marketing coordinator

financial analyst

data entry clerk

leadership development program

commercial real estate agent

Marcus & Millichap

I'll start out by saying this job isn't for everyone, but if real estate is that career path you want to forge, Marcus & Millichap provides the necessary tools and resources for your success.

The work day can be overwhelming, as a broker's time is his/her money. Getting into the business is a constant trial and error and tweaking best practices that are suitable for you and will lead to high probability business development. Typical day isn't so typical in the life of a broker, but business development is the core of what you do at Marcus. When starting out, getting your name out there and developing business is the core metric that is tracked via calls. This is the life blood of your business. In order to be successful, it is important to understand your product and your client so you can provide them value and have basis for starting a relationship. Reading news, researching markets, and understanding market activity will be a good starting point to relay actionable data that affects an owner's profitability/business plan and ultimately, gives them a reason to engage you. 

At the end of the day, a job of sales is about identifying client's pain points and providing a solution. Selling an asset is a highly personal endeavor to the people you are speaking with, so being able to navigate sensitive topics, and truly thinking from the vantage point of being a fiduciary to your client's best interest is a big takeaway. Being able to come off as a fiduciary even if it's not in your best interest while still maintaining that relationship requires a tremendous amount of finesse and time management. It really depends on the individual, but I always preferred to build relationships rather than come off as transactional, even if it meant I wouldn't get paid.

I was most recently in the Houston office, and have nothing but praises for that office. I always enjoyed doing things my way, but through activity reviews, mentorship and sales meetings, I was constantly reminded where I had holes in my thinking and how I could take certain strengths of my peers and implement them into my business. I've always felt an open door policy with Ford and Will, the managers at the office, and they do a great job in building the next generation of brokers.

The most enjoyable part of the job was getting out of your comfort zone. There is nothing fun about cold-calling into the market, but if you have a mindset that you're helping owners create value, it drastically changes that perspective. As you get reps during the cold call, first meetings, and financial analysis and proposals, the business has a snowball effect in improvement. If you're committed and serious about the business, there are serious rewards to reap.

Overall great experience, only left because I wanted to be on the investment side, but if you're entrepreneurial, a self-starter, and willing to introspect and grind, you will be well suited for the business.

A typical day at work is very routine-based — lunch schedules and breaks are rigidly set in stone, and being away from one's desk to socialize or eat between breaks is very highly frowned upon.

The office is run by a single manager, although I rarely interact directly with her — I report to two other coworkers who are not specifically "middle management" but who meet with the manager on a daily basis. One of these coworkers is the brand manager with whom I work closely, and who supervises our small design team of four. I very much enjoy working with the three other designers — they are extremely talented and creative individuals. They're supportive, and always willing to offer advice or assist with challenging or confusing projects.

Most other coworkers in the office are equally friendly and supportive, and I rarely feel uncomfortable around anyone save the  manager and brand manager. They micromanage to the extreme, and can be exceptionally harsh, critical, and difficult to interact with, often placing blame on issues where blame is not due. The hardest part of my job is keeping up with the constant policy and branding changes in the office — knowing what I can or cannot do design-wise, and how much creativity is acceptable at any given time in the advertising and print publications we produce.

The most enjoyable part of my job is taking on creative assignments such as photo composites, and utilizing my Photoshop skills as I collage together seamless, visually exciting pieces. I am rarely assigned creative projects such as these, and think my skills would be better implemented if I were given the opportunity to take on more design-heavy projects.

I have learned a great deal about HTML during my 12 months in this position. I completed an online tutorial "class" through the website Aquent, and learned much about web design and how to properly use HTML and CSS to create functioning web pages. Before completing the class I only knew the basics of HTML and CSS, but I can now use code properly and effectively to create web pages I am proud of.

This whole company seemed very fishy from the start, and everything my gut was telling me turned out to be true in the strangest way, almost as if they lived by the terrible reviews online. If you want to apply for the analyst position, keep in mind that you will be outright cat-fished. 85% of the job will be designing marketing pages for your senior broker over and over for different properties, while listening to the same 10 Muzak songs, so there is not much to learn about commercial RE. Leadership is waspy, and won’t properly welcome you into the company. Almost everyone is a shark at this company, and they embrace it. Staff is unhelpful, uncaring, and will drag their feet, which makes everything you ask for an uncomfortable experience. There’s no structure or work life balance. You will have unrealistic expectations to meet all of a sudden, and if they are not met, they will get rid of you and move on to the next one as if they were shopping for t-shirts at goodwill. They will use a ridiculous excuse, and let you go probably because the senior broker realized he was even too cheap to keep paying you $12/hr. You’ll be appointed as an independent contractor, working under a team in which your senior broker will painfully pay you out of pocket, and you will have to restate the amount, and wait for it on every pay day, to give you an idea of the unpleasant compensation structure. There are no contracts, no paper work, no employee benefits as you are being hired as an independent contractor. This is not a long term job, and nobody in the company expects you to be there long. High turnover job for no reason. They will tell you it’s a sink or swim environment, and they won’t give you a chance to learn. Run away, and don’t be fooled!

