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How Much is a Realtor's Time Worth? · Massive Agent Podcast

• 0:00
  SPEAKER_01: On this episode, we're talking about how much a realtor should be making per hour.
• 0:04
  SPEAKER_01: How much is a realtor worth per hour?
• 0:07
  SPEAKER_01: What is your time worth as an agent?
• 0:09
  SPEAKER_01: Okay, I'm gonna help you figure out how much you actually do earn per hour.
• 0:13
  SPEAKER_01: So you know your hourly rate.
• 0:15
  SPEAKER_01: And then we're gonna talk about the highest and best use of your time.
• 0:18
  SPEAKER_01: There's some things that the majority of agents are doing that is absolutely a huge time waster when you can pay somebody to do it for a lot less so you can focus on income-producing activities.
• 0:28
  SPEAKER_01: We'll talk about which activities those are.
• 0:30
  SPEAKER_01: And you're gonna walk away from this episode knowing how much you make per hour so you can cut the crap and focus on what you do best.
• 0:39
  SPEAKER_00: The massive agent podcast.
• 0:42
  SPEAKER_00: We lead generation tips and strategies to give you more leads and sell more homes.
• 0:47
  SPEAKER_01: I love to buy houses.
• 0:48
  SPEAKER_01: I like to sell houses.
• 0:52
  SPEAKER_00: Wait a minute.
• 0:54
  SPEAKER_00: Leads a week.
• 0:58
  SPEAKER_00: Oh have I got your attention now?
• 1:01
  SPEAKER_00: Here's your host, Dustin Brohm.
• 1:06
  SPEAKER_01: What is up, everybody?
• 1:07
  SPEAKER_01: Welcome to episode 180 of the Massive Agent Podcast.
• 1:10
  SPEAKER_01: I am your host, Dustin Brohm.
• 1:12
  SPEAKER_01: I'm a realtor in Salt Lake City, Utah, co-founder of the Industry Syndicate Podcast Network.
• 1:17
  SPEAKER_01: This podcast is a proud founding member of the Industry Syndicate Podcast Network for real estate, mortgage, real estate marketing, real estate investing, anything real estate related.
• 1:27
  SPEAKER_01: We have a podcast for it at industrysyndicate.com.
• 1:30
  SPEAKER_01: You can check that out over there.
• 1:32
  SPEAKER_01: Um, and also I am the creator of the Massive Agent Society, our online lead generation and um, you know, incoming business, like you know, customer acquisition program that teaches you how to use paid strategies like Facebook ads and um and how to organically post on social media the right way so that you actually get business from posting Facebook, LinkedIn, Instagram stories, whatever.
• 2:00
  SPEAKER_01: We all know agents that are crushing it by just posting on social and being social on social media, they're doing things a certain way.
• 2:10
  SPEAKER_01: And I, if you're not getting any traction from social, if you're not getting people hiring you just based on being active on social, you just need to make some tweaks.
• 2:18
  SPEAKER_01: So our program, the Massive Agent Society, tells you what to post every single day and uh and teaches you why that stuff works.
• 2:26
  SPEAKER_01: So check that out over at MassivagentSociety.com if that sounds interesting to you.
• 2:31
  SPEAKER_01: All right.
• 2:32
  SPEAKER_01: So today uh we're gonna talk about how much a realtor makes per hour.
• 2:36
  SPEAKER_01: All right, it's a it's a tough one, but I'm gonna help you figure out how much you actually earn per hour.
• 2:41
  SPEAKER_01: And then the greater conversation here is you know, how much should you be making per hour?
• 2:47
  SPEAKER_01: And then are you making the most of your time?
• 2:51
  SPEAKER_01: Are you using your time wisely?
• 2:53
  SPEAKER_01: Once you know how much you make per hour, let's say it's 50 bucks an hour, 100 bucks an hour, maybe it's$20 an hour.
• 2:58
  SPEAKER_01: I don't know.
• 2:58
  SPEAKER_01: Well, you're gonna have to figure this out and I'll walk you through it.
• 3:00
  SPEAKER_01: But once you know what that number is, now you can look at stuff like, you know, mowing your own lawn, or you know, I'll give a few other examples of things that you should hire out that cost much less money to hire out that frees you up to focus on growing your business.
• 3:17
  SPEAKER_01: Okay.
• 3:17
  SPEAKER_01: So I'm gonna walk you through all of this.
• 3:19
  SPEAKER_01: My goal with this episode and with this podcast in general is not just to help you get more business.
• 3:24
  SPEAKER_01: It's not just to help you bring more leads in and get customers coming in the door.
• 3:29
  SPEAKER_01: That's obviously huge, but also how I want you to learn how to how to run a profitable real estate business.
• 3:37
  SPEAKER_01: I want to teach you how to scale it.
• 3:39
  SPEAKER_01: I want to teach you what different options there are out there for um for how to structure your team or your business or whatever you're trying to do.
• 3:48
  SPEAKER_01: Because most agents out there, they're they're solo agents, they're solo, solopreneurs, if you will, that don't think like entrepreneurs.
• 3:55
  SPEAKER_01: They think like somebody that just owns their own job.
• 3:58
  SPEAKER_01: That's fine, but I don't think that's why the majority of us got into this industry.
• 4:01
  SPEAKER_01: So it's it's really something that I have been hammering on um these last few months is how to be more profitable, how to have more income streams, how to diversify where your money actually comes from as an agent.
• 4:15
  SPEAKER_01: Kind of important, right?
• 4:16
  SPEAKER_01: Like I know what it's like when you're on that commission hamster wheel, and literally the only source of income you have is closing a deal, you know, selling that listing, or or hopefully getting a buyer under contract, which in this market is tough.
• 4:29
  SPEAKER_01: You know, it's it's more difficult, it's challenging, certainly not impossible by any stretch, but it's more challenging than in a more balanced market.
