What no one tells you about a career in CRE

Our work life occupies a significant portion of our waking hours. It’s important to choose a career that will offer both challenge and fulfillment.

I encourage those I meet to talk to as many people currently in our business as possible, including competing brokers and owners. Gaining a diversified perspective will provide greater clarity for those seeking guidance for their future.

Here’s the link to an earlier post which might be of interest to women considering our industry.

Characters you will encounter

Anyone who spends some time in this business will undoubtedly encounter some shrewd characters.

It is a fact that when large sums of money are involved, individual’s integrity can be tested. At some point you will be involved in a deal which will challenge your emotional maturity.

Fortunately that is the “exception rather than the rule.” I have the opportunity to work with many successful business people who possess a high level of integrity.

A career in commercial real estate sales provides the good fortune to develop long term client relationships and friendships with some great people.

View it as investing in a new business

Your broker may offer a draw against future brokerage fees for the initial period of your career. Seldom is the amount adequate to fully cover all regular living expenses.

It’s critical that you have a sober look at your current financial position. Do you have adequate savings to draw from during the initial apprenticing period?

View it as investing in a new business. Ask the brokerage firms you are interviewing with to tell you what their average salesperson’s annual income is. Multiply that number by three and view the career as investing in a business with the sum that you come up with.

Not the right for individuals looking for a 37.5 hour work week

Do not expect to be successful in this business if you intend to work 9 to 5.

After a few years when you are established in your career you can look forward to a more relaxed 40 hour week but in the beginning it is hard work. Once again framing the extra time you will spend as an investment in your own business will help provide the motivation required to build your long term client list and lifelong book of business.

This might help you decide whether you have it in you to be a salesperson.

I feel very fortunate to have chosen this career path which has been both demanding and fulfilling. Take the time necessary to carefully consider your options.

Through ICR’s interview and discernment process, we are able to provide you a reasonably accurate assessment of the likelihood of your success in this business. Like all things in life, where there is greater risk there is also greater reward!

Posted by Barry Stuart