What's Your Hourly Rate?

Have you ever stopped to consider how much you are worth an hour? Let's go through the steps together and I trust you will come to the conclusion that you should work less! I mean it ;) Stay with me here.....

220 work days of 8 hours each day in 1 year. $100,000 a year would equal $56.81/hour however I don't know about you but it's not true. You don't work a total of 8 hours in one day. Let's just say that 3 hours a day are TRULY working hours of productivity. 

220 work days of 3 hours each day. $100,000 a year would equal $151.51 an hour. 

So knowing that you are earning $151.51 an hour, let's reconsider the tasks that you do throughout the day. 

• Driving

• Shopping

• Consulting

• Selling

• Counseling

• Encouraging

• Researching

Does it change the way you look at the tasks you HAVE TO DO? It should. 

I remember years ago, I sold Partylite candles as a candle consultant. I loved the work. I would have friends host a party and invite all their friends and co-workers and neighbors over for our candle party. I would come up with themed parties, call everyone to confirm the guest list, present the latest and greatest candles and scents then collect the orders. When it was all said and done, a "great sales night" could be anywhere from $2000-$3000 in sales which was great however when I stopped to think about the time, effort and energy I put into it, I wasn't making much an hour at all. I knew I had to find a way to work SMARTER not HARDER. 

That's when I came across the book "Life Makeovers" by Cheryl Richardson.  I loved this book because at the end of every chapter, there was a suggested reading list and take action type questions. I remember thinking I want to make an impact on peoples lives by being a real estate agent. But I was clueless. I had no degree, no formal education beyond some college... who would trust me? Where would I find training and mentoring that I desperately needed? 

I researched online and studied to get my real estate exam and never looked back. I have shared my story about real estate numerous places but this quick video sums up how I found a way to create 4 income streams. Check it out and let me know if you are ready to learn how? I am looking for others to mentor and train. Message me for more info. 

My Debt Confession

Allowing yourself to be vulnerable and admit to mistakes you've made, especially in a public format, is really intimidating. As honest as I am on social media (and in life), I don't share everything. I cultivate the image of myself that I want to project. It's essential to my business that I'm careful and circumspect about what I say, but it's also about walking that tricky line that's become an issue with the advent of blogs and Facebook and Twitter. Balancing my own inclination toward privacy with the internet's invitation/temptation to share it all. Everything. All the time. With everyone. I think I've spoken here before about money, which is definitely a loaded topic. And I may even have mentioned debt before. But I don't think I've shared the specifics of my story and how I climbed clawed my way out of it.

So that's what I want to do today.

Several years ago, when I was relatively new to real estate, I was also drowning in debt.   Over 50K in debt, to be exact. And it was diverse--student loans, credit card balances, a car loan, medical bills… you name it, I owed money for, on, or to it. Maybe you have similar debt, or more, or less. Whatever the amount, it can feel crippling. It can suck the life right out of you. Sometimes it's a gradual, creeping realization that we may have borrowed ourselves right into a life we can't afford. Other times it's a bright, flashing, blaring siren of dread the instant we signed our name on the dotted line.

This is how I felt: I was in a tunnel with no light at the end of it. The number was so huge to me that I literally couldn't imagine a scenario in which it wouldn't exist anymore. I was working so hard and none of what I was earning felt like it belonged to me.

The light appears...

I was with a small group of friends one night and a gal said there was a book about how to pay off debt for pennies on the dollar. That seemed way to good to be true. But I bought the book and read it front to back and then over again. I read it until I got the courage to start calling my creditors to settle the accounts. (Looking back, I learned some crazy amazing negotiating skills through that experience!) The thing I hadn't realized was that companies will settle with you for less than you owe for a couple of reasons. One is that sometimes the original creditor sold the debt to a company that just goes around buying existing debts for much less than what's owed on them. They then set about trying to collect. So, you can negotiate with them for pennies on the dollar because they only paid a fraction of what you owed in the first place.

Secondly, sometimes a company has essentially given-up on collecting anything on the debt. So, if you call and make them an offer of something, they'll take it.

Still, it is not a fun experience to make those calls. It's the opposite of fun, actually. And the good news for you is that you don't have to do it yourself. Our trusted team has a credit repair expert who does the negotiating for you and, together we can help you create a plan that leads not just to freedom from debt but to home ownership too. For some it’s a 6-month plan, for others it’s 18-months.

Just know I’ve been there. I personally short sale my property and contemplated bankruptcy a couple of times... so I'm not asking you to consider something I haven't already myself. There’s no shame. I know the struggle and I’m happy to help encourage you out of it. We should talk! Call us to schedule a confidential consultation.

I did a short video about my fun real estate math equation, where 1+1=4. Whether you're trying to get out of debt or avoid it, more and diverse income streams are a necessity. Check that video out below!

 https://youtu.be/DXuGd-BpHFI

Retire Out of Real Estate

If you have your real estate license, you know the true definition of hard work. You know the grind. You understand the time, energy and compassion it takes to do your job well. What if you feel called to something more? What if you are bored and are ready to start a new adventure and don't know how to transition out? 

 Did you know that we have a real estate business acquisition specialist who can sit down with you and help you put together your exit strategy?

Click "contact us" for more info today and book you career visioning consultation. 

When You're Stuck...

Are you a slave to your job?

