Move from Brokerage to Analyst
Hello,
I am 1 year into my first job after graduating this past spring (Top 25 Business School). I work for one of the biggest REIT's in my metro area (East Coast) doing retail commercial leasing. I am looking to make the switch to financial analyst role for acquisitions or development company and to a different metro area on the East Coast (underwriting/Asset Management). Trying to move back to the finance side after graduating with a finance degree.
I was wondering how difficult it will be to try and break into one of these positions. 1 year in brokerage does not seem like it would hurt my chances a lot, but I am interested to hear any thoughts. Do not want to be pigeon holed or wait to long to move over.
Thanks!!
I'm in a similar boat, although investment sales and 1.5 years.
I'm assuming it's going to take a little while, like all things in real estate, so what I am doing to prepare is; -Spruced up my LinkedIn -Switched my resume over to the "WSO Experienced Professional Template" to add in a few select transactions I've been on. -Joined the ULI and registered for a few events. Haven't been to any yet, but I've heard great things about them from a networking standpoint. It seems most large metros have an active group of under 35s.
Good luck to you. I made the switch to acquisitions after 1.5 years of brokerage. I was doing land acq, leasing, and investment sales with one client/mentor and investment sales with a handful of other clients.
Don't even start looking until you have 2-3 years experience on the job.
It's definitely doable. You have a finance degree from a known b-school and experience at a well known REIT. On paper, you already have something going for you assuming your GPA isn't a 1.2. An East Coast to East Coast move won't be easy but it's not going to be extremely difficult.
You actually could spin this pretty well. Leasing is where the value is created, so there you go. If you can go in and impress firms with your knowledge of leasing and how it applies to the bigger picture, in addition to all this stuff I'm going to explain below, I think you'd be competitive. Probably more so for development since acquisitions is tough no matter what. Have you thought of Asset Management at all?
For you, I think you should focus on your one year of experience, ARGUS, and other stuff that isn't too complex but leasing probably doesn't cover. One year is fine to start looking, but something closer to two years might come off better. Not sure if you use ARGUS at all, but learn it if you don't know it yet. Anything you can do to show that you have an understanding of RE capital structure, valuation and RE economics will make your case stronger, too. I think your finance degree will help offset it but not sure how much of this you cover at your current job.
Above all, network.
Thanks for the great advice. I finished with a strong GPA in college. Just wanted to see if people thought if I worked too long in brokerage, I wouldn't be able to make the move. Started in brokerage with a good reputable REIT, but always wanted to be in an analyst position.
Don't use any ARGUS currently but plan on taking classes once I begin the job search. I will most likely look for Asset Management and development positions.
Definitely agree here and would strongly disagree with Shervin above.
Many of the analyst positions out there posted are asking for a Finance degree with a strong GPA, and 0-2 years of real estate experience. Especially for a corporate financial analyst (which could yield transfer ops into AM or Transactions) or an AM analyst, the leasing experience is key. To go directly into Transactions, it would be tough, but either way if you stay in that gig for 2+ years you have a much higher chance of getting pigeon-holed.
Can't speak to the development side as much as my knowledge is limited and I think it varies greatly firm to firm what they are looking for there (I've seen companies looking for like civil engineering grads before). Asset Management has so much to do with Leasing that right now you are probably already a pretty strong candidate, you just need to get some stuff on your resume showing competency in excel and as mentioned above, RE economics/finance. Take the REFM courses, toss them on your resume and I think you'll be rock solid (especially considering a lot of ppl applying for these jobs are straight outta college with maybe just an internship under their belt.)
Any other opinions? Much appreciated.
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