CRE Debt Brokerage BizDev Role Advice
Hi All,
I've come across a role for business development at debt brokerage. The typical progression at this brokerage is a few years as an analyst to a broker if that is the goal of the employee. But, the firm is bringing on a BizDev associate to increase the pipeline for the senior broker. This role is categorized for those that are typically more outgoing and sales-centric. The company usually hires more analytcial individuals for the analyst type roles. Now, here's where I'm at a crossroads. I want to set the best foundation possible for a succesful career in CRE brokerage and I was under the impression that comes from understanding the "nitty gritty" of the analysis. I've recieved conflicting advice for wether or not I should take the role. A debt broker at (CBRE, JLL, CW) told me he advises against the role because I should learn from the ground up. Whereas others in CRE that have worked in CMBS and analyst positions think it could be a good oppurtunity because they suggested that the most important quality for a broker is to bring clients in the door. I understand if one is in a BizDev role they must be able to speak the language and this would be taught by the senior broker and go from there. The BizDev progression to broker would more than likely be quicker than an analyst. The brokerage is a regional player that is a sold firm. I'd really appreciate to hear any words of advice from you guys and what you deem is more important; Sales or analytical skills.
Background about me: Graduated from a respected school in region with finance degree in January. No direct RE experience.
Curious, do have an actual offer for this role? or are you debating on applying?
Soft offer
Okay, given that you a recent grad, I'm going to assume you do not have some deep "rolodex" of contacts and relationships. Thus, being "bizdev" is nice way of saying a super cold-caller/networker type. To be honest, a brand new person doesn't seem like the best fit for this role, but I am not a broker (I'm on buyside in development) so maybe they have it figured out (just had to add my two cents).
I really see no harm in taking the role, if you are meeting/creating the clients, you can probably elbow your way into the some of the analyst work or learn by watching somewhat. Clearly, this is a "First" job, not a last job.
So, if this is the only offer on the table, I would probably take it. I don't see any downside, and maybe you meet your next employer by cold calling on them if you don't like this. So in many ways, it could be a great first job.
Eos ea accusantium architecto quo ipsa minus est quae. Deserunt in dolorum ad nostrum voluptatem.
Qui tempora quibusdam quia provident. Animi ea minus officia velit harum sint. Est rerum quia quidem et voluptas tempora consequuntur. Vero suscipit neque tempora eum quos in voluptas.
Qui doloremque itaque veritatis corrupti. Dignissimos eaque sit molestiae enim.
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...