Titles at Commercial Real Estate Brokerages
Have you ever given any thought to the relevance of individual titles at commercial real estate brokerage companies? There are numerous different titles that companies bestow on their agents. I have always wondered what they mean and why they actually exist being that brokerage companies are just about the most horizontally intergrated businesses of which I can think. Actually, I know the answers to these questions. They don’t mean anything and they exist to make the individual bestowed with said title appear more important to the outside world than he or she actually is. The following is a list of several brokerage titles you may encounter and what they actually mean in the grand pecking order:
GIVEN TITLE = ACTUAL MEANING/ROLE
CEO = Broker
President = Broker
Senior Managing Director = Agent
Managing Director = Agent
Senior Vice President = Agent
Vice President = Agent
Junior Vice President = Agent
Senior Associate = Agent
Associate = Agent
Junior Associate = Runner/Support Staff
These titles have always cracked me up. Oh, you got promoted to Senior Managing Director but your pay is exactly the same (100% commission) and your responsibilities are exactly the same (brokerage)? How interesting. Congratulations, I guess.
what pisses me off most is that everyone is a VP. wtf is the difference between senior, executive, first??? whats even better is when they change the title but dont even bother to raise the commission split. *eyes towards M&M*
There are production thresholds at my company, so usually a SVP makes a ton while an associate will make nothing.
When there are a lot of SVP's and no associates, that means that we cut costs again an laid everyone off who was not a producer.
And then when everyone is a SVP, ego's get in the way which leads to Executive Vice President, which means I make more than a SVP.
There is a whole separate caste system for support staff. Marketing Coordinator is usually an over paid admin who works with a single broker.
[...] CRE brokerage company from Vice President to Senior Vice President. I have already posted my thoughts on titles at CRE brokerages. Needless to say, I think they are [...]