MM Interview Prep Flashcards

M&M Interview Prep Flashcards Why do you want to be in a sales role?1. I want to be client facing2. While I am young and not constrained by family obligations, I feel like it is the perfect time for be to be in a fast paced and rigorous environment with other likeminded, eager individuals3. I am motivated by being rewarded for my accomplishments (coin operated)4. I want to make a lot of money for myself and the firm5. I want to establish myself in the south florida market and build my connections How does Marcus & Millichap's scale benefit sellers?Sellers will gain access to the largest pool of qualified investors and a marketing platform with proven results.Marcus & Millichap's size and transaction volume gives the firm scale to clear the entire market. The firm's highly influential relationships with lenders means that no other firm can provide broader exposure on the market, or more opportunities to find the right deal.What is Marcus & Millichap's mission statement? To help clients create and preserve wealth by providing the best real estate investment sales, financing, research, and advisory services available, and ensuring that every property and client are matched with the largest pool of qualified buyers What makes Marcus & Millichap unique from other brokerages?

• They provide both brokerage as well as financing

services2. The company has access to the largest inventory and pool of investors, as well as an impressive marketing platform with influential relationships3. The firm also promotes specialization, therefore resulting in exceptionally knowledgable brokers, even in niche markets4. Finally, the firm was founded on a unique set of principles to maximize value for real estate investors, and in the process, revolutionized the brokerage industry.What is your goal?I want to become a top producer at M&M which means that

over the next couple years my goals include:- creating

connections in South Fl- finding my niche/specialization- knowing my product inside & out- creating a great reputation for myselfWhen people hear my name I want them to think Sofee knows her stuff, she is professional, knowledgable, efficient, trustworthy, and reputable What are the Fellowship's values and culture? 1. Excellence (high standards)2. Perseverance3.Collaboration4. Gratitude5. Camaraderie How many offices and investment specialists does the firm have?80+ offices and 2,000+ specialists

Describe Marcus & Millichap's specialty groups. The formation of specialty groups within the firm to service specific product niches allows the firm to be uniquely positioned to dominate various markets.The firm's specialty

groups include:apartments, retail, net lease, office,

industrial, hospitality/golf, student housing, seniors housing, self-storage, medical office, affordable housing, manufactured housing, and land redevelopment.

What makes you special?Combination of:1. Growing up in a family that does real

estate and it being my second nature2. Schooling - most people major in Finance, but I was able to major in Real Estate Finance and take classes about market analysis, financial analysis, and ARGUS which gives me an edge over just finance majors3. Loads of experience in the different areas of the industry from underwriting to closing to asset management, and now at the LLSD I feel like I have a very solid understanding of the process as a whole and I think that is super important to not only understand the industry but to also understand the processes of how a deal is actually closed.4. Personality - appreciate criticism, I like a challenge, I have high standards for success, I am very persistent and resilient yet professional and composed and able to carry myself in a respectable manner5.Genuine interest in the roleI hope all these things combined show my genuine interest and capability for this role. I know this is a competitive program and I know you have many qualified applicants but I think my specific combination of experience, education, family, genuine interest illustrate how well my goals align with the company's.What is your current role?At the LLSD I...1. Assist originators in preparing a detailed and reasonable loan package.2. Communicate directly with the agencies to provide additional support when they have doubts/questions about certain aspects of a deal.3. Overall make sure that the agencies are satisfied with our submission package while also securing the pricing needed for our originators to win the deal.What is the Marcus & Millichap Fellowship mission statement?To arm future leaders with the training, coaching, tools, and resources they need to excel in their career journey and confidently deliver exceptional results.Tell me about yourself...- I just graduated in May from the University of Miami with a degree in real estate finance and law- I have had a handful of internships in underwriting, closing, and asset management, so from that cumulative experience I've learned that i want to be on the front end of things and eventually make my way into investment sales- I am

currently working at Greystone at the LLSD where I am learning a lot about the products that agencies are offering in today's market and serving as the middle man between the originators and the agencies When was Marcus & Millichap founded?1971 What trends are you seeing in the market? 1. Agencies (FNMA) becoming a lot stricter on property condition, however when we come across an opportunity that is a brand new Class A near-stab property, they don't want to lean in on pricing2. We are also not doing brokered

business right now for other reasons (fraud) this is going to increase queue times even more3. So i think this speaks to the overall market because there isn't really a green zone right now where both the buyer and seller are happy.4. I think we are going through a period of recalibration of property values and it will be challenging Who are the firm's founders?George M. Marcus & William A. Millichap What is the sales process from a Broker POV? 1. Present BPV (Broker Opinion of Value)2. Negotiate listing agreement w owners (when agreed on, you will be