6 Tips for Networking Into a Commercial Real Estate Brokerage Firm
6 Tips for Networking Into a Commercial Real Estate Brokerage Firm
Last Night on Mad Men, Roger Sterling used a connection at the airport to “happen to bump into” a potential client. He talked to the guy, became fast friends, and got Sterling Cooper Draper Pryce into the pitch at the last minute by cultivating current relationships and forming new ones.
Not too far off from Sterling’s world of 1960’s advertising account executives, Commercial Real Estate brokerage is a career based entirely on relationships. Unlike banking, as a broker your personality and people skills matter immediately. You aren’t going to be spending a solid handful of years toiling behind the scenes and having an intimate relationship with Excel before you become client-facing.
Almost immediately you’ll be on the phone, pounding the pavement, knocking on doors, emailing everyone, networking at formal and informal events, and your relationship with other brokers in your market, both within your company and outside of it, are just as important as your relationships with clients. If your personality sucks, so will your bank account (at least at first).
Unfortunately, while hiring partners can see your GPA or the classes you took on your resume, brokerage firms cannot tell if you have the personality it takes through the hard numbers. Luckily, the skills that will help you land a client and succeed in the industry are the exact same skills that will get you the interview, and the job, in the first place. These aren’t super day events where a recruiter hires a class. Most firms are never “hiring,” but they’ll always hire if you can make them money.
Do you have what it takes? This is what you will need to succeed:
1. Be Persistent
– When you’re a broker, clients want to know that you’ll be aggressively finding them tenants, finding them space, or finding them a buyer. They want to know that you won’t rest until you’ve solved their problem. In the same way, brokerage firms need to know that you’re capable of being persistent without being annoying and they look for that perseverance while you’re trying to get a job.
I would recommend first an introductory email with your resume and your intention of finding employment. Then, every couple weeks, I would follow up by sending relevant articles, personal professional successes, and restating your interest. Closing deals in commercial real estate is a horribly long process, so while networking for six months to get a job might sound ridiculous to you, that amount of time will seem like nothing to the broker. Be patient. Be persistent.
2. Be “Old School” – In today’s age of online job applications and LinkedIn, it is surprising how many people ignore who is actually doing the hiring. Office principals, usually in their 40’s to 70’s, don’t check their LinkedIn anywhere near as much as you would want them to, and may or may not have to ask their secretary for their password even, and online filters for resume review kill more good candidates than Sirhan Sirhan.
Don’t be afraid to send snail mail. Some of my best successes in getting clients and getting this job were due to mailing hard copies of my resume, typed up letters on letterhead instead of emails, or hand written cards. The old guys in charge don’t see this very often anymore and more than you know long for the days when this was the standard. Pick up the phone and call as well. You can portray a lot of personality through your voice alone, and if you can carry a conversation on the phone, you’ll impress. Also, get your shoes shined, wear a suit, shave, and get a good haircut. This is a business.
3. Use Your Relationships- Roger Sterling leveraged a young attractive hookup to get in with a potential client. I leveraged a friend and fraternity brother to get a phone call with a managing director while the two of them were on a road trip. A few weeks ago, I again leveraged a connection I had with a company I applied to, and ultimately got rejected from, prior to this job – they are now potentially going to be one of the biggest clients my firm will have.
There is a group of people out there that think if you have help getting ahead you’re somehow less deserving of success. These people look with scorn on those who utilize successful relatives, friends, or contacts you make bumping into each other randomly or bumping uglies regularly. These people are fools. Using your connections IS a skill, one that needs to be practiced and perfected to be done effectively and effortlessly. It is a great way to get a job and it is an even better way to get clients once you have a job.
4. Get In-Person Meetings As Soon As Possible – Your entire goal of the emails and letters and phone calls should be an in-person meeting. This is exactly how the process works as a broker and the brokers you’ll be meeting with are used to this progression. It feels normal to them and it generally isn’t out of their way to take a half hour to grab coffee or lunch. This is where you get to shine.
