So I accepted an offer to work in a REPE firm. They focus on acquisitions, asset management, and portfolio management. Their portfolio is office, multifamily, and retail. They do not do any brokerage. Now when I tell people I will be working in real estate, the first question I get asked is "Oh, so you're going to be a realtor?" And it's understandable when my parents and their friends ask me as they've never worked in corporate or went to college but when I have friends that are studying architecture ask me that, it's annoying. Like c'mon man. You should know better. You're literally designing office buildings lol.
Anyways, do you guys think it'd be wrong or deceitful or misleading to say I work in private equity or finance? My only worry is I tell someone in Finance I work in finance or private equity and when they realize I'm in CRE, they think I was trying to make it sound like I do something else. Obviously, I know this is a pretty unnecessary thing to even waste my time thinking about because it doesn't really matter what people think I do. I'm just curious because I have seen other people also being annoyed by being called realtors lol.
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There is absolutely nothing wrong with saying you work in finance or private equity. Real estate is an asset class/coverage area within finance, just as tech, healthcare, industrials, consumer retail, etc.
No need to feel dishonest. Real estate is seen as separate because it's so distinct, but it's indisputably finance.
Well.. I wouldn't say it's wrong to say you're in finance / private equity but it's just not the most direct answer I guess. A little bit like when a dentist says he's a doctor? I mean he's by no means wrong in any sense of the word but it's not the best description of what he does. Feel like what's best is just say you work in real estate private equity ("doctor for teeth").
Congrats on the job!!! Oh, I've actually been thinking about selling my house, would you like to come by this weekend and tell me what you think?
Same. Everyone thinks I want to sell houses (nothing wrong with selling houses) for a living. We're not fancy high finance people, we're in real estate, well you are, I'm just an intern. The fact that people don't really know what you do is something you'll just have to learn to live with. When an IB/PE/HF guy tells a girl what he does, the panties come off instantly. You tell a girl you're in real estate...well... you gotta try a little harder is all I'll say. Just know you're not alone, plenty of people can empathize with you.
The main thing about money, Bud, is that it makes you do things you don't want to do.
Does CRE not count as high finance? Specifically REPE?
yes it does, 100%
It does, I'm just messing around. Don't be so insecure about this lmao.
The main thing about money, Bud, is that it makes you do things you don't want to do.
This is too personal MaxEbic , I feel for you man!
Yeah, you need to take a girl to a fancy restaurant or bar and tell her "Yeah actually my company built this. We spent $100K on this marble floor and $50K on the water fountain outside"
Even though I was joking, this is a pretty good idea ngl.
The main thing about money, Bud, is that it makes you do things you don't want to do.
Just say you work in CRE finance.
LOL, this post!
Seriously, I'm not sure what you are hoping for. "Regular" people have no idea about the world of high finance, real estate, development, or practically anything else. Tell them you work in finance, they will ask if you can help them open a checking account. Tell them you work on Wall Street and they will ask you if they should buy shares in Apple. It really doesn't change. If you think people outside this world understand investment banking, hedge funds (a meaningless term by itself), private equity, I can promise you they don't.
So you really have two choices, keep it simple.... say "I work in real estate" and let them think you sell houses (if you say real estate finance, they will ask if they should refi their mortgage). Or if you want to blow their mind... say "I work in office acquisitions" "capital markets" "asset management" or anything else more technical... just like you would at a networking event of real estate people. They will then either A. be interested (and you can explain), or B. say something like "oh that's nice" and go back to their lives (they will think you have some office job filing TPS reports all day).
Trust me, the sooner you get to not caring, the better. Personally, I just say "I work in real estate development" and usually get a blank stare or maybe ask if I could help them with an addition on their house. Either way, I don't care. Depending on who I'm talking to, I'll just have fun with it.
I know it's a stupid thought but it's there so I was curious to see what others on the forum think. I definitely see what you're saying, when I talk to my friends back home about investment banking and other high finance roles, they have no idea what that even is. The funniest to me is after they ask if I'm a realtor and I clarify I'm in COMMERCIAL real estate, they say "Ohhh, commercial real estate" as if that all of a sudden made them understand lol. And I definitely don't let it get to me, but I'm getting to the point where it's funny to me. Appreciate your thoughts!
ha, forgot about saying "I work in commercial real estate", I guess that works.
Only problem with that one is if you encounter someone in the actual real estate business, they will then assume you are a "Commercial Realtor" because no industry person would say that to another!
Decisions, decisions...