Looking For a Real Estate Job in 2024? Watch This.

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Looking For a Real Estate Job in 2024? Watch This.

Рет қаралды 4,086

Күн бұрын

Looking For a Real Estate Job in 2024? Watch This. //
Distress in the office sector, potential distress in multifamily, and the overall rise in interest rates that's put a huge strain on commercial real estate values have all made headlines in 2023.
But even though it might not seem like it, there are a few parts of the industry that are actually growing really quickly right now, and these aren't being talked about within these conversations.
And if you're trying to land a job in commercial real estate today, these are places that a lot of people aren't looking (and can be huge opportunities to get your foot in the door), so in this video, we'll break down what I see as the biggest career opportunities within commercial real estate heading into 2024, and why I like each of these for young real estate professionals.
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🕒 Timestamps 🕒
0:00 Introduction
0:48 Opportunity One
3:38 Opportunity Two
6:04 Opportunity Three
#commercialrealestate #realestatecareers
*Nothing in this video should be construed as tax, legal, accounting, valuation, or financial advice or recommendation. All information in this video is intended solely for educational purposes, and you are advised to consult with your own personal professional advisors regarding your personal investment decisions.
**AFFILIATE DISCLOSURE: Some of the links in this description are affiliate links, meaning, at no additional cost to you, we may earn a commission if you click through and make a purchase and/or create an account.
Research and articles referenced in this video:
privatebank.jp...
pws.blackstone...
www.wsj.com/ar...
chrome-extension://efaidnbmnnnibpcajpcglclefindmkaj/www.brookfield...
www.perenews.c...
www.walkerdunl...
therealdeal.co...
www.wsj.com/ar...
www.cbre.com/i...

Пікірлер: 17

@BreakIntoCRE 8 ай бұрын

Which part of the industry are you trying to break into?

@roderickbryant6725 5 ай бұрын

Justin is it possible to be a successful broker with a company hiring hundreds of brokers at a time?

@Jordan-gu5iz 7 ай бұрын

Can you rank the top brokerages for loan production? Such as JLL, CBRE, C&W, Colliers, W&D, M&M

@josefiol9520 7 ай бұрын

Hi great content as always. I would like to ask you something what degree do you think is best to have a career in real estate private equity? Thank you.

@BreakIntoCRE 7 ай бұрын

Degrees in economics, finance, and real estate tend to be the most desirable in the eyes of employers, but CRE professionals also often come from general business, architecture, or engineering backgrounds. In CRE in general, internship/job experience along with technical skills tend to be far more important than the type of degree someone earned. Good question!

@lukesammann1959 7 ай бұрын

I'm trying to decide between doing real estate finance vs regular finance. Any advice on what i should do? I know finance may give me options in private equity, IB, or other non real estate fields but would still give me the option of doing CRE. Do you think it's a good idea to hedge my bets or should I go all in on real estate (I am pretty confident I want to work in CRE and take some of your financial modeling courses) I am a freshman in college. @@BreakIntoCRE

@Hwilly919 7 ай бұрын

Hey Justin, love the channel. I graduated from college in May of 2022 w/ BS degree in Economics. I have been at my current company for 2 years now (mortgage broker space) and have a few internships related to CRE (leasing, research, tenant financials). So 2-3 years of experience, I’m looking to make the switch to investment sales/brokerage but would like to start out in a salary analyst role before becoming an associate/broker. Any tips on how to find these jobs? I’ve been looking on LinkedIn companies such as CBRE, JLL, Marcus & Millichap, Colliers, etc. I am not seeing any analyst roles available, do you have any tips on how to find these types of jobs?

@diegopabs 7 ай бұрын

Hey Justin! Thanks for the video, it's definitely hard to break into CRE right now, but never give up! Rather than sitting around, it's always a good idea to take some of your courses.

@BreakIntoCRE 7 ай бұрын

Agreed! Now is a great time to work on the technical skill set to be ready for opportunities in 2024. Thanks for watching!

@investwithjeff 7 ай бұрын

Nice work Justin. I'm working on Sponsoring Affordable Housing. Raising the equity.

@BreakIntoCRE 7 ай бұрын

Great to hear! Affordable housing is very much in demand. Good luck with the capital raise!

@smitd4ty 7 ай бұрын

Always appreciate your videos and insights! Do you think banks or non-banks will be doing more hiring for Comml Mortgage loan production in 2024. Curious to how someone trying to break in should target their job search

@Kurt-rg8jq 7 ай бұрын

I work as a CRE analyst at a large bank. I had to network my way in. One of my classmates worked at the bank and she introduced me to the analyst manager and I also met for coffee/had phone calls with 4 other relationship managers and analysts in the group. They had 2 off cycle positions open up and was guided to exactly which day the online application would come online which was like Monday, 12:01am, and was told I need to be the first 100 applicants to even be looked at, so I applied at 12:01am. Then I had the interviews and got prepped w/ exact questions I’d be ask from my classmate. The people I spoke with recommended me. Then I still didn’t get the job and was told someone else got the job but then 2 weeks later they called me saying the other person turned down the offer and they offered me the job. So def not easy. Now they typically are doing on cycle hires for analysts. They are going through the school systems they recruit from and they start early. They are starting to have networking for sophomores now. And they want them to be a summer intern first then see how they do then offer the job for the next year summer. So feel like only if you’re in college you get in now. Because we haven’t done deals since mid-2022 and salaries increased, no one has left the job but they continued to hire, and now we are overstaffed at the analyst level. I know someone who just got let go as an analyst at a mortgage broker. Everyone is thinking they are going to fire a few analysts in 1Q24 as no deals and internally they don’t anticipate new originations in 2024, and if it happens def not until 2nd half of 2024 is when it’ll start to trickle in. I think hard money lenders or debt funds might have more activity as we at the bank aren’t taking any deals as they don’t pencil. Clients are hoarding cash though and getting ready, so late 2024/2025 I expect/hope for activity as we can’t survive this long without origination fees, especially as interest rates drop and we lose the interest income we are surviving on.

@BreakIntoCRE 7 ай бұрын

Despite challenges, banks still make up ~40% of the CRE lending market, and hiring will likely pick up for all lenders including banks. Page 3 of the CBRE Q3 US Lending Figures provides a helpful breakdown of production by lender (and changes since Q3 2022), which could be helpful to help guide your search (link here: www.cbre.com/insights/figures/q3-2023-us-lending-figures). Good question!

@Kurt-rg8jq 7 ай бұрын

To add, since we’re overstaffed at the moment, they’ve just ask a few of the analysts to go to the workout group as that pipeline is building and likely they will transfer in Jan/Feb. 2024. So executives/upper management must be anticipating more loans in workout with less needed for origination/portfolio management needs as we’ve been pushing loans to payoff instead of renew/rollover.

@smitd4ty 7 ай бұрын

@@Kurt-rg8jq Ty for this!! Much needed insight

@smitd4ty 7 ай бұрын

@@BreakIntoCRE Ty!! Appreciate the link