Hey guys -
As you all well know. Saying your in Real Estate can be annoying. Im very proud of being in the industry and future potential and all that. But when you say RE or CRE they just think I sell houses or when I explain I’m in Capital markets and do debt & equity the conversation either gets very convoluted or they think I work at a regional bank doing loans on houses.
Whether it’s Capital Markets/ Originations or something else how do you go about explaining what you do? I’ve found that saying too little makes people think I work at a local brokerage and saying too much makes them think I’m an investment banker.
Depends on who your audience is (obvious). If you're speaking to someone who is financially literate you can probably explain a bit more in depth what you do. If its someone that doesn't know as much then just a sentence or two is probably fine.
Also need to remember a lot of people may not even care or remember anyway.
I mean you’re a commercial real estate broker.. not much more to it. Just say you help owners find money
If it is people who understand the general scope of finance you can go into more detail.
If it is people who don't understand the first thing of finance you can tell them you are in commercial real estate investment and leave it at that. They won't understand any of the details anyway, nor do they really care.
I just say I’m a real estate developer; simple enough.
Somebody did a post like this awhile back, but vented hard on the being assumed to be a Realtor thing..... should try and find it, the responses were golden!
Anyway, you have a few options (and I'd guess you can cycle these based on who asked and how much you want to impress, inform, or just blow them off)....
1. "I'm in Real Estate"... this is the best blow off question, as they don't want you to start asking if they want to buy or sell a house. Downside, some schmuck who wants to ask you "how's the market" or "can you tell me what my home is worth"... then you can unload some crazy technical answer, that should solve the problem.
2. "I'm in Commercial Real Estate"... this is the more impressive blow off question, they have little idea what you are doing, and the chance of follow up is low. Downside, they think you lease storefronts next to closed retail anchors... but hey, better than the home price questions.
3. "I'm in Real Estate Capital Markets"... honestly just say "Real Estate Investment Banking"... I mean go big or go home. Downside, someone actually knows better and laughs when you say "Cushman & Wakefield" instead of "Goldman Sachs".
4. "I arrange debt and equity for XYZ sized developments and acquisitions for leading investors and developers in real estate"... i.e, this is the elevator pitch answer, and isn't just a blow off, it's a FUCK YOU unless the recipient is in the industry, then it's just salesy. Downside, the role eyes and say "I'm sorry I asked" and you feel bad.
5. "I am an Analyst for Cushman & Wakefield Capital Markets" (correct as needed lol) this is just a straight up factual answer, and totally devoid of useful information unless the person is in the industry (in which case, this is the best answer). Downside, you can easily get a follow up "what does that mean?" and then you have to go back up to the elevator pitch one, but they asked so you can earn a gold star of politeness as they respond "I'm sorry I asked"....
My advice, try them all out, see what you like. I am way beyond giving a fuck about what people think, so I just say "I work in real estate development"... which is meaningless about what I do on a day to day basis or what our firm does. If someone cares, I'll engage, but easier to just get to the blow off point so can talk about something of actual mutual interest.
Final piece of advice, if you are single, and speaking with someone for potential romantic interest.. add the line "and I make a lot of money" (doesn't matter if you just got a job with an all in of $80k, just go with it)... then you can judge their reaction, if they roll eyes and turn away they are a keeper (meaning, just say "just kidding" and act normal") if they light up and start engaging even more... RUN don't WALK unless you like that stuff (note this final point is valid for men and women regardless of whom you are seeking, it's an equal opportunity world!)
tl;dr - just have fun and say what ever, it really does not matter!
This is solid and the Goldman Sachs point made me crack up lol
I think it was this thread
https://www.wallstreetoasis.com/forums/i-am-not-a-realtor
Yep that was it!
Development is easy, everyone understands that. Can always tell them what type of buildings you build.
If it's something else, just focus on the duties more than the role (i.e. acquisitions -> I buy commercial real estate properties as investments).
Who gives a shit if someone thinks your a realtor? People in CRE seem to be offended when something think they buy and sell homes, like the job is below them or something.
That’s not the point. The point is it’s not what we do. The same thing as if someone thought an investment banker was a local small business and personal loan lender. Or a car detailer was a car salesman. You can argue one is better than the other and vice versa but there’s a difference between a random job and your job.
At the end of the day people know what the examples I mentioned are and relatively know the difference. CRE has a lack of education to the general public. I think it can be fruitful to be able to explain what you do vs people thing I do something totally different.
But why does it matter so much? Is your self worth / perceived self worth so tied up in your job title and the type of numbers you put into your excel spreadsheet?
Do you want the general public to be more educated so that you can stroke your ego when you mention you work in real estate and their first reaction is oh wow, you're so successful!
Know some realtors in AZ/TX/FL/CA/GA/NC making a hell of a lot more than probably most of us monkeys this year doing 1/4 of the work...
I don’t doubt it
I make loans so someone can buy an apartment building or office building.
I just say I work in real estate finance or I am a developer. Both work.
Comes with practice. I learned how to distill my function to a range of people.
With people I casually meet in a quick conversation, I usually make it very basic with regular words: e.g. sell/buy or create mortgages for large buildings in XYZ major cities. If they don't get it or think I sell homes, I don't care. I enjoy my job and life, which is all that matters, so who cares what they think.
With people I actually have to explain it to, I warn them it will be a painful explanation for them.
Research Analyst in LO AM and simply just say I “work in Finance”. sometimes I may say “I’m an investor” but this is more on the rare side. When I was interning in the ABS team I use to say I was a “I invest in mortgages” and I felt like this got a few amazed looks hahaa
You don't?
