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RETIRING FROM REAL ESTATE

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For many years I have seen REALTORS® walk away from their real estate businesses and have wondered why?

Within the past year I have discussed this with REALTORS®, Brokers & Coaches only to find that this is very common. It is now time to put a STOP to this foolish behavior. We are REALTORS® need to take charge and send referrals to Brokers and/or REALTORS® to secure referral income for our retirements (providing your real estate regulator permits this).

If anyone is interested in learning more about the Retiring Client Referral Program that I have developed please contact me and I would be happy to share with how such a program could benefit a retiring REALTORS® and the brokerage.
  • | 01 Sep 2015, 01:48 PM Agree 0
    Hey I am interested....send e some info on it or email me at karen.amos@century21amosrealty.ca
  • Al Daimee - RLP Signature Realty, Toronto, ON | 18 Nov 2015, 11:12 AM Agree 0
    This is a common practice in the financial investment industry... a retiring broker will sell their book of business and/or create a referral program for that book of business. With the increasing number of "ready-to-retire" real estate agents ready to exit when the boom is finally over (I am personally referring to Toronto and Vancouver) , it only makes sense that arrangements are made now to create alliances where a mid-career agent will find the retiring agent's book of business both attractive and beneficial.

    I would personally consider this to be a viable option as a REALTOR® who has been in the business for 10 years. The portfolio of these senior agents are quite enviable and I would be happy to work with someone who is looking to draw future income while embracing retirement.
  • | 17 Feb 2017, 10:24 PM Agree 0
    I am interested in how this is executed please email me
    Nsmith837@gmail.com
    Nancy Smith
    White Rock BC
  • S. Foster | 17 Mar 2017, 04:30 PM Agree 0
    I am someone in the financial industry. There are two potential streams of income for the retiring or selling financial advisor. The amount paid would depend on the value perceived by and potential purchaser (and a number of variables). The value is is part based on recurring revenues. In the financial industry, a financial advisor has an ongoing book of clients from year to year who are paying both fees and commissions that are transferred to the new advisor as part of a retirement or succession plan. The source of funds can easily be audited.

    My understanding of real estate compensation is that it is currently primarily transaction based. If the seller has a book of clients who will be paying fees or commissions in the year after purchase
    1. the "buyer" might pay the seller for their on-going potential marketing efforts, in the form of a referral fee and/or
    2. the "buyer" might be willing to pay an amount based on the recurring revenue anticipated from clients (not prospects) transferred to the buying advisor (however, at this point I don't see how this second stream applies to the transaction based real estate compensation). The buyer might require a claw back clause in the event this revenue does not materialize
    A brokerage (with a number of real estate professionals) would be valued on a slightly different basis.

    Sandra Foster, CFP TEP CIM FCSI author of Buying and Sellling a Book of Business: What every financial advisor and planner should know, and the 6th edition of You Can't Take it With You: Common-Sense Estate Planning for Canadians www.headspringconsulting.com
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