urgent RE career advice

hi guys, I need some advice on a career move. I recently graduated undergrad from a top RE program a year ago. I’ve been working as a appraiser at a top brokerage shop on a very busy production team. My goal is to break into acquisitions/ REPE. I recently got a opportunity to work in commercial Property Tax appeal for Deloitte. Will working in commercial real estate property tax for a big 4 firm help me more in achieving my goal of REPE( real estate private equity? Or am I better of as a appraiser?

 
Most Helpful
rd122596:
I’ve been working as a appraiser at a top brokerage shop on a very busy production team

That is a very good spot to transition to the principal side, I know several people who went from appraisal into RE investment mgmt, REPE, and development. Really, it is a very underrated career path (at least on WSO), and you can learn a ton and actually network very well.

The Deloitte gig is a probably a fine job, but I can't imagine it would be better. Plus, if your 'top brokerage shop' does IS or capital markets (debt/equity placement), you could even get hired internally to those teams. One of the top MF brokers at a CBRE/JLL/CW place hired his last 'junior broker' from the appraisal side of his firm; it was a very sought after postition.

All in all, I can't see why you want to make the switch. I'm guessing some in the big 4 would want to swap with you in some cases.

 

I'm assuming they do ad valorem tax appeals, it's a pretty niche business. Ryan is firm I always think of that does this nationwide. Not surprised a big 4 would do it, I'm sure they have their tax advisors try and cross sell the service. In a lot of jurisdictions, practically anyone can represent a property owner in a tax appeal at the first level, but it's usually appraisers and CPAs who choose to specialize in it. Some RE brokers do as well.

If you don't like the value after the adjustment board or whatever makes it call, usually then need lawyers and litigation to go any farther.

 

that's exactly what they do. it's a very nice business like you said. Ryan is more well known but a lot of the big 4 are getting more involved. but do you think the prestige of working at a big 4 firm will make me more attractive to REPE shops ?

 
rd122596:

do you think the prestige of working at a big 4 firm will make me more attractive to REPE shops ?

So, I'm not sure what firm you work for, but simple getting a big 4 accounting name on your resume is likely to excite anyone, let alone REPE. REPE and development shops look for people with relevant experience and skills, period. The don't hire from BB REIB because 'ooh cool name', they do so because the transactional experience in IB is what they want you to know to do deals on their teams. As an appraiser, you hopefully can prove out your market analysis and valuation skills, also critical to principal investing businesses. Plus, you can network and build connections with players. This isn't to say transitioning is easy or automatic, but it is very doable. If you want to get to some big name shop, I'd recommend a grad degree at some point.
 

Dignissimos maiores unde ut voluptatem aliquam quos ab consequatur. In repellat esse enim ex cupiditate quaerat sit. Quidem rerum vel eveniet fugit rerum amet. Totam et facere dolorem blanditiis architecto minima. Hic consequatur sint magni illo porro sapiente nesciunt explicabo.

Harum magni nemo blanditiis. Asperiores praesentium ducimus iusto vel aut ullam at.

Career Advancement Opportunities

March 2024 Investment Banking

  • Jefferies & Company 02 99.4%
  • Goldman Sachs 19 98.8%
  • Harris Williams & Co. (++) 98.3%
  • Lazard Freres 02 97.7%
  • JPMorgan Chase 03 97.1%

Overall Employee Satisfaction

March 2024 Investment Banking

  • Harris Williams & Co. 18 99.4%
  • JPMorgan Chase 10 98.8%
  • Lazard Freres 05 98.3%
  • Morgan Stanley 07 97.7%
  • William Blair 03 97.1%

Professional Growth Opportunities

March 2024 Investment Banking

  • Lazard Freres 01 99.4%
  • Jefferies & Company 02 98.8%
  • Goldman Sachs 17 98.3%
  • Moelis & Company 07 97.7%
  • JPMorgan Chase 05 97.1%

Total Avg Compensation

March 2024 Investment Banking

  • Director/MD (5) $648
  • Vice President (19) $385
  • Associates (86) $261
  • 3rd+ Year Analyst (13) $181
  • Intern/Summer Associate (33) $170
  • 2nd Year Analyst (66) $168
  • 1st Year Analyst (202) $159
  • Intern/Summer Analyst (144) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
Secyh62's picture
Secyh62
99.0
3
Betsy Massar's picture
Betsy Massar
99.0
4
BankonBanking's picture
BankonBanking
99.0
5
kanon's picture
kanon
98.9
6
CompBanker's picture
CompBanker
98.9
7
dosk17's picture
dosk17
98.9
8
DrApeman's picture
DrApeman
98.9
9
GameTheory's picture
GameTheory
98.9
10
bolo up's picture
bolo up
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”