I have an upcoming interview to join an investment sales team as an analyst. No finance background, but I do have industry knowledge. Could use your help!
I have been offered an interview with a reputable firm that solely focuses on investment sales. The position is a Junior Analyst role, supporting brokers with financial pro-formas, analysis, market write-ups, OM's and other marketing materials.

I am only a couple years out of college (studied history and business), and have been working at a top 3 brokerage firm as a researcher.

My challenge is that I have no financial background, Argus, underwriting, or valuations experience. What I do have is market knowledge, and a solid understanding of the industry through my role as a researcher. I also understand the fundamental financial principles behind CRE valuations (Cap Rates, DSCR, LTV, etc.).

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How should I best approach this? I've talked to a lot of brokers who have basically all said "you can learn that stuff on the job, the math involved is on an 8th grade level". Though this might be true, I will most likely be competing with college graduates with Real Estate finance degrees from target schools, so that ain't gonna fly. Any input would be helpful - I really want to enter the capital markets side of the buz, and this seems like a great opportunity to do so!
[{"id": "d0tck34", "text": "Definitely make an effort to learn the basics of real estate finance before your interview but do not sweat it too much. I am currently an investment sales analyst and my day-to-day does not revolve around Argus like you might expect. \n\nDisplay some knowledge about the business and determination to learn during the interview and you'll put yourself in a good position.", "replies": [{"id": "d0tqt1t", "text": "Thanks a lot for the input..would you mind sharing a bit about your day-to-day, what your role is with the team (outside of Argus)?", "replies": [{"id": "d0udyh3", "text": "Beyond Argus, analysts typically do a lot of front end work on deliverables. When selling a property, it will typically be your responsibility to define the market the asset is a part of, research rents, vacancy rate, etc. for that market, and then package the information to send out to investors. This is a skill set that I am sure you have already acquired working in research. Once you have an asset packaged it will largely be out of your hands and into the broker's as they do the client-facing needed to sell the asset.\n\nI'd say doing the financials and packaging deals takes up about 65% of my time. The remaining 35% of the time is spent doing odd, one-off tasks. I'll get an instruction as vague as \"I want to know what land prices are like in X market\", which starts a frantic trip down the rabbit hole until I have enough info to present to the head broker. Tasks like this are constant and unpredictable, and I have had some of my most fun and rewarding work experiences completing them. \n", "replies": [{"id": "d0uo0mr", "text": "Awesome! A lot of what you have mentioned are things I already do as a research analyst (odd submarket write-ups, finding obscure comps, etc.).\nJust curious, what do you use to find the data for your packages (market vacancies, absorption, etc.)? Do you work for a firm that has a team of researchers, or do you use subscription databases like CoStar?", "replies": [{"id": "d0uocaz", "text": "Subscription services (Namely CoStar and RCA). We also make a lot of calls to leasing agents ourselves to get more updated info than an online database can provide. ", "replies": [], "depth": 5}], "depth": 4}], "depth": 3}], "depth": 2}, {"id": "d195tx4", "text": "hey there, how much do you think on average analysts start out getting paid in firms like CBRE, JLL,CWin a major city like DC, NY,LA. And I would like to be an analyst, not a broker, I've heard that a lot of analysts become brokers, so if I do not want to be a broker, what would be my career path in terms of moving up the ladder/pay etc? Thank you!\n\n", "replies": [{"id": "d19mjgh", "text": "I would consider $50K average. Some shops have their analysts put together their marketing materials using InDesign, in which case they pay these analysts more (in the realm of $80K). A good team will also offer you a small percentage of the team's total commission which can increase your total pay by tens of thousands of dollars depending on your cut and how productive your team is on any given year.\n\nIf you're on an investment sales team the ultimate position within the team is broker, however this is a very broad term. In my experience, teams typically have a broker who sources your teams business, a broker who is in charge of the operations side of what the team does, as well as a junior broker/lead associate who oversees the production of materials, underwriting, and DD. \n\nBeyond these roles, I have heard of people moving from Investment Sales to Acquisitions/Dispositions and Portfolio Management in firms that own / operate real estate. Investment sales is a great background to have for pretty much any job in Real Estate Finance. ", "replies": [{"id": "d19nqc1", "text": "Hey!\n\nI think my ultimate goal would want to be Acquisitions/Dispositions and Portfolio Management, asset management etc. Would there be a salary jump at these jobs in a repe firm compared to an analyst? Because, if there no salary jump, not sure if the jump would be worth it. \n\nGiven that goal, would starting off as an analyst be a good start?\n\nAnd this is my situation. I am 23 years old and working in residential real estate sales now.  Next year, I am planning to move to DC and want to do my masters in real estate finance at Gtown. \n\nProb want to start of as an analyst, get some experience then transition to Acquisitions/Dispositions or asset management for a private equity firm. Thats my plan. What do you think? ", "replies": [{"id": "d19oapl", "text": "The world is your oyster man. Breaking in is the hard part. \n\nIn my opinion, the best part about working in Investment Sales is the exposure you get to clients. A few years in the business will allow you to brush shoulders with the biggest real estate buyers/operators in the business. Firms will be much more likely to hire you if they are pleased with the work you have done on their behalf as an analyst on an investment sales.\n\nTo answer your questions, I personally know a hand full of people who have switched from sales to acquisitions/management and they all have all felt that their background in sales helped them greatly in their new career path.", "replies": [], "depth": 5}], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "d0tqgmg", "text": "Your history degree will provide you with a different skill set than those finance majors. As a history major myself, I have found my ability to construct detailed evidenced-based arguments to be very well received in the CRE world. \n\nWith regard to analysis, constructing well thought out narratives and presenting your deals in a clearly, well written and persuasive manner will go far. Your job in investment sales will be to sell the deal. Number crunching is only one (arguably the easier) of the elements to putting a deal together. \n\nThe math involved is pretty easy to pickup on the job, however the same cannot be said for writing. Don't try to compete with those others based on the numerical part of the analysis. Sell your writing acumen as a strength that is not easily obtained  or transferable. ", "replies": [{"id": "d0uo273", "text": "Thanks for the advice, I did not know writing abilities were that valuable in an analyst role.", "replies": [], "depth": 2}], "depth": 1}, {"id": "d0vo93d", "text": "getrefm.com", "replies": [], "depth": 1}, {"id": "d0wwmib", "text": "I'm a current Investment Sales Analyst at a C&amp;W/JLL/HFF/CBRE tier firm.  Learn Argus if you can swing the steep cost of training.  I was lucky enough to learn it in college and it definitely helped me get the job.\n\nMarket knowledge is key; one of the most successful analysts on my team transferred from our research department and CRUSHES it due to the amount of market knowledge he has.  In the end brokerage is a sales job and its all about telling the right story to attract investors.  This is your way to differentiate yourself from the other candidates.\n\nPM me if you have any other questions.", "replies": [{"id": "d195rub", "text": "&gt;  current Investment Sales Analyst\n\nhey there, how much do you think on average analysts start out getting paid in those offices in a major city like DC, NY,LA. And I would like to be an analyst, not a broker, I've heard that a lot of analysts become brokers, so if I do not want to be a broker, what would be my career path in terms of moving up the ladder/pay etc?\nThank you!", "replies": [], "depth": 2}], "depth": 1}]