Hi everyone, I'm transitioning to real estate development and get the offer of entry level acquisition deal sourcing position.
However, it is commission based. I'm not sure what is the base line compensation for this kind of role and is this normal practice?
Thank you.
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Transitioning from what? I've literally never heard of a commission only sourcing role - usually you'd get a salary plus bonus and/or some carry in any deals you source. Unless its excellent commission this sounds super high risk, what if they are extremely picky or not as well capitalized as you'd like and they only close on one deal a year or less (not uncommon for a developer).
I've seen some shops in NYC do this where it is all commission or perhaps some equity participation as you source "off market deals". Personally, I would rather work as a broker doing Investment Sales where you can source more types of deals.
Thank you, will reconsider it. I'm transitioning from architectural design
Avoid it, get your MBA
If you’re going to do a commission sourcing role, might as well be a broker. It’s easier to rep the sell side than buyside. The developer may not want to buy and you bet on one horse. If you can get a sales listing, there are plenty of buyers to choose from.
Everyone above loves the revenue they generate while taking $200k all-in.Commission is sales. You will blow away your peers if the product is reasonable.Tell me more about the deals you would be doing.
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