TC Math -- Why YOU (agent) + ME (tc) = Winning
- Ali Spicer
- Feb 6, 2019
- 3 min read
Let’s KISS today!
Back up, back up. KISS= Keep It Super Simple. Let’s take a quick, objective look at why agents that are playing a higher level—in BOTH business and life—are using Transaction Managers (AKA TM/TC/Transaction Coordinator—all used interchangeably here).
First of all, are we all clear on what at a TC will do for you and your business once you’re in contract with a buyer or seller?
Here’s a graphic to clarify. Note: real estate transactions can’t be summed up in one graphic, and neither can the duties that bring a transaction to close. You’ll notice you don’t see on either list, “Politely listen to minor (or major) meltdown of stressed out and overwhelmed first-time buyer,” or “Handle text message sent at entirely inappropriate hour about something that can’t be addressed until business hours.” And we all know…
…just be aware that the graphic below is meant to be a generalization, and some transaction managers offer additional services to help you leverage more of your time and/or grow your business.
Now that we are all on the same page, let’s look at the math. I’m going to have every TC everywhere giving me the stank eye for this one, but I’m going to estimate really LOW here, so you can go along with me. Let’s say you’re only spending 3 hours per transaction on those administrative duties your Transaction Manager will handle.
***You’re not spending 3 hours, you’re spending more. But if you’ve never calculated out the time, you don’t know, and you’re estimating low, so I’ll go with you. Realistically it is much, much higher than 3 hours. The only places you can find numbers where they suggest they did some kind of study say it takes between 15-20 hours/transaction. So, we’ll balance it out a bit, and say you only work 40 hours a week. Hey, give and take, my friend.
THE ARITHMETIC
You, Agent A, close 12 transaction sides per year. Well done!
12 (transactions) x 3 (hours) = 36 hours If you’re closing 12 deal/year, you obtain back almost a full week of your life by hiring a TC! Is that the vacation you’ve been promising your family for 3 years now? Is that time to actually write your business plan? Or set up your drip campaigns? Or prospect enough to actually grow your business? I don’t know, maybe handle getting a real logo? What’s a week to YOU?
You, Agent B, close 24 transactions per year. You’re killin’ it!
24 x 3 = 72 hours Now you get back almost TWO WEEKS of your life. There’s 54 weeks in a year now, you dig that?
You, Agent C, close 36 transactions per year. Because you’re a Boss with a capital B and you’re amazing at what you do!
36 x 3 = 108 hours Almost 3 weeks, friends. What can YOU do with 3 extra weeks?
Where my Platinum Producers at?! You, Agent Baller, close 60 transaction sides per year. Because you’re a baller.
60 x 3 = 180 hours Over a MONTH, ladies and gentlemen. You get back a full fricking month of your time and life
And what if, now that you’ve gone with me this far, what if it takes 10 hours per transaction to handle the administrative side (reality check: it does).
Agent A: 120 hours saved (3 weeks)
Agent B: 240 hours saved (6 weeks)
Agent C: 360 hours saved (9 weeks...9 WEEKS! Don’t you aspire to close 36 deals/year? Want to save 9 weeks of your life while doing it?
Agent Baller: SIX HUNDRED HOURS SAVED (That’s 15 WEEKS of paperwork you DIDN’T have to do!)
It really is that simple.
One KISS before you go: If you want to grow your business, and live your life at the highest level possible, hire a Transaction Manager. Today. Before you’re neck deep in paperwork, sobbing over too many glasses of wine that this life as a Realtor just didn’t turn out like you thought it would.
Fine Point Transaction Management LLC is an Idaho-based real estate transaction management company. Our mission is to elevate the Idaho Real Estate Industry by elevating Idaho Real Estate Agents. We exist to support agents who desire to build and grow strong businesses through time-leverage.
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