Those at Eastdil, top teams at CBRE, JLL, Newmark - why these teams vs say a top owner/developer? Why Eastdil, CBRE, etc?
Hey guys,
Curious why these firms vs top owner/developers? If you're working at Eastdil or top teams at these shops you can probably go anywhere. Why did you choose these groups over other options? Is this because of the variety and scale of dealflow, connections you would make?
1) brokerage is typically an easier place to break in or get an entry level role, and a great place to learn, so its usually seen as a logical first step before moving to an owner/developer.
2) brokerage is also a better job in many ways, so many people are happy to stay there or go back to it after spending time at an owner/developer and seeing all the tedious/annoying bullshit you have to do when actually owning an asset and dealing with tenants and investors instead of just cranking through deals and walking away once the transaction closes.
It's "easier" to work at a top owner/developer after working at a top brokerage team, not before! So, many start at a place like Eastdil because they hire direct from UG, many top owner/developers don't or rarely do (like if you are kid of a partner they do....). So start at a place like Eastdil then "go buyside" as they say.
Of course, some prefer "sellside" life, and frankly, it can pay much better faster if you are good at it (this will not be the case for most at those firm, but is true for some).
Got it, I’m looking at some of these groups and wanted to hone my answer for why besides some of the typical answers so trying to get some ideas for interview quality responses. I have a clear response ready but want to make sure it’s really thought through since I’m coming from a non target background with some experience.
If you're social and love the grind, brokerage is in many ways a better gig than acquisitions/development. Also a great place to get exposure to different product types, geographies, deal types right after college.
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