessary evil — the inherent ups and downs can be both exhilarating and exhausting, especially if you work in an industry that hasn’t had the benefit of these historic gains. Evaluating your company’s specific goals and vision despite what the stock market might be saying on any given day is key to riding this wave.

“The midpoint of the year is a perfect time to revisit the 2019 initiatives you established for your company,” said 20/20 Foresight Executive Search Managing Director Robert Peck. “Are you hitting your financial targets, which allows for greater growth? Are your overall objectives being met, creating more opportunities and additional job openings? These are the internal indicators to assess despite external factors when making smart hiring and compensation decisions for the rest of the year.”

The 20/20 Foresight Executive Search team is made up of industry experts with in-the-field experience. We inherently understand your business to help you navigate the current economic outlook while making savvy executive placements that advance your company’s mission.  Connect with us today by filling out the form at right or calling 708.246.2100.

News You Can Use: Harnessing the Power of Real Estate Tech Tools

real estate technology

Have you ever felt like technology that is designed to streamline our lives can actually make things more complicated? New tech innovations infiltrate every industry all the time, including real estate; here's how to harness their power to make you more efficient and effective, without feeling overwhelmed.

Selecting 20/20 Foresight Executive Search as your recruitment partner means you collaborate with experts in your field. All of our career consultants have also worked in the industries we represent, resulting in successful searches and long-lasting relationships. Find out more by filling out the form at right or calling 708.246.2100. 

Eight Ways to Stay On Top of Real Estate Technology Changes | Forbes

20/20 Foresight’s Closed Search - April 2019

This month, we’re highlighting a successful search for an esteemed Vice President of Finance position with a private real estate investment firm based in Los Angeles.

With a 20-year tradition of acquiring and operating conventional commercial properties, our client is currently experiencing unprecedented growth and required a executive-level professional to manage all aspects of financial reporting and analysis related to the management of portfolio properties while also fitting into the firm’s creative, collaborative and forward-thinking culture.

As part of our proven proprietary executive search process, our recruitment team tapped into its extensive real estate network as well as our global database of more than 100,000+ professionals to cast a wide, nationwide net for candidates with the right blend of real estate and financial experience. At our client’s directive, we focused on individuals with a CPA background and an understanding of financial reporting and operations, as well as the management of multi-family properties.

The individual who our team discovered and helped place in this coveted position comes to the role with more than a decade of experience in financial services, working for highly regarded companies in the US and Australia. In this exciting new position, our candidate is now responsible for all financial functions of the company, including leading all accounting duties, overseeing payroll and company benefits plans, conducting regular tax filings and budgeting analysis and forecasting. He reports directly to the President & CEO of the firm.

If you’re part of a company’s executive hiring team or a candidate looking for your next dream job, learn more about our nationally recognized executive search process by filling out the form to the right or contacting our West Coast leadership:

Laura Beckman, Senior Principal

lbeckman@2020-4.com | 310.616.5020

20/20 Foresight’s Featured Search - April 2019

A full-service real estate investment management firm based in South Florida has retained 20/20 Foresight Executive Search to fill its prestigious position of Vice President of Finance & Controller.

This senior role includes direct supervision of all accounting, tax and finance functions of the firm. Primary responsibilities include assisting the firm’s Chief Financial Officer in maintaining all accounting records for the company and its subsidiaries, as well as all billing, budgeting, investor reporting, treasury administration and tax preparation.  

The ideal candidate will possess a minimum of 5 years experience in public accounting and in the real estate industry, as well as a prior background in management. Federal and state tax knowledge and familiarity with US GAAP, internal controls and financial reporting are required. This essential position also calls for the ability to form, foster and lead high-performing teams while also collaborating across all departments to further the firm’s financial goals and overall mission.

Focusing on infrastructure, medical office buildings and other commercial property types, this well-regarded firm’s current portfolio spans more than 3,000,000 square feet and exceeds $600 million in assets under management.

