Recently I came across two short articles I am sure every commercial real estate broker would want to read about brokerage earnings.
According to the first report, published on June 18, 2015, individual commercial brokers’ earnings increased over 33% in 2014 from the year prior. What was the average annual gross income for those surveyed? Click here for SCT article on broker earnings to find out.
The second article, from the Commercial Real Estate Executive, ranked the top 24 commercial real estate brokerage firms. These rankings were established prior to the Cushman & Wakefield’s acquisition of Massey Knakal or their own pending acquisition by DTZ. The number of brokers, transactions, and sales volume is provided as well. Click here for the full article on Brokerage Rankings.
What this means to you…
These two articles should provide you the incentive to focus on your personal or company performance. If your earnings are not growing as quickly as the industry average, ask yourself why. And then make a plan to do something about it. If your company is not ranked in the top 24, again, ask yourself why. Don’t make the mistake of assuming this only includes “the big boy”. For example, Hanley Investment Group is ranked #21 nationally (for the record, a client of the Massimo Group). Yet, according to this article, only has 8 brokers.
What do these two articles tell me?
This is an excellent time to grow your commercial real estate practice, either individually or organizationally.
Image Courtesy of “Earn Computer Key Showing Working And Earning” by Stuart Miles FreeDigitalPhotos.net