All Forum Posts by: Account Closed

@Chris M. That was just a round number example, but I agree and that's kind of the thought process here. Incentivizing employees in this environment is generally going to lead to greater results. Paying a flat fee/hourly rate for what amounts to a sales role offers little incentive to the employee to do more than the minimum. Combine incentive with the ability to learn/enthusiasm (thus the idea to target college interns) and there's potential.

What I was hoping to flesh out were those that may have had experience utilizing 1099 employees in such roles. Just really trying to wrap my head around how one can construct a training process, scripts, etc that fit within the 1099 constructs. I have an appointment to speak with my attorney about a few things in a couple of weeks and I'll see what his thoughts are...

@John Latkovich Thanks for the response.

I think PatLive and comparable services have their place, but having worked in the call center space briefly after college, I'm not overly confident in such a service being able to actually flesh out motivated sellers. Their job is to answer the call live and work the given script. If they've done so, they've met their contractual requirement. They have no motivation to push a seller and work through any bit of hesitation they may be feeling or make any attempt to discern what the seller's true reason for selling their home may be.

Would the conversion rate be greater than just a voicemail? Likely so, but I haven't seen enough at this point to determine if that increase would justify the costs.

Thanks again for the input though!

I've been giving some thought to utilizing part-time employees to answer calls and run comps to assist in handling my direct mail campaigns.

As far as structure, my thought was to market the position as an internship. I work in Higher Education and have witnessed the power of utilizing bright, energetic college students to grow a business. There's turnover, but the quality of work is far greater than what one would obtain from a VA or part-time employee willing to work for a comparable salary. Each school is different as far as what they'll recognize as an internship, but because the position is remote, I could market only to the areas that would count it (plenty of schools are pretty lax on what they consider an internship).

The primary concern would be keeping the role 1099 as opposed to W2 to assist in limiting costs and paperwork. Because the training you can offer 1099's is limited (I'd structure any training as an "Orientation" to err on the side of caution with this requirement), I'd need to be cautious, but based upon the idea that they could operate from their chosen location and would be required to provide their own laptop, etc, I'm cautiously optimistic that I could meet the 1099 standards. As far as a pay structure, I'd construct it to be based upon the amount of work performed (10 comps equals five bucks, etc) and a fixed fee for number of qualified appointments set.

Does anyone have experience utilizing a similar process? Or thoughts regarding my proposed structure?

I see the main hangups being accountability with young workers (though vetting candidates is a big part of any potential hire) and my ability to train them. I'd want them working off of script, but to stay compliant with 1099 requirements I think I'd have to leave it as a proposed and preferred method of operation and not a requirement. Obviously I'd consult with legal counsel prior to proceeding, but was hoping for any thoughts from the community if anyone has had comparable experiences.

Personally I would have loved such an opportunity in school. The earning potential wouldn't be huge, but if they're producing it'd likely pay better than McDonald's. Sure would have beat filing papers and making copies in my unpaid internship...

@Jacob Pischer Sorry to revisit, but wondering if you could expand upon the "three points of contact" you alluded to. Not finding specifics within the legislature regarding this or comparable, but certainly possible I'm just missing it. Thanks!

Thanks for the input fellas.

@Scott Schultz That's the direction I'm leaning, just curious as to if I was missing something obvious as to why so many individuals opt to operate without a license (other than the usual reasons).

I've actually got the materials for First Weber's On Demand course, just a matter of working through the remaining few hours. Any brokerage's that are more investor friendly than others in the area? 

Additionally, any particular law firm's in Central Wisconsin you'd recommend for RE?

@Jacob Fisher Thanks for the info. I guess I was more so referring to the limits of five in a year or 10 in five years triggering Broker status.

Outside of someone utilizing wholesaling as a side hustle - or as a supplement to other RE activities - you're likely doing an amount of deals that are in excess of these limits. I know many I've spoken with on a local level either weren't aware of the law or operated under the premise that it simply wasn't policed enough to worry about it.

From my research, Wisconsin laws surrounding broker status appear to be more transparent and strict as compared to many other states. So for those wholesaling in WI, have you obtained your RE license?

If not, what is your justification? Say we end up with an Ohio situation on our hands, are you just paying the fines and moving on or is there some level of justification you believe exists?

Though the laws themselves may not be highly enforced, it seems risky to build a business around something you know is directly in violation of the laws in place. I'm debating the topic internally at the moment and was hoping for others to weigh in with their experiences in WI.

Thanks,

Mitch