When You're Stuck...

Are you a slave to your job?

Alarm Clock

Are you overworked and exhausted?

Exhaustion

Do you just feel stuck?

Stuck

Do you cringe at the costs you're paying for childcare while you're at work? Or are you intimidated by the prospect of returning to work and the associated childcare costs?

Childcare

Does your debt keep piling-up with no end in sight?

Debt

I remember feeling all of those things.

My earning potential was limited and yet my debt was this massive obstacle staring  me in the face every moment of every day, and I had no hope of paying it off without a corresponding massive change in my income.

It was a vicious cycle. No matter how many extra shifts I took; no matter how many days I didn't spend one penny more than required to keep a roof over our heads and food in our stomachs; I couldn't get ahead.

It was demoralizing. And it was frustrating. Because I knew that I was smart; I knew that I was a hard-worker; and I was motivated to build a life I could be proud of. I just didn't know how to do it. That

stuck

feeling is horrible.

Work Smarter, Not Harder.

I realized I needed a career--not just a job. I searched online but every position that sounded perfect for me required the college degree that I didn't have. And here's the thing about college degrees--they aren't magic. You can feel stuck and broke, overworked and dissatisfied with a degree too. So degree or not, this applies to you.

What I wanted was to be a in position where there were no limitations. Where whether or not I succeeded and to what extent was totally up to me and how

hard

smart I was willing to work. Where the rules that had governed how I thought about work went out the window, and I could, for once in my life, take a chance on

ME

.

All that to say, I've been where you are. And I can show you the blueprint for how get from where you are to where you want to be. Wherever that is! Your real estate career may not look exactly like mine. That's okay. That's good, actually. You have probably spent many years structuring your job/career based on what someone else (your boss, maybe) wants or needs it to be. Or having a recruiter or interviewer decide whether you're qualified enough for the job you want.

That can stop now. Be your own boss. Own your own business. And reach your potential.

We should meet! Email or call me to set up a time to chat.

Where Do You Belong?

I’ve been with Keller Williams for my entire real estate career and I cannot imagine working anywhere else! For a number of reasons—the interdependent business model, the continuing education/support/coaching opportunities, and technology resources (the list goes on!)—I truly believe it is the best brokerage, bar none. That’s why I started this website and why I serve in leadership roles for the company. But…

There are other solid brokerages out there that might be a better fit depending upon your personality, goals, working style or preferred business model.

No matter where you ultimately decide to put your talents to work, make sure you’ve asked the questions (and received the answers) you need to make an informed decision. To help you a bit with that, I’ll share the 5 questions I’d encourage you to ask real estate brokerages before you decide which one is right for you.

What business model does their company employ? Is it an independent model in which you are completely on your own as an agent—essentially owning your own business with all the risks and rewards that can entail?

Is it a dependent model, in which you are an employee subject to their rules, regulations and job descriptions?

Or is it an interdependent model (Keller Williams fits into this model)? As you may have guessed, an interdependent model combines many of the best parts about independent and dependent modes. In this model you get all of the perks that come with a big name brokerage: name/brand recognition, access to technology, educational, coaching, staff and other resources. At the same time, you get to build your own business under the brokerage’s umbrella. You get to set your own goals and build a business that is the size and scope you want.

What are their commission splits and office fees? Do you ever sell enough that you get to keep 100% of your commission? This is a very big deal. You need to know how much of what you bring in is going to go back to the brokerage and for what. And whatever that percentage is, you must decide whether you think it’s a fair tradeoff for the support and resources you’re getting from that company and how it compares to the other brokerages for whom you could work.

At Keller Williams you do get to keep 100% of your commission, once you’ve reached your annual responsibility to the company. As of this writing, once I’ve paid $19,000 to Keller Williams I get to keep 100% of any other commissions I make.

What kind of training is provided and, if so, what does that training cost? You’ll want to know what kinds of educational opportunities exist for you at whatever brokerage you select. And I mean formal, established programs. If you want to move into a leadership role, is there a curriculum you can follow to learn what you need to know to do that? If you want to start investing in properties and being a landlord as part of your business plan, does that brokerage have a program to help you be successful in that venture? Is there a mentoring or coaching program established at that brokerage, in which you could be matched with a more experienced agent who has a career similar to the one you want to pursue for yourself?

Ask to see a list of the educational and coaching programs that brokerage offers and make sure that the things that are of interest to you are available.

What kind of technical support is provided and what does that cost? By tech support, I don’t mean someone who can fix your computer if it breaks, although that is worth knowing too! When I talk about technology in this context, I mean does the brokerage provide you with the following:

• A Website

• Contact Management Database

• A Personal Mobile App

• Listing Syndication (and how many sites?)

