Getting into investment sales in today’s market
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[{"id": "fy5wo2w", "text": "Best way to find a job is when you already have one. Market could do anything in the next few months, if you sign up now you can start getting experience, cultivating relationships and demonstrating your worth now. Read r/personalfinance, take a hard look at expenses and go in to the role eyes wide open that when you live on commission you have to save for a rainy day or live with the consequences. Last thing, I would be surprised if they dont offer you some sort of nominal draw or revenue sharing arrangement to start. Good luck.", "replies": [], "depth": 1}, {"id": "fy64fc9", "text": "Depends on who you are working with. If it is a good team with a strong company, then think of this as paying your dues. \n\nIf this is a boiler room situation and you are going through the CRM system and there are like 50 different accounts in it, run. \n\nThe best broker I met told me in 2007, you make your money in an up market, but you build your wealth, your connections, in a down market. \n\nSo many people are not going to survive this. Hell, I am not even sure if MF is worth owning anymore, since legally, I cannot evict or enforce rent collection. I don't know if people are going to be moving into the suburbs, out of high cost of living areas, or what. \n\nI do know that there is a ton of money chasing any hard asset right now. I also know that a 3 cap rate is looking OK when treasuries are at zero percent. \n\nAnd what else are you going to do? Go back to school? Enjoy your zoom calls. \n\nThings are shitty, way shittier than in 2007 when everyone thought the world was ending. But the connections you make now, if those people stick it out, you are set. \n\nPeople are going to leave this business, no question. And it is tough, most sales people barely make any money. And it is a pyramid scheme built on abusing young brokers, and it will probably take you 5 years to start to make any real money, so I hope you are living rent free at home. \n\nSo, this is a start. Do you have the personality to see it through?", "replies": [], "depth": 1}, {"id": "fy67pof", "text": "Negotiate a discount desk fee. You want to have min overhead as Coldwell Banker for example has a 2K insurance to be paid in front whether you do 0 or have 1000 sales. It is the same, lock box, subscription on keys, mls etc is a couple $2+K on top. Most charge a desk fee so $250-350 a month.  You also want them to give you guaranteed leads. Most say they will train you and they all promise more than they do.  If you are left alone they took your money and you will unlikely to get a sale the first few 6 ? months.  In our area, SFBA, investors started freaking out as tenants have 6 months not to pay rent from Covid hardship. It has been negative cash flow unless someone pays 75% down.  A lot paid realtors are getting laid off. They can stay but they need to pay all those expenses. Several big name brokers are taking 50-70% cut in salary, One CEO took $1 to hang on to his CEO title.   May be in your area it is more investor friendly.", "replies": [], "depth": 1}, {"id": "fy6kavf", "text": "I would not do that and instead try joining a JLL, CBRE, C&amp;W, Colliers, NKGF as a capital markets analyst/associate for a year or two and then go into brokerage at the same place with the already established connections and modeling acumen", "replies": [], "depth": 1}, {"id": "fy9mijc", "text": "Hey man, I just made the jump. Actually went from a $94K base salary + commission job to a 100% commission gig in investment sales. I believe in the product and will bet on myself to be successful in the business. If you feel the same take the leap of faith. Be well.", "replies": [{"id": "fybcbk1", "text": "What industry did you switch from? I am biased, but investment sales is the best gig on earth. I am excited for you. Best of luck!", "replies": [{"id": "g3sjsqr", "text": "I was originally a mechanical engineer&gt;Sales Engineer&gt;Investment sales. Big difference from what I started with. It's tough as hell man, all day calls to try and get business, but I've gotten some pretty leads.", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "fybc5ct", "text": "The reality is that it's going to take 6-9 months to get any traction at all. Once you get your first listing, it will take another few months to close (if it closes). In my opinion, it is actually a great time to enter the market. There is a big learning curve to becoming a great broker, and it is prime time to learn when the market is soft. Once everything heats up, you will be ready to jump. Best of luck, stay hungry, work hard, and be well.", "replies": [], "depth": 1}]