When I was eight years old, I started mowing the lawns of the car washes my stepdad managed. After I’d finish mowing, I’d go vacuum cars until it was time to go home. Vacuuming cars sucked! It was manual labor in the Texas heat. I noticed the guy who sold...
Let’s be real, going commission-only scares the living hell out of most people. The numbers show it scares the hell out of most salespeople, too because a large majority of them have a base, guarantee or salary to go with their commission. Going commission-only...
Not too long ago, I was in the middle of a heated discussion among bankers about their commission splits. Many of them made 1 to 1.5% of the loan amount they closed. One of the bankers, mentioned that his commission split was about 70 basis points or bps. This was...