What's The Commission?

About What's The Commission?

What's the Commission is a light-hearted look at commercial real estate, hosted by Nick Terry and Landon Coker: brokers, investors, and business owners. We break down what's happening in our day-to-day, dig into deals and industry trends, and run regular segments like 'the dumbest thing we heard in real estate this week' — equal parts insight and entertainment for anyone in CRE, investing, sales or business.

Publisher

Nick Terry

Category

business

Language

en

Explicit

No

First episode

10 Jul 2026

Latest episode

24 Oct 2026

Latest episodes

11 episodes in the feed.

1. 

   24 Oct 2026

   The Bar is Too Low | What’s the Commission? Episode 11

   What does it actually take to get a commercial real estate deal across the finish line? How hard is it to stand out in commercial real estate when so many people aren't even doing the basics? In Episode 11 of What's the Commission, Nick Terry and Landon Coker break down why the bar feels surprisingly low in certain corners of commercial real estate — from brokers who never return calls to poorly marketed listings, inaccurate deal underwriting, and property issues that could have been fixed with a little effort. They dig into what great brokerage service should actually look like, why proactive prospecting beats the set-it-and-forget-it approach, and how something as simple as good photography, accurate financials, or picking up the phone can make a meaningful difference. They also get into company culture, the value of hiring people who care about quality, and why humility and continuous improvement matter just as much as experience. Plus, they unpack broker compensation, fair commission splits, and why the people doing the work deserve to understand how they're getting paid. Better standards, better relationships, and why doing the basics exceptionally well can put you miles ahead. Key Takeaways: The bar is low, but the opportunity is real. Answering calls, following up, and actively prospecting can set brokers apart when others rely on simply posting a listing and waiting. Good marketing should reflect the value of the property. Quality photography, accurate information, thoughtful presentation, and attention to detail can influence how seriously buyers and tenants consider an opportunity. Know your numbers before bringing a deal to market. Incorrect property taxes, operating expenses, or net operating income calculations can completely change an investment's value and even kill a transaction. Small property issues can create big problems. Poor maintenance, neglected curb appeal, or an easily fixable tenant complaint can hurt leasing activity and retention unnecessarily. Honest feedback is part of good representation. A broker's job isn't just to tell owners what they want to hear, but to identify what could make their properties more competitive. Company culture affects business performance. High standards, integrity, generosity, and accountability aren't just workplace values — they influence how teams operate and how clients experience the business. You don't have to know everything to be valuable. Being willing to admit what you don't know, ask better questions, and continuously improve creates stronger professionals over time. Fair compensation matters. Clear commission structures and transparent team splits help ensure the people sourcing, working, and closing deals are rewarded for their contributions. About Podcast: What’s the Commission is a light-hearted look at commercial real estate, hosted by Nick Terry and Landon Coker — brokers, investors, and business owners. They break down what’s happening in their day-to-day, dig into real deals and industry trends, and run regular segments like “The Dumbest Thing We Heard in Real Estate This Week.” Equal parts insight and entertainment for anyone in commercial real estate, investing, sales, or business.

2. 

   17 Oct 2026

   Reasonable People Still Exist | What’s the Commission? Episode 10

   What does it actually take to get a commercial real estate deal across the finish line? In Episode 10 of What’s the Commission, Nick Terry and Landon Coker unpack a nearly 300-day land transaction involving a Fortune 500 buyer, complicated easements, lengthy approval periods, and the kind of last-minute challenges that can derail a deal just before closing. They break down why reasonable negotiations, clear communication, and the right people on your team can make all the difference — and why contracts should document agreements, not become an excuse to fight over every detail. They also get into the real value of commercial real estate brokers, the importance of protecting professional relationships, and why simply connecting a buyer and seller isn't enough to justify a commission. Plus, they explore Houston's increasingly divided industrial market, where some tenants are expanding rapidly while others struggle with rising rents, lease obligations, and changing business costs. Real deals, reasonable people, and why sometimes the smartest move is simply finding a better way forward. Key Takeaways: Reasonable negotiations get deals done. Contracts should reflect what both parties have agreed to, not create unnecessary conflict over terms that don't materially change the transaction. A deal isn't done until it's done. Even a 300-day transaction can face last-minute complications, making communication, problem-solving, and consistent follow-through essential. The right deal partners make everyone better. Experienced title companies, attorneys, and brokers who bring solutions instead of additional problems can save time and keep transactions moving. Good brokers provide more than introductions. Market knowledge, underwriting, due diligence, negotiations, and active problem-solving are what make professional representation valuable. Trust goes both ways. Brokers need to deliver meaningful work, while clients need to provide the communication, access, and commitment necessary for their advisors to succeed. The industrial market isn't moving in one direction. Some businesses are thriving and expanding, while others are downsizing or struggling to absorb higher occupancy costs. Below-market rent won't last forever. Tenants who have benefited from unusually low rents should prepare for potential increases, particularly when a property changes ownership. Sometimes the smarter move is to take a step back. Whether navigating a difficult deal or making a business decision, understanding the risks and choosing a practical solution can produce a better long-term outcome. About Podcast: What’s the Commission is a light-hearted look at commercial real estate, hosted by Nick Terry and Landon Coker — brokers, investors, and business owners. They break down what’s happening in their day-to-day, dig into real deals and industry trends, and run regular segments like “The Dumbest Thing We Heard in Real Estate This Week.” Equal parts insight and entertainment for anyone in commercial real estate, investing, sales, or business.

