How to REALLY Write Your Own Paycheck (and Cash it too!)
Wouldn't it be great to write your OWN check?
One of the first questions I ask Agents during an interview is how much they would like to make. Inevitably, I will hear, “I expect to make $120,000 to $150,000.” Newly licensed Agents will quickly follow this with, “But this first year, I figure $50 to $60K.” When you ask them how they came up with that number, they’ll tell you that they figure, via their contacts, sphere of influence, family and friends, they will close at least 1 deal a month, with an average commission of $10,000. Great goal; would LOVE to see it happen, and work my darndest to give them the tools they need to get there…
Yet did you know that, at the height of the market, a Broker/ Manager would expect a newly licensed Agent to close only 3.2 transactions their first year? With an average commission of less than $4,000? If you just did the math, you’d see we’re off by, oh, a wee bit here… I’m sure it comes as no surprise, then, that 87% will leave the industry within the first two years.
Read more in our next post about a very simple way you can avoid massive failure and not only survive but thrive as a licensed Agent.
