Commercial Agent who is struggling. Can someone please help me?
Can someone please help me? I worked really hard to earn my real estate license. It took me a year of studying and working part time while rearing a young family.   

I chose Commercial real estate and hit the ground running but didn't have a strategy. I closed out 1 deal but it's been 3 months since then and I am still waiting on the paycheck.  My husband told me the nest egg is used up and I can no longer work as an agent because I've been inconsistent with landing leads,  etc. I really want to earn 6 figures in two years,  or sooner,  but my self esteem has taken a hit. This is one of the hardest professions I've ever had the pleasure of cracking into.  Do you have tips or advice, or should I give up on my dreams?

TLDR: Commercial real estate agent having trouble learning the ropes and doesn't know where to begin.  Husband says office fees, etc. are costing too much as I have not made anything in nearly a year.

Thank you everyone for your tips and advice. I'm really glad I turned to reddit for this.
[{"id": "i6d8zc2", "text": "Commercial deals can range from a couple months to a couple years. If you\u2019re looking for fast cash, commercial isn\u2019t the route to go, especially if you\u2019re new and don\u2019t have mentorship. I\u2019d suggest trying residential, the deals are quicker, they pay less but you can work on volume.", "replies": [{"id": "i6d9rt1", "text": "Tbh, I was okay with having deals take a little longer.  I like to keep things professional and be at arms length. I get the impression that in residential there's a lot of hand holding. Not that that's wrong or that it doesn't happen in CRE, but in my limited experience there seems to be less of it.", "replies": [{"id": "i6dtl97", "text": "What exactly is the implication here about keeping things professional and being at arm\u2019s length. \n\nIn which role would that not be the expectation?", "replies": [{"id": "i6e7ow6", "text": "She\u2019s saying she doesn\u2019t want to be oncall 24/7 for first time homebuyers that want her to drive them around town on Sundays looking at houses they can\u2019t afford.", "replies": [{"id": "i6eixwb", "text": "And maybe not have to mix his or her neighborhood and family children\u2019s connections with potential work contacts. A successful residential real estate agent has to be \u201con\u201d in every aspect of their life. A commercial will work just as hard or harder to make contacts, but in a different way. It won\u2019t be at every soccer game or grocery store visit of their life.", "replies": [{"id": "i6ghrhj", "text": "I disagree. I work at work, not with my family, I don\u2019t generally do weekends, and I don\u2019t try to generate leads when I\u2019m shopping, at my kids games, or any of that nonsense. \n\nIt\u2019s about having systems in place that align with your skill set and goals. \n\nThis is my 2nd full year, I\u2019ll close 75+ sides this year.", "replies": [{"id": "i6i1p8a", "text": "I\u2019m glad you\u2019re doing so well! I don\u2019t think most agents necessarily try to generate leads in social settings, but I think many feel the pressure of being \u201con\u201d. It\u2019s great you don\u2019t feel that.", "replies": [], "depth": 7}], "depth": 6}], "depth": 5}, {"id": "i6gsttv", "text": "You gotta start somewhere.", "replies": [], "depth": 5}], "depth": 4}], "depth": 3}, {"id": "i6e7aqu", "text": "I would say there can be just as much hand holding on the commercial side depending on what area you are trying to specialize in. It\u2019s just a different kind of hand holding vs a family buying their first home.", "replies": [], "depth": 3}, {"id": "i6egihl", "text": "Professional? Set boundaries, I know plenty of residential agents who set boundaries for their clients, no calls after 9-9:30, explain how things are done. If you\u2019re looking for quick cash, you\u2019re in the wrong division. Commercial agents take a long time to build up their reputation and corner their target market. When I\u2019m using a commercial agent I\u2019m not looking for a newer person, im using an experienced agent who knows the market and has a network of companies they\u2019ve worked with over the years to find me the deals im looking for. It\u2019s a tough industry.", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "i6d9s1u", "text": "There is no quick fix I'm afraid. Commercial real estate can be lucrative, but you have to make it past the first two years, during which time you will make very little money and many brokers drop out of the business. It's not easy.\n\nIt can take years to build client relationships, experience and a book of business, so even if you are doing everything right, the results simply cannot be measured in month to month deal closings.\n\nPerhaps residential real estate is a better option if you are looking to make money more quickly? The time from meeting to closing and paycheck are shorter in that field?", "replies": [], "depth": 1}, {"id": "i6da4gg", "text": "Selling even residential real estate usually takes two years before you have enough volume to break even.  You\u2019re probably not doing anything wrong per se, you just have to have contacts. Some people start out with family or social contacts but otherwise it just takes a long time to build your reputation. I\u2019m sorry it\u2019s not working out so far and you\u2019re out of funding.", "replies": [{"id": "i6dabuo", "text": "Thank you.  I hadn't heard that it can take time to build up in residential, too.", "replies": [], "depth": 2}], "depth": 1}, {"id": "i6dggit", "text": "What is your lead generation and current brokerage/system look like?", "replies": [], "depth": 1}, {"id": "i6e40wu", "text": "Call every firm in your MSA. Offer to work under a mentor or team as a junior broker. Ask for a non-recourse draw. When I started, it was $30k / yr. There was no time limit per se but it was generally understood I wouldn't make a dime more for 2 years, and therefore my draw was for at least that long. It is long hours, difficult work, and you get put on the deals with least likelihood of closing, so it is challenging mentally. \n\nI realize $30k / yr is nothing. That's the point. I think now, my firms' junior agents get $35k.", "replies": [{"id": "i6eekyj", "text": "Thank you.  