Help! When and how do I hire help?

Read The Millionaire Real Estate Agent as it contains a great blueprint for hiring all of your hires.  I'm at the same point right now and found the MREA very helpful

Ben, I just went through this myself. My 2nd year in RE, I closed 40 transactions. My 3rd year 58 transactions. I was about to drown in admin work. Everytime I tried to hire help, it would slow down and out of fear of feeding someone else, I continued to drown in paperwork.  Well at the beginning of this year, I said that's it. I'm just going to take the plunge and do it.  My business slowed down. I just moved forward because it was probably slowing down b/c I couldn't handle all the pieces that needed to be in place by myself.  My assistant has been with me for about a month now.  She agreed to start part time and supplement my needs with other temp work until I could handle a full time asst which is what I really need.  It is time for me to let go or otherwise I wouldn't be able to do any more business.  There's still a learning curve but I know in time, I'll be able to relax and know she's handling it. I'm still learning as I go but the key to knowing you need an asst is when your quality of life starts to suffer b/c you're working too much doing work that can be delegated to someone else. Best of luck!

Ben- I 2nd the recommendation to read and really digest the Millionaire Real Estate Agent. The book provides a blueprint to business growth that simply is brilliant.

Best of luck with your very good to have "problem"

Scott 

Ben, I also recommend reading Millionaire Real Estate Agent.  I read it about 8 months ago. However, It doesn't take away the fear of "feeding another mouth." It's a good guide to developing your team and what to look for as your hire.  It still took me several months to put my toe in the water by placing an ad for an admin asst. Just remember that if you hire the right person, they can make you wildly successful by helping you so that you can really do the things that make you money. 

She's only been with me 1.5 months.  She's currently paid by the hour part time 20 hours/wk. $12.50 until she grasps the process. After she gets a handle on it and can run the office efficiently, we agree to increase her to $15/hr.  She started part time since a listing doesn't come in everyday or a ratified contract, however, since I told her that, it has seemed like we've been getting one of each every other day. We've talked about lowering her pay to a salary when she goes full time and then get paid a percentage of each sale so it's a bonus for her to make sure all the steps happen to get it to the closing table and give the opportunity to make more money and encourage business to come in via referrals.  

I hired someone not familiar with RE b/c I didn't want someone saying while I use to do it "this way." I wanted her to learn my way. I was also looking for someone that would potentially be a great office manager and understand the concept of the team envirmonment and how everyone's job is important and not want to become an agent.   

What I would do different? Start with lower pay since she's coming from out of the real estate field and then increase from there as she progressed. I might have considered someone more familiar with RE so that my training time would have been minimal, but I think that depends on the candidate.  She's picked it up well given she has no RE background.