Advice on breaking into CRE brokerage as a soon-to-be college grad?
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[{"id": "fdsdjxj", "text": " keep cold emailing/calling those brokerages in chicago buddy. If you get no traction from them, start applying to other jobs that you think will help you transition into brokerage in a year or so - costar research, property management, any other sales job, etc. If you can succeed at any of those three i just mentioned, and continue to network with brokerages along the way, you should have no problem breaking in. it aint glamorous to start out", "replies": [], "depth": 1}, {"id": "fdsdwvl", "text": "I was in the same place as you a year ago. I landed a job at a boutique brokerage (50-60 brokers) in NYC through connection of a connection. \n\nI reached out to at least 100 people in NYC, Chicago, Miami (cities I\u2019d be ok working in but NYC was #1). Id say #1 reach out to alumni, set up calls, get coffee.\n\n\nWhat area of the US do you live in? \n\nFind brokers there from your school (and eventually others who are not. I reached out to top brokers in DC area and some took my call and gave me advice) and see if they know anyone in Chicago. That\u2019s what I did, ppl from where I\u2019m from connected me to people in NYC.\n\nYou also should set aside some $ to travel there. I went to NYC 3x for a few days each and filled days with multiple interviews and coffees. I got interviews at CBRE (research sept then after a year or so you can join a brokerage team you\u2019ve been providing research to), M&amp;M (training for first 6 months it seems then hit the phones/can join a team), NKF, RKF and others.\n\nFigure out if you want to do sales or leasing (I\u2019m in IS). I also didn\u2019t have any family it in but got lucky bc the guy I met vouched for me at this place. They\u2019re not paying you so you\u2019ll likely get an offer somewhere although I didn\u2019t get offers at some of the places I mentioned so it isn\u2019t a guarentee.\n\nFeel free to ask me any questions you have.", "replies": [], "depth": 1}, {"id": "fdse2gy", "text": "Not glamerous but I started in our marketing department making flyers and Aerials. Things that would make you interesting are having your re license education done and taking your real estate exams. You can't officially get your license until you hang it with a broker but having the testing and education done is a big step that puts you ahead of other fresh applicants. The passing grade stands for like six months or so depending on your state laws so you have time to find the brojer. Try to get breakfast or lunch with brokers. Face to face is arguably the most important thing in brokerage, they'll be more likely to help you if they meet you in person. Only other thing I can think of is getting in the car and learning your market (shopping center names, major landlords in the area, major retailers in your market, etc). Also sign up for as many email newsletters as you can. Bizjournal, biznow, etc). \n\nAlso while you're still a student try to get into an icsc convention with a student badge and walk the brokerage booths. \n\nHope this helps!", "replies": [], "depth": 1}, {"id": "fdsgf29", "text": "can you elaborate on what qualifications firms usually look for? You wrote you already have a degree, what else are they interested in a candidate having?", "replies": [], "depth": 1}, {"id": "fdsl6u6", "text": "All the most successful brokers I know started at a CBRE, M &amp; M, or another big firm. Although they take large cuts, their training and corporate culture can give you the right attitude to go far.", "replies": [{"id": "fdsn0tw", "text": "The training is good but you need 6 months to 1/1.5 years to get started. \n\nAt Marcus I\u2019ve heard is 6 months training with you not making any calls.\n\nOr for example CB you may start out in research then switch.\n\nI\u2019d say if you really want to do brokerage it\u2019s good, but if you might want to switch a year up front may be a lot of time.", "replies": [], "depth": 2}, {"id": "fdspkmp", "text": "It depends on the niche as well. For example CBRE is probably the best place to work if you\u2019re doing office but for land I\u2019ve noticed a few local &amp; boutique firms that specialize specifically in land dominate the market.", "replies": [], "depth": 2}], "depth": 1}, {"id": "fdsuyea", "text": "Keep trying man.  Also, this probably isnt the answer you want, but those jobs are a lot harder to get at this point in the cycle.  When things crash you will be able to walk into any brokerage you want.  If you cant find a job now make sure you are positioned for that. (Ie save a lot of money, you will need it)", "replies": [], "depth": 1}, {"id": "fdttrqj", "text": "Honestly dude, don't do it. This profession is too stressful and hard unless your lucky enough to be on the very top", "replies": [], "depth": 1}, {"id": "fdtui25", "text": "Find an assistant type job. Some firms have transaction manager roles - where you\u2019re basically broker light - and you generally get paid a salary and a small cut of your deals. This gives you money to live on while still learning the business and building connections in the field. This also gives you a direct mentor to guide you through the whole thing. \n\nAlso check out ICSC and maybe see if there are any events coming soon in that market that you would be able to fly in and attend. You can search attendees and reach out and try to schedule meetings with those people during the convention.", "replies": [], "depth": 1}, {"id": "fdvzff5", "text": "I am a 20 year commercial broker at one of the big 3 shops. I always mke myself available to college students looking to break into the field. Send me a message if you'd like to learn more about starting in the business.", "replies": [], "depth": 1}, {"id": "fe6d92e", "text": "I started in the industry as a Research Analyst with a large CRE firm. In that role I was able to learn the market, the ins and outs of the commercial real estate world without any of the risk, and it was a great entry level pay. Also - typically in this role you will network with brokers gaining you the relationships that you would probably need to navigate Chicago.\n\nI myself am in this market and can say that this is one of the best routes to take. When I was in that role I ended up finding a different route and decided to do consulting instead, but highly recommend that as an opportunity if it's available. \n\nAlso most large firms hire for this role. It's not glamorous, but you'll get the experience and knowledge you need to be successful down the line.", "replies": [], "depth": 1}, {"id": "fec1vg4", "text": "Most young brokers I\u2019ve worked with started out as an analyst first. I work for Cushman &amp; Wakefield on a Capital Markets team (office/industrial). If you want to move into brokerage, you can work on getting your license while you\u2019re working as an analyst, and transition into the role of broker after the fact, while also taking advantage of your established team\u2019s contacts.", "replies": [], "depth": 1}]