Industry News

Your time is worth nothing until you close

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

How much is your time worth? It's a common real estate industry debate between brokers and agents and daily water-cooler fodder. Agents are forever doing the math -- calculating their hourly wage per transaction versus what they think they should have gotten paid. You've done it, haven't you? Reached for the calculator and tallied up your efforts for one weekend of work: 25 hours of home touring2 lunches @ $15 per person ($75 including tip)5 coffees at Starbucks ($35)Gas (1.5 tanks) Oh! But you didn't count the hours you just put into those three listing presentations on Sunday afternoon! Those count too, y'know: Binders, pens, color brochures and the full-bleed CMA in a leather portfolio, a take-home DVD on what an awesome agent you are,  plus a good wax job on the car. ... All those calculations add up to a little bit of frustration, don't they? Maybe we should be charging hourly! Or, at the very least, per service or transaction. Maybe then our clien...