3. 

   12 Oct 2026

   On the Road Again | What’s the Commission? Episode 9

   What happens when commercial real estate gets a little more old school? In Episode 9 of What’s the Commission, Nick Terry and Landon Coker take the podcast on the road and dig into why showing up in person is becoming one of their most effective business development strategies. They talk through recent deals, including cleaning up a complicated lease after a business acquisition and navigating a land sale to a Fortune 500 end user, while breaking down how market knowledge, relationship management, and understanding the full life cycle of a property can make a broker far more valuable. They also get into street brokerage, why face-to-face prospecting can outperform another cold call, how overpricing a listing can hurt credibility, and why sometimes the best competitors are the ones who make you better. Plus, they talk about assuming positive intent, handling rejection without letting ego get in the way, and why reputation matters in an industry that is much smaller than it looks. Deals, competition, rejection, and a podcast recorded somewhere between Houston and the dove field. Key Takeaways: Showing up still matters. In-person prospecting can create stronger conversations, better rapport, and opportunities that may never happen through another phone call or email. Deep market knowledge is difficult to replace. Knowing the buildings, owners, tenants, pricing, and recent transactions allows brokers to advise from firsthand experience instead of relying only on databases. Understand the full life cycle of the real estate. Dirt costs, development, lease economics, operating expenses, and eventual exit values all influence the decisions clients make. Don’t overpromise just to win the listing. Aggressive pricing can make sense, but unrealistic expectations can damage credibility and leave you selling against your own advice later. Good competitors can make you better. A surplus mindset allows brokers to share knowledge, collaborate when it makes sense, and still compete hard for the business. Assume positive intent. Miscommunication and bruised egos can kill opportunities unnecessarily; sometimes taking a second to clarify the situation keeps everyone moving forward. Rejection is rarely as personal as it feels. Prospects may be rejecting the call, the timing, or another sales pitch — not necessarily you or the value you bring. Confidence comes from doing the work. Prospecting, knowing your submarket, tracking data, talking to owners, and getting real-world reps make it easier to believe you deserve a seat at the table. About Podcast: What’s the Commission is a light-hearted look at commercial real estate, hosted by Nick Terry and Landon Coker — brokers, investors, and business owners. They break down what’s happening in their day-to-day, dig into real deals and industry trends, and run regular segments like “The Dumbest Thing We Heard in Real Estate This Week.” Equal parts insight and entertainment for anyone in commercial real estate, investing, sales, or business.

4. 

   25 Sept 2026

   High Birds | What’s the Commission? Episode 8

   What do dove hunting and commercial real estate business development have in common? In Episode 8 of What’s the Commission, Nick Terry and Landon Coker turn a tough weekend in the dove field into a lesson on prospecting: when the birds are flying higher and your hit rate drops, you don’t quit; you adjust the approach, take more shots, and figure out how to get ahead of the opportunity. They break down why getting out from behind the phone and talking to businesses face-to-face has become such a valuable part of their prospecting strategy, from uncovering lease expirations and frustrated tenants to learning details about a market that simply won’t show up in CoStar. They also get into over-negotiating minor lease issues, knowing when the cost of solving a problem exceeds the actual risk, and why brokers need to understand the streets, properties, owners, and tenants they advise on, not just what the marketing materials say. Plus, they share advice for brokers early in their careers: protect your best prospecting hours, get as many real-world reps as possible, and never assume an opportunity is beneath you. High birds, low hit rates, and why getting out in the market still works. Key Takeaways: When the market gets harder, change the approach instead of stopping the activity. Lower conversion rates may simply mean you need a different strategy, more attempts, or better positioning. Get in front of opportunities early. Commercial real estate decisions can take 12–18 months or longer, so prospecting well before a lease expires creates more options and negotiating leverage. Market knowledge comes from being in the market. Walking properties and talking directly with tenants can reveal information, sentiment, and opportunities that databases cannot. Negotiate with both eyes open. Understand the actual financial exposure before spending excessive time, legal fees, or deal momentum fighting over a relatively small risk. Marketing materials don’t tell the entire story. Photos and renderings can make almost anything look attractive; firsthand knowledge helps brokers understand a property’s real strengths and weaknesses. Protect your “golden hours.” Use the times when prospects are most responsive for business development rather than administrative work that can be done later. Early-career effort compounds. A conversation or follow-up that produces nothing today may become a meaningful client or transaction several years down the road. Nothing is beneath you when you’re building your business. Smaller tenants and early-stage companies can grow into significant clients, and every conversation gives you more experience. About Podcast: What’s the Commission is a light-hearted look at commercial real estate, hosted by Nick Terry and Landon Coker — brokers, investors, and business owners. They break down what’s happening in their day-to-day, dig into real deals and industry trends, and run regular segments like “The Dumbest Thing We Heard in Real Estate This Week.” Equal parts insight and entertainment for anyone in commercial real estate, investing, sales, or business.

