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#450817 - 02/25/16 03:43 AM Is this fair compensation for an assistant?
ibsellin Offline
Member

Registered: 08/19/11
Posts: 378
Loc: USA
I'm looking to get a showing & inspection assistant or two on board and I'm trying to figure out what is fair. I'm not trying to get the cheapest or work people for nothing, but also not trying to kill all my profits by being super generous. Does this seem fair? I mean if people are doing BPO's for $50 this surely seems like I'd have some takers... I'll pay them quick as well!


Attend home inspection - $100 (add $25 per hour if it runs over 3 hours)

Show homes - $40 for the 1st home, $25 for each additional home

1 homes - $40
2 homes - $65
3 homes - $90
4 homes - $115
5 homes - $140
6 homes - $165

Let's say the average buyer looks at 21 homes, 3 at a time, and has an inspection (and we're including people who buy the 1st home, people who buy the 40th home, and people who look but don't buy at all into this calculation), this would mean I'd have $730 in all the grunt work of a deal. This makes me feel greedy! But I've never had an assistant and the thought of paying money every time I need a home shown or inspection attended makes me a little nervous! I just paid $200 for 2 inspection attendances and I've done this before a little here and there, but now I'm looking to do it all the time. I've become a good bit busier, have 5 contracts in escrow and a few more in the works.. hoping to keep it rolling.

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#450818 - 02/25/16 03:50 AM Re: Is this fair compensation for an assistant? [Re: ibsellin]
David Hunter Offline
Major Contributor

Registered: 09/27/05
Posts: 1640
Loc: Cleveland, Ohio
Sounds really good to me! Heck, your assistant could make $90/hour or more just by showing houses (depending on how fast the buyers are moving you could fit quite a few houses in within an hour).

Plus, a lot of agents never make a dime. So, someone who wants to be in real estate but isn't making any money this is perfect for them. Especially if you're keeping busy and keeping your assistant busy.
_________________________
David Hunter | Retired RE Agent |Direct-Response Marketer
www.DukeOfMarketing.com/7-Real-Estate-Marketing-Strategies/
www.TheSaviorsMinistry.org


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#450819 - 02/25/16 03:52 AM Re: Is this fair compensation for an assistant? [Re: ibsellin]
Vermont Offline
Major Contributor

Registered: 04/12/08
Posts: 7869
Loc: Vermont's North-East Kingdom
Would they have to be Licensees in Pennsylvania ?
_________________________
Dale C. Hittle of GOLDEN RULE PROPERTIES in Glover, Vermont
Where We're Always Striving To Put Together "THE FAIR DEAL"

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#450824 - 02/25/16 08:17 AM Re: Is this fair compensation for an assistant? [Re: Vermont]
sualk54 Offline
Member

Registered: 03/19/13
Posts: 422
Loc: Hamilton, ON
wouldn't work in our area- the only one that can pay a rep for the furtherance of a trade is the brokerage, by law

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#450915 - 03/01/16 02:59 AM Re: Is this fair compensation for an assistant? [Re: ibsellin]
ibsellin Offline
Member

Registered: 08/19/11
Posts: 378
Loc: USA
I'm in DC, MD, VA and am the broker. Most of this asst. work is in MD - PG & Charles if anyone is reading this and interested PM me.

Maybe what I proposed is a little high? I don't know, but for this pay they are using their car, they are paying their own dues, mls, lockbox, SE tax, and also work might be sporadic. Lots of showings this week, few the next, etc.

If I was taking care of all their expenses and offering full time work and they were a true employee I would think less would be fair, but since they are a full agent w/ expenses I want to be fair. Plus, by paying them on a scale like this I think they are no doubt 1099's and not W2's by the IRS definition, so no worries about getting into a tango over employee/subcontractor compensation.

Consider you might be driving 30-60 mins to and from the showings, then you add in the gas and the time and mileage doing the showings.. I guess it just depends on how long the clients look at the homes and how close they are together.

