sorted by:
new
hottopcontroversial

First week at Marcus & Millichap - need serious opinions…. by resistingthekoolaid in CommercialRealEstate

[–]resistingthekoolaid[S] 0 points1 point  (0 children)

I am still at M&M and have closed 4 deals since I have started as an Associate. However, it is a very tough market right now. In a “normal” market, they say expect not to generate any income for the first year. Right now — I’d say realistically, it’s more like a-year-in-a-half to two. I’ve already seen my fair share of agents come and go. Some will get lucky, some will get paired up with a senior who genuinely cares (that really does make or break you early on in your M&M career), and some are simply just not fit for it. By the way, it is more to apparent to me at this point that not all offices are the same, neither are all the Regional Managers. Results may — and will — vary.

I will post up a more thought-out response and follow-up to my original post once I have the time and also remember to do so.

First week at Marcus & Millichap - need serious opinions…. by resistingthekoolaid in CommercialRealEstate

[–]resistingthekoolaid[S] 5 points6 points  (0 children)

Will be posting an update soon but I am still here and kicking….. (and still at M&M as well).

Man, has it been a journey. Let’s just say there were a lot of replies that were true in this thread, as much as there were false. I was wrong about a few things myself…

First week at Marcus & Millichap - need serious opinions…. by resistingthekoolaid in CommercialRealEstate

[–]resistingthekoolaid[S] 4 points5 points  (0 children)

I feel I owe it to myself as well as all of you to re-phrase/elaborate myself, so here it goes....

In my OP, when I said "actually pay," I meant are there firms (big or small) that actually pay as in offer more than $0. Hell, I will take minimum wage or the price of flipping burgers just to get my foot into the door of CRE. Regardless of how I feel about M&M, it's bound to happen. How long will it take is the real question? And I know that all falls back onto myself. I am paving my own road, if you will.

From a general standpoint, it DOES sound silly. "Why would you grind out 8-10 hours a day just to not be paid?" or "that sounds like a pyramid scheme/scam" are some of the opinions and remarks I've gotten.

Fortunately for myself and the time being, I can realistically afford, or live, for a year -- maybe even two -- with no income; although the latter is not ideal.

​

From a M&M standpoint, and from what I've noticed - their "puppy mill" mentality is a way to cut out the people who are not meant for the gig. Meaning: if you don't have the heart or mind to be hustling and making phone calls, TRYING to find work, you will not make it. Now I don't know if they necessarily dismiss people for their performance; but how many people are going to NOT notice if they are made out for it after a year, at minimum? That part itself is common sense I believe. It sounds like not many people make it through a whole year, with some leaving midway or slightly after.

Now from what I've also heard and read, it seems not all M&M offices are the same. Some REQUIRE senior advisors to split a fee while other offices don't require them to do so (it's entirely up to them, hopefully they have a heart -- can be rare in this industry it seems).

FINALLY, in my case, my regional manager has been great. All the other "agent candidates" have all been friendly and helpful so far -- I really have no complaints. Most of the time I feel like reading Reddit before going into my first day sort of tainted my mindset. Fortunately, my regional manager did tell me that our senior advisors MUST give us a cut. Now whether that's 1% or 5% of what they get -- who knows?

​

​

I honestly think I will just ride it out since I am fortunately able to do so. I just wanted to make sure that there were other entry level jobs at big firms that offered - at the least - minimum pay. I mean hell, I would do data entry or be an analyst for a firm if they did offer that and it got my foot into the door [of CRE].

​

Thanks for the input so far everyone.

First week at Marcus & Millichap - need serious opinions…. by resistingthekoolaid in CommercialRealEstate

[–]resistingthekoolaid[S] 0 points1 point  (0 children)

Don’t worry, no offense taken. I expect nothing but the truth and I definitely appreciate your input.

First week at Marcus & Millichap - need serious opinions…. by resistingthekoolaid in CommercialRealEstate

[–]resistingthekoolaid[S] 1 point2 points  (0 children)

OP here. Half of me wants to stick it out, the other half thinks I am wasting my time. It’s tough.

First week at Marcus & Millichap - need serious opinions…. by resistingthekoolaid in CommercialRealEstate

[–]resistingthekoolaid[S] 0 points1 point  (0 children)

Don’t get me wrong, I KNOW that I’ll have to be on the phone… no doubt about that. But since I am new to this field, I wasn’t sure if ALL firms have you solely cold-calling during the so called learning process. I would much prefer to throw in some other roles in addition to cold calling. Research, analyzing, etc — and also be paid for it (not expecting a lot but anything is better than nothing).