Why Six Percent Realtor Commission is Going Away
My father was a semi-truck driver. For many years he would work 60+ hours a week and even sleep over the wheel of his truck because back in the day semi-trucks didn’t have sleepers. He would also help unload the truck and get paid an extra $1 for every 1000lbs of freight he unloaded. That was work. The good thing is I grew up learning what work was all about, the bad thing is I grew up learning that as “work.” It wasn’t until I was much older that I learned and fully understood that leverage is the new hustle. It took many years of failing forward to understand you grow and expand by leveraging your weaknesses so you can lean on your strengths. This applies to many aspects of business, and no greater business than real estate. If you want to truly grow in 2020 and hit that production or GCI number, there has to be changes and additions to what you did in 2019.
Leverage What?
I found in my Title business, the only way I was going to get my numbers higher and higher is I had to STOP doing some of the basic job items. That sentence seems to make no sense, but in reality, it was how I grew. I took the items in my job almost anyone could do and I hired someone to do…those things. Pulling data mining lists for clients, setting up events, calling non-directing customers, and more were on the list. I also added items I was good at, such as growing this website, adding content, videos, teaching classes, and in appointments with heavy hitter Realtors/Lenders.
As a Realtor, Lender, or Title Rep, you need to identify where is your time best spent and where are you most valuable? My company paying me too much money to sit in an office and pull a data mining lists for clients was a horrible use of my time and their resources. Once we both got on the same page with this mentality…that leverage is the new hustle, things really took off. Leverage your time…and leverage your weaknesses.
Next Steps
Take the leap and hire someone or a couple of someone’s to assist in this growth. Yes, it costs money but I don’t know anyone who cut their way into prosperity. The upfront loss should and will become a long-term gain. This hire should manage your CRM, assist with marketing, make follow up calls, assist with an open house set up, and much more. These are essential tasks that need to be completed, but don’t necessarily need to be done by you.
If you are bearing the burden of all responsibilities in your real estate business, you are going to find it a long hard road that leads to burnout. I’m sorry but being my dad and working 60+ hours a week and helping to unload the truck takes a toll on you. Set a goal of when you want to have this new employee, hired, trained, and assisting your business.
Get Motivated and Takeoff in 2020!
As the new year approaches, we all have a goal we want to hit. If you want to hit higher numbers, make more money, become more successful, then it takes adding bricks to the building. This starts with re-evaluating your business and finding what tasks are “leverage” and what is something YOU should be doing. I know this is the hardest step because many successful people don’t want to “relinquish” control over tasks. When successful people finally do give up that power, they realize it was the best thing they could have done for their business.
Leverage is the New Hustle–With Stewart Title!
Of course, I have to find a way to get us in there! Our clients use us as leverage all the time. They leverage us for marketing support, 24/7 access, the mobile app for EMD’s and of course our top-notch Title team that can assist with any transaction in DC, Maryland, and Virginia. Be on the lookout for our 2020 Realtor/Lender educational classes starting in January!
Need help? See below!!!
Director of Sales/Marketing at Stewart Title
My name is Wade Vander Molen and I am the Director of Sales and Marketing for Stewart Title in Northern Virginia/Washington DC.I work with Real Estate agents and Mortgage Lenders helping them grow their business with Outbound and Inbound marketing strategies. If you wish to meet and set up an appointment call me at 480-203-6452 or email at wvander@stewart.com
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