Real Estate Investment Banking Coverage?
I have an interview lined up for IB real estate brokerage team at a big local bank.
It'll be my first ever IB interview and I dont know what to expect. However, I do know BIWS 400 are must knows, but thats all.
To get ready for real estate industry specific technical questions, Im willing to spend up to $500 on WSP/BIWS/other real estate courses, if its worth.
I really need help on how I should prep for the interviews, what to expect, and how it differs from other IB interviews, since it's a specialized industry.
Cheers
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I think you may have your terminology wrong. I don’t know of a bank that has brokerage. I think you may be working at JLL or something similar and they are calling it “investment banking” which is brokerage.
In that case, study property level real estate terminology/ metrics, what happens from start to close in a transaction, and local / national market trends (ie be able to tell a story about what’s going on with an asset class)
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That’s not investment banking, what you’re experiencing is firms that want to pitch themselves as more important than they are and lean on confusing terminology in order to sound impressive.
Ignoring literal, textbook definitions for a moment investment banking typically implies corporate M&A and capital advisory services.
There’s a very clear way to avoid such a gray area in terminology that most have adopted at this point wherein when referring to asset level services (as opposed to corporate) you are labeled either brokerage, investment sales, or debt/equity brokerage. You can probably guess these groups are just acting as a middle man and marketing your real estate for sale or reaching out to their network to raise equity or debt for your joint venture.
Not op but Ik as a fact scotiabank, bmo, and rbc have real estate brokerage teams in the ib department through friends/networking
If it’s actually investment banking but just real estate coverage (REGAL) you’re better off asking the IB forum since those interviews are way more like IB than RE
Well they said pretty much the same thing, but about the RE forum.
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