• Technology Training

• Marketing Materials

What kind of support/support staff is provided? Does the brokerage have administrative support to offer you? How about transaction coordinators to handle the paperwork and manage the due dates associated with the purchase or sale of a home? If so, how many hours per week will you have access to that support and for how much money? Will they provide you with a computer, a printer, copier or other practical support you need to do your job?

These questions are by no means a comprehensive list of things to ask, but I think they are the five most important ones and a good place to start in drafting your list of questions.

I do office tours regularly for prospective agents (some already licensed and some who are not). If you haven’t taken one already, but would like to come in, ask me some questions and learn more about Keller Williams and careers in real estate, click on the Get Started page and send me a message.

The Thing We're Not Supposed to Talk About...

There's a list of things that we're not supposed to talk about in polite conversation, right? And money is one of them. But sometimes things need to be said and we have to get real and get honest because when we do we can help other people save money or make more of it.

The former is the reason for this post.

When I meet with aspiring agents, or with people who are starting to consider real estate as a career, I share the information that I think is critical for them to know. And some of that is about the costs associated with studying for a license. (There are others associated with actually being an agent, but I'll address those in another post.)

The online course I recommend, and the course we follow in our office when we teach the live version of the class, is Rockwell. It's not cheap. As of this writing, it runs approx. $489 plus tax.

Yeah.

That face you're probably making now is the same expression I see on the faces of many of the people I meet with during career orientations.

And some of them look at other education providers, many of which are less expensive than Rockwell.

So why do I recommend such a relatively expensive study program?

It's really, honestly because I think Rockwell is the best. That's all. The curriculum is comprehensive and strong; you get access to online courses AND textbooks with quizzes and final exams; and their test prep (the CRAM section and 12 sample exams) set you up for success on the real thing like no other system I've reviewed.

I have had students who chose one of the less expensive options succeed on the exam. But more often than not, I'll get an email or call from them because they're frustrated by the material or because they took the licensing exam and failed after weeks or months of studying. They then usually end up paying for the Rockwell courses, so when it's all said and done they've paid the $489 plus another $200-$300 for the other course and a failed licensing exam.

Not a huge savings after all.

Success rate-wise, Rockwell boasts an 86% and 87% first try pass rate on the National and State exams, respectively, in Washington. The average for the others is 58% and 63%, National and State. So, if you're a person who prefers statistics to anecdotal data from an agent and blog writer, that's for you :-)

(By way of a disclaimer, I'm not on Rockwell's payroll, they don't send me free stuff and they have no idea I'm writing this post.)

As always, feel free to leave your comments and questions below or watch my 1+1=4 Math Video here. Thanks and I'll check back in here again soon!

Are You Stuck in This Vicious Cycle?

(This post contains affiliate links.)

What percentage of people in the United States would you guess are living paycheck to paycheck? Are you one of them?  If I told you that 50-percent of us fall into that category, would you believe me?

If you think that's a high estimate, hold on to your hats because the actual number is worse.  

More than three-quarters of workers (78%) who earn less than $100,000 per year, are one unexpected expense away from a big financial mess. I don't know about you, but that number is scary to me. (You can check out the full story here.)

Additionally, and very much relatedly, 71-percent of full-time workers say they have some kind of debt. Of those, 56-percent of them say they don't believe they will ever get out of it. Think about it--if you're living paycheck to paycheck because of debt, and something unexpected comes up, you go into more debt to pay that expense. So, it's kind of a vicious cycle, right?

Consider the emotional toll that belief takes on a person. Working full-time, unable to get ahead financially, operating under the anchor of debt, and believing things will never be any better. What does that do to our collective mental, emotional and spiritual health? The cost of our debt-culture goes beyond a financial one.

Let's talk about the culture of debt while we're at it. It's become more than just acceptable--it's marketed as desirable. Many people get their first credit card offer at 18--I've heard stories of credit card applications being included in freshman move-in packets at colleges! College itself has become synonymous with debt too. Can't afford tuition? Here's a student loan you can spend the rest of your adult life paying off. Want something now, but can't afford it? Why wait? Just fill out this credit application and walk out of the store with it. You deserve it.

We think it's an unavoidable part of adult life, but it doesn't have to be and it really shouldn't be. It is crippling. If you're struggling with debt or just want to learn how to create a budget and make a financial plan you can live with, I cannot recommend Dave Ramsey's books enough. The Total Money Makeover: Classic Edition: A Proven Plan for Financial Fitness is one of my favorites and a good place to start.

