Every good agent we meet is focused so hard on finding listings and when they win one most really do have their clients best interests at heart.
This week we spoke with many real estate agents and some are so busy looking for listings that they don’t give themselves a moment to discover how much commission they are literally throwing away.
It is astonishing how many residential real estate agents (and good ones I might add) don’t know their figures. They know how many sales they made in the last 12 months because it’s published on their realestate.com.au profiles but they don’t really know how much their gross commission produced equals.
All agents we speak with know how much they earned or how much their Group Certificate/Company Profit Statement was but they don’t know the real important number.
Let’s take a look at one agent we met with this week and his situation. He’s a talented agent with great skills and been in real estate for many years. He is working in a well know agency and he is somewhat comfortable but he is haemorrhaging cash from his hard work and personal networking skills.
He thought he was on a 65% commission split, so I asked if we could probe a little deeper and check it out for him.
When we drilled into his figures during our strategy session we discovered that he had made 26 sales in 9 months and produced gross commissions of $405,000 and his group certificate was just $140,000.
This means he is getting just 34.5% of the gross commissions he is producing when he thought he was getting 65%.
Why would you bother chasing your tail looking for another listing to continue under this financial arrangement, stressing yourself and your family quite possibly only to be robbed month after month of your hard earned?
This is not fair for the good and successful agents in our industry and at Ozway we are committed to change this for the sales agents.
With Ozway powering him with a dedicated (real life people) support team and after all subscriptions and admin service payments, this real estate agents new business will be keeping $359,000.
Every month he stays where he is, he is losing $18,000, that’s PER MONTH.
This is like working hard to find 26 listings for the year and then not getting paid for 13 of them.
Imagine not getting one red cent?
Yet this is exactly what so many agents are doing day in day out when they are rushing around looking for listings.
On the flip side, imagine how much better your life will be if you got paid an additional average selling fee commission for every 2 sales you made.
How good would that be and what would that really mean to you and your future?
For this agent, it means he will be keeping an additional $216,000 per year.
What would you be able to do with an additional $216,000 per year, over and above what you had earned the year before?
Would you buy an investment property or two every year?
Over a 5 year period the Ozway solution will be helping this agent keep an additional $1,075,000 and if he chooses to invest the excess commission he keeps into assets that produce growth or cashflow then there is a much better future for him and his family where they will have many more choices, and sooner.
Stay tuned and we will let you know when this agent has transitioned to a much better way of building his future and serving his clients.
Here’s a sneak peek at how the new personalised branding will look with Ozway powering you.
If you would like to find out more about how Ozway can empower (and grandfather) you into your own real estate operation where you get to keep much more of your commissions and you won’t have to worry about day to day compliance (Ozway helps you with this too) and paperwork…
We have written a report to show agents how they move towards keeping 100% of their hard earned commissions, well it’s 100% then we have to pay business expenses but 100% sounds better right?
We hope you enjoy the free report.
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