This is the most helpful post I've seen.  Just opened up this \"discussion board\" this morning and really could relate to this. I had a sense about this but didn't know where to look or what it was called - junior broker.", "replies": [{"id": "i6f4aat", "text": "I second this recommendation. Depending on your market, trying to get at a midsize to bigger firm is ideal. There has been so much consolidation in brokerage and the bigger the firm the more likely you'll get clients just because they have a national account or an account with a firm's office in another city.", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "i6eayl6", "text": "I would seriously consider another line of business. I have seen two brokers live in the office and one commit suicide in trying to make it work and failing.\n\nIt is not how hard you work, it is who you work for and if you have connections and most importantly, if you are the trusted partner of a company, landlord or developer. \n\nThe first deal is the hardest, so congrats, but I would seek alternative sources of income.", "replies": [], "depth": 1}, {"id": "i6efvya", "text": "The old real estate during the day bartender at night deal i see, get a night job basically", "replies": [], "depth": 1}, {"id": "i6egg5j", "text": "Everyone\u2019s first two years are usually their worst. It all depends on what market you\u2019re in, what asset class you\u2019re working on, your mentor, etc. \n\nWord of advice, many people rely off of lead generation from their company when they first start out. Try Massimo Coaching when you have the cash after a few deals. It helped me a lot. Focus on prospecting as much as you can when you start out to build up your pipeline. \n\nFor now, I\u2019d say try and find a salaried position. A few others here mentioned Junior Broker positions, which are certainly a viable option. When looking for a brokerage, ask for what they offer their agents - paying for costar, marketing, email blasts, etc. \n\nGood luck! Don\u2019t feel like you\u2019re alone, because I certainly had the \u201cis this really for me?\u201d thoughts in my second year when a lot of deals died and I wasn\u2019t hitting my quarterly goals.", "replies": [], "depth": 1}, {"id": "i6ehqdt", "text": "&gt;I closed out 1 deal but it's been 3 months since then and I am still waiting on the paycheck.  \n\n?", "replies": [], "depth": 1}, {"id": "i6eq553", "text": "\" I closed out 1 deal but it's been 3 months since then and I am still waiting on the paycheck. \"\n\nSomething is wrong if you haven't been paid yet.  Commission is typically paid out in full at closing.", "replies": [{"id": "i6hul42", "text": "It was a lease space with build out. In the contract it states that whenever my client opens their doors and pays first month's rent I will see my paycheck.  I called and checked in with the landlord and  development is still underway. My client has been busy so I might drive by the suite and see if I can catch them to make it easier on them.  \n\nIf only this were a throw away account. Trust me, I have so much more to say on the topic and know how atypical this is.", "replies": [{"id": "i6j7p43", "text": "If you are representing the TT, how you get paid by the LL should be irrelevant so long as it is market norms.\n\nNot sure if you tried to negotiate with LL at the outset, but any leasing assignments you undertake, unless the commission structure you described is the norm for your area, you should try to seek 50% upon lease execution and 50% upon TT payment of first month's rent (or occupancy).", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "i6eq63s", "text": "Brokerage is really feast or famine, and the opportunity to make the most is generally where you have no safety net.\n\nThat said, there are brokerage houses that have a salary, or draw, that provides for you a consistent paycheck, and lets you build up your book.", "replies": [], "depth": 1}, {"id": "i6et9a5", "text": "Like others have mentioned look at companies like CBRE, JLL, etc. They often will set you up with a draw when you are starting out. I'm in year 5 of my CRE career and I'm still struggling quite a bit. Money does not come in regularly, and deals will fall aprt at no fault of your own. It's a grind.", "replies": [{"id": "i6hvepl", "text": "What frustrates me the most is I was in a very lucrative position already, but wanted to become an independent contractor. I kind of had to choose between the two and now I have goose eggs. I nearly lost my head over this whole thing lol I did have a nest egg, but it only lasted so long before I really started to struggle.  I'd never been so low. Questioning if I made the right decision to switch careers. I wanted a challenge...and I got one!", "replies": [{"id": "i6nvuu6", "text": "Are you able to work on a team with a more senior broker? If so, might help to get you some income while you work on making more of a name for yourself. I work under a senior broker and get pieces of deals here and there that I assist with. Additionally, you can learn a ton from a senior broker and make more connections.", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "i6ethrl", "text": "I suggest that you team up with a successful agent to basically do almost anything they need. If the agent is worth his/her salt, they\u2019ll start pulling you in on some deals or shifting you clients that they don\u2019t want.", "replies": [{"id": "i6hwhv1", "text": "Yes, I agree. My next step is to take this time to find out who needs assistance and make sure there's a brokerage out there that better suits me. Someone mentioned brokerage houses that offer a salary? I'll look into that some more.  