Modeling expectations for brokerage → development / AM / CRE lending?

I’m currently in a brokerage role on the tenant rep side and trying to get a clearer understanding of what level of financial modeling I need to be comfortable with if I want to transition into other areas of CRE.

Development is the most obvious path where modeling matters, and my understanding is that I’d need to be able to build a full development pro forma (costs, lease-up, stabilized yield, exit, etc.). I’m working on getting more hands-on there now.

Where I’m less clear is how modeling expectations differ for asset management and commercial banking / CRE lending roles.

From what I’ve seen so far:

  • Development seems very modeling-heavy and more “build from scratch”
  • Asset management looks more like ongoing cash flow analysis, budgeting, and reforecasting
  • Lending seems more focused on credit metrics like DSCR, LTV, and downside protection rather than full upside modeling

Would appreciate any perspective on:

  1. What modeling skills are actually expected day-to-day in each of these roles
  2. How technical you really need to be coming from brokerage
  3. What the most practical models to learn would be for each path (i.e. what should I actually build and practice)
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