At some point, the time may come when your best move will be to hire a real estate assistant. If you’re doing 15 to 20 transactions without an assistant, you’re probably having trouble finding balance in life. An assistant can not only give you an opportunity to find that balance, but increase your productivity at the same time.
How will you know it’s time to hire an assistant? There are three qualifiers we look for before making a hire:
1. Your transaction count: If you’re looking to do 25 or more transactions, your count is probably at or over capacity.
2. Your income: If you’re in the $4.5 million to $6 million annual production range, it might equate to about $130,000 to $150,000 GCI. If you’re at that level or more, you should consider hiring an assistant because you likely have the financial capacity.
3. Your savings: The conservative in me thinks it’s important to have an emergency fund. If you have between three and six months of an assistant’s potential income saved in a separate account, then you have the financial reserves to be able to afford an assistant. That way, if you have a slow period, you’ll have a bucket of reserves you can pull from without getting too stressed. We all know we can have slow times of a month or two at a time, so this is really valuable to have.
“Your transaction count can be a good indicator that it’s time to hire an assistant.”
If any or all three of these qualifiers relate to you, it might be time to really think about whether you should hire an assistant. I can say with certainty that every time we’ve hired an assistant or agent to help us grow our business, we’ve never regretted it.
If you’d like to discuss these qualifiers further, I’d love to sit down and speak with you about your best course of action. Just give me a call or send me an email and we’ll talk soon