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171 Where Does Our Fee Go?
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Unlock the mystery of where your estate agency fees truly go in this deep dive episode of Ignite Your Estate Agency! Join hosts Sam and Phil as they unravel the intricate costs of running an independent estate agency and explore the question, "Where does our fee go?"
Learn from their experiences and candid conversations on the distribution of fees, including insights into salaries, marketing expenses, and operational costs.
Discover how understanding these elements can reshape the way you manage your finances and set your team up for success.
Explore the significance of transparency with your team about commerciality, the dynamics of fee structures, and the powerful impact of informed decision-making. Through actionable advice and relatable anecdotes, this episode offers a straightforward look into the financial anatomy of a thriving estate agency.
Plus, delve into how Ashdown Jones navigates these challenges and maintains profitability without compromising on service quality. It’s an episode brimming with practical knowledge designed to IGNITE your agency’s growth.
When you’re ready here are 3 ways we can help you to IGNITE your agency:
1. Come see behind the scenes of Ashdown Jones in Windermere on this unique and FREE day! Book your spot here www.ajmastermind.co.uk/btsday
2. Listen to another episode: https://www.ajmastermind.co.uk/ignite-podcast
3. Request an AJ Mastermind brochure by calling 015394 40892 or emailing emma@ajmastermind.co.uk
Ask your questions to Sam Or Phil: sam@ajmastermind.co.uk OR Phil@ashdownjones.co.uk
Engage with ambitious agency owners and grow your business by visiting our private Mastermind Facebook page: https://www.facebook.com/groups/ajmmforagencygrowth
If you have any questions please get in touch. Also, make sure you check out our upcoming events at: www.ajmastermind.co.uk/events
Some key takeaways:
➡️ Effective cost management is essential for maintaining agency profitability and growth.
➡️ Transparency with your team about fee distribution can enhance their understanding and performance.
➡️ Regularly reviewing and adjusting your financial strategies can lead to significant improvements in your business model.
Some great moments:
✅ “Bringing a home to market is 10% or just over 10%, 1500 pounds.” - Phil
✅ “If your salaries and payroll are more than 30%, I would really watch that because that can really sting you when you haven't got enough completions.” - Sam
✅ “You can’t get away with the marketing you were doing 10, 15, 20 years ago." - Sam
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