Friday’s BOLD LAW from KW MAPS NLP Coach George Gillas
Your business grows to the extent that you do
I play an interesting game with some clients that I encourage you to do now. It’s about what you are worth in dollars while doing what you are best at doing– helping people buy, sell, or invest in real estate.
What is your average commission?
About how many hours does it take to do a deal? Now this one is tricky since the sales cycle is long and time is broken up. Most agents tell me somewhere between 10 – 15 hours total time…
Divide your average commission by the number of hours. What do you get? Example: Avg comm. = $7000. Total time = 15 hours. Hourly rate is $467/hour.
I know this doesn’t include fees, COS, etc. Its GCI. But still… over $400/hour when you are focused on doing what only you can do…
I was in a conversation today with a client and he was telling me about all the things that ae challenging (frustrating) him. Problems with a couple deals… difficult clients… dealing with other realtors. I asked him if he would like to not have those problems and he knew I was going somewhere with the question. I said, “If you work for someone else, you wouldn’t have to worry about stuff like that… of course, you also couldn’t earn in one month what most people don’t make in a year (he’s done this many times). And, by the way, you’d probably be unemployed right now as a result of COVID…”
Jim Rohn famously said, “Don’t wish it was easier… wish you were better.”
You are in a position to earn better than most. The world has changed in the last few weeks. Business as usual is going to be different. If you want your business to grow – you need to grow first. This is the responsibility you have to your business and your family. It is the opportunity you have with real estate and KW.
It’s only too late if you don’t start now. So decide to make the best of the extra time you have… and plan to grab market share when this clears. Because it will.
Will you be ready?
Contributed by KCN leader Don Aldrich, Faye Humphrey & KW MAPS NLP Coach George Gillas