The company was founded in Palo Alto in 1971 by George M. Marcus. William Millichap was one of the first salespeople Marcus hired, and was made a partner in 1976. The company was incorporated in California on August 26, 1976 as G. M. Marcus & Company, and was renamed as Marcus & Millichap, Inc. in August 1978. In 2013, it became a public company via an initial public offering.In December 2015, Marcus & Millichap expanded its institutional property market in the areas of office and industrial with the creation of Institutional Property Advisors (IPA) In May 2016, Hassam Nadji was named Chief Executive Officer.
In 2018, Marcus & Millichap expanded its Canadian presence with the acquisition of McGill Commercial. In the same year, Marcus & Millichap acquired Prime Corp in Canada. In 2019, Marcus & Millichap further expanded in Canada when it acquired Form Real Estate Advisors.. In 2020, Marcus & Millichap expanded its Marcus & Millichap Capital Corp (MMCC) division with the acquisitions of Metropolitan Capital Advisors, Mission Capital and LMI Capital.