Whether it’s budgeting, taxes or managing expenses, real estate agents need to pay close attention to money matters. Chris Heller outlines the five financial factors you may be overlooking.
New markets require new approaches and tactics. Experts and industry leaders take the stage at Inman Connect New York in January to help navigate the market shift — and prepare for the next one. Meet the moment and join us. Register here.
Maintaining tidy finances can be very difficult for anybody; there is much to put in place, and it can get very stressful and disorganized at times— especially if you have to do it all yourself — from creating and sticking to a set budget, filing taxes, keeping track of expenditures and probably auditing your performance over a period.
It gets even more tasking for an agent — especially those who run their own brand and sometimes have to be their own accountants.
There are costly financial mistakes agents must avoid if they must scale up their business in the long run. Here are five of the most common financial mistakes agents make. Whether you are a new agent or a relatively established one, you must avoid them.
1. Not separating your personal account from a business account
This problem is especially common to independent real estate agents who run their own businesses; that is not to say that other agents are not addressed as well. This financial mistake is due to the difficulty involved in running two separate accounts and…
