Hey everyone,
I am in a bit of a bind. In short I am with my current investement sales firm for 6 months and I have not had any good progress so I have made the decision after 5 years in the business to fly solo. The issue I have is that I am fully licensed and ready to go but the president of the company is on vacation. I don’t need to but I believe strongly in leaving on good terms so my question is do I wait around for him to return without knowing when that would be? Or call him up and tell him over the phone? I feel like the latter is cowardly but on the other hand he is not present about 60% of the time and he has added no value to me at all.
Thank you in advance for any input.
Heshie
leave on good terms. CRE is a small world. We are also about to get into a recession so it only benefits you to maintain those relationships. Sorry things didn't work out, the investment sale business is a grind and usually takes about 12 to 16 months to start making a pay check. It's a tough business with a handful of brokers controlling the market at the large shops.
Appreciate the input. I am doing this for almost 5 years actually and have closed a good amount of deals but the last 2 years i switched firms 2 times as a result of change of ownership at my first firm. I just don’t feel I need to be with a company that isn’t adding value but looking to take half my commission so I’m moving on.
What is the benefit of doing this in an unprofessional way?
Do you have deals lined up and you don't want to split commission with the house?
I am agreeing with you that it’s not a benifit and my hope is not to do it this way but just Incase the guy is not coming back for a while I want to be able to move on. I don’t really have anything lined up but I do have things I want to work on and I do t feel like waiting around.
I’d just wait. As others have said, it’s a small world and you want to maintain any relationship you can.
Why don't you just find out when he is coming back. Once you know, you'll have more clarity in your game plan.
Is there a non-compete in your contract? I'm thinking your old firm might accuse you of trying to "steal" business leads you may have generated while you were at their shop (not really sure how this works in the IS business, but I'm curious since people bounce from firm to firm)
It’s not so much a non compete more just that the leads that were generated while at the company belong to the company. From my experience so far leaving 2 other companies they don’t expect you to leave empty handed and never work on your leads again but if it’s something immediate and they see your suddenly closing deals from the company they can demand the commission. I have leads from my past company’s so as far as I see it they don’t belong to this company and the leads I did generate while their I’m not all that worried about them chasing me over. However if you left on bad terms they would definitely be on your case and probably even get lawyers involved.
This is a part of the problem. In short his father in law owns the company and he is not super present at the company because he is mainly working on other stuff for his fil. Therefore he doesn’t make it known what his schedule is and I actually did ask his assistant and she didn’t respond. My assumption is he should be back this week hopefully.
Wait until he comes back. Come on.
Thanks everyone for the feedback. I think waiting is the way to go. Just hope it’s not going to be weeks more.
I mean.... unless he's an unbelievably heavy hitter I can't see him taking a multi-month 'vacation' in this biz. Now, if he's often traveling on business and you don't know when he's coming back that's another story, but I find it hard to believe he wouldn't have an assistant or someone similar that handles his calendar that could give you an answer on when he's coming back....
I would call him and tell him you intend on leaving but would like to meet in person and make the transition as smooth as possible. Offer to send over an itemized list of exactly what you feel you would need assistance with on the offboarding side and ask him for a list as well on his end in-case you missed anything. Like the others said, the world is a small place...
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