Sure if they want to see 4 homes in the same subdivision and look at each for 10 minutes and the assistant lives 5 mins away they'll make a killing driving 10 miles and 1 hour total time. But consider they drive 15 miles and 25 mins to meet them at the first house, they look for 15 mins, the next house is 10 miles and 15 mins away, look for 15, etc. etc.. which is more of a probable day showing houses in these areas I think. I just think it's better to be a little generous on the pay side and have people that want to show houses and make themselves available than to try to be stingy and work them as cheap as possible and then they quit on you or only rarely available when they really need the money or the homes are close to them. The goal is to find maybe 2 or 3 people that will provide me with all the time coverage for both PG and Charles county Maryland and possibly some in DC as well. Also looking at getting them to attend inspections and do open houses, free me up to prospect, follow-up, go on listing appts, and have a little more free time and also not feel like I'm chained to work.. these buyers these days just think seeing a property same day is a reasonable expectation and maybe if I have 2-3 assistants it will be but for me alone being busy it's not reasonable and it's driving me up the wall.


Edited by ibsellin (03/01/16 03:11 AM)

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#450952 - 03/02/16 04:29 AM Re: Is this fair compensation for an assistant? [Re: ibsellin]
David Hunter Offline
Major Contributor

Registered: 09/27/05
Posts: 1640
Loc: Cleveland, Ohio
I gotchya!

Hmmm... I didn't think about driving 30-60 minutes away to show a house. I guess if it was one house like that it may not be worth it, but if it's a group of houses, even if they're a little farther away then it wouldn't be bad.

I say start offering it and see if anyone bites.
_________________________
David Hunter | Retired RE Agent |Direct-Response Marketer
www.DukeOfMarketing.com/7-Real-Estate-Marketing-Strategies/
www.TheSaviorsMinistry.org


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#452302 - 05/04/16 06:32 AM Re: Is this fair compensation for an assistant? [Re: ibsellin]
erickhon Offline
Member

Registered: 04/29/16
Posts: 49
Loc: Palo Alto, CA, USA
Its seems very good. Depends upon the number of houses and the number of clients assistant has to deal daily.


Edited by erickhon (05/04/16 09:37 AM)
_________________________
Real Estate Designations

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#453022 - 06/11/16 02:01 AM Re: Is this fair compensation for an assistant? [Re: ibsellin]
Jasmor Offline
Member

Registered: 12/30/07
Posts: 41
Loc: SC, US
So if the buyer doesn't close or the buyer does buy? Does your showing assistant still get paid?
_________________________
I'm sharing an editable version of My pre-listing package at http://www.JasonMorrisGroup.com

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#453046 - 06/13/16 04:01 PM Re: Is this fair compensation for an assistant? [Re: ibsellin]
Tex Offline
Member

Registered: 02/11/14
Posts: 216
Loc: TX
In TX it is my understanding that TREC doesn't want us at inspections.
_________________________

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#453052 - 06/14/16 12:41 AM Re: Is this fair compensation for an assistant? [Re: Tex]
Vermont Offline
Major Contributor

Registered: 04/12/08
Posts: 7869
Loc: Vermont's North-East Kingdom
Originally Posted By: Tex
In TX it is my understanding that TREC doesn't want us at inspections.

Here's an old thread that I contributed to, and which still represents my attitude:

Why I'm always at Inspections
_________________________
Dale C. Hittle of GOLDEN RULE PROPERTIES in Glover, Vermont
Where We're Always Striving To Put Together "THE FAIR DEAL"

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#453058 - 06/14/16 10:54 AM Re: Is this fair compensation for an assistant? [Re: Vermont]
Tex Offline
Member

Registered: 02/11/14
Posts: 216
Loc: TX
Originally Posted By: Vermont
Originally Posted By: Tex
In TX it is my understanding that TREC doesn't want us at inspections.

