I have a CRE Brokerage interview and have no idea about CRE
I sent my resume for the heck of it and immediately got called for an interview. It's at a pretty reputable firm. More like 2nd tier though (not CBRE). But I have absolutely no idea about CRE. None of the terminology or interview questions. Nothing. My interview is Friday. What do I do
It's brokerage - get them to like you.
sell yourself
sell your ability to get your RE License
say you want to build a career
say that you are hungry and not afraid to cold-call and prospect
Can you detail what region, asset classes, and your background? Also feel free to pm me. I work with brokers on the daily.
Not sure if you've had the interview yet but in case you haven't... I've gone through several CRE "conversations" with various firms when I was starting out and all have asked me in some form or fashion what appeals to me about CRE. So I'd definitely have a well thought out, intelligent answer to that question.
Having previously worked in investment sales in brokerage in NYC - sum your pitch up along these lines: 1. You like/love/enjoy real estate - and why
2. You understand that it is hard work and what you are signing up for - cold calling, making pitch books, market research, owner research, and maybe asset analysis. 3. You are willing and able to stick around for fire drills and understand that they are a necessity in the field - generally due to...well nm they happen a fair bit. 4. You are excited to be on that team or in that firm specifically - look up some past deals they have done recently and mention them. 5. Bonus points if you can ask them about the underlying financials of that deal, such as how the cap rate compares to similar properties you saw trade or that are currently on the market, or have some knowledge of either party in that transaction.
At this point unless you stutter, smell, or are genuinely awkward you should have a spot on the team/in the firm.
Also make sure you do this shit in person, not on the phone with operations or some random associate on the team - his job is probably your job and in most cases it doesn't behoove him to make you shine. (commission sales is cutthroat as you will find out shortly)
This is some really solid stuff. Thanks a bunch! And I'd appreciate your insight on this: How do you think I should conduct myself overall? Should I be more subdued, dispassionate, and try to carry myself with gravitas, or come across as an intense, motivated, and entrepreneurial go-getter? The latter is my impression of what CRE firms are looking for, but I don't want to come across too strongly...
sounds like you'll make a great broker!
Hey everyone,
Thanks for the replies! Fortunately, I was able to wing it (thanks, in large part, to my general interviewing skills). The interviewer was impressed that I had clear, well-structured responses for every line on my resume. He was also blasé about the whole thing, so that helped. I only had two CRE-specific question that I had prepared for the day of. They're going to call me back to meet with some more seniors and "make a decision then" -- which I don't know how exactly to interpret (good/bad).
At this point, I'm working on drafting intelligent questions to ask (both general and industry-specific). If any of you have suggestions, I'd be extremely grateful to hear them!
Honestly, I am not sure. Each team will have its own fit.
At the end of the day it is sales, so definitely be outgoing but if you deliver recommendations/products that are good; I doubt it will matter too much. (Once you are in)
I saw borderline retards, who simply parroted MD's/principals, do well. I also saw those kinds of people get tripped up in client meetings and try to bluster through. (Hilarious during a meeting we had with Carlyle at the time)
Sorry the advice isn't more helpful. If you have to wing it, because you can't read the personality, just go with A-Type personality and you'll probably be fine. (Somber analysis while appreciated is generally not a primary trait that people are going to look for, they want someone that will get shit done and wont be awkward during a client meeting, walk through, or company outing.)*
YMMV*
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