Marcus & Millichap Reviews

Pros

Great platform
National, well-known brokerage firm with great resources
Entrepreneurial environment

Cons

It takes time to learn the business and make money

Advice to Senior Management

Continue to build and promote the Mnm brand throughout all media types

Pros

The best reason to work at m and m is potential money down the road. You are an independent contractor and really control your own hours. M and m has solid resources and clean offices.

Cons

Even in normal economic times it would take a while to make any money. Given the current economy it may take up to 2 years to make any meaningful cash. Marcus offers no salary, no draw, no benefits, and no 401k to their brokers. U pay 1000 for training. The commission splits are not that great. My advice would be to go into multifamily because that is a the hot market now and should remain so for the next couple years. Financing properties is difficult, vacancy rates are high, and owners are looking for tenants to lease to.....which Marcus does not do. It is not rocket science but it does require long hours and no pay while u are getting things going. Most do not make it and leave for different industries. U should certainly have cash on hand in order to live for a couple years. Good luck

Advice to Senior Management

Gonna be tough replenishing talent in a tough economy when it's very hard to make a buck in the business. Find a way to retain hard working brokers when the economy is abysmal.

Pros

Good training when you are new to comercial real estate

Cons

once you are trained no reason to stay with there poor commision split

Advice to Senior Management

need more season managers

Pros

M&M is a boiler room setting where young entrepreneurs are given a chance to attempt to make money. It is a true sink or swim environment which is where the best rise to the top. The platform allows immediate inventory for agents to work on; however, the value of the agents lack from lack of training/value-add brokerage understanding.

Cons

Burn and turn transactional brokers lead to a reputation of the company overall. New agents constantly undermine the brand because management is unable to properly manage greed in the senior and junior brokers to jump on the phone prior to having the proper training and/or credentials. How many calls does it take to create a warm relationship? Numerous How many times does it take a new agent to ruin that warm relationship? Only ONCE...Value added brokerage and advisory completely lacks from 90% of the brokers.

Advice to Senior Management

Quality not Quantity...the amount of agents in the company is not a sign of strength. The company is only as strong as the weakest agents and managers. Training, Policy, and Senior Agent support.

Pros

flexibility entrepreneurial, easy going, self motivated mentality

Cons

no money for 12-16 months or financial support.

Pros

they give you the desk , phone and a megatron manager the oppertunity is yours

Cons

takes time to get going

Advice to Senior Management

a draw on pendings

Pros

good experience to work as a student

Cons

little diversity within the workplace

Advice to Senior Management

everything was great within M&M

Pros

While working without a base salary and under the supervision of a manager who may be seen as a slave-driver, you will have the opportunity to develop your communication skills, learn about the commercial real estate industry, learn to analyze investment properties, and gain an intimate understanding of why investors hate Marcus & Millichap from inside the company. These are opinions based on experience.

Cons

The company promotes a "mentor relationship" between the Junior Associates and Senior Brokers which serves only to the benefit of the senior brokers. Associates are used as a supplemental source of income to pay Senior Brokers. Marcus & Millichap takes 50% of your commission. The Senior Broker takes another 50% of what is left. Then Marcus & Millichap takes more for training fees, litigation fund fees, and many other fees. You can expect to receive a first check which states a commission of $0. I've seen it many times. Everyone including myself clinches at the dream that they will soon reach that point where they start earning that "unlimited income potential" that the sales manager talked about when they were hired. These are opinions based on experience.

Advice to Senior Management

Give your employees a salary base like every other company who has sales staff! Stop taking 50% of associate's commissions!

Pros

If you want to focus on apartments they have one of the larger market shares (CBRE sells more apartments, however).

Cons

It's amazing that so many people keep coming back to work everyday for no salary and no benefits, plus disrespect and abuse from the sales trainer.

Advice to Senior Management

The top executives need to become less greedy and offer a stronger financial incentive to the best agents to manage the offices. It would completely improve the culture and thus the reputation to the market. Instead, none of the best agents want to serve as the sales manager, and so the most jerky, lower-performing agents end up being the sales manager.

Pros

M&M is a good company to work for- lots of opportunity for the young and eager. Must be willing to have an anything goes and do whatever it takes to make it.

Cons

Sometimes the expectations are a bit unreasonable.

Advice to Senior Management

Yes, hardwork does pay off but to remember to work harder to be fair.