Hi, is there any chance that you're looking for a trustworthy editor to create valuable content? I see you're doing an amazing job on your business. If you or someone you know are having any challenges or frustrations with your video editing following feel free to reach out. I am not going to sell you anything, pinky swear! Let's talk soon? Warmly, Mark
Your math is totally wrong here - working backwards as you suggested using your example... 30% Broker split on 180K GCI = 54,000 30% taxes = 54,000 20% expenses = 36,000 180,000 - 144,000 = net of 36,000 only, NOT 100k.
Thank you so much for this! as a new solo agent, I'm doing a lot of the grunt work myself when it comes to educating myself on my goals and prospecting. Going along with you set me up for the future so again, thank you!
@@amandadominguez4286 I dont work for a team. My brokerage is full of resources but because I'm not a art of a team, I dont have the access to all this coaching and mentoring as easily. Thats why Brandon is such a god-send lol
Hi Brandon, I find that a lot of the links in your video description don't work. For example, I clicked on the Brookstone Realtors link and it took me to a page that said "This site is not available at this time"
Hey guys just wanted to clear something up . I also thought the numbers were off BUT as a real estate agent you are SELF EMPLOYED and you are taxed on your NET income not GROSS. The numbers here are correct great job Brandon!
Asking a real estate agent whether you should buy a home right now is like to asking an alcoholic whether they think you should have a drink lol. Homes in my neighborhood that cost around $450k in sales in 2019 are now going for $800 to $950k. Every seller in my neighborhood is currently making a $350k profit. Simply unreal. In all honesty, deflation is what we require. The only other option is for many people to go bankrupt, which would also be bad for the economy. That is the only way to return to normal.
Hi! No disrespect.. but wouldn't you need to take those percentages from your GCI instead of your desired NET? Taxes and broker split come from your Gross Commission. So if you re-ran those same numbers backwards (Let's say your Gross is $180,000 per your example) 30% for taxes on $180,000 comes out to $54,000, not $30,000. So, if you took the entire 80% that you're accounting for it would only leave you a NET of $36,000 on $180,000 GCI. Am I missing something? I'm also not great with math, so I'm mostly just inquiring.
Yes you’re right that’s why we “add” on top on net to build GCI needed. The way to check the math is to take the final GCI, subtract out what you added and you should get the net number…
It's insane he doesn't have 100k subs. To me that means of the ~3M agents in North America, less than 3% are educating themselves. If you aren't watching Brandon and Ricky Caruth, what the hell are ya doing??? Haha
Love the videos been following you for a couple of months now! I saw one of your other videos I guess I have a general question. When prospecting what’s a good strategy for staying top of mind just one email a week or how do you keep prospects warm without over doing it?
Mitch, my suggestion is to send weekly emails that bring value. For instance, market reports that have listing to sold ratios and average days on market. Obviously using similar properties to your prospects. The next week send them information about mortgage rates & the next week send them information about how many people are moving/leaving the area. Mix it up and become the expert in your market.
I schedule a consultation last week and the person who confirmed it didn't show up on the zoom call and didn't text me until after I reached out to him, smh!
It's more like $245k GCI, brokerage takes 30%, leaving you with $171,500. You then pay 30% tax on that amount, leaving you with $120k, minus $20k for expenses (20% of net income) to get your $100k net income. Am I wrong?
Having trouble with the math because it would be $52,000 net and not $100k …….30% of $180,000 is $54,000. If Taxes and broker are the same, then they would add up to $108,000 and then add your $20k in expenses would be $128,000. Then $180,000 minus $128,000 would equal $52,000 🤔
The math is not mathing. Your GCI MUST be higher than 180k in order to make $100k net. GCI will have to be closer to $250k if you're using those % for split, expenses, and taxes.
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Hi, is there any chance that you're looking for a trustworthy editor to create valuable content?
I see you're doing an amazing job on your business. If you or someone you know are having any challenges or frustrations with your video editing following feel free to reach out.
I am not going to sell you anything, pinky swear!
Let's talk soon?
Warmly,
Mark
Dont leave your goals up to chance!!!! Knowing the actions needed is crucial. Then the only question is will you do it...
Your math is totally wrong here - working backwards as you suggested using your example...
30% Broker split on 180K GCI = 54,000
30% taxes = 54,000
20% expenses = 36,000
180,000 - 144,000 = net of 36,000 only, NOT 100k.
Haha wow...the Broker keeps 30% and the Agent is keeping 70% on the split. So actually his math is totally right.
Absolute gold. Facing this leaves zero room for excuses and lack of success. Thanks, Brandon! I appreciate it more than you know…
Thank you so much for this! as a new solo agent, I'm doing a lot of the grunt work myself when it comes to educating myself on my goals and prospecting. Going along with you set me up for the future so again, thank you!
sorry to ask but what is a solo agent does that mean your not working for a firm?
@@amandadominguez4286 I dont work for a team. My brokerage is full of resources but because I'm not a art of a team, I dont have the access to all this coaching and mentoring as easily. Thats why Brandon is such a god-send lol
No, it means she isn't part of a team, so she might not have someone to hold her accountable. @@amandadominguez4286
I appreciate all your content Brandon. Your listing presentation videos have helped me out a lot🙌🏼
Do you have the actual template that you go over for business planning? There wasn't the pdf template in the video description :)
Thank you Brandon! I’ll be joining your coaching today, excited to work with you and your team!
