CBRE or stay residential?
Hey All 

Just looking for some opinions to help me process this. As some of you may know, I have come from a career as a financial advisor to the world of real estate. 

Due to my background in analytics, I was initially looking to get into the commercial game. But, no opportunities presented themselves, so I ended up in the residential business. I've been at it long enough that I'm just starting to see success, and my pipeline is starting to fill up pretty nicely. 

Long story short, the partner of the local CBRE office just reached out to me, asking if I'd still be interested in joining his team. I don't want to throw away all the hard work I've gained in residential land, but a few people tell me that getting in with CBRE would be the proverbial golden ticket, and I'd be crazy to turn him down. 

Thoughts? Basically, should I capitalize on the success I have in residential land, or jump on the supposed 'gravy train' of commercial, as some have put it to me. 

[{"id": "dlwqumq", "text": "from a long time family friend once said to my dad of 40 years of commercial real estate \" Steve, get out of the stick and into the brick!\" stay commercial and never work a weekend again in your life.", "replies": [{"id": "dlwupzf", "text": "I don't know who told you that.  I work 24/7.  I just got home from the office 20 minutes ago.", "replies": [{"id": "dlx9i64", "text": "It means get out of residential and into commercial.\n", "replies": [{"id": "dlx9qiq", "text": "...?  I'm a commercial agent.  The idea that it's some sort of easy money gravy train is ridiculous.  Good luck with that line of thinking though.", "replies": [{"id": "dlx9z0w", "text": "I'm sorry I responded, residential is always weekends. Good luck and Godspeed on finding the right combo of time money management and free time. ", "replies": [], "depth": 5}, {"id": "dlxawnh", "text": "I apologize, I used poor terminology. By saying 'Gravy Train' I didn't mean to represent the work as easy, more so the moneys there if one becomes successful, hope I didn't insult your line of work.", "replies": [{"id": "dlxcce3", "text": "Didn't mean to be short.  The business is what you make of it.  I've seen 15 people come and go through my office over the last 2 years.  Only 3 of the original people still work here from when I started last January.  It took me 12 months basically unassisted to learn the business, start cold calling clients, get my first listing and close it.  12 months unpaid.  Some guys may go 24-36 months depending on how long it takes for you to either quit or get hungry enough to do this business right.  Takes a chip on your shoulder and not wanting to be broke ever again.  That along with very good organization, excellent communication skills, ability to navigate difficult conversations and negotiate, expert knowledge of real estate and laws, etc.  At the end of the day you can make a lot of money, but I'm your competition and I'll chew you up and spit you out - you won't win one deal from me.  At least that's the mindset of the people you will be swimming with.  It's a good business, but don't go in thinking you've made it before you even walk in the door.  That's a guaranteed 6 months - 2 years wasted and back to residential.", "replies": [{"id": "dlxglo5", "text": "This is the best response in the thread. 100% right", "replies": [], "depth": 7}, {"id": "dlxipdl", "text": "I've closed close to $6million in volume in my first 10 months of residential, and that's moving to an area where I had 0 contacts, so I feel as though I have the right idea on how much hard work prospecting can be, and if anything, due to the lower barrier to entry, competition is WORSE in residential land, my local association alone has over 30,000 licensees. I relish the more technical aspect, but appreciate your insight, it seems like a dog eat dog world, but a bit part of me likes that! ", "replies": [{"id": "dlxpwps", "text": "Maybe residential is a good fit for you.  You're obviously making money.  Why change it up?\n\nI work in investments so less pretty pictures and more cold hard facts and numbers.  Different skill set than residential.  Office leasing might be a good crossover for a good residential agent.", "replies": [{"id": "dlxqp40", "text": "Due to my old career in finance, the cold hard facts and numbers are what I miss, that's exactly why I want to make the transition.", "replies": [{"id": "dlxr7kq", "text": "Good.  Going from how you said prior career, I'll also let you know that entering commercial is a young man's game.  If you're in your 30s with no experience you're at a big disadvantage (that's what I did).  However, if you're prepared to hustle, sacrifice some free time, and pursue valuable relationships at all costs then you should be fine.  