The Brokerage Breakdown: What You’re Really Signing Up For

A brokerage is a brokerage…or is it?

There are more CRE shops out there than vacant ground-floor retail spaces at new five-over-one apartment buildings.

From big-name nationals with corporate polish to boutique firms run like pirate ships (in a good way), the options are endless.

But what really makes one better than another?
Is it the name on the door? The CRM? The splits?
Or is it all just different shades of the same cold call grind?

That’s what we’re diving into.

So strap in, buttercup…we’re talking brokerages today.

The Brand Name Trap

You might think joining a big national firm gives you instant credibility.

Sometimes it does — until you realize:

• You’re still cold calling the same building owners and tenants

• That “national platform” only benefits you once you’ve paid your dues for years on the team

• Every listing agreement gets buried under 17 layers of corporate approval before it can go live

Big brand ≠ big support.

Younger entrants into the CRE world are often sold on:

And sometimes that’s true. But more often than not?

You’ll be grinding on someone else’s prospect list, chasing leads they didn’t want to follow up on, and cranking out BOVs until your soul starts slipping out of your body.

Meanwhile, you’re quietly praying your 60-something senior finally decides to sail off into the sunset, so you can inherit the kingdom.

Here’s the reality: If you’re waiting for someone in brokerage to retire, you’ll be waiting forever.

This is an industry where many brokers sling deals until the good Lord calls them home. And while that’s admirable, it’s also frustrating for junior agents. Because even as they start to lose bandwidth, many senior brokers cling to every client they’ve ever had, even the ones they’ve long since stopped serving well.

When a client’s company or family leadership changes, or when attention starts slipping, clients move on. Not because the broker was bad, but because they failed to hand the relationship off to someone who could carry it forward.

So if you’re expecting a clean “handoff” someday, don’t.

The Boutique Brokerage Life

Now, if you’re not dead-set on representing Blackstone or some NY hedge fund, I’m a big believer in boutiques.

Boutiques are where the entrepreneurial spirit lives.

They’re scrappy, nimble, and built by brokers who wanted to plant their own flag, not just collect a paycheck and hide behind a brand name.

These shops usually:

• Give you the tools you need without overcomplicating things

• Let you build your book your way

• Don’t care what asset class or market you’re targeting — they care if you’re hustling

• Stay out of your way when it comes to building your personal brand and online presence

In today’s world, most boutique firms offer the same (or better) tech stacks and support than the big firms, without the red tape.

And here’s the truth:
99.9% of your clients are working with you because of who you are, not the logo on your email signature.

Ok…So What Should I Actually Look For?

The offerings from most brokerages have started to look the same, but here are a few key things to really dig into:

🔢 What’s the split — and how fast can it improve?

Everyone focuses on their starting split.
But the better question is: How hard is it to climb the ladder?

A 65% starting split sounds nice, until you find out it takes $3M in GCI just to get to 67.5%.

Spoiler: Most people never make it past that first hurdle.

Ask for the full comp structure and do the math. If the hurdles feel delusional for your stage in the game, they probably are.

💸 What do you actually get for that split?

High splits are great…unless you’re paying out of pocket for:

• CoStar

• CRM

• Marketing

• Office

• Signage

• Your own f@#king coffee

On the flip side, some firms will sell you on their low split by promising proprietary tools that will

“10x your production.”

Usually, it’s just off-the-shelf software with a fancy wrapper you could replace for $200/month.

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🧠 Is there real mentorship, or just a workload dump?

If you’re newer, make sure you’re aligning with a team that wants to build with you, and not burn through you.

Look for brokers who:

• Actually bring you in on deals

• Share their thought process

• Give you room to grow — not just phones to dial

Watch out for setups where they pocket the deals you find and leave you with a pat on the back and a cold call list.

Final Notes

One last thing:

Try to find a brokerage you can actually see yourself growing with long-term.
You won’t fully know until you’re in it, but take your time upfront. Talk to as many people as possible. Ask real questions — the hard ones. Get past the sales pitch.

Because the last thing you want is to be bouncing firms every 2–3 years.

Every time you jump, you’re not just switching logos — you’re slowing your momentum, confusing your contacts, and writing that awkward blast email:

Yikes.

So take the time. Ask the questions. Be honest with yourself.
And once you choose — lock in and don’t look back.

Because at the end of the day, who you are and how you conduct your business will always matter more than the company name in your email signature.

That’s all for now! I appreciate everyone who’s been part of this community across all the different social media platforms. My goal with this newsletter is to dive deeper into various aspects of the CRE industry, with a focus on the brokerage side. I aim to bring the same levity and reality to these insights as I’ve done with the memes.

If you have any input, feedback, or questions, feel free to reach out. The DMs, emails, and real-life connections have been some of the coolest experiences along this journey.

-CapRateCraig