Offered a job with KW Commercial
I've been an agent with KW for about a year, with strong intentions of moving into commercial real estate. I don't have a specific focus, I just know I've wanted to be in commercial rather than residential. I live in a large, hot real estate market. 

So earlier today I went to meet with another KW Commercial agent from another office that I connected with online, and was kinda blindsided to find out that it was an interview to join their team. I met with a team of two individuals, and these two are looking for someone to help them take care of all the leads that are generated by the team through referrals. It wouldn't be cold calls or constant lead generation, the leads are already there and I'm following up on the leads that are received to close on those. 

They are also covering my first six months of office fees also to help with the transition. They're looking to grow the team but want to mentor someone one at a time, so want to give it a shot for about six months. They say that last year they earned $100M in production, which is about $1M commission for each of them (2% commission on the deals). I'm honestly a bit skeptical on that part, but they seemed genuine and may be telling the truth. I was asked at the beginning how much I would expect to earn, and I said ideally $200K+ and they said that's a lower end for commercial real estate based on the amount of leads they generate through referrals. Might not hit it my first year, but said I would see $1M easily within a few years. It all sounded very Boiler Room-ish, but I'm leaning towards giving it a shot.

Should I go for it, any thoughts or opinions?
[{"id": "efemfft", "text": "Doesnt hurt to give it a shot, but I would be pretty skeptical of their income numbers. That's very very good business for 2 people. ", "replies": [{"id": "efeon30", "text": "I thought so too, but other commercial agents I've talked to in the area have told me similar numbers. The people I met with today were realistic with the turnaround time too, said it could be at least six months until I close my first deal. ", "replies": [], "depth": 2}, {"id": "efk8n7m", "text": "Copying my message from below:\n\nI was able to find a bit more info on the team and the main guy I met with had an award through KW for having $10M+ production...in just the month of December! I think this guy is legit so why wouldn't I want to learn from him if he's offering a mentorship?", "replies": [{"id": "efk9bh0", "text": "For sure. I would go for it if they are legit and willing to bring you on could be a good opportunity. Worst that can happen it's a learning opportunity. ", "replies": [{"id": "efk9ou1", "text": "Thank you! I also reached out to them regarding a non-compete agreement also and the terms in case it doesn't work out down the road. I don't anticipate it not working out but it's always a good idea to be covered just in case. ", "replies": [], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "efenz5y", "text": "Just did a deal w/ two kw commercial brokers on the westside of LA. Seemed like good people who know their stuff. Something that is EXTREMELY important is that they're willing to train you and put in extra time with you.", "replies": [{"id": "efeosqk", "text": "Yes, that was one of my main questions for training because it's so new to me. They said they expect about 60/40, 60 being what I can absorb from being around them, and the 40 being hands-on training. On top of this, there are multiple webinars to watch that KW Commercial offers as resources and training. ", "replies": [{"id": "efeoxaz", "text": "pretty good. Is it sales training courses or are they real estate courses? I'd look into taking some RE courses at a local school at night if possible... will jump start your learning curve", "replies": [{"id": "efez545", "text": "Not sure what type of training it is, but I would guess it's real estate focused since it's from KW. The individuals I met with today said it's basically a way to get a better understanding of commercial properties and the lingo. ", "replies": [], "depth": 4}], "depth": 3}, {"id": "efesdmo", "text": "Sounds better than a gig at Marcus. \n\nYou can look them up on Costar to see if their numbers add up. ", "replies": [{"id": "efeyyaq", "text": "That's a good point. I'll see if I can get someone's access to Costar to check it out. What do you mean about Marcus?", "replies": [{"id": "efezwdr", "text": "Marcus and Millichap. \n\nIn terms of places I would not want to work, Keller Williams is a step above Marcus and Millichap. ", "replies": [{"id": "eff01sr", "text": "Good to know, thanks for the clarification. I'm so new to this industry that I read \"Marcus\" and immediately assumed Neiman Marcus lol", "replies": [], "depth": 6}], "depth": 5}], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "efetlpe", "text": "Given where valuations are, I would believe their numbers if you\u2019re in a hot market like you said. Especially working at a boutique shop where you get larger splits - a buddy of mine pulled in over 1.2M last year.\n\nI would recommend taking the gig. Do as much ground work as possible during the 6 month mentor period to set your self up. Closing your first deal can take a long time in brokerage and if you\u2019re on commission, that can mean months without a check. Not sure how old you are or what your personal situation is but be willing to move back home or rent a room from a friend for cheap to save cash rather than loading up credit cards while you wait for that first deal to close. Not saying these things to scare you, but rather to prepare you. \n\nGet after it and good luck! ", "replies": [{"id": "efez6a5", "text": "Thanks for the advice! I'm starting to lean closer to taking the job. ", "replies": [], "depth": 2}], "depth": 1}, {"id": "efevy8z", "text": "Not sure about the boiler room thing...Do you remember if they threw their keys on the table or did they show you their watch?", "replies": [{"id": "efezt4z", "text": "They weren't showy about anything other than saying they had $1M in commissions, but one of the guys was wearing a Rolex that caught my eye", "replies": [], "depth": 2}], "depth": 1}, {"id": "efewrb1", "text": "Be SUPER careful.  People in this business will use the heck out of you if you let them do it.  If you are the only person doing this with them then that is great but if they have a bunch of people making cold calls it's probably a dead end.  Your nurturing their contact list and the sales cycle in this business is super long and takes years so if you leave on year 2 or 3 they get to keep a lot of the goodwill you might have built up.  \n\nA warning sign is if they are having your pass along all of the hot leads and not involving you.   Or if all of your leads are low quality true-cold calls with no relationship, a referral would be a hot lead.  \n\nIt's also kind of odd you didn't mention anything about your compensation package or what type of real estate you are getting into...  I assume you are going to be buying and selling apartments?  Sales cycle is ridiculously long vs. leasing any type of property.  In the apartment world all you can do is buy and sell so it's a different ball game than retail office and industrial where brokers are both buy/sell and lease.  ", "replies": [{"id": "eff0vsx", "text": "Yes I'd be the only other person on the team. It's currently a team of two people looking to add an associate to make it three people. Once I (or whoever joins the team) gets up to speed, they will look to hire another person if they need more help handling the incoming referral leads. These will be all types of commercial properties, multifamily, land, office buildings, retail, industrial... Pretty much all the ones I remember them mentioning. ", "replies": [], "depth": 2}], "depth": 1}, {"id": "efewzow", "text": "Apart from all of the positivity, I\u2019ll just state many KW Commercial and Remax Commercial brokers in my market seem to be far less knowledgeable than brokers at \u201ctrue\u201d commercial firms. I don\u2019t know any of them that have a listing with one of the major development shops and there is definitely a perceived (whether real or not) notion that these brokers are not as proficient. I have personally had one good experience with one of these shops\u2019 brokers, but have had many separate poor to miserable experiences.\n\nAside from the statement of lack of major developer listings in my market, the rest of it is just anecdotal. I know commission splits at these shops can often be better for new/intermediate agents than what you can find at most strictly commercial firms as well.\n\nBest of luck to you!", "replies": [{"id": "efezw0t", "text": "I appreciate the advice! Yes I've heard that the true commercial real estate offices have more splits so commissions are lower", "replies": [], "depth": 2}], "depth": 1}, {"id": "eff8rh5", "text": "If they do that much volume you should be able to verify that through CoStar or just Googling them. There should be articles about them and their deals.  I work at KW Commercial and have CoStar if you want me to check them out.\n\nTeam leaders always talk a big game to entice you. In the end, it's all about you and how hard you work that is going to make you successful, not your team or your brokerage. ", "replies": [{"id": "effpx2l", "text": "They recently closed a deal that took two months, and got $100K commission from just that one deal. They said it's important to fill your pipeline with as much activity as possible so that the commissions keep flowing through and don't dry out. They have so many leads through flipping each call into a \"who do you know that is looking for commercial real estate\" so they get a ton of business that way. They want me to be the business development person to call these leads and ask that same question to get more referrals. \n\nBut at the same time, they want to close the referrals and leads they currently have otherwise they have too many and not enough manpower to take care of it all. With just the two of them, it's hard to manage and that's why they want to hire another person. ", "replies": [], "depth": 2}], "depth": 1}, {"id": "eff8ulv", "text": "Have you looked up their numbers or transaction history on the local mls?", "replies": [{"id": "effqpwh", "text": "I'll check the local MLS today, but I don't have access to Costar", "replies": [{"id": "efg8l5n", "text": "I doubt you'll find all of it there but it might give you an inkling of there history. Seeing a single big listing or purchase there would be reassuring", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "effjgbp", "text": "This is all good skepticism here. Not to like in but... So they claim they make a million a year off referrals? \n You might make a mil off referrals for ONE year. If they are doing it for multiple years, then the broker's uncle is either Dale Carnegie incarnate or the Sultan of Brunei. \n\nAnd like everyone said, check out deal volume. There is a big difference btw making a million of 75 deals vs 4 deals. This will also help hone your BS detector. Might sound counterintuitive but you want a low number of deals that are larger in size. \n\n", "replies": [{"id": "effpuw4", "text": "Deal volume is a good point, I'll look into that. Their main focus is wealthy investors looking for cash flow or a business, and connecting larger well-known clients with the land/building. ", "replies": [], "depth": 2}], "depth": 1}, {"id": "efj0hle", "text": "There is almost zero percent chance you'd make $200k in your first year. Doesn't sound like they are being very up front with you.", "replies": [{"id": "efj0qcd", "text": "They didn't say I would hit that my first year, they asked me what I would expect to earn and they said $200K would be tough in the first year but in a few years I would easily see $1M in commissions, probably before the splits.", "replies": [{"id": "efj105k", "text": "Most brokers never make $1M/yr in their entire career if that's what they are implying. Those that do, usually have 10+ years experience first.", "replies": [{"id": "efj3g0k", "text": "Are you sure? I've met more than a few commercial real estate agents and brokers that do extremely well. ", "replies": [{"id": "efk5lmz", "text": "Yes, many do very well. But it's a small percentage that make $1M+ per year. I'd wager less than 0.1%.", "replies": [{"id": "efk8kqg", "text": "While that may be true, I was able to find a bit more info on the team and the main guy I met with had an award through KW for having $10M+ production...in just the month of December! I think this guy is legit so why wouldn't I want to learn from him if he's offering a mentorship?", "replies": [{"id": "efkes23", "text": "I'm not saying don't take up the mentorship, and starting with a team that is doing well is an excellent way to start in commercial real estate.", "replies": [{"id": "efkg4rr", "text": "Gotcha, I appreciate your advice", "replies": [], "depth": 8}], "depth": 7}], "depth": 6}], "depth": 5}], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "iqow7xc", "text": "Any update?", "replies": [], "depth": 1}]