• 4:38
  SPEAKER_01: So it kind of sucks when you have no predictability behind your income.
• 4:42
  SPEAKER_01: And so we we talk about some of those other ways that agents can have other revenue streams and be building wealth with investments and you know, all the all the stuff, right?
• 4:51
  SPEAKER_01: All the stuff.
• 4:52
  SPEAKER_01: Today we're focusing on making the most of your time uh and and doing the income-producing activities that'll actually drive revenue into your business.
• 5:03
  SPEAKER_01: Okay, and this starts with understanding how much you actually earn per hour.
• 5:07
  SPEAKER_01: All right.
• 5:08
  SPEAKER_01: So let's do some simple math on this.
• 5:10
  SPEAKER_01: All right.
• 5:11
  SPEAKER_01: Um, here's how you calculate how much you are earning per hour.
• 5:15
  SPEAKER_01: And this fluctuates.
• 5:16
  SPEAKER_01: Uh, you know, I understand that realtors don't clock in and clock out.
• 5:20
  SPEAKER_01: And if you're on a team or something that you do, that's weird to me, but it's easy for, you know, it'll make calculations for this exercise easier.
• 5:29
  SPEAKER_01: Um, I don't know about you, but I got into real estate because I wanted time freedom.
• 5:34
  SPEAKER_01: I wanted to be able to set my own schedule.
• 5:36
  SPEAKER_01: If I want to take my kid to school or pick them up or go with them on a field trip or go on a hike in the middle of the day or go to the gym or just take a week off, I I didn't want anybody else telling me that I could or couldn't do that.
• 5:50
  SPEAKER_01: That's why I got into real estate.
• 5:51
  SPEAKER_01: One of the reasons.
• 5:53
  SPEAKER_01: So for me, you know, if if you are in a job where you have to be at the office from this time to this time, maybe that works for you.
• 6:00
  SPEAKER_01: I'm not saying that that shouldn't, I'm not saying that that's not okay, as long as that's what you want.
• 6:06
  SPEAKER_01: Okay.
• 6:07
  SPEAKER_01: I I hope that you're honest about what you actually want out of your career and out of your life.
• 6:12
  SPEAKER_01: Because if you've been listening to the the last four to eight episodes of this show, you know there's an infinite number of different ways to structure your business.
• 6:21
  SPEAKER_01: Not all of them are available to every agent.
• 6:24
  SPEAKER_01: I mean, some of them require that you're with a certain brokerage that gives you flexibility in a certain framework to do things.
• 6:30
  SPEAKER_01: Um, sometimes you have to bring on people and hire in order to grow what you want to build.
• 6:36
  SPEAKER_01: That's all that's all great.
• 6:38
  SPEAKER_01: So, anyhow, let me let me get to how to calculate how much you make per hour as a realtor.
• 6:44
  SPEAKER_01: Pretty simple calculation, right?
• 6:46
  SPEAKER_01: Let's start with$100,000 a year.
• 6:48
  SPEAKER_01: If and and let's just do gross because net income, there's a lot of stuff that, you know, hopefully your net income is considerably less than your gross.
• 6:57
  SPEAKER_01: That means you're doing it right.
• 6:58
  SPEAKER_01: That means that you have a lot of um of non-taxable expenses, you know.
• 7:03
  SPEAKER_01: So if you have an LLC, if you run your business through an S-corp, um, you know, you can run a lot of expenses, your car payment, your gas, some food, you know, all the stuff.
• 7:14
  SPEAKER_01: Talk to a talk to a CPA.
• 7:16
  SPEAKER_01: I'm not a tax guy, but your website, uh, you know, the dues to your brokerage, if you have them, all that stuff, those are the legit business expenses.
• 7:24
  SPEAKER_01: So if you have$100,000 a year coming in gross, you're not getting taxed on$100.
• 7:29
  SPEAKER_01: And if you are, you're doing it wrong.
• 7:31
  SPEAKER_01: Okay.
• 7:32
  SPEAKER_01: So after expenses, there's a lot, you know, it's much smaller number.
• 7:36
  SPEAKER_01: We're talking about gross today.
• 7:37
  SPEAKER_01: How much gross commission income, GCI, are you bringing in?
• 7:41
  SPEAKER_01: So for this example, let's use$100,000 per year.
• 7:44
  SPEAKER_01: Okay, you're you're at$100,000 gross per year.
• 7:47
  SPEAKER_01: You work 40 hours a week, and you take two weeks off for the year.
• 7:51
  SPEAKER_01: You know, pretty, pretty common with, you know, if you worked a nine to five job, 40 hours a week, you know, you have two weeks off of vacation each year.
• 7:59
  SPEAKER_01: Let's say that that's what you're doing.
• 8:01
  SPEAKER_01: That equals, so that's 2,000 hours worked in a year.
• 8:05
  SPEAKER_01: That's 50 bucks an hour.
• 8:06
  SPEAKER_01: Okay.
• 8:07
  SPEAKER_01: 100,000 divided by 2,000 is 50,$50 per hour.
• 8:11
  SPEAKER_01: Okay.
• 8:12
  SPEAKER_01: So if you if if that works for you, if you're at 40 hours a week, you know, you you take a couple weeks off in the year, you your gross is 100,000, you're earning$50 an hour.
• 8:23
  SPEAKER_01: Cool.
• 8:23
  SPEAKER_01: Congratulations.
• 8:24
  SPEAKER_01: Or I'm sorry.
• 8:26
  SPEAKER_01: Depends on how you look at it, right?
• 8:27
  SPEAKER_01: We're all in different stages of our career, totally fine.
• 8:30
  SPEAKER_01: Some are more ambitious than others, some want more, some want less, some need more, some need less.
• 8:35
  SPEAKER_01: It's all good.
• 8:36
  SPEAKER_01: You have to define that for yourself.
• 8:38
  SPEAKER_01: Let's go with$250,000 in gross commission for a year.