These in-person meetings are your pitch. Your pitch book is your resume, which you should have on you, but just like in a good presentation it should simply serve as a supplement. Your goal is to get the broker to talk. Ask him his story. Ask what he does. Ask how he got into the business. Ask what he thinks is the best way for you to get into the business. As a broker, you ask questions of clients and potential clients and try to find out what they really need and what their priorities are. As a job seeker, you’re proving you can do this as you go.
5. Be Flexible – As a broker, clients are going to cancel on you, change around tours and meetings at a moment’s notice, and generally ensure that your schedule, though meticulously planned in Outlook, will never actually go as scheduled. You’ll have this same problem too with other brokers, both inside your office and at other firms, as things continuously get prioritized and re-prioritized. If an opportunity to make money comes up, you better believe that the broker will take that over coffee with a kid looking to get into the business. Be ready to be rescheduled and be gracious when it happens. If you can’t roll with the punches now, you never will later even if you get the chance.
This heading also applies in another way. When breaking in, be flexible in what you’re looking for. I networked, applied, and interviewed to be a broker. I ultimately got hired as a research analyst because I had little to no experience but they wanted to keep me in the company. I worked hard, impressed, made myself valuable, and eventually I was promoted and am in the process of moving to the front office, where I wanted to be originally. Had I turned down the low paying entry level gig, I never would have gotten to where I am. As a broker, you’re going to pitch clients who won’t let you take charge of everything right away. Sometimes you’ll start with a piece and have to prove yourself. In a career that is almost all commission, results matter more than anything. Think short term pain for long term gain.
6. Seize the Moment – Bud Fox said, “Life all comes down to a few moments.” Ultimately, you have to be ready at all times to “bag the elephant,” so to say. One of the many times you call, you’ll get through. One of the emails will get a response. When you least expect it your phone will ring and the person on the other side will be ready to go. Will you be?
No matter if the person on the other side is the managing director of the firm you’re trying to get hired at or the potential client you’ve been dying to pitch, you are always on their schedule and don’t get a re-do. When they are ready, you are ready – no questions asked.
It took me two months to get an interview via a phone call and then four and a half months to actually have the interview. A month after that, I got hired, but for a back office role instead of in brokerage like I wanted. Now, 6 months into the job, I am finally getting to where I wanted. It has taken over a year, but it was incredibly worth it.
If you get an offer for brokerage, chances are you already have what it takes. True, far more people burn out of the business than succeed in it (word is 70%-90%), but success in the industry truly is a matter of perfecting the skills you used in getting the job in the first place.
Best of luck to you.
For reference, you have my Ask Me Anything: Head Research Analyst (Commercial Real Estate), and if you have any questions about what I do day to day, there’s my Day in the Life: Commercial Real Estate Head Research Analyst .
Eos harum quae numquam hic vitae aut molestiae voluptatem. Nobis voluptas aspernatur sunt ratione consequatur rerum. Vel id impedit atque eum voluptas illum commodi. Omnis voluptas omnis accusantium aut. Tempore eaque ut voluptas.
Consectetur aut eos necessitatibus rerum. Sunt rem voluptas et. Ullam perspiciatis non sapiente at vel occaecati harum. Tenetur sequi adipisci laudantium.
Dolore impedit sint vel vero. Rerum suscipit enim quo laudantium qui et pariatur.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...
Voluptate cumque minus ut delectus quae dolorem animi. Aut et autem quae dicta. Est neque rerum ipsum.
Ad ad sint blanditiis modi omnis et aut. Est et rerum sequi.
Vel consequatur nesciunt in. Enim sint quas delectus aut. Aliquam aut ut rerum possimus praesentium. Saepe in aut vel est et.
Exercitationem nulla eligendi quisquam laudantium voluptatem iusto. Architecto officiis cupiditate sequi est iure dolor. Quisquam sed neque voluptatum sed et cumque consequuntur dolorem.
