Background- non-target undergrad to commercial CA at a large regional bank; have been in this role for a year and half now.
Just finished a 4 month interview process for two smaller REPE firms in a smaller Midwest metro. Just received emails yesterday and today notifying me that I didn't get the position. Both firms noted I did "great" in interviews and on the technical tests but they hired someone else with "more real estate experience"...
Any advice on gaining experience that a REPE firm will actually look at as valuable? Is my best bet to find a RE position somewhere else and then try to make the jump again in a year? Getting frustrated at this point with having the knowledge, but not the resume criteria of "real estate".
Thanks in advance everyone
Why not try to move internally to the commercial real estate lending arm? Or do the same externally?
that was my initial thought, but our CRE group is consistently slow on deal flow...the bank has been RE averse post-2008. With that being a below average segment here, better to just job hop..?
It might be easier to externally switch to another lender’s real estate arm. Obviously this adds some waiting time to your eventual goal of REPE, but I think it makes sense if you’re committed.
Like one of the other posters mentioned, there’s still a lot you don’t know about commercial real estate until you start working in the field. However, I still think you could go straight to the principal side if you meet the right person (I know someone who’s made the switch you’re going for). It’s just not going to be a premier firm or anything
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