Looking to learn commercial real estate syndication

[Account Closed]

Hello everyone, 

I am looking to make a career change and become a commercial real estate broker in Chicago. (A good friend told me that I should go into commercial real estate and he would send his HNW clients (10+million to me). He wants me to learn to syndicate commercial real estate deals.   

What Is the best course of action in your opinion, get a CRE or a CCIM designation? or both? If so which first? Is an MBA necessary? What other qualifications do you think may be useful? What kind of company should I work in/for to get the right kind of experience? Would I need to create my own commercial real estate brokerage firm or real estate investment firm? What other advice would you give someone in my situation?

Thank you in advance for all your advice. 

[Bryan Hancock]

Commercial brokerage and commercial syndication are two wildly different businesses.  The CCIM designation is a good one, but is more broker-centric.  There are schools that focus on master's degrees in real estate.  Those would be better training than a MBA would be, but either designation would be helpful.

The best way to learn is by being an apprentice for someone with experience.  You'll learn a lot more about how things work in the real world doing things this way than you will going to school.  It would obviously be better if you can do both.  

Individuals with a net worth in excess of $10M may not be the best source of funding for your projects.  They're less likely to need your services.  Syndicators often source capital from investors in the $1M - $5M net worth range.