Getting Paid Well but not learning tons - IS brokerage
The title says it all, on a great team with people in their early 30s making well north of 500k (closed 250M between three people last year and on track to beat this year, favorable house split) but we specialize in an asset class that doesn't require a ton of technical work. Associate 2YOE next to me will clear north of 250k. I dabble in AE probably once a month or so, building a property from the ground up and putting that info into a BOV. My daily tasks include outreach and preparing OMs/BOVs to send to marketing. Learning a steady amount because I'm three months in but don't know if this is a long-term career path. Is not learning technical skills in depth worth the pay, or is the trade-off not worth it in the long run? The team genuinely seems interested in grooming me to become a producer and is interested in my development. Also, the hours are extremely fair. Any advice or insight would be appreciated.
As far as I know, people become brokers to make money, not to be deep in the weeds analyzing deals. They’re salesman, not excel monkeys
appreciate it. Yeah that makes sense. I'll just keep studying in my free time to keep options open
People tend to go into IS to learn the market and real estate as an industry. You can learn a lot about modeling if you are on a team that specializes in like power retail centers or office towers with 10+ tenants, but if your team does land, self-storage, single tenant industrial then there is very little to model. If you went into brokerage to learn and make the jump to REPE or dev after a year or 2 then just learn as much as you can about real estate and the specific markets that you operate in and the REPE or dev can always teach you as you go. If you went into brokerage to be a producer one day, then you are seeing first hand what is needed to be a broker so if you see your brokers not needing to model a deal, then you won't either when you are doing what they do. You also said you have only been doing it 3 months, I wouldn't jump to any conclusions yet until you hit a year or so.
You'll soon learn that there are not really any true technical skills in this industry, regardless of where you are. (Not counting excel and Argus, because anyone with a business degree can learn them within a few months)
Know the numbers, know your markets, and build your network…these three things build success and it seems like you can develop them at the place you're at.
It's all about doing deals, not running 1000 different sensitivity analyses.
Sounds good. Thank you for the advice. I think so too. Just wanted some depth in my perspective
A second year, salary + bonus, Associate makes $250k? That's Eastdil level brokerage comp if so.
sorry should've specified. 3 years total experience. 2 years at associate
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