Looking into opening my own brokerage, what are some of the biggest hurdles?

I'm in a bit of a weird spot career wise. I started working in CRE while in college, I graduated 2 years ago and got my brokers license last year. To explain things better I'll give some background. My grandfather started his own brokerage back in the 1970s. He turned into a developer and was locally well known until he exited the brokerage world sometime in the 1990s. I grew up around the property management side. CRE was not my fathers choice career, he was kind of forced into. He's grown to hate it now but cant retire as all the business is owned by my grandmother. He basically handed me all the leasing responsibility as soon as I got my real estate license. (My grandfather died when I started college, so I got my license to help out.)

We currently manage 9 commercial strip centers of about 98 units. Everyone assumes that I get paid well and have a cushy job, but thats not the case. I made $40k last year including commissions. I'm not inheriting any property anytime soon. I get a 3% raise every year. I usually get 1-3 commissions a year which are all small retail. However, this year I've made none. I've been working over the past year on a 10 year lease with a national bank for an out parcel. This was a bit of learning curve. Especially when it comes to negotiating TI for a deal like that. My father never did a deal that big as it was always my grandfather. And that property was never vacant.

I realized in the spring that I should consider working part time for another brokerage. I reached out to a few local boutique brokerages. I met with one that was willing to take me on while letting me still handle my family's listings completely separate. They were the only brokerage that didn't expect me to bring the listings with me. I told them I wanted to join but needed some time to talk with my family (who was not going to take it well) and just get towards the end of this bank deal. (It's been very project management heavy at this point meeting with contractors and such, it's an old building with asbestos). They told me there was no rush and take as much time as I needed. Well that was 3 months ago and they brought on 2 new agents. They don't have the space for me anymore. But they want me to stay in touch for when they do.

I've had a few opportunities to act as tenant rep and landlord rep broker over the past few years. I always passed on it as my family's business is antiquated and is not set up for this. My family name still has some local recognition so I've been considering opening my own brokerage. Just something to work under so I can work on outside landlord rep and occasional tenant rep. A friend of mine just expressed interest in having me list a property they're developing.

Growing up around the business, I have a good understanding of the accounting side. My biggest concerns are more around the paperwork side of brokerage with things like landlord rep agreements and processes around that. What other hurdles might I run into with this?

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u/colombian_snow — 10 days ago
▲ 1 r/rninet+1 crossposts

RnineT warning light on

I went to look at a 2022 rninet pure with 1400 miles on it. Owner started it up after sitting for three weeks and the warning light is illuminated. Tried illuminating traction control, but to no luck. Local dealer can’t look at it until the end of September. Any ideas what might be going on with it?

I was thinking old battery. It starts fine, voltage drops to 8.9V when starting.

I’m going to try motoscan on it later.

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u/colombian_snow — 2 months ago

Fair value for ‘22 RnineT pure

Looking at buying a ‘22 RnineT pure. 1258 miles on it. It has the Werkes slip on. Seller is asking $8800. Is that a fair price?

I have a ‘74 R60/6 and a ‘17 Triumph Street Scrambler but would sell my Triumph if I buy it.

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u/colombian_snow — 2 months ago

It's an improvement but still half baked

Alright after playing the first play test and the second round, I got some feedback. I've been waiting for another Vietnam game for a while and used HLL to fill that void. I loved Rising Storm 2, I have over 300 hours on it. And I don't want to see this flop. So here's some feedback.

Performance: Big improvement here from the initial play test. It's actually playable now but it does have some hiccups. During a match I found a 20 fps difference between using the Ak and K50. (Same map, locations, and role) Had some UI issues with markers flickering but nothing that made it unplayable.

Game mechanics: This still needs a lot of work. It plays like a more fast paced FPS then what I would expect coming from HLL. The movement speed and gun mechanics feel wrong for the game. It just feels like I'm playing a modern fps then a HLL game. The sound effects also need a lot of work. The guns sound awful.

That's just my feedback for now. I need to put some more time into the game tomorrow.

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u/colombian_snow — 3 months ago

Brokerage commission splits for a PM leaving a family business with limited experience

Hello, I’ve been doing property management for the past four or so years. Primarily small strip centers that my family owns. I grew around the business and started working in the office in high school, but didn’t officially get my real estate license until four years ago. I worked while I was in college, primarily doing all the leasing. I’m 24.

I’ve decided it’s time for me to move on as there is no room left to grow. My family isn’t interested in expanding. And I don’t make much money. ($40k last year before taxes)

I’ve been applying for jobs with other brokerages and including other roles. such as analyst positions. I haven’t had much luck. I ended up shooting an email to a brokerage that I had worked with previously on a deal. 3 interviews later, I was offered to join them. They’re a retail specific brokerage with good market presence. I am unfamiliar with brokerage splits so I wanted to ask here. The splits are 50/50 up to $150k, 60/40 up to $250k, and 70/30 past that.

My general impression is that they would be a good fit. I would work under a senior broker for a few months. I would be focusing on Landlord rep as that is what I know best. It was a good sign to me that they don’t expect me to bring my family’s business with me. And I could still help them to some degree completely independently. Just wanted to get others thoughts on this.

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u/colombian_snow — 4 months ago

1854 Austrian Lorenz type II rifle I got on facebook marketplace

Old widow was selling it since she was selling her house. Her husband bought it for $300 in the 90’s.

u/colombian_snow — 4 months ago
▲ 8 r/8mm

Working on reviving my Grandpa’s Eumig Servomatic

One of the leads coming from the battery compartment was corroded. Got it replaced and seems to function now. Just need to repair the battery pack.

u/colombian_snow — 4 months ago

Experimenting with different coffee

I’ve decided to embark on a mission of searching for the best coffee to use for tiramisu. I have found using real espresso really does improve the flavor.

I had to 2 ideas for a different twist on typical tiramisu I’d like to try.

Vietnamese coffee tiramisu and Cuban Coffee Tiramisu.

Has anyone tried this?

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u/colombian_snow — 4 months ago