Tenant/Landlord Rep Broker Comp and Lifestyle
I am currently interning for a larger company in my region that focuses on leasing and investment sales. I've spoken to some of the brokers (specifically tenant/landlord rep brokers) and they told me an average years compensation ranges from $350-500k. I was just wondering if this sounds accurate for a secondary market leasing brokerage role? Additionally, a lot of the broker's hours seem manageable and I was wondering if this is the norm for leasing brokerage?
Brokerage compensation ranges from zero to seven digits. I'm sure if you polled an office of tenured brokers the range you stated is likely true but think of it as a pyramid where the vast majority of brokers make very little and are out of that industry in a couple years. When I was in NYC tenant rep I'd say 50% of new brokers are gone in two years and 80% were gone in five. High compensation in brokerage is a self fulfilling prophecy, those that are making money stay in the industry and those who don't leave.
In general I think brokerage fits the generic 80/20 rule very well, 80% of the commissions are earned by 20% of the brokers.
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