• 8:43
  SPEAKER_01: You're working the same 40 hours a week.
• 8:45
  SPEAKER_01: That's 125 hours or sorry,$125 per hour.
• 8:50
  SPEAKER_01: So that's 50 weeks worked because I, you know, I'm taking two weeks off for the year.
• 8:54
  SPEAKER_01: So we're only doing 50 weeks worked at 40 hours a week for the year, 125 bucks an hour.
• 9:01
  SPEAKER_01: It's not bad, right?
• 9:02
  SPEAKER_01: It's not bad.
• 9:03
  SPEAKER_01: So do this calculation first.
• 9:05
  SPEAKER_01: Okay, figure this out.
• 9:07
  SPEAKER_01: And here's why I want you to have this number in your mind.
• 9:10
  SPEAKER_01: Maybe it's more, maybe it's less.
• 9:11
  SPEAKER_01: I don't know.
• 9:12
  SPEAKER_01: Maybe you work 20 hours a week, maybe you work 80.
• 9:14
  SPEAKER_01: I know a lot of buyers agents right now are working closer to 80, a lot of listing agents working closer to 80, because it's taking them half of that just to go through all the goddamn offers and communicate with uh with the buyer's agents of why they didn't get it and communicate to the seller.
• 9:28
  SPEAKER_01: If you if you're a buyer's agent or you're somebody that that looks at the listing agent like, oh, they've got it made, yes, they can get it under contract very easily, but it doesn't mean that their job is easy.
• 9:39
  SPEAKER_01: They have all sorts of shit they have to deal with in this market that doesn't exist in a more balanced market.
• 9:44
  SPEAKER_01: So everybody has a tough uh or a more challenging role right now.
• 9:49
  SPEAKER_01: Buyer's agent, listing agent doesn't matter.
• 9:52
  SPEAKER_01: Okay.
• 9:52
  SPEAKER_01: So I just want you guys to know that.
• 9:54
  SPEAKER_01: You guys that are only working with buyers and you're like, oh, listing agent would be so easy.
• 9:58
  SPEAKER_01: Uh yeah, listings do require less work because you're not out there showing homes for 10 hours on a Saturday.
• 10:05
  SPEAKER_01: Like I get it.
• 10:06
  SPEAKER_01: Uh, but you still, when you have 42 offers come in on a listing, there's a lot of work involved with that.
• 10:12
  SPEAKER_01: A lot of work.
• 10:14
  SPEAKER_01: Um, where the hell was I?
• 10:16
  SPEAKER_01: Okay, so you need to have in your mind how much you make.
• 10:20
  SPEAKER_01: Let's just run with$100 per hour.
• 10:22
  SPEAKER_01: Okay, you're making$100 an hour.
• 10:24
  SPEAKER_01: That's what you figured out.
• 10:26
  SPEAKER_01: And it I understand you're not going to know exactly how many hours per week you work, but estimate.
• 10:30
  SPEAKER_01: Okay, if it's eight hours a day, Monday through Friday, Monday through Saturday, whatever, just figure it out.
• 10:37
  SPEAKER_01: I just ran with 40 hours a week because that's it's a nice round number.
• 10:39
  SPEAKER_01: But let's do 100 bucks per hour, is what you're earning.
• 10:43
  SPEAKER_01: If you, if you make, if each hour that you spend working on your business brings in$100, why the hell are you mowing your lawn?
• 10:54
  SPEAKER_01: Why are you driving back to a restaurant that overcharged you$7 and it takes you 25 minutes to turn around, go through the drive-thru, get the refund, and do all the bullshit because they overcharged you six or seven bucks?
• 11:08
  SPEAKER_01: Why are you doing that when each hour of your time is worth$100?
• 11:14
  SPEAKER_01: Right?
• 11:15
  SPEAKER_01: This hopefully this is a paradigm shift for you.
• 11:19
  SPEAKER_01: Hopefully, now you're understanding.
• 11:21
  SPEAKER_01: Oh my god.
• 11:22
  SPEAKER_01: Yeah.
• 11:23
  SPEAKER_01: Okay.
• 11:24
  SPEAKER_01: Do you are you somebody that drives out of your way 10 minutes or or or even wastes an extra uh you know five or 10 minutes to go save five cents a gallon on gas because it's cheaper over there?
• 11:38
  SPEAKER_01: The reason that I am asking these specific questions, I used to do all this shit.
• 11:44
  unknown: Okay.
• 11:44
  SPEAKER_01: Uh I used to do all this stuff.
• 11:46
  SPEAKER_01: Um, when I had a painter come in, uh, for example, just a couple of years ago, hell, it was last year.
• 11:52
  SPEAKER_01: No, it was last summer.
• 11:53
  SPEAKER_01: I know this because uh yeah, we had a pergola built in our backyard.
• 11:58
  SPEAKER_01: Cost at the time, I thought it was crazy expensive.
• 12:00
  SPEAKER_01: It was like 10 grand.
• 12:01
  SPEAKER_01: Okay, it was 10 grand.
• 12:03
  SPEAKER_01: Um, they said it would save us about a thousand dollars if we painted it ourselves.
• 12:08
  SPEAKER_01: And I'm like, well, that's that's not that hard.
• 12:11
  SPEAKER_01: Well, yeah, it is.
• 12:12
  SPEAKER_01: It took days.
• 12:14
  SPEAKER_01: Okay, there was a lot of wood.
• 12:15
  SPEAKER_01: We had to do multiple coats.
• 12:16
  SPEAKER_01: The paint itself cost over a grand, cost 1200.
• 12:21
  SPEAKER_01: Um now the the painters would have actually charged more than a thousand to paint it because the the cost of the paint was more.
• 12:28
  SPEAKER_01: But, anyways, at the time I thought it was crazy expensive.
• 12:31
  SPEAKER_01: Uh, the builder recently, I'm like, hey, we really dodged a bullet by building this last year, didn't we?
