Interview with Newmark Knight Frank this week for an ​entry-level broke position​ ​​​
What kind of questions should I be expecting? It's just a phone interview but I would like to be as prepared as possible. Anything helps, thanks in advance!
[{"id": "ehup2wz", "text": "Where did you go to school, what social groups are you a part of ect. Do you know Word and Excel ect.  \n\nEntry level broker position is sales, you will be calling people updating a database most likely. \n\nAre you in the process of getting your brokers liscense or do you already have it? \n\nNKF has been buying up all the heavy hitters in all the markets, figure out where the team you are interviewing with came from, and what types of clients they work with. \n\nHaving a base understanding of their business and clients will go a long way. \n\nFigure out if you are strictly commission base, or if there is a draw or other sources of income. If it is strictly commission based, figure out if you can move back in with your parents for a couple years.  ", "replies": [{"id": "ehus8qc", "text": "To add to the last paragraph, a lot of brokers with big companies will be wishy washy if you ask them if they are willing to offer a draw. If that\u2019s something you want, gauge there response but be clear you expect that for the first few months to get you started. Everything is negotiable, especially if you can demonstrate you have the skills they want.\n\nEdit: Happened to me. Cushman was wishy washy, I came back and in 2nd interview said I expected it. They gave me $2,000/month for 6 months", "replies": [{"id": "ehusrlz", "text": "Yeah I would be moving to a completely new city. So I really wouldn\u2019t be able to live with parents. Do you think they would do base salary until I can get my feet underneath me? How are things going for you now?", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "ehuxry5", "text": "It\u2019s possible. Just make sure you clarify draw vs salary to start out. I would expect a draw vs a salary. Are you joining/working with a team ?\n\nEdit: how are things for you now? \n\nGetting started is stressful. One thing the big companies didn\u2019t do for me was provide sales training. I lacked that at Cushman and suffered, jumped to another group that helped with sales training and greatly improved. 5 years later and I now have a 6 figure income. \n\nMy point: Depending on your responsibilities (ie analyst vs salesman) I would ask what sales training they recommend or if they would provide some. And if they recommend outside groups see if they would be willing to cover training vs giving you a salary. Just food for thought. Everyone\u2019s path is a little different", "replies": [{"id": "ehuy2q6", "text": "Not quite sure. I was connected through a buddy who\u2019s uncle is pretty high up in one of the offices. Don\u2019t know too much else besides the fact that they\u2019re calling me Thursday ", "replies": [], "depth": 2}, {"id": "ehv16u6", "text": "Interested in what kind of sales training you feel helped you most and what you recommend people should look for. Many companies claim to provide training but the \u201ccome talk to me if you run into any issues\u201d is not training. I\u2019m in that position now and am looking for outside resources for training. Any advice will help!", "replies": [{"id": "ehxfzyr", "text": "I personally used Mike Ferry Real Estate Training. He is very well known and well regarded. His clients are largely residential but his sales training is easily applicable to commercial RE. He has many commercial clients. Look thru his YouTube videos and you can \u201ctry him before you buy him\u201d\n\nThere\u2019s also Massimo Group and Top Dogs Real Estate Training. \n\nRead all the books by Gary Keller you can get your hands on\u2014The Millionaire RE Agent and The One Thing", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "ehv2a1r", "text": "Word to the wise, a draw/ base salary is a rarity for entry level positions.\n\nThis job has a 90% wash out rate in the first year or two. Most people fail. Your success is also heavily dependent on local market knowledge and connections. \n\nThe fact that you're a rookie moving to a brand new city, where you likely don't know many people or much about the local commercial property market, makes you a high candidate for failure. Because of this, they will be unlikely to give you a draw, as there is a high chance it will be wasted money to them.\n\nIm not saying this to be a dick, I'm just helping you go into this with your eyes open. The two types of people who mainly succeed in this role are A) People who are able to live with family for the first 12-18 months, or B) People with a ton of relevant local connections from previous careers, and enough savings to last at least 6-8 months plus without a paycheck.\n\nCan it be done. Absolutely. I'd just be cautious about moving to a brand new city (expensive in itself) for a job you likely won't see any money from for a while. Commercial deals can take some time. Even if you had a deal day 1, it could take at least 3-4 months to actually see a paycheck from it. I saw zero cash for about 8 months when I started.\n\nUnless you have a ton of savjngs, maybe see if they have a salaried research analyst position available to start until you learn the ropes and the local area a bit more. Again, I'm wishing you success, just don't want you getting yourself into financial trouble, so you need to know what you're in for. ", "replies": [{"id": "ehv463w", "text": "I really apprciate your message. I will 100% take this into consideration when talking to them this week. Everything you said has made a ton of sense. I'm from the east coast but really don't feel like going back once I graduate so thats why im trying to find somehwere else to move to. Thank you for the messgae my man!", "replies": [{"id": "ehv55h5", "text": "Hey, sounds like your chances are better than none. Leverage those connections!", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "ehzjfok", "text": "I\u2019m an employer and one thing that really bothers me is when someone asks for a draw.  You didn\u2019t ask your university for a draw when you were accepted.  You happily handed them $50,000-$100,000 and in return they gave you a piece of paper (unless you went to an elite school).  Brokerage can be a life altering career that will put you in the top 5% income bracket or more.  Yet learning this isn\u2019t enough?\n\nIf you can make it past the three year mark you should have a fairly successful career.  How far you take it is up to you. ", "replies": [], "depth": 1}]