In today’s market, the demand for skilled professionals is at an all time high, as economic pressures force many to move for better living conditions and job opportunities in more affordable cities. This is especially true in Australia where professionals are moving from high cost cities like Sydney to more affordable cities like Brisbane. For businesses, attracting interstate talent is a competitive advantage, access to a wider talent pool and fresh perspectives for the team.
As professionals reassess their living situation and consider moving, they often turn to recruiters for information on opportunities. The right talent acquisition strategy can play a big part in this transition, making sure businesses communicate their unique value proposition. This blog will look at the transferable skills of real estate professionals, a cost of living comparison between Sydney and Brisbane and tips on attracting and onboarding out of state talent.
In this changing world it’s important to acknowledge the skills real estate professionals bring to the table. These transferable skills, negotiation expertise, market analysis and strong client relationship management can be applied across markets, making candidates from interstate a valuable asset. But attracting and retaining these candidates requires thought and understanding of what drives them.
Let’s get into the factors driving interstate migration, the benefits and challenges of hiring out of state and practical tips to help businesses succeed in this changing world.
Cost of Living Comparison
Here’s a snapshot comparing some essential living costs between Sydney and Brisbane:
The Current Situation: Sydney to Brisbane Migration
Since the pandemic many have been reassessing their lifestyle, especially those living in high cost cities like Sydney. Rising costs of living for the essentials and the promise of a more affordable lifestyle in cities like Brisbane have seen a noticeable trend of interstate migration.
Many individuals are seeking a fresh start and often turn to their recruiters first when considering a move. This means that recruiters play a vital role in understanding the motivations behind a candidate’s desire to relocate. Many professionals within franchises observe the success of top offices in other states and express interest in potential opportunities.
Recent trends indicate a notable movement from Sydney to Brisbane post-pandemic. According to a report from the Australian Bureau of Statistics, approximately 25,000 people relocated from Sydney to Brisbane in the past year, seeking better living conditions and career opportunities.
Transferable Skills in Real Estate
As economic pressures continue to influence job markets, many professionals are reevaluating their living situations. In particular, individuals from Sydney and Brisbane are increasingly looking to make a change, seeking opportunities in other capital cities. With the high cost of living in Sydney pushing some to explore options in Brisbane, understanding the nuances of attracting interstate talent becomes essential.
Real estate is a field where skills are transferable regardless of state or city. Professionals in this industry have many skills that can be applied across markets such as:
- Negotiation Skills: Negotiation is key in real estate and candidates from Sydney have a wealth of experience in this area.
- Market Analysis: Knowledge of market trends and data analysis is key to success and can be applied in any market.
- Client Relationship Management: Building client relationships is key in real estate, making candidates with good interpersonal skills a valuable asset.
As professionals reassess their living situation they are turning to recruiters for guidance and information on new opportunities. This is where a good recruitment strategy can play a big part.
Pros:
- Fresh Perspectives: Hiring out-of-state talent brings new ideas and perspectives into the team.
- Skills: Candidates may have skills and experience that can benefit your business.
- Fresh Start Culture: Many candidates are looking for a fresh start and want to prove themselves in a new environment.
Cons:
- Trust Issues: Moving for a job requires a lot of trust and employers need to be able to build that trust quickly.
- Logistical Challenges: Relocation can be complicated and while small businesses may not offer relocation packages they should have clear processes to support new hires.
Onboarding: Interstate hires will need a solid onboarding process to get them up to speed in the new role and location.
Attracting Out-of-State Talent: Tips
- Talk up Company Culture: Small businesses have strong cultures that can be attractive to candidates looking for a supportive work environment. Highlight these in your attraction strategy.
- Personalised Recruitment: Engage candidates early in the process with personalised communication. Ask them what’s driving their move and how the new role fits into their career goals.
- Use Social Media and Networking: Use LinkedIn to reach out to potential candidates in other states. Share stories and insights about your company culture.
- Build Relationships with Candidates: Building relationships early will make candidates feel connected and valued and more likely to choose your opportunity over others.
- Offer Onboarding Support: Provide a structured onboarding process and assign a buddy within the company. This buddy can help new hires get up to speed in the role and local area and feel part of the team.
- Be Transparent about Expectations: Clear communication about job expectations and company culture will build trust and give candidates confidence in their decision to move.
Having a Local Presence
Having local offices in both Sydney and Brisbane provides a significant advantage when attracting interstate talent. By maintaining a presence in both markets, your business can effectively engage with candidates who are contemplating relocation.
Benefits of Having MSR Talent Offices in Sydney and Brisbane- Local Knowledge: Understanding the job markets and cultural differences between the two cities allows you to tailor your recruitment strategy.
- Simplified Communication: Having staff in both locations makes communication and support for interstate candidates easier.
- Enhanced Brand Reputation: Showing you are committed to both markets will boost your brand with potential candidates.
In a rapidly changing job market attracting and retaining out-of-state talent is key for small businesses in real estate. By understanding what drives candidates to move to new cities and highlighting transferable skills businesses can position themselves as employers of choice.A good recruitment strategy, personal support and a great onboarding experience will make new hires feel part of the team. With economic pressures encouraging more people to move, now is the time for real estate businesses to broaden their talent pool and bring in fresh minds.
Attracting interstate talent requires a nuanced understanding of the current job market and the unique motivations behind a candidate’s desire to relocate. With the right strategies and local expertise, you can tap into the wealth of talent available in both Sydney and Brisbane, positioning your business for success in the evolving real estate landscape.
Get the benefits of out-of-state talent. Grow your business. Grow your team.- Local Knowledge: Understanding the job markets and cultural differences between the two cities allows you to tailor your recruitment strategy.
