How Much Do You Make Per Hour In Real Estate?
Brian asks an important question in his post How Much Do You Make Per Hour In Real Estate?
The other question is How Much Do You WANT to Make Per Hour in Real Estate?
Too often we as agents like to do the mundane tasks that would be better to delegate to someone else at a different rate of pay. At least we need to realize if we like to do minimize wage jobs we have to factor that into our hourly rate.
Reading The ONE Thing is helping many of my KW colleagues focus and become more efficient, often by leveraging and paying money for others to do certain tasks.
The more we as agents only do the unique tasks that generate income, the more money we will earn per hour in real estate.
How much do you make per hour in Real Estate? I am reading a great book that has yet to hit the shelves. Keller Williams agents were lucky enough to get advanced access to "The One Thing" by Gary Keller and Jay Papasan. Actually, anyone can get access to it with that link. If you preorder a hard copy, you will receive a downloadable eBook that you can put on an iPad or Kindle, which is how I am almost done with it.The theme of the book is "What is the one thing that you can do NOW that will make everything else easier or unneccessary." It also goes much deeper into the psychology of multitasking and motivation, but that will be for another post.
As I began thinking about this, I thought what is the one thing I can do NOW that will make everything else easier or unneccessary for me? I narrowed it down to a few things, but had trouble getting it down to one. How can it be just one? If you focus all of your energy and efforts on one thing, small things will slip through the cracks.
That is when I began to think about leverage. You have 2 things in this world that you can leverage in any situation: Time and Money. For example, tonight I spent 2 hours doing yard work. Was that the best use of my time? Probably not. I could have been making phone calls, blogging, tweaking my website, or on a listing or showing appointment. Instead, I should have leveraged my MONEY instead of my time and hired someone to do that.
So how much do you make per hour in real estate? This is a very important question to ask yourself. It doesn't have to be based off of what you made last year vs the time you spent working. It should be the amount that you would be HAPPPY making in the amount of time that you would be HAPPY working. EVERYTHING that you do should be focused and centered around this one ideal - what can you do to ensure that you make what you want to make.
Again, you have time and money as your resources. Add up the amount of time that you spend doing "menial" work - working ON your business instead of in your business. Once you add up that amount of time, compare that to your desired hourly wage. Does it add up? My guess is no, it doesn't. You probably spend more time on these tasks than you want and less time on tasks that could be bringing in another commission check.
For me, I have decided that it is time to leverage my money, rather than my time, to get these tasks done. There are a huge number of tasks that I do on a daily and weekly basis that could easily be hired out at a much cheaper cost than my desired hourly wage. It is time to hire an assistant. Yes, it will cost money to pay the assistant, but by leveraging that money it will free up my time to work where I work best - in front of clients and generating leads instead of doing paperwork and other simple yet time consuming tasks. This additional time in front of clients and lead generating will help me grow my business even further, bringing in more money. It will also free up my time to spend with my friends and family, and perhaps even a little "me" time.
I will leverage the power of money to bring back something that is even more precious: Time. Perhaps you, too, need to start leveraging your money to free up some of this quality time. So how much do you make per hour in real estate? Are you happy with it?
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Brian Rayl, REALTOR®
B&B Realty Group - Keller Williams Elite Park Cities
214-699-1799
Brian@BBRealtyGroup.com
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