CRE Brokerage Advice

[Jeffrey Drew Hansen]

I have 3 years of post undergrad experience at an equities investment company, I recently finished my MBA from a top university and I am looking to become a commercial real estate broker in the Chicago area.

I would love some advice on A.) breaking into the industry and B.) what are some of the benefits/drawbacks of different specializations.

Any other advice that comes to mind would be greatly appreciated as well!

[Nathan Platter]

Hi Jeffrey,

Congratulations on completing your formal education.

A) No one is going to mentor you for free. It's hard to hear, but in order to work for the best, you'll need to sell yourself to the highest ranked folks you want to within underneath. even though you're well educated and highly qualified, REI looks more at work experience and "what deals have you done" more than anything. It may feel inferior, but offer to do all the grunt work you the top person in your area. Gain experience and credibility, and you'll be able to go solo in 1-2 years after doing 10+ deals.

B) Consider going to a doctor. The "Generalist" is great if you need a quick, basic checkup at the lowest price. Any specialist (Dermatologist, Pediatrician,...) always charges more and can call more of the shots. 

If you're asking why Apartments are better than Retail Centers, or Land Development, or Ag, you'll find opinions advocating each of them. At the end of the day, pick one (I personally like Multifamily Apartments) and get get obsessed about your self-chosen specialty.

You'll do great!