Elite AgentLEADERSHIPOPINION

Michael Choi: five signs you’re ready to take charge

Feel like you’re spinning the wheels at work? You are ticking all the boxes: passionate about your job in real estate sales, you put in long hours and take and make calls at any time of day and night to help your clients, yet at the end of the financial year did you look at your income and think, “Is it worth it?”

You are a proven sales high achiever yet you find that is not reflected in the money in your pocket. So what can you do about it?

Congratulations, you have reached that point in your career where you realise things are not going to change unless you make a change yourself. That is step No 1 in becoming your own boss.

Since launching our real estate network I have heard these concerns many times from talented but frustrated sales agents just like you.

Area Specialist is all about giving property professionals the support to unlock the potential of their own personal brand. And earn what they are worth.

From our experience, we know when agents are ready to take that step to become their own boss. Here is how you will know too.

1. More than 80 per cent of your business is self-generated and you are writing more than $250,000 in gross commission income a year.

These are the agents who have reached the sweet spot we know makes them ready to go out on their own. They are likely to be the people who feel like they are being held back by outdated business models in real estate. 

Despite some massive changes in technology – was it really only 15 years ago when we worked without a smartphone?  – real estate offices have mostly been based around an old-school franchise system. 

If you work in that system a hefty percentage of your commission goes to the franchise, even if you generate most of those sales yourself. 

Your boss profits from the rent roll of properties you have sold and the clients you have referred to the office. 

The way to grow your own rent roll asset with the contacts you make in sales is to be your own boss.

The way to make sure a fair percentage of your hard-earned commissions comes back to your pocket is to be your own boss.

2. You are constantly driving change and improvements at your current workplace.

People bring all kinds of life experiences to their jobs as property professionals. Some already have a background in sales or have worked in other roles in a real estate office, but just as many bring other skills. 

If you are keen to make a mark you will no doubt strive to show your employers you are a team player, and someone who adds value to that office with your skills. 

You won’t only generate ideas but implement them. In short, you are a do-er. 

But you have limits. Make a list of all the ideas you have brought to those office meetings, how many of them have been implemented and how many more you are sure would be excellent innovations if you were running the show. 

If the page is blank, you might not be the best person to be your own boss. 

If it is full, what’s stopping you?

3. You feel you are paying too much tax.

You have just submitted your tax returns and can see in black and white one of the reasons you don’t seem to be able to get ahead. 

The subject of tax deductions is complex and you have to take sound advice to make sure you meet your obligations. 

But running as a company means you pay lower taxes compared to an employee

4. You either have top market share or are the No 1 agent at your office.

You are a competitive person and take satisfaction in being the top agent in your office. 

You have shown the energy and tenacity it takes to be successful. 

You might have received awards to acknowledge your achievements or your local knowledge makes you the agent with the top market share in your area. 

These benchmarks show you are ready to take the next step in your career. 

There was a time when real estate agents might have needed to be part of the franchise system. 

You needed that landline number and someone to answer it when you were out with your clients. You might have needed that big brand name to connect with your clients then but that has changed. 

Area Specialist actively wants you to develop your own personal brand. 

We are here to make sure that you do that with all the admin support you need, as well as a network of like-minded professionals for advice when you need it.

5. You write more GCI than your boss but they have a better car than you.

You have put in the long hours with a smile on your face and you have done everything asked of you. 

Your boss is doing nicely out of all your long hours, your contacts and your business smarts. You see it every day when you pull into the carpark beside the boss’s shining new model. 

There is a way to fix that. Cut out the middleman and put the extra earnings from commissions towards that new car or other toys. 

Agents working in partnership with Area Specialist have the flexibility to ensure the fit that is best for you. 

You can work from a home office or open an office with a street front. You can choose the brand name you want on the sign out the front. 

As licensee, you pay a flat fee to harness the support of a powerful real estate network that finally allows you to earn what you are worth. 

The more you sell, the more comes directly back to your pocket. The feedback from our partners tells us that the support from Area Specialist gives agents the confidence to be the best they can be, which is why more are making the switch every week. 

Everything you have experienced in real estate tells you that the way to get ahead is to back yourself, your skills, your knowledge and your reputation – to be the boss, not the employee. 

If what you have read here sounds like your story, here is the question you have to answer: if not now, when?

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Michael Choi

Michael Choi is the Founder of Area Specialist, a real estate platform that helps top performing agents open up their own business without the cost, time or risk.

Partner Content

This post is promoted by Elite Agent on behalf of one of our commercial partners (advertisers). For all partnership enquiries email mark@eliteagent.com