Marcus & Millichap Reviews

Updated August 29, 2015
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2.9
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Marcus & Millichap President & CEO John J. Kerin
John J. Kerin
79 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

209 Employee Reviews

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  1. Financial Analyst

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Senior Financial Analyst in Atlanta, GA
    Current Employee - Senior Financial Analyst in Atlanta, GA
    Doesn't Recommend
    Positive Outlook
    Approves of CEO

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

    Pros

    Good experience builder for resume, potential upside for transitioning into sales, Opportunity to learn a lot about the commercial real estate industry.

    Cons

    Poor work-life balance unless you are a successful sales veteran in company, cut-throat atmosphere - constant competition with external competitors as well as other agents within the company, All depends on what "team" within the company you work with or what product type you will specialize in. Unless you want to go into the brokerage, this is really just a great way to get a couple years of underwriting experience to leverage for your next position with a REIT, lender or equity firm. Get in, put up with the lack of work-life balance to grab experience out of school and then get out and move on to the principal-equity side of the game. Note this review is from the perspective of someone who does not aspire to stay in the brokerage segment of the industry. Not to say its not an important and integral part of the industry and that you can't make a lot of money doing it, just not my taste. I just can't will myself to spew constant BS which is the nature of the business.

    Advice to Management

    Invest more time and resources into the analyst roles and you might, might be able to keep some great people that can add value. At the end of the day, the only way you stay with the company long-term is if you want to stay in sales. For those who aspire to work at a REIT or anywhere in the principal side of the business, this is a stepping stone.


  2. 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.


  3. A good place to learn, but...

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I worked at Marcus & Millichap full-time (More than 10 years)

    Pros

    They will provide lots of resources through their vendor leveraging. Big companies like MM have the economies of scale that allow them to offer Costar, a very expensive resource. They also have an internal database, called MNET, which is far from mandatory to be an agent, but good for the new person to have that much data.

    Cons

    The culture at MM has always been "dark"; since the change of CEO back in 2011ish it has accelerated in the wrong direction. Even if you have the good fortune of landing in an office with a good mentor and manager, you still have the general "ICK" of the MM reputation preceding your every prospecting call. Look around you when you are sitting in the bullpen. Most, if not all the agents, assistants, and managers will be gone soon. Get what you need and look for the long term solution. You need to be lucky and good to overcome the struggles that will precede you in this business and especially at that company.

    Advice to Management

    Keep up the good work so we can depend on MM to continue its past practices.


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  5. Great place to learn the business

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Commercial Real Estate Broker in Austin, TX
    Former Employee - Commercial Real Estate Broker in Austin, TX
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

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

    Pros

    Heavy sales training. Heavy cold call training. Role playing. Access to national marketing platform. Access to transactions. Learning the ins and outs of RE.

    Cons

    Cut throat. No access to mentors. No base salary. Transaction time can take up to year. There are a few top guys in each office that make up 90% of the revenue. Most people are not making enough to pay the rent. Brokers are very territorial. High rate of attrition.

    Advice to Management

    A base salary would allow you to hand select better candidates and help develop them into RE professionals. Most people use this place as an unpaid internship.


  6. Associate Director

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Associate Director in Lawrenceville, GA
    Former Employee - Associate Director in Lawrenceville, GA
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

    I worked at Marcus & Millichap (Less than a year)

    Pros

    Commercial Real Estate Sales brand

    Cons

    Not a good internal structure for commercial real estate lending.

    Advice to Management

    Let lenders supervise and mange lenders. Improve internal loan system and process with better analyst support for all loan officers. Become a wholesaler with a large Insurance relationship etc...


  7. Helpful (1)

    Intern

    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee
    Recommends
    Positive Outlook
    Approves of CEO

    Pros

    Very friendly office. Staff is extremely knowledgeable and able to help. Very good system set up to help ease new workers into the system. Work hard and the sky is the limit

    Cons

    Cant think of any right now


  8. The worst experience of my life. Think Glengarry meets The Boiler Room. Stay away!

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Investment Real Estate Agent in San Francisco, CA
    Former Employee - Investment Real Estate Agent in San Francisco, CA
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    Pros

    Established in selling apartment buildings.

    Cons

    Doesn't let you do leasing, even though all other competitors do, which builds the relationship with landlords and thus earns you the sale listing in the future. Stupid rule. I was a nice, hard-working sales agent, and when I asked to go to the final training, the sales manager said, "I don't even know if you can cold call". As I have an MBA from Kellogg/Northwestern, and I've already been a top producer for several years in telecom sales, I simply said, "Why would you say that?" in a calm, normal voice. Then, the sales manager STARTED TO CRY!!!!. Then, the next day, he fired me for no reason, and then he sent an illegal "Burn Notice" to every broker in SF telling everyone that I some how was lying about my whereabouts, which was 100% not true, and we were contractors and not paid employees, anyway. He should be fired, and I should have sued the company for liable, if I could have gotten a copy of the letter, but the brokers that received it were afraid to give me a copy. (I worked there in 2007.)

    Advice to Management

    Get rid of the low class sales trainer/manager.


  9. Helpful (1)

    Sales

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Marcus & Millichap full-time

    Pros

    Marcus and Millichap is the industry leader in all aspects of the Commercial Real Estate Services.

    Cons

    Commercial Real Estate is a very tough industry to break into and it requires one to have ample money saved up in the bank to float them till one can build up a client base and start to make a few sales.

    Advice to Management

    Be a Leader not a manager.


  10. Great place to work

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Brokerage Administrative in San Francisco, CA
    Former Employee - Brokerage Administrative in San Francisco, CA
    Recommends
    Neutral Outlook
    No opinion of CEO

    I worked at Marcus & Millichap full-time (More than 10 years)

    Pros

    Great place for work/life balance. Flexible work schedule as long as the work is done. Great bonus program that is competitive with the market.

    Cons

    No structured recognition programs..don't expect to get a pat on the back for a job well done. Easily fly under the radar.

    Advice to Management

    Acknowledge employee contributions


  11. Helpful (2)

    Associate

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Sales Agent in Fort Lauderdale, FL
    Former Employee - Sales Agent in Fort Lauderdale, FL
    Approves of CEO

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

    Pros

    -Great for new agents to learn the business -If you get matched up with the right senior agent they will show you the ropes and take you under their wing.

    Cons

    -Not all senior agents are cut out to be mentors -Management creates a boot camp environment -Prepare to be humiliated on a regular basis.

    Advice to Management

    Treat new agents with respect



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