Ensure you never miss an issue of the
real estate business bulletin
REB Top 100 agent on the best time to hire an assistant

REB Top 100 agent on the best time to hire an assistant

business assistant
by Tim Neary 0 comments

Real estate is a volume business. As an agent, at some point as you develop your career, it is a good idea to hire an assistant. But when is the right time to do it?

Number one ranked REB Top 100 Agent Alexander Phillips from Phillips Pantzer Donnelley in Sydney says the right time is when you are doing two deals a month or twenty deals-plus a year. 

“Because, depending on where you work, two deals pay for your assistant per annum,” he told REB on the Secrets of the Top 100 podcast.

Mr Donnelley said it’s about investing in yourself.

“Something I think that we’ve always done well, when I look at the guys that are doing well now that are coming through the ranks, they’re investing in themselves and they’re putting themselves on the line by really stretching themselves.”

“It makes them more accountable, makes them more hungry."

Mr Phillips said there is a long-term benefit to bringing on an assistant, despite the added costs. 

“You’re building up someone within their own business that may become an agent one day and that would satisfy that particular person.”

“But this is where I think a lot of agents fall short. They don’t re-invest in themselves and an assistant’s the first thing you can do in respect to that.”

Mr Phillips also said the next level up is to bring a junior agent into the business as an understudy.

“That’s probably when you’re doing 50-plus, or even 40-plus, deals per annum.”

“Because, unless you’re able to do everything, which you can’t, the customer is not going to benefit from your service, and you’ll have leakage with the process of actually selling someone’s home.

“Things go wrong, they turn on you, you dont sell their property, and then youre going back to even letting go of your first assistant."

Mr Phillips said it’s a good idea to have a 10-year growth plan. 

“Like anything lasting, you need a business plan or model on where you want to get to,” he said.

“And then break it down on how many deals that needs to be, how many years you want to be at that position with one assistant and then you put on a second or third.”

REB Top 100 agent on the best time to hire an assistant
lawyersweekly logo
promoted content
Recommended by Spike Native Network
reb top 100 agents 2017

The REB Top 100 Agents ranking is the foremost ranking of agents in Australia. It has set the bar for excellence in Australian real estate. To be ranked as an REB Top 100 Agent is the standard real estate professionals strive for. See the full 2018 ranking here!

featured podcast

featured podcast
An industry where the resilient succeeds

Tim Heavyside believes that a strong support team and good foundations are paramount to success in the real estate industry, and with regu...

View all podcasts

Would you consider working for Purplebricks or a similar 'DIY' model?

Yes (7.2%)
No (80.9%)
Perhaps - make me an offer (12%)

Total votes: 209
The voting for this poll has ended on: July 13, 2018
Do you have an industry update?