Transaction Managers
I’ve come across a few lately for some of the bigger firms. What exactly do they do and how do they get paid?
[{"id": "f4xj3ij", "text": "They usually represent the larger accounts (government agencies, F500 companies) for the larger brokerages (JLL/CBRE/C&amp;W).\n\nTheir responsibilities vary a lot. Some will help with construction/development matters, some asset management and leasing, some sales, some leasing from the tenant rep side, some property management, and some sourcing acquisitions.\n\nPay would depend on the level of the position and experience of the candidate. $60-90k for most I'd suspect. I would expect bonuses for the more transactional teams but the larger brokerages have corporate contracts with these clients so you would have a base.", "replies": [], "depth": 1}, {"id": "f4z7i6m", "text": "The role of a Transaction Manager varies by firm. If you work in Brokerage, it essentially means your responsibilities are a blend of providing analytical support to the brokers you work under and transaction management - coordinating the closing process, corresponding with all affiliated parties and the client, preparing paperwork, etc. You'll find these positions at the larger brokerage houses (CBRE, JLL pre-HFF merger mainly, Newmark). In contrast, if you work in Leasing for instance, your responsibilities may include signing new tenants and preparing affiliated paperwork related to leases.\n\nAs mentioned below, a TM may also work for government agencies or air on the side of corporate real estate. All in all, primary responsibilities include orchestrating a transaction whether it is a lease, sale, or purchase. Additional responsibilities may include providing financial and analytical support, constructing marketing packages, reviewing and abstracting leases, etc. \n\nMy whole career has been in brokerage. The typical career trajectory of a TM in brokerage goes TM --&gt; analyst --&gt; investment sales broker.", "replies": [], "depth": 1}, {"id": "f523fcu", "text": "Jump to analyst - 6 months to a year and then become a broker once you have gained the analyst skill set and learned how to pitch a deal.  If not, find a good mentor to train you as a runner.  Try to avoid the pump and dumb shops or brokers that want a part of your fees 3 to 5 years later when you are actually doing well.", "replies": [], "depth": 1}]