Investment Real Estate Associates Reviews | Glassdoor

Investment Real Estate Associates Reviews

Updated January 18, 2017
11 reviews

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3.6
Star Star Star Star Star
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Recommend to a friend
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Raffi Krikorian
6 Ratings

Employee Reviews

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  1. Helpful (1)

    "Great team despite challenging and competetive environment"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Contractor - Rehab Director in San Luis Obispo, CA
    Former Contractor - Rehab Director in San Luis Obispo, CA
    Recommends
    Positive Outlook
    Approves of CEO

    I worked at Investment Real Estate Associates as a contractor (More than 3 years)

    Pros

    I worked at IREA for 4 years, and eventually left the industry, not because of the firm, but due to other opportunities that were more suited to my interests. I had a very successful career with IREA and learned a lot from the upper management and senior agents, helping me to advance in the industry. Despite having abundant success as well as receiving numerous awards and recognitions from inside and outside the firm, the business itself wasn't to my liking. Had I remained in the industry I would have stayed with IREA due to the amazing co-workers and team-like environment where we shared deals instead of keeping them all to oneself like in other firms. At times I had disagreements with the broker, and we would arm wrestle over practices. If I was able to prove my point, he would acquiesce. I often went “outside the box” and was able to pursue my personal business plan with guidance and support from the broker. I would recommend IREA as a great firm to start with. It is a tough industry, but the management trains new agents well and partners them with senior agents to help guide them on to success.

    Cons

    Commercial real estate is tough no matter what firm, and IREA is no different in that regard. Be prepared to go months without a paycheck, and work your tail off farming clients and leads. There are deals to be had by those willing to put in the effort with a positive attitude and integrity.

    Advice to Management

    Be open to new ideas.


  2. "My experience was very educational, and gave me the tools needed to be successful as a commercial broker"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Director Investment Sales in Salt Lake City, UT
    Former Employee - Director Investment Sales in Salt Lake City, UT
    Recommends
    Positive Outlook

    I worked at Investment Real Estate Associates full-time (More than 3 years)

    Pros

    While at IREA, I received a tremendous education as it relates to deal transactions. From day 1 I had the opportunity to work with senior agents that helped me get started and worked with me on my business goals and efforts. All new agents are given this same opportunity.

    Cons

    It possibly could take a few months to get your first deal (which is very normal as a commercial real estate agent with any Brokerage company)


  3. "Long Time Agent"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Contractor - Anonymous Contractor in Encino, CA
    Current Contractor - Anonymous Contractor in Encino, CA
    Recommends
    Positive Outlook

    I have been working at Investment Real Estate Associates as a contractor (More than 10 years)

    Pros

    You reap the rewards of your own hard work. The compensation is generally based on 100% commission (as is standard in most real estate brokerage companies), giving each agent the opportunity for unlimited earnings potential. Obviously there are many who are not able to go six months to one year without making any money (before their first sale), but for those who can, the potential rewards are tremendous. The training program for new hires is good and the mentoring program after training is excellent.

    The commission payments are generally better than similar higher-end investment real estate brokerage companies allowing successful agents to earn more. The work atmosphere is strong and it is very common for agents to work together in selling each others listings.

    While it is true that it is difficult to make it in the business, for those who persevere and work hard, a six figure income is well within reach and seven figures is obtainable and has been obtained multiple times by multiple agents.

    Cons

    For those who do not find success within approximately their first year, there is no real alternative other than for them to leave. Most leave on their own since they have gone so long without making any money, but occasionally an unsuccessful agent will be asked to leave the firm.

    Advice to Management

    Management does very well in working with new agents and in providing support for senior agents.


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  5. Helpful (3)

    "Amazing learning experience with Potential for High Earnings"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Real Estate Salesman in Encino, CA
    Former Employee - Real Estate Salesman in Encino, CA
    Recommends
    Positive Outlook
    Approves of CEO

    I worked at Investment Real Estate Associates full-time (More than 5 years)

    Pros

    -boutique environment
    -successful track record in Real Estate
    -family type environment with a caring feel for employees
    -a diverse employee base that allows for a comfortable environment
    -lots of hands on training

    Cons

    Commercial real estate is a career that takes dedication and hard work. It is not a 9 to 5 job with benefits. But most brokers can make more than CEO's if they can persevere.


