Working in IS - hands off boss, how to succeed? Need advice
Hey everyone,
Working at a smaller investment sales firm in a T2 city as a broker. Have been here a little over a year out of school and direct boss has been hands off. For example he'll leave a few weeks at a time going to a different state since he's working with brokers there, he's responsive to emails though. I feel like this isn't the norm also considering others in my office head guys are there with them day to day.
It's basically come down to if he doesn't answer a question I have, I'll go to a few other guys in the office to get answers. A little confusing for me since their financial incentives are not aligned with mine, but there are some who have taken the time to help. Anyone who's worked in IS have thoughts on this? For me just starting out this seems like a terrible arrangement, is this the norm (hand off bosses, that just want deal flow?). He's closed tens of millions of deals last year and we've submitted an offer while he's been away so is that all that matters? I'm confused on if it's just about closing deals and if he responds to most emails it's a sufficient situation because he's clearly not going to be a mentor?
Are you guys a combined deal team? like you get a cut of all he closes, or is he just a "sales manager" and you are on your own?
We're a team as in he get's a cut of my deals that I bring in/we close. The deal's he's closed were before I came or he was working on them before I joined and they closed while I was there.
yeah, this is not how teams are supposed to work, I would see if you can (very carefully) move to another one. Either you get him to play his role, or you should find a better team. To that end, being direct with him is not necessarily a bad strategy, you need to find a working relationship, it's only fair. In sum, voice you concerns, then evaluate your options.
What's a normal relationship? The other offers I got were similar agreements with no team sharing. Not really bothered by it because I see it as I have to bring in deals and he's supposed to help close them. Is there a way to deal with the not so hands on approach and need to reach out to other brokers to get answers?
Don't think I can change teams and not sure how I would. Only one guy I would want to work for in the office who helps me now as it is. At this point I'm looking to jump to acquisitions/development and am sharpening my modeling/sending out emails for calls and coffee chats.
you should a very close working relationship that would likely entail frequent, possibly daily communication. You should not have issues getting questions answered or feeling supported. If you are the "junior" they should be using (and dare say abusing you) for lots of work that keeps you busy but also trains you. Some brokers (and well people) just suck at training and mentoring, and that is not good for an early career.
Not sure what your options are, or best course of action, but this is not going to lead you to maximum success unless you literally do it all on your own. If you grunt through, you could be mega successful, but it defeats the purpose of the senior/junior role split that so many rely upon to learn CRE business (not just brokerage, but all areas).
To be clear I am in daily contact with him, but still I agree. I don't think he's the best at training or the firm in general is. My other option could've been to go to CBRE and start in research then go out as a broker at the 1.5-2 year mark. I see different advantages to each option.
Overall I think my situation isn't the best, but we have good deal flow so that's a positive. I'm looking to transition to a well known developer to at least get the training or support there.
Okay, that sounds better the way you put it. I would probably stay put, if you have good deal flow and its overall working out. Still, I would try and improve the situation internally, and maybe find other mentors inside the firm (office managing director type?). You should be sure you vent some of this to them, they may not realize you are looking for more. Personalities in this industry are all over the place, I'm getting a sense of what you are dealing with, being more vocal and demanding may get you more than you realize.
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