Marcus & Millichap Reviews

Updated August 10, 2015
8 reviews filtered by
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2.3
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Approve of CEO
Marcus & Millichap President & CEO John J. Kerin
John J. Kerin
4 Ratings

Pros
  • The training program is second to none (in 14 reviews)

  • Great training, Great Tools, Great opportunity for self directed people (in 11 reviews)

Cons
  • No benefits, no salary (small salary if SIP, which later gets deducted from commissions) (in 10 reviews)

  • 100 percent commission based compensation structure (in 7 reviews)

More Pros and Cons

8 Employee Reviews

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  1. Helpful (1)

    Associate Broker

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Associate Broker in Chicago, IL
    Former Employee - Associate Broker in Chicago, IL

    I worked at Marcus & Millichap full-time (More than a year)

    Pros

    -Access to nation wide network of brokers. -No desk fees. -Good training program. -Access to marketing material and information on market trends. -Mentoring program. -Incentive programs for bonuses and awards through the year.

    Cons

    -Unless you are working on a team, there isn't much support or income once the training period is over. -Established brokers and staff were slow to accept new people into the office. I believe this is for two reasons. 1.) New brokers represent new competition for others in the same genre of CRE. 2) The ramp up time to getting paid is fairly long and leads to a high turnover rate. This is normal for CRE but still a factor that can affect a cohesive office environment. -Cold Calling and lots of it. It was pitched to me a business development calling but regardless of the term is was cold calling.

    Advice to Management

    Be more honest on exactly what is asked of being a new broker. Had I known that my mentor was looking more toward management and I would be required to make hundred of cold calls a week I would have looked else where and we wouldn't have wasted each others time.


  2. Associate Broker

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Associate Broker in Chicago, IL
    Former Employee - Associate Broker in Chicago, IL
    Doesn't Recommend
    Negative Outlook
    Approves of CEO

    I worked at Marcus & Millichap (More than 3 years)

    Pros

    Training for new employees Decent support software Learn a lot-but don't make much money the first 1-2 years Support of long term agents-but throw new agents under the bus in a dispute

    Cons

    Training is erratic, some offices train well, some don't Expected to make 250 phone calls per week plus other activities tough to do After all your work, they take 1/2 your commission, plus expenses for training and legal ins. After paying for legal services to defend you-they don't and you eat your commission

    Advice to Management

    250 calls per week? Seriously? Need to standardize training Give a better split to agents More support in the first year to help agents through it


  3. Broker

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    Former Employee - Commercial Real Estate Broker in Chicago, IL
    Former Employee - Commercial Real Estate Broker in Chicago, IL
    Doesn't Recommend
    Positive Outlook

    I worked at Marcus & Millichap full-time (More than 3 years)

    Pros

    Income potential, you learn how to make it on your own.

    Cons

    I started in Chicago and was pushed into a property type and territory that was already covered by a senior agent, managers decision can make or break you

    Advice to Management

    Have the 3 offices work together and only let Compitent brokers become mentors


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  5. Great Company, Great Opportunity

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Sales Associate in Chicago, IL
    Current Employee - Sales Associate in Chicago, IL
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Marcus & Millichap full-time (More than a year)

    Pros

    Great training, Great Tools, Great opportunity for self directed people

    Cons

    must be self driven and need strong reserves set aside for first year

    Advice to Management

    consider small draw/salary for rookies


  6. Associate

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Associate in Chicago, IL
    Current Employee - Associate in Chicago, IL

    I have been working at Marcus & Millichap full-time

    Pros

    Learn a lot about investment brokerage--tremendously high upside

    Cons

    Tremendously low floor--not enough mentoring to justify full time commission

    Advice to Management

    Be honest with employees


  7. Great Introduction To Real Estate

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Broker in Chicago, IL
    Current Employee - Broker in Chicago, IL
    Doesn't Recommend
    Neutral Outlook
    Approves of CEO

    I have been working at Marcus & Millichap full-time (More than a year)

    Pros

    Great Training Program, many workshops to attend.

    Cons

    Saturated Chicago Market, clients have bad impression of the company.

    Advice to Management

    Don't lose sight of your up and coming brokers


  8. Helpful (1)

    Real Estate Investment Sales

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Vice President of Investments in Chicago, IL
    Current Employee - Vice President of Investments in Chicago, IL
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Marcus & Millichap full-time (More than 10 years)

    Pros

    Excellent-Private Debt Free Company Fantastic training for new agents 6 Figure Income Potential 100% Focus on Investment Sales

    Cons

    Long Hours During Ramp up


  9. RE Broker

    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Real Estate Broker in Chicago, IL
    Former Employee - Real Estate Broker in Chicago, IL
    Doesn't Recommend
    Approves of CEO

    Pros

    Recognition in the RE industry Location Opportunity

    Cons

    Commission Based Compensation Charge for "Training"

    Advice to Management

    They know what they are doing



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