I’m looking forward to working with you
Thank you Brandon.
Hi Brandon, I find that a lot of the links in your video description don't work. For example, I clicked on the Brookstone Realtors link and it took me to a page that said "This site is not available at this time"
Hey guys just wanted to clear something up . I also thought the numbers were off BUT as a real estate agent you are SELF EMPLOYED and you are taxed on your NET income not GROSS. The numbers here are correct great job Brandon!
Thanks Brandon!
I love this brother. Your cold calling videos alone have already saved my career multiple times❤
This is great! I'm just starting in the business and writing up my biz plan and I needed certain numbers. Thanks, Brandon!
How would prospecting work in Canada? We dont get numbers for expireds. There are usually no more than 20-50 FSBO on the market at once.
waiting on my closings, the moment that finishes i will become a member ! 2024 will be mine 🤞🏼
Thank you all the way from Singapore Brandon
Consistently delivering valuable content! Thank you Brandon. Look forward to linking up soon.
The link to the business plan does not work
Asking a real estate agent whether you should buy a home right now is like to asking an alcoholic whether they think you should have a drink lol. Homes in my neighborhood that cost around $450k in sales in 2019 are now going for $800 to $950k. Every seller in my neighborhood is currently making a $350k profit. Simply unreal. In all honesty, deflation is what we require. The only other option is for many people to go bankrupt, which would also be bad for the economy. That is the only way to return to normal.
Amazing! Thank you Brandon!! Clear, concise and incredibly helpful.
What is an average contact to lead ratio for Absentee owners? Where I prospect there is rarely FSBO or expired listings
Brandon, this is phenomenal! Thank you for sharing!
278 contacts, 40 hours per deal.
Hi! No disrespect.. but wouldn't you need to take those percentages from your GCI instead of your desired NET? Taxes and broker split come from your Gross Commission. So if you re-ran those same numbers backwards (Let's say your Gross is $180,000 per your example) 30% for taxes on $180,000 comes out to $54,000, not $30,000. So, if you took the entire 80% that you're accounting for it would only leave you a NET of $36,000 on $180,000 GCI. Am I missing something? I'm also not great with math, so I'm mostly just inquiring.
Yes you’re right that’s why we “add” on top on net to build GCI needed. The way to check the math is to take the final GCI, subtract out what you added and you should get the net number…
The link to the business plan does not work. Is it possible to print this?
curious, how do I see the next consecutive video? when I go to listed they are from 3 4 yrs ago. Please advise.
Thanks Brandon for this great info per usual..Lets get to 100k subbies guys..
It's insane he doesn't have 100k subs. To me that means of the ~3M agents in North America, less than 3% are educating themselves. If you aren't watching Brandon and Ricky Caruth, what the hell are ya doing??? Haha
IM condfused why you take 30% based off your net number? or am I missing something
Where can we get the blank forms you used in this video ?
Could you share the worksheets with us??
Do you offer this complete business plan to download or only to people who schedule meetings with you and have you coach?
Love the videos been following you for a couple of months now! I saw one of your other videos I guess I have a general question. When prospecting what’s a good strategy for staying top of mind just one email a week or how do you keep prospects warm without over doing it?
Mitch, my suggestion is to send weekly emails that bring value. For instance, market reports that have listing to sold ratios and average days on market. Obviously using similar properties to your prospects. The next week send them information about mortgage rates & the next week send them information about how many people are moving/leaving the area. Mix it up and become the expert in your market.
I schedule a consultation last week and the person who confirmed it didn't show up on the zoom call and didn't text me until after I reached out to him, smh!
Amazing value
4:30 Isn't the broker split on the GCI not the NET?
Your math is off. Brokerages take their % off of the GCI, not the net. If the brokerage takes 30%, then $54K is 30% of your $180K GCI.
It's more like $245k GCI, brokerage takes 30%, leaving you with $171,500. You then pay 30% tax on that amount, leaving you with $120k, minus $20k for expenses (20% of net income) to get your $100k net income.
Am I wrong?
I think most brokerages that take 30% have a cap
My cap is $16,000 and my split is 80/20.
@@KFVR91 You're most likely right. I didn't take into account that MOST brokerages have a CAP.
@nickkkk495 Mine doesn't have a cap it seems and they take 50%
Great!
Is there a link for the blueprint?
Can you send me your Blue Print template?
I think the concept is workable, but not the math.
Does anyone start cold calling at 8am?
Having trouble with the math because it would be $52,000 net and not $100k …….30% of $180,000 is $54,000. If Taxes and broker are the same, then they would add up to $108,000 and then add your $20k in expenses would be $128,000. Then $180,000 minus $128,000 would equal $52,000 🤔
30% is from the $100k number (the net number that you want)
Bengaluru Karnataka state India Bengaluru area you live
Comments
The math is not mathing. Your GCI MUST be higher than 180k in order to make $100k net. GCI will have to be closer to $250k if you're using those % for split, expenses, and taxes.
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You sound like you have a cold, Brandon. Get some rest!