Choosing among real estate executive search firms is one of the more consequential calls a hiring leader makes, because the right partner shapes who ends up running your properties, your portfolio, or your company. The best choice comes down to focus, reach, process, and fit. A firm built for commercial real estate executive search understands your asset classes, your titles, and your market in a way a generalist recruiter cannot. This guide helps owners, CEOs, presidents, and HR leaders weigh what to look for, the questions to ask, how engagement models differ, and the red flags worth avoiding.
Key Takeaways
- Favor firms with exclusive focus on commercial and multifamily real estate, not generalists.
- Match the model to the role: retained for senior, confidential searches; subscription for volume site-level hiring.
- Ask how candidates are sourced, who runs your search, and how confidentiality is protected.
- Watch for red flags: no sector depth, an opaque process, and overpromised timelines.
Why does the choice of search firm matter for senior real estate hires?
A senior real estate hire influences far more than one seat. The leader you place can set leasing strategy, protect asset value, steer development, and shape culture across a portfolio. The firm you choose determines the quality and fit of every candidate you get to consider. A strong process surfaces leaders who are not looking but are worth moving for.
Getting it wrong is expensive. A leadership mis-hire can stall initiatives, unsettle teams, and force you to run the search again. According to Forbes coverage and general HR data, a bad hire typically costs anywhere from 30% of an employee’s first-year earnings up to multiple times their annual salary, depending heavily on seniority and role. For leadership positions, a bad executive hire can surge as high as 213% to 27 times base pay.
What to Look For in Real Estate Executive Search Firms
Real estate executive search firms differ most at the senior level. Five attributes separate a specialist from a generalist: sector focus, role range, research reach, confidentiality, and the engagement models they stand behind.
Exclusive focus on commercial and multifamily real estate
A firm that lives in commercial and multifamily real estate knows the asset classes, the titles, and how pay moves by market and discipline. It can tell a strong multifamily operator from a strong office or industrial one, and it keeps affordable housing expertise distinct from market-rate experience.
Range from site level to the C-suite
Ask how wide the firm’s range is. A partner that recruits from site level to the C-suite can run a regional manager search this quarter and a C-suite search next year, with consistent standards across both.
Research reach and network
Reach separates a real search from a job posting. Strong firms combine proprietary candidate data, real estate market intelligence, and deep industry networks to reach passive leaders who never apply. Ask what sits behind the shortlist you receive.
Confidentiality
Confidentiality protects sensitive searches. When you replace a leader who is still in the seat, the firm must control outreach and messaging so word does not travel. Ask exactly how it manages a discreet search before you begin.
Engagement models and guarantees
The best partners offer more than one engagement model and recommend the one that fits the role, rather than forcing everyone into the same contract. Reputable firms also stand behind their work with a guarantee.
What questions should you ask before engaging a search firm?
Treat the first conversation like an interview. The firm will represent your brand in the market, so ask direct questions and expect clear answers. The strongest real estate executive search firms welcome the scrutiny.
- Do you focus specifically on commercial and multifamily real estate, and which asset classes do you know best?
- What levels do you place, from site roles to the C-suite?
- How do you source candidates beyond job boards and reach people who are not looking?
- Who on your team actually runs my search, and how senior are they?
- How do you protect confidentiality on a sensitive or replacement search?
- Which engagement model do you recommend for this role, and why?
- How do you bring compensation and market data into the process, using resources like a current real estate compensation guide?
How do the engagement models work, and when does each fit?
Engagement models decide how you pay for a search and how much of the firm’s attention you get. Four cover most situations: retained, contingency, a subscription for site-level hiring, and permanent placement. The right one depends on the role’s seniority, sensitivity, and volume.
Retained search
Retained search fits senior, confidential, or hard-to-fill roles. You engage the firm exclusively, and it commits dedicated research and senior attention. This model suits C-suite hires where quality and discretion matter more than speed. Retained fees are typically structured in stages rather than paid only on success.
