{"id":3920,"date":"2010-12-04T13:56:54","date_gmt":"2010-12-04T18:56:54","guid":{"rendered":"http:\/\/www.renthop.com\/news\/?p=678"},"modified":"2023-07-24T14:17:11","modified_gmt":"2023-07-24T18:17:11","slug":"how-good-brokers-raise-their-consulting-rates","status":"publish","type":"post","link":"https:\/\/www.renthop.com\/blog\/how-good-brokers-raise-their-consulting-rates\/","title":{"rendered":"How Good Brokers Raise Their Consulting Rates"},"content":{"rendered":"
For those who do consulting work, a once counter-intuitive secret is now common knowledge: accepting a lower hourly rate often means having a more demanding, more obnoxiously clueless, and more frustrating client. The theory is that lower-paying clients don’t know the value of high-quality work or are generally on a lower budget and need to try and squeeze the most value out of their dollar. We don’t blame them; these clients can be good career starting points, plus we appreciate life much more once we graduate to better opportunities. An established freelancer has plenty of clients knocking at his door, so the easy filter is sticking to a higher rate and avoiding all the charity work in the lower rungs.<\/p>\n
For anyone wondering about hard numbers, looking for coding work contracted for less than $60 an hour in the US is the equivalent to searching for a rent controlled<\/a> apartment.\u00a0 It will be tough to find and will certainly be full of deficiencies, but sometimes you have no choice. As the client, you expect and accept the problems and look forward to upgrading when your situation improves.<\/p>\n Real estate professionals<\/a> unfortunately don’t have as direct a way to raise their consulting rates. I know there are skeptics, but it’s true; excellent brokers do exist, and there is enormous variation in skill between the great ones, the average, and the terrible.\u00a0 If you’ve never met a value-adding broker, then it’s because you are the client who wants a programmer at $10 an hour. I’ll explain shortly.<\/p>\n Say I’ve got five clients who all want me to show apartments this weekend. Three want studios<\/a> under $1800 a month, one wants a one-bedroom in Brooklyn<\/a>, and the last one wants a luxury high-rise two-bedroom in the Financial District<\/a>. Unless one client is a word-of-mouth referral, I must assume that all five will convert at the same rate. As a broker I get about $1800 on the studio guys. I probably can’t convert Brooklyn because I’ve never bothered to preview there. However I’ve got a slew of OP luxury high-rises in FiDi that pay $4500 on conversion. I decide to prioritize my highest-paying option, the FiDi luxury two-bedroom.<\/p>\nReal Estate Broker Rates<\/h2>\n
Determining a Consulting Rate<\/h2>\n