This is a question agents ask themselves several times in their career! But do they really think about it and make sure they are taking a deep dive look into themselves and their business? The answer is no!
I know that I have had this question in my head numerous times in my 19 year real estate career. I left corporate America, and all the restraints and stress to be financially free, have the ability to control my schedule and go on vacation whenever I wanted. More family time, more memories and on and on.
The Truth about Real Estate
The truth about this business, is you are married to it! We are guilty of putting our career and clients first. Not ourselves. Not our families. Not even God! This is not what I wanted! I was always on the search to figure out how to make the money I wanted to enjoy my time, family and life! I worked for several real estate brands but it was always the same hamster wheel. Run, run, run, chase that dangling carrot!
Build a big team, micro manage your team. They leave, hire and train more. Get more listings, spend more money, work with more buyers that cannot make up their minds and are not loyal. Deals falling apart at the last minute. People reminding you they don’t NEED to sell or buy! It is a stressful roller coaster ride! You build your business but then you are told you are a work-a-holic. You make good money but now you have to keep up the rat race. No exit plan.
Now I have had agents tell me they get a high from selling. It is like winning a poker game. They love it and can’t see themselves not selling. I will give you that. It is fun when things are rocking and rolling. But when the market shifts and you have to work 1000 times harder to make money because the bills don’t stop, are you having as much fun now? Is the high still there? Nope!
Got a Plan? An Exit Stategy?
So what is your plan to eventually slow down or retire from real estate? Can you? What if you get sick or a family member does and you can’t work like you do now? What is your plan?
What about your family, are they ok with you not being able to go on vacation without working too? Are they ok with you leaving a gathering or dinner early because you have an offer to write or a home to show? Are they ok with you missing their important events? No, my friend, they are not. They will and do resent you!
Career or Hobby
If you have built a career and did not treat this has a hobby, you now make too much money in real estate to go get another job or a different career. It is hard to walk away from. So you just keep on doing what you know. Miserable, stressed and depressed. How and when is this going to stop? You are not living the life you imagined!
Ok so did any of this resonate with you? It should. If you truly are running a real estate business you have experienced more headaches and hardship than you want to admit. Too much overhead, too many expenses, no freedom, not enough money saved for retirement!
Attention New Agents!
If you are a new agent this may be scaring you and you are now wondering why you got into real estate. These issues do exist but with the right company, the right plan and the right partners it can feel a whole let better. You have money coming in between commissions, every month, you are awarded for you your work and you are an owner. You now have the exit plan and are fortunate enough to start building your exit strategy now rather than than waiting 20 plus years to think about it or start one.
100% of Your Own Efforts!
I have had agents working for 100% commission brokers say they can buy their own stocks. They don’t need a real estate company to give them ownership and stocks. I call bullshit! Do you think these agents are putting money aside to buy stocks? Are they putting enough money in their savings account to retire? No way. They are getting 100% of their own efforts, no leverage and once they stop or can’t work they have 100% of nothing. They have been renting their business and have no equity!
Cold Hard Facts
Listen up you 100% commission agents! If you are not able to save at least 900k by the time you are 65, you are not retiring. You will literally run out of money and you will be struggling to meet ends meet.
Do yourself a favor and get real with yourself? Your Broker is working on his retirement. He knows how many agents he needs in order to get said amount money from them in order to build his retirement. He is building leverage. He knows you will keep working and he will keep reaping. If stop producing you are replaceable. He knows his numbers. You are apart of his plan. He has convinced you that you are right where you need to be. Making 100% of your commission. Living the dream!
I worked for a 100% company but I had to pay $1000 a month every month whether I had a closing or not. When the market crashed and I was not able to closes 5 or more homes a month, I had to choose to pay my broker or my mortgage. I chose my mortgage then had to find a broker with a lower monthly cost and a decent split. But even then it was still traditional real estate. Today there are lots of smaller companies that are offering agents 100% commission after they pay them a cap of lets say 5k or less. Until they do pay this amount they are on a 50/50 split. So that is ok if all you are concerned with is your business today. This is not a retirement plan. It is not looking at the end of the tunnel or the big picture. Nothing wrong with it. But no ownership and no leverage. Still 100% just you and your effort. Yes you can build a team under this company but you can only grow so big. You want a company that you can grow your team nationally and internationally. This creates true leverage.
A Broken System
Traditional real estate is set up to make the companies and owners money. Not the agents. The agents do all the work and it is their relationships and clients. But they top is who benefits. I knew this system was not for me or about me but I did not think there was a way for it to change or be better.
I am happy to say that Glenn Sanford experienced all of the above and more. He decided that he would create the platform that fixed this problem.
It is called eXp Realty! It is a game changer for our industry. No other company out there, currently, is built for the agents, with the agents and about the agents. It’s our company! It is our exit plan!
Watch this video where one of my partners, Robyn Mosner and I breakout on opportunity that can change your career, give you an exit plan and create the freedom you long for!
Today is the day to make a decision to dive deep into your business. Look at the next 5, 10, 20 years of your career. If you keep doing what you are doing today, will your future look any different than it does right now?
Take action, see the opportunity in front of you and take it! Do not miss out and be kicking yourself down the road.
I want to help you create your back up plan. I want to help you help yourself and family have they lives you want and deserve.
Let’s work together! Lets go!
Text me at 406-309-1022 and say I am in! Let’s partner up and get to work! Let’s make real estate fun again!
Thanks for stopping by!