#RealEstate #RealEstateAgent #Commission
This video is about how to manage your money and your commission checks, and how efficient money management will make you get the best out of each commission check, What to do with your real estate commission? How to budget and spend
And the mistakes that you should avoid at the beginning of your real estate career.
The first money management tip is deducting taxes immediately.
Put aside 25% – 30% of your commission checks for taxes so you won’t find yourself in debt by the end of the year.
You can use a separate bank account to have better money management.
2:38 Cut it in half.
You need to build discipline towards money,
Your expenses should not be more than 50% of the money that you make,
It doesn’t matter if it’s a small sales commission or a big commission check.
If you can’t manage 10K you won’t be able to manage 100K.
A great money management tip is to invest 10% of your money.
It could be an investment in your business or a long-term savings account.
You can also invest in real estate software that can make your job easier and create more sales.
You always need to keep 10% of your money for emergencies, as you don’t know what’s going to happen, keeping 10% aside will be your safety net.
Have 10% for doing what you love.
And also, this is part of your discipline as you will have a specific budget to spend.
Money management is a discipline that moves you every day toward your goals, so follow these tips, and you will get the best out of your income and sales commission.
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If you are a real estate agent and would like to partner with me at eXp Realty, go to https://www.partnerwithteambc.com. Watch the video and schedule a call with me.
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