My position included working as a team on projects such as; rent surveys, proposals, sales aids, etc. All projects were divided into sections and those sections were individual assignments for completion. Once completed you would pass section along to office/project manager for editing and combining to make complete project and eventually submit to Broker for presentation to client. My experience was to say the least, very discouraging... I will explain... When working on a project I would always make copies of the work I completed prior to handing over to my manager. After handing over my completed section My manager made corrections and handed to broker. The corrections that were made by Manager and the numbers she entered were incorrect resulting in a loss of client and loss of possible commission. My manager put blame on me and threatened me with loss of my position and employment. I had proof of my work and proof of her incorrect editing and went branch lead. He turned me away stating that she was too valuable to Marcus & Millichap. I decided that I wanted to work in a company that valued honesty, work ethic with integrity, even for the low man on the totem poll (me). I gave my notice! Within five years of my resignation both employees were let go!

On a side note, I obtain two letters of recommendation from two different Brokers that I worked with!

Constantly working against the clock to meet a variety of deadlines.  While there were a wide range of personalities overall good people. The turnover rate is high. Many people don't last very long when trying to become an agent. It's important to know that the agent candidates along with agents and brokers are paid solely on commission. Each individual is their own business and therefore are not directly employed by the company. There are no hourly rates for these individuals so it makes sense when they are on edge a little bit. 

As a brokerage administrator you are basically the "go-to" person. You are responsible for assisting all agents and brokers in growing their business. You are also in charge of many miscellaneous tasks around the office such as cleaning the conference rooms, maintaining the cleanliness of the break room in addition to keeping inventory of supplies in the kitchen and in the office. One also answers phones and has to know how to use a switchboard. 

There is a lot of "learn it on your own" time in this job. There are a plethora of videos available to learn and not very much hands on training. The process can become very monotonous.

If you want to get into this field you better be ready to pound the phones all day long for at least a year or two before seeing any money. If you've seen any money (income from commission) than you're still in the very rare 5% group of work bees. Very important to remember that you are called calling the same people that your co-workers are calling and you are going to be yelled at and hung-up on so many times that you'll start asking yourself: "what am I doing in this cube all day long?" A classic example of way to much demand (for brokers) and way to little supply (of deals being made). Obviously M&M don't pay if you don't pay them from closing deals so their marginal cost of hiring you is close to zero. You'll just be food for the dinosaurs in the business who will claim the investors you're talking to are theirs. Management will always take the side of the money makers who are much more established. People don' get fired in that business, they just wake up one day to realize they're wasting their lives.

(Tampa office) The culture here is very cut throat. Management works new hires like a dog, with many hours, and low pay. Advancement is slim. Training is very good. If you can hack the lifestyle of being over worked and underappreciated then you might make it... if they like you. Think of high school with the "clicks." This is not a very desirable workplace. They do not have a good reputation in the real estate world. Other commercial brokerages in the area are aware of and speak openly about the bad reputation of this company and their agents in the local market. No one has good things to say about them. Many of their agents are shady and are known to purposefully exclude unknowing agents from other agencies of their commissions, other M&M agents are known to not offer "cooperating broker agreements" at all; which means they won't pay commissions to you if you bring them a buyer for their properties. Gross GREED and superiority complexes. If you plan to work here remember this.... if it seems too good to be true it probably is. You are welcome in advance.  Beware   

Each monday, a sales meeting is held to go over what deals brokers have and what the recent happenings in the marketplace have been. Throughout the week cold-call role-play meetings and workshops are held for agent development. Learning how to speak the business, overcome objections, and learning the many different situations that can arise from the cold-call were great. Management had hardly any time or senior agents to develop people coming in that needed more guidance. Mostly just focused on recruiting and playing the numbers game; this company has been and is still very much the revolving door of the industry. The most enjoyable part of the job was the fulfillment of helping others in their investment endeavors, creating the business relationship and getting to meet very interesting people.

Marcus & Millichap is not for the faint of heart.  Expect to make no money the first 18 months, but also expect to make more than any of your friends in 3 - 5 years.  I recommend intering in commercial real estate before just going for it.  It is normal not to get paid in commercial real estate.  So first figure out that you like it.  Once you realize that this is the field you want to be in, aim for one of the top five large firms.  I chose M&M because of their training programs.  You will have 10-12 hours a week for about six months to a year of training.  It will teach you everything from building a database, cold calling, setting first meetings, and getting a listing.  The environments is definitely for type A personalities.  You will have a lot of fun with your office, you will meet individuals who have extra millions of dollars floating around looking to invest.  Overall a great place to work.  But keep in mind they do not pay you, it is a 100% commissions job, but after those first 18 months of making 250 cold calls for 6 months straight, you will be in route to making 150+ by your third year in.

Great pay. Great benefits. Beautiful office. Unfortunately, it all comes at a price. What the job description fails to include is that they want you to be in three places at the same time. They want you to be glued to the front desk chair so you can answer the phones, while buzzing the pompous, arrogant, privileged brokers in, because they are above having to use their key card. They also fail to mention that you MUST have the kitchen clean and coffee ready at ALL times for the brokers, who must always be catered to. It is also imperative to clean the conference rooms at all times, or you will be reprimanded. If you want a job that is very isolating, lonely, boring, lowers your esteem, as well as self worth, then by all means ... this is the job for you. With the high turnover this position has had, they really need to reconsider who is running that office, before she runs it into the ground.

Top Job Titles	Average Salary
Marketing coordinator 2 salaries reported	$62,500 per year
Financial analyst 5 salaries reported	$61,500 per year
Data entry clerk 9 salaries reported	$23.50 per hour
Leadership development program 1 salary reported	$130,000 per year
Commercial real estate agent 1 salary reported	$117,923 per year

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