Real Estate Private Equity- Real Estate licensing??
Hello,
I was wondering if anyone knew whether or not a real estate sales or broker's license would be beneficial for a person looking to pursue a career in Real Estate Private Equity?
Thanks
Na makes no difference
thinking out loud here: does having a license matter at all in commercial real estate? As far as making fees from brokering sales and leases? As far as I can tell, commercial real estate is the wild west
Its state by state but generally you need a real estate license to broker sales and leases for third party's (either tenant or landlord rep). You do not need one if you are employed by the landlord (ie in house leasing) atleast in NY and Florida.
As for the OP, the answer is no. Just having a license will do nothing for you if you want to get into real estate private equity shops. The relative ease of passing the test is a joke, basic requirements include being able to fog a mirror.
I have my broker's license. Unless you are working in leasing/investment sales, it really is quite useless. I would think that a salesperson/broker's license is the last thing on a REPE shop's radar.
As others said, it is useless unless you are a broker working as a 3rd party. If you work for a buyer or seller (investment firm), you don't need it for anything including leasing, acquisitions, or dispositions.
Ha - any chance Lone Star opens a West Coast office sometime soon? I guess I could apply for their Bermuda office instead
No benefit. Don't waste your time
You wont use it on the job, but it cant hurt you. I've kept mine active since undergrad and its been great way to make extra cash, create conversation, show that you’re an entrepreneur who knows how to make an extra $20k in addition to a "day job"
A series XYZ test is sometimes beneficial if you're on the research side of a REPE firm, my MD had to get his, but other than that, you won't be brokering any deals at a REPE firm, even if you're on the aquisitions team. Rather you'd be underwriting, etc.
I've been a licensed broker since 2001 in SoCal. I'm interviewing here and there with some institutions. No, nobody cares about the license. I will say this. I have no doubt that if I go work for a firm, I will still have a few side deals a year that a client wants me to put together.
Having a license, specifically a brokers gives you a lot of flexibility. In Ca, if you have a 4yr degree you meet the all the education and experience requirements for a broker license. You can go straight to applying for a test date, which I wouldn't do. The salespersons exam is a two day crash course away from passing. The broker exam is a bit more involved and requires preparation. It's not extremely hard but you don't want to apply for a test date until you can get a 90% on 400 sample questions. If memory serves me this gets you to a passing grade of 75% on the 250 question exam at the BRE office.
Voluptates quo repellat quasi et aperiam ut occaecati libero. Totam est sint quod est veniam eligendi. Voluptas omnis fugit consequatur illo totam et. Sapiente nihil ipsa et.
Officia qui dolore soluta aut nulla. Possimus laboriosam quaerat aut rerum molestiae. At veniam et deserunt commodi. Soluta cum dignissimos minima distinctio est debitis.
Illum provident itaque minus voluptas optio est id. Aut sit ullam sunt eaque. Non error perferendis incidunt qui rem. Mollitia quas illum aut est et id nihil. Vel tempore et ab incidunt vero.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...