Changing brokerages. Does anyone here work for CBRE in brokerage?
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[{"id": "ir37e6v", "text": "At one of the other firms you mentioned, but between them I see very little difference. Join a team, not a firm", "replies": [{"id": "ir44fn3", "text": "I HIGHLY reccomend SVN sfrhub advisors.", "replies": [], "depth": 2}, {"id": "ir4px56", "text": "This is the way.", "replies": [], "depth": 2}], "depth": 1}, {"id": "ir3iig5", "text": "I\u2019ve built a team under M&amp;M and I\u2019ve had a great experience, but with the caveat that I had to grind it out myself for years before building the relationships and traction that has sustainable business. I have been there for 10 years and in that time we have built a process that fast tracks new agent success, but the sales cycle in general is just longer than most other businesses and so there is no instant gratification unfortunately. Our new agents still have to slug it out for 8 months to a year before seeing any real fruits of their labor. Team culture though is important. If you can\u2019t get along with your senior agents or other agents on the team and lift each other up then it\u2019s easy to justify activities for self preservation. No matter what your path, the industry is difficult to break into. Build a tribe of like minded friends, colleagues, and clients in the industry and you will survive. Good luck!", "replies": [{"id": "ir47hey", "text": "Thank you James.\n\nI agree with this. \n\nIt\u2019s very unfortunate how things played out under the circumstances I was enduring.\n\nWhat are your biggest red flags for potential mentors with a team?", "replies": [], "depth": 2}], "depth": 1}, {"id": "ir3o871", "text": "Hahaha. Like every Marcus broker ever. Drive around, whose signs do you see? The big green machine? \n\nGet that on your resume and welcome to the biz.", "replies": [{"id": "ir8jn1o", "text": "I love that this is the most upvoted comment on this thread. I think the green machine is my next stop", "replies": [], "depth": 2}], "depth": 1}, {"id": "ir3uf0w", "text": "Was on an IS team a couple years back, it is one of the most recognizable brands in CRE and at this stage of your career would be a great thing to add on to your resume. With that said, your team is going to ultimately determine your experience and should come before anything else", "replies": [{"id": "ir4xwlu", "text": "I\u2019m newly licensed and agave two YOE out of college in management consulting advisory, I\u2019d love to get an opportunity in debt/ equity placement or investment sales. How did you get into investment sales at CBRE?", "replies": [{"id": "irks26n", "text": "Sadly, my answer is pretty uninspiring\u2026 I just applied through my school\u2019s portal and then went from there. However, what I can say with confidence is someone will be willing to take a shot on you with a management consulting back ground. The biggest thing for you will be to provide a compelling answer to the question \u201cwhy CRE\u201d or some general version of this question \u201cwhy do you want this job?\u201d Etc. If you have a compelling answer and demonstrate a grasp of basic RE concepts, you should be in good shape. I would also say that any IS / D/E shop will be great experience on the right team (JLL, Colliers, Eastdil, C&amp;W, etc). I wouldn\u2019t just restrict yourself to CBRE although it is a great company. I also know CBRE in Sam Diego as well as a couple of other offices have consulting wings that would view you as a top candidate", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "ir44hph", "text": "I understand this isn\u2019t the initial point of the thread but would love to hear more about your experience at M&amp;M. I have an interview with them next week and have heard way more negative things than positive", "replies": [], "depth": 1}, {"id": "ir45f50", "text": "I think it depends on your local market and the asset class you are working in. I\u2019m in west coast canada so JLL is not big here. But it really depends and who are you working with too.", "replies": [{"id": "ir4x37k", "text": "100%\n\nfor example in the data center space if you use anybody other than CB or JLL, then you deal with clowns who don\u2019t get infrastructure and can\u2019t close deals", "replies": [{"id": "ir8jedw", "text": "People are downvoting this but it\u2019s definitely not the first time I\u2019ve heard this. I don\u2019t think it applies to everyone tho", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "ir6032e", "text": "Worked for M&amp;M for about 5 years...had my own team but left to work for KW and now I'm with EXP Realty. M&amp;M trains agents well to learn to hunt for business but there's SOOO much more to the business.  \n\nDon't fall in the bias that only Commercial Brokers are making money bc I've met some heavy hitters in the residential space that are just as, if not more, successful.  