Im trying to break into REIT industry, as a Junior I already have under my belt an RE developer internship and a RE management internship, however theres a company that acts as a broker but sort of advises clients RE: property acquisition and does Commercial Real Estate research. Is that good experience even though its essentially a brokerage house?
Thanks for the insight as always
| +24 | Hotel Recruiters | 14 | 2d |
| +15 | Senior Living Modeling Help | 5 | 21h |
| +15 | Rate Hikes | 5 | 12h |
| +12 | Leaving Self-employment for Commercial Real Estate Brokerage | 2 | 3d |
| +9 | REPE Analyst Firm Advice | 1 | 1d |
| +7 | KeyBank RE Underwriting | 6 | 3d |
| +3 | LIHTC Syndicator Comp | 1 | 13h |
| +3 | BGO REPE LDN | 1 | 22h |
| +3 | Overtime approval | 5 | 1d |
| +3 | What are the best undergrad schools for placing in real estate finance? | 7 | 12h |
Career Resources
Get instant access to lessons taught by experienced private equity pros and bulge bracket investment bankers including financial statement modeling, DCF, M&A, LBO, Comps and Excel Modeling.
What makes you think it would be a waste? REITs use brokers to buy and sell properties too. Relationships are a big deal in RE and there is no better way to learn how to make them and to build some in a low stakes internship environment.
In my view, the best RE people are well rounded, they know a little bit about everything - brokerage, acquisitions/origination, Asset Management, property management, appraisal, development, etc. RE is like a big puzzle, the more pieces you know, the easier it is to solve problems.
WOW awesome response thank you! I thought it was a waste of time because it was a brokerage company and I thought they didn't do much analysis.
The analysis piece is important, but honestly the industry is based on relationships. Most sort of take the analysis piece as a given. In other words, the hard part is meeting and getting to know the right people, not staring at spreadsheets, but you still need to be able to do the analysis. At a brokerage, relationships are really all they do. Like @mrcheese321 said, the best RE people are well rounded so it doesn't hurt to have that experience.
Thank you^ I see what you guys are talking about know and I agree. Appreciate the comments
If you were choosing between a REIT internship and a brokerage internship, I would probably have a slightly different answer. In that case, I would say if you want something specific and you have the opportunity to do it, then you should do it. Especially while you are young and (hopefully) have a little bit less responsibility/more flexibility in your life to test/try things out.
That is the main reason I didn't take offers in banking when I graduated from school and instead went RE appraisal. Being young with no responsibility beyond myself meant I could forego a steady banking paycheck for a fee based job in my chosen industry. I knew if I didn't do it then, I would probably be a banker forever, especially as my life got more complicated with family/stuff.
If this is an internship for during the school year (or you can turn it into one), then I would take it. However, if you were looking for next summer already, nobody would fault you for waiting a little longer to make a decision.
You chose appraisals over an actual REIB offer? Perfect answer to the "why real estate" question
Neither offer was in RE - one was in a Commercial Banking group and the other was for M&A. I would of made a lot more $ in either group for a least a few years (I graduated in fall 2006, so I'm not sure what would have happened to me during the crash), but I certainly don't regret the decision.
Iusto pariatur quidem et et placeat. Dolor similique quia quibusdam ut ipsum a quae. Omnis porro quaerat libero qui suscipit consequatur similique. Provident quis quo et culpa. Possimus molestiae quisquam eligendi voluptas. Quo nulla ut sunt expedita.
Iure vel eligendi et repellendus occaecati. Eveniet nostrum consequatur quidem ex pariatur quia. Aut eaque provident quia inventore et aliquid qui.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...