Contingency search
Contingency search fits roles where you want a wide net and pay only when a hire is made. It can work well for less senior or less sensitive positions. The tradeoff is that the firm may run several searches at once, so your role competes for attention.
RecruitPlus subscription for site-level roles
For companies with steady, site-level hiring needs, a subscription can be more efficient than one-off searches. H Two’s RecruitPlus is built for site-level roles only, in packages of 2, 4, 6, 8, 10, or a custom number of searches. It suits owners filling recurring positions such as property managers, leasing staff, and site teams.
Permanent placement
Permanent placement covers full-cycle hiring for a permanent role, from sourcing and screening through to the offer. It fits standard openings where you want an end-to-end hire without a retained engagement.
What are the red flags to avoid?
Warning signs show up early. If a firm cannot speak your sector’s language, dodges questions about process, or pushes one contract regardless of the role, keep looking.
- No real depth in commercial or multifamily real estate, only general recruiting.
- A vague process with no clear research plan or sourcing strategy.
- One engagement model pushed for every role, regardless of fit.
- Reluctance to explain who runs your search or how confidentiality is handled.
- No willingness to stand behind the work.
Why do employers work with H Two National?
H Two National is a national executive search firm dedicated exclusively to placing exceptional mid- to senior-level talent across all real estate asset classes and disciplines. It recruits nationally for the commercial and multifamily real estate industry, from site level to the C-suite. Founder and CEO Leo Turley brings 43 years of industry experience. President Katlyn Turley, Leo’s daughter, joined the family’s search practice in 2013 and has led as President since 2019.
That experience is backed by scale. H Two has completed more than 5,000 searches. Its research draws on a proprietary candidate database of 252,470 professionals, a real estate data platform with visibility into more than 7 million U.S. commercial properties, and a contact database of more than 34 million mobile numbers. The firm also maintains industry association affiliations, including NAHMA, NMHC, NAA, ICSC, NAIOP, and IREM.
H Two offers retained search, contingency search, the RecruitPlus subscription for site-level roles, and permanent placement, and it stands behind its work with a guarantee.
The typical timeframe for a search is 60 to 90 days, from commencement to the start date of the person placed. Senior roles can take longer; the main variable is the hiring manager’s responsiveness and their ability to interview and process candidates.
A difficult search that became a lasting relationship
One of our most challenging searches involved helping a client hire a President during a period of executive succession and organizational restructuring. As priorities evolved through the transition, we worked closely with the outgoing CEO to understand the vision for the role, then realigned when the incoming CEO had a different perspective on compensation and the qualities most critical for the position. Although we advanced the search to the offer stage, the company chose to pause until the leadership transition was complete. A few weeks later the new CEO re-engaged us; rather than treating the pause as a setback, we realigned the search strategy, worked through differing expectations, and kept everyone moving toward the same objective. We ultimately placed an exceptional President who was the right long-term fit. What began as one of our most difficult searches became one of our strongest client relationships, resulting in eight successful hires and counting across the organization, from C-suite to site-level leadership.
To talk through the right approach for a specific role, start a search with our team.
Frequently asked questions
What is the difference between retained and contingency search?
In a retained search, you engage a firm exclusively and it commits dedicated, senior attention, which suits confidential or hard-to-fill leadership roles. In a contingency search, you pay only when a hire is made, which fits less senior or less sensitive positions where you want a wider net.
When does a subscription model make sense?
A subscription fits companies with steady, site-level hiring needs across a portfolio. H Two’s RecruitPlus is built for site-level roles only and comes in packages of 2, 4, 6, 8, 10, or a custom number of searches, which can be more efficient than commissioning one search at a time.
How do I start a search with H Two National?
You can contact the H Two team to discuss the role, its seniority, and the right engagement model. For pay benchmarking as you plan the hire, review the 2026 real estate compensation guide.
The bottom line
Choosing well comes down to fit. The strongest real estate executive search firms know your sector, reach the people you cannot, protect your confidentiality, and match the engagement model to the role. When you are ready to plan a specific hire, talk to our team about the approach that fits it best.