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Is it possible to retire from real estate?

By
Real Estate Agent with Long & Foster Real Estate, Inc.

It's been a long time coming, but my husband and I decided last September to leave the community where we had lived for 43 years and move to "lower slower" Delaware. We contracted on a new home to be built in September, put our Crofton home on the market the day after Christmas, and moved into our beautiful new Plantation Lakes home in March.

I made a decision, at least for now, to not get a Delaware real estate license and have to learn new state laws and new forms, but to enjoy walks on nearby beaches, to play the piano again, and to finally try out those new golf clubs I purchased a few years ago. If any repeat and referral business should happen to come my way, I would take care of it - perhaps with some assistance from my Long & Foster colleagues in Crofton - at least until my license expires again in August 2016.

 

Funny thing... my Maryland real estate business absolutely exploded with new listings that have sold quickly, repeat clients that have purchased homes or are planning to this Spring or Summer and even new clients coming out of the woodwork after reading my old blog posts. As a result, I'm now commuting two hours each way nearly every day to maintain my real estate business in Crofton and other communities on the Western Shore of the Chesapeake Bay.

I guess this could have been expected... When you're in real estate for 42 years, you're gonna have repeat, referral, and even new business, right? All this has certainly been good for my ego and self-confidence, not to mention the shopping list for my new home, and I'm actually enjoying the drive. 

 

Is it possible to retire from real estate? For me, the answer apparently is "not yet" - so don't overlook me for referrals in Maryland just because I live in Delaware!

Posted by

This infoMargaret Wodarmation was provided to you by Margaret Woda, an Associate Broker with Long & Foster Real Estate in Crofton Maryland. Contact Margaret today for general real estate information or to learn how she can help you buy or sell a home in Annapolis, Bowie, Crofton, Davidsonville, Gambrills, and Odenton. 

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Comments (129)

Norma Toering Broker for Palos Verdes and Beach Cities
Charlemagne International Properties - Rancho Palos Verdes, CA
Palos Verdes Luxury Homes in L.A.

The rewards of a job well done are following you--and that's not a bad thing!  

I absolutely treasure the loyalty of former clients.  I woke up this morning to a letter of introduction in my email referring a past client's former boss.  Word of mouth is the best, and isn't it nice to know people are saying great things about you?

May 15, 2015 12:15 AM
Mary Tucker
Neptune Properties - Bayou Vista, TX

I'm at the other end of the spectum, Margaret, and I only hope to have this problem a few years down the road. To have a 40+ year career, you must have done it right! Enjoy your next chapter of Realtor-retirement! I wish you many successful transactions in 2015

May 15, 2015 05:38 AM
Dorte Engel
RE/MAX Leading Edge - Bowie, MD
ABC - Annapolis, Bowie, Crofton & rest of Maryland

Dear Margaret,

You cannot leave yet! We would miss you. 

May 15, 2015 01:36 PM
Bruce Hicks
Best Homes Hawaii - Honolulu, HI
Your Best Hawaii Realtor!

Hooooraaaay, I am commentator #114!  Congratulations on getting so many comments Margaret Woda . 

May 16, 2015 10:59 AM
Frank Rubi
Frank Rubi Real Estate, LLC - Metairie, LA
FrankRubiRealEstate.com

Margaret you had me at Golf Clubs. Maybe a quiet life is not a bad idea. I say I will never retire but lately it has cross my mind more and more. Enjoy life. 

May 17, 2015 03:31 AM
Mary Hutchison, SRES, ABR
Better Homes and Gardens Real Estate-Kansas City Homes - Kansas City, MO
Experienced Agent in Kansas City Metro area

You are smart to slow down and enjoy this time...and your new home!

May 17, 2015 06:49 AM
TERRY DRISCOLL
MAINE HOME REALTY - Bath, ME
REALTOR - Buy or Sell in Any Season!

You've sure made lemonade out of lemons with that long drive!  It's funny how our decisions turn out sometimes.  Maybe next time you decide to retire, it will stick.  Wishing you the best in your new home!

May 18, 2015 02:03 AM
Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

A realtor in No CA named Bob wore red pants to work as an engineer. He said the re career can last only 10 years.  He had a RV listing his cum sale $. After $100M+ the RV was salvaged.  35+ years later he was still working.  Finally he moved to LV and still practice his profession.

