Avoiding Commission Breath: Part 2
A wise fella once told me, “It’s not how much money you make, it’s how much you keep that makes a person financially secure.” Part of the reason I’m bringing this up is because when you get that first commission check, there are a couple things to consider before you book a flight to Vegas or head down to the Lexus lot.
If you were an employee of a corporation, the goal would be to not live paycheck-to-paycheck, right? So, if you are running your real estate business in a similar fashion, let’s consider what is removed from your pay before it lands in your account.
At a minimum they take out:
Taxes
Health Care
401K contributions
So, when you get your first check, wouldn’t it be smart to remove these 3 items first so that you can pay them later? You might even add a few more buckets to build a marketing budget or build emergency savings.
Your client wants to know and feel that you’re working for them, not desperately working to pay yourself.
Exercise:
Decide how many buckets you need, open accounts to put your money in and then pay your debts from there.
Get a business credit card and account.
If you have experienced a time when your clients didn’t buy their perfect house, consider why not.
Brainstorm 3 practices you could implement that reduce either confusion or common objections, so they don’t misstep over their dream home in the future.
I’d love to hear what you do to keep your business on track and client focused. Leave me a comment below.
Until then, chin up, keep your feet moving … and burn the white flag.
sz
Copyright 2019 - Shelley Zavitz Realty