Help me move out of brokerage in NYC!
Hi all,
Can anyone please help me?
I have been working as a Commercial R.E. Salesperson for 12 months now, but have done ZERO $.
** Deals completed: Zero (was very close to going in contract on 2 deals, but both didn't work out). ** Firm: Small Boutique firm in Manhattan (off-market deals only), not much help from principals, just some help from colleagues. ** Day-to-Day: Cold calling, analyzing deals. ** My Age: Late 30s. ** College Degree: Marketing ** Experience: 15 years in Sales (unrelated to RE) + 1 year as RE Salesperson. Super hard-working, speak 5 languages... and family to support.
At this point I need to move into something that would give me a salary. Open to any Commercial RE-Related position in New York that would offer a Base Salary (room for growth would be ideal): open to: Analyst (basic knowledge, willing to learn, fast learner) Acquisitions (basic knowledge, willing to learn, fast learner) property manager(basic knowledge, fast learner) associate/assistant broker with a base salary OR anything else with a salary!
Feel free to PM me, if you can offer any sort of help or advice. Thank you.
Hi. I am new as well, in identical field. And from my in-person conversations with different professionals, I've learned that a "draw" is an option. You didn't mention it, so I just wanted to bring it to your attention. Perhaps a draw can be negotiated.
I'm sure those more seasoned will be able to help you much more than I can.
Your best bet is to transition into a tier 1 brokerage but curious what others will recommend.
It will probably be easiest to move around through the brokerage world. Maybe try to move to a debt/structured finance team. Generally these teams are split between execution and originations. Many of the times the execution team is salary plus bonus as they are not out there sourcing. This gives them time to learn how to, and than begin to, bring in business. This way you can get a salary but still be in the brokerage world. Question though-if your brokerage does all ‘off market’ transactions, is it really off market? Curious how you sell that considering you’re probably shopping all your deals to many firms.
I worked in CRE brokerage and can offer some empathy/input. In such a competitive city like NYC, I would recommend joining a brokerage team in an analyst role. If you like working on deals, you want to be in a place where you get exposed to plenty of deal flow. Ultimately, it depends on your desired career path.
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