  6. "Not great"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Associate in Encino, CA
    Former Employee - Associate in Encino, CA
    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO

    I worked at Investment Real Estate Associates full-time (Less than a year)

    Pros

    Contests can be fun, weekly meetings are resourceful.

    Cons

    Very much a micro managed firm. Will try to keep you down, in the dark and small. They make you think that if you cannot make it there, you cannot make it anywhere. Could not be further from the truth. Grass is truly greener on the other side, and majority of agents that leave do much better elsewhere. Commission is low, and is set up for failure. Not much support. I ran away after 6 months. Save yourself the time, and stay away. Revolving door type of firm.

    Advice to Management

    Give more autonomy to your employees. Create positive environment, not one that is hostile.


  7. Helpful (2)

    "Dishonesty, low commission, micro managed"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Contractor - Associate in Encino, CA
    Former Contractor - Associate in Encino, CA
    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO

    I worked at Investment Real Estate Associates as a contractor (Less than a year)

    Pros

    Good sense of comradeship between associates. Firm provides decent structure to new agents, convenient street parking, a professional environment and respect among co workers.

    Cons

    Very micro managed firm, with the lowest industry commission base. Seems as though the owner is dishonest (past clients will attest to this as well). There are so many other great companies to work for with better compensation, respect to employees and clients. The training is not as good as advertised, but it will be overstated to justify a low commission. Do your research before being convinced to join.

    Advice to Management

    Requires significant improvement to management skills, maximize talent, increase emotional intelligence and think outside of the box.


  8. Helpful (1)

    "Great culture, inspiring work environment, true motivators."

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee in Encino, CA
    Former Employee - Anonymous Employee in Encino, CA
    Recommends

    Pros

    The president of this company is devoted to the success and happiness of his employees and agents. There is a real sense of family at IREA.

    Cons

    If you're used to working at a large, corporate firm, this won't be for you. Boutique-style by design.


  9. "IREA is a good staring point for the industry."

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Associate in Encino, CA
    Former Employee - Associate in Encino, CA
    Recommends

    Pros

    -Great mentors available for guidance in starting in the commercial real estate industry.
    -They provide access to database programs and tools necessary for developing analysis on income producing properties.
    -High level of integrity among co-workers
    -Management is genuinely interested in your personal success

    Cons

    -Staff meetings can be long at times
    -Hired as contractor and treated as salary
    -No salary option for starting off in industry

    Advice to Management

    Consolidate your meetings to take up less time of the contract employees


  10. Helpful (1)

    "“professional business culture, motivating work environment, many successful brokers. ”"

    Star Star Star Star Star
    • 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 Investment Real Estate Associates full-time (More than 5 years)

    Pros

    IREA has an exclusive mentorship program and successful platform that takes brokers to the next level of their career.
    Very competitive commission/incentive program. One of the highest grossing commissions companies on a per broker basis in Southern California.

    Cons

    Privately owned. Boutique-style by design. If looking for a large publicly traded company, this may not be for you.

    Advice to Management

    Management has an excellent open door policy that insures you are staying on a path to success.


  11. "Decent Place to Start"

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

    I worked at Investment Real Estate Associates full-time

    Pros

    Overall, this company is a decent place to start a commercial real estate career. Raffi is a very helpful resource and is awesome to work for.

    Cons

    The splits with IREA are some of the worst in the business, and they don't do much training. You will get out of it what you put into it. You will have to teach yourself almost everything. There are much much much better brokerages to be a part of, and most former employees I keep in contact with are doing much better at other places.

    Advice to Management

    Maybe try and actually train your employees, and don't lie to them. Also, stop being so greedy. Senior agents get a 60/40 split. that is horrendous.