Working as a Tenant Researcher for Costar. --- I know rules mention no newbie career advices but who can give me better advices than people here ?
Hi there,

I would like to get into commercial real estate. I currently work full time as an investment representative for a major Canadian bank.

A recruiter from Costar contacted me for a Tenant researcher role that I'm sure I could land since they specifically look for bilingual people.. in Toronto. I don't mind the cold calling and metrics since that's pretty much part of my current job. Pay is similar as well. What do you guys think of that and would working for Costar give me any credibility later on?

I'm 20 and less than 2 years from graduation doing full time night classes. I study real estate and finance and will start my salesperson license in Jan.

Thanks a lot
[{"id": "gg3p54a", "text": "Those Costar researchers are annoying AF when they call for info. Not going to get you much respect in the industry.  I\u2019d do it just long enough to be comfortable with rejection and getting people to give you info. Then quit and get an analyst job in a brokerage.  3 months ought to do it.", "replies": [], "depth": 1}, {"id": "gg3p9la", "text": "I know a ton of people in CRE that got their start in the industry at CoStar. It\u2019s not glamorous by any means (as you seem to be aware of) but it gets you in the door in the industry and they will teach you the basic terminology and metrics of real estate. There is pretty high turnover and I imagine you would get bored after doing it for a short while, so just have to go in with your eyes open and understand what you want to learn and how you can use the skills they will teach you and relationships you can start there to network your way into your next job.", "replies": [{"id": "gg3u0dy", "text": "This \u261d\ufe0f", "replies": [], "depth": 2}], "depth": 1}, {"id": "gg3pxwx", "text": "As an agent who doesn\u2019t really rely much on tenant information, I just feel bad that someone has to work in that position. It\u2019s helpful to tenant reps, I guess, but what a pita job. Are there any other positions at CoStar that you could interview for?", "replies": [{"id": "gg3xlps", "text": "Tenant info used to be collected using a multiprong approach that could be helpful in a variety of ways. Now there are two problems:\n\n1) Tenant research is mostly done remotely or 3rd party. Field researchers don't collect that data anymore. So if you're in a 2nd or 3rd tier market or an area with high turnover, smaller name tenants are often missed.\n\n2) The CRM position, who most often taught users the more unorthodox uses for data, are all gone.  Research has been assigned this task. And the national webinars... Which are impersonal.", "replies": [], "depth": 2}], "depth": 1}, {"id": "gg3u59b", "text": "CoStar Research is a tough gig.  V high pressure.  It is a way into the industry (though I'd ask about the track into general research v tenant research), but I'd suggest reaching out to some folks on LinkedIn who have done the job.  Especially since it sounds like the Canadian research is not being done at the main Richmond office, but in Toronto.\n\nAlso, if you do have CSR/sales experience and you want to dip your toes in through CoStar, look at Sales.\n\nBut I will warn you, CoStar employment is not for everyone. Planning and execution are not strong points. You will need to be fast on you feet and know how to do what is asked and ignore the noise.", "replies": [], "depth": 1}, {"id": "gg3w7r4", "text": "Good brand name but don't know how transferrable the skill set is.\n\nEspecially in Toronto, CoStar is still big in Canada but not like in the US.", "replies": [], "depth": 1}, {"id": "gg3y22t", "text": "Get me a free license and you can come work for us on a 3 month trial basis. We\u2019re a small canadian based re group with about 250MM in the US.", "replies": [], "depth": 1}, {"id": "gg41g3h", "text": "Super annoying. They want all my rents and leasing info only to sell it back to me later. That said it is the most well known cre platform in the US. You will see tons of deals and which ones are selling. It would be a great education. Don\u2019t stay long at that role and try to work up into the disposition analytics. That may lead to a analyst role elsewhere. And don\u2019t call me asking what I leased one of my buildings for.", "replies": [], "depth": 1}, {"id": "gg42207", "text": "I just think it's hilarious that everyone knows working at Costar can be a shit job.\n\n Nevertheless it is an opportunity to learn CRE. Make as many connections as you can branding yourself as a diligent reliable human to the agents/ brokers and other colleagues. Stay out of the bs and remember they are going to want a lot of your energy like a vampire. \n\nyou've got this and if you don't get the job- something better is on its way", "replies": [], "depth": 1}, {"id": "gg42x0i", "text": "Try to get a job as an analyst elsewhere. You are young and you should plan your career more carefully. Here is a good real estate podcast https://podcasts.apple.com/us/podcast/leading-voices-in-real-estate/id1193591199", "replies": [], "depth": 1}, {"id": "gg46ppc", "text": "If you do decide to get into CRE via Costar, don't work for them in the same market where you eventually want to work as an agent/broker. In my market, a few have started that way, but because of the horrible reputation and general overall mistrust and hatred brokers in my market have towards Costar, those agents had negative credibility from the get-go.\n\nYeah, you'll learn some of the lingo, and gain some understanding, but even in a city as big as Toronto, CRE is a small market compared to residential. If you want to start in the research side (and on a paycheck instead commissions only), I'd recommend maybe looking for similar work with a true research firm (Integra Realty Resources, Moody's Reis, or similar if they aren't in Canada).\n\nAt least in my market (a top 10 US Metro MSA), Costar has made enemies of nearly every broker around.", "replies": [], "depth": 1}, {"id": "gg48wq3", "text": "The folks I\u2019ve come across from costar are always top notch. I would not pass up a job with them. That\u2019s your foot in the door. Especially in a pandemic", "replies": [], "depth": 1}, {"id": "gg4x58v", "text": "Fuck DarkStar. Call your top brokerage houses and offer research services to them rather than DarkStar. \n\nYou won't learn shit about the business working at DarkStar. Most brokers and owners I'm affiliated with hate DarkStar and alot of the information provided is flat out wrong because we hate DarkStar. The only DarkStar lovers in the business are the BoilerRoom zero knowledge \"investment\" single tenant brokers. \n\nIf you truly love real estate, you'll learn much more about the biz being a minimum wage bitch at a top brokerage house for a team or broker than you will at DarkStar. Plus I'd call the brokerages and ask for meetings because it shows you have some stones. As long as you have something to offer, they'll probably take a lunch or breakfast with you.", "replies": [], "depth": 1}, {"id": "gg54ihp", "text": "Depends on where you want to start in commercial real estate. If it's an entry-level brokerage role having two years of intense cold-calling with some industry familiarization might help differentiate you as a candidate. Like them or not most brokers know CoStar and understand that the role is a grind. Anyone that can last for a few years must be a hard worker and able to follow a program, especially while completing an undergrad program. I'd talk to some people who have done the role to determine if you can really stick it out for the next two + years. Understand that they will be biased which may be good since they can point out the downside - for you it's a relatively short-term means to an end. In any case jump on the chance to interview, it's great experience either way.", "replies": [], "depth": 1}]