How do I tell my parents I want to be a broker?
Ok, don't laugh I'm being serious. I want to be an IS broker and have a few offers from firms in NYC. However, t's either a draw or 100% commission. My parents don't want me to go into brokerage because it's "too risky" and would rather I get a "real job" I'm going to accept one of the offers in NYC but don't how to tell them.
What firms? Any large firms like C&W, JLL, CBRE, Meridian, Avison Young? I'll PM you or feel free to share which you're looking at but I worked at a smaller firm 100% commission in NYC and it was hard. Really make sure you're on a team that will split any deals they close with you even a nominal amount so you can survive or you have a salary/draw. If not then that is kind of telling that it's not the best group culture and they don't have your best interests at heart. Candidly that's how mine was (no split) and my boss was never around so it was me on my own and it was very tough to close anything (I didn't close anything). You need a senior guy/team behind you to actually see traction vs cold calling and not even know what to do. To give you an idea I know people at top firms I mentioned and they have a draw or salary with a certain commission split and have done well. I would say don't even look at the 100% commission offers.
3 of the ones you listed plus some others. I live in Philly so it’ll rather difficult to live in NYC without at least a draw for the first year so I’m not considering the 100% commission only. I still have a bunch of other interviews coming up with other firms. Would love if you pm me and we can discuss.
Working as an IS analyst for a few years while you are able to network and learn isn’t the worst thing. Think about it from the clients perspective, why would I want to hire this 22 year old who barely knows CRE to sell my multi-million dollar property?
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