If you're in your 50s that might be more difficult.", "replies": [{"id": "dlxrbb2", "text": "Was a financial advisor for 7 years, but started fresh from college, FWIW I'm 29, so just sneaking in during my 'young' years, thank you for the advice! ", "replies": [], "depth": 11}], "depth": 10}], "depth": 9}, {"id": "dlxvip4", "text": "Retail too IMO.  Agree with all you've said here, great posts.  \n\n", "replies": [], "depth": 9}], "depth": 8}], "depth": 7}], "depth": 6}], "depth": 5}], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "dlwu1i0", "text": "Where? And who is the person at CBRE? What is the position? \n\nIs it a runner position? Would you be commission based? \n\nIf it was Los Angeles and it was Brian Eisendrath, I would take it, you bet your life you take that. \n\nCommercial is pretty easy, and CBRE is a pretty cushy company, if you are working with one of the top people there. But if you are working with the third string guy, well, still better than working open houses on the weekends. \n\n", "replies": [{"id": "dlwuk7d", "text": "Phoenix area, commission based within the brokerage, just looked at Brian Eisendrath's profile, that guy seems like a stud!", "replies": [{"id": "dlxl7re", "text": "Is it Multi-family? I would take it if it was anything BUT MF. Industrial investments are killer right now, MF or NNN retail are not as in vogue. ", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "dlx0uu6", "text": "CBRE is a well enough place to start off if you are just getting into commercial. It's obviously important to know what asset class you'd be focusing on and the actually commission splits they offer you", "replies": [], "depth": 1}, {"id": "dlx3nhi", "text": "CBRE is a great firm as a whole, but it all depends on who you'll be working with and what you'll be doing. You said it's commission based. Is it a 100% broker role or an analyst or some type of hybrid? Commercial is a million times better than residential but it's no \"gravy train\", there will be some weekend work but it'll be at your discretion (vs the meat of your work week), and if it's easy you're probably not doing it right. If you're going to be a broker on an investment brokers team who does some serious volume then jump all over it, just be prepared it may take a year before you sell your first deal. If you're going to he an analyst for a land broker who doesn't do a whole lot you might want to really give it some thought before you make that jump. To make any decent money in residential you'll have to build a team or your own firm whereas in commercial you can make real money as a broker and if you have a team or a firm you can make far more than anywhere in residential, but it's important the spot you're considering is what you want to he doing. ", "replies": [{"id": "dlxb5cj", "text": "It is 100% commission, broker role on an investment brokers team. Apologies, I used poor terminology. By saying 'Gravy Train' I didn't mean to represent the work as easy, more that if one becomes one of the 2% that make it big, the money is there in spades. The one year before your first deal is something I've heard alot that worries me. Took me 4 months to get my first deal in residential land, but I'm about to finish my first year close to $6million in volume, nervous about throwing away the momentum I have, but trying to think long term.", "replies": [{"id": "dlxhu60", "text": "That's not bad at all for residential. If you're in the top 2% off commercial guys you're making some serious money. I'd say (with no proof) that the top 50% of commercial guys make more than the top 1% of residential guy. There is that period where you'll have to survive before your first deal, but if your team leader is strong you'll get there. Be mindful to not get sucked in the sunk cost fallacy, and do your research, but my opinion is that unless you have years and years of contacts benefiting residential or your own brokerage I can't think of how residential would be better than commercial.", "replies": [{"id": "dlxjdib", "text": "That's kinda where I'm at. I'm looking at it and thinking I'm no so far gone into the residential field that I can't pull out, but the longer I'm here, the harder it will be for me to leave. I think commercial is the smart choice for the long game. ", "replies": [{"id": "dlxksbp", "text": "There are very few situations where residential makes the most sense, especially long term. In addition to everything we know now, I think residential agents will be impacted by technology and companies like Zillow, whereas a commercial broker acts much more as an advisor that just a deal facilitator. ", "replies": [], "depth": 5}], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "dlx4h92", "text": "No question, go commercial. ", "replies": [], "depth": 1}, {"id": "dlxdla5", "text": "Off Topic Question:\n\nI'm looking for some career advice and I think you might be the right person to ask some questions.