Episode Details

One of the biggest questions we get from property management business owners once they start building out their team is "How do I compensate and recognize my team members?"

In this episode, property management growth experts Jason and Sarah Hull discuss the different kinds of compensation structures for different personality types and roles on your team.

[02:15] The difference between you and your team

[07:56] The problem with giving out percentages

[12:13] How to set up commission structures

[21:23] Recognizing your team effectively

[25:44] Giving out raises and job titles

"Business is a more effective vehicle than even a charity at creating lasting and impactful change."

"When you dangle the carrot in front of a great salesperson, they will jump off a freaking cliff to get it."

"Your discomfort in giving somebody a raise should be equal to their discomfort in asking for it."

"Recognition costs nothing."

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[00:00:00] Jason: They need to be invested in like committed to helping you grow this business and helping you move it forward, otherwise they are just dead weight and you're creating a bigger and bigger monster of dead weight as the business grows.

[00:00:14] Welcome DoorGrowers to the DoorGrowShow. If you are a property management entrepreneur that wants to add doors, make a difference, increase revenue, help others, impact lives, and you are interested in growing in business and life, and you're open to doing things a bit differently then you are a DoorGrower.

[00:00:31] DoorGrower property managers love the opportunities, daily variety, unique challenges, and freedom that property management brings. Many real estate think you're crazy for doing it. You think they're crazy for not because you realize that property management is the ultimate high trust gateway to real estate deals, relationships, and residual income. At DoorGrow, we are on a mission to transform property management, business owners. And their businesses, we want to transform the industry, eliminate the BS, build awareness, change perception, expand the market and help the best property management entrepreneurs win. We are your hosts, property management, growth experts, Jason Hull and Sarah Hull, owners of DoorGrow.

[00:01:11] That good? Now let's get into the show. All right. We were trying to change the intro right before we did it. And sometimes she's not on it. Sometimes she is. She's mostly on it now. So. Anyway, here we are. So our topic today, I'm getting a lot of questions, a lot of questions, and this has been going on for a long time, but we're getting a lot of questions about compensation.

[00:01:37] This just keeps coming up and we see a lot of mistakes when it comes to compensation. So the challenge with compensation is that entrepreneurs think differently than most people that they are paying, and so they make mistakes in how they compensate people because they think it's going to help them get more of what they want and they actually create the opposite.

[00:02:00] And so I want you to pay close attention to this today. If you watch this you should not ever ask if you shoul