Can anyone help me understand the different positions for people with 1-3 years of experience in real estate: specifically in REIT'S, commercial banking, property holding companies. Also what is the difficulty of getting into each sector?
I am thinking of exit opportunities from brokerage. I realize that I do not want to be on the sell side anymore and prefer other positions.
The only positions that exist on the buyside are analyst gigs. Your best bet is to find a firm that just lost an experienced analyst, allowing you to come in and hit the ground running. Otherwise, you may be viewed as too old/too qualified.
However, making this transition will mean you are still starting from the bottom, and will have to earn your stripes as an analyst. I made a similar transition as you to an REPE firm earlier this year, and although I have received very positive feedback from my superiors, It will still be another year before I can move up to associate. You'll be expected to put up with the late nights, face time, data research, mundane tasks that come with an analyst role, so just keep that in mind before making your transition. Make your decision fast though, it's better to make the move early.
Can you list some big REPE? Some maybe in toronto that you know?
https://www.perenews.com/pere-50/
Brookfield = Toronto
Tricon Capital
Perhaps to shed some clarity further im 3 years out in school 2 years residential side. 7 months of cre brokerage, I'm not above taking an analyst position to get my feet wet. I just want to know how realistic it is.
I couldn't really understand your comment. Are you saying you've been out of school for 3yr+2yr+7mo for a total of almost 6 years?
The typical route that brokerage analysts take, assuming they want to exit, is 1-3 years in brokerage -> investment company (equity fund), REITs, Life Cos real estate investment division, maybe development. I am sure you know this by now though having worked at a brokerage shop for a few years...
Commercial banking - probably wouldn't be too hard getting into a balance sheet lending group at a bank as you have the underwriting experience and real estate knowledge. Just about networking and showing sincere interest. Probably better odds if your were on a DCM team, not really sure.
Deleted.
What kind of brokerage? All of the partners of local/regional developers in my market came from leasing backgrounds. I think they like that you not only are a market expert and can dig up deals and build a network, but that you are willing to take risk and live without a paycheck for a while. Not sure how it works in other markets though. Just something to think about in case you can't find opps at the places you mentioned or happen to be interested in development.
brokerage analysts are typically salaried + bonus so this is seen as a safer bet.
Investment Sales Broker, not sure developer is the route for me. There's too many moving parts to deal with and having spoken to a few I don't think I'd enjoy it as much. I think one of the above listed would be more interesting for me. Analyst position might be the route from my line of thinking and I can always branch out after a few years.
Entry level Real Estate (Originally Posted: 06/21/2012)
I have read through the topics on the forum here and it has answered a lot of my own questions. I have two other questions though, and would appreciate anyones input. -University of Maryland graduate 2011. 3.2 GPA, extracurriculars, one non-real estate related internship experience (Bayer Healthcare). -Would love to work for a real estate investment company, not sure what exact field yet, for starters lets say CBRE, JLL, Cushman etc.
I have been working for the past 9 months as a commercial property underwriter (asses building risk) for an insurance company in NYC, will I be able to leverage this job in any way during an interview for a real estate investment company as stated above (entry level positions)?
I have been looking at analyst programs and various positions at CBRE and others listed above, even some banks. How do these programs recruit? What would be my best way of gaining exposure to recruiters? I have checked on line and have not had a lot of success. How competitive are they etc. etc.
What happened to your GPA? Were you an engineering or quant. major?
Finance...
I did an internship with CBRE back in university. I think I applied through the website. The other intern I worked with got the job through networking. So, part of it is luck, but if you really want a job then try to talk to the people in the industry. A lot of people have their profiles on the websites. So if you want to work at CBRE in the commercial property brokerage team you can see who the lead person is in the office you want to work at and email them for an informational interview.
This will be harder in banking because VP/MDs don't typically have their details online.
Why are you looking to make a move already? Given you went to a non-target and you have a low GPA, I'd recommend that you stay where you are for another year assuming you are picking up some valuable RE-related experience. I think after another year or two you would be in a good position to look elsewhere. In the meantime, consider a RE masters, join ULI, network, consider getting argus certified, etc. Just my two cents.
Real Estate - No Experience (Originally Posted: 08/03/2017)
Hello all,
Anyone make a jump to the real estate field after being out of school for a couple years? I graduated undergrad in 2012 and grad school in 2014, both with degrees in Accounting. I have been working in accountant type roles since (no public accounting background). Currently researching a possible career moving to real estate (mainly sell side). Any advice/thoughts would be greatly appreciated.
Thank you!
Get some courses of real estate appraisal, which later will help you with your future clients, it helps as well to understand what is the real meaning of value (price) of the real estate. The real estate (as any goods) is purchased and sold, because it has it's value, that was formed in certain conditions... The value (price) of something created in very simple way, if it in demand, it can be sold
Entry Level Positions in RE (Originally Posted: 09/04/2013)
Hey everyone
Basically I dont know what the hell I want to do for a career. I was planning to go the IBD route and have a previous internship in that area. Long story short, I decided that that lifestyle was not for me.
I'm looking to potentially start a career in Real Estate. I have always been interested in RE but for whatever reason did not think of it as a career. Shows like Million Dollar Listing and the RE "flipping" shows have lately been my "go to" shows when I turn on the TV. I know that most of these shows are set up and most times do not reflect reality, but they have shown me that I still have a growing interest in RE.
Anyway, I'm looking for some quick advice for entry level real estate positions that will put me on the right track. My knowledge is somewhat limited but I am aware of REPE, REIT, and residential brokerage. I'm definitely curious about CRE and RE development. Can anyone share some insight on these positions as well as any I am not aware of? Thanks!
In all of the divisions in real estate they hire "real estate analyst." It can turn into a very profitable career. Look at Debartolo Development. They have people in upper management that don't even have college degrees! Real estate development, if you are a team builder and good with numbers can be extremely lucrative career wether you work for someone else or start your own gig.
You wasted four years in college if you want to do residential brokerage.
Haha, I agree. No offense to anyone reading this if they went the residential route but I have no interest in doing this. I have friends doing it as well as a family member and it is incredibly hit or miss for them.
I would try to either get into a BB bank's CRE group, brokerage with CBRE, JLL, HFF, C&W (I am a real estate investment banking analyst on the debt brokerage side), or work for a REIT/Developer. If I had to choose another side of the industry, I would want to work for one of the top CMBS finance groups or on the PE side for a company such as Blackstone/BlackRock.
Don't go residential - you can easily do this later. CRE high finance will give you outstanding "top-down" skills.
Thanks for the advice, GetAlpha. I've been told that commercial is definitely the right way to go by a few different people now. Sounds like an interesting option.
Curious if you could share a little more about your analyst position. What helped you most to get the job? Did you just apply online or did you network your way in? I'm definitely interested in going the analyst route and would greatly appreciate any advice you could share that might help!
Whatever you do, don't tell interviewers that the reason you want to get into RE is because you think Million Dollar Listing is cool.
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