New guy at boutique brokerage. What do I need to know?
Long story short. I was given a shot at a boutique multifamily brokerage. Average deal size is 30MM. They are great, but are somewhat lacking in training someone new. I have a business background, but have no experience in CRE. I've been reading books (The Real Estate Game has been good), blogs, etc. but still feel I lack the technical skills that people might learn at the big brokerages as an analyst. What are some ways to increase my knowledge? What resources do you recommend?
This probably isn't what you want to hear, but you need to start calling people right now. For multiple reasons. You need to get over the anxiety of not knowing anything because a text book will help but not enough. This industry is so granular that you just pick up a little bit every day, not in a weekend reading, and you do this by talking to people. You will get them on the phone and when they ask questions you won't know the answer, just say "I'll get back to you." Then you get to figure things out for yourself or ask your senior broker. Also, if you're planning on being in sales (correct me if I'm wrong) in this business, it is going to take you months if not years to cultivate relationships and close deals (I'm sure you already know this). You are not going to call someone and get a listing. You are going to call them for 18 months and then get one. You can learn a lot in 18 months.