Hey everyone, I recently started a part time unpaid internship at a tenant rep boutique. They mentioned a few times already they're hoping/expecting I convert fulltime after graduation this spring. The partners mentioned they spend time and money training us and are taking on this risk in hopes we'll stay with the firm/produce.
I never made that verbal commitment with them and I keep saying I'm excited to learn this side of the business in this market. I am in preliminary talks with one of the top tier brokerages already for a summer internship after I graduate. I prefer not pigeonholing myself in tenant rep but also don't want to unintentionally burn any bridges if this top tier brokerage gives me an offer for a summer internship and doing what I really want: IS and landlord rep leasing.
Any tips on navigating this?
Have they made you a written offer? Given this is an unpaid internship, this "spend time and money" seems a dubious claim. They are brokers, and they are selling you! Nothing wrong with this, in fact, smart on their part (if you defer from applying for other offers, they win). How would I navigate... broker them back! Ask about signing bonuses, first year bonus guarantees, fee splits for deals worked during the internship, other perks, and of course salary! That will see how good/serious their advances are!
Only have a written offer for the spring internship. I didn't think they were trying to sell me, but you may be right on this one. From my knowledge, all the agents there are Independent Contractors which I've done before but prefer not and rather make a small salary/draw like the big firms do to get started in order to pay my rent/living expenses. I will ask about the fee split though during the internship though. Thank you as always redever !
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