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A real estate agent salary can vary depending on commissions, the market conditions, unemployment rates, the stock market and many other factors out of your control. With the overwhelming majority of agents working solely for commissions, is it any wonder why so many real estate agents and real estate brokers are setting up alternative side businesses to hedge against another housing crash?
The smart agents and brokers diversify their income and make absolutely sure that they have multiple streams of income coming in – just like diversifying yourself in the stock market, it protects you, your family and your assets in the event of another loan crisis.
It’s not just a good idea – it’s almost critical at this point. What would an extra 00 or 00 a month mean to you? Security? Stability? Most agents live on the edge, paycheck to paycheck and when a deal falls through that they were counting on, what happens? What is the back up plan?
Smart real estate agents and brokers know that another stream of income can insulate them against the unknown. And even if you don’t have a crisis, then that extra money each month can come in very handy.
And then there are those real estate agents like myself who want out of the grind – that need the freedom to travel and not worry about where the next listing is coming from. Complete freedom from dealing with attorneys, escrows, loan officers (no offense to the professionals in the mortgage industry… ) and all the BS that can keep you running 12-15 hours a day.
I loved it but I got burned out after 14 years and was ready for a change.
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