As mentioned previously, interview with a bunch of teams and brokerages and find people you want to work with.\n\nI would find out how their agents are sourcing leads, what is going to be expected of you day in and day out.  I personally realized my network would serve be better at a brokerage where I could sell Condos, Single Families and 2-3 family properties.  Where I'm at I can sell a 6 fam or a condo, doesn't matter.", "replies": [{"id": "ir6al4u", "text": "Thanks for your response. Funny you mention this. I have an offer from KW right now and am going through the process of interviewing with as many people as possible. The broker was super chill about this which was a major green flag! My biggest thing is considering whether I want to make the switch to residential or not. \n\nI also have an offer from Berkshire Hathaway. Are you familiar with them at all?", "replies": [{"id": "ir6f7hg", "text": "I'm not familiar with Berkshires structure/culture.  I joined a small team at KW when I switched over knowing I was going to still go after smaller commercial deals but also wanted to learn the Resi side as well (1-4 units).  I found the right team and we've grown from 4 to now 45 agents.  Where ever you go try to find a team that has the right culture.  The broker for the KW office won't be involved in your business on the day to day, but your team lead will.  What state are you working in?", "replies": [{"id": "ir8ix1a", "text": "Woah, never saw a team that big at Marcus! They also told me I could do commercial and that they have leads for me. Thing is, this team has close to no market share in my city but they do in the city 1 hour south of me.\n\nI\u2019m in Arizona. Hbu?", "replies": [{"id": "ira1uvc", "text": "Don't worry about them having leads for you.  Learn how to generate business that will make you valuable anywhere. Better question...What resources does the team provide a solo agent?   Find a market you want to work in pull the local property records so you have addresses and names of owners.  Get yourself a whitepages subscription or find someone on Fiverr who can database that (by database I mean find numbers for them).  And make it a goal to call 25 people a day in that market, colding calling with value based pitches...Go on as many meetings as you can get and collect emails.  Do that everyday for 1-2 years, while also following up properly and you'll make life changing money. I'm in Jersey btw. I worked for M&amp;M in Brooklyn.", "replies": [{"id": "irdcy72", "text": "Not OP but is 25 cold calls a day truly enough? I\u2019ve seen guys smash out 50+ a day for years and still aren\u2019t really cashing out. By \u201cgo on as many meetings as you can\u201d do you mean 1 on 1 meetings with owners? Is collecting emails just for marketing email blasts? What exactly is following up \u201cproperly\u201d?", "replies": [{"id": "irdyj1j", "text": "Would love to hear how people follow up with people who don\u2019t seem that interested.\n\nI\u2019ve heard 100 valuable calls a day are what you should aim for", "replies": [], "depth": 7}, {"id": "is0faqe", "text": "So when I say meetings I mean meet with 3-5 owners who own property each week. And if your meeting with buyers I count the first time I ever show them a property as that meeting. Your right just calling everyday won\u2019t mean success but the first couple years you have to go meet people so they think do you when they have a need. Additionally this business is ALLL ABOUT THE FOLLOW UP. If you meet an owner I\u2019m generally sending them 3-4 emails a year a long with 3-4 mailers a year and then just calling them in between to see if they received those. Those emails and mailers are always about new developments near them, new venues or new projects the cities are undertaking that will effect them. On top of any business I\u2019m doing as well. When people think of a brokerage as a true advisor you have to bring people value where they are. So if they aren\u2019t selling keep them up to date with the things happening in their market that is truly effecting them.", "replies": [], "depth": 7}], "depth": 6}], "depth": 5}], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "ira6krp", "text": "I was at CBRE for 12 years. Was number 2 on a very successful retail team. We had 5 partners and 2 admins. Left CBRE because of the QREA (1099) migration. I am a partner at a major boutique retail firm now. CBRE is great at training. They offer a lot of resources for a young broker and ability to move to different markets. I highly value my time at CBRE but in you are just a number at CBRE unless you get to Vice Chairman level.", "replies": [], "depth": 1}, {"id": "is2ip9s", "text": "I work for CBRE in the Nordics as a broker, so many perks of being a part of the biggest consultancy firm in the world", "replies": [], "depth": 1}]