Valuation & Advisory Analyst exit opps? (CBRE, JLL, CW)

Hello Monkeys,

I've read several threads on this topic from 17' & 18', but wanted to pose the question again as it seems this community has grown quite a bit since then.

Backstory: I have an offer to join the appraisal group at a major brokerage (CBRE, JLL, CW) in a non-major market. My long term goals would be to work in debt/equity placement OR acquisitions (ideally REPE) in a major market.

Curious if you've seen either of these exits made from this role or one similar.

Thank you all in advance!

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Comments (12)

Aug 5, 2021 - 6:32pm

I just recently started as an analyst in d/e in one of the firms you mentioned. I do know personally one of the other analysts, however on the investment sales side came from an appraisal group(not brokerage shop) and he gained a ton of experience from that. Similar to you, he wanted to transition out of that role the moment going into it. I don't think its a bad way to start and your skills are transferable.

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Aug 6, 2021 - 12:30pm

I started as a V&A Analyst at one of the large brokerages.  Like some of other responses mentioned, I knew going into it I didn't want to be an appraiser. I would take the job for someone coming of UG.  However there's a few things I would keep in mind, biggest factor is ARGUS exposure/reps. Make sure the team your join as an analyst gives you heavy reps in ARGUS, this is how you will become valuable for an acquisitions role. Go in with a plan to churn out ARGUS runs, tons of DCFs.  Transferring internally is what I did after 1.5 years in Valuation to the D&E side. Also the pay for analysts in Valuation is not as good as IS or D&E Analysts so don't get discouraged.

Aug 6, 2021 - 12:37pm

Thanks. This is super helpful. For further context, I'm 3 yrs out of undergrad in a somewhat unrelated field. The pay outlined in the V&A offer definitely isn't great. However, I can't be too picky given that I'm making a transition and don't have experience.

Can I PM you re: how you transitioned from V&A to D&E?

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Oct 12, 2021 - 3:10pm

For a major CRE firm, the base salary may be relatively low, however, even in a non-major market (depending on your compensation structure), your commissions add up quickly while you're generating appraisals. By the end of your first year, if all goes well, you could be potentially touching close to six figures. 

Aug 6, 2021 - 1:01pm

I did valuations for a year and a half and joined an institutional "REPE" shop afterwards as a generalist type of analyst. A lot of my other colleagues jumped to other similar shops as well.

I got a lot of interviews from d/e and investment sales as well, but wanted to go to the buy side. So you should have no problem getting those interviews if you play your cards right. Only downside is you will lack a little knowledge about the debt side, but that will come.

V&A can be one of the best places to learn how to read a cash flow, and I would emphasize that. Its also probably one of the best places to get AE experience.

Oct 12, 2021 - 3:06pm

I'm currently a V&A analyst at one of the firms you mentioned. Exit opps are fantastic if you want to pursue REPE or REIS opportunities since you develop a solid transferable skill set. The name/brand recognition doesn't hurt either considering REPE shops love seeing JLL, CB and C&W on resumes. 

Oct 13, 2021 - 2:16am

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