5. 

   12 Sept 2026

   Just bring me the food | What’s the Commission? Episode 7

   What does working hard actually look like in commercial real estate? In Episode 7 of What’s the Commission, Nick Terry and Landon Coker break down the difference between being busy and being productive, and why protecting your time, doing the uncomfortable work, and consistently showing up matters more than simply filling your calendar. They share real examples of dropping everything to save a deal, taking the inconvenient tour, and treating every listing like it matters once you’ve committed to it. They also dig into what separates average property marketing from great property marketing, why expensive assets shouldn’t be marketed like cheap ones, and how personal brand is built through the way you work, communicate, solve problems, and treat people. Plus, they get into careless lease comments, tenant defaults, accountability, and what Taco Bell unexpectedly teaches about contracts and recourse. Hard work, high standards, and doing the job like it’s yours. Key Takeaways: Being busy is not the same as working hard. Real productivity comes from focusing on the work that actually moves the business forward. Protect your time on task. Consistency, focus, and saying no to distractions create an advantage that compounds over time. Once you take on the assignment, it matters. The size of the fee shouldn’t determine the quality of service after you’ve committed to the client. Great marketing reflects the value of the asset. High-quality photos, thoughtful details, strong presentation, and accurate information all help a listing compete. AI can make the process faster, but it shouldn’t lower the standard. Efficiency only matters if the final work still passes the quality test. Your personal brand is built through your actions. How you handle problems, communicate with other brokers, fix mistakes, and follow through says more than any LinkedIn post. Problems are opportunities to build trust. When something goes wrong, exceeding expectations in how you fix it can create stronger loyalty than getting everything right the first time. Read the deal before commenting on it. Whether it’s a lease, LOI, or purchase agreement, understanding the context saves time and prevents unnecessary negotiation. About Podcast: What’s the Commission is a light-hearted look at commercial real estate, hosted by Nick Terry and Landon Coker — brokers, investors, and business owners. They break down what’s happening in their day-to-day, dig into real deals and industry trends, and run regular segments like “The Dumbest Thing We Heard in Real Estate This Week.” Equal parts insight and entertainment for anyone in commercial real estate, investing, sales, or business.

6. 

   4 Sept 2026

   Or is it seven? | What’s the Commission? Episode 6

   What does great client service actually look like in commercial real estate? In Episode 6 of What’s the Commission, Nick Terry and Landon Coker break down the behind-the-scenes work that keeps deals moving, from onboarding a major institutional portfolio and managing long due diligence timelines to setting expectations before frustration ever becomes a problem. They also get into creative lease negotiations, why bringing logic and market context to the table beats simply asking for more, and how brokers can create solutions that work for both sides of a deal. Then, they pull back the curtain on commission math, showing how a $48,000 brokerage fee can shrink quickly after team splits, brokerage costs, taxes, transaction support, and the everyday expenses of doing business. Plus, they talk about taking care of small clients, why not every good relationship needs to generate an immediate fee, and how helping people early can turn into much bigger opportunities later. Client service, creative problem-solving, and the real economics behind the commission. Key Takeaways: Your client is not always the final customer. Great brokers help their clients look good to investors, bosses, partners, and anyone else they ultimately report to. Setting expectations early prevents frustration later. Complex land and lease deals can take far longer than expected, and clear communication keeps everyone aligned. Good negotiations come with reasoning. Instead of making blanket demands, explain the math, market context, and business logic behind the ask. Creativity can solve problems without simply throwing more money at them. Structure, timing, caps, and shared costs can sometimes create a better outcome than a basic yes-or-no negotiation. Not every worthwhile deal is a big-fee deal. Taking care of smaller clients and referrals can build trust, strengthen relationships, and create larger opportunities over time. The headline commission is not what the broker takes home. Team splits, brokerage expenses, taxes, transaction support, travel, and other costs all come out before the money reaches the broker. Great service comes down to stewardship. Clients are trusting brokers with meaningful parts of their businesses, properties, and investments, and that responsibility should shape how the work gets done. About Podcast: What’s the Commission is a light-hearted look at commercial real estate, hosted by Nick Terry and Landon Coker — brokers, investors, and business owners. They break down what’s happening in their day-to-day, dig into real deals and industry trends, and run regular segments like “The Dumbest Thing We Heard in Real Estate This Week.” Equal parts insight and entertainment for anyone in commercial real estate, investing, sales, or business.