For more information about this position and others we are currently looking to fill, complete the form to the right or contact our Managing Director:

David Ulrich, Managing Director

305.351.2402

dulrich@2020-4.com

20/20 Foresight Executive Search Ranked in the Top 20 on Forbes List of America’s Best Executive Recruiting Firms

20/20 Foresight Executive Search, a retained executive search firm specializing in the real estate, financial and manufacturing and service industries, was recently ranked #18 by Forbes on its prestigious list of “America's Best Executive Recruiting Firms 2019.”

Forbes partnered with market research company Statista to rank the top 200 executive search firms in the United States that specialize in filling positions with salaries of at least $100,000. The highly anticipated annual list comes at a favorable time as the U.S. economy has enjoyed more than 100 consecutive months of job gains. This unprecedented growth has contributed to an increased need for experienced recruitment professionals to guide successful hires across all industries.

Since its founding in 1994, 20/20 Foresight Executive Search has leveraged a proven proprietary recruitment process, the industry’s deepest databases and leading technological tools, and career consultants who are also experts in the fields in which they serve. Managing Principal and Founder Bob Cavoto feels this singular combination is the secret to his company’s ongoing success.

“We are honored to have been named as one of the nation’s top 20 executive recruiting firms during our 25th anniversary year,” said Cavoto.  “This distinction speaks to 20/20 Foresight’s vision of providing the best possible recruitment experience for our clients. Centered on the belief that a strong recruiter supported by a firm with the right systems, tools and expertise can have a powerful impact and build long-lasting client relationships, we have carefully and deliberately nurtured the people and the processes that have contributed to our success and this esteemed industry achievement.”

About the List

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

To determine the list, Statista surveyed 25,000 recruiters and 5,000 job candidates and human resources managers who had worked with recruitment agencies over the last three years. Respondents were asked to nominate up to 10 recruiting firms in both the executive and professional search categories. More than 17,000 nominations were collected, and firms with the most recommendations ranked highest.

To learn more about the Forbes Lists of America's Best Executive Recruiting Firms 2019, click here.

News You Can Use: March Jobs Report Restores Confidence

Photo by  Jonathan Francisca  on  Unsplash

After February's lackluster employment report, good news for the U.S. job market returned in the month of March. As CNBC reports, payrolls expanded by 196,000, and the national unemployment rate held at a record 3.8 percent, restoring confidence across a range of industries. 

How is your company faring in the face of this unprecedented time of growth? We can help you source the country's top talent to add to your executive team, ensuring your staff is positioned to grow and prosper in today's economy. To connect with our team of expert recruitment specialists, fill out the form at right or call 708.246.2100. 

Job market bounces back in March with 196,000 gain in payrolls | CNBC

20/20 Foresight Joins IRC Global Executive Search Partners

20/20 Foresight Managing Director Robert Peck recently attended the IRC Americas C-Suite Summit in San Francisco.

20/20 Foresight Managing Director Robert Peck recently attended the IRC Americas C-Suite Summit in San Francisco.

20/20 Foresight Executive Search has announced its affiliation with IRC Global Executive Search Partners, the world’s largest executive search alliance. The partnership cements the international scope of 20/20 Foresight Executive Search and its recruitment capabilities around the world. As the fifth US-based recruitment firm to join IRC Global Executive Search Partners, 20/20 Foresight is uniquely positioned to help the organization grow its American presence.

20/20 Foresight Executive Search Managing Director Robert Peck recently participated in the IRC Americas C-Suite Summit themed “Transforming the Leaders: To Be FutureReady” in San Francisco. “As we look to the future, partners are essential to 20/20’s growth and the quality of our clients’ experience,” Peck said. “Along with the complimentary talents of the IRC member base, we will have the scale to deliver the highest levels of service to our clients globally.”

“We are excited to welcome 20/20 Foresight Executive Search to the IRC,” said Tom Berray, IRC Americas Regional Leader. “We are confident the depth and breadth of their practice areas, strong client relationships, track record of high-quality work and great cultural fit with our existing IRC members will bring great value to our clients and alliance partners.”  

