What types of positions in commercial real estate have the "best" work/life balance?
I've been looking to make a career transition and while not the MOST important factor I would like some insight into what types of jobs don't typically require &gt;50 hours/week.

Sorry if this is a silly question. Thank you.
[{"id": "ckj4brp", "text": "Underwriting probably has a better balance than the valuation side. Asset management could very well be the best balance, but also the most difficult position to attain.", "replies": [{"id": "ckj6p5d", "text": "What do the hours look like on underwriting side? Tough gig to get? ", "replies": [{"id": "ckjkmqd", "text": "Not too tough. Finance background? Any RE and banking experience helps. I'd expect 45 hour weeks. ", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "ckj7wr8", "text": "i think it's going to depend on the firm and deal flow... bigger firms can afford more staff and so probably achieve better work/life.  small shops can be real drains, but it depends on the team your with and amount of deals you get.  Usually, as closings approach no one has a life in my experience.", "replies": [{"id": "ckjbag7", "text": "Thank you for the advice. What about a company say like CBRE to be specific?", "replies": [{"id": "ckjwyl1", "text": "if you would be in sales the work life thing goes out the window b/c you are working on commission, so how much or how little you work will have to do with your deal momentum... which is a term i just made up to designate the number of deals you currently are marketing and how difficult they are to place.  when you work for a commission you in many ways are your own boss, which some say you get to choose which 12 hours a day you work (that's a joke, because you have to work a lot).\n\nif you are a quantitative guy, so you build models, maybe investment management/asset management/acquisitions, what I do... you live a very different live from sales.  you commission on a deal is smaller, in fact it may come from a year end bonus, but your base compensation is bigger.  in my firm we are chronically understaffed, but i still rarely work more than 50 hours in a week, unless a deal is being closed.\n\nif you are good at sales you can make a killing, and not work as hard as the average sales guy... that's not my scene i like to develop an investment thesis and model the asset's projections.\n\na group like CBRE should usually have sufficient staffing to not force you to work around the clock... but working for commissions can still zap all of your free time.  sales is a 24/7 beast.", "replies": [{"id": "ckl08tf", "text": "I work in CRE brokerage.  I took a vacation a few weeks ago leaving a voice mail saying I'd return calls within 24 hours with an emergency contact to someone else in my office.  An investment firm called me at 7pm one night about something, sent me an email, then called my emergency contact at 9am the next day wanting to know when I'd respond.  That isn't insanely uncommon if you go into sales, so just be aware of that I guess.", "replies": [], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "ckj8pud", "text": "I've found this to be true: if you want to work few hours on CRE, work close to the property level and away from third parties.\n\nThe closer you work to the property level, the fewer hours are required. These are jobs like operations manager, property manager, and property accountant (accountant for the PM company). These are not the most glamorous jobs and they have the shortest ladder (direct route to fame/fortune), though they are easiest to attain.\n\nThe closer you get to the asset level (aka find level aka debt/equity level), the more hours are required. These are jobs like asset manager, acquisitions officer, underwriter, and investment analyst. These jobs are harder to get, have long ladders that can take you to higher earnings, and are difficult to attain.\n\nThe more forward facing your job is, the more time you'll need to invest. By forward facing I mean front of the house or outwardly interacting - you're interacting with third parties to produce profitable transactions for the company. Forward facing has it's benefits of course, being higher pay and the like.\n\nAt the property level, for example, a property manager is more forward facing than an operations manager, and will see a higher time requirement owing to that aspect of the job. A leasing agent is very forward facing, and if doing their job well will spend many more hours on work than a typical property accountant.\n\nAt the asset level, assets managers and acquisitions officer are forward facing, needing to visit properties, network and entertain brokers, and communicate with various third party partners. Going golfing in Southern California is a potential job requirement, which may feel more like \"work\" than \"life\" once you're catching layovers, skipping family events, and working weekends to make the tee-time.\n\nSo the answer for working fewer hours in CRE is to take a job that is not forward facing and is close to the property level. It's the opposite advice that I'd give to someone who is money motivated, however, so balance accordingly. Time requirements are also largely dictated by the company for which you work, so be sure to get the low down before hopping into a new shop.\n\nGood luck.", "replies": [], "depth": 1}, {"id": "ckjl3an", "text": "Being a broker", "replies": [], "depth": 1}, {"id": "ckkbic5", "text": "I would say brokerage has the best balance as its the most entrepreneurial and depending on the firm allows you to choose your hours. ", "replies": [], "depth": 1}, {"id": "ckmsqz8", "text": "If you're nervous about long hours, you'll want to stay away from the brokerage side. Once you are established, the work/life balance is second to none, but when you are starting out, its a grind and a half. If you don't put in the hours, you won't be a broker anymore.