Not enough agents treat their real estate careers as a business. When they interview with a real estate company, they ask what share of the commission they will get: is it 50%, 70%, 95%? What is included, what are you going to do for me?

That's the question asked by an employee, not a business owner. You're an Independent Contractor. That means you're in Business, even if it's a business of one. You ARE a business.

Turn the % around - what are you paying the real estate company? 50%, 30%, 5%?  What are you getting for that money? It could be training, mentoring, brand recognition, print materials, advertising, floor time, leads - so many things. You need to analyze what you're paying for what you're getting, and determine if it makes sense. If the benefits are more than the costs, that's good. When that ceases to be the case, that's bad. Most business (at least for experienced agents) comes because of you, not your company.

How much of your business does come directly, from the company, or through referrals because you ARE with a particular brand or company? Figure that out. Of course the unknown is how much you would get by being with another brand, or on your own. Business forecasting, like any projection, does have unknowns.

This is the most basic question of business. Then go on to look at other aspects of your business.

What are you getting back for your advertising and marketing? How many calls to do you get - more important, how many transactions have you closed as a result of that advertising? Then compute your cost per sale. Compare that to internet strategies, direct mail, etc. Measure effectiveness and response, not vanity. You are a business.

Do you track how much time and expense goes into each transaction? You should. Use that to determine which buyers and sellers or types of transactions you should accept, and which to turn down.

Sharon Simms, Real Estate Agent selling homes in St. Petersburg, Florida, the Gulf Beaches and the Tampa Bay area.