What are the "pros / cons / should-have-done’s” for someone interested in straight acquisitions and development entering the commercial debt brokerage field?

For those who have done commercial debt brokerage or have witnessed the career trajectory of a friend who has:


What are the “PROS / CONS / SHOULD-HAVE-DONE'S" for someone initially interested in strictly acquisitions and development roles entering the commercial debt brokerage field? 


I imagine (please correct me if I am wrong) some back-of-the-envelope pros and cons as:


Pros:


  • Get exposure to and practical knowledge of an extremely critical piece of the investment industry and overall deal cycle.

  • Meet and potentially form relationships with an array of active market participants locally and possibly nationally.

  • Exercise one's "network muscle” which is important in a network rooted industry like RE in a variety of areas.

  • Your salary is not tied to your relative hourly input but to the size of the transaction which allows for more leverage and exponetiality in your compensation.


Cons:


  • You are dedicated more building a book of business and serving a client than learning and developing underwriting, equity driven deal analysis and asset level expertise.

  • Cold calling ^ 10+, each day and every day - which is likely not the cup-of-tea or baseline ability or disposition of the average person.

  • 100% commission based, no dependable salary to underwrite life’s neccesities and possibly no health insurance given the independent nature of the work.

  • You may get typecast after a certain seasoning point as non-quant or sales-focused which may limit future investment related opportunities.



If you were to start in this industry again, what would you have done differently? 


Edit: Spelling

 
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