\n\nOne of the main reasons is the fact that you need to be calling outside of normal business hours because to get past the \"gate keepers\" (secretaries, etc) its best to call before they get in or after they leave so decision makers dont have anyone screening calls.\n\nSource: 2 years as a tenant rep broker at a major shop. Grinding.", "replies": [{"id": "ckmxa6m", "text": "What do you do now", "replies": [{"id": "ckmykdn", "text": "Still doing it...", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "ckt0s22", "text": "I know it's been a while since you asked, but have you thought about commercial appraisal? It is deadline-driven, which can lead to a time crunch, but you can work at your own pace, set your own hours, and once you get enough experience, can make a pretty good living without having to put in 10 hour days or work 7 days a week.", "replies": [{"id": "ckt20co", "text": "Funny you mention that. I'm speaking with CBRE about a valuation role but it seems like it might be a bit boring?", "replies": [{"id": "ckt2dkh", "text": "The national firms tend to be a bit more of a grind, because they will demand more of your time and demand that you spend it in their office.  However, it's anything but boring.  There is exposure to all kinds of property types, new markets, there's a potential for travel.  \n\nI was with a competitor of CBRE, and there was a lot of portfolio work.  I got to do appraisals of grocery stores in the Midwest, muffler shops in the southwest, huge distribution warehouses on the Mexico border.  \n\nThe biggest downfall was, a lot of corporate influence.  Ultimately, most appraisers work in private shops, which can't compete for that huge portfolio work, but there's still plenty of diversity and potential for specialization if you find a niche you really enjoy.  I love doing hotel work, we have one guy in our office who specializes in residential development, and a woman who loves apartments.  When you get a reputation as the best, or even the only, person who can appraise whatever (golf courses, shopping centers, pipeline easements, office towers), it can be very lucrative.", "replies": [{"id": "ckt3pqh", "text": "Thanks so much for the insight. Maybe I'll try to learn some more about it.\n\nI kind of wanted to get onto the development side eventually.\n\nWhat do you do when you appraise a hotel?", "replies": [{"id": "ckt485y", "text": "A hotel appraisal, like any commercial property, is all about the property income.  It's different from leased property in that the revenue is less predictable.  You look at the history of revenue, occupancy, and expenses, look at the market, competitors and what they're earning, new competition coming on, projected changes in tourism, population, many other factors, and project what is likely to happen to income over the next several years.  Then, you determine what investors are paying for comparable properties, and capitalize the income to determine market value.", "replies": [{"id": "ckt4dgq", "text": "Very interesting. Mind if I send you a pm?", "replies": [], "depth": 6}], "depth": 5}], "depth": 4}], "depth": 3}, {"id": "cky9os1", "text": "I worked for CBRE in a market regarded as the industrial hub of the west coast. Our industrial market alone was roughly 410,000,000 sf. For a single office our market was massive (by land sf). In our office of roughly 40-50 brokers we had a single in house commercial appraiser. I was a junior industrial broker and spent a lot of time chatting with him. I think he worked roughly 40-45 hours a week. He told me that in the entire market there were only about 5 commercial appraisers. There are very few openings for the position. The pay is not all that great and you have to get special licensing in order to do commercial appraising. It requires years of experience as well (like 8+). If your background in real estate is minimal there are very few options for making good money without working 60+ hours a week. That being said the appraisers typically have one or two young assistant/apprentices working for them, but they are expected to work longer hours. If you have very little experience and want to break into the industry I'd look at a researcher position. They work normal 9-5 hours and have the ability to move up in the business (usually into becoming a broker). They don't make very much though. There's usually one researcher for each specialty. At our office there were a total of four. Most competing brokerages have one researcher for an entire region or none at all. \n\nSorry for the doom and gloom. It's a rough business for starters. Best advice I can give you is to network. It seemed that every new hire knew somebody. ", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "cl420v6", "text": "Something that no one has commented on are all the CRE Tech companies that have popped up (with major financing) over the past 2 years. [Honest Buildings] (http://www.honestbuildings.com), [View The Space] (http://www.viewthespace.com), Hightower, [TheSquareFoot] (http://www.thsquarefoot.com), Floord, the list could go on. Just google commercial real estate tech and you will find 10 to 15 of them in New York alone. ", "replies": [{"id": "cl43021", "text": "I actually had a phone interview at Honest Buildings. Seemed cool but wasn't as desperate as I am now and it was kind of a salesy role.", "replies": [], "depth": 2}], "depth": 1}, {"id": "cl5gp7w", "text": "You should look into smaller CRE brokerage firms, in a niche industry.  I worked for a net lease firm and there were researchers who worked about 45-50 hours a week but could work from home as long as they got their billing hours done.", "replies": [], "depth": 1}, {"id": "cl64jz7", "text": "Broker. You make your own schedule. Some days I only work 1-2 hours. When you eat what you kill, you work however much you want. That said, I worked 55-60 hour weeks for the first 3 years in the business. If being a broker were easy, there would be a lot more brokers and the commissions would be a lot smaller. \n\nSource: I just closed the largest transaction of my career - a $180M, 15 year office lease.", "replies": [], "depth": 1}]