Breaking into Commercial Real Estate: 4 Common Entry-Level Roles
The commercial real estate industry offers many entry points for newcomers, but choosing the right one can be overwhelming. Your first job in real estate will impact your career trajectory, so it’s important to be intentional in your choice. This video will walk you through four common entry-level roles in commercial real estate, their responsibilities, and what path might be the best fit for you.
1. CRE Sales Agent
- Role Overview: As a sales agent, your job will be to win listings, manage client relationships, and close deals. These positions are often commission-based and focused on sales training.
- What You’ll Do: You’ll focus on smaller properties, usually between $2 to $10 million, working with local owners. This role involves a heavy emphasis on sales and prospecting.
- Salary & Growth: While the income potential is limitless, expect to work without earning a salary for your first 12 to 18 months. Once you’re established, your earnings can skyrocket with commissions.
- When It’s Right for You: If you’re a natural salesperson, not interested in the analytics of real estate, and looking for a high-income potential role with no ceiling, this could be a great place to start.
2. CRE Analyst (Brokerage)
- Role Overview: As an analyst in brokerage, you’ll be supporting a team by working on large-scale commercial real estate deals, usually for major institutions or private equity firms.
- What You’ll Do: You’ll work on the sale, financing, and underwriting of high-value commercial assets. This role offers a great opportunity to learn the financial and analytical side of commercial real estate.
- Salary & Growth: These roles are known for their high earning potential after a few years, especially if you’re part of a high-producing team. While the hours can be long, you’ll learn the most in a short amount of time.
When It’s Right for You: If you’re interested in brokerage but also want to learn the analytics and underwriting process, this role will offer the experience and high earning potential that will set you up for future success.
3. CRE Analyst (Institutional Asset Management)
- Role Overview: For those wanting to get into private equity or institutional asset management, starting on the principal side of the business is the way to go.
- What You’ll Do: You’ll work on acquisitions and asset management for large institutions, managing assets worth millions of dollars, and contributing to high-value deals.
- Salary & Growth: These roles come with high salaries and significant long-term growth potential, as they offer exposure to some of the largest real estate transactions in the industry.
When It’s Right for You: If your goal is to become a senior leader, such as a CIO or CEO at a major institution, this is a great starting point to build experience and work on high-profile deals.
4. Acquisitions/Asset Management Analyst (Investment/Development)
- Role Overview: For those looking to eventually build their own portfolio or work on smaller deals, starting at a smaller investment or development firm could provide hands-on experience.
- What You’ll Do: You’ll be involved in all aspects of the deal lifecycle, from sourcing deals and contract negotiations to asset management and investor relations. This role is great for those who want to learn the business in a more entrepreneurial setting.
- Salary & Growth: While these roles typically come with lower compensation at first, the experience you gain will be invaluable long term, especially if you plan to work for yourself in the future.
- When It’s Right for You: If you want to build your own real estate portfolio and enjoy working in a smaller, entrepreneurial setting, this is a great way to start.
How to Prepare for Applications and Interviews
- To stand out when applying for jobs, having strong financial modeling skills and experience with real estate software can help. Additionally, networking and understanding the real estate market will give you an edge.
If you’re aiming for a career in commercial real estate, research the firms you’re applying to, tailor your resume to highlight relevant experience, and be prepared to discuss specific projects you’ve worked on.
Conclusion
Commercial real estate offers a wide range of entry-level opportunities, each with its own unique benefits. Whether you’re interested in sales, brokerage, institutional investment, or acquisitions, understanding where your strengths lie and what type of company you want to work for is crucial. For more detailed resources on entering the industry, check out Breaking the CRE Academy, which offers in-depth training on financial modeling and career coaching.
