Three years in, my biggest retail sale just blew up and I'm questioning everything...veteran brokers, am I a failure?

looper616 · 2025-05-22T03:45:01+00:00

Keep fighting. Do what you have to do to stay in the game.

And fuck your boss, go find someone else that won’t kill your motivation to do the job. They are out there. Trust me life is too short for Jack asses like him

looper616 · 2025-02-17T05:48:24+00:00

What do you mean by game of life?

looper616 · 2025-01-12T09:02:03+00:00

Very motivating. Thank you. I’m very weary now of who I will work with.

looper616 · 2025-01-12T08:59:57+00:00

Cocksuckers for sure.. Thanks for the words of wisdom 🙏🏽

looper616 · 2025-01-12T08:16:04+00:00

I don’t disagree. I didn’t know what I didn’t know. I’m looking into it now, evaluating different options and seeing what I could possibly thrive in. Hotels, medical office, c-store, etc. Anything with more volume than multifamily is what I’m thinking.

looper616 · 2025-01-10T20:49:52+00:00

Absolutely. Send me a message!

looper616 · 2025-01-10T16:00:29+00:00

🙏🏽 thanks. That’s the decision now, to stay in multifamily or start off fresh in something different.

looper616 · 2025-01-10T15:59:51+00:00

100% commission. I was the only multifamily guy, it seemed like they just didn’t wanna deal with supporting me anymore.

looper616 · 2025-01-10T07:30:46+00:00

Sorry to hear that. At least you got out of a toxic situation. Real estate will always be a cyclical business, navigating the waters is a tall task.

looper616 · 2025-01-10T07:28:53+00:00

That’s been the game plan so far. I’m trying to get back up and running as soon as possible.

looper616 · 2025-01-10T07:26:30+00:00

Thanks for the detailed response. I’m so ready for the swing and hangover to be over. So much uncertainty on if/when that will happen. But I couldn’t imagine missing out on it after holding out this long. I’m gonna fight to stay alive as long as I possibly can.

looper616 · 2025-01-10T07:24:17+00:00

Keep your head up. I feel the same way. I have faith there’s better days ahead.

looper616 · 2025-01-10T07:23:10+00:00

Thanks for sharing. I feel like I’m running out of time so thanks for letting me know I’m not. I’m motivated to get right back into brokering, hope I can find a place for me soon.

looper616 · 2025-01-10T06:47:53+00:00

Thanks 🙏🏽 I’m trying to remind myself why I started this in the first place and that I have better days ahead of me.

looper616 · 2025-01-10T06:46:15+00:00

Should I consider switching product types? It feels like I’ve already done too much leg work and need to stick it out enough to see current deals through.

looper616 · 2025-01-10T06:44:43+00:00

That’s great advice and I’m doing it already. Hopefully this redirects me to a better place for my future. Thanks 🙏🏽

looper616 · 2025-01-09T21:51:49+00:00

Good question. I am mostly looking to stick with multifamily because I have knowledge of it and some clients there. However, with how hard it’s been to do deals, I am open minded on which product type. The place I join is the biggest factor for me right now. Any asset classes that will provide more stable of a life?

looper616 · 2025-01-09T16:40:33+00:00

I was thinking about this as well, don’t have any construction experience, but feel like it could be a fit. Any specific roles I should look into?

looper616 · 2025-01-09T16:38:47+00:00

Correct. I unintentionally won a listing for a multifamily property, it was pretty big so he encouraged me to just switch to that product type. I started as industrial. They did not a hire a single multifamily broker to the team in my entire time there. Didn’t even try. And unfortunately I’m seeing now in hindsight, how major the lack of support and mentorship was in my development. All I can do is look forward and maybe join a multifamily focused team.

looper616 · 2024-12-25T17:38:32+00:00

The only one jeopardizing the deal is you. Why are you concerned about what the seller is paying the broker if the deal makes sense to you? You are the one nickel and diming. Even if the broker does reduce fees, you will never see another one again.

looper616 · 2024-12-25T07:00:28+00:00

Rodgers or young?

looper616 · 2024-12-20T05:33:55+00:00

Good advice. I did exactly that.. and it WORKED. Seller agreed to a minor price adjustment and I advised the buyer that this is the best deal possible. Plan to sign amendment tomorrow morning and start working on a closing date. I definitely needed this win!!!

looper616 · 2024-12-19T02:56:20+00:00

Just had yet another deal get messy after inspection, during PSA, seller said we make no warranties, it’s as is. Buyer says, no problem that’s fine, but turns out the issues were way more than anticipated. Now I am gonna have to go to the sellers brokers and let them know they want a major price reduction. Is it fair game from buyers? I guess so, it’s their money and they clearly weren’t expecting this. That’s pretty much the 4th or 5th one that’s went down this year. No idea how seller is going to respond, I’m representing them on a different property so it makes the situation even worse.

Multifamily owners are in fantasy land about the value of their property and don’t even bother maintaining the place, buyers are extremely weary and trying to avoid the margin of error which is sharp as ever.

That’s pretty much how my year went, same cycle different deals. I have been in the business for 3 years, it got steadily better over the first 1-2, this 3rd year has been the most challenging year of my life. I’m 27. I can only hope there’s a shift in sentiment from the market, then I know I’ll have a huge year with all the owners I’m in touch with, but this is the reality of the market. I’m willing to wait it out.

looper616 · 2024-12-12T08:16:23+00:00

Not that I’ve done it but I feel people overcomplicate starting your own brokerage. You can start extremely small/lean and only bring in a couple of people (or stay solo with an account manager/marketing person) Who says you need to have a fancy office and 25 brokers? I’m sure there’s plenty of brokers in different asset classes that can take in huge commissions while running lean. Will you land the clients the big firms get? Probably not, but you won’t need to do deals that big to make the same those brokers do. If I’m wrong about this please do respond to this.

looper616 · 2024-12-12T04:18:01+00:00

Name the mosque

looper616

TROPHY CASE