William A. Millichap Fellowship - 2026 Cohort
Multiple Locations
Corporate – William A. Millichap Fellowship /
Full-time /
On-site
This is a full-time, non-exempt (hourly), in-office position designed for recent college graduates or individuals new to commercial real estate. This application is for the cohort beginning in Summer 2026.
The William A. Millichap Fellowship Program is a selective 24-month training and development experience for aspiring commercial real estate professionals. Named in honor of the late William A. Millichap—co-founder of Marcus & Millichap and a pioneer in innovation, leadership, and technology—the program blends rigorous training, mentoring, and hands-on experience in investment sales and financing.
Fellows work full-time and engage in cross-departmental learning, executive-led workshops, coursework through Marcus & Millichap University, and shadowing top-performing advisors and managers.
Sample responsibilities include:
· Applying Marcus & Millichap’s value proposition across the brokerage continuum
· Mastering proprietary software and industry tools
· Building client databases and referral networks
· Underwriting and analyzing commercial properties
· Communicating with clients, attorneys, lenders, and other transaction parties
· Developing skills in cold calling, networking, and relationship building
· Enhancing negotiation, strategy, and transaction management capabilities
· Understanding financing options through Marcus & Millichap Capital Corporation
Selection Criteria: Ideal candidates are college graduates with strong sales aptitude, a real estate license (or in progress), and a desire to pursue a commission-based career in real estate.
Selection Process: Applicants must complete the application, submit a resume, statement of intent, and a completed questionnaire (downloadable here). Two letters of recommendation are strongly encouraged and may be submitted later. Subsequent application rounds include interviews with company executives and an Underwriting Proficiency Test.
Compensation: Year one includes an hourly wage to support fellows during training and development. In year two, fellows transition into investment sales as independent contractors with a draw against future commissions. Incentive opportunities are also possible with excellent performance.
$24 - $29 an hour
Our mission is to help our clients create and preserve wealth by providing the best real estate investment sales, financing, research, and advisory services available.
Founded in 1971, Marcus & Millichap (NYSE: MMI) is a leading commercial real estate brokerage firm focusing exclusively on investment sales, financing, research, and advisory services, with nearly 1,700 investment sales and financing professionals in 80+ offices throughout the United States and Canada.
Marcus & Millichap closes more transactions than any other real estate investment brokerage firm nationwide. In 2024, the firm closed 7,836 transactions with a sales volume of approximately $49 billion.
The firm has perfected a powerful property marketing system that integrates broker specialization by property type and market area; the industry’s most comprehensive investment research; a long-standing culture of information sharing; relationships with the largest pool of qualified investors; and state-of-the-art technology that matches buyers and sellers.
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. We also prohibit 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. This policy applies to all terms and conditions of employment, including recruiting, hiring, placement, promotion, termination, layoff, recall, transfer, leaves of absence, compensation and training.
