Brokers: how did long did it take for you to be confident in a commission only environment?
I’m a broker with a national firm, about a year into the career. Started straight out of college. I was able to start because I stayed with my parents and had no debt after college (stayed local, grants and scholarships covered most of it). 

This year was a shaky one, but I learned a ton &amp; am starting to understand how the business works. I was told that I probably won’t make anything in my first year. I ended up being able to only close one deal (25K commission). Other than that, I had some deals fall apart, especially one big one (potential 120K commission as a listing broker). I see the potential of huge income in the future and like the business a lot. 

My question to people who stuck it out and doing well: how long did it take for you to be confident that you’ll do enough deals to be able to live a comfortable life, including raising a family, buying a home, insurance, etc. oh and other investments. 

Background: I’m 24 years old x still live with parents and life cheaply. But eventually i wanna be able to setup on my own.
[{"id": "hp8x6cq", "text": "In my experience it takes about 5 years, which is why so many brokers come from money.", "replies": [], "depth": 1}, {"id": "hp9axyk", "text": "I think it really depends on the brokerage you're at, and the assets you work with. I've been with a national firm for about a year, and I'm coming off a similar year as you. 24yrs old, one deal done, and SO MANY deals that fell apart in the 11th hour. At one point, I had over $97MM in opportunities i've sourced myself, and staring down well over $1.5MM in net commissions -- on closeable deals. Most of that fell apart for various reasons. That's the name of the game. But on the flip side, I have colleagues who started before I did, so same age as me, 1.5-2 years in, making $150-500K+/yr with repeat clients and a stable business. \n\nI say all this because, I don't think the job/income security is ever fully there. Even for brokers making millions/yr, if their top clients stop buying/selling for whatever reason, they stop making money from their day job. It's just a management of money you've already made. For example, if your life expenses + a little bit of fun money costs you $40K/year, once you hit that $40k, you know you've bought yourself security for the next 12 months. Now everything above that can be used to invest, to stabilize your income during a down-period. I wouldn't recommend letting your lifestyle creep up until you have 18mos expenses in the bank, some sort of passive income that pays the bills for you, or a spouse with a W2 job.\n\nAgain i'm still young in this, so I might be completely wrong. But that's my perspective.", "replies": [], "depth": 1}, {"id": "hp9b0sz", "text": "I'm 8 years in and bad some scary times. I was told to save a year of living expenses before starting and so I saved 18 months. Due to unexpected expenses (vehicle, medical) that money lasted a year. I closed my first deal right around then. Had the deal fallen apart I'd have had to borrow money. 2019 was a bit rough but still in the six figures. The key is keep you recurring payments as low as possible and invest. Don't spend a commission until it's in your account, buy things in cash. Don't finance an expensive car after your first $100k year. You'll regret it the next time you have a $50k year.", "replies": [{"id": "hpqzyif", "text": "Why are you comfortable with having a $50k year?? \n\nYou have not burned your ships!!\n\nYou don\u2019t have the mentality of win or die", "replies": [{"id": "hpr1ff9", "text": "I guess you didn't understand my comment.", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "hp9es29", "text": "about five years\u2026", "replies": [{"id": "hpqzrri", "text": "This is hilarious! The blind leading the blind!\n\nOP if you want to be rich before Elon Musk reaches Mars, go ask people who did well their first year for advice. \n\nPeople can only tell you how to do what they\u2019ve already done.", "replies": [], "depth": 2}], "depth": 1}, {"id": "hpcwkxr", "text": "I work for a JLL/CBRE/CW/Newmark in Capital Markets which has a bit of a longer sales cycle than leasing. It took me 3 full years to have what i\u2019d define as a decent year and into my 4th year is when I finally didn\u2019t worry about when my next paycheck is coming", "replies": [], "depth": 1}, {"id": "hpfidmz", "text": "I started in CRE when I was a junior in college and I'm currently 24 years old as well. I've made a number of deals over the years and honestly the confidence has yet to come. Although I have about 25+ Million in transactions under my belt I've yet to gain the confidence you're talking about. I believe it's strictly due to the fact you have no idea when your next check will come. The only advice I can give as a young guy in this business is, stay the course and make it a goal to learn something new everyday. This business is like learning a new language.. expand your vocabulary. Also never chase the money because it will run. Focus on making the deals and learn from your mistakes for next time. Also I would learn how to use the 1099 commission structure to your advantage. Learn how to properly invest the lump sum.", "replies": [{"id": "hpgllm7", "text": "I chased the big money deal this year and got burned very recently. It really put a lot of things into perspective.", "replies": [], "depth": 2}], "depth": 1}, {"id": "hpfwwpa", "text": "This is likely dependent on the brokerage you're at, but for the most part something I've noticed in the CRE industry is the Age Gap. I'm in a very similar situation as you, 23yrs old &amp; have been working just over a year &amp; a half in a smaller boutique firm. Personally speaking, it's really quite unique that many of the individuals I'm working with have been in the industry longer than I've been alive. Maybe it's the market I'm in, but I feel that this age gap is only getting bigger.", "replies": [{"id": "hpvqkg8", "text": "That\u2019s because of the Great Recession.", "replies": [], "depth": 2}], "depth": 1}, {"id": "hpqzghp", "text": "Dude you are either going to be an predator or prey. \n\n\u201cI was told I won\u2019t make anything my first year\u201d Ok and you listened????\n\nPlenty of agents make hundreds of thousands their first year, I can list them if you like. \n\nOne common trait among them all is that they don\u2019t think like you do right now. Change your mindset or suffer", "replies": [], "depth": 1}, {"id": "hpvqupw", "text": "I\u2019m 8 years in and the thought of failure haunts me. It\u2019s an irrational thought based off the career I\u2019ve had but that\u2019s just who I am. Lol. Tbh though, once you have $200-$300k in the bank, after taxes.", "replies": [], "depth": 1}]