May 18, 2015 02:59 AM
Jim Paulson
Progressive Realty (Boise Idaho) www.Progressive-Realty.info - Boise, ID
Owner,Broker

It is a shame that more Realtors don't have a documented business model that is sustainable after they leave.  Insurance agents/agencies are much better at reselling their pipeline and book of business.

May 18, 2015 03:25 AM
Shanna Day Team Leader (UT & AZ)
Keller Williams SLC (UT) and Keller Williams Realty EV (AZ) - Park City, UT
Keller Williams Realty

I'm having too much fun in this business to retire!  

May 19, 2015 05:52 AM
Mary Sheridan
Keller Willliams - 1033 Hamilton Place,Johnson City TN 37604 - Johnson City, TN
Creative Marketing, Buyer Agency 423-943-7655

I'm in the same boat - 36 years of a great life in real estate but it's time to go be nearer family, so we're moving to Roanoke VA in a few months.   I can't quit completely - will VA and TN licenses and concentrate on referrals and helping my daughter with her real estate career in Roanoke.  

May 20, 2015 11:01 PM
Warren Schutt
Warren Schutt Real Estate - Danbury, CT
Helping People with Their Moves for over 40 Years

Retirement requires an exit strategy. There is nothing wrong with referring your clients to someone you trust and does business the way you do. You can still be in touch with your clients through the transaction as you like, you will still receive some compensation for your long years in the business and you wouldn't have to commute all that way every day. After all those years in business, it is well worth taking some time to relax. And if you have energy you want to use, try volunteering - it also can be very rewarding.

Enjoy your retirement!!!

May 26, 2015 03:12 AM
Claude Labbe
RLAH / @properties - Washington, DC
Realty for Your Busy Life

You cannot keep a good realtor down, so, nope, you're not stopping.

Sorry to break that to you, but the world won't allow it.

Enjoy Delaware, just don't forget Crofton.

 

May 26, 2015 02:43 PM
Margaret Woda
Long & Foster Real Estate, Inc. - Crofton, MD
Maryland Real Estate & Military Relocation

Sorry to anyone whose comment I haven't acknowledged yet... Moving, unpacking, house guests, and doing real estate do not allow much time for anything else.  I hope to have a day or two this week to catch up!

Jun 01, 2015 03:29 AM
Roy Kelley
Retired - Gaithersburg, MD

Stop that daily commute by referring those clients to associates. Walk the beach and enjoy the referral fee checks as they arrive.

Jun 16, 2015 03:33 AM
Cheryl Ritchie
RE/MAX Leading Edge www.GoldenResults.com - Huntingtown, MD
Southern Maryland 301-980-7566

Wow, what a great testimonial to a business we'll run to continue to receive these repeat clients and referrals.

Jul 11, 2015 04:52 AM
Margaret Woda
Long & Foster Real Estate, Inc. - Crofton, MD
Maryland Real Estate & Military Relocation

Update to the retirement question...

Nope, not possible. I've pretty much decided to continue doing Crofton area real estate, in spite of the long commute, and not invest in learning a new market and working to grow a clientele in another state. So far, no one has been put off by my up-front announcement that I now live in another state, 2 hours from Crofton... They seem to be appreciative that I'm willing to make the drive and have the resources to continue serving that area.  So... don't overlook me if you have a Crofton referral!

Jul 11, 2015 05:17 AM
Wayne B. Pruner
Oregon First - Tigard, OR
Tigard Oregon Homes for Sale, Realtor, GRI

You jumped the gun too early. Your actions are not of the one who really wants to retire. The "next time" you decide to retire will be the real one.

Aug 04, 2015 01:25 PM
Margaret Woda
Long & Foster Real Estate, Inc. - Crofton, MD
Maryland Real Estate & Military Relocation

Wayne B. Pruner , that may be true... LOL. But moving to another state kinda forces the issue, doesn't it?  I just don't want to learn new forms and new communities in the new state. But I figure that new business will eventually dry up in Maryland and then I can enjoy the wonderful beaches and golf courses near my new home. Until then, it seems kinda silly to turn down business I've earned through 42 years of creating a strong referral and and repeat business. 

Aug 06, 2015 01:31 AM
LUXURYSOCALREALTY COMPASS La Jolla
Compass - La Jolla, CA
San Diego Partner - The Private Client Network

Very impressive Margaret Woda I'm  only entering year five.  Can't imagine how it will be after 10 years let alone 40.

Jan 04, 2016 03:40 PM