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Associate Broker (Chicago) - Commercial Real Estate

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Northmarq

3mo ago

  • Job
    Full-time
    Entry Level
  • Sales & Business Development
    Real Estate & Property
  • Chicago

AI generated summary

  • You need investment sales experience, strong negotiation skills, a relevant degree, and a current real estate license. Must be self-motivated, ethical, and able to handle multiple projects.
  • You will market to clients, create a business plan, prepare underwriting packages, learn market dynamics, manage databases, prospect calls, and collaborate closely with a mentor.

Requirements

  • Investment Sales experience preferred.
  • Relationship building and sales skills are essential, with demonstrated results given significant consideration.
  • Negotiation and influencing skills and the ability to resolve issues that may arise in a deal are needed.
  • Knowledge of commercial real estate underwriting techniques, understanding of the financial characteristics of multifamily property types, and ability to understand and advise clients in complex decision-making processes.
  • 4-year college degree, preferred degrees will include finance, marketing, real estate, business promotion, and general business, but any degree program will be considered.
  • Ability to work independently and stay motivated.
  • Strong work ethic and willingness to work extended hours when necessary.
  • Ability to handle multiple projects and assignments; able to prioritize and meet deadlines.
  • Effective verbal and written communication skills.
  • Strong problem-solving and solution-finding skills to reflect level of responsibilities.
  • Ability to maintain sensitive and confidential information.
  • The candidate must hold a current valid real estate license in the state where they will work prior to starting the program or be willing to obtain one within the first 120 days of beginning the AB program.

Responsibilities

  • Marketing to new and/or under-marketed clients, with a goal of generating new business.
  • Creating and building AB’s individual Business Plan, that will include, as a minimum, a detailed plan on Relationship Building and Learning the Business.
  • Responsible for understanding and also preparing underwriting packages for investment real estate.
  • Responsible for learning the real estate market and sub-markets of Newport Beach, including getting to know brokers, title company employees, insurance agents, and others who can contribute to general market knowledge and marketing success.
  • Responsible for learning about deal structure, in all aspects of the prospecting and listing process.
  • Ability to establish priorities and support the “Mentor/Coach” and objectives for the local office.
  • The AB will assist the office’s lead underwriter by learning company templates, interpreting owner’s financial statements, performing rent and sales surveys, and developing pricing skills. Additional learning at this time includes how physical attributes of properties affect values.
  • Database management, updating the office’s database with recent sales, ownership, and contact information. Develop a knowledge base of local market conditions, ownership, and sales inventory.
  • Prospect calling to prospective purchasers, leading to calling owners to prospect for listings, initially with the support and coaching from their MD or Senior Broker (mentor/coach).
  • The AB will follow the same program as outlined in 1st year, expanding their market reach, and improving their market knowledge and skills, with daily activities closely monitored by the Managing Director or other senior broker (mentor/coach).

FAQs

What is the main responsibility of an Associate Broker at Northmarq?

The main responsibility of an Associate Broker at Northmarq is to support the Investment Sales team, primarily focusing on Multifamily Investment Sales, while closely collaborating with senior brokers to generate new business and gain industry experience.

Is this position remote or in-person?

This position is an in-office position, requiring the Associate Broker to work from the Chicago office.

What qualifications are required for the Associate Broker role?

Candidates should have a 4-year college degree (preferred fields include finance, marketing, real estate, or business) and must hold a current valid real estate license in the state of Illinois prior to starting the program or be willing to obtain one within the first 120 days.

Is investment sales experience required for this position?

Investment sales experience is preferred but not strictly required; the role is also suitable for motivated individuals who are eager to learn and grow within the commercial real estate field.

What types of skills are important for this role?

Essential skills include relationship building, sales skills, negotiation and influencing skills, effective verbal and written communication skills, strong problem-solving abilities, and the capacity to handle multiple projects and meet deadlines.

What kind of training and support can an Associate Broker expect?

An Associate Broker can expect best-in-class training, mentorship from experienced brokers, and resources dedicated to their career development through the Associate Broker program, which is structured to facilitate skill building and career advancement.

What is the career progression for an Associate Broker at Northmarq?

The career progression for an Associate Broker includes gaining experience and building a client base in the first and second years, with the potential for advancement to a full Broker role as they develop their skills and establish relationships in the industry.

Does Northmarq offer benefits to its employees?

Yes, Northmarq offers a highly competitive benefits package, including medical, dental, vision coverage, paid time off, a 401K match, paid parental leave, education assistance, and more.

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Northmarq

Real Estate
Industry
1001-5000
Employees

Mission & Purpose

For nearly 60 years, Northmarq has provided debt, equity, and loan servicing to commercial real estate owners and investors through our offices across the U.S. Our investment sales platform offers acquisition and disposition services for multifamily assets in select markets. Find our local market experts at www.northmarq.com/offices. We offer clients the ideal combination of a strong national company capable of attracting a wide range of capital sources, a personalized approach to buying and selling multifamily properties, exceptional knowledge of local markets, and a robust loan servicing operation to manage the life of every loan. With decades of expertise built on strong relationships, employees find that Northmarq is a challenging yet supportive workplace where they are able to advance their career aspirations and future. Discover what it's like to work here: https://youtu.be/jhAKDGQF8eY