Real Estate Team OSTap into the collective wisdom of our podcast guests. Get answers to your questions. Click "Voice" to talk to Team Bot!

If you know you need to recruit but you’re not sure about your profit margins? That’s not good 😳

Name: If you know you need to recruit but you’re not sure about your profit margins? That’s not good 😳
Uploaded: 2024-02-02T03:10:15+00:00
Duration: 49 s
Channel: Real Estate Team OS
Description: A short YouTube video (Real Estate Team OS) giving blunt, practical financial advice for real estate brokerages about recruiting and growth. The speaker…

2 Feb 2024 · 1 min

Watch on YouTube

0:49

A short YouTube video (Real Estate Team OS) giving blunt, practical financial advice for real estate brokerages about recruiting and growth. The speaker emphasizes the need to understand profit margins and cost of goods sold before increasing agent pay or recruiting, recommends a ~20% profit margin, warns that expenses near 95% of net are unsustainable, and states that growth (more agents or more houses sold) requires spending money and clear dollars-and-cents planning.

Chapters

Any of these discussions are a mechanism of. You're not fucking recruiting, right? If you want to pay agents in your organization more money, you better be bringing in twice as many new agents. What's your profit margin? What's your cost of goods sold? You got to get really clear on that because all the numbers add up, right? Like, your expenses cannot be 95% of what you're of what your net is. And then you want a 20%. You want a 20% profit margin. It Unless you sell more houses. Go sell more houses, then sound like you're going to need more agents. So that's all a mechanism of the recruiting not happening. That's how I feel. Like, it just comes down to dollars and cents, man. If you want massive growth, you're going to spend money on it. Do you have the money.