Alarm Clock

Are you overworked and exhausted?

Exhaustion

Do you just feel stuck?

Stuck

Do you cringe at the costs you're paying for childcare while you're at work? Or are you intimidated by the prospect of returning to work and the associated childcare costs?

Childcare

Does your debt keep piling-up with no end in sight?

Debt

I remember feeling all of those things.

My earning potential was limited and yet my debt was this massive obstacle staring  me in the face every moment of every day, and I had no hope of paying it off without a corresponding massive change in my income.

It was a vicious cycle. No matter how many extra shifts I took; no matter how many days I didn't spend one penny more than required to keep a roof over our heads and food in our stomachs; I couldn't get ahead.

It was demoralizing. And it was frustrating. Because I knew that I was smart; I knew that I was a hard-worker; and I was motivated to build a life I could be proud of. I just didn't know how to do it. That

stuck

feeling is horrible.

Work Smarter, Not Harder.

I realized I needed a career--not just a job. I searched online but every position that sounded perfect for me required the college degree that I didn't have. And here's the thing about college degrees--they aren't magic. You can feel stuck and broke, overworked and dissatisfied with a degree too. So degree or not, this applies to you.

What I wanted was to be a in position where there were no limitations. Where whether or not I succeeded and to what extent was totally up to me and how

hard

smart I was willing to work. Where the rules that had governed how I thought about work went out the window, and I could, for once in my life, take a chance on

ME

.

All that to say, I've been where you are. And I can show you the blueprint for how get from where you are to where you want to be. Wherever that is! Your real estate career may not look exactly like mine. That's okay. That's good, actually. You have probably spent many years structuring your job/career based on what someone else (your boss, maybe) wants or needs it to be. Or having a recruiter or interviewer decide whether you're qualified enough for the job you want.

That can stop now. Be your own boss. Own your own business. And reach your potential.

We should meet! Email or call me to set up a time to chat.

Where Do You Belong?

I’ve been with Keller Williams for my entire real estate career and I cannot imagine working anywhere else! For a number of reasons—the interdependent business model, the continuing education/support/coaching opportunities, and technology resources (the list goes on!)—I truly believe it is the best brokerage, bar none. That’s why I started this website and why I serve in leadership roles for the company. But…

There are other solid brokerages out there that might be a better fit depending upon your personality, goals, working style or preferred business model.

No matter where you ultimately decide to put your talents to work, make sure you’ve asked the questions (and received the answers) you need to make an informed decision. To help you a bit with that, I’ll share the 5 questions I’d encourage you to ask real estate brokerages before you decide which one is right for you.

What business model does their company employ? Is it an independent model in which you are completely on your own as an agent—essentially owning your own business with all the risks and rewards that can entail?

Is it a dependent model, in which you are an employee subject to their rules, regulations and job descriptions?

Or is it an interdependent model (Keller Williams fits into this model)? As you may have guessed, an interdependent model combines many of the best parts about independent and dependent modes. In this model you get all of the perks that come with a big name brokerage: name/brand recognition, access to technology, educational, coaching, staff and other resources. At the same time, you get to build your own business under the brokerage’s umbrella. You get to set your own goals and build a business that is the size and scope you want.

What are their commission splits and office fees? Do you ever sell enough that you get to keep 100% of your commission? This is a very big deal. You need to know how much of what you bring in is going to go back to the brokerage and for what. And whatever that percentage is, you must decide whether you think it’s a fair tradeoff for the support and resources you’re getting from that company and how it compares to the other brokerages for whom you could work.

At Keller Williams you do get to keep 100% of your commission, once you’ve reached your annual responsibility to the company. As of this writing, once I’ve paid $19,000 to Keller Williams I get to keep 100% of any other commissions I make.

What kind of training is provided and, if so, what does that training cost? You’ll want to know what kinds of educational opportunities exist for you at whatever brokerage you select. And I mean formal, established programs. If you want to move into a leadership role, is there a curriculum you can follow to learn what you need to know to do that? If you want to start investing in properties and being a landlord as part of your business plan, does that brokerage have a program to help you be successful in that venture? Is there a mentoring or coaching program established at that brokerage, in which you could be matched with a more experienced agent who has a career similar to the one you want to pursue for yourself?

Ask to see a list of the educational and coaching programs that brokerage offers and make sure that the things that are of interest to you are available.

What kind of technical support is provided and what does that cost? By tech support, I don’t mean someone who can fix your computer if it breaks, although that is worth knowing too! When I talk about technology in this context, I mean does the brokerage provide you with the following:

• A Website

• Contact Management Database

• A Personal Mobile App

• Listing Syndication (and how many sites?)

• Technology Training

• Marketing Materials

What kind of support/support staff is provided? Does the brokerage have administrative support to offer you? How about transaction coordinators to handle the paperwork and manage the due dates associated with the purchase or sale of a home? If so, how many hours per week will you have access to that support and for how much money? Will they provide you with a computer, a printer, copier or other practical support you need to do your job?

These questions are by no means a comprehensive list of things to ask, but I think they are the five most important ones and a good place to start in drafting your list of questions.

I do office tours regularly for prospective agents (some already licensed and some who are not). If you haven’t taken one already, but would like to come in, ask me some questions and learn more about Keller Williams and careers in real estate, click on the Get Started page and send me a message.