Navigating the Marcus & Millichap Internship: A Guide to Requirements and Opportunities

Marcus & Millichap, a prominent name in commercial real estate (CRE), offers internship programs designed to cultivate future leaders in the industry. This article delves into the requirements, structure, and benefits of the Marcus & Millichap internship, providing a comprehensive overview for prospective applicants.

Marcus & Millichap: An Overview

Founded in 1971, Marcus & Millichap (NYSE: MMI) stands as the industry’s largest firm specializing in real estate investment sales and financing, as well as a leading source of research and advisory services. With nearly 1,700 investment sales and financing professionals in over 80 offices across the United States and Canada, the firm focuses exclusively on investment sales, financing, research, and advisory services. Marcus & Millichap prides itself on closing more transactions than any other real estate investment brokerage firm in the nation. For instance, in 2024, the firm closed 7,836 transactions with a sales volume of approximately $49 billion, and 8,297 transactions with a sales volume of approximately $48 billion in 2023.

Internship Programs Offered

Marcus & Millichap offers two primary internship programs:

Investment Brokerage Internship: An eight-week, paid, corporate-sponsored program designed for rising college juniors and seniors.
Sales Intern Program (SIP): A 12-month, hourly-paid position for licensed new recruits training for a career in investment brokerage.

Investment Brokerage Internship: A Deep Dive

The Marcus & Millichap Investment Brokerage Internship is a paid, eight-week, corporate-sponsored program designed for rising college juniors and seniors. This program offers a direct pathway to prepare for a career in commercial real estate (CRE) by working directly with established, successful brokers and capital markets professionals.

Program Structure and Objectives

The internship program is architected to immerse participants in various facets of the real estate domain, ranging from market dissection to property valuation. The internship program is conceived to span the chasm between theoretical erudition and pragmatic application. Interns are entrusted with substantive projects that contribute to the company’s imperatives. Beyond day-to-day tasks and projects, the program encompasses workshops and training sessions created to refine skills such as negotiation, communication, and market scrutiny.

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Benefits of the Investment Brokerage Internship

Interning with Marcus & Millichap proffers more than just a vocational encounter, it’s an immersion into the company’s ethos and principles. The Marcus & Millichap internship stands as a zenith in real estate progression. It amalgamates a learning environment, mentoring, networking opportunities, tangible assignments, vocational advancement, and a dedication to corporate principles. For those seeking not merely an internship but a metamorphic sojourn in the real estate milieu, Marcus & Millichap emerges as an exemplary choice.

Sales Intern Program (SIP): A Comprehensive Training Ground

The Sales Intern Program ('SIP') helps qualified, licensed new recruits train for a career in investment brokerage while earning an hourly wage for up to 12 months as he/she supports the business of, and learns from, a productive mentoring agent.

Key Responsibilities and Expectations

The main responsibility of the intern will be assisting Senior Agents with marketing, data aggregation, client proposals and pricing analysis as well as assist in making introductory relationship calls. Most importantly, they will be provided the opportunity to eventually enter our Sales Agent Training Program, learn the investment real estate industry from the best, and become an Investment Associate. It is anticipated that the intern will work in this position for at least 12 months and then begin the Sales Agent Training Program.

Through mentorship by a successful senior broker, program participants (known internally as SIPs) complete marketing, analytical, and administrative tasks while gaining industry expertise in the following areas:

Applying Marcus & Millichap's value proposition at all stages of the brokerage continuum
Achieving fluency in Marcus & Millichap's proprietary software and industry programs
Developing and building client databases and referral networks
Performing underwriting and analysis of commercial properties to create effective marketing proposals
Successfully communicating with clients, attorneys, lenders, and all other parties involved in a commercial real estate transaction
Developing confidence in cold calling, networking, and building productive relationships
Sharpening negotiation, strategy, and transactional management skill sets
Preparing a personal financial plan, budget, and goals
Understanding the benefits of financing with Marcus & Millichap Capital Corporation

Program Overview: Key Details

Duration: 1 year
Selection Criteria: Ideal candidates are college graduates who possess strong sales skills, a real estate license in the state in which they are located, and a desire to be entrepreneurial salespeople and compensated on a commission basis.
Selection Process: The competitive selection process occurs on a rolling basis and involves completing an application and interviewing with the Regional Manager and Mentoring Agent of a local Marcus & Millichap office.
Compensation: An hourly wage is provided for participants to commit to the rigors of the training and sustain themselves as they grow in their skillset and develop a pipeline to effectively launch their careers. Program participants may have the opportunity to earn additional income as they begin to contribute to the successful deal making of mentoring agents. Program participants are eligible to participate in many of Marcus & Millichap's benefit offerings.

Ideal Candidate Profile for SIP

Applicants should be ambitious, have an entrepreneurial spirit, a college degree, a California real estate license, and possess strong analytical and business development skills.

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Compensation and Benefits

Both internship programs offer compensation, with the Investment Brokerage Internship being a paid program and the SIP program offering an hourly wage. The SIP program also provides opportunities for additional income based on contributions to successful deals and eligibility for Marcus & Millichap's benefit offerings. The hourly pay for the SIP position is $20/hour (non-exempt). This is a part-time internship opportunity for students or recent grads looking to gain hands-on experience.

How to Apply

The selection process for both internships is competitive. For the SIP program, the selection process occurs on a rolling basis and involves completing an application and interviewing with the Regional Manager and Mentoring Agent of a local Marcus & Millichap office. Interested candidates should monitor the Marcus & Millichap careers page for specific internship postings and application instructions.

Equal Opportunity Employer

Marcus & Millichap provides equal employment opportunities to all employees and applicants for employment without discrimination with regard to race, religious belief (including dress or grooming practices), color, sex, sex stereotype, pregnancy, childbirth or related medical conditions (including breast feeding), age, national origin, ancestry, sexual orientation, gender identification and expression, transgender status, physical or mental disability, medical condition, genetic characteristics, genetic information, family care, marital status, enrollment in any public assistance program, status as military, a veteran or qualified disabled veteran, status as an unpaid intern or volunteer, or any other classification protected by law. The firm also prohibits discrimination based on the perception that anyone has any of those characteristics, or is associated with a person who has or is perceived as having any of those characteristics. In addition to federal law requirements, Marcus & Millichap complies with applicable state and local laws governing nondiscrimination in employment in every location in which the company has facilities.

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