• 12:36
  SPEAKER_01: How much would how much would that pergola have cost us if we built it this year?
• 12:40
  SPEAKER_01: And he said about 40 grand because of the cost of labor and uh and mainly lumber uh has gone up.
• 12:47
  SPEAKER_01: So wow, like I thought it was expensive then.
• 12:51
  SPEAKER_01: You know, had I waited, that would have been very expensive.
• 12:54
  SPEAKER_01: Anyhow, um, we decided to paint it ourselves.
• 12:58
  SPEAKER_01: When I factored in all the all the the hours that it that it took to do that, that I couldn't be working, and and my number is more than a hundred dollars an hour.
• 13:09
  SPEAKER_01: It's it's more than that.
• 13:11
  SPEAKER_01: The number that I figured out for myself is more than that.
• 13:13
  SPEAKER_01: So when I look at it, I'm like, I was working for like$10 an hour there.
• 13:18
  SPEAKER_01: Like it was so stupid, so dumb.
• 13:21
  SPEAKER_01: Um my wife and I, we haven't cut our lawns in a few years.
• 13:25
  SPEAKER_01: We pay$35 a week to have somebody come and cut our lawns every Wednesday.
• 13:29
  SPEAKER_01: They came this morning, it looks amazing.
• 13:31
  SPEAKER_01: They it takes them 10 minutes.
• 13:32
  SPEAKER_01: They have a crew of two or three that that shows up, they do the edging, they they mow, they take all the the clippings away, they do uh all the shit that would have taken me an hour and a half.
• 13:42
  SPEAKER_01: But they do it for 35 bucks.
• 13:44
  SPEAKER_01: Okay.
• 13:45
  SPEAKER_01: One of the best, easiest things that every single one of you guys can do if you have grass is hire it out.
• 13:51
  SPEAKER_01: Okay, cleaning your house, doing dishes, folding laundry, uh, all of these things that you spend your time doing, unless you love them, that's fine.
• 14:02
  SPEAKER_01: But if you don't, once you know how much you are worth per hour and how much you're gonna make on average if you spend the time working, it's now you can see why people hire a nanny or why they hire a housekeeper, why they have somebody detail their car, why they have somebody come wash their car in their driveway.
• 14:22
  SPEAKER_01: So that all now you can see why why people do these things.
• 14:27
  SPEAKER_01: It's for time.
• 14:28
  SPEAKER_01: All right.
• 14:29
  SPEAKER_01: If you earn$100 per hour and you wanted to go wash your car, okay, and it's gonna take you, let's say 30 minutes out of your day.
• 14:38
  SPEAKER_01: Drive there, go through the car wash, come back.
• 14:40
  SPEAKER_01: Let's say it's 30 minutes.
• 14:42
  SPEAKER_01: It's probably less, maybe it's more, I don't know.
• 14:44
  SPEAKER_01: But 30 minutes.
• 14:45
  SPEAKER_01: So that's 50 bucks.
• 14:46
  SPEAKER_01: How much did the car wash cost?
• 14:48
  SPEAKER_01: Right?
• 14:49
  SPEAKER_01: 20 bucks, 30.
• 14:51
  SPEAKER_01: I don't know.
• 14:52
  SPEAKER_01: But how much would it cost to have somebody come to your house and wash it for you so you don't have to stop working?
• 14:58
  SPEAKER_01: Right?
• 14:59
  SPEAKER_01: Probably less than 100 bucks.
• 15:01
  SPEAKER_01: So now that you know how much you earn per hour, you can make better decisions.
• 15:07
  SPEAKER_01: Realtors, transaction coordinator.
• 15:10
  SPEAKER_01: We've talked about this many times, and I'm not done talking about it either.
• 15:15
  SPEAKER_01: Are you still doing all the paperwork?
• 15:17
  SPEAKER_01: Are you still submitting files to your broker?
• 15:20
  SPEAKER_01: Are you still, you know, converting shit to PDF and making sure all the T's are crossed and I's are dotted and sending, you know, if you're personally going into Dot Loop or into Digisign, into Sky Slope, into DocuSign, whatever, and marking up contracts and you know, marking all that stuff up yourself, you're doing it wrong because you can have someone do that for much, much, much less than$100 an hour.
• 15:45
  SPEAKER_01: And they're gonna be better at it.
• 15:46
  SPEAKER_01: If you hire a good TC, they're better at that stuff than you.
• 15:50
  SPEAKER_01: This is why I I always harp on agents to hire a transaction coordinator, even if you feel like you you're not ready for one.
• 15:57
  SPEAKER_01: Because I'm telling you, it first off, with most TCs, you pay when the deal closes.
• 16:03
  SPEAKER_01: Let's say it's$400.
• 16:04
  SPEAKER_01: Okay, some are for some are$300, some are$500.
• 16:08
  SPEAKER_01: Depends on what they do.
• 16:09
  SPEAKER_01: Okay, but but here's how it works with a transaction coordinator.
• 16:12
  SPEAKER_01: You go get a listing agreement signed, okay, and you can even say, Hey, TC, here's the seller's info.
• 16:17
  SPEAKER_01: Can you please mark that up and send that listing agreement for signatures?
• 16:20
  SPEAKER_01: And if they're a licensed transaction coordinator, they can do contracts for you.
• 16:24
  SPEAKER_01: An unlicensed one cannot deal with contracts because they're not a licensed real estate professional.
• 16:30
  SPEAKER_01: Uh, so get a licensed transaction coordinator.
• 16:33
  SPEAKER_01: When you do, now you can spend more time talking with clients, prospecting, doing marketing, posting on social media, doing an Instagram story, or if you want to, just chill.
• 16:44
  SPEAKER_01: Okay.
• 16:45
  SPEAKER_01: But here's where this really gets good.
• 16:48
  SPEAKER_01: You know that you make$100 per hour, and then you start to hire out mowing the lawns.
