How to break into a CRE brokerage

Muhammad-Ali12's picture
Rank: Monkey | 54

Hi! I'm currently a university student studying finance & accounting. I'm highly interested in joining a CRE brokerage but having a hard time finding a senior broker to take me on. I wanted to get the opinion of any CRE brokers out there on how to break-in.
The following are options that I think would increase my chances:
A) Pay a small amount to the broker ($1K) to show how serious I am
B) Cold call CRE brokers every day
C) Start as a residential realtor

I don't want to go into residential but if it needs to be then I'm up for it.

Comments (10)

Most Helpful
  • Analyst 2 in RE - Comm
Feb 5, 2020

Jesus Christ I hope #1 is a joke. #3 is a joke in its own right, so #2 is your best option and a good one. Maybe not phone call because if they pick up and realize who they're talking to, you could be wasting their time and they may get upset.

Best bet is to email / LinkedIn chat several brokers you want to reach out to and then carry that to a phone call and eventually in person meet.

    • 9
Feb 5, 2020

Thanks for the reply
I can see why options 1 & 3 make look like a joke as i am not familiar with the industry yet.
In your best opinion, the only option I got is to email & use Linkedin as the other mediums don't work as well?

  • Analyst 2 in RE - Comm
Feb 6, 2020

You can call them too if you want, I'm just not sure how effective that will be since I've never done that.

Also join some industry groups like ULI, NAIOP, YREP and you'll meet other people in the industry like brokers and analysts and can network with them.

Feb 6, 2020

Seems silly, but if you are struggling, you could work for grubhub delivery during lunches on weekdays and deliver directly to brokers and owners. Keep your resume on you and have your elevator pitch down. Brokerages love folks with hustle and gumption

Feb 6, 2020

Yeah steer clear of #1, that could be construed as offensive. Kind of like offering someone a dollar to talk to you, just weird.

Broker hires are 100% about personal relationships with senior brokers. Cold call and cold email them to ask for a meeting to learn more about their business. Do not overtly express you want a job, frame it as more of an informational inquiry. You can generally be more aggressive/persistent with brokers than other real estate types, they usually appreciate the effort given that hustle is a critical part of that line of work.

    • 4
Feb 6, 2020

a) absolutely not.

b) email/linkedin then try and schedule calls or informal informational meetings . As a student you have an advantage that you should capitalize on as much as possible while you can. Just express interest in learning more about a career in the industry and most people will be very open to meeting with you.

c) absolutely not. If CRE is your goal, residential brokerage will do absolutely nothing to help you get there. If you ever did want to consider residential brokerage you can literally go try that at any point in your life, there are almost no barriers to entry. CRE doesn't work that way...the earlier you get in, the better.

NOTE: Make sure you understand that all CRE is not the same. There are different product types and different types of firms. Most brokers specialize in one area. Some firms only work on certain assets, other firms work all product types with internal teams that specialize. Start learning about the different assets and the different firms that operate in your desired market. This is a very easy way to convey that you are serious when talking with people and it will help you ask better questions when you do meet with people.

    • 4
Feb 6, 2020

NGL I had a solid laugh reading this.

    • 1
Feb 7, 2020

You're a student. Get an internship. Offer to do it for free if you so desire

    • 1
Feb 7, 2020
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