This past week, we finalized our annual National CRE Brokerage Survey. We will be presenting our findings on Tuesday, February 2nd at noon eastern, during “The State of CRE Brokerage” webinar.
522 commercial real estate professionals completed the survey.
- Of these, 20% are newer to the business (less than 2 years), 40% are mid-careers (3-15 years) and 40% are seasoned veterans (greater than 15 years).
- Geographically, 44% are located in primary markets, 38% in secondary markets and 18% in tertiary markets.
- From structure perspective, 46% are associated with national organizations and 54% are associated with independent or boutique firms.
- We analyzed this last variable even further and looked at the Top 5 National firms, as well as the second tier and third tier national firms.
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As you can see, this survey convened a solid mix of CRE brokerage professionals.
We will provide a much more thorough analysis during our free webinar on Feb. 2nd. For now, here are 5 macro items you may find interesting:
1) Commission Splits – Of the 8 reasons provided, Commission Splits was the top-rated reason for affiliating with a specific organization in 3 of the 4 structures analyzed. However, this was not by a wide margin. Other factors where key drivers to affiliating with a firm as well.
2) Geography and Income – The Southwest region had more responses for who made less than $100,000 gross commission income in 2015. Those making more than $750,000 were located in the Northwest region, just edging out the Northeast.
3) Brokerage Satisfaction – When asked how likely they are to recommend their firm to a friend or colleague, the highest rated firm was not in the “Top 5”. Who was it? It was a 2nd tier national firm, and by a wide margin.
4) Market Expectations – When asked to forecast the 2016 market, those new to the business agreed with their seasoned veteran respondents. They felt the market would be the same as 2015, if not worse. Their mid-career peers are more optimistic.
5) Pipeline – Only 10% of all respondents felt their pipeline was full with high-quality opportunities. Whereas, 16% of the seasoned veterans described their pipeline as such. Leveraging their experience, we would expect this higher rating.
These are just a few of the myriad of data points which will be shared during our free webinar, “The State of Commercial Real Estate Brokerage” on February 2nd at 12 PM Eastern.
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This will be your opportunity to look up and take notice of the shifting changes in our industry and refine your plan to make 2016 your best CRE year yet.