How strong is Marcus & Millichap?

I've heard that they don't deal with a lot of institutional clients so people see them as lesser to CBRE/JLL/CW

They are the equivalent of dog feces wrapped in aluminum foil. Some of the most immoral unethical scum you will ever come across in the RE business.

For every successful, competent IS broker at M&M, there are dozens of inexperienced backstabbing scumbags that will lie to their coworkers and clients to get a deal done. You can't really blame them though, it's the culture there.

If you want to dive right into brokerage I would say M&M is the best at that. For comparison, I know from talking with the head of my city’s Cushman office that they do not hire cold callers. Their model is now 3 years as an Analyst before transitioning to an Associate Broker.

At M&M you will be cold calling all day to try and set up meetings with potential clients, when you finally get someone to bite and come in, more senior brokers kindly push you to the side and take over negotiations. From my perspective, that sounds like a terrible way to learn the business.

I concur. Have had a few good friends who worked at their LA office for years, when they left, they literally gave notice the same day and already had their desks packed up. They said the culture was very cut throat and despite working their for 10+ years, they were concerned with blowback from them resigning so they left the same day. Pretty much sums it up.

Everyone that I know that has worked at M&M has uniformly described the culture as a boiler-room, sink-or-swim atmosphere with very little collaboration or training. They will hire just about anyone, and at the entry level you are essentially a telemarketer. If you ever get a hold of a Marcus OM it throws out all the vibes I would be trying to avoid as a broker.

That said, while the guys I know who started there had to essentially re-learn real estate to get up to speed technically, the are phenominal on the phone and solid salesmen. If you had no other entry into the business and could claw your way through all the bullshit, it's better than nothing.

With Marcus & Millichap you're working with people who own real estate as a side business. One of the things that turned me off to them was you have to cold call a lot. It's the doctor who owns a building or the guy whose dad used to own buildings.

] I interviewed with them and they were completely honest and said you'd have to cold call 100 people a minimum a week and try and set up 5 appointments with potential clients to talk through their buildings. Then hopefully get 1 listing. The MD showed me the offices commission by person. In a middle market city they had over 7 people making 1 mil and 2 making 4 million. If you're ready to grind it out and make a ton of phone calls you can kill it if you aren't you're going to live with your mom for a long long time on that nothing salary.

Ohh, I can contribute to this one since I currently work there. AMA.

To give my $.02... I know a guy who did a year at M&M directly out of college, worked/networked his ass off, and landed an analyst gig at Eastdil IS. So IMO M&M isn't a terrible place to get a start, but I wouldn't want to stay there forever.

Heard the same about M&M pushing a high volume of outgoing sales calls. Also heard the same about being cut-throat.

This might shed some light on just how they operate:

Greysteel CEO (Ari Firoozabadi) left M&M after getting fed up with the cutthroat nature (heard from a person I know at Greysteel - who knows how much of that is an internal spin from Ari but I'm not here to argue that).

However, what's public is the fact that M&M sued Greysteel (Ari) once he left and lost on some pretty damning findings.

Key Judgments * Sanctions Marcus & Millichap for destruction of evidence: GRANTED. * Judgment dismissing Marcus & Millichap’s case: GRANTED. * Judgment finding Marcus & Millichap liable on counterclaims filed by Greysteel and Firoozabadi: GRANTED. * Court rules in favor of Greysteel/Firoozabadi and finds Marcus & Millichap liable for, among other thing, Defamation, Violation of the Lanham Act (federal statute), Tortious Interference with Prospective Economic Advantage, Breach of Contract, and Evidence Spoliation.

I'm sure some would argue that doesn't directly tie to being cutthroat and a high-volume sales environment, but not a great look for them.

Full court order here: https://mmlawsuit2.files.wordpress.com/2014/08/courts-amended-ruling_fi…

Judge's remarks are quite humorous.

I've heard from a friend that works there that one of the more senior guys in his office makes the younger guys wrestle for deals.

Secretaries in Manhattan office are hot. Mostly 8s and a couple 9s.

Well, I have been with M&M for over 1 year and my experience is much different than many posting in this thread.

I spent more than 21 years with BAC doing more than 120 CRE loans for US Trust and ML clients and really enjoy CRE. Bank got cheaper and cheaper with raises and bonuses so I quit my 6 figure salary and benefits to bet on myself. Had some sales experience with BAC, but wanted out of banking to get into RE. My Regional Manager gave me a shot and i don't regard going for it.

I had the benefits of knowing i had a nice retirement from BAC to use to bridge my income to get the training and build my database of property owners and i launched in June. M&M has a Pace Setter award for new Associates and it is 4,000 calls 10 proposals and 2 listings within the first 16 weeks. Four guys from my region made Pace Setter and several of my buddies in training have already washed out. I made it and have the first deal UC working on the next one and had many meetings and other proposals but looking good for two meetings i had this week so I feel like I am on my way. I am loving every bit of this job after 21 years at BAC but my experience helps me a lot because of I have deal stories when talking with clients to help build credibilty.

Our office really works well together has we refer clients to other brokers in a different speciality type so I don't feel l I'll ke M&M is cutthroat like others on this thread.

I joined a team half way through my training knowing that I would be giving up a chunk of my commission check, but having a team where you can leverage their track record and have your Senior Agent help you get better in meetings, proposals, etc was the right call for me. The bulk of the guys that become successful usually start out with a team.

I could have stayed at BAC and been miserable or bet on myself to earn more money than I ever could at the Bank but believe I will make more money in 2019 doing this than the six figures I was making for BAC.

It isn't easy, but if you follow the metrics it does work. Hope you guys find this helpful.

M&M is really a small facet of a much larger firm including IPA and PUR run by Al Pace. While much of what is said on here is accurate, M&M does give you exit ops into the orgs I mentioned above. One of the Eastdil guys we worked with came from M&M before going to IPA and then off to ES.

Short answer - not strong

I've been working at Marcus for a few months now, obviously I don't have an immense amount of experience in the field but from what I can tell, most people on this thread don't really know what they're talking about. It's true that Marcus is an eat what you kill environment but how cutthroat it is amongst your peers is dependent completely on your team. In brokerage the national reputation of the firm doesn't matter, what does is what market you're in and what team you're on. The team I've been on is one of the top producers in the country and it definitely feels like a family. The question here is do you want to make a killing out of UG throwing yourself into the real world and getting experience right off the bat by grinding your ass off or do you want to have a safer job that may pay dividends in the long-run if you really stick with it but has a significantly slower day to day.