• 16:53
  SPEAKER_01: You have somebody drive to your house to change your oil in the driveway.
• 16:57
  SPEAKER_01: You um, if you if a restaurant overcharges you 10 bucks and it's going to take you 20, 30 minutes to go fix it, you just let it go because you're like, not worth my time.
• 17:06
  SPEAKER_01: I make 100 bucks an hour.
• 17:10
  SPEAKER_01: Once you start thinking that way, here's the key.
• 17:13
  SPEAKER_01: The key is to spend the time that you just saved working on income-producing activities, content on social media, okay, uh, prospecting, whatever that looks like for you, door knocking, calling, social media posts, responding to comments, making comments on other people's posts, whatever, putting together an email blast that you send every week, running Facebook ads, excuse me, all that stuff.
• 17:38
  SPEAKER_01: Those are income-producing activities.
• 17:40
  SPEAKER_01: Okay.
• 17:41
  SPEAKER_01: If you can, if you can take the time that you just saved by hiring out, getting your lawns done, and having somebody else paint your house, and having somebody, you know, a gardener come in and get rid of the weeds and do all the shit, right?
• 17:55
  SPEAKER_01: It or detail your car for you, you start to do that and you were you use that time on income-producing activities, your income and your business will explode.
• 18:04
  SPEAKER_01: I guarantee freaking to it.
• 18:06
  SPEAKER_01: If you were, if you recall, I don't have the episode number in front of me.
• 18:09
  SPEAKER_01: We've had Matthew Kane on the show twice.
• 18:11
  SPEAKER_01: Okay, he's an agent, he's been an agent for just over two full years.
• 18:16
  SPEAKER_01: He's he's doing around 100 deals per year now by himself.
• 18:21
  SPEAKER_01: And the first year, the first time he was on this on the show, he was doing 40 deals.
• 18:25
  SPEAKER_01: He did, he did 40 deals his first year by himself.
• 18:28
  SPEAKER_01: And so we had him on to see, you know, how do you do that?
• 18:30
  SPEAKER_01: Then we brought him in after year two, and he doubled it to 80, 85 deals a year.
• 18:35
  SPEAKER_01: And we asked him, if you recall the episode, I'll find it here in a second.
• 18:39
  SPEAKER_01: Uh, but just search Matthew Kane Massive Agent Podcast, you'll find the most recent episode in whichever podcast player you're listening, or just Google it.
• 18:48
  SPEAKER_01: Um he I asked him, like, what did you do to go from 40 to 80 or 85 deals?
• 18:54
  SPEAKER_01: He said, simple transaction coordinator.
• 18:57
  SPEAKER_01: The transaction coordinator took all the busy work off of his plate, the contracts, you know, scheduling inspections, scheduling all the shit, right?
• 19:05
  SPEAKER_01: So now he he is all this time freed up to connect with clients, connect with his sphere of influence, to go out and actually meet and service clients.
• 19:16
  SPEAKER_01: So now his ability to service clients expanded dramatically.
• 19:21
  SPEAKER_01: And so it's not that he was necessarily busier, it's not like he worked twice as much.
• 19:26
  SPEAKER_01: He just worked on income-producing activities.
• 19:29
  SPEAKER_01: His time was spent on income producing activities and not the busy work that he could hire out for$10,$12,$15 an hour.
• 19:36
  SPEAKER_01: Right?
• 19:37
  SPEAKER_01: That single-handedly, the transaction coordinator helped him go from 40 deals a year to 80, it might have been 85 his first year.
• 19:44
  SPEAKER_01: Incredible.
• 19:45
  SPEAKER_01: Right?
• 19:46
  SPEAKER_01: Absolutely incredible.
• 19:48
  SPEAKER_01: So that's the key.
• 19:49
  SPEAKER_01: Not it, and even if you're just freeing up your time, if you can afford to do that, if you can afford to, you know, because look, I get it.
• 19:56
  SPEAKER_01: You're like, well, I I need to hang on to that extra$120 a month or whatever you're spending to have your your grass cut.
• 20:04
  SPEAKER_01: Well, okay, but again, how much is your time worth?
• 20:09
  SPEAKER_01: If you're if you're spending time doing that, you can't do this.
• 20:12
  SPEAKER_01: If you're spending your time doing this, you can't do that.
• 20:14
  SPEAKER_01: There's it's not like you can do multiple things at the same time.
• 20:18
  SPEAKER_01: You really can't.
• 20:19
  SPEAKER_01: Like, yes, you can multitask with you know, this, that, this tab open, that tab open.
• 20:24
  SPEAKER_01: Like, I do that stuff too.
• 20:26
  SPEAKER_01: Not exactly smart, um, but sometimes you just have to do it.
• 20:29
  SPEAKER_01: But you can't be mowing your lawn and prospecting at the same time.
• 20:33
  SPEAKER_01: You you can't do that.
• 20:35
  SPEAKER_01: So, you know, you you've got to pick.
• 20:38
  SPEAKER_01: But this the key is the money-making activities.
• 20:44
  SPEAKER_01: Spend your time doing the money-making activities, the income-producing activities.
• 20:50
  SPEAKER_01: And I promise you, you will have a similar story to Matthew Kane.
• 20:54
  SPEAKER_01: And, you know, you're you're just spending the time that you'd be working, anyways, but you're you you're spending it smarter.
• 21:01
  SPEAKER_01: You're working on income-producing activities instead of busy work.
• 21:05
  SPEAKER_01: And I want you guys to just be conscious of this.
• 21:08
  SPEAKER_01: If this is a if this is new, a new way of looking at things for you, awesome.
• 21:11
  SPEAKER_01: If you've been in the business for a while and and you you you're kind of already doing this, cool.
• 21:15
  SPEAKER_01: What else can you hire out?
• 21:17
  SPEAKER_01: You know, I I've gotten to the point where I hire out a lot of the stuff uh with my content.