Touché
Investment Manager at a Developer/Investor here and this basically sums up my interactions;
My grandparents think I sell houses.
My parents think I'm some sort of accountant who plays around on excel all day (they are not too far wrong in fairness to them).
My girlfriend thinks I'm sort of office admin putting documents and presentations together.
My friends think I work for a construction company and probably think of me as some sort of foreman or something.
Truth is, if they don't work in the industry I couldn't give a toss what they think I do! I just go along with it until they mistake me for an economist..."No Tom, I can't tell you when the next crash is coming".
I'm in a similar role and often get the same interpretations too when I try to explain to people what I do. I laugh it off, just cause I know it can be really complicated specifically what I work on and what purpose my role serves.
Reminds me when I used to work for a GC I would tell people I'm in construction. Some thought it meant I was like a carpenter or laying brick. If I said I worked for a GC they would assume I meant like a SFH contractor and ask me about how to build a porch. The only way people actually understood what I did is by saying I build office buildings.
Haha same same. I could rant on about labour prices or rising timber costs and all the other economic activity behind it..."How to build the thing? - Haven't got a clue mate sorry"
Why is your perceived self worth tied to what people think you do?
I work in real estate
Oh so you sell houses?
No I invest / sell commercial assets or multifamily
And we all move on with our day, with egos neither dented or inflated....
Buy low
Sell high
Something something about risk
FOMO - BUY HIGH
SCARED SHITLESS - SELL LOW
I make car parts for the American working man, because that's what I am, and that's who I care about.
I put apartment buildings in neighborhoods where they are not wanted and then convince the city to jack up property taxes in order to remove current residents.
"I build apartments."
"Oh so you're a contractor?"
"No."
*awkward silence*
Lol, I've had those interactions, too. But that's why you say "no, I'm the guy who hires the contractor".
"so you build the buildings?" No we hire someone for that
"so you lease the buildings" No we have a leasing team for that
"so you manage the buildings" No we hire property management for that
"Okay then you sell the buildings?" No we hire brokers for that
When I was on the equity side I literally told someone at a party "we move money around"
The women FLOCKED I tell you. FLOCKED.
Analyst at a debt brokerage. Usually on first dates I just say "I find money from rich people to give it to other rich people to buy more houses". It gets a laugh and moves the conversation forward. Nobody likes talking about work all the time.
My go to as well. "I make rich people richer" and leave it there
I've been saying - I work for an investment company. That solved these annoying situations for me over all these years.
You either will be left with 2 scenarios:
1. Those who don't give a shit about you (most people), will leave you alone and assume you're some finance person (true)
2. Those who give a shit about you will inquire further, then you can open up the conversation (I work in CRE Development, PE, CRE Brokerage) what have you. You'll typically head down the path of talking with smart, inquisitive people who don't associate you to their fucking house if they're more curious about what you do.
I find this route to work for all crowds. Randos at my club on the weekend, girls on dates, girls at bars, homeless men on the street....It weeds out the idiots and save you time.
Just say you invest in real estate. Sounds sexy and is accurate.
If they ask further, just say you work for a firm that invests in real estate.
That simple.
I'm a realtor for developers, landowners, businesses, and investment companies. Simple enough that most people can understand without sounding pretentious.
I actually like explaining what my job´s about I currently work as a Business Developer and Project Manager/Analyst for a small RE consulting firm called Landesa in Monterrey, Mexico but I´m originally from Ciudad Victoria 300km to the south which´s a smaller city (imagine Odessa, TX but without oil and high school football and being the state capital for better and worse) and RE industry there is mostly focused to single-family residential (A/B+ segment being gated communities), industrial being a few maquiladoras in town; commercial it´s 60% local businesses and 40% national or international companies, and office being 99% the state and local governments (worst tenants possible) and every time I visit my hometown it takes ages to explain to many friends & family (even to some who work in the construction industry) what my job´s about
Now I´m also starting in an Institutional Sales job with Vector Casa de Bolsa a major national investment firm (after I lost what could be my only chance in JLL) and those who know what´s this about its not only sales but also its part investor relations and it´s being a headache explaining that to my friends who stayed or returned there what this job is also about
My younger kids think I still drive the bucket truck
My wife knows that I do something with power plants
My friends have no idea
I'm in M&E
I work for a somewhat recognizable name in NYC (in the papers quite a bit), so I usually just keep it simple and say "I work in the real estate group of _____." Too lazy to give more details about what I do until they ask more, and based off the firm name (e.g. Related) they know I'm not a realtor.
Here’s how every convo goes for me: I say financial analyst at a commercial real estate company. Then my husband says he’s a financial planner. Then the other person says “maybe you should work with him!” implying that I am an accountant. I politely roll my eyes and mention that our jobs are very different. Every. Single. Time.
Get a real job in banking
I tell people with many more years of experience than me how to fix problems that don't need fixing and charge them obscene amounts to do it.
I just tell people I play monopoly for a living. Buy land or buildings, spend money to make them better, then either charge people for staying there or sell them. Plus, the types of deals we do, the amount of money might as well be made up anyway it has so many 0's at the end of it.
say less analyst
People just ask me for stock tips not realizing I work on private companies, usually.
Most people don’t know shit about finance so I just say “I work for GS/BX/whatever” and nothing else.
its like an HGTV show expect we use other peoples money and renovate big ass buildings
Make money, Fuck bitches.
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