New tenant rep broker starting in two weeks
Hi r/CRE, I'm starting my new position as an industrial tenant rep broker in Dallas with a small firm started by some senior guys from Lee &amp; Associates. I'm seeking any and all advice as well as answer questions anyone may have for me, especially pertaining to finding a job.
[{"id": "dikd71l", "text": "Nah we're good. Im sure you'll let us know when you have more specific questions for us though. ", "replies": [{"id": "dikstqo", "text": "Oh for sure because I'm sure I'll drown my boss with them. ", "replies": [], "depth": 2}], "depth": 1}, {"id": "dil0cdp", "text": "If they are senior L&amp;A people, they are on 90/10 splits ect. Why would you give that up to start your own company? \n\nFigure out the real reason why these guys left. The amount of dumb young kids I have seen ruined by working with shady senior guys is immense. ", "replies": [{"id": "dilbpzw", "text": "Hmm, perhaps senior wasn't the right word. I believe they left because they (obviously) wanted to start their own firm and wanted easier access to partnership. In my offer of employment letter they plainly spell out the production levels required to achieve partner. Everyone who I have spoken to in the area has great things to say about the company.\n\nWhat kind of pitfalls would you tell young people to look for?", "replies": [{"id": "dilhh7j", "text": "I would see what role you have in this company and how you are paid for it. You have your sales license? How many years in the business do you have? \n\nIf you are just starting out, I would recommend one of the larger companies since they have better training and networking. \n\nSmaller companies can give you a bigger slice of the pie, but that is assuming you have the network and experience to do everything yourself. \n", "replies": [{"id": "dilpt5g", "text": "Yes I have my license. I just graduated so this would be my first foray in to the industry.\n\nI have contacts at bigger companies, although this company was the first to give me an offer. I might have been able to produce an opportunity at a larger company, but it most likely would have materialized well after graduation.", "replies": [{"id": "diltmar", "text": "OK, not sure about Texas, but it takes awhile to get the ball rolling in this industry. \n\nDo a deal, no matter how small, just get one under your belt. Hit the phones, walk buildings, learn your market.\n\nTenant rep is tough since you will be screwed and you don't have the protections of a leasing agent. \n\nYou need to make friends before you need them, and hopefully you have 6 months or a years worth of living expenses saved up. If not, move back in with your parents. \n\nAre you on a draw or a straight commission? ", "replies": [{"id": "dimgryi", "text": "Fortunately I'm salaried for 6 months and it can be extended if need be. I also was able to create somewhat of a network of contacts in the industry while in school. ", "replies": [{"id": "dimzaex", "text": "Well, good luck. You are lightyears ahead of the competition then. \n\n", "replies": [{"id": "dinag4y", "text": "Thank you for the encouragement! That means a lot. ", "replies": [], "depth": 8}], "depth": 7}], "depth": 6}], "depth": 5}], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "dileiye", "text": "I post a lot of videos on sales tactics to generate more tenant rep business. Hopefully this can help you: https://youtu.be/_oq5LFpy51A\n\nYou can view more videos there too. ", "replies": [{"id": "dilf42p", "text": "Thank you!", "replies": [], "depth": 2}], "depth": 1}]