• 21:23
  SPEAKER_01: I create the content, I record this this podcast, but then I take the video and I send it over to my team.
• 21:30
  SPEAKER_01: I have somebody edit the podcast and put the music in the front and you know, transitions and all the stuff, and they they send me back a finished podcast episode.
• 21:38
  SPEAKER_01: They upload it to BuzzSprout for me.
• 21:40
  SPEAKER_01: I just go in, create the title, and then and the description, the show notes.
• 21:45
  SPEAKER_01: Okay, so I record the content and then the verbiage itself, like the show notes, I create that.
• 21:50
  SPEAKER_01: All the other mechanical stuff I have somebody else do.
• 21:53
  SPEAKER_01: I take this video, I send it over to my assistant Renee, and she sends it to my video team and she takes care of a few things.
• 22:00
  SPEAKER_01: And they s they send back some clips for social media that then I go share with the guest.
• 22:08
  SPEAKER_01: That stuff, those are things that I personally don't need to do.
• 22:12
  SPEAKER_01: I but I do personally need to record this podcast.
• 22:15
  SPEAKER_01: I can't outsource this podcast being recorded.
• 22:19
  SPEAKER_01: You know, I can't do that.
• 22:21
  SPEAKER_01: I'm not going to do that.
• 22:22
  SPEAKER_01: That'd be weird.
• 22:23
  SPEAKER_01: I can't outsource being on a video.
• 22:27
  SPEAKER_01: I have to be on a video.
• 22:28
  SPEAKER_01: I can't outsource somebody else writing with my personality and my voice.
• 22:33
  SPEAKER_01: But what I can do is have them come up with a summary of the episode.
• 22:37
  SPEAKER_01: And then I go in and change some things and put it in my own verbiage, in my own words.
• 22:42
  SPEAKER_01: So that saves me a lot of time so I can do more of it.
• 22:45
  SPEAKER_01: And it frees me up to do other things.
• 22:47
  SPEAKER_01: You know, I have a couple irons in the fire and you know, a team of 160 plus now in 30 states.
• 22:54
  SPEAKER_01: And so I'm able to devote a lot more time to support them and help them to grow their business and to help them to get more deals coming in because I'm not so focused on mine.
• 23:04
  SPEAKER_01: It's been it's been game changing since I started to understand how much I how much I earn per hour and then outsourcing all the shit that somebody else can do cheaper.
• 23:15
  SPEAKER_01: It and aside from the money, the freeing up mental space and mental energy is hugely underrated.
• 23:25
  SPEAKER_01: Just by just by me knowing that when I record an episode, for example, and then I just send it off and they take care of all the stuff, and then I just have to write a headline and stuff, that frees me up from thinking about, okay, I've got to edit this.
• 23:39
  SPEAKER_01: I need to take out you know 45 seconds to three and a half minutes because you know uh there was an audio issue or whatever, I gotta chop this little piece out.
• 23:48
  SPEAKER_01: I don't have to think about that stuff.
• 23:49
  SPEAKER_01: I can now think about vision.
• 23:51
  SPEAKER_01: I can think about the direction that I want to go.
• 23:53
  SPEAKER_01: I can think about you know what else I can do to expand and grow rather than all the minutiae.
• 23:59
  SPEAKER_01: So that so even if even if you're outsourcing something that only saves you 10 minutes, 20 minutes, whatever, not having those things weighing on your on your mind in your your ongoing mental to-do list that we all have, it you start removing stuff from your your mental to-do list and you become more clear.
• 24:20
  SPEAKER_01: And I promise you, you're gonna be getting a lot more done and you're gonna be growing faster.
• 24:25
  SPEAKER_01: You're actually gonna be able to focus on the direction to go and moves to make rather than just maintaining all the little things.
• 24:32
  SPEAKER_01: Because I was doing that for a long time.
• 24:34
  SPEAKER_01: And and I'm still not where I need to be with that, but I was so focused on just getting a podcast out and getting, you know, my team taken care of for the week and getting this planned and that planned that I was never growing.
• 24:46
  SPEAKER_01: I was never like doing more.
• 24:48
  SPEAKER_01: I was always just staying where I was at until I hired an assistant, till I have a video team doing, you know, chopping up the podcast episode and doing the YouTube version and all that stuff.
• 24:58
  SPEAKER_01: I I wasn't able to grow because I didn't have time when it was all on my shoulders.
• 25:03
  SPEAKER_01: So whatever, whatever you make per hour, think about that now in the front of your mind when you're doing stuff throughout the day.
• 25:13
  SPEAKER_01: When you're going to the grocery store.
• 25:16
  SPEAKER_01: If you're spending an hour going to Costco, when you could just go on their website, order it, have it delivered, and it only costs you an extra 20, 40, 20, 30, 40 bucks or whatever for delivery, and you're making$100 an hour, you're spending 40 bucks to have it delivered, you just saved yourself 60 bucks.
• 25:37
  SPEAKER_01: And that time was spent building.
• 25:41
  SPEAKER_01: See how this works?
• 25:42
  SPEAKER_01: So if you're spending your time going to the grocery store and preparing dinner and all that, like that's fine if that's what you want to do.
• 25:49
  SPEAKER_01: But like with meals, you can have meal prep done.
• 25:52
  SPEAKER_01: You know, but my wife and I have used something called clean eats, where they'll ship uh meals with all the nutrition facts and everything, and they're actually freaking delicious.
• 26:01
  SPEAKER_01: Clean eats is what it's called.
• 26:02
  SPEAKER_01: There's a bunch of them.
• 26:04
  SPEAKER_01: Um, but clean eats, I really like.
• 26:06
  SPEAKER_01: They'll ship it to you, you know, covered in dry ice and all that.
• 26:08
  SPEAKER_01: So it comes to you still frozen.
• 26:10
  SPEAKER_01: It's kind of cool.
