Savills Starts Junior Broker Development Program

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Savills has started a Junior Broker Development Program aimed to give graduates fresh out of college the chance to rotate through the brokerage’s different departments and end up with full-time jobs.

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The inaugural class began this week with eight people in Savills’ New York City office and two in its Washington, D.C., outpost. Trainees will get a chance to work in Savills’ tenant representation, research, tenant advisory, industrial services, capital markets, portfolio solutions, consulting, workplace strategy and client technology as part of the 15-month program.

“In an uncertain time, we are offering these young professionals with a passion for commercial real estate a realistic pathway to break into a notoriously challenging industry,” Janet Woods, Savills’ Northeast region head who is leading the program nationally, said. “Not only will they be afforded a comprehensive education on the business, but they will also be paid a full salary in the process.”

Several other brokerages already have similar rotational programs in place — including CBRE’s competitive Wheel Program. Savills’ Gabe Marans, who manages the program in New York City, said the goal with its program is to offer full-time positions to trainees ”while alleviating the financial burden in the early stages of brokerage careers.”

Savills also touted that its inaugural class is very diverse, helping to tackle the real estate industry’s long-standing diversity problem.

The brokerage plans to expand the program to its other offices around the country and will start recruitment efforts for its second class soon.