CRE Career outlook in Seattle. Potential career switch
Hey all, been a subscriber for over a year on your sub. 

An opportunity with a broker just came up to become a Commercial REA and im considering it. I've had experience leasing and purchasing some commercial properties as assets but am currently working as a construction PM.  Its crazy stressful but I'm making around 125k so not bad. I'm wondering what the outlook is in becoming a licensed agent and how long it takes on average to take off and start making some sales? The broker is offering mentorship and license training. How does the commission process work with a broker and what should I expect as far as sales support? Is this something I should consider at all or just run for the hills? 

Thanks in advance!
[{"id": "g3680uh", "text": "Being a sales associate can be more lucrative or less lucrative depending on a variety of factors including luck. Generally speaking the sales associate will have some sort of split with their broker depending on their agreement. So let's use residential sales, typical commission is 6% for low-middle range homes, less as you get pricier. That 6% will get split between selling agent and buyer's agent most often 50/50 so 3% to you. Then the broker will take a cut anywhere from 5-40% depending on how the office is run. Some offices give you a ton of support/research and therefore expect a bigger cut, some will just leave you on your own and are hands off as long as you know the rules and don't break them. All of this is up for negotiation.\n\nCommercial will typically have a lower top line commission, but because the numbers are bigger you can see more nominal dollars in your pocket. To give you an idea, I was buyer's agent on a 9million dollar deal, total commission was 2.5% of which I got 1%, and seller had 2 agents who got 0.75% each. These sorts of paydays will not happen very often unless you are very well connected.  Don't expect to close one like this every week.", "replies": [], "depth": 1}, {"id": "g36g9fb", "text": "I would keep your day job till the market bounces back", "replies": [], "depth": 1}, {"id": "g36k381", "text": "What product type? COVID has absolutely slammed the office and retail verticals, capital markets has also experienced a slow down but money and Buyers are still plentiful so its making a swift comeback. If its office, retail or capital markets you are getting in at the very bottom of the market, which will be difficult but very rewarding in 2 - 5 years when your a seasoned professional and the markets come roaring back. \n\nIndustrial (particularly in western WA) hasn't skipped a beat.\n\nThe most important deciding factor imo, which u/cryptorific touched on, is what shop and profile of the Sr. Broker. If your its a boutique brokerage, or the Sr. Broker isnt a big hitter the potential for failure sky rockets...... Whereas jumping in as the runner for a top producing team at one of the big shops will al but guarantee a smooth entry into the industry so long as you perform.", "replies": [{"id": "g36oqsf", "text": "Yea I work industrial which I like the most and hasn't been hit as retail and office. I wouldn't touch office with a 10 foot pole, I don't like retail but I've worked it. There are still pockets of retail that are just fine, I'm sure fast food, convenience stores, gas stations, should all be okay for the most part.", "replies": [], "depth": 2}], "depth": 1}, {"id": "g36t8hk", "text": "Commission level &amp; sales support is going to differ widely between brokerage firms. Do you mind sharing either the firm or asset class? If it's Multi &amp; with M&amp;M I would suggest sticking to your day job...", "replies": [], "depth": 1}]