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Have you considered hiring a showing agent to give you more leverage with your real estate business?
I get it—once your real estate career starts picking up, it can feel like you never have enough time. An easy way to buy back some time is by working with a showing agent. This allows you to spend all the time you would have spent on showings, on money-making activities instead. It’s a great way to gain leverage, and I recommend it to agents when they’re first feeling overwhelmed or are running into time conflicts.
However, working with a showing agent raises an obvious question: How should youpay them? Here are three tips to make sure you’re paying your showing agent correctly and getting the most out of your investment:
1. How to find your showing agent. You might have a newer agent in your office, eager to gain experience and make a little extra cash. All agents need to pay their bills, and newer agents are looking for ways to cover their expenses. It’s a win-win and you free up time to spend on more important activities.
2. Pay them extra for the first home. When you find a good candidate, offer them extra money for their first home they show. This first job will double as their “audition.” If they do a good job, they’ll earn the right to work with you on more homes in the future. The higher rate on the first-showing will also help you attract the highest-quality candidates possible for the position.
3. Pay in cash upfront per home. This is the best and simplest way to pay your showing agents. By paying them upfront, you make sure that you’re only paying for work done. Any questions are directed back to you. Plus, you can avoid any additional complications or payment expectations beyond that if a buyer decides to write a contract or cancels a deal and the showing agent hasn’t been paid yet.
At the end of the day, hiring a showing agent is all about giving yourself more leverage to grow your business. If you’re looking to take an even bigger leap, please call or email our team. We have the training and resources you need, to focus your time on money-making activities.
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