when to hire first assistant

[graysqwrl]

I'm a one man wrecking crew. When should I hire my first assistant and what should I pay him/her?

[jraringa]

You should hire your first assistant as soon as possible. If you are worried about it being a financial burden, see if you can split the cost with another loan officer in your office.

write down all of the tasks that you do every day in 15 minute increments. At the end of a week you should be able to pull out the stuff that isn't high dollar tasks and be able to assign those to your assistant. Try not to make the mistake of hiring someone exactly like you because they will hate doing all of the stuff that you hate doing.

I'd pay a base + plus comission. If the assistant helps you get one extra deal per month then they should cover their own cost.

[Troy]

graysqwrl...did you take the plunge? Did you hire an assistant?

[BClender]

I was concerned that my volume wasn't high enough to afford an assistant, however I knew from my previous experience that the sooner I hired an assistant the better off I would be.

I hired a new broker as my assistant paying her 20% of my gross. Always affordable, even in a bad month and we have an agreement that when she can no longer keep up to the workload. She will have to hire and train someone to help her and be paid out of the 20%.

[graysqwrl]

I have decided to hire someone at the first of the year. I'm confident in my production. Also, I will be sharing the assistant with another LO in my office.

BCLender, how long have you had that assistant for? How is it working out?

Thanks for everyone's help!

[Troy]

I'm glad to see that people are starting to use the forum. Sorry to jump in on your thread....I'm just a little excited!

Troy