I'm an upcoming sophomore interested in pursuing IB, WM, or HF in the future. I am already doing a remote internship for an investment management boutique, but I recently received an opportunity to work at a top residential real estate brokerage (RE/MAX/Coldwell Banker/Century 21) this summer. Would this bring any translatable skills, or any kind of edge up in recruiting for next summer and beyond?
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No.
So should I just not take it altogether? Is there any way I could twist it to sound like meaningful experience?
No. Not even once. Unless by residential you at least mean something like MF analysis where you'd have some finance experience and all of that. But that's MF CRE, not residential. If you're talking houses and shit? You don't need a degree for that.....
I was in residential from 1995-2000. I was 18 when I started in resi...so no too far off from your age. In 2000, as a mortgage and real estate broker I began switching over to CRE. I can tell you that you will gain almost nothing from the 1-4 unit scene. The only skills you would obtain is possibly some general communication/sales skills.
As far as understanding real estate and cracking in to it with Resi as an entry point, it truly offers nothing.
Because of your age and desire I see no reason why you cannot contact your local CBRE, JLL, Cushman Wakefield, etc brokers and become an entry level runner for them. This is the exposure you need. Soon you'll be working direct with clients on small issues. Those small things become bigger things while in the mix with the right people.
I wouldn't even take it if your goal was commercial real estate, let alone banking
can we please make REMAX/Coldwell Banker/Century21 a more common thing around here? kinda like H/S/W McK/Bain/BCG GS/MS etc
I wanna make bank, bro. I wanna get ass, and I wanna drive a Range Rover.
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