News You Can Use: The Real Estate Investing Trends You Need to Know Now

real-estate-investing-trends

Savvy real estate investors know that by staying ahead of the curve in today's ever-changing market, they are poised to make smart deals at the most advantageous time. What are the 2019 economic and demographic trends driving the real estate industry in this pivotal climate?

The 20/20 Foresight Executive Search team is comprised of career consultants who are experts in your field, including real estate. Find your next successful hire with our proven recruitment process by filling out the form at right or calling 708.246.2100 to connect with one of our career consultants today. 

Five Trends That Will Impact Real Estate Investing This Year | Forbes

News You Can Use: Real Estate Metrics That Matter

real-estate-investment

What metrics should every real estate investor consult to ensure a successful acquisition for their portfolio? By paying attention to these three essential data points, you can eliminate uncertainty and streamline the investment process.

The 20/20 Foresight Executive Search team are experts in the real estate field, as well as recruitment aces. Learn more about our proven recruitment process to find your top talent by filling out the form at right or calling 708.246.2100 to connect with one of our career consultants today. 

The Top Three Metrics Every Real Estate Investor Should Know | Forbes

To Get the Right Info from A Job Candidate, You Have to Ask the Right Questions

Bob CavotoCEO, 20/20 Foresight
Executive Search Blog – June 2017

It’s no secret that the only way to really get to know a candidate is to talk with them in person during an interview. That’s not news. But knowing what to ask during that conversation is a different story. There are a variety of interview techniques, each designed to get at a certain kind of information or gauge a candidate’s fit for the role. A corporate executive needs to stay fresh in their approach to interviewing candidates to lead conversations that are engaging and productive. After creating a detailed description of the role you’re looking to fill and getting to a short list of applicants, it’s time to talk. The following is a brief summary of interview techniques that an experienced search firm can help you learn and incorporate into your next candidate conversation/interview:

• The Gateway interview gets at why the applicant wants to transition into a new role, giving insight into priorities, motivators and expectations. Most importantly, this interview examines why the candidate left their jobs and/or why they want to leave their current job. The candidate’s answer should be reasonable and believable. It’s OK if the candidate mildly criticizes current or past employers, and if they do, a good interviewer should inquire further for details. A company representative should find out what makes that candidate tick and what their compensation target is.

• The goal of the Personality interview is to develop a profile of who this person is and how they relate to others. The candidate should be asked to describe what they find rewarding in their career, their management style, and how they make complex decisions or resolve conflicts. Other questions should include who they admire and a description of who they thought were their best bosses and why. Also included should be discussions of how much they work and how they are organized.

• While somewhat self-explanatory, the Resume interview aims to get beyond the bullet point basics and have the candidate explain their career progression by having them highlight jobs and accomplishments in greater detail. Simply take the candidate’s resume and ask specific questions about items listed on the resume. It’s important to note and separate what the candidate accomplished individually versus what their team achieved with each job.

• A Technical interview can be where the rubber meets the proverbial road. Sure, you may like the person, but can they do the job? Take a technical approach to the job whereby the candidate explains simple and sometimes complex issues, like discounted cash flow analysis, buy/sell/hold analysis, defines cap rates, tells what cap rates are in certain cities, and defines the various approaches to calculating IRR.

• The Topgrading interview or business situational interview requires the most endurance and is generally a one- or two-hour exercise. Usually not an initial interview, the goal of this approach is to find someone who can perform at the highest levels of your organization. In this setting, the company describes three or four real problems within the company and with this position, and then asks the candidate to suggest approaches and solutions. This technique is usually performed when the candidate pool is down to a short list of finalist candidates. This technique is very revealing as to who should be the final candidate.

Don’t forget that this isn’t the first rodeo for your job candidates. Mid-to senior-level job seekers have been through the interview process before and are likely to evaluate your company based on how you evaluate and interview them.

20/20 Foresight Executive Search is experienced in these techniques and can help your executives become more effective in interviews to find the best possible candidates. For more information on U.S. and international executive search services, contact 20/20 Foresight at www.2020-4.com or 708-246-2100.

Download a PDF of this blog.