U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Real Estate
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 02-11-2019, 09:17 PM
 
11 posts, read 2,120 times
Reputation: 10

Advertisements

Quote:
Originally Posted by jackalope48 View Post
So I own and run a fully integrated commercial company and own the properties we manage. Judging by what you say I'm the kind of company you'd probably want to work for. There are maybe a half dozen firms my size or bigger in 300,000 person market. Of those all but two are similar in an owner manager boss and a couple staff running primarily the owners stuff and maybe doing brokerage work on the side. There are two, count em, two third party commercial management companies of any note and they too have a primary person who owns it and maybe a handful of managers between them. In other words there aren't a ton of these companies and jobs out there and half the upper level jobs are the owners.

That said there are three primary job types.

1. Accounting- these folks usually come from banks when mergers and downsizing happens or start as book keepers and move up.

2. Leasing agent- All the ones I've ever had started as an assistant or had a license beforehand and sold houses or commercial.

3. Property/Operations Managers have either been an assistant, a residential manager or had a construction management background.

In most shops 2 and 3 are actually merged jobs with one person doing all of it on a property. That's especially true in third party management.

Small and medium real estate companies are incredibly flat. At best three levels, 1. assistants 2. managers, accountants, agents 3. owner.

Doing work at a bank on real estate transactions doesn't greatly help you in getting those middle positions.

Now the good news. Entry level jobs matter in commercial real estate. Our lowest paying customers spend hundreds if not thousands of dollars a year with us. We call our receptionist our "Chief Officer of First Impressions". Half the office started in that chair, including me. It's where you learn the pace and flow of the business and what happens. It also gives you the opportunity to volunteer for work that'll let you move up later. There is endless possible work in a real estate firm so if you are a self starter you'll outgrow the job quickly. It isn't being the fry cook at a fast food place.

Finance as a stand alone function is almost always an owner level portfolio unless the company is very large.
Great great post-very thorough. Kind of describes in length how its hard to break in-either your overqualified or under..ive done appraising,valuations so I have good background.. So what do you suggest?

Wheres your company located btw..
Reply With Quote Quick reply to this message

 
Old 02-12-2019, 04:03 PM
 
Location: Raleigh NC
8,456 posts, read 6,645,304 times
Reputation: 7578
he's told you that you're under-qualified for what you aspire to now. You'd start in the "Chief Officer of First Impressions" seat, aka the reception desk.
Reply With Quote Quick reply to this message
 
Old 02-12-2019, 05:00 PM
 
11 posts, read 2,120 times
Reputation: 10
Default career

Quote:
Originally Posted by BoBromhal View Post
he's told you that you're under-qualified for what you aspire to now. You'd start in the "Chief Officer of First Impressions" seat, aka the reception desk.
They wont give me that because Im ovequalified..
Reply With Quote Quick reply to this message
 
Old 02-13-2019, 02:06 AM
 
8,775 posts, read 7,753,327 times
Reputation: 19053
You still don't understand, you are not overqualified. As we keep telling you that in the field you want to get into, so far you have no qualifications at all for a career in property management. A completely different field than your work experience. You have to start at the bottom and work your way up in your new chosen field.

A person is over qualified, if they say have 10 years experience managing a department store, and apply for a job in another store as a clerk

You have no experience in your chosen field, so are not overqualified, as jackalope48 and BoBromhal have tried to tell you so nicely. You have no qualifications whatsoever for the job you want. And as it was explained to you, there are very few openings for the job you want, and you work up from the bottom to get one of the few openings that come available.
Reply With Quote Quick reply to this message
 
Old 02-13-2019, 09:06 AM
 
Location: Raleigh NC
8,456 posts, read 6,645,304 times
Reputation: 7578
I graduated with high marks from high school and a respected University.

I worked in commercial lending for 10 years, learning to analyze and understand financial statements, commercial property values and the appraisal/closing process for same, residential construction & financing. I also learned how to serve folks that were wealthier than I, and for whom "fiduciary relationship" was paramount.

Then I got my real estate license, acing the course (98%) and state tests (pass/fail).

The moment I decided to get into residential real estate sales, I was UNDERQUALIFIED to represent people in the buying and selling of homes...on every point except the fiduciary responsibility.
Reply With Quote Quick reply to this message
 
Old 02-13-2019, 05:08 PM
 
17,828 posts, read 22,879,848 times
Reputation: 32942
can you be a commercial "start-up consultant or coach"

set up your own facebook page brand yourself....
and start consulting under the "you want to own your own business"??? (but have no idea where to start or what you need to do??
Reply With Quote Quick reply to this message
 
Old 02-21-2019, 04:15 AM
 
36,091 posts, read 13,844,701 times
Reputation: 22843
Quote:
Originally Posted by oldtrader View Post
You still don't understand, you are not overqualified. As we keep telling you that in the field you want to get into, so far you have no qualifications at all for a career in property management. A completely different field than your work experience. You have to start at the bottom and work your way up in your new chosen field.

A person is over qualified, if they say have 10 years experience managing a department store, and apply for a job in another store as a clerk

You have no experience in your chosen field, so are not overqualified, as jackalope48 and BoBromhal have tried to tell you so nicely. You have no qualifications whatsoever for the job you want. And as it was explained to you, there are very few openings for the job you want, and you work up from the bottom to get one of the few openings that come available.
^^This^^
Reply With Quote Quick reply to this message
 
Old 02-21-2019, 04:16 AM
 
36,091 posts, read 13,844,701 times
Reputation: 22843
Does "valuations and underwriting" mean working at a bank/mortgage company?
Reply With Quote Quick reply to this message
 
Old Today, 10:49 AM
 
11 posts, read 2,120 times
Reputation: 10
Default career

Quote:
Originally Posted by GotHereQuickAsICould View Post
Does "valuations and underwriting" mean working at a bank/mortgage company?

Yes it does... Working for bank
Reply With Quote Quick reply to this message
 
Old Today, 11:56 AM
 
386 posts, read 233,486 times
Reputation: 679
Quote:
Originally Posted by bobbyboy221 View Post
Great great post-very thorough. Kind of describes in length how its hard to break in-either your overqualified or under..ive done appraising,valuations so I have good background.. So what do you suggest?

Wheres your company located btw..
I'm in South Texas. I'd talk to some owners you know and tell them you want to come work in their office as a low level generalist. Point out you have a background in analysis but want to gain practical experience in operating a company and want to learn from the basic levels up. Explain they may think you are over credentialed but you do want to do grunt work and learn the business. You might also check if you have an active local BOMA, ULI, ICSC, or commercial property association and go to some functions to network.

Keep in mind commercial leasing is a business to business sales job. The two best I've ever had work for me were previously a department store layout specialist(had good visualization skills) and a car salesman turned residential broker(his dad had owned a chevy dealership so he knew the sales process).

I'd shoot for a manager's assistant type job doing rent intake, taking tenant calls on maintenance, keeping track of tenant insurance certificates, coding payables, etc. Getting an agent license wouldn't hurt you either and might give you the option of picking up some management clients and opening your own shop.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply

Quick Reply
Message:


Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Real Estate
Follow City-Data.com founder on our Forum or

All times are GMT -6.

2005-2019, Advameg, Inc.

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 - Top