Just looking for some up to date insights on working for a Commercial Real Estate Brokerage in Tenant Representation. Pay? What to expect in the first year? Stay away?
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All dependent on where you go to work.
Are you starting on a well established team or on your own?
Are you starting at one of the big shops such as CBRE, JLL, Cushman?
If starting on your own at a big shop expect a draw for the first two years. Dependent upon market. I am in a bigger market so idk if they would give a draw to someone in a smaller market. The first year or two will be a struggle. No way around that. I've heard in the past the draw is 35k. Don't know if it has changed any.
If starting out at a smaller shop be prepared to get a phone and a desk.
If you start out at a bigger shop on a good team expect to be in more of an analyst role your first year. Yes you may work on a couple smaller deals, but for the most part the team will ease you in to make sure you really have your feet under you.
Any other questions ask away and I will do my best to answer.
there are at least 10 threads on this forum addressing this question, FYI
Thread title should be changed to "CRE Brokerage, can you hack it?"
No, the industry is completely awful. You won't make any money, ever. In fact you'll have to pay $50,000/year just so you can put 'broker' on your biz card. Mandatory elephant walks every Friday after sales meetings at some shops. The only reason I'm in RE is because I like pain. If you value your life and preftige, pick some other field.
Pres107: Looking at joining a boutique firm on a team in a large market(Houston). Regardless from everthing I have read on here and M&I no matter if you join a large or small brokerage, small team, big team or on your own there is just no money to be made for a couple years at least...
And then I read about similar things like MonkeyWrench that people are flat telling others or me to stay as far away as possible.
I am not a new grad I have been working in other parts of business for a bit but feel like I have topped out on salary. CRE is tempting with the idea of limitless earning potential but everyone keeps telling me to stay away and I will be broke for 2-3 years at least...
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