Seriously. I'm in the business 20 years and I have never even heard of one. I am a fun guy, so that can only mean one thing - no one ever retires from real estate. Is it because we love it so much, or that we can't?

There is a major flaw in our business model, in that each real estate agent is an independent entrepreneur, but even after 25 years, there is no value built that can be sold. Entrepreneurs retire when they sell their businesses. Without shareholder value, a business isn't really a business - it's a job.

Then there's the treadmill effect. Two things happen at every closing; you get a commission check and you lose a customer for 10 years. You have to get right back on the treadmill.

The good news is that you won an award for a fantastic performance in 2011. The bad news is that it's 2012 now! Get back on that treadmill.

I know hundreds of real estate agents who have created enormous wealth over their careers, but most of it went to their clients. We don't get wealthy in this business if we just generate commissions for selling real estate.

In other words, if you are a 20 year veteran in this business, you have sold a financial product that has performed exceptionally well and made people rich. The questions is, have you acquired enough yourself?

Buying one cash-flowing single family home at market price in the next year is a life changing event. You just have to wait 15 years to realize the benefit. (An extra $200,000 in cash is a life changer for most people, and that's what you would likely end up with for each investment property you buy.)

You need to do this. It is a crime to be in this business and allow artificially depressed values, artificially depressed mortgage rates and skyrocketing rental rates pass you by. Stop making everyone else rich and build shareholder value in your business by acquiring assets along the way.

OwnAmerica has just crossed over our 1,000 member threshold. We've cracked the code on building a profitable and rewarding investor clientele quickly with simple adaptations like the Investor Open House. But more importantly, we can give you the confidence to build a portfolio for yourself.

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16 Comments on Have you ever been to a retirement party for a Realtor?

JUL
02
311,878 Points 20 Featured Posts Outside Blog Called Shot Master

Valid points.  Something to definately think about.  Realtors don't retire.  I think it's because in most cases we're A type personalities.  Quite frankly, why retire.  By now, the referral base should be well established.

6:18am • #1
173,797 Points 12 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

I entered real estate from the perspective of a real estate investor.  When I first came into the business, I learned several surprising things about real estate agents.  Very few of them own real estate beyond their personal residence.  Many of them don't even own a home.  Real estate nvestment and management is a very different skill set from real estate sales.

7:29am • #2
Outside Blog

Greg, I agree with Chris & Dick 100%. Why retire? In the future, I will gradually slow down the pace, but I don't see myself actually "retiring". I see this as a benefit - not a downside, of our profession.

Jeff

9:50am • #3
424,654 Points Outside Blog

I think Judith's response really hit it on the nose!

9:51am • #4
165,925 Points 1 Featured Post

Old Realtors Never Die - They just list away. 

Read that on Activerain once :)

2:12pm • #5
650,191 Points Localism Sponsor Outside Blog

Seems that even those who are thinking of retiring keep their license and refer out the business they might get.

9:13pm • #6
JUL
08
2 Featured Posts

Its not common, but I have seen Realtors sell their business.  They usually have created a brokerage or a team with quite a following.

5:31am • #7
127,487 Points 1 Featured Post

I too have seen Realtors sell their business.  This business is a great second career for folks who have retired from another profession.

5:58am • #8
522,834 Points 10 Featured Posts Outside Blog Called Shot Master

It seems that every time someone wants to sell something to realtors, the price is just $39.00 a month.  You get 10 different marketing or investment programs, and it is just $390 a month.  Easy schmeasy.  And, that would likely be just a dinner out, right? 

10:10am • #9

I have only been in the business for 11 years, but I can remember one agent in the area, actually retiring and passing his business on to another agent.  Of course, he also had real estate investments - rental properties to use as suplemmental income.

10:45am • #10
127,935 Points Outside Blog

Agree that investors as RE clients is the way to go.

6:55pm • #11
879,394 Points 10 Featured Posts Attended Rain Camp Called Shot Master

Greg, yes, investor clients are for life, they buy more frequently and yes, refer much more 'convincingly' to others. That's the business model I am looking forward to - so....

9:59pm • #12
JUL
30
179,936 Points 12 Featured Posts Called Shot Master

I got in to this business so I wouldn't have to retire.  I figured I could always push my walker through the house while the clients looked around. :-)  Now, agents don't even show houses!  I can give them the lockbox code from my nursing home room. Yeehaw!  Seriously, though...I wouldn't have the investments and rental properties I have if it wasn't for this terrific business.  After 34+ years, it's still as exciting to me as when I started.  Never a dull moment, never two days the same and the added benefit of meeting wonderful people along the way.

3:54am • #13
198,101 Points 3 Featured Posts Localism Sponsor Outside Blog Called Shot Master

Some of us do not plan to retire.

5:49am • #14
SEP
04
700,378 Points 39 Featured Posts Outside Blog Called Shot Master

You had many good points until you ended with a commercial.

9:11am • #15
2 Featured Posts Outside Blog Called Shot Master

Realtors don’t retire unless they don’t do enough business to pay all the $39.00 bills.

 

11:07am • #16


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Greg Rand

White Plains, NY

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Address: 29 Locust Ave, Suite 300, Rye, NY, 10580

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