Leaving Self-employment for Commercial Real Estate Brokerage
Give me Real Talk please.
I’ve been self-employed in the professional services industry for the last seven years and hoping to get into commercial real estate to maximize the ROI for the learning, time, and effort that I put into my work. Completing my broker training this summer.
I reached out to a decision-maker (higher than EVP) at CBRE that I met at a business event. He was warm and open to have a conversation, saying that he has previously hired from non-traditional backgrounds. FYI, I’ve spent seven years running an executive coaching and consulting practice and currently earn low six figures. Before moving to the U.S., I worked with C-suite executives and business owners in Southeast Asia.
Your advice will be greatly appreciated on any or all of these 3 questions:
1. How do I best approach that conversation with a CBRE decision-maker?
2. What’s your experience working as a new broker at CBRE in a major US market?
3. Do you suggest committing full-time on CRE brokerage and letting go of my self-employment or private practice? How much time will CBRE require from me? How much compensation through salary or commission will I be making?
It may help to know that I make low six figures from self-employment but it also costs me a lot to bring in high-ticket engagements. I do have retainer contracts that bring me less yet can still give some padding in times of uncertainty.
Jumping into commercial real estate brokerage from self-employment is a bold move, but with the right strategy, it can pay off. Here's the breakdown based on the most helpful WSO content:
1. Approaching the CBRE Decision-Maker
2. Experience as a New Broker at CBRE
3. Committing Full-Time to CRE Brokerage
Final Thoughts
Your background in executive coaching and consulting is a strong asset, especially in a relationship-driven industry like CRE. Approach the CBRE decision-maker with confidence, emphasizing your transferable skills and commitment. Be prepared for a demanding but potentially lucrative career shift. If you're willing to put in the time and effort, CRE brokerage can offer significant ROI on your skills and experience.
Sources: https://www.wallstreetoasis.com/forum/real-estate/starting-my-career-in-cre-five-years-out-of-undergrad-brokerage-vs-development?customgpt=1, 5 Things that Determine Your Success as a Commercial Real Estate Broker, 5 Things that Determine Your Success as a Commercial Real Estate Broker
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