Best category to specialize in within brokerage: Tenant rep, landlord rep, or investment sales?
Within your personal experience which side of brokerage has been the best for you personally? Are there any benefits to one but not the other? Any information would be appreciated.
Depends on your long term goals. Investment sales skillsets are more transferable, generally, but if you want to be a lifer you can make great money doing any of the above.
I’m not in brokerage but from an outsider’s perspective, tenant rep brokers seem to be some of the most overpaid professionals on earth. Institutional caliber investment sales/capital markets guys on top teams don’t make anywhere near what top tenant rep brokers do. I’ve paid 7 figure commission checks to tenant rep brokers who did nothing more than make an introduction.
I second this, coming from a financial analyst at a brokerage. One thing to keep in mind though is that these tenant rep brokers that make high 6 figure and 7 figure commissions have been in the industry for 20+ years. It's all relationship based. These guys have been representing the same companies for decades.
In my personal experience this is sometimes the case but not always. It really comes down to representing users who have large space requirements in expensive metros. Yes, I’ve dealt with much older guys who have represented large companies for decades but I’ve also dealt with regional blue collar type businesses (think regional trucking, plumbing supplies, etc.), well capitalized start ups, government/quasi-government agencies, and a whole host of other random shit I keep getting surprised by. The main theme that is consistent is that these are all large spaces in a very expensive geographic territory.
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