Thursday, April 19, 2012

AN INTERESTING FACT ABOUT REAL ESTATE AGENTS

 

AN INTERSTING FACT ABOUT REAL ESTATE AGENTS

Most of our owners of properties in our rental department are heading towards being better off in their retirement planning than most real estate agents in Australia according to Robert Bevan of Best Practice, one of Australasia’s foremost trainers.
The reason is that 60% of real estate agents have a return of 5% from their businesses after taking out their personal sales and have no assets when they retire.
The next 30% have better returns but still no assets.
How can this be?
I think the simple answer is that they are like the average person in this country....living to 110% of their income.
The other reason is that they often fail to follow their own advice or fail to understand the way to achieve a financially secure future.
My experience is that people trying to get ahead fail to understand some basic principles of securing a comfortable retirement.

The kinds of boring things like
1. Make a plan
2. Stick to the plan
3. Understand that there is a direct relationship between risk and return.
4. One of the key features of any sound plan is to protect what you already have through insuring your income and life.
5. Understand the rule of 72.
6. Decide what you are prepared to give up to get what you want.
7. Never stop learning.
8. If it sounds too good to be true...it probably is.
9. Understand the difference between speculating and investing.
10. Only speculate with money you can afford to lose.

If you ever care to discuss your ideas about the above you can always contact me on
rosscutten@noblerealestate.com.au
Ross Cutten
Owner / Director
Noble Real Estate


1 comment:

  1. “Never stop learning.” – I definitely agree with this tip. Businesses and professions are constantly evolving, especially in the field of real estate. New trends emerge, and the technology is continuously growing. As a real estate agent, it is important to update yourself to adapt with the changing times. Do some research, and keep yourself updated on news and current events, especially on things that are related to your field.

    -Lance Valenzula

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