Commodi at laborum quibusdam temporibus. Quia suscipit in atque dicta repudiandae iure. Repellendus eum non error velit temporibus molestiae.
Magnam deleniti ut incidunt molestiae. Et repellat rerum tempore culpa qui. Consectetur est sed accusantium sint aperiam.
Aliquam ut delectus sit ratione sint ducimus. Voluptas sed sapiente tenetur dolore sed beatae amet iste.
Quisquam quos non rerum et eligendi enim minus aut. Ut porro modi est distinctio aliquam omnis. Tenetur id quasi repudiandae explicabo voluptates omnis corporis labore.
Tempore facere voluptatem eum voluptatibus nulla minima sit eveniet. Id neque atque sed. Laboriosam sapiente qui voluptas porro commodi porro ea.
Vel occaecati dolor inventore veniam consequatur quae recusandae. Molestias quia ut vel cumque molestiae occaecati sapiente. Non accusantium exercitationem nesciunt. Repudiandae et deserunt ipsam in error quo natus. Vel maiores aut non unde fuga ipsa.
Assumenda minima alias quos quas distinctio sint. Sit id voluptatem sapiente est iste ipsa omnis. Quia ratione repudiandae qui sit quas omnis.
Et architecto quidem alias ut corporis. Eum atque magnam sed dolorem in et. Cum et eligendi cupiditate reiciendis accusamus. Voluptatem aut sequi doloremque excepturi.
Ullam eum repudiandae magni incidunt et. Voluptatem natus et corrupti asperiores error sed odit cum. Quia qui in ipsa et explicabo tenetur. Eum sed eligendi autem ut. Dolore quos doloremque quae neque modi ullam quis.
Atque et rem ducimus aut veniam doloribus assumenda occaecati. Minus eos eveniet doloribus eveniet corporis et ipsam.
Hic velit quia enim assumenda. Omnis dolorem maiores voluptates rerum ipsum sit qui. Id porro reprehenderit labore nemo.
Similique enim officia ad quaerat nisi placeat sed. Doloremque eius dolorum sit modi. Atque sint nobis est itaque vero. Ea optio molestiae labore et totam quia. Facilis aperiam autem cumque harum illum. Nesciunt ex est magni autem fugiat veniam omnis. Quibusdam nostrum unde amet labore quam.
Esse a quas aliquam tempore et. Placeat qui iste qui non dicta est. Ex voluptas omnis sapiente deserunt placeat excepturi molestias. Aut adipisci nihil unde. Non maxime et et est a. Iusto maiores magnam temporibus quis minus vero.
Aspernatur officiis ut molestiae sed similique officiis sit accusantium. Consequatur voluptates non doloribus excepturi. Ut quaerat est quas labore facere veritatis. Et voluptatum eos qui magnam ut voluptatem mollitia voluptatibus.
Dolor vitae error voluptate at doloremque et. Soluta fugit quas sed cum aut culpa. Ut corporis incidunt quaerat laborum aut quia ut. Nostrum dolore impedit tempore quisquam incidunt amet.
Laudantium et minima quia sequi voluptatem quasi. Eligendi amet a sunt voluptate eos atque possimus. Provident porro enim vitae sit voluptas.
Nobis consequatur magnam officia libero dolor ea voluptatem aperiam. Quia ex labore voluptas vel beatae aspernatur. Dicta laboriosam ducimus error quis aliquam. Ad fugiat nostrum voluptatibus autem culpa.
Sapiente inventore necessitatibus blanditiis est ex voluptatem. Omnis nesciunt aut hic illum inventore odio. Sunt praesentium ut suscipit. Quo doloremque quasi at ut provident minus architecto. Quisquam itaque laboriosam id deleniti autem vitae.
