Landlord rep vs tenant rep
I’ve been meeting with a lot of brokers around the area, and today I met with one who told me that people who specialize in tenant rep are often times more successful than those who do both landlord and tenant rep. Is this true? 

Also, I know a lot of people for tenant rep do office, but is there a market for industrial tenant rep? Thanks in advance 
[{"id": "ehdoyve", "text": "We have a ton of industrial tenant rep. Some run portfolios for companies based locally with a national or international footprint. I would strongly suggest looking hard at industrial. When I started in cre wanted to do all the high class office stuff, wear nice suits and eat $400 lunches. I got an industrial job and it completely changed my view. Industrial is laid back, and has better margins. My favorite though is the lack of emotional attachment. People get wrapped around the axle about how things look or feel in office and the jobs drone on and on forever debating carpet and tile - no different than working residential. In the industrial space it's all about numbers. Highly recommend looking into it.", "replies": [{"id": "ehdq0nc", "text": "I am totally open to it. The guy I talked to said office was sexier, but sometimes he wishes he would have got into industrial. I\u2019m trying to decide between the two, I will probably go with whichever broker takes me on to their team and trains/mentors me first. \n\nWhen you say margins are better it made me think are there any other upsides to industrial that you can think of when comparing to office? For reference I\u2019m out of the Seattle and surrounding area market ", "replies": [{"id": "ehfae4k", "text": "I should clarify: I left brokerage for project management. PM fees are amazing on industrial jobs vs office. I work with industrial brokers nationally doing TIs and BTS. Although I've sat through some lease reconciliations and have seen brokers walk away with a check for $1.5m granted the brokerage takes 50% but still.", "replies": [{"id": "ehfx5uf", "text": "That\u2019s not true, most firms you only have to give half to the house up to a certain revenue. I.e. 100,000, 200,000. Then the splits go in your favor. A lot of the time in increments 50/50 then 70/30 then 90/10", "replies": [{"id": "ehfyzxs", "text": "I don't know how the brokerage agreements are structured past what the brokers tell me. Could very well be.", "replies": [], "depth": 5}, {"id": "ehk5xmq", "text": "That structure is typical for smaller brokerages, in my experience larger ones will keep it 50/50 except for certain exceptions", "replies": [{"id": "ehlc20y", "text": "Define bigger I mean the huge ones like cbre yeah, but I know a lot of large firms that have nice splits. I\u2019m from a top 10 market and the firm with the largest market share has a 90/10 split after 50/50 to 100k\n", "replies": [], "depth": 6}], "depth": 5}], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "ehdzhjq", "text": "Transactions are typically more lucrative and teams can be smaller in tenant rep, but you typically do less volume. You have to hit the phones hard to drum up leads though, depending on your market and team set up. \n\nLandlord work usually involves more deals per year based on your portfolio, but average deal is usually smaller because you have to service all the vacancy in the portfolio instead of being able to pick your clients for tenant rep work. \n\nFees in my market on the east coast are 2% for landlord rep and 4% for tenant rep, but for any deal over 10,000sf, tenant reps are having to share 1/3 to 1/2 of the commission with the tenant. The largest corporate transactions are sometimes a set cost per transaction. \n\nDepending on the size of your market, you may have to be a jack of all trades, e.g. building sales, leasing on both sides, multiple property types like industrial and office. ", "replies": [{"id": "ehe25kp", "text": "You have to share the commission with the tenant?? Wow. Who dictates that rule? Is that just market? Only the slimiest guys in DFW do that. ", "replies": [{"id": "ehe2g4h", "text": "Not a rule. It\u2019s part of the pitch to win the business and generally an expectation for any sophisticated tenant. I\u2019m in a big East Coast market and every tenant is represented, regardless of size. ", "replies": [{"id": "ehe2kr0", "text": "Industrial I\u2019m assuming?", "replies": [{"id": "ehe3c8b", "text": "Office ", "replies": [{"id": "ehedaie", "text": "Ah okay, that makes a little more sense with the 10k sf+. ", "replies": [], "depth": 6}], "depth": 5}], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "ehe23jc", "text": "I\u2019m in industrial TR. All of my broker friends envy me because of how hot the industrial market is. Please feel free to PM me. ", "replies": [], "depth": 1}, {"id": "eheg7t6", "text": "Landlord rep (at the top levels) allows access to major portfolio sales. TR (anecdotally) is where most of my biggest deals have come from, but a number of those TR accounts came from having a listing and an unrepresented tenant called I was able to run with.", "replies": [], "depth": 1}]