I had a phone call earlier with a top industrial broker in LA to get some advice on starting in the industry when I graduate in January. It was interesting because he told me that he believes the best way to start is by having some corporate level sales experience from another industry such as technical, software, manufacturing etc. He started in technical sales in the 80's and after three years transitioned into CRE. What he was saying makes sense because I believe that no CRE brokerage can offer the extensive training that some companies in other industries can. If you're a newcomer to the brokerage business, the biggest hurdles is learning how to sell, the real estate market, and finding clients. If one has no sales experience, this could prove to be the hardest thing to learn because without it, you couldn't really get clients. Not only would a tradition sales job be a great way to learn the skills neccesary for RE but, you'd get paid a salary + commission. If you have this type of experience, it'd probably be much easier to get into a career in CRE without having to suffer the pain of learning from the senior broker on how to sell.
In sum, it sounds like a good strategy especially in the current market because instead of grinding an entry level RE role with no pay, you could get better training in sales, make decent money out of college, and make yourself a better candidate to top shops without having to start as an analyst or coordinator.
I've been planning on getting into CRE sales when I graduate as I already have something lined up at a good firm but this guys recommendation make a lot of sense. What do you guys think?
