Marcus & Millichap "100 commission" Reviews | Glassdoor

Marcus & Millichap Employee Reviews about "100 commission"

Updated Oct 10, 2019

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3.5
56%
Recommend to a Friend
93%
Approve of CEO
Marcus & Millichap CEO Hessam Nadji
Hessam Nadji
147 Ratings
Pros
  • "Great training program and good for building connections in the CRE industry for wherever you may end up(in 40 reviews)

  • "Large network of dedicated brokers(in 35 reviews)

Cons
  • "Splits for entry level brokers on teams are too small(in 57 reviews)

  • "hard to work with 100% commission(in 21 reviews)

More Pros and Cons

Reviews about "100 commission"

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  1. "Much better with new Regional Manager"

    StarStarStarStarStar
    Current Employee - Associate 

    I have been working at Marcus & Millichap full-time for more than a year

    Pros

    Learn the business from the ground up. Great training platform. Showed me exactly what I needed to do to succeed.

    Cons

    100% commission, but everyone knows that coming in. I'll make more money in my first 24 months than I did in the last 4 years

    Advice to Management

    More interaction between the Dallas office and Fort Worth office

    Marcus & Millichap2019-10-10
  2. Helpful (1)

    "commercial real estate broker"

    StarStarStarStarStar
    Current Employee - Associate in Seattle, WA

    I have been working at Marcus & Millichap full-time for less than a year

    Pros

    unlimited commision. Ability to build your own schedule

    Cons

    hard to work with 100% commission

    Marcus & Millichap2019-09-05
  3. Helpful (8)

    "Some good players but greedy and unethical management"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Anonymous Employee 
    Doesn't Recommend

    I worked at Marcus & Millichap full-time

    Pros

    if you are lucky enough to land in a fully supported office, on a well established team with great market share they will flog 250+ cold calls out of you at minimum every week, then you might get 25% of what you produce. Some folks have done very well in this environment. Not all the agents there are as bad as the management, but if you work with people like that long enough, it will start to rub off on you.

    Cons

    Greedy unethical management. Even by 100% commission standards, this place makes it tougher than most, since they establish no territories and someone in CA can be calling on your clients in NJ trying to steal them. I had another MM office make an unsolicited offer to our client the day they knew we were signing a listing agreement, trying to scam us out of a listing. Bait and switch recruiting practices. ... Juvenile alpha male wannabe environment - totally darwinian. Don't believe anything they tell you in recruitment. Unless you are driven and greedy and willing to do just about anything to make money, this is probably not for you. Don't expect anyone to look out for you - dog eat dog is a good day. Hands in your pocket everywhere you turn. Very outdated prospecting methods - downright 70's in outlook and approach. They think they are the vanguard of tech development but they have workshops on how to use your financial calculator to make money -- for real !! Totally dependent on the boiler room cold calling model. One size fits all. If you are a typical frat boy right out of school and have the desire to crush the competition, run over your grandma to make a buck - this is the place for you. But don't forget one thing - whatever you produce, your team leader will be siphoning off a good portion of what the mothership doesn't claim.

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    Advice to Management

    They are immune to advice. They are more like a cult than a company. Very little diversity in the ranks. Nasty place to work. Nasty people running the show. Any sensible person would choose to work elsewhere, as long as they aren't scammed into believing empty recruitment promises. garbage software. I expect the stock to sink.

    Marcus & Millichap2018-10-23
  4. "Associate"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Anonymous Employee 
    Approves of CEO

    I worked at Marcus & Millichap full-time

    Pros

    Great training program and mentor program

    Cons

    Tough to get started and 100% commission based pay

    Marcus & Millichap2018-10-09
  5. "Oversight to the RE Brokerage Industry"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Intern - Anonymous Intern 
    Recommends
    Positive Outlook
    No opinion of CEO

    I have been working at Marcus & Millichap

    Pros

    Get to work directly with senior management, oversight to deals that are taking place, opportunities after internship for full-time job.

    Cons

    Pay for RE Brokerage is 100% commission and is not for everyone.

    Marcus & Millichap2018-10-04
  6. Helpful (10)

    "Investment Sales Associate"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Investment Sales Associate in Fort Lauderdale, FL
    Doesn't Recommend
    Neutral Outlook
    Approves of CEO

    I worked at Marcus & Millichap full-time for more than 3 years

    Pros

    A good training program heavy in sales tactics, strategies and negotiations. If you make it long enough, you will also learn how to underwrite assets and understand all the dynamics of commercial real estate investment sales. Income can reach 7 figures - no joke.

