Agent Income Truth 10%
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AGENT INCOME TRUTH: Net Income after IRS & SET (self employment tax of 15.3%)
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calculator #
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Commission %3.00%2.50%2.00%1.50%
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Sale price$333,333$333,333$333,333$333,333$333,333
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Commission $$10,000$8,333$6,667$5,000
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this example is set for 10% Broker Split0.1$1,000$833$667$500
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Business Expenses (w/o assistant)1.00%-$3,333-$3,333-$3,333-$3,333
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Self Employment Tax (15.3%)0.153-$1,173-$892-$612-$331
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Tax Bracket % - IRS - Federal Income Taxes0.25-$1,623-$1,235-$423$0
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savings account for the unexpected - every 4-6 yrs saves 1 yrs net income
$650-$650-$650-$650-$650
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Health Insurance (based on $650 month) (total yearly cost adjusted for 25&50 transactions)$650-$650-$650-$650-$650
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Net Income per transaction (less $1k assistant expense)
$2,570$1,406$664-$465
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$ Per Hour (based on 65 hrs per closed transaction + 10 hrs non-closed transaction75$34$19$9-$14
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Assistant Cost
# closingsNET NET INCOME AFTER TAXES
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With no assistant (net net income) -------------------------------------------------------- # closings a year-->$012.5$32,128$17,570$8,306-$5,810
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Part time assistant ($18k plus $2kpayroll taxes...etc...) (net net income) ---# closings a year-->$25,00025$72,706$43,591$25,062-$3,171
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Full time assistant ($40k plus $5k payroll taxes...etc...) (net net income) - # closings a year-->$50,00050$153,212$94,981$57,925$1,458
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NET NET INCOME AFTER TAXES
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ADD - 2nd part time assistant/office manager
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ADD - buyers agent
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ADD - in-house/virtual sales agent taking calls & prospecting
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ADD - listing agent
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ADD - 2nd full time assitant/office manager
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