Switching to loan originations/investment sales
Would love to get some advice on making this move. I've worked about 2.5 years in SBL and conventional agency underwriting at a berkadia/lument/W&D type firm and have been working the past few months in a multifamily valuations role at a tier 1 firm. I don't regret switching to valuations since it has been extremely beneficial to my underwriting skills and good exposure to some non agency stuff. However, I'm already not sure I want to do this forever. I'm already writing my own reports and modeling the proformas and already getting a bit bored. I'm also getting older, 27 now, and want to try getting into production before it's too late. I'm not planning on jumping ship anytime soon, I want to hit at least 1 year in this role, or even get my CG license first, but until then, want to start preparing myself for an originations/IS type role (possibly within this same company if I can). With my background at this point, I feel like I have very good underwriting skills, have a great sense of how both agency underwriters and appraisers look at deals, and the cycle of agency deals from app signing to close (I've closed a lot). With my background I feel like I would be a good asset to a production role. Those of you in those roles or have made a similar move, what can I do to start preparing myself? Would I be an ideal candidate if you were flipping through resumes? Would I start at least as an associate or senior analyst level (or higher)? Anything else? I greatly appreciate your time - thank you.
edit - also would be interested in D&E capital markets roles.
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I think your experience would transition very well to a production role. You have a lot of skills that are necessary to being successful in production. I would say make the jump sooner than later. Lots of production roles are eat what you kill (commission only) so why wait around. Getting certified in appraisal takes time, especially the courses, exams, hours. If production is what you want get your RE license and jump in. I had a similar background (Appraisal and UW) and it worked well for me to make the transition.
I think making this transition from an underwriting analyst and appraiser role to a production role is going to require a compelling story and a demonstration of your communication abilities and willingness to work differently than before. I would pitch your path as establishing an analytical foundation to deliver value to clients. The best best is to aim for a senior analyst level type role and then work your way up to origination/sales which requires a different skill set as I’ve already mentioned. It will be tough to jump right into these types of roles especially in todays market with lower inventory (IS) and higher rates (Loans). Either way, many groups expect the market to shift back to a more normal environment and are staffing up in anticipation of that. Be prepared to answer why IS or why Loan Production in a compelling way and demonstrate a balance between analytics and being social.
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