7. 

   28 Aug 2026

   Working on a Saturday | What’s the Commission? Episode 5

   What does it actually take to compete in commercial real estate when bigger firms, stronger resumes, and more experienced brokers are already in the room? In this episode of What’s the Commission, Nick Terry and Landon Coker talk about trust, representation, and why the best broker isn’t always the one with the biggest name, but the one willing to put in the work. They break down the difference between experienced commercial representation, unrepresented tenants, and residential agents stepping into commercial deals, including how each can affect negotiations, economics, and the overall transaction. Then, inspired by football season, they draft celebrity brokerage teams before getting into the bigger lesson: compete over compare. Instead of disqualifying yourself because someone else has a bigger resume, better resources, or more experience, focus on playing the game, improving your own performance, and staying in it long enough to win. Plus, they tackle guru culture, AI-generated expertise, questionable inbound leads, Saturday tours, and why doing an exceptional job with the opportunities already in front of you may be the best way to earn the next one. Competition, credibility, and the long game of building a brokerage. Key Takeaways: Trust and commitment matter. If a broker is expected to invest meaningful time and resources into a requirement, there needs to be a real working relationship behind it. The best representation comes with market knowledge. Experienced commercial brokers understand comparable deals, competitive options, lease economics, and where there is actually room to negotiate. Confidence without competence can be more dangerous than admitting what you don’t know. Being willing to ask questions and bring in the right expertise often creates a smoother deal. Compete instead of compare. Bigger firms and longer resumes don’t automatically win the assignment; consistent effort, preparation, relationships, and execution can close the gap. Commercial real estate is a long game. The people who continue following up, solving problems, building relationships, and delivering for existing clients create more opportunities over time. Want more business? Start by doing an exceptional job with what you already have. Strong execution builds the reputation that creates the next opportunity. About Podcast: What’s the Commission is a light-hearted look at commercial real estate, hosted by Nick Terry and Landon Coker — brokers, investors, and business owners. They break down what’s happening in their day-to-day, dig into real deals and industry trends, and run regular segments like “The Dumbest Thing We Heard in Real Estate This Week.” Equal parts insight and entertainment for anyone in commercial real estate, investing, sales, or business.

8. 

   31 Jul 2026

   What's a commission agreement? | What's The Commission? Episode 4

   What do Houston housing trends, industry tech rankings, and competitive go-karting have in common?Absolutely nothing—except that Houston brokers Nick and Landon decided to cover all three in one sitting.Join the guys this week as they break down serious market mechanics, analyze how tech is shaking up real estate rankings, and unpack a high-speed track battle that got way too personal. It’s equal parts industry insight and pure banter.

9. 

   24 Jul 2026

   Broker Attire & Deal Killers | What's The Commission? Episode 3

   Ready to buckle up for a fresh take on the wild world of real estate? In this episode, Houston real estate brokers Nick and Landon are breaking down the unspoken rules and hidden hazards of the business—from surviving the misery of a freezing cold car opener on a scorching day to the ultimate debate on proper plane attire and what brokers actually wear when they aren't posing for headshots. Plus, the guys share cautionary tales of the surprisingly small, seemingly innocent things that completely torpedoed massive deals at the final hour. Tune in for a lighthearted, honest look at the everyday realities, fashion faux pas, and unexpected deal-breakers of running a real estate business in the Lone Star State!

10. 

    10 Jul 2026

    Elon Musk & Engagement Letters | What's The Commission? Episode 2

    Ready to peek behind the curtain of running a successful company? In this episode, Houston real estate brokers Nick and Landon break down the business world essentials, from navigating engagement letters and the ins and outs of commercial leases to spatial planning and leveraging AI. Tune in for a lighthearted but actionable guide on how to streamline your property management, scale your business, and master the modern real estate market.

11. 

    10 Jul 2026

    Dog Days | What's The Commission? Episode 1

    Ready to kick off the ultimate real estate journey with a side of soccer? In this premiere episode, Houston real estate brokers Nick and Landon dive into surviving the brutal Texas summer heat, their wildest recent real estate encounters, and the massive buzz surrounding the World Cup in Houston. Tune in for a lighthearted look at what it’s really like to invest in real estate, manage properties, and run a business in the Lone Star State.

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