Retirement Saving Does NOT Equal Retirement Planning

I’ve had endless conversations with my financial advisor about retirement planning. The discussions normally revolve around accumulating assets.  I hear the phrase “Streams of Income”. I have a 401K & Roth so I guess I am saving for retirement. Perfect, RIGHT? Almost!

What about my book of business, my relationships, the years of helping my friends, old and new, transition their lifestyles thru the best and worst situations? What happens to year after year of smiles and tears, marriages and partings, baby showers and memorial services?

And could I sell my book of business? Actually, no I can’t! Selling my book of business is an outdated concept in an industry where a couple clicks of a mouse can generate many Realtor phone calls before you can say “Zestimate Schmestimate”.

Invest in bonds? Straight up, I expect my most reliable stream of income will be from the bonds I have already built with my clients.  So, my options seem to be:

Sell my book of business? – No, we already decided that was unlikely in today’s world.

  1. Hang my License with my Broker’s in house referral program? A fine idea if I was going to refer one or two deals a year. It saves on association fees and is budget friendly, but then I’m not eligible to participate in any real estate transaction at all. Can I really do this? And I cannot be advertised as a Realtor – no business cards, no website, no drip campaigns. I am off the real estate grid! Moment of truth, admit it. You have had a member of your sphere buy or sell thru someone else because they thought you left the business and you were STILL ACTIVE. Imagine going inactive? Referrals will dry up when I am viewed as retired. Yikes! Not for me!
  2. Transfer my business to a son, daughter, or hand-picked protégé? A mini – me? I like this! I have seen this done successfully and when it works it is beautiful!! This idea has legs if I had the right person and time. But that’s the question, do I have enough time? See the sidebar (How Will You Train Your Successor) at the right of this article for more info. >>>
  3. Or lastly, find a way to retain an active license, retain an active advertising presence, retain visibility as a Realtor, eliminate broker splits, eliminate advertising fees and other costs, and minimize my direct involvement in my business without abandoning my clientele. And most importantly, retain a long term “Stream of Income”. This model seems to fit my desires best. GREAT NEWS – IT EXISTS TODAY! This is what I call retirement planning! This is what Stepping UP! is all about! Check us out, call one of us for a confidential explanation in an out-of-the way location for privacy.
Lori Mares, Realtor, Long Realty Company

Understanding What We Do

Stepping UP! is a unique business model that focuses on agents who need more time to themselves – retirement, medical, family, etc.  We become YOUR Team!  We market YOU at OUR expense as expanding and building a Team.  And we know how to make the transition seamless to your clients!  Don’t sell your business for a measly $10-30,000 when you can earn 10 times that with Stepping UP! and not work at it!  And pay ZERO Long Realty Splits.

How Will You Train Your Successor?

 So, you’re not sure your successor is ready to tackle you grand book of business.  Can he/she handle the details?  Will he show up?  Will she spend the marketing dollars?

The best successor model can be a son, daughter or hand-picked protégé.  But it takes years to mentor and train them.  Have you had that time?  We can help, we want to see a successful transition, it’s what we do!  If it doesn’t work out for you, then we can become your “B Plan”.

Our Team can mentor, train, and cover the marketing and details for you.  We’ll manage it all while you’re traveling and relaxing.  There’s no long term commitment with our Teams.  We just don’t want to see your clientele abused or forgotten – there’s too much already invested in them.  We’ve actually increased the sales volume from spheres through our system of outreach and marketing.  Check us out!

Tom Ebenhack, Long Realty Company

Leave a Reply