New-ish broker with a few questions.
Hi all,

I have an odd scenario and am hoping to get some input/guidance from you fine folks here. I'm currently at a residential firm (been here 6 months) my goal coming into it was to start a commercial sector (I've managed a large retail property for the last 6 years and handled all leasing/operations etc). I'm finding myself at a lack of confidence in my abilities as my range of experience isn't as applicable as I had thought it would be.

I'm thinking of making the switch to a CRE firm which I know would be a much better fit. That being said, I'm sure my boss would like to keep me there. So my questions are;

1. What kind of materials are you provided with upon joining a firm? In terms of marketing material, research etc.

2. Is it realistic to expect to work next to a senior broker who can help guide me on why something should be done a certain way versus another way?

3. Financially, what are typical desk fees, any required memberships or associations?

4. In terms of support, is it realistic to expect to be able to ask any of the other brokers/higher-ups in your office for advice on a particular transaction or are you expected to come in with that knowledge?

5. When looking at/interviewing potential firms, what should I be looking for, any certain questions I should be asking?

Think that's it for now, I really appreciate any input!

Edit: To add one more question
[{"id": "dedks7g", "text": "I've only been in this industry for a few months, but here's my experience so far. \n\n1. Depends. Where I work they provided an office, cards, print materials, and even paid for a conference fee, but will be taking out some of these cost in my first commission check. \n\n2. I work with a senior broker who has a ton of experience and does have me working on a deal with him, but he doesn't give me much guidance. It's tough to know the right way to get things done. Some other senior brokers have been friendly and offered good advice and some others not so much. You'll realize pretty quickly who you can go to for questions. \n\n3. I don't think many CRE firms have desk fees, but I know a lot of CRE norms are regional. \n\n4. I ask questions often. Just remember some people will only see you as a threat that will be taking commissions away from them, but other people are happy to help. \n\n5. The most important thing in looking for a firm is finding a place that can train you and also provide a senior broker for you to work with/under that will really help guide you. Some of the newer agents def have more helpful senior brokers and they are doing better because of it. \n\nI'm still pretty new to this industry, but that's been my experience. \n", "replies": [], "depth": 1}, {"id": "dedl0sx", "text": "1. Every firm is different; some provide more than others. All national firms will have marketing materials, templates, research, etc. at your fingertips. They want to a common image displayed to the market.\n\n2. Yes, it is extremely common for newer agents to be assigned a mentor within a firm.  Today's age of CRE focuses heavily on building a team (where as 10+ years ago it did not).  Focus on providing business to your mentor (whether official assigned or not) so it becomes a two-way street.\n\n3. No desk fees. I was also provided subscriptions to all major commercial real estate websites, CoStar, LoopNet, RealQuest, LandVision, etc. Some firms provide equipment (computers, monitors, headsets) while others do not.\n\n4. VERY realistic.  There should also be a regional manager in-house  whose main job is to assist agents.\n\nGood Luck.", "replies": [], "depth": 1}, {"id": "dee6r9y", "text": "Interview at a bunch of commercial firms, especially those with a retail focus if that's your interest. Then only go if you can work closely with a senior broker. There is simply no substitute for what you learn from that. It would be VERY difficult to replicate that on your own, or would take much much longer at least.", "replies": [], "depth": 1}, {"id": "dehj0ts", "text": "The most important thing you need to know is that you will likely make little to nothing your first year.  Sure you might get lucky because have some experience in real estate, the truth is that CRE and Residential are the worlds apart.  I've seen Residential agent come to my firm and fizzle out in a few months.  \n\nDeals is CRE can take awhile, sometimes a few weeks, a month or even several months to a year.  \n\nLeads don't come pouring in all the time either, the industry is based on building relationships and its all about who you know. \n\nBest advice I can give is to learn your market.  Find the names of every cre brokerage in town and talk to them.  If they blow you off just keep pushing for an interview.  Learn what their core focus is - tenant rep, listing brokerage, etc. what sectors do they work?  Retail, office or industrial.  \n\nLearn about their systems.  Do they have a shared database? Do they provide a Costar subscription etc?\n\nIf you can, try work alongside a high volume senior broker, someone who is at least a top 5%-10% producer in your market.  These are the guys who you want to learn from and the ones who have developed the work ethic and habits that you need to learn to be successful.  You'll likely be their b itch the first year but thats just part of paying your dues. \n\nI know this because I'm wrapping up my 4th year in commercial at one of the top landlord rep firms in my market.  My 1st year was horrible made probably $15k but by my third year I was into six figures.\n\nWhatever you do, please dont be one of those resimercial agents trying to play in both worlds. They get no respect from anyone in cre and your not doing yourself any favors.  I dont know about other markets but I'm in a major market and these national Residential brokerage firms who are opening cre branches by putting \"commercial\" after their names dont get any respect from us in cre.  ", "replies": [], "depth": 1}]