The “business” of selling real estate is by far one of the most rewarding ventures in the world. As a Realtor, you have the freedom to pay yourself whatever you desire—on your own terms.
Unfortunately, only a handful of Realtors are truly crushing it and smiling to the bank weekly or monthly. The simple reason? Many operate with a “scarcity” or “survival” mindset.
This is largely due to cultural influences and the “miracle” mindset.
In this post, I’ll detail how you can elevate your real estate business this year and beyond—starting with budgeting your money the right way.
But first…
You Can’t Help Everyone Yet!
Many people—especially in this part of the world—feel obligated to help friends, family, and colleagues from the little they earn. It’s a noble thing to do; even the Bible encourages generosity.
However, without a strict budgeting culture, you might not know when to apply the brakes. That little income will disappear in no time.
If you continue down this path, you will never grow as a Realtor or in the “business” of selling real estate.
The most important step is understanding that you need to stabilize yourself first before adequately helping others.
Be a bit selfish, but be very charitable. (More on this below.)
No. 1: Get Your First Paycheck
I assume you’re not just starting out, but for those who are, here’s what you need to do:
Since you haven’t yet figured out your best strategy, you need to go all out! And if you’ve been in the industry for a while, don’t fold your arms—you should know better by now.
Pitch to everyone you meet: your siblings, uncles, aunties, college and university colleagues, social media groups, people on the road, in a cab, bus, or even at events. EVERYWHERE!
By all means, bring more people along for property inspections as soon as possible. This will help you close deals faster and secure your first paycheck quickly.
Now, once you get that paycheck, the next step is crucial…
Have a Budget for Your Paycheck
Let’s assume you made N200K (roughly $129 at today’s exchange rate of N1550/$). You need a plan for that money!
There are different budgeting rules—50/30/20, 70/20/10, etc. You can research them if you like.
But in my experience, those rules don’t help a broke but determined Realtor from this region scale fast. So, I developed my own system:
The 40/30/10/10/10 Rule
1. 40% of Your Income Goes Back into Your Business
You must reinvest 40% of your commission into marketing and lead generation—this is the nerve center of every successful salesperson. Many Realtors quit simply because they don’t have enough leads to follow up with.
LEADS LEAD TO DEALS!
Use this money for:
- Digital ads (Facebook Ads are highly recommended for beginners).
- Transportation (Uber/Bolt) for client appointments.
- Promotional materials (printed flyers, e-flyers, business cards, etc.).
- Training, seminars, and books to sharpen your skills.
These are necessary expenses, which is why I recommend allocating a large portion of your income here.
2. 30% Goes to Personal/Family Needs
I sincerely hope you’re still single at this stage of your career! If you’re married with kids (like me), you’ll have to do the most!
You must ensure that 30% of your income sustains you and your family until your next paycheck. The good news? If you invest 40% back into marketing, your next deal won’t take long.
This category covers food, clothing, rent, and other essentials. You’re an adult, so I won’t say much here.
3. 10% Goes to Savings
Simple but essential. Save some funds, buddy! Don’t let unforeseen emergencies wipe out your career.
Always have an emergency fund tucked away. Avoid traditional banks—use PiggyVest or other high-interest savings platforms.
The best part? As you save consistently, you’ll eventually have extra cash to invest in the same properties you’re selling!
4. 10% Goes to Charity
Here’s where your giving comes from—not your entire income. So, from your N200K paycheck, you allocate N18K for charity (I’ll explain why it’s N18K instead of N20K below).
Once you exhaust this 10%, hit the brakes and focus on your business. I wish I had learned this earlier!
5. 10% Goes to “Dorime”
Take yourself out every Friday—or whenever you can. Some of my best sales come from networking with people when they’re most relaxed.
And in front of a glass of red wine, suya, or even shisha (I don’t recommend the shisha, though), you’ll connect faster with potential buyers.
Use this 10% strategically. Don’t go to cheap places; visit premium spots in your city where you’ll meet high-value clients.
Wait, What About Tithing?
As a Christian, I must remind you: If you’re budgeting based on N200K, you’ve already spent your tithe!
Budget instead on N180K, giving N20K as tithe. It’s our culture…
In Conclusion
Making money is hard—don’t waste it carelessly. Nobody is coming to fund your business.
Nobody will help you when you can’t afford to transport yourself to property inspections or run ads.
By all means, as a Realtor, stick to this budgeting system and walk into millions in no time!
Need Help Scaling Your Real Estate Business?
I help Realtors scale from ZERO to 6-9 figures in just 3 months. I’ve done this for several high-earning Realtors—and you should be next.
At the very least, this “love letter” on budgeting should show you I know what I’m talking about!
Join my WhatsApp community for more information—click HERE.
Do check out my Facebook ADs + AI for Realtors course here!
Also, check my blog for more articles (sorry, love letters) like this one.
Let’s get you to the top!
— Eze Maximus