Lead generation might be the lifeblood of your business, but money is the oxygen. Without it—and a keen understanding of how your money is working—your business can’t breathe. Cash flow allows us to pay off debt, earn a living and build a scalable real estate business. When managed properly, that same cash makes vacations a reality, gives us the flexibility to choose when and how we work and so much more.
Therefore, it’s imperative to know precisely what your money is doing and where it’s always going. It’s easy to talk about gross commission income and production volume, but we need to go further than that if we want to survive in this industry.
Too many real estate agents fear money numbers because of the technical details. The reality, however, is that you have to know your numbers to create a roadmap for your business. My goal is to help you simplify these numbers.We’ll take a look at finances, accounting and taxes, though we won’t get into the weeds. This overview will get you started and show you where you need to focus.
Click Here to read the full article on The Realtor Magazine Continue reading “5 Financial Metrics All Real Estate Pros Should Track”
