Could use some seasoned veteran advice - crossing over from corporate (retail) real estate?
I know this subreddit gets a lot of "what is corporate real estate like"? threads, but I promise this one is different. I am wondering how someone can switch from corporate (tenant-side) real estate *back* to brokerage!

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I am currently a year out of college and a researcher for a large brokerage firm in a small, boring market. My position involves tracking office properties and creating quarterly office market reports, but also supporting various brokerage teams for different client pursuits. In 10 years from now I see myself as a successful broker in  a **different** market (either sales or leasing, have not yet decided). I've only been in my current role for a year, but my learning curve has flatlined.

The reason for my post is that I am considering a position with a retail company that is expanding across the U.S., and they need someone to manage their site selection and acquisitions as they expand. They called me out of the blue because I have experience in this type of role (via an internship for a similar company during my college years), and my intern supervisor recommended me. There are two main reasons I am seriously considering this position:

* 1) It would be in a bigger city that I grew up in, and want to move back to.

* 2) The compensation and benefits are extremely persuasive, especially for my age


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My question is, by working for *one* retailer, would I be limiting myself from building the relationships I should be building and learning the macro scope of the industry? Right now I am making crap pay, but learning a lot about different brokerage lines and befriending a lot of brokers (though this does not matter so much since I want to move to my home market). 

**Has anyone worked in corporate, tenant-side real estate and switched over to brokerage? If so, how did you make the relationships with brokers to join a team or firm?**

**Besides becoming significantly familiar with the real estate market that I would be working in, what other benefits could a site selection position offer that would be well-received at a brokerage firm?**


I don't want to take a wrong career path due to making a lot more money, but I see this as a potential gateway to the market I want to move to.


