Entry Level: REPE or Major Brokerage?
I’m a MSRED student at a decently-regarded state school set to graduate in December. I’ve been in talks with a handful of boutique developers and REPE shops as well as some national brokerages. I want to work in commercial real estate development but I’m not sure if I should jump right into it before putting in a couple years as an analyst elsewhere. Wondering if anyone’s had a similar experience and what you’d recommend pursuing short term.
If you want to do development, and get a job in development, take that job. There's no negative of doing a couple years at a brokerage shop first (shit, I did) but you'd be leaving that experience trying to get into development. If you can skip a step and just go right into development, do so.
Hyper specific example, I know, but had I gotten into development right off the bat, I would quite literally be worth a few million more dollars. My roundabout path made me miss the first half of the most lucrative 10-15 years in real estate history. Instead I took the long way, had to work for people my own age for a few years, and I made them rich instead.
Agree if your long term plan is development try to start there. Capital markets brokerage is good experience and likely compensation, depending on the market and product, but not really transferable.
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