• 26:11
  SPEAKER_01: And uh, and then you just take the thing and pop it in the microwave or put it on the stovetop.
• 26:15
  SPEAKER_01: And, you know, five minutes later or less, your meal's ready rather than taking 30 minutes, chopping shit up, putting stuff together, cooking it, that saves a bunch of time.
• 26:25
  SPEAKER_01: Yeah, maybe the meal costs you$15 instead of$6.
• 26:31
  SPEAKER_01: Okay.
• 26:33
  SPEAKER_01: See where I'm going with this?
• 26:35
  SPEAKER_01: I hope that you're thinking differently now.
• 26:38
  SPEAKER_01: Because this is this has changed my life and my business.
• 26:41
  SPEAKER_01: And now I'm thinking, what else can I outsource?
• 26:43
  SPEAKER_01: Anything that doesn't personally require me to be on video or my voice to actually be part of the content, I can I can outsource it.
• 26:53
  SPEAKER_01: So I'm constantly figuring out how else I can do that.
• 26:56
  SPEAKER_01: So I can be the CEO and not, you know, not the what the hell else would it be?
• 27:04
  SPEAKER_01: You know, just the person doing all the shit, right?
• 27:06
  SPEAKER_01: Like I can hire someone to do the things.
• 27:09
  SPEAKER_01: I can hire somebody better than me to do the things while I'm the CEO and I just overlook and make sure that stuff gets done properly.
• 27:18
  SPEAKER_01: I make sure that you know everything's working properly.
• 27:21
  SPEAKER_01: You have to start thinking of yourself as the CEO of your company and of your brand.
• 27:26
  SPEAKER_01: If you don't, start today.
• 27:29
  SPEAKER_01: You are the CEO of your own business.
• 27:32
  SPEAKER_01: Of your own business, not your own job, your own business.
• 27:36
  SPEAKER_01: Hope this was helpful, guys, because this concept has changed my life and business forever.
• 27:42
  SPEAKER_01: Um, it's it's something that once you start going down this path, you're gonna realize the power of it.
• 27:48
  SPEAKER_01: So, one last call to action, one last plea to you as agents.
• 27:54
  SPEAKER_01: I don't care if you're a brand new agent who's never sold anything yet.
• 27:58
  SPEAKER_01: I don't care if you are slow right now.
• 28:01
  SPEAKER_01: I don't give a shit what your excuse is.
• 28:04
  SPEAKER_01: Hire a transaction coordinator now.
• 28:08
  SPEAKER_01: Right now, even on an existing deal that maybe you've, you know, you're you're 25% through, hire a transaction coordinator to finish it out.
• 28:17
  SPEAKER_01: Free up that time and that mental space so you can focus on income-producing activities.
• 28:23
  SPEAKER_01: If I believe real estate agents that do not have a transaction coordinator are making one of the biggest mistakes that they could possibly make.
• 28:34
  SPEAKER_01: I think it's probably the biggest mistake agents make is doing all those things themselves.
• 28:40
  SPEAKER_01: Hire a transaction coordinator.
• 28:42
  SPEAKER_01: It's not an expense, it's an investment.
• 28:45
  SPEAKER_01: It's an investment.
• 28:47
  SPEAKER_01: Hope that helps, guys.
• 28:48
  SPEAKER_01: Hope that helps.
• 28:49
  SPEAKER_01: I hope that changed your perspective a little bit.
• 28:52
  SPEAKER_01: Um, because man, there's no reason that you shouldn't be selling two, three, four times as many homes.
• 28:58
  SPEAKER_01: Or uh maybe your goal is to sell fewer homes.
• 29:01
  SPEAKER_01: You just want to go from you know a$200,000 price point to a$600,000 price point.
• 29:06
  SPEAKER_01: Cool.
• 29:06
  SPEAKER_01: Awesome.
• 29:07
  SPEAKER_01: I support that too.
• 29:08
  SPEAKER_01: Amazing.
• 29:09
  SPEAKER_01: But whatever it is, it's time to start putting the systems in place for you to grow and not just manage what you already have.
• 29:17
  SPEAKER_01: There's a very big difference.
• 29:19
  SPEAKER_01: Everything we just talked about is the path forward to growth.
• 29:25
  SPEAKER_01: If you don't do it, if you're still trying, if you're still going out of your way to save 10 cents a gallon on gas, for God's sakes, have you ever done the math on that?
• 29:33
  SPEAKER_01: Have you ever actually done the math?
• 29:35
  SPEAKER_01: You you go 10 minutes out of your way to save 10 cents a gallon, you have a 15-gallon car, you've saved$1.50.
• 29:42
  SPEAKER_01: Fantastic.
• 29:44
  SPEAKER_01: That's fantastic.
• 29:45
  SPEAKER_01: Is that really worth it?
• 29:46
  SPEAKER_01: It's not.
• 29:48
  SPEAKER_01: This is all about scarcity or mind uh a mindset of scarcity versus abundance.
• 29:54
  SPEAKER_01: For so many years, for so much of my life, I had the mindset of scarcity where I had to buy the cheaper thing.
• 30:02
  SPEAKER_01: I I had to get the store brand thing because it was 75 cents cheaper.
• 30:06
  SPEAKER_01: I didn't really want it, but it was 75 cents cheaper.
• 30:09
  SPEAKER_01: Okay.
• 30:10
  SPEAKER_01: Now, sometimes, don't get me wrong, the store brand is the exact same thing as the name brand.
• 30:14
  SPEAKER_01: I get that totally fine, but you get my point here.
• 30:18
  SPEAKER_01: You you get my point.
• 30:19
  SPEAKER_01: Um scarcity versus abundance.
• 30:22
  SPEAKER_01: Okay, you start switching over to how do how do I make sure that I'm earning$100 per hour and outsource everything that isn't, or let me rephrase this.
• 30:34
  SPEAKER_01: If you if you earn$100 per hour in real estate and you are mowing your own lawns, you're literally working for$35 an hour.