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**TL;DR: Young CRE newbie here. Currently research analyst for large firm. See myself as broker in 10 years in different city. Considering position for an expanding retail company in site-selection/acquisition. Though the position is good pay and in the city I want to move to, is this a bad move (since I wont be building relationships/learning the brokerage side of the business)?** 
[{"id": "cu72u0h", "text": "I've not worked a retail job like that, but as someone in CRE brokerage my general thought is it would be a smart thing to do.    Those jobs usually require a lot of travel.  You should get to see a lot of different markets, and make a lot of different broker &amp; landlord contacts.  \n\nI'd think that would prepare you well to come to a retail broker or even dabble in some of the national NNN brokerage type stuff.  If I am a retail business hiring a national or regional broker I think I want the guy who can tell me he has done my job successfully before going into brokerage and he understands exactly how our site selection operations work (or should work) and what we are expecting vs some some schmuck who is going to say \"well we rep these companies in our city, we can find retail space etc\".  \n\nAlso if you see yourself in a different city, man I'd think about just doing it.  Outside of some guys doing really big things across markets or national type rep moving between markets seems like a major career set back.  Do it now while you are still building your business, not when you already have and wind up starting over.  Half of this shit is who you know, and the guys you know in San Diego can't help you in Orlando usually.", "replies": [{"id": "cu73kls", "text": "Thanks for the advice, I do have a question for you:\n\n&gt; If I am a retail business hiring a national or regional broker I think I want the guy who can tell me he has done my job successfully before going into brokerage and he understands exactly how our site selection operations work (or should work) and what we are expecting vs some some schmuck who is going to say \"well we rep these companies in our city, we can find retail space etc\"\n\nDon't you think it might be a little problematic that I am only doing site selection for one, prototype retailer? For example, wouldn't someone who has retail experience repping a small strip coffee shop, a car dealership, freestanding restaurants, AND different big boxes be more valuable than someone who just worked at one grocery store chain doing site selection? \n", "replies": [], "depth": 2}], "depth": 1}, {"id": "cu75c95", "text": "&gt; manage their site selection and acquisitions as they expand.\n\ncan you expand on this a little more?Does it involve working on lease negotiations, compliance etc? \n\nAnd btw how much do u make as an research analyst for the large brokerage? I am almost in the same boat as you, love real estate, a few months removed from graduating college, and currently working in residential real estate, but down the line looking to cross over the commercial side, but want to be more in the non brokerage side of things. So something like CRE finance. So If I start with the research analyst gig, and I have no interest in moving over to the brokerage side of things, do u happen to know what choices do i have when it comes to my career path?", "replies": [{"id": "cu78egu", "text": "&gt; can you expand on this a little more?Does it involve working on lease negotiations, compliance etc?\n\nThis would involve everything from start to finish. finding a site, negotiating a purchase, conducting due diligence on the property and securing the proper permitting and licenses to build a site, then closing.\n\n\nThe large firms pay anywhere from 38k-45k for their researchers. Depending on the firm, you may be able to get bonuses as well. I do not get any bonuses on deals because my MD does not want me to favor certain brokerage teams (who are generous with commission splits) and ignore others. Its a great role to learn, just doesnt pay well. I dont plan to stay in it much longer, which is why I am entertaining opportunities that come about.\n\nApparently the way it use to be is that researchers would work a year or two, then get picked up by a growing team and become a broker. The large firms (CBRE, JLL, Colliers) are turning away from this because of the high research turnover. Their problem is that if they want a researcher for long turn, they definitely have to up their salaries (which some are starting to do). Might be a good time to take advantage of that trend, but be prepared to be expected to stay in that role for at least 5 years.", "replies": [{"id": "cu7hakk", "text": "Hey! Thanks for the detailed reply. That sounds fun. So, you could be working for any company that basically has a strong retail presence, like from Walmart to Apple? I would imagine that any company big or small that relies on having physical locations would need helps iwith acquitsitions, due diligence, negotiations etc. do u need a CRE license for this gig. What titles should I look for when I look for these positions? Corporate real estate management or something like that. I just want to see some sample job descriptions, even though I might be a few years away from being qualified for that kinda job. \n\nAnd 38-45 is decent starting salary. I could do that. And is there a reason why you think down the line you might enter brokerage and not be in this corporate gig and move up the ladder there? More pay in brokerage or is it more interesting work?", "replies": [{"id": "cu7pa1l", "text": "&gt; And is there a reason why you think down the line you might enter brokerage and not be in this corporate gig and move up the ladder there? More pay in brokerage or is it more interesting work?\n\nBrokers can chime in on this, but yes your earning potential is much higher and it can be relatively more interesting work since you are working with different companies locating spaces, rather than just one. I interned for a retailer before in tehir real estate department, i still keep in touch with my boss there and he said they had to lay off or transfer his real estate reps because they basically did their job. They found sites for the company, and there was nothing more to do. do job security can be an issue, but thats with any job i guess.", "replies": [], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "cu7xwfe", "text": "Personally, I'd pick one or the other and stick with it. Brokerage is difficult and risky to get started in. Get the tough years under your belt while you're still young. \n\nWhat makes you want to do brokerage? From the outside looking in, I've always gotten the impression that acquisition guys have it pretty easy. ", "replies": [{"id": "cu86enm", "text": "&gt; What makes you want to do brokerage? From the outside looking in, I've always gotten the impression that acquisition guys have it pretty easy.