Let's talk about Money! We do JV deals because we love the game of real estate, but let's be real....... No matter how much you love the game, pepper must rest.
Let's say we set a target to earn N 10 million in commissions, here are some quick scenarios on how to achieve this number. For those of us who already earn this on the regular, please share some tips with us lesser mortals
Note, the focus is on JV Deals, but the same could apply to property sales and rentals.
Scenario 1- 1 deal with property value of N 200 Million, earn 5% commission - Boom! Target achieved.
This would be the easiest way. It can happen, but what if you have to split the 5% with 5 people in your network (I am sure we have all experienced this)? Target no longer met because you would be down to N 2 million and will need to close 5, N 200 Million deals to reach N 10 Million in earnings. Not impossible, but not so easy.
Scenario 2 - 4 deals with property value of N 50 million, earn 5% commission - Boom! Target achieved. Is it easier to find and close 5 deals of N 50 Million or 1 deal of N 200 Million? Probably takes the same amount of effort, but the odds are more in your favor when you have 5 options rather that just 1 option. What if you still have to share the commission with 5 people? Then you would need to close 20, N 50 Million deals to reach N 10 Million. Can you close 20 deals in a year?
What's the most number of deals you have closed in a year?
Scenario 3 - Close 4, N 200 million and 6, N 50 Million deals, earn 5% commission, split earnings in 5 places and you would have earned N 11 Million. Does this sound achievable?
Can you close 10 deals in one year? With hard work, focus, the right systems and a strong network, this is very achievable.
This year is almost over, but what if you have a solid plan and system for next year?
10 Deals, N 10 Million in earnings?
20 Deals, N 20 Million in earnings?
30 Deals........................................................It all depends on you
Let's write the vision and make it plain. This is our challenge to you