The word ‘research’ should not be in the job title. It does not matter what industry this is – you are dealing with individual data points and have absolutely no association with a larger picture of real estate or markets. Your ‘research’ mostly includes google, maybe a couple government websites, and cross-referencing individual data points on our own websites. If you ever took a research methods class you will quickly learn that the definition of research at CoStar greatly differs from what you had learned it to be. And primarily, you are calling, calling, calling, calling – calling those who mostly have better things to do. And since your training involves little more than basic knowledge of anything in the industry, and you are used to being belittled on the phone, you come off as a scared buffoon.
You will learn very (very) rudimentary basics of commercial real estate – and that is where the resume builders end. As we were explained to after a company wide survey (the results of which made it vividly clear that 1. No Research Associate believes there is any career growth and 2. Senior Management is awful), you learning new skills (SQL, Excel, Economics/Finance of RE) is not a business need. Although this may be true, people should not be treated as cattle. As with many businesses, concessions are made to employees to foster happiness. And I’m not talking about money – I’m referring to helping people develop careers. Further, is it not a smart business decision to maximize the knowledge of your employees?
Every tweak to the research process introduces a new mind-numbing task. Research Associates are prevented from learning any new skills or learning about anything in their market.
Literally, your job is data entry, following scripts, and smiling – and I can’t emphasize this last point enough. Leadership is synonymous with the perception of an uppity-up personality. Include smiles, flamboyant language in your e-mails, drink-kool-aid, and tell everyone you had the most relaxing weekend (but it was too short, though!!), and you are on your way to Research Associate II! You can taste the repressed emotions on your tongue; the attuned psychologist would have a field day here.
Let’s dive into the culture of anti-intellectualism, shall we? Any criticisms of the research process are greeted with some pre-packaged platitude. For instance, if you state that an over-emphasis on one metric is side-lining work on a different metric, a common rebuttal is, “Just try a little harder.” Or perhaps, “Start working right away; the early bird gets the worm!” You will NEVER see actual statistics with SOUND methodology that relate the best research practices. Perhaps because what you do here is not research. At least in the military you understand that there is some kind of purpose behind what you do.
I love the tag-line of CoStar’s website: “Knowledge Market.” You have to be kidding me. I’ll give you a perfect example to illustrate my concerns with this tag-line: About two years ago CoStar released a new analytical product that gave insights into CRE micro-markets. Research MANAGERS were responsible for initial edits of this content. They were only the initial editors for little over a few months. Why? The Research Managers had no idea what was actually happening in their markets (DC, NY, Baltimore) and could offer no valuable feedback. The products were horrendous and apparently upper management was naïve enough to think that Research Managers are more than glorified cheerleaders. The Research Manager’s day consists of sending out e-mails such as “this guy has 15 calls already! Who can catch him?!” I am not joking. That is actually the childish motivating tactic used by most managers at the DC Center. That and standing up and bellowing, "kind of quiet in here!" Meaning you should pick up your phone and aimlessly call admins. Kind of similar to a 3rd grade classroom when the teacher walks in and says, "why is it so loud in here?" as a way of getting the room to quiet. Or other emails Managers send out telling you to not text while working -- I haven't had this kind of discussion since high school.
You work a kind-of-job. You have no power, real responsibility, and are, at best, a half-realized supplement to any commercial real estate professional. Lets end this review off by calling you what you really are – a secretary’s secretary. Real Estate Companies hire secretaries to deal with you. 90% of your client’s needs is extraordinarily rudimentary -- basic data points that 3rd graders can communicate to you. However, management will tell you that what you do is ‘so complex’ and brokers ‘need’ to speak with you.' False. And further, when brokers tell you that their firm has hired someone to deal with you and they don’t have time for you, and you tell your manager this, you will get the hose again.
The CoStar responses on Glassdoor have been a real treat. “CoStar is fast-paced!” or “We’re constantly changing to make things better!” No. CoStar research is an impetuous and childish institution.
If you loath creativity, are motivated by childish motivation tactics, and are okay with being a pawn – CoStar Research is the cubicle for you!
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