Hey, Ryan -

The formula is quite simple, but you have to track your time very carefully - few agents and brokers do, however.

Last year, dividing my gross income, minus business expenses, but before taxes, by the number of hours I worked resulted in my Hourly Rate of $160.28/hour.

In the stronger market of a couple of years ago, my Hourly approached $200/hour.

Today, where each deal is an adventure, and a lot of work is involved handling negotiation and inspection issues, my hourly rate is down somewhat - to about $4.50/hour. 

Therefore, you'll most likely be seeing me working as a greeter at Wal Mart very soon (just kidding - down this year to about $105/hour, thus far).

Drop in anytime!

DEAN & DEAN'S TEAM CHICAGO

That's an interesting question and I imagine if you factored in phone, driving, & negotiating time, it would surprise all of us! What really boggles the mind are the many Buyers who think that we work for free, and have no clue that the time we spend with them is time we expect to get paid for. Maybe they just don't understand the concept of "non-hourly" wage or "commission-based" pay. 

I'm definately below the minimum wage - and have not benefits!  I am going to have to rethink this.  I don't know why so many agents have heavily discounted their fees.  That is for another blog!

Probably, my best guess is $10.00/hour, no perks, no insurance, no holidays, but I love it anyway.

Hmm great question I think one issue over looked is no where else can you work and give your self a raise... if you want to double your hourly rate just pick up the phone and start dialing

I haven't calculated this but it would definitely vary depending on how many transactions I am working on. 

All very good responses and all very true.  One thing is for sure is that we should all know this, so we can show our clients all the time we actually put into them, so they do not think we get these enormous paychecks that we do not get...

I am not telling you what to ask, but just saying, I like to promote all of my services and why I am worth what I ask...

A program for this would be great for tracking production and time management per listing...

Ryan, sometimes I just don't want to know what my "hourly rate" is....love the flexibility though!

Joddie, I fully understand that and what is amazing to me, is how with all our flexibility, I still see grown-ups abusing it and slacking off for hours at a time and then wonder why in a couple of months their pipeline is depleated to almost if NOT nothing...

When you really look into it, you have 40 hours a week to do all of your banking, title & inspections needs.  After 5 PM it is hard to find anyone but a voice mail to listen to you or get ahold of...

When you take into account, you filing, paperwork, meetings/lunches, mental breaks, research and showings, you really do NOT have that much time to slack off to. 

Especially for our market. Once warmer temperatures and nicer weather comes our way, we have about 6 months to make it or break it.  Our market dies when the holiday season is upon us and usually does not start up again in full force until late spring.