A wise man told me that the only way to create true wealth is to have assets that make you money without working on them. This is very true and sometimes obvious. In the real estate sales business, it seems like this is impossible as we spend our time finding the next buyer or seller. When we close them (and hopefully we can close more then we lose) we are off the next one. As real estate agents we are selling our time, and up until now, we have never had the opportunity to develop income that did not require our time.
Sellstate has changed this by giving our agents the opportunity to build this sort of wealth through our Agent Asset Development (AAD) program. Sellstate agents can earn 5% of any agent’s gross commission just by getting them to join a Sellstate office. I have a simple business plan that can put money in your pocket and develop this type of revenue without cutting into your sales. Follow me for a moment and see if a light goes on.
As a real estate agent we know how hard we work to close a buyer or even all the work it takes to find listings and close them. Now imagine if you take 10% of your time and prospect for agents that will provide you a continuous income for possibly years. Take 4 hours a week and actually focus them on hiring a new real estate agent. Go to open houses, functions at the real estate board, Women’s Council of Realtors, and other real estate functions.
“If you hired one a month that had an average income of say $50,000/year you would have 12 agents paying you $30,000 per year without ever having to get out of bed.”
Pick up the phone and call productive real estate agents you may or may not know. I am confident that if you spent 16 hours a month doing actual prospecting to hire an agent, you would get at least one. If you hired one a month that had an average income of say $50,000/year you would have 12 agents paying you $30,000 per year without ever having to get out of bed.
Sometimes we have great opportunities right in front of us and all we have to do is recognize them and take action steps to make it happen. This will not happen on its own but I am sure that, for most of you, by investing a small amount of time into building a strong AAD program, it will pay dividends.
With most business ventures, you have to invest both time and money to earn this type of income. With your AAD you need only invest time, which makes it a no risk investment. Also, there’s something to be said for having a diversified income stream. In the event something happens and you can’t sell real estate, you still have income to cover your bills. I have seen many Sellstate agents have success with our AAD program, and I hope to see you achieve the same and much more.
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