• 30:45
  SPEAKER_01: Or less if it takes more than an hour, right?
• 30:48
  SPEAKER_01: It takes me more than an hour, takes me an hour and a half or so, and I don't even have a big yard.
• 30:52
  SPEAKER_01: If I wanted to do you know all the stuff, it's gonna I'm working for less than$30 an hour.
• 31:00
  SPEAKER_01: Just not a smart business move, guys.
• 31:03
  SPEAKER_01: Growth, abundance versus managing, staying small, not growing, scarcity.
• 31:12
  SPEAKER_01: Have a mindset of abundance.
• 31:14
  SPEAKER_01: And uh along the lines of mindset, I will be talking a lot more about mindset over these coming weeks.
• 31:20
  SPEAKER_01: I told you a few, probably a month or so ago, that I went through a 21-day challenge, a mindset challenge that was huge.
• 31:28
  SPEAKER_01: Like I actually like crazy shit happens when you start thinking from a place of abundance, and uh like money started coming in from places that were totally unexpected, that I know were a direct result of um uh of getting rid of the blockage in this flow of of money.
• 31:49
  SPEAKER_01: The analogy that that I've learned is you know, money is like a river, okay?
• 31:53
  SPEAKER_01: It's energy, right?
• 31:54
  SPEAKER_01: And so if you are doing certain things to block that flow, like paying your bills late, you know, you're holding on to$100 because uh you know you're gonna pay your bill late because you know, what if I need that$100 later?
• 32:06
  SPEAKER_01: That's scarcity.
• 32:07
  SPEAKER_01: When you start paying your bills on time or even ahead of time, and you pay somebody else and you invest in yourself and you start rewarding yourself for things that you want, you start getting things you want versus what you uh what you think you should get to be budget conscious within a reason, of course, you start doing those things.
• 32:24
  SPEAKER_01: And pretty soon that that river, that money river, if you will, um, it just starts flowing when you when you unblock it.
• 32:34
  SPEAKER_01: Crazy things have happened.
• 32:36
  SPEAKER_01: And so um this next weekend, I and my wife and I are actually going down to Scottsdale, Arizona for a three-day um intense mindset coaching experience called Upgrade X.
• 32:49
  SPEAKER_01: Um it's uh what they what they say is it's 10 years of growth in three days.
• 32:55
  SPEAKER_01: 10 years of growth in three days.
• 32:57
  SPEAKER_01: And the stories that people have uh coming out of there are insane.
• 33:02
  SPEAKER_01: Like their income, sometimes 10xs within a month or two.
• 33:06
  SPEAKER_01: And you know, they can't guarantee that obviously, but um the bottom line is this your the way that you think, your mindset is everything.
• 33:16
  SPEAKER_01: Your mindset is everything, like everything in your life right now, the results you have or don't have, well, even if you don't have results that you want, those are still results.
• 33:25
  SPEAKER_01: Those are symptoms.
• 33:26
  SPEAKER_01: Okay, those are the fruits.
• 33:28
  SPEAKER_01: Those aren't the that's not the tree.
• 33:30
  SPEAKER_01: Okay, those are the fruits.
• 33:32
  SPEAKER_01: What what's at the root?
• 33:34
  SPEAKER_01: You know, whatever is at the root in your in your mind produces the fruits.
• 33:39
  SPEAKER_01: So you you change the roots and you're gonna get different fruits.
• 33:44
  SPEAKER_01: Well, that sounds fantastic.
• 33:46
  SPEAKER_01: Uh wasn't planning on rhyming so much.
• 33:49
  SPEAKER_01: Did you know that this this episode is sponsored by Dr.
• 33:51
  SPEAKER_01: Seuss?
• 33:52
  SPEAKER_01: But you you get my point.
• 33:54
  SPEAKER_01: Um we're as I go through this this experience, I'll be sharing more and more.
• 34:00
  SPEAKER_01: But it's along the lines of abundance versus scarcity and how to program your mind to get what you want.
• 34:07
  SPEAKER_01: And um, and I'll be sharing, you know, the 21-day challenge that I took, I think it was like 50 bucks.
• 34:13
  SPEAKER_01: Um, I'll be sharing that, you know, if you guys wanted to do that yourself, and then some of the other stuff.
• 34:18
  SPEAKER_01: So stay tuned for that.
• 34:19
  SPEAKER_01: But um, figure out how much you earn per hour and then make wise decisions with that in mind.
• 34:25
  SPEAKER_01: That right there can change everything for you.
• 34:27
  SPEAKER_01: I appreciate you guys listening.
• 34:29
  SPEAKER_01: I appreciate you guys watching if you're on YouTube.
• 34:31
  SPEAKER_01: Please go subscribe to the YouTube channel if you haven't yet.
• 34:34
  SPEAKER_01: You can watch these episodes in their entirety over on YouTube.
• 34:38
  SPEAKER_01: Um, so make sure you subscribe so every new episode you'll get notified that it's there.
• 34:42
  SPEAKER_01: And uh that's cool.
• 34:44
  SPEAKER_01: Um, and then stay tuned for more on the mindset stuff because crazy shit is already happening in my life.
• 34:50
  SPEAKER_01: And um, I think it's just gonna get crazier.
• 34:53
  SPEAKER_01: So uh, and I cannot wait to share with you guys.
• 34:56
  SPEAKER_01: Appreciate you all.
• 34:57
  SPEAKER_01: Have a great rest of your day, have a great weekend.
• 35:00
  SPEAKER_01: Go close some loans, go sell some homes, go do go hire out some bullshit.
• 35:06
  SPEAKER_01: How about that?
• 35:06
  SPEAKER_01: Go hire out some of the bullshit that you really shouldn't be doing yourself.
• 35:09
  SPEAKER_01: Talk to you guys next week.
• 35:10
  SPEAKER_01: Take care.