Creating a Path to a Six Figure Net Income for Your Agents

I promise you this is so far from anything that you've ever been to. And now this is a short module I do on value based commission splits, your path to a six figure net income. So let me helicopter up, as I like to say on this one for just a second. I've heard Lars really unpacked this really well many a times, especially around commission splits and questions. Again, these are people that you're on board, they're in fast start. You've shared the basic commission splits with them so they know where you're coming from. But I like this slide a lot because it takes the mystery out of exactly what you're going to get paid on a per deal basis. I always start off on this by talking through how important it is to look at the bigger picture, meaning how much you actually end up making at the end of the year versus a specific percentage. As we all know, so many people get focused on a higher commission split and that is just craziness because there are so many people in our industry that are out there on maybe higher commission split or 100% commission split or whatever, but they're not making a six figure income. And so this really lays out in a very specific way obviously your path, right, A new agent's path to a six figure net income. And when explained that way, an opportunity to go out and make 100 plus thousand dollars once they get a mature business up and going, that's just a significant opportunity. I mean that puts them in the what top one, one and a half percent of wage earners in America when you're making a six figure income. And that's exactly the way, you know, I communicate it to them. And so when people really understand that, and I just had this conversation last week with, with my new two new agents that are in fast start on this slide and they're just, it was just so great to see their understanding of it and their buy in of it and not have the, not have some sideways view of commission splits or something like that, that they really see the bigger picture of the opportunity to go out and earn 65, 75, 80,000 in their first year and then with a mature business to really go out and get over $100,000 in that second year. So very, very powerful, powerful slide. And so the way I break it, it's broken down right there for you with an average sales price. And again this is where it's so important I think for each of you to go in and customize this fast start. And if your average sales price is different than the 250 to make sure you're getting your numbers in there, your average sales price is what I mean. But to show agents what they're going to make on an average sales price, to show that transaction fee, to show administration fees, things like that, and to show them a net income per sale by type of transaction. Right. Whether that's agent generated through their sphere of influence through their network, whether that's the team, or whether that's maybe a lead from an ISA or a gimme on the far right, they can see exactly what it looks like on a per deal basis on how it's broken down. I think it's critically important when new people get that first pay stub, right. They get paid on that first deal, that there's absolutely no surprises. No surprises. I can't reiterate that enough. If you've got people that are like, what the expectation that was set up front about money and compensation and it's slightly different at payday, there's all kinds of problems around that. And so that's why this slide is so, so important. So then team expectation, once they get up and going right in that second year, or they bump up to three a month, and then the opportunity beyond that is to get well over $100,000 in income, which is again, just fantastic opportunity that's out there in front of them. So again, I don't want to belabor this, but it's a really good slide of setting up a clear expectation around income potential that's out there for the agents and then there's no questions around it.