Currently work for a developer - great job opportunity with our broker - how to approach this awkward transition
I am currently an analyst for a developer and have been approached by one of my colleagues/friends on a very successful investment sales brokerage team regarding a potential opportunity to join them as an associate/analyst. To be clear: my buddy who I've been i contact with is a senior analyst, not a decision-maker by any means.
My firm has worked with this team on two sizeable dispositions within the past 2 years ($100mm+). We also use the same firm to source debt and equity. In short, we have a great relationship with the firm as a whole, and they are growing like monsters in our market, blowing other large brokerage firms out of the water.
I have decided this opportunity would be much better for me because I would have much more deal exposure and work on more property types, among other reasons: tired of 75+ hour weeks/weekends, my current firm consists of 5 people above the age of 40 who are constantly out and about, this brokerage office is significantly closer my apartment, etc.
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My question is: is there a proper way to approach this kind transtition? I originally went from brokerage to development, but that was across markets 1,000 miles apart making it pretty easy and painless. I am afraid the senior brokers on the team will not want to hire me since it could sour relationships with my current firm (their client), and I do not want to my boss to think this all took place behind his back.
Happens all the time. Make sure you secure an offer in writing first before you give your current employer any heads up you are leaving. Then you can approach your employer, extend an olive branch and let them know you had a great experience but don't want to burn any bridges and hope you can help them in your new role, etc. Ultimately if the broker is concerned about losing business from your current company, it's really on them to make sure your current boss is OK with it.
Agreed, brokers would never risk the relationship. So, them discussion you as a hire means they are probably confident in their decision to recruit/hire you and maintain the relationship with your soon to be old firm.
It's pretty much SOP for firms and/or brokers to pluck each others analysts.
Getting in with a top tier team like that is really hard. I hope it works out.
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