Hello everyone,
Wanted to come to this forum for expert insight and wisdom from across the industry. Currently an analyst at a regional-dominant brokerage firm with +10 offices nationally. I love being on the brokerage side, but it is my long-term goal to move into either a REIT or REPE firm (REPE is ultimate goal). I have seen in other discussions that these are actually pretty solid exit-ops for people formerly on my side of the business, but it is slightly more difficult than moving on from REIB, AM, etc. I wanted to see if you all had any recommendations for things I could and should be doing right now to best market myself as a candidate to move into this side of the industry. Essentially, I am looking for specific certifications, networking tips, skills (i.e. financial modeling, underwriting, etc.), books, and anything that could be beneficial to enhancing my position when it comes time to interview and pursue roles. Open to any and all advice! Thanks.
I don't know anyone who has tried this personally but feel it would be really hard to swing. I interned for a little less than a year at two investment banks that focused on real estate, hospitality, and gaming, and recently transitioned to a brokerage internship on the CRE side of things, and the work isn't remotely similar in my eyes (besides the fact that it's deal-based work).
I think if you're trying to make the swing, certifications (CCIM https://www.nar.realtor/education/designations-and-certifications) might beef up your resume a bit, but you'd likely need to get some real experience in IB or some other modeling / pitch deck heavy type of work. Especially with REPE being more modeling intensive and analytical. Another strategy that I could see would be really stressing your skills on the operational side of things and knowing how the Property Management and Cap Markets side of things work. Aka bring value in ways that investment bankers might not have.
Just my impression. Overall I'm still very inexperienced so take it with a grain of salt.
It depends what type of brokerage you are doing. If you're doing Investment Sales or Debt/equity placement, it should be a relatively easy transition. Maybe not the Megafunds if you're at a regional shop but you should be able to get some looks at smaller funds. Leasing, or any other type of brokerage would require a midway step, such as getting an MSRE, in order to switch.
Thanks for this. Any other midway steps besides a MSRE you think could give an added boost?
MSRE would probably be the easiest way to transition. Real estate doesn't really have industry standards for certifications, so you may just be wasting your time with some of them. Same goes for real estate finance courses. REFM is probably the most well known, however even that I don't think would even give much of an edge. Obviously networking would be the name of the game, just try to get on the phone with as many people as possible and ask for their advice. Realistically speaking however I do think your lack of analytical experience would hold you back, as there's probably tons of people in the market right now that would be ready to work and come from a more analytical background.
If you are actually doing leasing. You can try transitioning to an Investment sales team within your firm. Moves like I would qualify as midway as well.
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