Commercial vs Residential life-style
Hello Everyone,

I am at a standpoint right now between choosing to become a commercial real estate agent or a residential realtor. I am already a realtor and have already sold some properties and managed to make some good cash compared to a regular job. I have seen many successes in both fields, but I don't know which one to venture into. We all know that commercial real estate is extremely lucrative, but I do believe residential can be a gold mine as well. When it all comes down to it, how is the lifestyle of each type of agent, and what gives you a better work-life balance? Also, do any of you know of Commercial agents that went into Residential?
[{"id": "cjkiojb", "text": "Both are feast or famine, eat what you kill, 24/7 jobs.  \n\nFor residential realtors, the bulk of your work with customers is evenings and weekends - it's when they're available. Mid-day during the week you're doing paperwork and marketing.   \n\nCommercial agents do more of their work with clients during normal 8-6 business hours. Administrative work is evenings and weekends.  \nBoth can bring a decent income.  \nCommercial deals take longer and you don't do as many - with perhaps the exception of smaller leases. Large multi-million dollar deals can take a year or more to close and you'll be working with lawyers, city planners, engineers, etc.\n\n  \nResidential requires more customer hand-holding and the deal cycle is quicker. Most houses close in 30-60 days. To be successful, you always have a lot in the pipeline.  \n\n\nCommercial is about the numbers. Sure you have to be good with people, but you'd better know cap rates, rent multipliers, cash-on-cash return, lease vs purchase analysis, 5-10 year projections, creative financing, etc. \n\n\nResidential is about reading people and knowing how to find what they want, or to match their needs with properties. It's a much more emotion-driven decision. They care about the color of the carpet, even though you know that can be changed for a few thousand dollars, and often can't see beyond the paint on the walls. You need to be good at helping them see beyond that. \n\n\nNeither one offers a great work-life balance if you're killing it. It really depends what your \"life\" side of the equation looks like. If you're single and focused on work, it may not matter much. If you're married and have young kids, you may prefer to be home when they are. If you like to get away for the weekends - maybe commercial. If you prefer to go for a long run or bike ride in the middle of the day - maybe residential.   \nGood luck with your decision.", "replies": [], "depth": 1}, {"id": "cjkjgp2", "text": "Residential is more qualitative and commercial is more quantitative.  Which way of doing business appeals to you more?", "replies": [], "depth": 1}, {"id": "cjksokf", "text": "I'm a commercial broker, I do net leased, shorter escrows more deal flow lots of $1-3mm deals.  I work 8-6 m-f sometimes later some weekends, but, not really.  I don't mind 24/7 at all.  I'll gross $700k this year, which is a good year, last year was $500k.  I'vebeen doing it on and off for 10 years but only really full time focused exclusively on net leased the last 2 years.  Resi agents can do really really well if you're in a major metro area, like NYC or LA.  If not, you're selling 400-500k houses and doing marketing and making like $5-10k a deal which depends where you live is decent dough.  If you really want to work with people who can be very needy but make \"dreams\" come true.", "replies": [{"id": "cjkum0j", "text": "Can I ask what city/market you're in?", "replies": [], "depth": 2}, {"id": "cjlo50d", "text": "How long does it take for one to get to a level where they can make a decent living? I'll be starting in the south florida region. ", "replies": [{"id": "cjm6yvt", "text": "Honestly it takes 18 months of little to no income. Then it's a matter of how savvy you are as a salesmen and networker. It's not for the faint of heart. A lot of people quit. ", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "cjvoull", "text": "I think it really depends on the opportunities available to you. If you are in a sophisticated commercial market and have the option to work for a well-established shop with a good team, I would say go the commercial route.\n\nIf you are in a smaller market without much commercial product, residential would be the safer move.", "replies": [], "depth": 1}]