CBRE: Valuation Associate vs. Portfolio Analyst?
As a newly college grad and applying to CBRE, I have researced to find they have the best training programs for new graduates and people starting out in the field. I'm curious to know if there is a better entry level position to start in that will give me the exposure and tools to learn and understand the indestry better to lead me to becoming a broker with the firm. Both Valuation Associate and Portfolio Analyst positions have both became open recently. Thoughts on both positions on which would be best for the broker route or another position.
Not sure if you are aware but CBRE's valuation group is appraisal.
What kind of broker are you wanting to become? Investment sales at CBRE is any property that is >20 million in value. If you want to become an IS Broker then I would advise you to become a Real estate analyst on an Investment sales team, and then try to rise the ranks in the next couple years.
CBRE also has a program called "Capital Markets Associate Program". This is aimed at professionals with 2-3 years of experience and is designed for brokers to work in the 1-10 million dollar property value space.
There are other brokers that you can become. Debt and structured finance, Tenant Rep, Advisory and transaction etc.
As someone working in brokerage if I could do it all again here is what I would do (something that has been stated multiple times on this forum but it never hurts to see it stated another way) :
1.Figure out what type of broker you want to become, and in what market. 2.Target team members of said broker and network 3.Try to get on in some capacity as an analyst and then rise up the ranks.
Obviously there are backdoor ways to eventually become a broker such as starting off in appraisal, research, marketing (have not personally seen marketing achieved but I am sure someone has done it), leasing and I am sure a ton of others that do not currently come to mind. Appraisal and portfolio management will give you a great understanding of real estate without a doubt, however if you want to become a broker most of the time you are going to have to start off as an analyst and work your way up, or have experience as a broker at a smaller shop with a good track record and then switch over to a CBRE, HFF, Cushman.
No one to my knowledge is starting off directly as a broker fresh out of undergrad at CBRE, HFF, Cushman etc.
Those are some great points I will take into consideration. Also, since for example CBRE has one of the best training programs for recent grads, if the positions are not currently available at CBRE, what would be some other firms to look into to start my career. Would firms like ColdwellBanker gain positive experience, but also being a commercial/residential firm counter play since commercial firms would turn down someone in residential?
Don't only focus on just CBRE. They have great training but so do other brokerages such as HFF, Cushman & Wakefield, JLL and even Colliers. I would look at the brokerages I just mentioned.
CBRE appraisal is a sweatshop, there is not much of a real training program that goes on. Depending on what team you are on or which appraiser you work for you, you will essentially just be churning reports day in and day out. As a valuation associate I did not do any financial analysis, but mostly data input into excel templates. Of course, as with everything, the more you put in the more you get out. I definitely still learned/benefited from the appraisers and MDs in the office. I cannot comment on the portfolio analyst position, but from my experience as young professional I wouldn't recommend taking a valuation associate position especially if your end goal is to become a broker.
How long did you stay in the Valuation Associate role? And what is your current job if you don't mind me asking?
I was in valuations for about 2 years during my junior/senior year of college. I was technically an intern my whole time with CBRE, but I was doing the same work as the valuation associate on the team just earning intern pay. Upon graduating I landed an investment analyst position for a re investment management firm.
Nice, I basically just did the same thing. Worked in Valuation for six months and leveraged that to land a financial analyst position. I had a low GPA and not tons of experience and thought Valuation to be a great introduction into CRE and a good way to get into a solid company like CBRE.
Bump. What would a portfolio analyst role entail at a cbre/cw/ngkf etc.?
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