hi guys, I need some advice on a career move. I recently graduated undergrad from a top RE program a year ago. I’ve been working as a appraiser at a top brokerage shop on a very busy production team. My goal is to break into acquisitions/ REPE. I recently got a opportunity to work in commercial Property Tax appeal for Deloitte. Will working in commercial real estate property tax for a big 4 firm help me more in achieving my goal of REPE( real estate private equity? Or am I better of as a appraiser?
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I would flat out guess no. The only firms I deal with are lawyers who handle property tax appeal. My only caveat, is I'm not sure, and only because I didn't know this was a thing Deloitte did.
all the big 4 do, it’s a very niche and small practice however.
That is a very good spot to transition to the principal side, I know several people who went from appraisal into RE investment mgmt, REPE, and development. Really, it is a very underrated career path (at least on WSO), and you can learn a ton and actually network very well.
The Deloitte gig is a probably a fine job, but I can't imagine it would be better. Plus, if your 'top brokerage shop' does IS or capital markets (debt/equity placement), you could even get hired internally to those teams. One of the top MF brokers at a CBRE/JLL/CW place hired his last 'junior broker' from the appraisal side of his firm; it was a very sought after postition.
All in all, I can't see why you want to make the switch. I'm guessing some in the big 4 would want to swap with you in some cases.
spot on.
Do you even know what this group at Deloitte does?
I'm assuming they do ad valorem tax appeals, it's a pretty niche business. Ryan is firm I always think of that does this nationwide. Not surprised a big 4 would do it, I'm sure they have their tax advisors try and cross sell the service. In a lot of jurisdictions, practically anyone can represent a property owner in a tax appeal at the first level, but it's usually appraisers and CPAs who choose to specialize in it. Some RE brokers do as well.
If you don't like the value after the adjustment board or whatever makes it call, usually then need lawyers and litigation to go any farther.
that's exactly what they do. it's a very nice business like you said. Ryan is more well known but a lot of the big 4 are getting more involved. but do you think the prestige of working at a big 4 firm will make me more attractive to REPE shops ?
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