Here's an old thread that I contributed to, and which still represents my attitude:

Why I'm always at Inspections


Good info in that thread, and pros and cons to being there. In TX E&O is required for inspectors. I don't know about General Liability. And as far as liability, I don't think an inspector is less likely to get injured whether anyone else is there anyway. Stumbling through an expensive flat screen TV is another subject.

If my buyer wants me there then that is another subject. They are hiring them, and it is their call. My buyers know that I have building experience and sometimes want me there to offer advice on the findings.

_________________________

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#455043 - 10/20/16 05:05 PM Re: Is this fair compensation for an assistant? [Re: ibsellin]
OkeeDokee Offline
Member

Registered: 03/02/09
Posts: 45
Loc: California
So---How did the Showing Assistant Experiment pan out?

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#455051 - 10/21/16 01:20 AM Re: Is this fair compensation for an assistant? [Re: OkeeDokee]
ibsellin Offline
Member

Registered: 08/19/11
Posts: 378
Loc: USA
Originally Posted By: OkeeDokee
So---How did the Showing Assistant Experiment pan out?


Well back in March when I posted this I was slammed with buyers, things slowed a bit. I have one lady I use, we don't necessarily use that 'scale' I posted, we just always agree on a number before she helps me. I would say what I offer is close to that scale. She's very easy to work with, says I'm generous always agrees to whatever an offer.. she's an agent I've known since I started in the business and I'd say we're friends, I was at her wedding, she's fairly reliable but has her own business so isn't always available. I might look into this again when the buyers pick up.. in March I think I was working with about 7 or 8 pretty actively at one time.


Edited by ibsellin (10/21/16 01:20 AM)

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#455055 - 10/21/16 06:06 AM Re: Is this fair compensation for an assistant? [Re: ibsellin]
OkeeDokee Offline
Member

Registered: 03/02/09
Posts: 45
Loc: California
Agreed- I find that the inconsistency of business causes me to start and stop initiatives like this...But, I truly believe you are onto something- opening the house, here in California, ends up being the last piece of the puzzle that requires a "licensed" member of the MLS to gain access...but by creating that "Showing Agent" position as a non commission based compensation, I believe you can be a lot more profitable. If more agents that have buyer leads/prospects could band together and make the "Showing Agent" position a consistent money maker for the part time agent, a la Uber, it would be win-win.
I think there is a company called Curbed that tried this but I have not seen any indication that it took off.

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#455056 - 10/21/16 07:25 AM Re: Is this fair compensation for an assistant? [Re: ibsellin]
Vermont Offline
Major Contributor

Registered: 04/12/08
Posts: 7869
Loc: Vermont's North-East Kingdom
Is the "Showing Assistant" covered by your E&O and General Liability in the event of any problem at the Seller's location ?
_________________________
Dale C. Hittle of GOLDEN RULE PROPERTIES in Glover, Vermont
Where We're Always Striving To Put Together "THE FAIR DEAL"

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#455057 - 10/21/16 08:32 AM Re: Is this fair compensation for an assistant? [Re: Vermont]
OkeeDokee Offline
Member

Registered: 03/02/09
Posts: 45
Loc: California
If they are a licensed real estate agent with MLS access key... it would be the same as any other agent showing a home- some E & O insurance like CRES gives additional coverage, but I dont think its required.

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#455058 - 10/21/16 08:52 AM Re: Is this fair compensation for an assistant? [Re: ibsellin]
Vermont Offline
Major Contributor

Registered: 04/12/08
Posts: 7869
Loc: Vermont's North-East Kingdom
Some insurance is nice to have regardless of whether it's "required"; even before there's a problem.

I find that E&O Underwriters don't like to find about any additional hazards (risks) AFTER you've already incurred a loss, and they often (like usually) deny coverage.
_________________________
Dale C. Hittle of GOLDEN RULE PROPERTIES in Glover, Vermont
Where We're Always Striving To Put Together "THE FAIR DEAL"

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