BrokerageIndustry News

Top ways to improve real estate biz in ’07

Technology's the gift that keeps on giving
Published on Dec 22, 2006

It's the holidays and here's my shopping list of items for real estate agents to arm themselves with in 2007 to help reduce business costs, improve time management, boost their brand and increase profitability. Give yourself a paycheck! While many of us are fond of saying that "I'm an independent contractor," making the shift to being an employee may be the smartest thing you can do to build your business. A company called MyBizOffice allows you to shift from independent contractor status to being one of their employees. Why would you want to do that? First, your income becomes W-2 wages; no more tracking expenses, no more estimates, no more late filing fees, no more Schedule C, and a miniscule bill from your CPA. For a fee, they handle all of these details. Second, as one of their employees, you are eligible for medical benefits at a reduced rate. This alone can save you the cost of the fees. Third, you can also set up a profit-sharing, defined-benefit, or other retirement program. Th...

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