\n\nI'm debating about pursuing a career in financial advisory or commercial real estate. Could I ask you some questions about your career path?", "replies": [{"id": "dlxdp05", "text": "Certainly, fire away", "replies": [{"id": "dlxeff3", "text": "You mentioned in your thread that you come from a background in financial advisory. \n\nWhy did you pursue a career in financial advisory? What was so attractive about that field in the beginning? How long was your career in the financial services? Did you get licensed? Why were you not satisfied? \n\nYou're in the real estate sector now. What was the reason for the transition? Why was real estate more attractive than the financial sector? \n\n&lt;- currently an entry level compliance analyst with series 7. I'm debating my options of trying to pursue a career as a financial adviser or whether I should become a commercial broker. \n\nAny advice/opinion would be helpful.", "replies": [{"id": "dlxf45t", "text": "It was kinda the 'family business'. Both my father and grandfather were FA's in another jurisdiction, so to be honest that's what I was raised wanting to do, as I looked up to them. I was an FA for 7 years, fully licensed and with my CFP designation. \n\nMy underlying passion has always been real estate, I started investing in it about 3 years ago. I got so much joy and excitement from the deals there, something I never got from securities. The straw that broke the camel's back for me was when investment sales regulations became so obtuse, and compensation so restricted, that my compensation started to become disparate from my efforts. \n\nFinally, in my opinion, real estate is an easier sell. Now a days every potential investment client is going for bargain bin advisors/shops (think fidelity), or simply doing it themselves, they don't want to pay for my expertise. Head to r/personalfinance and you'll see everyone there thinks they're investment pros. The industry has become toxic to me, and life's too short to not do what I love.", "replies": [{"id": "dlxh2pr", "text": "This is thorough info. Thank you. Can you explain the investment sales regulation in more detail? What specifically hindered your ability to produce more sales? How dramatic was the recent change? ", "replies": [{"id": "dlxj70s", "text": "Without going into to much detail, investment advisors are basically a lot more heavily scrutinized than they have been in the past. I don't necessarily think that this is a bad thing, but in my opinion its swung to far in the other direction. \n\nWe now have to make sure that every recommendation is bullet proof. If that recommendation fails to perform well, the client can complain, and then our every decision for the past 5 years will be under the spotlight. It gets to the point where most advisors become so conservative, that they no longer make recommendations in the clients best interests, but in the interests of not being sued. ", "replies": [{"id": "dlxjkbc", "text": "Thank you for your helpful answers. You seem to be a very knowledgeable individual. I hope you the best in your future career. ", "replies": [{"id": "dlxjlmz", "text": "You're welcome, same to you! ", "replies": [], "depth": 8}], "depth": 7}], "depth": 6}], "depth": 5}], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "dlxgj9z", "text": "1) Residential is a completely different animal than commercial and you'll be basically starting over.\n2) Commercial hours are way better than residential.\n3) Commercial clients are usually much more sophisticated than in residential, and you're going to have to really know your stuff.\n4) The \"gravy train\" will not start until after 2 plus years of paying your dues. It's a grind at first for very little money until you can work on larger deals, especially at a larger brokerage.\n5) If you are ok with 1-4, are tenacious and hardworking, then go for it!", "replies": [{"id": "dlxjbkq", "text": "Thank you for your thoughts! ", "replies": [], "depth": 2}], "depth": 1}, {"id": "dlxst0m", "text": "I started at a competitor to CBRE as a research analyst last year and I know it's different than what you're being offered, but I can certainly tell you that commercial is a great place to be. Like everyone else is saying, the hours are better, and you're dealing with businesses instead of people, which generally implies more professional interactions. CBRE is a great company, and one that a lot of other companies try to pull from. You'd definitely set yourself up for success by getting started there. \n\nGood luck. ", "replies": [{"id": "dqtm5an", "text": "I am currently looking into a research analyst position. Do you mind sharing the pay range and your locale?", "replies": [], "depth": 2}], "depth": 1}]