How Hard Is It To Succeed in This Business? Expected Payout?
[removed]
[{"id": "gqe4gbm", "text": "***Is it easy?*** Yes, if you know the area and know the big players and are willing to learn from the very bottom and work your way up. \n\n***How easy is this role to make a very good earning as an agent/broker?*** The rule of thumb is, at best, you'll lose a few thousand your first year. Second year, if you break even, you had a good year\n\n***What can I expect in terms of the amount of time required and expected annual payouts?*** You are going to learn something new everyday. I know guys who have been brokers for 30+ years and are big shot deal guys and they feel like they don't know anything about the business. Annual payouts, \\~5 years before you make your mark and start getting deals. Not big boy deals, but deals.\n\n***What does it take for someone with no experience and wealthy connections in this industry to succeed?*** Attach yourself with a firm. A family owned smaller firm is probably better because you'll be exposed to a ton very quickly. When you get on with a firm, bug the living shit out of them regarding getting your CCIM (Certified Commercial Investment Member). Study. Study what you ask? Exactly. Know the ins and out of CRE. When you have an established foothold in the industry, you might be able to branch off and take those wealthy connections money and create your own deal.\n\nDon't over think it. It's a sales job, like selling cars, except millions of dollars are being handled. They key is, always learn, always study.", "replies": [{"id": "gqe4scy", "text": "What are the benefits of CCIM?", "replies": [{"id": "gqe4zv3", "text": "Following... i want to know too", "replies": [{"id": "gqe8l4s", "text": "They answered below", "replies": [], "depth": 4}], "depth": 3}, {"id": "gqe5az2", "text": "You'll learn all the financials related to CRE. You'll get an in depth knowledge on different ways to value a company and how to actually do it depending on what type of asset class. I only did level one but if I could, I'd complete all three levels. Plus, people in the CRE world recognize CCIM and know that if you went through that, you know your stuff and people can rely on you to put in the difficult work.", "replies": [{"id": "gqe8jmw", "text": "Cool, wonder how different it is from CFA, I am finishing CFA level 3 now and burnt out on tests.", "replies": [{"id": "gqeik4u", "text": "CFA is much harder obtain than CCIM.  CFA will carry more weight if you are looking to work in i banking and portfolio/investment mgmt.  CCIM more recognized among RE brokerage professionals (I've also seen many AMs also get CCIM designations...I've taken a few classes paid for by my first employer and they were pretty easy classes).  I believe part of the CCIM designation requirement is to have actively managed/transacted min ??? SF for X years.  Agents/brokers may be able to reach this threshold quicker.", "replies": [], "depth": 5}], "depth": 4}], "depth": 3}, {"id": "gqesfax", "text": "Nothing...you get a nice name tag though.", "replies": [], "depth": 3}, {"id": "gqets9i", "text": "It\u2019s kind of like a masters of real estate, but geared for brokers, so it\u2019s a little more simplified.", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "gqefd03", "text": "It's extremely hard.....work.\n\nExpected payout?  100% commensurate with the effort expended.", "replies": [], "depth": 1}, {"id": "gqetdpo", "text": "Extremely difficult unless you\u2019re well connected. You will spend 3-5 years just scraping by picking up listings building your name.", "replies": [], "depth": 1}]