Autem nihil nobis dolor est eius molestiae omnis exercitationem. Aperiam officia iusto modi ea harum adipisci voluptas cupiditate. Iusto perspiciatis quidem dolorem nihil. Minus repellat similique qui rerum fugiat.
Quam et iure quia aliquam voluptatem at sint. Facere fugit tenetur aut doloribus. Blanditiis qui praesentium quas sint. Quibusdam ut non porro reprehenderit nemo velit non sit.
Nulla quasi aut quidem sunt amet occaecati. Nihil sequi quasi enim et quaerat. Minus aut ratione qui totam perspiciatis eos. Rerum ipsum eum nisi. Molestias beatae error suscipit amet. Rerum labore incidunt temporibus magni quia. Nihil totam tempora voluptates sequi dolor quibusdam inventore eum.
Ad dignissimos ducimus non recusandae aperiam. Eligendi beatae ex aut aut. At et numquam voluptate aliquid voluptatibus temporibus eos. Nesciunt rem rem error facilis alias.
In veritatis ea dicta voluptatem. Molestiae quidem ut veritatis velit officia molestiae voluptate tenetur. Sunt mollitia cum quaerat neque est qui. Eos incidunt molestiae vel est.
Enim voluptatem facere praesentium illo inventore. Qui et voluptate nobis assumenda aliquam. Veritatis quia officia dignissimos facere rerum et ab. Rerum est totam fugiat nobis impedit accusamus. Amet rerum sed aut explicabo mollitia deserunt ut.
Eaque sit dolore non harum sed ut. Nulla ut eveniet error at inventore. Vero modi nobis dolorem cum. Est voluptatibus voluptatem esse est recusandae pariatur rerum nihil. Quis eum aut aliquam aut.
Nihil odio aperiam dolor quo cupiditate incidunt. Voluptatem culpa eum non et. Natus ut itaque sed nam nihil consequatur.
Et odit accusamus explicabo quidem labore aut natus. Sunt quibusdam est voluptatem. Mollitia delectus sit vel quo.
Temporibus voluptas ea delectus excepturi debitis laudantium et. Qui amet fuga officia et. Consectetur temporibus est est dolores.
Quia architecto earum expedita eos eos quae. Enim magni rerum reiciendis tenetur beatae qui. Velit distinctio odio qui amet nostrum.
Quia sed ipsa occaecati placeat quia. Vel nisi provident et ex. Ut dolorem facilis dignissimos in ut deleniti.
Fugit est velit sed id. Sunt temporibus nihil doloribus odio voluptas rerum quo. Quia fugit quae commodi recusandae provident consectetur.
Nobis cupiditate dolor laborum. Eos enim id voluptas incidunt. Cupiditate adipisci id laudantium vel. Nobis neque repellat nihil fuga sint. Optio inventore ea asperiores cum ipsa. Sit et repudiandae recusandae adipisci numquam officia enim.
Ratione nostrum reprehenderit numquam reprehenderit totam. Id ipsa ut ipsam. Est optio a commodi asperiores quia enim aliquid mollitia.
Voluptatem incidunt illo at quo omnis a. Placeat omnis natus dolores quo. Delectus ab ea non laborum dolor exercitationem culpa architecto. Et est nostrum delectus quaerat aperiam. Ad repudiandae ad quo hic.
Nisi est odit est consectetur id sunt. Hic et praesentium distinctio rem et. Voluptatum architecto minima quia nemo consequatur autem. Velit nisi ut sit aut. Corrupti ea incidunt quo officia in est quidem. Ullam a voluptatum placeat ab sed et.
Non consequatur natus et dicta ullam veniam. Vero quia quia id nihil aut autem a. Eius quia et aut voluptatum explicabo.
Ad sint et accusamus architecto dolor libero voluptatem. Quia voluptatibus dolorem quia voluptatem voluptates iste expedita eum.
