Skip to main content

Unleashing the potential of tomorrow’s commercial real estate leaders

WILLIAM A. Millichap fellowship

The William A. Millichap Fellowship

The William A. Millichap Fellowship Program is a rigorous 24-month training and development program for up-and-coming commercial real estate (CRE) professionals. The program combines training and mentoring with direct hands-on experience in CRE sales and financing. Fellows work full-time engaging in experiential education and cross-departmental learning opportunities, attending workshops led by industry executives, taking courses through Marcus & Millichap University, and shadowing top advisors and managers within the firm.

The Fellowship honors the late William A. Millichap, co-founder of Marcus & Millichap and a driving force behind the company’s advancement in innovation, leadership, and technology. Mr. Millichap is remembered for being innovation-focused and playing a key role in the professionalization and technical evolution of the commercial brokerage industry. The Fellowship was created to inspire future commercial real estate leaders.

Program overview

The first 12 months are segmented into four phases with specific learning objectives. The phases progressively build upon critical research, financial analysis, marketing, and relationship-building skills. With the help of an executive coach, Fellows choose a career concentration. The second year is focused on specialized training in this area of concentration.


On Day 1, you’ll be assigned an Executive Coach who is dedicated to your successful completion of the Fellowship and who will guide you throughout the program’s duration. Your coach will also help you select your property type and market concentration.


In addition to experiencing the day-to-day operations of different Marcus & Millichap departments, you’ll take courses on Marcus & Millichap University that focus on the essentials of the investment brokerage business and learn how to use our suite of brokerage tools.


You’ll have access to comprehensive, case-based courses that will help you master real estate financial modeling and enhance your ability to present your underwriting.


Through Luminary Sessions, interactive workshops led by outside industry experts and Marcus & Millichap executives, you’ll get insider intel and in-depth information on topics touched on in training.


After you have gained an understanding of the investment brokerage business and honed your sales skills, mentors will guide you through the transactional continuum of live deals from the first business development call to the closing table.


Gain access to owners, investors, developers, and national leaders in the commercial real estate field and expand your network through professional development activities.


After completing the Fellowship, we will continue to provide the coaching and support necessary for you to build an exceptionally successful long-term career, helping you to achieve superior results for your clients and to exceed their expectations.


Available Locations

The Fellowship will be offered exclusively in the following cities:

Canada

  • Montreal
  • Toronto
  • Vancouver

Pacific Northwest 

  • Portland
  • Seattle

Northern California

  • Palo Alto
  • Sacramento
  • San Francisco

Southern California

  • Encino
  • Inland Empire
  • Los Angeles
  • Orange County
  • San Diego
  • South Bay


Mountain

  • Denver
  • Salt Lake City

Southwest

  • Las Vegas
  • Phoenix

Midwest

  • Chicago Downtown
  • Chicago Oakbrook
  • Cleveland
  • Indianapolis
  • Milwaukee
  • St. Louis

Texas

  • Austin
  • Dallas
  • Houston

New England

  • Boston

New York Tri-State

  • Brooklyn
  • Manhattan
  • New Jersey

Mid-Atlantic

  • Philadelphia
  • Washington D.C.

Southeast

  • Atlanta
  • Charleston
  • Nashville

Florida

  • Ft. Lauderdale
  • Orlando
  • Tampa

2025 fellowship

Selection criteria

The highly coveted William A. Millichap Fellowship is designed for driven individuals. Admission to the program is very selective and competitive. Only a small fraction of the total number of applicants are admitted each year. Fellows enjoy a competitive annual salary during the two-year term of their Fellowship, as well as a comprehensive benefits package.

Candidates should have the following traits, skills, and/or experience:


Action-oriented

Takes initiative and thrives in an entrepreneurial environment.


Communication

Excellent communication skills: verbal, written and presentation.


Track record

Has completed something challenging and noteworthy.



Qualifications

Bachelor’s or graduate degree in real estate, business, finance, sales, marketing, or equivalent professional experience.


Commitment

Demonstrated commitment and interest in real estate via related coursework, licenses, internship experience, etc.


Core values

Possesses attributes aligned with our core values: Excellence, Perseverance, Collaboration, Gratitude and Camaraderie.


Selection process


Round 1

Application

Interested individuals are invited to complete an application which includes a statement of intent. The Selection Committee looks for demonstrated leadership and interpersonal skills, prior academic performance, extracurricular and community involvement, focuses, and goals.


Round 2

Interview

The Selection Committee will contact those candidates whose applications indicate a potential match with the nature of the Fellowship and expectations for Marcus & Millichap employees. Several candidates will be invited to interview with a member of the Advisory Board.


Round 3

Final committee review

A group of finalists will be considered by the Selection Committee. Finalists will be informed of their status and a select few will be invited to become William A. Millichap Fellows.


Key dates

The selection process will occur once a year.

Cohort 2025

Will Commence in July 2025

Apply Now

Own your career path

UP NEXT

FAQs


The William A. Millichap Fellowship prepares its participants to launch a career in investment real estate sales, capital markets advisory, financial analysis, marketing/branding and sales leadership/management. The expectation is that upon completion of the program, participants will commence their career with Marcus & Millichap in their chosen specialization and be positioned for success in their service of clients.

Candidates are asked to submit the required initial information on the Apply Now page and to upload a current resume, two letters of recommendation, and a statement describing their interest in a career in commercial real estate. Candidates will also be asked to complete a short test on Marcus & Millichap’s value proposition.

While we don’t publish acceptance rates, admission to the program is extremely competitive and granted to those who demonstrate they are truly qualified via their track record of accomplishment and demonstrated commitment to this career path.

No, Fellows are not responsible for any training-related fees.

Marcus & Millichap wants Fellows to have access to the top leaders and mentors within the firm. Therefore, the Fellowship will be offered in these cities.

Applicants who do not currently reside in these cities but who will move if offered a position will be considered. Candidates interested in another locale can still apply and their applications will be considered as the program expands to offices in other cities.

No. If Fellows choose to relocate, they are responsible for the related costs.

No, Fellows are responsible for their own housing arrangements.

In addition to an Executive Coach and mentors who guide Fellows throughout the program, Fellows will also have access to all Marcus & Millichap training resources, research materials, and databasing and marketing tools. The program also includes resources and workshops from our industry partners and external professional development and networking opportunities. After completing the program, Fellows are prepared to apply their product knowledge and investment real estate expertise to deliver clients with individualized and comprehensive advice.

The compensation structure is designed to support Fellows as they grow in their skillset and develop a pipeline to effectively launch their careers. Fellows will be full time employees of Marcus & Millichap in the first year of the Fellowship with competitive salary and benefits. In year two, they will launch their career into investment sales, be independent contractors and offered a draw against future commissions. Incentive opportunities will also be possible with excellent performance.