Thinking about a career in San Diego real estate sales? If you're a current sales professional looking to control your own income and success in a new industry, or you're an existing real estate agent who needs more help to reach your goals, email me today for a private San Diego real estate career consultation. I'll share with you what a sales career at Keller Williams looks like, as well as the great income you will earn helping San Diego homeowners sell and buy homes in our greater San Diego County area.
Working as a solo agent would appear to be the best way to make a lot of money in the real estate industry - after all, a single agent doesn't have to split commission with other agents. But when you look deeper, there are many benefits to being a part of a team. Think of it like this: When you're working a transaction you have a job - but when you have an agent helping you with a transaction, you have a business.
We all know it takes about 50 hours to complete a real estate transaction; 10 hours are spent generating the lead and 40 hours are spent servicing the lead and dealing with administrative work after close. Let's say you make $15,000 commission on a deal as a solo agent doing your own lead generation and paying your own costs - your hourly rate would come to $300.
If you're on a team, you might pay a great assistant $800 to do the administrative stuff (40 hours) while you focus on lead generation (10 hours). At this point,you are making $1,420 an hour and working only 10 hours on a transaction. If you add a buyer's agent to the mix and split the commission, you'll still keep $7,100 of the original commission. Here's where the magic of leverage comes in: the buyer's agent will go out and look at properties, show properties, and write contracts (8 hours), while all you have to do is generate leads (2 hours). The buyer's agent makes a healthy $750 an hours, while you make $3,500 an hour because you spend only 2 hours generating leads!
So, by dividing labor and using leverage to get deals done, you are making more money per hour and working fewer hours. But you don't stop there - since you now only focus on generating leads, you focus in on that and dedicate more and more hours to it. It's all about finding out how much your time is worth and maximizing it. An added bonus to all of this is that each member of the team gets better at their job because that's all they do. They become specialists!
As you can see, joining a team is a whole lot more profitable than it would seem on the surface. It's all about using the magic of leverage to maximize your results and grow your business.
Want to know more about building teams? Don't hesitate to shoot us an email or click the links here on this page. We would love to hear from you!
