Josh Dicker didn’t know where his career would lead, but Northmarq helped shape the journey

When Josh Dicker graduated from the University of Michigan, he didn't look like a typical commercial real estate candidate.

He had a history degree and no industry experience. He did, however, have a genuine curiosity about the business.

Commercial real estate had caught his attention during his senior year, but job offers never came. So instead of moving home to Boston after graduation, Josh followed friends to Chicago, where he had about a month's worth of rent before he'd need to find work — whether that meant commercial real estate, bartending or waiting tables.

He applied for every commercial real estate job he could find, but he knew his résumé wasn't likely to stand out. So he came up with another plan. He started reaching out to fellow Michigan alumni working in commercial real estate, hoping a shared connection might open a door.

One of those messages went to Bryn Feller.

Josh asked if she'd be willing to meet for coffee.

The conversation lasted for about an hour.

For Feller, it was an opportunity to get to know someone whose résumé looked different from most of the aspiring brokers she met.

That conversation led to an analyst position with a NNN retail brokerage firm, where Josh began building the foundation for a career that would eventually continue at Northmarq.

How a history degree shaped Josh's career

When Josh chose to major in history at the University of Michigan, he wasn't preparing for a career in commercial real estate. He simply enjoyed writing, research and understanding why events unfolded the way they did.

Today, he sees those same skills at the center of his work.

"A history major was a lot of writing and research," Josh says. "It was about taking all of these disparate sources of information, developing a unique thesis on why something happened and supporting it with evidence."

He believes commercial real estate requires many of the same abilities. Advisors are constantly gathering information from the economy, capital markets, tenants and individual transactions, then distilling those insights into recommendations clients can act on.

Josh also credits his history degree with helping him become a stronger storyteller.

"When we're selling property or pitching owners, we're storytellers first and foremost," he says. "History is all about stories. Writing research papers is about writing convincing stories based on the information at hand."

For Josh, the degree that once made his résumé stand out for the wrong reasons ultimately became one of his greatest professional advantages.

Developing judgment

Josh started as an investment sales analyst in 2019, entering the commercial real estate industry during a period of significant market change. For someone just starting out, it could have been an intimidating time to learn the business.

Josh saw it differently.

"My goal was always to find the smartest people that I could work for with the least degree of separation between me and them," he says. "I wanted to be a sponge and learn from really smart people."

That mindset shaped how he approached every opportunity. Whether he was sitting in on client meetings, listening to investment discussions or shadowing more experienced advisors, Josh wasn't just paying attention to what happened. He wanted to understand why.

After meetings, he often had another question for Feller.

"Bryn, can we debrief?"

It became a familiar refrain.

Josh wanted to understand the thinking behind every conversation. Why did she frame an opportunity that way? Why ask that question? What led her to that recommendation?

Feller quickly realized Josh wasn't looking for easy answers.

"He had the confidence to form an opinion but the humility to ask if he was missing something," she says.

One exchange in particular has stayed with her. After reading an article in The Wall Street Journal, Josh sent Feller his thoughts on what it meant for the market before asking for hers. It wasn't simply curiosity. He was learning to develop a point of view while remaining open to another perspective.

Feller encouraged that approach.

"I wasn't trying to teach Josh what to say," she says. "I was trying to teach him how to think."

Those conversations also helped Josh discover his own approach to advising clients.

"There's plenty of stuff that works for Bryn that's just not my style," he says. "I wanted to understand why she approached things the way she did, then figure out what was authentic to me."

Getting to know Josh

Coffee or tea?
Coffee. Especially if it leads to a great conversation.

Favorite part of commercial real estate?
The opportunity to keep learning while helping clients solve complex problems.

Best career advice you've received?
Find the smartest people you can work for and learn everything you can from them.

What's one lesson you hope younger producers remember?
Don't sacrifice a great learning opportunity over starting salary. Think about your work as a career, not just a job.

How would your teammates describe you?
Curious. I’m always looking to understand not just what happened, but why.

What are you reading or following right now?
Retail earnings reports, tenant credit updates and market trends. Understanding the story behind the numbers helps me better advise clients.

Expanding the circle

At Northmarq, Josh's circle of mentors and peers grew.

He joined Northmarq's Associate Program (ADP), a 24-month program vital in developing the next generation of brokers and producers — equipping them with the skills, resources and connections needed for long-term success.

As part of the ADP, he joined a cohort of early-career producers from across the country, creating opportunities to learn not only from senior leaders but from colleagues navigating many of the same challenges.

For Josh, one of the most valuable parts of the experience was the network of peers he built along the way.

"You had a cohort of other folks who were all figuring it out together," he says. "We'd ask each other, 'How are you prospecting? What's working for you? What have you found success with?' Being able to query each other was critical."

One of those relationships was with Joe Dugoni.

Although they worked in different markets, Dugoni quickly noticed Josh's approach.

"He was super engaging," Dugoni says. "He was bought in. He wasn't just there to check a box. He wanted to contribute, and he went out of his way to build relationships with everyone in the cohort."

The conversations didn't end when the program did.

Today, Josh and Dugoni still connect regularly, comparing notes on active deals, buyer strategies and what they're seeing in their respective markets.

"Joe is in the Pacific Northwest, while many of my deals are across the country and on the East Coast," Josh says. "Comparing notes gives both of us another perspective."

What began as a learning relationship has evolved into a professional partnership.

"We started by learning alongside each other," Josh says. "Today, we've become trusted sounding boards for one another. That's why the relationship has remained so valuable."

Becoming a trusted advisor

The lessons Josh learned from mentors and peers eventually changed the conversations he was having with clients.

Rather than simply sharing market updates, he began looking for ways to connect those developments to each client's specific situation.

When Aldi acquired Winn-Dixie, he reached out to property owners with Winn-Dixie locations to explain how stronger tenant credit could affect the value of their real estate. As Kohl's financial performance weakened, he contacted Kohl's landlords to discuss what the company's changing outlook might mean for pricing and investor demand.

Those conversations became opportunities to help clients understand not just what was happening in the market, but what it meant for their investments.

That approach was put to the test during the sale of a Kohl's property in Citrus Heights, California.

The transaction stretched across more than 16 months as the market continued to evolve. During that time, Kohl's market capitalization fell from roughly $8 billion to less than $1 billion. The property was brought to market at a 6.75% cap rate and ultimately closed at 8.50%.

It became a real-world test of the lessons he'd spent years absorbing from mentors and peers alike.

"Our job isn't just to market a property," he says. "It's to help clients navigate uncertainty."

As market conditions shifted, Josh worked closely with the seller to explain what those changes meant, reset expectations and keep the transaction moving forward.

"I hope they walk away thinking we're a strategic partner — not a salesperson.

“I want clients to feel like we're thinking about their real estate as if it were our own. That means understanding their goals, looking at every angle, and bringing thoughtful solutions instead of simply reciting sales comps.

“If they leave believing we genuinely have their best interests in mind, we've done our job."

Full circle

Seven years into his career, Josh still considers himself a student of the business.

The difference today is that he's also finding himself on the other side of those conversations.

"One of the coolest parts of being in the business for seven years is having younger producers and associates ask for advice," he says. "I'm still learning every day myself, but it's rewarding to share what's worked for me."

The advice he gives reflects the path he chose himself.

"The biggest piece of advice I give is to find smart people to work for," he says. "Don't sacrifice a great learning opportunity over starting salary. The money will come."

He encourages young professionals to think beyond their first job and focus instead on building a career.

"Start thinking about your work as a career, not just a job. Once you make that mindset shift, you start investing in your long-term growth, and that's what ultimately accelerates your career."

Learn more

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