The following calculations are to help you stay on track for the rest of the year with sales and commissions.
Take just a few minutes and complete this for a successful end of year.
If you intend to make $80,000 this year, do the following:
- I plan to work 50 weeks this year.
- I plan to work 5 days per week.
- I plan to work 8 hrs. Per day.
Now do the following:
50 weeks x 5 days x 8 hrs. = 2,000 hrs. Of work for the year
$80,000 / 2,000 hours = $40 per hour is what your time is worth. Therefore, each day every hour you are worth $40 every hour.
- If you intend to make $__________ this year, do the following:
- I plan to work ______ weeks this year.
- I plan to work ___ hrs. Per day.
- ____ weeks x __ days x __hrs. = _____ hrs of work for the year
- $________ / ________ hours = $_____ per hour is what your time is worth.
- Therefore, each day, every hour, I am worth $_____.
- Am I making good time decisions with my hours?
- Do You Know How to Goal Set for Revenue?
If your goal was to have a $1,000,000 month in production or approximately $15,000 in sales commission for the month, do you know how many houses in your price range you must close for the month?
If the medium price in your area is $165,000 and you generally co-op with another company and your estimated commission is around $2,475 from each sale then take $15,000 / $2,475 = 6 houses must be sold whether you are the listing agent or selling agent. If you receive both sides of the commission because you sold your own listing, then you would need to only sell 3 houses.
Rita Santamaria is the owner of Champions School of Real Estate. www.ChampionsSchool.com