Chris Young writes:
Keller Williams and real estate in general is very open about numbers and gross etc. Yet for some reason I find that the administrative $ is very hush hush. I know that the #s are different based on the market area but have you written or seen anything about payment for all that we do? I’m the Closing Coordinator/Listing Coordinator/Human Resources for my team of 8, Executive Assistant to my mega agent. I have been commission for years (licensed agent here) and now being switched to salary so I’m at a loss for what others are being paid. Help? Suggestions? Advice on where to look?
And here is what I emailed back to her:
I felt like my response was too long for the comments section on my blog so I thought I would email this to you. I will make this response into a separate blog post so everyone can see it because I would agree that we don’t talk about salary at all when it comes to hiring admin staff.
Do you mind if I use your name and question in that future blog post?
First, let’s examine why you are asking the question. I am guessing it is because you want to make sure you are getting paid an amount that is in line with what other admin are getting paid for similar work.
My question for YOU is, do you feel like YOU are receiving enough money to keep you happy? If another agent came along and offered you more money, would you go with that agent simply because you’d be getting paid more?
I would suggest that there’s a lot more value that an admin receives besides how much money they take home.
For instance, I list the following as benefits of my job and why I am likely to never leave my current agent even though someone else may offer to pay me more…
1. I am salaried, so I don’t have to keep a time sheet.
2. I have unlimited time off. (This didn’t happen until I hired a second admin so that we could cover for each other, and we only have the same days off during holidays.)
3. I can work from home if I want.
4. My agent is the right personality fit for ME. He is my opposite on both the DISC and the AVA profiles. And he emphasizes that we lead the team together. (It’s all his money and all his risk, but he’s kind enough to seek my opinion and let me lead with him.)
5. My agent shows genuine concern for my well-being and works to make me happy.
6. Yes, he pays me well. I get a raise every year.
I started at $17/hour in 2004 with a different team than my current one. I have a bachelor’s degree and had taught high school English for three years, then worked as a leasing consultant at an apartment complex for two years before getting hired as the executive assistant on a team of three agents and one transaction coordinator.
According to salary.com the median salary for an administrative assistant is $37,818 with a range of $33,863 to $43,216. That translates to $16.28 to $20.78 per hour. So you can see that there is a wide range of salaries even outside of just real estate. The amount can (and should) go higher with experience and education.
Benefits that I bring to the team are 10 years of knowledge and experience. Countless hours spent educating myself on how to get more business for the team and how to hire the right people. Nights and weekends spent reading books and online articles about how to be a better leader and a better person.
I hope that answers your question! Feel free to email me back if I can clarify anything for you.
One thing that I forgot to mention is that I often see assistants receiving bonuses based on the team’s profit either quarterly or at the end of the year. I’ve seen some assistants received a bonus based on a fixed rate per closed transaction. I’ve also seen assistants receive a $500 bonus for referring closed business to the team.
At the end of the day, you have to decide for yourself what you value most. If I’m getting paid well, but I’m not happy in my job, the likelihood of me sticking around is slim.
Do you have a question for me? I’d love to hear from you! egilbert AT kw DOT com