Marcus & Millichap Reviews

Pros

Good company name, opportunities for advancement, lots of money (i.e. up to 2.5% of the value of property being sold), etc. I really loved my boss; he's still a good friend.

Cons

Very competitive environment, some "backstabbing" and a small amount of vicious office politics (as with any other place).

Advice to Senior Management

Keep on doing a good job. Just make sure to allow people who may be naive, but still hard working (like I was) to gain expertise.

Pros

You are an independent contractor and get to work the days and hours that your prefer.. you are your own boss.

Cons

It is very difficult to make money. When you start, they will tell you not to expect to make any money in the first 6 months. IF you do, it will likely only be 5-10k. Good Luck! You will need it.

Advice to Senior Management

Offer some sort of draw or small compensation package to new brokers.. or offer better than 50/50 commission splits if the brokers actually do make money.

The only people who can succeed in this business are those that have enough money stashed away to live off for at least 1 year.

Pros

Strong performers that execute well consitently have unparralleled potential. It is an environment that is not set up to micro manage, rather one that provides the coaching and guard rails to success. Those that succeed do not reinvent the wheel rather execute and stay inside the guard rails while increasing the speed.

Cons

No where to hide. Rocks will not float.

Pros

If you work hard, you have the opportunity to be very successful in the Marcus & Millichap system. Self-motivated individuals will do well.

Cons

Do not expect to make money for the first several months. It takes time to build your business, so persistence is important.

Advice to Senior Management

Keep involving junior agents in the process, and offer them advice whenever possible. Synergistic relationships can benefit both junior and senior agents financially, while helping junior agents gain experience.

Pros

unlimited earning potential, flexible schedule, good education, good support staff, culture of sharing information, great place to work as a commercial broker

Cons

no benefits, compensation is on commission only, each deal you have to pay 50% of your commission which is quite high and it is tough to get started.

Advice to Senior Management

increase commission percentage so that new agents can survive, it is hard to make it through your first year

Pros

Known as the best training program for new employees in commercial real estate brokerage. Provide you with all the tools to be successful as an agent, if you commit yourself to what they advise you to do.

Cons

No Salary. You have to have enough in savings or other means to work without pay from anywhere from 6-18 months. Very tough environment to be successful because sales of commercial properties is slow compared to active years previous before 2008.

Advice to Senior Management

Management's main responsibility, especially in this environment, is to motivate employees to continue to be active and positive while the real estate sector in general is currently depressed.

Pros

There is a potential for large commissions.

Cons

There were not any protected territories. This is a commission only job so there is a large amount of turnover. Providing a simple base pay to worthy employees would help. I understand that this is industry standard but it would ultimately help the reputation of the company with a higher class of employees.

Advice to Senior Management

The most difficult objection to handle was dealing with the company reputation. Current client relationships were not respected by other reps in the same office. Clients were confused why multiple representatives from M&M kept leaving messages.

Pros

Learn Investment Real Estate quickly
Exposure to large number of deals
Senior brokers are great resources to ask questions and get feedback

Cons

Compete with other brokers in your office for the same area
Company is missing an opportunity by not offering clients leasing services. Offering leasing would greatly contribute to the success of Office/Retail brokers

Advice to Senior Management

I've met John Kerin Several times and he seems to take a great interest in his brokers. He is a leader that I believe any broker in any office could call him and he would respond personally.

Pros

You can develop your admin skill sets if you are looking to do that, but other than that, there is nothing else to learn in this capacity.

Cons

Management does not offer to share responsibilities to help you learn the operational side and creates an 'us vs. you' environment. Basically, there is no upward mobility for a BA and the salary is so archaeic and below industry standards. The benefits are also substandard for a national brokerage corporation compared to others, offering basic medical insurance, which is required by law anyways. Very male dominated, with executive titles going 99.9% to males in agent or upper management positions, with a token two or three females in corporate positions having a VP title.

Advice to Senior Management

Teach your RM and agents the art of praising your staff. It's understandable that they do not have these skills coming from a dog-eat-dog world and learning to be a 'survivor' and receiving no praise or kudos on a daily basis, but it is vital to the moral of the staff to know that you are doing a good job and being appreciated...and not just at review time but daily or weekly.

Pros

Good place to launch a career and build connections. Good experience working with other people and ability to develop sales skills.

Cons

Need to reward employees who work hard, not just the VPs who sit at the top.
Dress code. Who still needs to wear a tie when you're sitting behind a desk doing most of your work talking to people on the phone?

Advice to Senior Management

Reward your employees or they will walk.