Question about career path
Ok so this may not be an appropriate place for this, but I've recently gotten an interview with CRBE as a sales trainee (currently in pharma/medical sales). And I'm wondering what kind of career path to expect with becoming a broker/sales person in the commercial real estate business. Or even what to expect during the interview/what I should bone up on. I feel a bit outside my element and I'm completely surprised I even got the interview as I normally associate this kinda of industry with finance people. 
 
Thanks in advance! 
[{"id": "d47o71k", "text": "Do you know what kind of CRE transactions you will be involved with (leases, sales, property types, etc)?\n\nMy advice would be not to try and BS your industry knowledge, and focus on your ability to be a professional, hardworking salesperson. I would imagine that the position would entail a lot of cold calls, networking, meeting with business owners and executive decision makers - so hard work, confidence, and professionalism are extremely important.", "replies": [{"id": "d47p5yh", "text": "Honestly couldn't say exactly what I would be doing. I've been a sales professional for a few years now and I feel confident in my ability to generate leads/close. \n\nDo you know what compensation looks like for mid to senior level brokers/salespeople? And do people stay in the industry for a long time? ", "replies": [{"id": "d47pnkz", "text": "Typically, real estate salespeople of all experience levels receive no salary, and are 100% commission based.\n\nThis has been changing, however, as large brokerage firms are getting top heavy (agewise) and finding it difficult to bring on young people who are looking for some sort of compensation security. I know CBRE offers \"Sales Assistant\" positions, which might be what you are interviewing for, and I would expect the compensation for that to be anywhere from 35-45k base.\n\nYes, people stay in the industry for a long time as the earning potentials are huge, and being your own boss is awesome.\n\nKeep in mind, even though CRE brokers are salespeople, a large part of their job is taking a transaction from start to finish. Getting a client is hard enough, then you actually have to close the transaction. Real Estate transactions can take 3 months to 2 years, so be prepared for long periods of no income.\n\nMy advice:\n\nAsk them if you will be working with a team, and make sure that team is a successful one with a good pipeline. Ask if you will receive any company inbound business referrals. You do not want to jump into brokerage with no clients, no experience, and no team (unless you have a large nest egg to support yourself for a couple of years).\n", "replies": [{"id": "d47qt7m", "text": "Literally just finished the interview, sounds like base is 35k and then they move you into 100% commission after you get your feet on the ground and steady. \n\nSounds like a bit of a short term loss for long term gain type situation. But, I'm sure commissions on commercial property's are fantastic. I have a lot to think about lol. ", "replies": [{"id": "d47qzvr", "text": "As I said get a general feel for the team you will be working with (if placed with a team), having senior professionals guide and mentor you is crucial.", "replies": [{"id": "d48pyli", "text": "This is very important.", "replies": [], "depth": 6}], "depth": 5}, {"id": "d48py29", "text": "Keep this in mind: It's easy to think that a big building getting sold will mean a big commission check for you, but that is not always the case. In the more institutional deals companies like CB are working on, the commission rates are very competitive, so to win business, they typically aren't getting a very large percentage of the sale price to start with even if the sale number is big. Then if you are working for a team, the senior brokers will get the lion's share of whatever commission is earned. You will get a rather small percentage after the rest is divided up among the team. Then you have a split with the house, so you may be paying half of that commission to CBRE to cover marketing, office, admin, etc. Then you have to pay income tax and self employment tax since you will be 1099'd and your employer is not contributing.\n\nJust go in with your eyes open. These roles have very high turnover. Those who can tough it out making no money for years and working very hard can make a lot of money, but many will have to find a different job a few years down the road because the income isn't there.\n\nIf you are self-motivated (really) and have enough cash to scrape by for 2-3 years on minimal/unpredictible income and you don't have a family or other major obligations yet, I'd say give it a shot!", "replies": [{"id": "d4a6c6b", "text": "I'm currently having difficulties with taking this role. I do about 45K + commissions right now and if I take this role it would be 35K for the first year and then 100% commissions after that. This is a pretty significant drop in my salary / take home income. I can cut back but... I don't know if it's the right move for me. But I do feel it could potentially be huge gain down the line. Still have some thinking to do, thank you for all of your help! ", "replies": [], "depth": 6}], "depth": 5}], "depth": 4}], "depth": 3}, {"id": "d47q3ps", "text": "They didn't give you a job description? CBRE is a big firm, and pretty structured in their roles. \n\nCompensation will be totally commission based, but depending on what you are doing, you may be generating a long-term income stream. Leasing guys get their percentage for the term of the lease usually, so if you have a good relationship with a national brand or a developer with a lot of quality new or expiring-lease locations, you can be set up for a long, long time. If you are good, you'll be wealthy.\n\nAlso, just wanted to point out that you had their name spelled wrong in the initial post. I would think that misstating their initials would be a pretty quick route to the door.\n", "replies": [{"id": "d47r3ze", "text": "They just gave me all the info, it's basically a entry level position that's salaried at 35/year. I'd basically be going around to different locations, taking photos and setting up promo materials for the other brokers, as well as learning the intricacies of the business.  Then after that first year they move you to 100% commission. It definitely sounds interesting and challenging. \n\nAh thanks for pointing that out twas a typo, and if I don't get the position because of this reddit post, well I guess I just don't deserve the job :P ", "replies": [], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "d49vsf3", "text": "How did you get the interview? What was the job posting online? Did you cold call? This sounds like a great opportunity, good luck! ", "replies": [{"id": "d4a62ml", "text": "I applied online and then \"cold messaged\" the HR manager on linked in giving a mini cover letter basically. I've found that strategy to be particularly effective when getting to the initial interview stages. ", "replies": [{"id": "d4a6f2m", "text": "What did you apply for online? ", "replies": [{"id": "d4a750g", "text": "Sales trainee I believe the position was called? ", "replies": [], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}]