Anyone have any insight into Marcus & Millichap - more specifically the Chicago office? I’ve heard they offer great sales training and typically run very lean. Any firsthand/secondhand input?
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I’m also looking into Marcus and Millichap. I’ve been with a GC doing construction management for about 6 months and will continue to do it for a little while but I am looking to make the jump to a brokerage. From what I have read here, the consensus isn’t great. People say you need decent savings because the first 6-24 months you might not earn much.
Heard this as well. No salary definitely makes it tough.
M&M offers great training on cold calling and brokerage. But in most cases it’s 100% commission (unless you’re lucky enough to be on certain high producing teams as an analyst). I would try to go with someone like CBRE or JLL first. But M&M can be a good move, just know that being a broker isn’t for everyone. (And again try to get on with a high producing team in any product type...this applies to any outfit. A good mentor is key.
Very helpful. Thanks for the insight.
Don’t do it…their reputation is trash, especially on D/E side.
If you wanna do mid-market brokerage you honestly would be better off at a smaller shop where you’re not just a number. It will be all commission still but better environment.
Know a lot of people that tried M&M…you’ll have those privacy screens on your computer monitor and spend a lot of time looking over your shoulder. Getting a deal poached isn’t uncommon.
For these types of commissioned/sales jobs, company culture actually is super important and Marcus ain’t it.
Thanks a ton for the info. Very well noted.
M&M can be brutal, I interned at a firm where the founders were a team at marcus and left. The main reason was the culture.
You think it mostly depends on the team or pretty uniform throughout?
Just want to comment for those reading now and in the future - M&M and IPA are completely different companies. IPA is more comparable to an institutional brokerage. They're not JLL, but they also aren't the M&M teams that run boiler rooms that are constantly lambasted on this forum
I think generally speaking, it is team dependent. I've known a number of marcus brokers that work their tails off and make a great living. They almost always become heads of their team or jump to a smaller regional brokerage (or start one) after 5-10 years. You can also become head of a team fairly young if you do well, two particular guys I know are late 20's when they got their own office. They had been working in the industry since freshman year of college though, so take that as you will
All that said, there are probably 10+ garbage brokers at M&M for every power player. They tend to sweep everyone up since they'll take most people in who are willing to call. That's the same for all real estate sales roles though, resi, commercial, leasing, etc.
If you're considering M&M I would definitely try some of the mid-tier brokers or even a more regional group as well. It won't hurt and culture fit is likely going to be most important factor for early stage brokers
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