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A few small tweaks to the way you do things can double what you're earning as a real estate agent. I'm going to break down five simple ways that you can make more money in the same amount of time that you're working or even working less. Let's get into it right now. The Massive Agent podcast with lead generation tips and strategies to get you more leads and sell more homes. I love to buy houses. I like to sell houses. It takes brass balls to sell real estate. Wait a minute. The leads are weak. You're weak. Had better. Better. Oh, have I got your attention Now? Here's your host, Dustin Brome. What is up, guys? Welcome to episode 406 of the Massive Agent podcast. I am your host, Dustin Brome, here in Salt Lake City, Utah. One hell of an episode for you today. I'm going to show you how to make more money in less time or at. At. At a minimum. Okay? Worst case scenario, make more money in the same amount of time that you're already working. Does that sound. Does that sound nice? I'm going to break this down for you in five simple steps. There's five different levers you can pull, some tweaks that you can make. But I real quick, Salt Lake City. I mentioned I'm in Salt Lake City, which, by the way, is a beautiful city, especially this time of year. Monday, October 6th. If you are an agent in Utah, anywhere in drivable distance from Salt Lake, get your butt to downtown Salt Lake City. October 6th. I am speaking at an event called Further Together. There's a series of 30 of these across the country in 30 days, and Salt Lake has our own October 6th. And I will be there. Go to further togetherslc.com to get details. Check out the lineup of the other speakers. An incredible lineup. The leader of the number one team at Real in Canada is flying in to do a training. Paige Steckling, Tony Acosta, mia, Willie, if you follow her on Social, incredible lineup. And myself, of course, be there if you're an agent in Utah. Further together SLC.com this coming Monday. Don't delay or you will be a fool for delaying. There you go. There's. Wow, that was. That was a little aggressive. Let's jump into how to make more money in less time, shall we? So this starts. It starts with a mindset shift. Okay? First off, you have to stop thinking that in order to make more money, you need to work more. That's not necessarily true. And it's a horrible mindset to have sometimes. Look, just being Realistic. Sometimes it works out that way, at least in a. In a short period of time until you build something, until you, like, implement a system. Sometimes it takes a little bit of extra time to build that thing and get it set up the right way. But in general, it's an awful mindset to think that, oh, if I'm going to make more money, I just need to work more. It doesn't have to be that way. So instead, think that if you build better leverage, you'll earn more in the hours that you work. So some of you guys have seen the videos that I've put on Instagram and TikTok lately, showing you how to find out how much you earn per hour. Now, you know, as an agent, we don't get paid by the hour, so it doesn't matter in that context. It matters so that you can know if you're being efficient with your time and if you're being foolish with what you're spending your time on. If you know that you're earning $60 per hour, then it doesn't make a lot of sense to do stuff that you could hire out for $20 an hour. Right? And also it helps if you're like, well, I'm earning 60 bucks an hour. What if I could earn a bunch more money in that same time? And your earnings per hour go up to 70, $80 an hour or more. It helps to know how much you are earning per hour. So it starts with the mindset shift. Get rid of this thought that more hours worked equals more income. That is not always the case, and that is a terrible mindset to have. You want to be the most effective in the amount of time that you work. That's the goal. So let's talk about these tactical ways, these five ways that you can boost your hourly earnings. Okay, we're not paid for hour, but per hour, but you get what I'm saying. Here's some tactical ways to increase the amount of money you make in the time that you're spending working. All right, so number one, charge more for your services. This is. This is really simple. If you, as a buyer's agent charge 2%, well, you could charge two and a half. You could charge three. You could charge four. You could charge whatever you want. So whatever you currently charge to list a house or for your. Your. As a buyer's agent, you could charge more. You could increase that. So raising your commission percentage, you know, increases the amount you earn per hour. You, you, you. Let's say you sell 30 homes this year, and you're earning an extra half a percent commission on those homes. You're going to make a lot more money in that. But you're doing the same amount of work, the exact same amount of work. Whether you're earning 2%, two and a half, 3% for three and a half, whatever, you're, you're spending the same amount of time selling that house, working with those buyers or whatever. So raise the commission percentage. You could even add, you could even add a fee, an admin fee, a marketing fee, you know, a premium vip, VIP package fee. There's all sorts of these things and I've done episodes about those in the past. I'm not going to dive too deep on that. But I just want you to get this concept for number one here to earn more money, to increase the amount of money you, you make in the hours you work. You