When you hire a buyer’s agent, your workload increases and your hourly rate decreases. Here’s why:

Increased workload: When you bring on a buyer’s agent, the amount of work you do increases. Between hiring, onboarding, training, shadowing, problem resolution and lead generation...you’re putting in extra time to make sales happen. In addition to that, you still have to do your own deals to keep money coming in, but it’s hard to keep that up on a consistent basis.

Decreased hourly rate (and even your income): The tough news is that as you take time away from your production and put it into helping your buyer’s agents. You’re putting in more time, spending more money on your business and leads. But now, you’re getting 50% of the income from the deals you’re working with your buyer agents. This is not a bad thing when you have other staff to help with administrative work and lead generation to keep your pipeline full (think Inside Sales Agent (ISA); it can be a beating when you don’t.

By hiring an administrative assistant first, you get all of the non-dollar-producing work off your plate. You free yourself from the tasks that need to get done — listing management, transaction management, customer service, other paperwork, faxing, bank deposits, etc. — and give yourself to focus more time on generating leads and converting them into sales.

The ultimate benefit is that you can make more money, in a shorter period of time, that puts you in position to do bigger and better things with your business...including making hire number two.

One your administrative assistant in place and your sales are coming in at a clip of four to five deals per month, you’re in great shape to make your second hire.

And no, it’s not a buyer’s agent. Remember, you’ve only relieved yourself of administrative duties in your business. You still need to sell homes and bring revenue through the door. Hiring a buyer agent now would still cut into your time and earning power that could — and likely would — stall and/or halt the growth of your business for a while.

Instead, it’s time to hire an ISA. 

The job of inside sales, while important and key to the success of your business, is still a job that you would hand over to someone else instead of continuing to do yourself. 

This person will free you of all the activities with finding good opportunities and nurturing them until they are ready to sell.

This solution puts you in position to focus solely on helping people buy and sell houses...and helping even more of them do it because that’s the main thing you now have to do in your business.

What’s best is that you now have more time and energy to hire buyer’s agents and do a great job in putting them in position to succeed.

Because all the administrative and lead generation duties are now being handled by your administrative assistant and ISA respectively, you have the time to work with and train your agents without worrying that your customer service and lead generation activities are going to suffer.

It seems counterintuitive, I get it. Working with buyers takes a lot of time and can be a huge drain on your energy. Why not get that off your plate next?

It’s simple, the amount of effort and time you would put into transferring your systems, knowledge and skills to to hiring buyer’s agents — in addition to tall the work you’ll put into hiring and onboarding them — could impact your income significantly.