New Agent who wants to break into commercial real estate, want to know where to start 😅
Hey y’all! My name is Vladimir, I just got licensed last week but I’ve been doing real estate for a year now in California. I really want to break into the commercial RE world. What are some tips anyone recommends? I’m in CA so I’m willing to be an intern or be part of someone’s team to start off and learn :) much love ! Have a great day everyone 🙏🏽
[{"id": "ishn3xz", "text": "Get ready to work your ass off for nothing for a couple years.", "replies": [{"id": "ishn8d5", "text": "You\u2019re not the only one who\u2019s mentioned this \ud83d\ude05\ud83d\ude05", "replies": [{"id": "ishnega", "text": "Hope you\u2019re listening. Good luck. It\u2019s worth the grind.", "replies": [{"id": "ishnkzb", "text": "Oh one more question! How would I prospect clients like this?", "replies": [{"id": "itf9mk7", "text": "I\u2019ve had pretty good results with cold emailing and cold calling. I usually reach out to 30-40 prospects per day. Sometimes more. I got my first deal via cold email and I found the buyer for the deal via cold call.", "replies": [], "depth": 5}], "depth": 4}], "depth": 3}], "depth": 2}, {"id": "itf967c", "text": "Yep. My principal broker spent his first three years at Marcus and never closed one deal. He was told he sucked at cold calls. That was seven years ago. Now he constantly takes home 7 figures per year. Gotta be able to stick with it.\n\nI\u2019ve been extremely fortunate...I\u2019m one year into investment sales. I closed my first deal last month, which was nearly $26M. I\u2019m on track to close my second deal next month. My first year all-in comp looks like it\u2019s gonna shake out at $180K-$200K. Beyond anything I could\u2019ve imagined last year at this time. I started with the expectation of not closing anything for at least the first 12 months.", "replies": [], "depth": 2}], "depth": 1}, {"id": "ishyle4", "text": "Where in ca? Are you liscensed?", "replies": [{"id": "isi2bdt", "text": "Yes I am, based off in LA", "replies": [], "depth": 2}], "depth": 1}, {"id": "ishzrzw", "text": "One path:\n\n\\- Go to networking events from local ULIs, CCIM, ICSC, CoreNet, NAIOP (contingent on asset class interest). Meet as many people as you can, some of these people could be people you are feeding deals to later or working alongside with. \"You're always interviewing\" - Do some targeted networking by looking up who would be at what event and see if you can get an audience with them and have something to talk to them about (don't be creepy about it - I had someone stalk my socials and brought something up during this chat). \n\n\\- Once you have that figured out, find someone willing to mentor you. Easiest way to get someone's attention is to be able to bring them something of value (a deal, client, ability to run Argus/DCFs if you're going that route etc.). Theory of mind and putting yourself in their shoes, what do you bring to the table that would help them and sets you apart? \n\n\\- Find a team or broker that has space for you and work your way up. (Have x/y amounts of months of reserves because the first deal may take a bit and will 9/10 be split between the brokerage house, your senior/team, and then you). \n\n\\*Additionally for later on\\* M&amp;M's Training, Massimo Group, Nucleus (Alicia Shep. via SoCal), etc. some of those are solid ways to learn \"how 2 broker/stay consistent\".", "replies": [{"id": "isi2iul", "text": "You are the best! That was some great tips and info! Thank you a ton! Will implement all of these \ud83d\ude4f\ud83c\udffd", "replies": [], "depth": 2}], "depth": 1}, {"id": "isjy4h9", "text": "Start on a team. Don't worry about property type or product as much as who your mentor/team will be.", "replies": [{"id": "islvxie", "text": "Without a doubt this is the way to go. I\u2019ve been an investment sales broker for a decade and have worked for both the premier small private company as well as publicly traded . You need to build a strong foundation, focus on that. You will not likely be earning much in your first year or two so focus on the best learning experience. A team who handles a lot of volume and will put you on their deals in support roles. \u201cThis is the way\u201d. Best of luck!", "replies": [], "depth": 2}], "depth": 1}, {"id": "ismb70x", "text": "Educate yourself to get knowledge. It taken ten years for the light switch to turn on that you're comfortable with commercial real estate sales and leasing. I've had 12 mentors. Six on the brokerage side. Six on the valuation side. \n\nEverything has been commercial property for me. Real estate finance, business major. California licensed certified general commercial and industrial real estate appraiser. For brokerage I have worked for the world largest corporate commercial real estate services firm as a retail marketing specialist broker in Southern California.", "replies": [], "depth": 1}, {"id": "itf8jnn", "text": "Network with investment sales brokers. Build a rapport with them. Make an effort to maintain communication with them. \n\nIf you demonstrate persistence, the ability to maintain a business relationship, and you\u2019re good at following up, you\u2019re gonna increase your chances at getting hired at an investment sales brokerage. Because those are the exact characteristics that are required to originate and close transactions.", "replies": [], "depth": 1}, {"id": "iu2frnl", "text": "Go to USC, Join Marcus &amp; Millichap :)... \"sort of\" joking after I read you were in LA.  I'm a top multifamily broker in Salt Lake City, started in 2004 and have PTSD from 2009... there will be opportunities to add value and solve problems in the next few weeks/months... so not a great time to make money, but an incredible time to build out your network and presence in the market.  Let me know if I can help.  Values will be down, but opportunity exists in development, redevelopment (go find hotels we can convert to apartments), office conversions to apartments, and if the economy does turn people will have to sell... go position yourself w/ high octane loan deals and developers who won't have enough equity to refinance and jump in!  #CRE is the best business, and you have a cool name... that's like half the battle.", "replies": [], "depth": 1}, {"id": "ivic7f0", "text": "This is a great video that goes in deep into real estate and covers all aspects of a deal  \n\n\nhttps://www.youtube.com/watch?v=QA9CZQSVbrA&amp;ab\\_channel=TechRealEstate", "replies": [], "depth": 1}]