could charge more. All right, Raise your prices, right? It's not more complicated than that. Number two, sell more expensive homes. If you're going to list a house and sell it, whether that's a starter home or, you know, for a starter home for 300 grand or, you know, a $600,000 home that has six bedrooms and, you know, 4,000 square feet or whatever, you're going to be spending the same amount of time to sell the house, whether it's a cheap house or an expensive house. So sell more expensive houses. And you. I know, I know. Unfortunately, a lot of you run into this mental mind thing that happens and you're like, well, I can't do that. And for some reason you don't think that you have these limiting beliefs where you don't think that you're worthy or capable of selling more expensive homes. But a lot of you that have been in the business for a while, you've watched as you've slowly, naturally progressed from starter homes for first time buyers into first time sellers. And then they get into a little bit bigger homes and bigger price ranges and pretty soon you're selling more expensive homes years later, naturally, because that's the path that your clients have gone on, right? They start with a starter home and they end up with, you know, the big house. So you sell more expensive homes. If you're currently marketing and trying to get clients who are first time home buyers, starter homes, why don't you just, instead of that neighborhood where the average home is 300k, you start to advertise the market in the other neighborhood half a mile away where homes are 600k, just sell more expensive homes. You can charge more, you can sell more expensive homes. It, it doesn't have to be more complicated than that. Same effort, bigger paycheck. And I'm not even talking about getting into, into luxury real estate. Like luxury home sales is a, it's not a different animal. It's not a different animal, but it kind of is. In, in some ways. I'm not even talking about that. But if you're selling homes at the median home price, sell homes that are, you know, one and a half times the median home price. Just like pick a nicer neighborhood and just start marketing there. Start to go network where the people who buy and sell those homes are go like this is not rocket science, okay? And I, I know that I'm, I probably sound like I'm being kind of a smart ass about it, but we as agents so often overthink the out of things and when you do that, you overlook some of the easiest, most simple solutions that you could quickly start doing today. Stop marketing in that neighborhood, start marketing in the other neighborhood. Like go from this neighborhood here on the left to that neighborhood on the right where the homes are more expensive and you will make more money in the same amount of effort. Number three, Work fewer hours by being intentional. So let's say you're selling 30 homes and they're 400 grand average sale price. That's what you're going to sell, that's what you sold last year, that's what you're going to sell this year, and that's what you sell. Well, what if Instead of working 60 hours a week, you work 50 hours a week? You're making more per hour, you're making more money in less time. So work fewer hours by being intentional. So you can trim 5 to 10 hours a week of off of off of the time that you're spending five to 10 wasted hours every week is scrolling the MLS, scrolling social media, busy work paperwork. Like all this stuff. Like get all the administrative stuff over to a transaction coordinator or an administrative assistant. Do that as quickly as you possibly can. You can all get a transaction coordinator now because you don't pay them until the home sells and they get paid out of the proceeds and it's a few hundred dollars and they can take a ton of that busy work off your plate. So you can focus on other stuff, you know, marketing, lead generation, servicing clients, or even just working fewer hours. So block time for money making activities only lead generation, marketing appointments, content making offers, I guess. But you don't necessarily have to be the one writing the offers when you get to A certain point, you can have someone on your team doing that. More efficiency equals more more income per hour worked. So number three was work fewer hours by being intentional and cut out some of the waste. Number four, hire out the $20 an hour tasks. Canva. Like if you're spending an hour putting together a canva graphic, stop it. Just hire someone on fiverr for 5, 10, 15 bucks. Have them do it. It takes you 10 minutes to tell them what to do. They spit it out. You've saved yourself 50 minutes. And you know if you're. If you've done the math and you know that you're worth 60 bucks an hour or eight, $75 an hour, why are you spending an hour doing a canva graphic? It doesn't make sense. Data entry, transaction coordination, paperwork, submitting stuff, uploading it here, uploading it there. It makes no sense. If you're higher out the $20 tasks, just hire that stuff out. The, the easiest thing is to hire a transaction coordinator to take the, the paperwork. The administrative stuff that you don't personally need to do to. They'll take it off of your plate. Costs a few hundred dollars per transaction. It comes out of the proceeds of the sale. So it's not an expense up front. So if you're like, oh, I don't have it, you know, I'm broke, I can't afford it. Well, yes you can, because you're not paying them out of pocket up front. It's coming out of the proceeds. And if it saves you three hours of work