    Cons

    This is a boiler room environment with a very long deal cycle, and it’s 100% commission (with some exceptions). Over 90% of the people who attempt this career, fail. Let me break that down for you. You better be able to do the following: Have enough money to live on for a minimum 18 months but would be best to have 2 years worth. Be 100% committed and able to make 100 prospecting calls a day, everyday, week-in... and week-out for at least your first two years. Don’t kid yourself about this. You will fail and waste a ton of time and money if you don’t do this. There’s no gaming the system here. CRE deals take a lot of time and they die frequently. That means the sweet deal that took you 6 months to list, and another 6-12 months to get in contract has a high likelihood of falling apart. You were counting on that big check to keep you going and now it’s dead. Now you see why you need major savings to make this all happen? Be prepared to work 12+ hours a day. Again, not a joke. If this bothers you, don’t even think about applying here. You will be placed with a senior broker who will act as your mentor and help you get deals done. However, be very very selective about who you choose. The wrong mentor can completely screw your career path here. Don’t just pick them based on their title and production volume. Some of the biggest guys have no idea how to mentor others and will treat you very poorly. Also, the contract between you and your mentor will be sold to you as very good for you. It’s not. It’s highly skewed in the favor of the mentor (because he’s devoting so much time to your development - yeah right). Let me explain further. You’re struggling to survive and put some cash in the bank but your mentor takes in the lions share of commission from your deals, even though he’s already rich. It’s not right and don’t let them BS you into thinking it is. Here are some real examples from my deals: a.) I made $30K and my mentor made $120K on my deal which took almost 2 years to get done. b.) I worked almost all my mentors deals for him which means fielding calls, taking buyers on tours, reading and analyzing leases, and countless other things. I’d make $3K while he made $150-$250K. The other factor to remember about your mentorship and this firm is that they keep the relationships you build. Every proposal/valuation is tracked and followed up on. Deals you spent months or years developing end up being sold by your mentor when you’re gone. The senior brokers here have a very sweet thing going on. Lastly, management can be good or bad depending on which office you’re at. Regardless, they will always favor the senior brokers, which makes sense. You must approach this business as a complete professional and hold yourself very accountable. If you don’t act like an adult here, you will be treated like a child. So should you give it a shot? For some it’s life changing and dream making. Only you can know if you’re cut out for it. Good luck!

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    Advice to Management

    You have the makings of a great company but how you develop new brokers needs to be reconsidered. You’re spending tremendous time and resources on training and space but losing 90% of these guys. Yes, some are just not cut out for it but you’ve lost many who would have been outstanding brokers and generated substantially for the firm. Think about paying a decent salary ($50K+) while your new people ramp up. Treat... them as professionals and educate them on the whole CRE landscape - develop them into elite deal makers and consultants - you have all the resources. Make the splits better for new guys. They’re the ones who need the money to keep going. Overall, consider what such a culture shift would do for how people feel about working here. Consider what reducing a 90% attrition rate to 40% would look like in new revenue.

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    Marcus & Millichap2018-09-02
  7. "Associate Broker"

    StarStarStarStarStar
    Former Employee - Anonymous Employee 
    Doesn't Recommend
    Negative Outlook
    Approves of CEO

    I worked at Marcus & Millichap full-time

    Pros

    they offer extensive training and they provide you with a mentor

    Cons

    100% commission depending on the team you pick. you have to buy everything you'd need at your desk (computer, keyboards, mouse, pens, paper, etc.) you also start to feel like just a number with amount of turnover in firm. a lot of internal competition as well as external.

    Marcus & Millichap2018-08-16
  8. "Flexible Work Schedule, Supportive Management"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Compensation and Benefits
    • Senior Management
    Current Contractor - Associate in Orlando, FL
    Recommends
    Approves of CEO

    I have been working at Marcus & Millichap for more than a year

    Pros

    - You have the ability to set your own work schedule - There is no upward limit on the amount of money that you can earn - Excellent training program - Firm provides the software you need to get your business started - Supportive environment for women. I am currently 8 months pregnant and though I am currently the only female broker in the office, my regional manager (RM), business partners, and colleagues have... been extremely supportive of me in my pregnancy. When I asked for six weeks maternity leave, the RM suggested that I may want to take 3-4 months instead. Everyone has been very understanding and supportive of my need to start working part-time from home now and I have not felt any discrimination at all from anyone in the office. Though it is definitely a predominantly male environment, my colleagues are gentlemen.

    Show More

    Cons

    - Compensation is 100% commission-based and it takes time to build your business. (I did not get my first check until my 13th month; 9-12 months is typical.)

    Advice to Management

    Continue your trend of increasing the diversity in the office. Target more recruiting toward women: the flexible schedules, high earning potential, and client-based work environment would be very attractive job attributes for many women.

    Marcus & Millichap2017-04-10
  9. "Investment associate"

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

    I have been working at Marcus & Millichap full-time

    Pros

    Lots of flexibility, you pick your schedule

    Cons

    100% commission, so feast or famine

    Marcus & Millichap2017-02-15
  10. "Broker Associate"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
     

    I worked at Marcus & Millichap

    Pros

    Informative training and potential to make as much money as you want

    Cons

    100% commission, boiler room type of office

    Marcus & Millichap2016-10-11
Found 21 reviews