Hi All,
I was initially looking into becoming a RE Analyst but haven't been able to shake the want to become a CRE broker since learning more about the industry. Would current brokers be willing to share their current RE type, how many deals they close on average a year, and experience building their business within the first 1-3 years? I appreciate your insight!
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Seriously. Search before asking such common questions.
https://www.wallstreetoasis.com/blog/day-in-the-life-commercial-real-es…
It's funny reading this five years later:
This situation was one of the final straws for my time as a broker. I ultimately got cut out completely from the pitch team and we lost the pitch to CBRE.
Left the CRE brokerage world? Where or what did you move to?
This. Make no mistake, no friends in the brokerage game. Maybe allies, but never unconditional loyalty. It's all about the split and who controls relationships.
I don't see the problem with repeating questions. Gives the chance for new insight from more people that haven't already answered in older threads. Also, OP is asking some pretty specific questions and I feel like this could be a unique thread for brokers to answer in, sort of like the "what is your compensation in RE finance thread".
AspiringREInvestmentAnalyst working a niche that you genuinely like outside of work is important. You will keep a good tailwind daily if you have an underlying interest in the property types, companies, and business owners you will be working with.
Being a CRE broker is great when the deal closes. Like any sales position you have to constantly brand yourself, meet new people, and get over any hesitance there is to hearing no. Patience is also important. Many times I have reached out to earn a listing, but the owners were already working with a seasoned, albeit passive broker. I always ask them when their listing is expiring and follow-up as soon as it ends. Being young, energetic, and creative can work in your favor as a broker.
I will be hiring CRE agents soon by the way!
Have you ever seen the movie wolf on wall street?
Bump, interested for more input
I just quit my job as a CRE broker after a short 8 month term employment. I specialized in industrial real estate. Normally, first two years, you start off making cold calls. That is about it. If you are lucky enough to get the deals on your hands, probably 2~3 deals a year, but I have seen many who could not even get one a year. Even if you get 2~3 deals a year, you split it with your senior broker.
Did you quit because you realized brokerage wasn't for you? Why did you choose to specialize in industrial property? Seems like industrial is a minority on this forum..
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