Career in Commercial Real Estate
Hey guys! 
So, im currently a junior at the University of Southern California (USC) majoring in International Relations and minoring in Global Communication. Ive come to that point where im planning what to do after college and although everyone advices me to go to law school or business school, i REALLY want to go into commercial real estate out of my undergrad and worry about graduate school later on down the road.  Does anyone have any advice for someone interested in a career in Commercial Real Estate? Ideally, im looking for a position with a steady income opposed to JUST commission, but i dont really know how or where to start. Thanks!
[{"id": "coudob1", "text": "This is probably not what you want to hear but being a W2 employee is overrated. Full commission is tough but the sky is the limit.\n\nMy first year in brokerage, I quit my \"steady income\" job, moved into my grandmas basement and ate rice and beans all year. It was tough but now, just a couple years later, I make twice what my friends make and basically have full control over my schedule. \n\nI recommend setting up a few meetings with people in all different realms of the industry to get a feel for it. Definitely talk to the management of some large and small brokerage firms. If you decide to go into brokerage, find a good mentor! It's critical.\n\nThere's all sorts of people who are paid salary but manage the CRE for REITS, development companies, holding companies, and companies in general (goodwill, dunkin donuts, etc). You'll usually find titles like Director of Acquisitions/Dispositions, Asset Manager, Director of Facilities, Project Manager (development companies), etc. As a college student you have the rare opportunity to ask dumb questions and lean on those more experienced than you. Take advantage of that! \n\n\n\n\n\n", "replies": [{"id": "couh60j", "text": "Just to add to this, be prepared to go without a check for the first 1 to 2 years. ", "replies": [], "depth": 2}, {"id": "covnv59", "text": "If you don't mind me asking.. how old were you when you quit your \"steady income\" job and jumped into CRE?", "replies": [{"id": "cowft7v", "text": "I was 27, 30 now. ", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "couekn4", "text": "smalls244 nailed it. I was in your shoes just a few months back. Recently graduated with an undergraduate degree in finance. Always wanted to be in real estate so immediately got my license right out of school. I started talking to commercial brokerages a year before I graduated, and I couldn't find anywhere that would hire me. NAI was the only ones who actually had interest in me and had an internship program that I could start from the bottom of and work my way up. But that fell through either because they found someone else or they just didn't want interns at the time. So since I couldn't find my way into commercial, I joined Keller Williams for residential. Fast forward two months and I finally found a commercial brokerage willing to take me in and mentor me. It is a firm that just started and I was lucky to find at the perfect time. They needed additional help and I was willing to provide it. The only thing is its only commission. You mentioned you want to be on a payroll but that will be hard to find. It will have to be a big company with a job description of administration or something. My recommendation to you is to find a mentor, someone who is willing to help you grow your knowledge and have you work with them while you learn. If you are lucky, they will co-list properties with you so you can have some income if they manage to sell the properties. This will allow you to help them communicate with other brokers about the property, send/receive letter of intents, draw up contracts, sit through listing presentations, and sit through closings.  If you can jump right in to the commission job, do it. But know that you will be living on scraps for a little while. Also, don't expect immediate returns. It will prob take a couple years to really feel like you have a good thing going. Not saying that it will take a couple years to make money, just that it will take a little while to get established. It this job was easy, everyone would be doing it. One more thing, you want to join as many clubs/organizations as possible so you can get your name out and network as much as you can. ", "replies": [], "depth": 1}, {"id": "coufxa2", "text": "Get into research or analyst position at a BIG firm if you need a salary. Learn the business as much as you can from a salaried position. When you met enough brokers, learned enough about the market, then you can enter brokerage. Eventually you will have to take that plunge into commission, I'm currently about to make the jump!", "replies": [{"id": "cpns72w", "text": "I have an interview for a summer position with a Commercial RE firm. It's in Acquisitions and most likely if they like you, they say it'll lead to a full-time salaried position as an Acquisitions Analyst. Well, I want flexibility and commission based job, not so much an office job.  \nStill a good option to go the analyst route first? What if I don't NEED the salaried position and can go 6mo-1yr without the salaried pay? ", "replies": [], "depth": 2}], "depth": 1}, {"id": "cowph1g", "text": "A general route to brokerage is starting in the research department. Many teams are not willing to take on an individual without really getting to know them and their work. As a researcher you will have a paycheck, get to know the area, and start making connections with brokers. \n\nBrokerage though is not known for its steady income as a warning. Might want to be looking at the investment side as an analyst. Should start developing some financial skills.", "replies": [], "depth": 1}, {"id": "cp03xxs", "text": "USC has a top notch real estate program + alumni network. I recommend you join the real estate club which is most likely in the business school and start reaching out to seniors in the club who are about to graduate. They can really help you from top to bottom. If you need any advice please feel free to message me. ", "replies": [], "depth": 1}, {"id": "cr0j08y", "text": "Hi fellow Trojan!  Great news - USC has a fantastic master's program in real estate.  There are other programs as well (NYU is one example).  Education is always a good start.\n\nOther than that, you should consider looking into jobs with private-equity type investment firms that focus on real estate.  Examples are Blackstone, Walton Street Capital, Oaktree Capital Management, MB Real Estate, etc., etc.\n\nLaw school is great if you want to get into the legal side of real estate, but it is expensive and not necessarily worth it if you don't get into a top school (generally, top 14).", "replies": [], "depth": 1}]