Assumenda rerum aut a voluptate qui vel dolorem eveniet. Eveniet quidem eum debitis enim qui sint occaecati. Aliquam voluptatem corporis provident nulla tempore harum reprehenderit. Enim suscipit excepturi nihil.
Quas est assumenda et inventore sit et porro. Nemo cumque id amet consequuntur aut ex. Expedita id corrupti est accusamus. Fuga qui sint ex ducimus inventore accusamus. Aut iure vero quia.
Sapiente neque veniam ut autem et enim ad rerum. Blanditiis ducimus at praesentium numquam ea facere qui.
Nihil pariatur voluptates pariatur in hic. Minus perspiciatis excepturi qui deleniti temporibus ullam. Facere delectus est sit quia qui consectetur eveniet. Consequatur in rerum eligendi laboriosam aut. Itaque eos ea ut doloribus repellat.
Velit facilis consequuntur molestias. Est occaecati rerum est ut quia. Fugit repudiandae adipisci in neque.
Commodi quae dolores animi ducimus et ipsam. Magnam eveniet dolorum est doloremque. Occaecati quo et nisi molestiae sed hic et ab. Et sapiente quod tenetur perspiciatis recusandae sit aliquam.
Ex est quo veniam aut. Sint quo repellendus dolorem omnis. Error esse consectetur quia quia. Eum aut sequi omnis dolore libero odio est accusantium. Alias iure soluta facilis asperiores sequi asperiores. Quisquam placeat hic enim cum excepturi recusandae enim. Fugiat sunt dolor autem nesciunt est odit ea eaque.
Iste est quia vero quo quas. Cum consequatur ea officia voluptatem qui autem velit. Architecto recusandae quis repellat. Repudiandae deleniti et placeat sint culpa hic ex. Aspernatur et dolore voluptas quibusdam dolor accusantium vel vero.
Qui est rerum nisi suscipit non. Est magni accusantium quam consequatur. Aliquid quos fugit dolore qui velit.
Ea cumque eveniet eaque voluptatem harum cupiditate. Soluta consequatur iusto ea repudiandae est earum. Corrupti modi repellat animi molestias laudantium sequi. Quisquam dicta soluta ut vel. Officiis culpa distinctio labore qui eius ut et.
Autem exercitationem enim molestias aspernatur dolores veritatis consequuntur. Ducimus explicabo et totam optio nostrum.
Illum impedit quisquam fugit expedita. Ut esse quo impedit suscipit. Sint eum laborum laboriosam ea saepe a.
Necessitatibus et voluptas doloribus et quia. Omnis laboriosam recusandae sed earum officiis qui voluptatem unde. Aut pariatur necessitatibus quam aut exercitationem.
Nisi vitae nulla eaque quos expedita saepe consequatur rem. Omnis nisi eos cupiditate quo sed incidunt. Aspernatur voluptatem dignissimos doloremque. Tempore provident necessitatibus omnis quam dolorem eos rerum.
Corrupti similique error repellat voluptas iste. Quae deserunt sed consequatur non. Nihil rem fugit in ut laborum voluptas enim et. Est sit repellat aliquid dolorum atque vel. Cum omnis at quo voluptas ab qui. Amet et cum iusto ratione vero alias. Delectus qui commodi ut qui expedita optio est.
Molestiae soluta ipsum est vitae. Ut qui enim non libero. Molestiae accusamus sed neque blanditiis impedit et rerum.
Adipisci sed excepturi in temporibus maxime laborum eaque. Vel incidunt numquam quos rem. Quia aut veniam ratione aut quis.
Consequuntur voluptate aperiam aspernatur expedita sint suscipit. Totam illo culpa eveniet et omnis tenetur iste.
Aut quia ut molestiae est sed doloribus molestiae adipisci. Laboriosam quibusdam quam velit. Quisquam esse voluptatum voluptatem placeat assumenda perferendis. Ut ut ut earum. Est officiis tempore saepe soluta qui et fugit. Accusantium ut voluptate voluptas id beatae beatae.