Investment Sales Interview
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[{"id": "fvpt6bd", "text": "Associate or analyst position?\n\n\nAssuming associate as a salesperson, they likely won\u2019t get technical since you will go through a training or runnership hopefully. Focus on the product type you\u2019ll be selling and knowing the markets you want to sell in. \n\nI went through an interview for IS in Feb and they mostly asked if I had the means to become a successful advisor (that\u2019s essentially what you do- advise clients on investment acq. &amp; dispo). They asked why my interest was what it is, and some behavioral/personality. And I passed their personality test with flying colors. \n\n\nDon\u2019t study anything specific, pick up a book or two on the product type - pick through the quarterly reports that the company sends out in YOUR market and you\u2019ll be good.", "replies": [], "depth": 1}, {"id": "fvpv96m", "text": "Obligatory: I did investment sales for 6 months before realizing it wasn\u2019t for me. \n\nMy advice? Understand what you\u2019re getting into. You will be chained to your desk making cold calls every day: 50-60/day all to get 2-4 meetings per week, usually saying the same thing over and over again. Get used to rejection and some verbal abuse, especially when you call a couple billionaires without realizing who they are. Really, you want to hit on your soft skills: communication, rapport building, proactiveness, persistence, staying cool under pressure, etc. Have proof of some success in sales; hard numbers. Showcase your wins whether it\u2019s a lemonade stand, a summer job as a retail associate, or (in my case) doing door-to-door sales. Also, know some basic financials and terms. Get used to mixing it in your conversations. Practice in a mirror. Obviously research the company and history beforehand. \n\nWear a sharp suit and tie because that will be your uniform when you get the job. Follow up with a thank you email a couple hours after the interview. It\u2019s ok if you have no experience, the big shops generally provide training for new agents. \n\nIf they do a role play with you here are a few tips:\nStart with a greeting and who you are, who you\u2019re with (the company you\u2019re interviewing with), what you do (investment sales for [insert asset type]), and an *Interest Generator* (a quick statement that is impactful, grabs attention, and has a direct affect to the person\u2019s property you are calling on. \n\nEx.: \u201cHello Mr./Mrs. John/Jane Doe, my name is HoneycombJackass and I\u2019m with XYZ real estate company, and I do investment sales for [office]. The reason I\u2019m calling is because I came across some info the government released about real estate markets and Covid-19. I see you own a few office buildings downtown and I\u2019d like to meet with you for 20 minutes to show you how this new info can affect your properties and help you strategize to maximize the opportunities that will be coming. Can you meet Tuesday at 10 or Thursday at 2?\u201d\n\nFor the sake of the scenario, they will make it brutally hard on you, and that\u2019s ok. The point is to see how you handle it. There will be push back. \u201cJust email it to me\u201d they say. Your response? \u201cI can, and definitely will, but there is a lot of information to dig through, and I\u2019m not saying you won\u2019t understand it, but it\u2019ll be easier for you if we meet and I can give you the highlights so you are more prepared to strike when the time comes. It\u2019ll only take a few minutes and we can meet at your office if you\u2019d like. How does X time sound? (assume the sale)\u201d If continued pushback, implement the *Feel, Felt, Found* technique: empathize with them (feel), let them know they are not the only ones to feel this way (felt), then tell them what happened when others met with you (found). You won\u2019t win every call, but staying persistent and calling back every 2-3 weeks is what will get you more wins. If they say ok right away, close the call with a time to meet and get off the phone. Phone calls should only last max 5-7 minutes. If they ramble (especially if you fluff their ego) wait until the 15 minute mark and say you have another call coming in or meeting you have to get to. There\u2019s really no difference between shops. They all pay to use the same resources , so it really boils down to how likable you are.\n\nHope this helps! Sorry for the long post. Good luck!", "replies": [{"id": "fvqnk1l", "text": "Hey man.  If you still have those billionaires cell phone numbers let me know", "replies": [{"id": "fvr2mu2", "text": "Unfortunately, I don\u2019t. I remember I called the CEO of a development company who coincidentally used to be a broker. I got my ass chewed out for a solid 15 minutes. I was a 30 year old grown adult man and he made me want to cry it was so bad! You get to that level of wealth and it\u2019s as if you magically turn into an insufferable asshole. I kind of understand it though: people are always coming up to you like they want your money, and brokers are like leaches to them. I was still new to brokerage, and still getting used to cold calling. I have no problem talking to strangers face to face, but I\u2019m sure all the brokers in this sub will say \u201cduh, no shit\u201d.", "replies": [{"id": "fvr2qhk", "text": "Just don\u2019t waste people\u2019s time, you know?", "replies": [{"id": "fvr3743", "text": "Hahaha true, but in this case, I didn\u2019t even finish my intro before he tore me a new asshole.", "replies": [{"id": "fvr3lcl", "text": "and you continued to let him chew you out for 15 minutes?", "replies": [], "depth": 6}, {"id": "fvr3ojr", "text": "Ya some people are just like that I guess.  My clients were all Indian american starting out and not a lot of brokers were calling them so they were generally happy to shoot the shit about whatever.", "replies": [], "depth": 6}], "depth": 5}], "depth": 4}, {"id": "fwbn78h", "text": "Hey dude but no offense, I\u2019ve worked with them and they\u2019re literally no different than you or I. Take it the same way you\u2019d take any other person being a prick to you. Money doesn\u2019t mean shit. Doesn\u2019t mean they\u2019re smarter than you. Doesn\u2019t mean they\u2019re more successful. Doesn\u2019t mean they\u2019re harder working or more talented. There\u2019s literally no correlation to any of the above. So stop putting people with money on a pedestal. I used to give a fuck. Now I wear getting told to fuck off by wealthy people as a badge of honor. I even give it right back lol.", "replies": [], "depth": 4}], "depth": 3}], "depth": 2}, {"id": "fwbmn92", "text": "Asking for business is one of the most goddamn worthless pieces of advice I\u2019ve ever heard. Offer something to your prospect that they want. An LOI, a buyer, more rent... stop wasting people\u2019s time with \u201ccan I get a meeting.\u201d I don\u2019t have time for random chats throughout the day. Bring me something of value on the first call. If you don\u2019t know what that is, ask a 100 investors until you figure it out. Then pitch your (usually free) services in a follow up call until they start asking for more of you. You\u2019re not in a position of leverage to ask for anything unless someone is asking something of you.", "replies": [], "depth": 2}], "depth": 1}]