throughout a transaction, I'd say that's worth it. If it saves. Sometimes it saves you more and sometimes it's not even about how much, like how much literal time is saved. It's you not having to think about certain things, which allows you to then think about actually building the business and growth and creating content and marketing instead of all the minutiae and bullshit that agents have to deal with all the time. So number four is hire out those cheap tasks. The other. Because if, if they're, if you're doing something that, like, you know, driving across town to pick up a sign or to install a sign or to put up a key box or to take a key box down. If you're driving across town and back just to do that, when someone else would have done it for 15 or 20 bucks, then you are working for 15 or 20 bucks. So if you don't want to just be working for 15 or 20 bucks an hour, then stop it and hire someone else. Plus, it gives employment. It Gives income. It gives an opportunity to someone else so you can actually make an impact on others. You can actually, you know, stimulate the local economy by giving some work to some other people so that they can support their families, they can make a living. Number five, add additional income streams. I'd say 90% of agents, the only income that you have is commission. And if there's no home selling or there's a big gap in between when the homes sell, you're. You don't have any income because that's all you've got. So additional income streams you can add. If you are giving out business to roofers, contractors, landscapers, plumbers, painters, whoever, and you're just handing them business. Here you go, here's a $15,000 roof replacement. Here you go, here's a $20,000 roof replacement. Here you Go, here's a $6,000 painting job. What if you said, hey, I. I will pass you business, But I want 20%, whatever that number is, maybe it's. Maybe it's a flat fee, maybe it's 5%, maybe it's 10, I don't know. But set up a referral agreement to where, if you're just handing them this client worth potentially tens of thousands of dollars, that you get a little something in return. And what's cool about that is it incentivizes you to keep bringing them more business so they're getting business. Just like if I came to you and I said, hey, I have a listing for you. I'm only asking 20% referral fee. You jump at it, you'd be like, hell, yes, I gladly give you 20% once this deal closes for that client. Well, do you think real estate agents are the only profession where that concept still makes sense? Of course. Not every business. Every business who's looking for new clients will pay a referral fee. You just have to ask them. You have to negotiate it, you have to set it up, and it doesn't have to be super complicated. Make sure that you're recommending service providers, though, that you have these arrangements with great service providers, because if they suck, if they do not do a great job, you're going to hurt your reputation. You're going to piss off your clients, you're going to piss off your people, all to get a paycheck. That's not good. So make sure that you set up these. These referral agreements with vendors who you personally recommend, love, respect, and use. Okay? Additional income streams, revenue share. If you're with a brokerage that offers a share of the revenue when you help other agents come to the brokerage that's another way to supplement your commission income. So my business model and the brokerage that I'm with, I'm with real revenue share can become a major full time income over time. Like I, I have, there's some agents that I'm partnered with and they had their home at a minimum flooded three or four times from like three or three or four, three or four different hurricanes. Their home got destroyed, flooded. Like major, major problems with their home from it was three or four hurricanes in a row. And as you can imagine that's very expensive. It's very disruptive to their business as well. And they told me there was a, there was one month where they didn't know how they were going to pay their mortgage. They were stressing, stressing out about that of course as they would. And then they had a deposit in their account. They had completely forgotten that because they had brought a few agents to Real and those agents sold some homes that the couple that I'm talking about, that revenue share was deposited on the 15th of the month for, for other agents selling homes. Real was just sharing their, a little cut of their proceeds and that saved them. They were able to pay their mortgage because of that revenue share and because they were so busy with all the renovations and the you know, remediation of mold and all the. As I could only imagine they completely forgot that their revenue shares coming in. And then it came, it showed up, boom, a big deposit. It was thousands and thousands of dollars and they were able to pay their mortgage from it. I, I see agents all the time that another 600amonth, another 1500 dollars a month. There's an agent I talked to the other day in Ohio told me that because he, he brought a couple people and they brought a couple people to our brokerage. He made $7,000 last month and he wasn't even like not with a full time effort but just he's like hey, I love this place, you should come. I love this place. I think you'd be a good fit for it. You might love it too. And some agents joined and they earn some revenue share. So Real's not the only brokerage that does it. Exp does LPT and a few others. So if you're at a brokerage that