Takeaways:

  • Your bills don’t change depending on market conditions — so why should your income?
  • The “magic number formula” can help you smooth out income unpredictability so you’re not left scrambling at the end of the month.
  • Your real estate magic number is the number of listings that you need to have at all times to maintain a stable, consistent level of income.

Tired of the uncertainty that comes with selling real estate? Sick of living the “feast or famine” lifestyle? If so, you’re not alone — a common agent complaint is the unpredictability of selling in most markets.

Your bills don’t change depending on market conditions — so why should your income? Wouldn’t it be nice to have a way to “smooth out” that unpredictability a bit, and maybe a way to calculate what you should be doing in order to reach your monthly goals?

This is where the “Magic Number Formula” comes into play. This is something that Julie and I developed to help you meet your monthly income goals in a stable, predictable way, so that you’re not left scrambling at the end of the month trying to make ends meet.

Instead of basing your future income on guesswork, we created this simple tool to help you calculate where you’re at, where you’ll be and what you should be doing to get there.

Simply put, your real estate magic number is the number of listings that you need to have at all times to maintain a stable, consistent level of income. The idea itself is pretty basic — you build up a pool of active listings, and once that’s done, you only have to work to replace them as they sell.

The complex part is determining what your “magic number” of listings needs to be — and that’s what we’re discussing in today’s show.

 

Subscribe to Tim and Julie Harris’ podcast on iTunes.

Tim and Julie Harris have over 20 years’ experience in real estate. Learn more about their real estate coaching and training programs at timandjulieharris.com, or schedule a free coaching call with them at freecoachingcallsforagents.com.

Email Tim Harris.

Show Comments Hide Comments

Comments

Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
By submitting your email address, you agree to receive marketing emails from Inman.
Success!
Thank you for subscribing to Morning Headlines.
Back to top
The best event in real estate kicks off next week! Tickets are selling quickly.Register Now×
Limited time: Get 30 days of Inman Select for $5.SUBSCRIBE×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription