If I wanted an analyst position at firms like CBRE/JLL etc., are there any pros to obtaining a license even though the job postings say it's not necessary? Just curious cause some also say "preferred". Curious to hear yalls experience with this.
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Get the job and get your license while you're an analyst. All of those analyst jobs push you towards brokerage (whether or not you realize it) and part of the transition would be obtaining a license. I think they say preferred because it expresses interest in real estate and brokerage.
Thanks, yeah that is actually what I would have done if I got an analyst job without a license already. I currently don't really have time for one as I am already doing the BIWS RE course then plan on doing the ARGUS cert. so I don't really have time for the salesperson license on top of all of that.
Deleted, realized this was covered below already.
it means people with industry experience preferred.
Don't get your license if you don't have experience, it could show you have initiative but they are giving preference to people with brokerage experience.
The test is a joke. I remember taking it and pausing to look around the room when I thought the questions were too easy and thinking they were all trick questions. I saw 85% housewives who take this exam. I was the 2nd person to finish the test in 45 min.
Alright, I'll hold off then. On top of actually needing to learn these things, I'm actually trying to show initiative already through acquiring an ARGUS certification and BIWS certification (although I don't think the BIWS cert matters much at all). And oh yeah, definitely already assumed the test was a joke lol.
Argus can help. BIWS can help when and if they give you a modeling test, but probably not doo much on your resume.
Anyone else think the Argus cert is a waste of time? Most guys at solid RE Funds don't have them. You'll have to show off your Argus skills during an interview... either you have the skills or you don't.
My thinking is if someone is transitioning into real estate without a lot of experience, it shows initiative, but naturally actual experience with it will go further.
It probably is. But I'm coming from a non-target school with a relatively low GPA (3-3.1) and a non-finance major (Computer information systems). I'm mainly getting the BIWS and ARGUS certs because I want to show initiative and dedication to CRE, and I need to learn how to do it anyway so why not.
ULI has a proforma modeling class that I'd highly recommend in lieu of Argus. Argus is something that is only worth getting experience in if you've already built a solid understanding of how to underwrite real estate. You can learn where all the buttons are but unless you understand the underlying concepts, you'll be spinning your tires.
Pretty sure the BIWS course I'm in includes what the ULI course does. The ARGUS bundle is like a grand and comes with a bunch of study materials including the certification exam, ARGUS license, etc. I really wouldn't gain a solid understanding with the study material given? If not, how hard could it really be to learn how to underwrite?
If you're trying to be a broker, especially like a STNL broker, it could take you 15 minutes to learn to underwrite. However, if you're working for a REPE firm with extremely complicated deals, it could take you years to learn to underwrite.
I would 100% not recommend dropping $1,000 on the Argus Cert. Do you know anyone who has an Argus License that you could ask to visit them at their office and play around with the software a little?
Truthfully, most of the Argus runs that you deal with will already be premade by a Investment Sales broker at which point you sensitize the assumptions a little bit. I don't think its all too important for a new hire to know Argus. I think its just a soft skill preferred to weed out inexperienced hires and a proxy for those who have a tad bit of experience.
Not that I'm aware of. From my point of view $1000 is a small price to pay if it can help me land a job (and perform job well), even if by a little bit. I need all the help I can get coming from a background like mine. (non-target school, barely a 3.0+ gpa, non-finance degree)
much more important than argus is learning and understanding real estate fundamentals! if you can shoot the shit about micro and macro real estate fundamentals, valuation, the market, drivers on various asset classes, JV structures, etc. is more important than ARGUS!
watch youtube videos on ARGUS and excel modeling!! don't waste your funds on an argus class at this point.
With all due respect, I think you have a very limited mindset when it comes to your outlook on your ability to get a job (which I partially think is the mindset for recent hires and college graduates on WSO in general). Your "Non-Target School, Barely a 3.0+ GPA, and Non-Finance Degree" matters a lot less than you think it does in your prospects to get a decent entry-level job in real estate. Will you have more than a .0001% chance to land a job at Blackstone, Oaktree, Tishman, etc...nope. But if you are likable, halfway intelligent, persistent, and continue to turn over stones in the job search - You will find a solid job. Having worked with a "megafund" and I can tell you firsthand, a decent chunk of our JV partners have worse resumes than you. What they did know how to do well was make money.
As much as Real Estate is beginning to become more institutionalized and look more like high-finance roles like traditional PE, HF, or banking, it is still an extremely fragmented industry with opportunities for those that hustle, for those that are creative, and for those who are persistent.
TL;DR - I think you're truly doing yourself a disservice with this mindset of you being an unworthy candidate due to a 3.1 GPA and "Non-Target" School.
I think I gave the wrong impression because I agree with everything you said. I'm just trying to gain the necessary knowledge, and build my resume while doing so (certs). I feel as if having a certification in something that many employers "prefer" a candidate knows how to do will help get into an interview.
Gay. Leasing team doesn't count.
I would recommend you try to network a bit before spending 1k on something that will have a negligible impact.
Does your school have a real estate club? If so try attending one of their events and get to know some of the professionals that attend. If not then send some emails/phone calls to see if they'd meet with you for a coffee. Relationships are much more likely to land you a job.
No, you do not NEED one. But if you want any commissions at any point in your career I suggest you get one!
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