\n\nAcquisition guys are always scared for their jobs from what I gathered. As I mentioned, I interned for a retail company in their RE department, most of those guys were either laid off or transferred elsewhere once they acquired enough sites in the market. Same case for a big box retail client my current office services. A lot of their RE team is getting canned, and they are pissed at us (since a lot of the RE work was outsourced to us).\n\nFurthermore, I work with various teams throughout the office and they are making way more money than your standard acquisition guy makes. A lot of them own smaller investment properties themselves, something your standard salaried acquisition guy would have trouble doing.\n\n&gt; Brokerage is difficult and risky to get started in. Get the tough years under your belt while you're still young.\n\nMy trouble is that A) I am trying to switch markets which as you know is hard to do in this industry. and B) I am very young (23 years old) with student loans, etc. It would be very hard for me to get started as a lone wolf broker. I see this retail acquisition role as an opportunity to 1) switch markets and 2) acquire more experience and knowledge. I just dont know if #2 will provide me the *right* knowledge that would help me slide into brokerage 4-5 years from now.", "replies": [{"id": "cu87z7f", "text": "Hey, I work in commercial real estate doing acquisitions for a boutique hotel company in NY. I got my B.S in real estate and am now getting my M.S in real estate finance. However, i'm not basing my advice from my experience but rather my girlfriend who's working as a retail research analyst in NY for CBRE. People in her group are generally a research analyst for a year and then become an associate under a senior broker. She's told me they look for people with relative real estate experience, are personable, and very analytical. The big city markets require a ton of market expertise which is why a lot of people in her group start as a research analyst and then become a broker. My girlfriend seems to say that those who just jump into brokerage tend to struggle because you can't build any business without being an expert on the market.\n\nIt sounds like this is a great opportunity for you and a means to get into the city you want to be in while being able to experience a different side of the market at a young age. Despite the company expanding across the US, I'm sure you'll still get good exposure to the city you'll be working in. Also, at the end of the day, you could work at this place for a year or two, learn the market(s) better, network your ass off at CRE brokerage firms in the area and then switch. You're still young so take every opportunity you can if it brings you one step closer to your ultimate goal. \n\nI'm only 22 so unfortunately I don't have ten years of experience to share with you but hopefully this helps you a little bit!", "replies": [{"id": "cu88xf9", "text": "Thanks for the input. So you do acquisitions for this hotel company, how involved are you with the process? Do you only handle site selection, or do you negotiate contract terms as well?\nDo you like the acquisition side of the business, being limited to one company (in your case, the hotel)? One last question: working in acquisitions for this company, are you exposed to a lot of networking opportunities? Besides property owners, who else do you work with?\n\nLike your girlfriend, I am also a researcher for CBRE. However, as you mentioned -I am sure the bigger markets are different in how the career steps are structured.", "replies": [], "depth": 4}, {"id": "cu9lae3", "text": "Crazy how there are so many differences between markets. What OP said about researchers is absolutely correct for big shops in the GLA market. Researchers rarely get picked up on a brokerage team, they typically have to apply to another office if they want to get into brokerage. Researchers are seen as long term employees now. ", "replies": [{"id": "cuads0x", "text": "&gt;  Researchers are seen as long term employees now.\n\nIf I am in research what are the long terms prospects? whats the career path generally for researchers if they are not interested in brokerage?", "replies": [], "depth": 5}], "depth": 4}], "depth": 3}, {"id": "cu8bpy5", "text": "Good to know those details about acquisitions. I've noticed, especially in the non-profit sector, that regional CFOs, Controllers, or Facility Managers tend to take on most of the acquisitions. I don't have much experience in corporate retail so I'm sure that's a different story.\n\nIt's tough and scary getting started. I lived off my credit cards for a year and crashed at my Grandma's house, not exactly the highlight of my life but it was only for a year. \n\nFor what it's worth, 4-5 years seems like a long time before starting brokerage. If you work hard, you'd really only need to save a years worth of living expenses. Depending on your financial situation, that seems do-able after 2 years max, unless you are moving to a high COL area. I started brokerage at 27 and am kicking myself for not starting sooner. I also started in a market where I didn't know anyone so I wouldn't worry too much about switching markets. It sucks to leave those connections behind but it's fairly easy to build back up in a new market if you network and prospect efficiently. \n\nPersonally, I believe the retail acquisitions job will provide you with some great knowledge on brokerage. You can always start taking some intro CCIM classes or Top Dog classes to prepare you a bit for when you do enter brokerage. ", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "cuofli1", "text": "This is anecdotal for sure, but several of the most successful brokers in my market (second tier midwest) had a tenant-side position like you describe, and transitioned to a brokerage or retail developer later in their career. ", "replies": [], "depth": 1}]