Through networking, a friend of mine introduced me to a senior executive at a well known real estate investment company as someone looking to break into the industry and if would be willing to help me out. He reviewed my resume and got back to me and we scheduled a time to meet at his office.
In preparing, what would be some good things to do ahead of time and come prepared with? The basics (resume, positions that are of interest to me, his background, company background, big deals currently in the works) I've covered. What else can I do to prepare, questions to ask, topics to discuss, etc.?
For reference: I attended a target school and was a student-athlete been working in loss mitigation for a couple years. Firm headquarters and meeting location are on the West Coast.
Thanks in advance.
This early in the networking stage... Just be yourself. I would be prepared to answer "why switch to real estate." Give that one some serious thought, and be sincere about it too. Your experience is likely to come up in this discussion. Try to think of a segue that would link your experience being applicable to real estate.
The way you described the meeting seems more so of an advice session as opposed to an interview. Approach the meeting as you looking for friendly advice and show you are dead serious about real estate. If he likes you and believes you, then this can lead into an interview at his firm, enlightening advice on how to break into the market, or a referral to a shop that is currently hiring.
Real estate is all about networking, do it right and you will easily break into the industry.
Thanks Gentleman, that's helpful! Any others have some insight?
Ask him what he thinks about this cycle... This has been a very unusual cycle so far. Huge land price run-ups early and very little traditional entry-level "volume" on the residential side. Does he expect this to be a shorter cycle than normal, or is he still excited for the return of traditional buyers (read: non-Chinese/rich guys).
If he's more of a CRE guy - I'd ask him about office vacancy rates, which have stayed elevated since the downturn. What gets those back to more normal levels? Did we overbuild offices last cycle?
Agree w/ GentlemanAndScholar on just trying to seek advice.
Remember to end the info interview with asking for referrals, will help build your network and help you learn more about the specific interests you have in RE. It is ok to ask for referrals in other parts of RE if what the person is doing is not what you want to do.
Ask him what keeps him up at night about CRE. I've found from personal experience that CRE higher ups are a lot more honest and will talk a lot longer when asked what stresses them more than "What's your favorite part about working in CRE?"
I'd advise staying away from some of these granular questions. This guy didn't invite you to his office to talk about vacancy and rental rates, he is agreeing to listen to your story and see if you have what it takes to be successful in this business.
I'd stick to the basics and be able to explain: why real estate, what are your goals, what motivates you, why would you be successful in this industry, what have you done in the past that makes you a marketable guy? Be able to connect at a personal level and don't be afraid to ask him hard questions like DK mentioned.
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