Freedom

In contrast to that 78-percent number, only nine-percent of full-time workers earning more than $100,000 per year reported that they struggled to make ends meet.

What does that tell us? Well, it tells me we need an increase in income and a shift to a debt-is-not-okay mindset. And it reinforces for me one of the big reasons why I'm such and advocate for real estate and Keller Williams in particular.

Streams

I’m a self-help junkie and every book I read about entrepreneurship or financial freedom says we should have multiple income streams. That we should be diversifying where our money comes from so that our financial futures are not subject to the whims of one bad boss or the ups and downs of one market. 

If I told you that as a Realtor I have four businesses functioning simultaneously and generating four income streams for me, would that pique your curiosity? The first is the most obvious--I represent buyers and sellers and earn commissions on each transaction I close. Income stream number one.

You might be surprised how many agents don't leverage the other three opportunities: referrals, profit-sharing and investing in real estate. Please don't be one of them! I love talking about possibilities and coaching other agents, so click here and let's schedule a time to meet!

We are a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for us to earn fees by linking to Amazon.com and affiliated sites.

Making Money from Maui (or Wherever You Dream of Going)...

"I do it! I do it!" Do you remember when your kids were at this stage of life? Or maybe they are right now... Anyway, I remember my daughter, Bella, saying, "Bella do it. Bella do it. Bella do it," a lot when she was little. That first flash of independence--of wanting to do everything and wanting to do it now--can be such a moment of bittersweet pride for a parent. But that "I can do it all myself," instinct can be destructive as we transition into our professional lives, especially for us business-owners, can't it?

One of the blessings that being a Realtor has given to me is the freedom and flexibility I've needed as a mom. In fact, one of the reasons I chose this career specifically was because I knew I could structure my day in such a way that I could work while my kids were in school and then be at home when they were.

The reality of this business though is that it can take over your world 24/7 if you let it. It will take up the space it's given, which is why we have to be so careful about setting boundaries where and when we can.

You may be asking whether setting boundaries on your business is also limiting what you can achieve. And the answer is that yes, it probably would, but for leverage.

Many agents function in real estate solo. They've structured their business in such a way that if they themselves are not actively doing something, money is not being made. This is just as limiting as setting boundaries, if you think about it. There's only so much one person can do with the hours in a day. And there's only so much you can do before you burnout.

The shift comes when we embrace the idea of hiring people and establishing systems that allow you to leverage other means of productivity to run your business. In a practical sense, leverage means you could be on the beach in Maui while still making money for your business at home.

Do I have your attention now?

Thought so :-)

When we shift from I do it, to we do it to THEY do it, then you know you've arrived. I took a 2-week honeymoon last year. Two weeks of almost no wi-fi or cell reception and my team had sold 4 homes by the time I got back. It's so important to surround yourself with trustworthy individuals who can cover you when you need it, and systems that would allow anyone to come in and keep things thriving, regardless of your presence.

Here are examples of how to leverage your time and effort, taken from specific things I did in almost exactly the order in which I did them.

Pay for transaction coordination as-needed. Once a sale was under contract, I turned the paperwork over to people in my office who would act as a transaction coordinator for a fee. That freed me up to generate leads and meet with prospective clients.

Hire a part-time (or full-time), licensed executive assistant. Give anything that doesn't require your active involvement to someone else. Scheduling, maintaining your website, ordering office supplies, dealing with vendors, marketing tasks, etc. can all go to a skilled and trained assistant. They can get you involved in a task when you're needed.

Take advantage of automated systems. Keller Williams has tons of systems in place for agents to use, including email campaigns. I enroll everyone in my sphere of influence into one campaign or another. The campaign sends out regular communication to my contacts and reminds me of important follow-up activities. My team and I also create systems, customized to our business. We make everything as simple as we can and follow the procedures we establish. We have procedures for responding to client leads, for developing CMA's, for hosting open houses--you name it, we've probably got a system for it.

Hire other team members as dictated by your business. This may mean brokers, listing coordinators or contractors to help on specific projects that you don't have the expertise to complete efficiently. It doesn't help my business if I spend 100 hours designing a website, when a professional would have done it in 10. Those 100 hours are hours I'm not meeting new business leads, so it's not the highest and best use of my time. Speaking of which...

Find your highest and best use. This will be different for everyone, but for me, my highest and best use is generating client leads. Almost everything else can be delegated to someone else on my team.

iPhone Laptop

Maybe you're a mom like I was, looking for extra income. Or maybe you're not a parent, but are ready for a career change and love the idea of having your own business. Real estate could be the answer! Contact me and let's chat. I'm happy to share my experience with you.