How much do you think you could charge each hour?
Therapists charge in $100-$200 range – Attorneys $200-$400+ – $7.25 for minimum wage.
Do the Math!
How many hours do you work each month, and what’s your average Gross income each month? Divide income by number of hours.
In the simple world, you can increase your rate of pay simply by becoming more efficient whereby you work fewer hours and make the same income.
Seth Godin wrote an interesting blurb about this here When to charge by the hour.
We REALTORS charge “Contingency fee by the “Project.”
Some deals take MANY hours while others may take very few . . .
So . . . for the ones that take many hours, the hourly rate might be below minimum wage . . . while those easy deals could be in the $500-$1,000/hr range
the wildcard is that we might invest many hours with no commission whatsoever because the deal crashes at which point we start the clock over again.
To some degree, without ample leads in the pipeline, most REALTORS are playing a perpetual game of Russian roulette with their finances.
Most everything can be fixed with volume of leads.
Sufficient volume of leads only shows up with a persistent and consistent habit of lead generation.
With plenty of leads . . . the hourly rate thing becomes a moot point.