CRE Investment Sales: Should I keep trying to get a paid position or settle on no salary?
It’s been 8 months since I started applying to CRE firms in NYC and have not had much luck. I understand that most start unpaid or with a draw, but is it time to settle or should I keep looking? I have a decent background in brokerage/sales, so believe I am qualified. However, I definitely am not a top contender as I lack the financial experience most come in with after leaving IB/PE.
Any suggestions would be appreciated.
It’s all up to you and your risk appetite. Can you survive off of no salary for 3-5 years? The market is slow. Need to be prepared for cold calling with absolutely zero income. What’s your appetite to stick out no income while you wait for the market to come back?
While I can most likely survive with no income for a few years, it would be fairly difficult without a part time job in the future. I have already been unemployed for almost a year now, so don’t want to dig too much into my savings. However, I’m unsure what part time jobs would be feasible with my schedule. I am also considering full time lending jobs that have a very low base salary with uncapped commission. Although this would not be ideal, it would still allow me to stay within the real estate industry to some extent. But that would mean abandoning my goal of breaking into the brokerage side of CRE for a few years. Been seriously debating the oppurtunity cost of settling since I am going crazy without any work for this long. 
You can always take a salaried job and try to get into a team you’re interested in on the brokerage side (with a salary) at a later date. There is no reason you can’t do that
Do you have any suggestions or ideas for salary based jobs that would allow me to smoothly transition back into real estate? Or any NYC boutique firm recommendations that may be easier to land a job at. Thank you for helping
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