College student looking to get into CRE
I am currently studying accounting in college, and while I have a very good understanding of the concepts, I just can't see myself doing this for the rest of my life. I definitely like business, but I prefer to look towards the future instead of looking at the past (which is essentially accounting in a nutshell). I am really interested in CRE. Besides knowing someone, what are some other things I need to do right now so that I can work my way into this space? What are some internships or entry level jobs that I should be looking towards? I have a couple connections in the industry, and I want to make sure I know what I'm talking about. Thanks in advance!
[{"id": "ffgq8qm", "text": "Check on google \"commercial real estate summer internship 2020\"  and whatever city you live in.\n\nIf you are from a big city there will definitely be places like CBRE or JLL that are offering internships over the summer. You should be able to find those opportunities on Linkedin as well.", "replies": [{"id": "ffgrhoe", "text": "I\u2019ve been looking into internships. I\u2019ve seen names like JLL and CBRE pop up pretty frequently. I will definitely apply, but what should I do to stand out among other applicants? CRE is a fairly competitive industry, and I don\u2019t go to a big name school, if that even matters. Any advice on how I can score one of these internships would be greatly appreciated. Thanks for the advice!", "replies": [{"id": "ffhcrp3", "text": "I just saw this, I am out right now but I will PM you later.", "replies": [{"id": "ffhdu8i", "text": "Thanks.", "replies": [], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "ffhrujb", "text": "The more you can figure out on your own from research the better as you gotta really learn the market (in this case learn the companies) to lock in deals.\n\nIf you can\u2019t figure out how to make yourself seen by future employers, how will you make yourself seen by future buyers / sellers?", "replies": [{"id": "ffi95qa", "text": "So should I reach out to people at the companies and tell them that I\u2019m interested? I feel like simply applying and hoping for an interview is a bad strategy. When you\u2019re an agent, you have various marketing strategies like social media, cold calling, etc. I am a college student with nothing. I have no experience whatsoever (besides an internship in an unrelated field) and I have no standing in the CRE industry. So I don\u2019t know what exactly I should do to \u201cmake myself known\u201d to these companies.", "replies": [{"id": "ffihwrc", "text": "Start learning about this stuff from YouTube and on here. Teach yourself as much as you can. \n\n*talk to those connections you have* - they should be very helpful\n\nYou need to figure out ways on your own because when doing CRE no one really holds your hand. Start doing intro interviews at CRE places. Find any job at the company that gets you in the door.", "replies": [{"id": "ffijefw", "text": "Thanks a lot for the advice. I will definitely reach out to the agent I know. I sent him a message on LinkedIn and he offered to meet up with me to discuss CRE further, so I\u2019m very happy about that. And you\u2019re right that I need to take matters into my own hands. I absolutely will. I just have one more question for you. Does school name actually matter or is that just a myth? I don\u2019t go to a target school, or a big school. I certainly won\u2019t use that as an excuse, I\u2019m just wondering.", "replies": [{"id": "ffijnsh", "text": "Not sure what you mean about schools. Schools are great for networking and having contacts. If you in school, find clubs or anything related or connected to RE in general - Name doesn\u2019t matter too much.\n\nIf you have a contact who\u2019s willing to help, find anyway to help him. Even basic stuff for him 1 day a week as internship is something!", "replies": [{"id": "ffikb1f", "text": "Yeah honestly I\u2019ll work for free just to get experience. But more specifically I was asking about whether or not the \u201cprestige\u201d of the school matters. I\u2019ve heard people say that if you don\u2019t go to a big, well-known university, you don\u2019t stand a chance in CRE", "replies": [{"id": "ffikjtg", "text": "It can but I wouldn\u2019t worry about that - I\u2019d worry about doing well and tackling getting into CRE and gaining knowledge / skills.", "replies": [{"id": "ffikple", "text": "Will do. Thanks for the great convo.", "replies": [{"id": "ffiktpz", "text": "Course - best of luck", "replies": [], "depth": 9}], "depth": 8}], "depth": 7}, {"id": "ffpji6s", "text": "School name gets your foot in the door; however, once your foot is in the door (ie your first internship) it is secondary to who you work for. You may get a less than appealing job as a PM Intern or working alongside someone flipping properties, but you've then got your foot in the door, which is the hardest part. \n\n&amp;#x200B;\n\nI go to a Big Ten school, and though its no HYP, I've gotten offers for very recognizable entities because I had stories and experience to tell from my first internship.", "replies": [], "depth": 7}], "depth": 6}], "depth": 5}], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "ffikfc0", "text": "Start with a couple more established people and then some younger people, offer to take them to grab coffee. Find them by looking around on LinkedIn, talking to people you already know in the industry, family friends, whatever. After each meeting, casually ask for 2-3 other people they think it would be worthwhile to talk to. That way your network grows geometrically.       \n\nCommercial real estate has a very informal recruiting process compared to other industries, and it\u2019s heavily dependent on your relationships and willingness to meet as many people as possible.", "replies": [{"id": "ffiknuu", "text": "Thanks for the reply. This is great advice. I reached out to a pretty big player in my local market via LinkedIn and he offered to meet up with me. I get the impression that commercial real estate is a very competitive industry, but not particularly difficult to get into if you know people. It\u2019s just difficult to succeed. Does that sound about right?", "replies": [{"id": "ffj27gq", "text": "It depends on the market to a certain extent, but here in the southeast it\u2019s a very relationship based business. Your reputation is everything, and trying to be the smartest person in the room rarely works in your favor.    \n\nI work more on the investment/development side and used to work in investment banking, the cultural differences between CRE and traditional finance are night and day. You can make similar money with way more autonomy and a much better work life balance. It\u2019s also a great business if you want to have an entrepreneurial role/mindset.     \n\nFeel free to DM me, happy to give you more specific advice.", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "ffiu25n", "text": "You should consider an internship at CoStar Group, the largest CRE data and information company. I can point you in the right direction if interested.", "replies": [{"id": "ffix3gi", "text": "Hi thanks for replying. Definitely interested.", "replies": [], "depth": 2}], "depth": 1}, {"id": "ffj396o", "text": "Which city are in? I would attend some NAIOP, ULI and Bisnow events to meet people in CRE. NAIOP is good about supporting students. I could help you get into Bisnow and CoStar events.", "replies": [{"id": "ffj3gzc", "text": "Greater philly area", "replies": [], "depth": 2}], "depth": 1}, {"id": "ffpj3d9", "text": "Fellow undergrad and a Real Estate/Finance major. We have a Real Estate Club where fellow alumni come in and talk about what they do, how they got there, advice for students, etc.. I walked into a meeting with a friend without any interest in the industry and left basically knowing RE was my thing. The first thing I would do is get in contact with fellow students who are RE or Finance majors. The best way to do this is through LinkedIn messaging, or simply going to a club meeting if offered. \n\nAlso, ask an advisor what you should do. Most likely they have some sort of path for those interested in the field, or better yet, they have connections to someone they know in the field. If you have any relatives friends, friends parents, etc. in RE, ask them for coffee. I did this with one of my parent's landlords for our business and your tree of connections will grow exponentially from there. \n\nPM me if you have any additional questions!", "replies": [{"id": "ffpk037", "text": "Hey thanks for the advice. I don\u2019t have much going on at my school in terms of resources (small business school) but I have a couple connections that I want to meet up with. Dumb question but should I offer to pay for their coffee? I\u2019m scheduling meetings in the next couple weeks and want to make a solid impression.", "replies": [{"id": "ffpry63", "text": "When I did coffee chats I would always be ready to pay but never did. Meaning I'd pull the wallet out say I got this and 9/10 they wouldn't let me. To them, your using them as a resource and I feel that's pretty humbling, plus they know you're a college student and they have a salary. Come prepared to pay but I doubt you'll have to. \n\nAlso if they do offer obviosuly don't go all out triple venti latte BS haha", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "fge4ouk", "text": "Feel free to pm me man. Graduating in a few months and will he going directly into investment sales broker, all commission no salary. Can probably answer any questions you might have", "replies": [{"id": "fge4qax", "text": "I\u2019m gonna hit you up later, I\u2019m trying to get into commercial real estate brokerage", "replies": [{"id": "fge8smy", "text": "Investment sales is a division of CRE brokerage. I would sell retail investments, so think fast food, shopping centers, 7-Elevens, gyms, etc.\n\nThere are many facets to \u201cCRE brokerage\u201d\u2014 do you want to lease? If so, tenant rep or landlord rep? What product type do you want to do? Industrial, retail, STNL, multi-tenant NNN, office, land, multi family? Do you want to do owner/user stuff or investment sales? \n\n\nI\u2019m not asking you to answer these questions, but for them to serve as a platform for you to begin to find what product type you like, and what facet of brokerage interests you/have matching skill sets for. \n\nPM me anytime &amp; I\u2019ll give you my email so we can chat", "replies": [{"id": "fge9taq", "text": "I\u2019m not sure which area of CRE yet because I still need to learn more about the industry. I\u2019ll PM you.", "replies": [], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}]