Licensed going into commercial real estate brokerage help or hurt? (CBRE, JLL,ect)
As recently graduating college and looking to go into a commercial real estate brokerage like CBRE, I would like to be in the investment or leasing side of brokerage and eventually become a broker in one of those sectors.Would having a real estate license help or hurt being hired as a analyst to a commercial firm like CBRE. And to get experience at a smaller firm or company that has you work in both residential/commercial ( Coldwell, Sotheby's,ect) a good option if the large firms are not hirering at the moment? From my knowledge, commercial firms down look residental license/experience and commercial license can only be obtained after 4-5years after the analyst/associate positions.
I can add a little to this, having a license will help to an extent(probably not cbre) but M&M might look at it in a way that you’re taking initiative and want to become a broker in the long run. The license is ~95% residential and is in a way like getting your driver license. You’re pretty correct on how commercial guys look down on residential guys, saying this from first hand experience in my office. If your goal is commercial, don’t bother getting into residential, keep connecting with people via LinkedIn or emailing by looking up agents at offices near you.
What exactly was the perspective of people in your office on someone with residential license/experience? Yes my goal is a commercial broker so most likely stick out connecting with agents to get my foot into a firm.
Most states don't have a separate residential and commercial license, from what I know. It's just a 'real estate' license. So it shouldn't hurt you having it. You'll eventually need it, anyway, if you want to be a broker/agent, so why wouldn't you just get it done while you have the time? It can only help you.... No firm is going to say 'oh wow what an asshole this guy has a license - auto-ding'.
You'll need it eventually. At most shops you might not necessarily need it as an analyst but they'll want you to get it. Usually, there are two levels of licenses. A brokers and a level (in CA it's salesperson). You need the lower level first and need to partner with someone who has a higher level. After a few years you can apply for the higher level.
Get your salesperson license. The test is ridiculously easy and I got mine at 19 over a summer. It shows iniative and definitely will not hurt you. You can make some pretty good money in resi brokerage while you’re at it. If you can get into a solid firm (Christie’s International Luxury Real Estate, Sotheby’s, Douglas Elliman, Compass) and close a few mil or more while doing college full time you will impress a lot of CRE brokers. Maybe not Eastdil, but HFF/ CBRE/ CW/ NKF will give you looks.
Is that the residential or commercial sales license? could I finish the license within a month studying and taking it? I've already finished college but regardless it might show credibility and initiative. DE would need 2yrs experience to join but possibly one of the other firms like Sotheby might hire. Coldwell Banker an option for commercial or stick to MM/CBRE/JLL ect..
Residential and commercial is the same license. The exam is 99% residential stuff anyway. Maybe a little less but you get my point. Each state has different requirements but CA you need 3 courses taken over 3 months or something like that. Then you can take your salesperson license exam.
Sotheby's and Christie's would take someone with no experience.. I would know
Don't do Coldwell Banker Commercial. There is seriously no reason to do that ever. Go to MM/ CBRE/ JLL/ etc. Marcus will take people without experience (despite what people say about the shop- some do succeed)
It will help. I spent a couple months as a market analyst as my first job because I didn't have my license.
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