What degree is recommend for joining the CRE Market?
I am starting university soon and I am interested in becoming a broker. I have family friends who are in the business and they recommend I pursue an MBA. I was wondering what degree you have received and if it helped you get the job. Thanks for your time.
[{"id": "cqbwxha", "text": "I'm an accounting major (not a broker). I would say it doesn't really matter (business, english, whatever) as long as you have a good work ethic, can work with people and learn the proper math. Don't necessarily need an MBA to succeed. ", "replies": [], "depth": 1}, {"id": "cqbyd1z", "text": "Most people in brokerage I know have either a bach or mba in finance.  The exceptions would be the guys who did something else for most of the careers and then switched.  We have a few like that who ran companies etc then sold them off and fell into CRE.  I'm not sure what their education is like.  The new guys though, all finance mostly.", "replies": [], "depth": 1}, {"id": "cqbz8tq", "text": "Brokerage may be one of the last professions where someone can pull in six figures without a degree or owning anything.\n\nI think the best brokers have juris doctorate. They understand the legal aspects of any given deal in your state(s) and probably do enough deals to pay the Law school loans, otherwise they would be working as counsel. \n\nIf anything, undergrad business /finance if only to polish your vocabulary and get a foot in the door. \n", "replies": [{"id": "cqc2ezo", "text": "Well I don't think it's necessarily just brokerage as much as it is sales. Most salespeople tend to not make it, but the ones who do...no one's gonna give a shit what your qualifications are if you can close deals and make it rain, regardless of industry. ", "replies": [], "depth": 2}], "depth": 1}, {"id": "cqc7s7g", "text": "Depending on how intense of a program you want to go into, I would say to go into accounting, finance, or communications. Also a political science degree can be useful and relevant.  As others have said, it doesn't really matter.  But I think accounting and finance will help you get to know the basics of business in general.  \n\nI have an MBA, and it's been extremely helpful in 1- finding a job and 2- getting me started with the basics of investment sales.  Specialize in a real estate relevant field if you can.      ", "replies": [{"id": "cqca7g9", "text": "Can you elaborate on how a political science degree is useful and/or relevant? That is my degree currently and I graduate next month; I guess I want to know how to market it.", "replies": [{"id": "cqcdemr", "text": "No matter if it is a lease or an investment you will at one point of every deal have to be in contact with someone from the city. Mostly dealing with zoning, planning or RDA. \n\nWhen I was trying to get into the business I would let the manager know that I had done a lot of volunteer work with local city officials. I personally knew the mayor and knew one of our county supervisors very well (he helped get me into the biz) I got to work on his congressional campaign and through that met many other big players in our region. It's all networking, the more people you know the better off you are (or seem). Also, with my degree I can run for office while I'm still working as a broker. Then I get the inside scoop with all the city/region happenings and can make more informed decisions for clients. This is how you add value with a Poli sci degree.  \n\nThis used to be a lot more beneficial when it was a boys club. Now there are a lot more rules and it's frowned upon to represent the city while having a business interest in what's going on. Still doable though.", "replies": [], "depth": 3}, {"id": "cqcmlh0", "text": "If you want to be a good broker, sometimes you are going to have to navigate through state and local governments effectively (and maintain good relationships with elected and appointed officials).  A potential tenant or buyer may need a zoning change,  an economic development incentive, or any number of other things to get a deal done.  It actually happens more often than you may think.  ", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "cqccqi2", "text": "I'm a poli sci major. A bunch of the guys I worked with were government or poli sci, even a few literature majors.\n\nIt doesn't really matter as much as you think, but I guess it would help if you went for business admin, econ, or finance. At some state or private schools you can major in real estate. USC for sure and I think USD have good degree programs specifically for commercial RE.\n\nDon't waste your money on a graduate degree. None of the top earners in my office had one. They all had bachelors and from not even that great of schools. Basically the first 3 years you put into the business are like getting a graduate degree except you come out at or hopefully above $0 not -150k. Those years of experience/networking will outweigh anything you learn at grad school. Unless you have really nice parents, how do you expect to pay off those education bills when you are not making a damn thing the first year?\n\nIf you want to get into the economics/analysis side where you are paid a salary or you want to get into development then go ahead and get a grad degree. \n\nRemember most managers who are the gatekeepers to brokerage, were brokers and only have a bachelors. Sounds bad, but they typically don't want to hire somebody who is going to come after their job.\n\n", "replies": [], "depth": 1}, {"id": "cqcmoqd", "text": "For what it's worth, I wish I would have skipped my bachelors and gone straight into brokerage. I'd be $40k less in student loan debt and 4 more years experienced.\n\nA few coaching classes and CCIM courses should cover your basic knowledge. Experience, in my opinion, covers the rest. \n\n\n", "replies": [], "depth": 1}, {"id": "cqgmm49", "text": "Some universities - UW Madison, University of Denver - offer degrees in real estate. Another route would be to get an entry level RE job and work towards your CCIM. I'd say the material you learn in CCIM classes is equivalent to a degree program. Plus, to get the CCIM designation you need to complete an experience portfolio requirement. ", "replies": [], "depth": 1}, {"id": "cqjeehe", "text": "Here is what I did to break into commercial.\n\nI got into RE with intent after a few years to get into commercial but I was prospecting and a commercial client fell in my lap. He gave me a shot knowing I was new but liked how I was reaching out asking if I can try to earn his business. He told me he hates two things in like #1 Realtors and #2 car salesman. Well, I earned his business and after being in commercial for 4/5 months of my entire career I have done over 6M in sales with this client.\n\nMy entire commercial department sits at my door with pitchforks.\n\nI have a degree in wind energy, series 7, and I wish I didn't waste any time in college and jumped into RE. \n\nI'd recommend a lot of public speaking, micro/macro economics, psychology in college if you still go that route. I went up against our #1 broker in my company in a listing presentation and I crushed it and I got the client.\n\nWhen a broker tells you that you're too young in the business or too young just in general, just know they're scared you're going to have the confidence to go out and perform better then they are. \n\nEDIT: Client told me realtors are now just #2 people he cannot stand :)", "replies": [], "depth": 1}]