Questions to all reddit CRE brokers
Just for future refernce
How long did it take you to receive your first pay check?
Anything that couldve sped up the process that you didnt know at the time?
How much time went by until you hit 6 figures?
[{"id": "ctl1pgx", "text": "6 months for first check. 3rd year for 6 figures ", "replies": [{"id": "ctlxe5m", "text": "totally agree w/ the username and the comment. What kind of broker are you in the city?", "replies": [{"id": "ctm5xrn", "text": "tenant rep, office leasing.  But I recently moved out west to Colorado.  Denver is growing market and much more relaxed.", "replies": [{"id": "ctm7yxs", "text": "very nice! I was doing Investment Sales of Office in NYC and got kinda screwed over by my mentor. Headed back to LA to try again.", "replies": [], "depth": 4}, {"id": "ctqc819", "text": "How did you transition from one city to another as a broker?  Tough to start from scratch again? Or did you transition within a big firm?", "replies": [{"id": "ctuvghh", "text": "I went from a small shop to a multinational firm.  Its pretty tough.  Im in month 7th now.  You need to ask for a draw or make sure your new colleagues are willing to bring you in on their deals.   I anticipate it taking me at least 3 years before I have developed my own client base.  Until I have to rely on my colleagues and cold calling.", "replies": [{"id": "ctv1tpk", "text": "Thanks for your reply, mind if I pick your brain a little more?  What's usually your protocal on cold calling?  Do you cold call to get listings straight up?  Or do you like the establish relationship cold calling approach?  \n\nFor example,  what I've been doing is cold calling a for sale by owner or a building owner and offer him market information for free.   What the building down the street went for sale for, what are rents.  Who is coming to town soon, etc.  Then asking for a listing down the line after I build us some trust with my knowledge.  Do you have success with just cold calling \"Hey this is what I do this is what I'm good at how can I help you?\"\n\nAlso, what was your reason for moving to a bigger city/ big multinational firm?  Wanted bigger deals/clients or just wanted to live in that city? \n\nThanks and if you'd like you can respond with PM ", "replies": [{"id": "ctv8khc", "text": "First I have to say I hate cold calling.  But once I get in a groove its not bad.  Its like going to the gym.  The hardest part for me is just walking through the door and starting.\n\nThat being said right now Im cold calling companies looking for tenants for our listings.  We handle the leasing for a handful of buildings in town and Im using that as a story to tell.  \n\nIm not calling owners.  2 reasons: it takes a long time to research building owners and get their contact info.  I dont have that kind of time.  Ill do it on a one off basis but not If Im trying to bang out 40-60 calls in day.  Wouldnt be possible.  Even our research department has a tough time coming up with contact info for some of the entities that own buildings. \n\nOther reason is that we have vacancies in our buildings and we need to fill them up.  My new teammates have the listings and are more than happy to let me cold call on behalf of their listings. \n\nI didnt move to a bigger city.  I left NYC to Colorado.  I was pigeon holed in NYC as an office leasing broker.  Tenant rep only.  I wanted  to be on the agency side and also do land/industrial/retail deals.  I wanted be a generalist so I have experience in every product line.\n\nPlus NYC was getting too expensive.", "replies": [{"id": "ctv9y08", "text": "Do you think your experience in NY helped you transition faster in the new city?  I've heard you can cut down your \"1 year no income\" in half if you already know the game.   For me it took 6 months to talk the talk then another 6 months to find my first deal.   Have you noticed you were able to hit the ground running faster per say?", "replies": [{"id": "ctvdw9x", "text": "In short. Yes\n\n", "replies": [{"id": "ctvec0x", "text": "Okay, thanks for your help.  Much appreciated.", "replies": [], "depth": 10}], "depth": 9}], "depth": 8}], "depth": 7}], "depth": 6}], "depth": 5}], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "ctlnrr3", "text": "Depends on your draw situation I suppose. I closed some deals in my first year, but they just went to paying back my draw. First check above my draw came about 1.5 years in. 6 figures in 3rd year.", "replies": [{"id": "ctnlu9a", "text": "Thanks for the reply; just wanted to thank you for all the content you've put up about being a broker here on reddit. I just made this account but I've been reading your posts for a very long time and have learned allot because of them.", "replies": [{"id": "ctpzgo1", "text": "Glad to hear it!", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}]