I think it is odd that most realtors do not own their own home (at least in this area, it is somewhere around 70% that do not). However, maybe in other areas of the country it is much better than that.
Since we are commission only, why don't we buy more of the product we are selling in order to create a retirement for ourselves?
I met a man who retired from Boeing because he was making the same amount from his rental properties as he was making at Boeing. He could retire earlier and take a partial payment and in essence create a pay raise (rental properties would be equivalent to his paycheck and early retirement would be the pay raise). So why don't we do this and practice what we preach?
For those brokers out there, why don't we hold classes in the offices for teaching agents how to do this? It would also help them understand a market that they don't have any experience in.
I do practice what I preach and own rentals, but I owned them before I became an agent. I am also working on developing a class for the agents in my office.
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