How to get started in CRE?
Hi everyone,

I’m sure hundreds of variations of this question have been posted over the years, but I was hoping some of the more experienced members here might be able to provide some quick basic guidance. I’m a finance major graduating in a few months, and am a little overwhelmed by all the different routes/opportunities available. Ideally, I’d like to at some point be involved in the development/construction of commercial spaces, but am willing to get the prerequisite experience in any way possible. I was hoping somebody here might be able to draw out what a typical real estate career path might look like, as I am overwhelmed by just the sheer amount of different entry level job titles/roles available. Thank you in advance to anybody that can help!
[{"id": "filjilz", "text": "There's a lot of different paths you can take. In my opinion, the best positions to start out in if not development/repe, would be investment sales or lending. Valuation would be a good start as well. Look for analyst roles for those type of positions or try and get straight into development, but will be tough unless you have internship experience or connections.", "replies": [], "depth": 1}, {"id": "filmiyw", "text": "Just keep looking at job sites for analyst positions with developers, or even analyst positions at other CRE firms and then transition over.", "replies": [], "depth": 1}, {"id": "filrnzm", "text": "There's not really a \"typical\" path. However, an internship in a city would be a great way to get a feel first hand about what the career/industry is like. Personally, as a CRE agent I wouldn't go for the analyst route, it can be a great way to learn but something hands-on like brokerage or working for a developer will teach you a little about sooo many different things rather than a lot about just a few things.", "replies": [{"id": "filx39e", "text": "I potentially have a connection with a residential builder/developer that builds luxury homes in a few wealthy pockets in the northeast. I know it\u2019s not CRE, but would running coffee for a guy like that (in either residential or CRE) provide better experience/connections than working as an analyst at a larger company in your opinion? I would be fully willing to spend time as an analyst if that was the best way to advance my career, but I would not be interested in a position like that long-term.", "replies": [{"id": "filxqne", "text": "Definitely a good idea to use all the connections you have in the industry. That's how I got my foot in the door where I'm at.  I can't make any decisions about your situation, especially with such few details. but I'd urge you to decide where you'd love to be in 1-3 yrs and then do everything you can to learn from and work for those people who will teach you about X things. \"stepping stone\" positions can be good but try to be as direct as you can and streamline the whole process.", "replies": [], "depth": 3}, {"id": "filxyrn", "text": "You\u2019d have to talk to him but I was in a similar position. Even the developers I knew well wouldn\u2019t take me on, I talked to a handful and they all said investment sales was the way to go for connections and to learn starting out. Not retail leasing, investment sales. They said I\u2019d meet a lot more people rather than looking for land or doing other menial tasks for them. Doing sales for 2-3 years, going to networking events, stay in touch with them, send them deals. Then when you have experience ask for help/advice to jump. I can\u2019t tell you how much I learned in the first year of sales (just finished), you really don\u2019t know what you don\u2019t know.", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "fim5i4y", "text": "CMMI credential", "replies": [{"id": "fim8x0x", "text": "I\u2019ve seen CMMI mentioned in a few places, but am I wrong in understanding that it isn\u2019t anything I would be looking at until I had more actual experience under my belt? I got my ARGUS certification, and figured that was really the only big real estate credential I could get at this point. Thanks", "replies": [{"id": "fimfkr5", "text": "You need a realtor license or broker license as well. If serious many have a mba degree also. Needing Costar subscription, expensive so need to share with someone. As for business opportunities site Costar owns Loopnet and perhaps anther 1 dz sites. Costar is a public company.", "replies": [], "depth": 3}, {"id": "fin58f5", "text": "How\u2019d you get your ARGUS certification? Did you pay the $1200?", "replies": [{"id": "finbldh", "text": "My school offered the training at a pretty steep discount (around 200 if I recall correctly)", "replies": [], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "fins9u7", "text": "I used an excel spreadsheet produced by these guys to analyze investment deals. They have created an entire minefield of career advancement options for new and experienced people working in CRE.\n\nYou may find answers to some or most of your questions here... https://www.adventuresincre.com/academy/", "replies": [], "depth": 1}, {"id": "fj84av9", "text": "Companies like Marcus &amp; Millichap or Matthews Real Estate have great training for people new to the biz. If you want to learn the CRE Investment sales side, either of those will be a great starting point. You may even love it and want to stay there.", "replies": [], "depth": 1}, {"id": "fjxomrv", "text": "This was my experience getting started in commercial real estate and also how I got offers to work as a commercial real estate developer intern. I was a sophomore looking for summer internships on my university\u2019s internship job board and I saw one for a commercial brokers intern, not far from campus, a small brokerage by most standards but was a seriously player at least in the local market. Just by checking out their website I knew right away that this brokerage was a little old school. Interview was a great. real estate is about relationships so be personable and be yourself. That summer I started learning the in\u2019s and out\u2019s of commercial real estate. After almost a year I sent an application to a national commercial developer and we had a couple rounds of interviews but I got cold feet working for a big company and would rather work at a smaller office. Especially if the developer has worked with your broker and likes them that\u2019ll make your resume stand. So if I had to give out a practical guide to get started \n\n1. Gain some level of secondary education (you can be in college but this will be harder)\n\n2. Find local commercial brokerage firms looking  a bit dated (either their website or office can be a good indication) \n\n3. Send them an email briefly describing you and your passion for commercial real estate and for a possibility of an internship \n\n4. Repeat. Real estate is a numbers games so don\u2019t worry if you have to try more than once. Checking your local MLS or realtors page can also show you if internship programs exist to help  you find a broker. \n\n\nI hope this helps!", "replies": [], "depth": 1}, {"id": "fsk7reb", "text": "I think the best experience towards building a career in CRE is deal experience. Start wherever you're going to get to see/evaluate the most deals. That's typically banking or brokerage. Once you have the deal flow experience, you can pivot to other things. The problem with starting in development is you might work on two or three deals over a span of years. That's not great to start a career.", "replies": [], "depth": 1}, {"id": "j1z2jx8", "text": "If you're getting started in commercial real estate, there are a few key steps you can take:\n\n* First, it's important to understand the different types of [commercial real estate](https://www.urecenter.com/resource/How-to-Get-into-Commercial-Real-Estate:-An-Ultimate-Guide-for-Investors-in-2022) and what they involve. This includes office buildings, retail spaces, industrial properties, and multifamily dwellings.\n* Next, you should try to gain as much knowledge as possible about the industry by reading [articles](https://www.urecenter.com/resources) and [books](https://www.urecenter.com/resource/Top-15-Real-Estate-Books-for-Investors-in-2022:-Gain-Power-and-Knowledge-in-the-Market), attending seminars and workshops, and [networking with professionals](https://www.urecenter.com/professionals) in the field.\n* Additionally, it may be helpful to get a job or internship in a related field, such as property management or real estate development, to get hands-on experience and build your skills.\n* Finally, consider obtaining a license or certification in commercial real estate, which can help you stand out in the competitive job market.\n\nYou can read more additional information on the [Urban Real Estate Center](https://www.urecenter.com/) website.", "replies": [], "depth": 1}]