offers revenue share that is a great way to supplement your commission. And it's a lot more passive because you're not the one doing the transactions. You're. You are absolutely bringing agents over to your brokerage and then supporting Them and plugging them in and you know, so it's not completely passive. You still have to support those agents and be a decent person because you're responsible for them. But when they sell the houses, you get a piece of the revenue. That's incredible. So even if you're in a dry spell of six months, you don't have anything closing for six months. But you've brought some agents who are selling homes, you still have an income. There's, there's a lot of these different things you can recommend products with affiliate marketing, lots of different ways to bring in additional revenue. As an agent, I highly recommend it. You could sell ad space on your website. I mean if, if you're doing, if you're getting decent traffic to your website, for example, you can sell ad spots, you can sell ad space on your websites. You could, if you have an email newsletter that has a good distribution and good opens and all that stuff, you can sell ad space within your email newsletter. There's all sorts of things you can do to bring in another 500,000, $2,000 a month in revenue. That absolutely helps to. This is a hard real estate market. I know a lot of agents are, are hurting a lot, a lot of agents are struggling. And if you have that extra cushion that, that safety net of additional income streams that could be the difference between you, you know, surviving and thriving and perhaps having to leave the industry. Unfortunately, I know kind of want, kind of bummer. And those are, those are the five things. There's more of course, but these are the simple ways to increase how much you make per hour. Charge more for your services. Sell more expensive homes. Work fewer hours by being intentional. Hire out the 20 an hour tasks like if you're driving across town to, to pick up a key box, stop it. Just pay someone 15 or 20 bucks to do it and they can make a little cash and you're saving that time where you can actually work on something that moves the needle. Some money making activities. Number five, add additional income streams to your business title, mortgage. There's all sorts of different ways. Real estate investing, referral fees, just giving referrals to other agents. And then they, if you refer a deal to an agent in Florida when they sell it and they send you a check for 3, 500 bucks or whatever it is, that's additional revenue that was not tied to your, the amount of time that you are working. These are all available now. Like I, I sometimes when I hear an agent, they're like, oh my gosh, it's costing me so much. And you know, I'm in this dry spell. I'm like, well, why, why haven't you pulled this lever? Why haven't you pulled this one? They're like, oh my gosh, I didn't even think about it. Well, that's why I'm doing this episode. So you can freaking think about it and take action and implement and do. If you need to change to a different brokerage to take advantage of some of these things, then do that, if that makes sense, if that's even what you want to do. But sometimes you're going to have to make moves, sometimes you're going to have to make changes, sometimes you're going to have to change. You can't just sit there and expect that the world changes around you. You've got to make some freaking changes for yourself. There's nothing I can do about that for you. If you want something to change, if you want, you know, if you want your business to have an additional income stream, you're gonna have to reach out and grab it. It's not just gonna come to you. So you don't need more hours. You don't necessarily need to work more hours. You just need to work smarter. You need more leverage. All right, so get to work. I hope this was helpful. I hope if you're in Utah, I see you at the Further Together event downtown on Monday, October 6th. Further togethertogether slc.com and before we wrap, what am I doing? There we go. Like I have my notes and I don't know where they went. There we go. Keeping Current Matters is a partner of ours. They've been supporting the show for a couple years now. Be the advisor your clients trust with keeping Current Matters. KCM gives you easy to understand market insights, ready to share graphics and scripts to keep you looking like a pro in front of your clients and on social media. Try KCM for free over at try kcm.com Bam&BAM X if you haven't seen the new Bam X the new. If you haven't visually seen everything that's included the, the, the content that they send you on a weekly basis, the courses that are inside this thing, the community that they've built, you owe your. You owe it to yourself to spend three minutes going to massive agents society.com bamx push play on the video. So go to massive agentsociety.com bamx when the page loads, click play on the video and just see what's included. Imagine having to copy for every email marketing for. Sorry. For every marketing email scripts and hooks for every social post and video delivered into your inbox each week. Level up your content and your business with bamex hyperlocal, data driven social media templates delivered weekly weekly video scripts, blogs and email content courses, masterminds and a network of other hungry, aggressive, ambitious agents to partner with. Go to massive agentsociety.com BAMX and check it out. Thank you so much for listening. I will see you guys next week. Take care.