You have had a wonderful career as a real estate agent. You love your work, but are starting to think about what it would be like to retire. It's easy to notice those in their fifties and sixties who have worked a corporate, state or government job and are retiring with pensions and 401K's that were matched by their companies. Not so for real estate agents. With the economy as such, working for years to come may be a reality for many.
Selling your business may be an option. Creating a plan and working with a junior agent when you are a year or two from retirement will make for a smooth transition. According to an Inman News article by Gill South reporting on the results of a survey sent to 443 agents, 34 percent said they would keep their book of business and sell referrals, while 31 percent said they did not have a plan for their client database and 11 percent planned to sell their business.
Affiliating with a real estate company that has a profit sharing plan can also help bring in income in retirement. Keller Wiliams has a profit share system that is outstanding. You can build retirement savings from helping the company to grow. The money you receive is a portion of the profit from the market center. The profit share you accumulate will continue to pay dividends into your retirement. If you choose, you can continue to accumulate profit while you are retired. It is real. I am receiving passive income $$ from profit share. You can too.