I had to leave my brokerage a couple of days ago.", "replies": [{"id": "i6ir5fi", "text": "Get a job as somebody\u2019s assistant. That\u2019s the best way for you to go at this point. Good Luck.", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "i6ex2v7", "text": "Sounds like you are introvert . Real estate agents need to be socializing and meeting people all the times.", "replies": [{"id": "i6hvre3", "text": "I know how to do this.  I was in a car accident and both my wrists broke. So I've been on the mend and lost a lot of connections as I couldn't drive or go any where for months.  I actually miss being around ppl and getting to connect.  I'm finally doing some of that now.", "replies": [{"id": "i6hzolk", "text": "All the best to your real estate career \ud83d\udc4d", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "i6f4zqe", "text": "What do you like about what you do?  Other than the crazy length of time between deals and before getting paid - is there anything you don\u2019t like?", "replies": [], "depth": 1}, {"id": "i6f9j03", "text": "As others have suggested, you should have been paid by now unless your agency agreement with your broker stipulates otherwise.\n\nI am both a residential and commercial broker but I have the incredibly good fortune of starting off by running my family's real estate investment portfolio and transacting those deals. As such I started off and continue to be a part time agent for non-family buyers/sellers which helped ensure that I had stable income from W2 and \"bonuses\" from commissions whenever they happen (hence no pressure to close deals).\n\nFamily deals aside, because I chose to grow the business organically through my sphere of influence, I've been able to not waste a dime or a minute on chasing cold leads, marketing, or advertising. \n\nWhen I first got my agent license, I focused on residential as almost everyone knows someone looking to buy or sell. When I started off, I threw a few bucks at online marketing/craigslist and ultimately never closed a single deal from those efforts. As soon as I stopped advertising and started telling my friends/family that I was in the business, I started closing deals.\n\nWhy? Because the strength of your relationship with your client and how credible your client finds you is directly correlated to your probability of successfully closing that client. If your lead comes from the cold market, is that lead more likely to give you the business or their friend/aunt/uncle that's licensed that they've known their entire life?\n\nUnless you happen to be blessed with a network of high net-worth property owners, investors, or business owners, you will not hit the ground running and you will IMHO be taken advantage of by large commercial brokers. New commercial agents are basically indentured servants. Consider adopting a realistic plan on growing your business, starting with the basics, and working your way up to larger and larger deals (both residential and commercial). Not saying my path to where I'm at is for everyone but it has certainly worked for me and has been a highly efficient strategy.\n\nWishing you all the best.", "replies": [{"id": "i6i15qi", "text": "You hit the nail on the head. That is awesome that you had a fortunate start. I would ask my teammates questions and communicate with my broker, but over all I felt overwhelmed in the small, young brokerage that was infantile and developing. I thought because it was smaller it would be more intimate and I would have someone I could shadow. \n\nJokes on me. I didn't know what I was doing! I guess...", "replies": [], "depth": 2}], "depth": 1}, {"id": "i6fwhw1", "text": "Ask your broker why it\u2019s taken 3 months to pay you", "replies": [], "depth": 1}, {"id": "i6gi034", "text": "The strongest suggestions I would offer would be:\n\n1.  Hitch your wagon to the most successful person there who will take you on.   Expect to earn nothing off of their work and be prepared to give away a ton of money off your work.   Your job is to tee up new business and watch the pro close it.  Learn what makes them successful and replicate what is authentic to you.  \n2. Cold call.   Define your market and call everyone.  If a new listing comes out in your market, knock on doors with it, call the neighbors with it, and work outwards from there.  \n3. Work harder than your competition.   A lot of older brokers get a bit lazy and let things slip.  Be there to catch it.  \n4. Cold call.   \n5. Cold call some more.", "replies": [], "depth": 1}, {"id": "i77qepf", "text": "Market is too hot for new blood, since Old blood is the one making majority of the money. You either Pay for a mentor, or go for residential. Unfortunately, I think you should just get a 9-5 Job and do RE on the side. Way too many new agent last year and this year popping up due to the \"Get rich sell real estate dream.\"", "replies": [], "depth": 1}, {"id": "i874n1g", "text": "Use sales navigator on LinkedIn. I'm also a new CRE agent, 3 months in, haven't made a deal yet. But my lead generation is off the charts thanks to sales nav. Its the conversion process that i have an issue with. I would also suggest maybe inviting the top producer in your company to lunch and ask them how they overcame the troubles you are having. Having a good mentor in the beginning is making all the difference for me.\n\nYou can also get creative and look in places no one is looking for. I go through tradedVC posts on instagram once a week and try to connect with companies that recently had a successful round of funding.\n\n&amp;#x200B;\n\nEdit: The tradedVC strategy almost landed me my first CRE sale (i do leasing though) but I found a company that just finished a huge round of funding intended to be used to buy property of a certain asset class. Connected with the CEO on linkedIn and now have the opportunity to send them any deals I come across.", "replies": [], "depth": 1}]