Getting started in Commercial Real Estate out of college
I’ve been looking around and doing some research. Found out that most people say when getting started in CRE as a broker, you won’t have any income at the start.

While I’m passionate about the industry and working on getting a license, that’s something that would be difficult for me. 

Is there anything I can do to work past this or any major agencies like CBRE that pays in some sort of salary + commission atleast for the first few years? 

Appreciate any advice
[{"id": "iwe8yqf", "text": "Most large firms like JLL/CBRE/C&amp;W won\u2019t start you as a broker, rather an analyst with salary + bonus. Gives you time to learn the business and build a book, then transition to the 100% commission side (with a draw if needed) when you are ready.", "replies": [], "depth": 1}, {"id": "iwe90b8", "text": "To be clear this applies to brokerage roles. Companies like CBRE and many others are huge and have many service lines. that said as you have stated, for the most part no, there is no salary. You could see if you can get a salaried position and forgo commissions. Really what you will be looking at is living at home and getting on the best team you can to earn education which is the currency you want to be focused on in the beginning of your career.  You could also look into getting a Draw which can be thought of as an advance on your commissions and in some cases, depending on the team, you may not be responsible for that draw if you don't make the numbers.", "replies": [], "depth": 1}, {"id": "iwernpc", "text": "Marcus &amp; Millichap has a fellowship program that pays a salary and possibly some commission depending on what team you're on, it's a grueling 2-Year rotational program with the plan to transition into investment sales brokerage after completion", "replies": [{"id": "iwfcmu8", "text": "Marcus &amp; Millichap is the Northwestern Mutual of the CRE industry.  Hard pass", "replies": [{"id": "iwfdl96", "text": "Doesn't matter what firm you're with as long as you're on the right team, if you can't succeed  then it's on you not anyone else. 90% of success is up to the individual and people that are so quick to blame the firm for their own failures is embarrassing", "replies": [{"id": "iwfeb4m", "text": "I\u2019m on the buy side and see nearly every industrial deal that comes to market in the Sunbelt over $10MM.  I have done deals with the bottom of the barrel guys at MMM as well as the guys on IPA.  The guys are IPA are average at best and the guys at the bottom are basically glorified telemarketers trying to hustle for scraps in what is essentially a multilevel marketing scheme.  As a firm, MMM has a policy of throwing shit at the wall and seeing what sticks, and it reflects in their terrible reputation in the market place.  Suggesting that someone start with career with MMM is terrible advice and is absolutely doing them a disservice.", "replies": [{"id": "iwff71c", "text": "Like I said not all offices and teams are created equal, and a talented/motivated individual can succeed anywhere. M&amp;M has a bad reputation because of people like you who think every broker is the same. Even though most of M&amp;M is bottom of the barrel, the top 5-10% are extremely successful and masters of their craft", "replies": [], "depth": 5}, {"id": "iwh1wqa", "text": "What market are you in? In the PNW M&amp;M doesn\u2019t seem to have the negative reputation that many on here claim. I\u2019ve talked to brokers at C&amp;W, JLL, etc and haven\u2019t met anyone with that perspective.", "replies": [{"id": "iwh2dh9", "text": "I cover 18 markets across the Nation from Phoenix to Charleston/Florida.  Definitely cannot speak to the PNW.", "replies": [{"id": "iwm7v64", "text": "Similar reputation in the PNW as you described. Though, there are a lot of successful brokers that come out of there. \n\nThey heavily monitor your call performance, set and enforce goals. \n\nWhile I would never want to be at a firm like that, it's somewhat of a bootcamp that can really beat the concept of making something out of nothing into young brokers. \n\nIf you have an opportunity for an investor, they won't give a crap what firm you are with.", "replies": [{"id": "iwm8212", "text": "Sure, on the buy side I don\u2019t give a shit who the deal comes from, but why would I ever give a sell side assignment to a MMM broker?", "replies": [{"id": "iwm9gqu", "text": "Sounds like you wouldn't! \n\nThat doesn't represent individual markets, that may have solid teams that know the biggest buyer pool. \n\nI agree, MMM doesn't have a good reputation. \n\nA lot of shitty brokers at all of the big firms wouldn't be worth your time either. MMM paid good money for some really solid teams over the last 5-7 years in this market and I would assume that's happened elsewhere too.", "replies": [], "depth": 9}], "depth": 8}], "depth": 7}], "depth": 6}], "depth": 5}], "depth": 4}], "depth": 3}], "depth": 2}, {"id": "iwfkr5v", "text": "MM did a presentation at my school\u2019s real estate club one year. One kid asked what their average deal size was. They said it was $3M lol. You won\u2019t be seeing any institutional deals there.", "replies": [{"id": "iwgez00", "text": "Who says you need to do institutional deals to be successful?", "replies": [{"id": "iwgj8bu", "text": "My lead broker started at M&amp;M and average deal size is in the $80m range and does $2-3B in sales a year now. Think they are an exceptional case, but thought I\u2019d share.", "replies": [], "depth": 4}, {"id": "iwh9c7q", "text": "Don\u2019t put words in my mouth. This is real estate- there are realtors out there making $1M a year. It\u2019s just a different experience. Working on institutional deals allows you to better understand what funds, investors are looking for. You won\u2019t be calling a retired doctor trying to get them to sell their property. You\u2019d also be building your modeling skills at a CBRE/JLL where they legit train you and you can build a network. Similar to how commercial real estate is more complex than residential, institutional real estate is a bit more complex than sub $3M office buildings in the middle of nowhere.", "replies": [], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "iwfcfd8", "text": "Are you sure you want to be a broker? Where do you live? Open to move?", "replies": [], "depth": 1}, {"id": "iwfecmw", "text": "Seconding the top comment. I work for one of the big firms and I know a couple of our Financial Analysts get a small percentage of the commission for each deal they assist with (like $1,000 to $3,000 per deal I think) in addition to their base salary.", "replies": [], "depth": 1}, {"id": "iwijmrq", "text": "Hey! \n\nTry using [this](https://www.etsy.com/listing/1330611864/prospecting-neighborhood-real-estate?click_key=17adf4fceb740e9615b815dc669b93f18f1f8f63%3A1330611864&amp;click_sum=1fba7b56&amp;ref=shop_home_feat_3) real estate template. Having different letters that I use to prospect different clients has boosted my real estate career! \n\nhttps://www.etsy.com/listing/1330611864/prospecting-neighborhood-real-estate?click\\_key=17adf4fceb740e9615b815dc669b93f18f1f8f63%3A1330611864&amp;click\\_sum=1fba7b56&amp;ref=shop\\_home\\_feat\\_3", "replies": [], "depth": 1}]