No real estate agent wants to live pay check to paycheck…yet 80% of agents are living this way! The reason for this is because agents are not properly managing their money. So, what should you do once you get your commission check?
The average agent receives their commission check and then deposits it directly into their personal bank account. This approach has no automation and more often than not leads to over spending. The first thing you want to do is get a business account. Then use these tips to get you started on the road to being financially unstoppable.
Go to (3:20) to hear the first piece of advice to becoming financially stable
Go to (5:59) to find out what 80% of agents are doing wrong
Go to (8:15) to get the right structure in place to be financially #unstoppable
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By Stock Chat

where the coffee is hot and so is the chat

21 thoughts on “3 tips for real estate agents to stop living paycheck to paycheck #tomferryshow episode 35”
  1. Avataaar/Circle Created with python_avatars Renata Pammer says:

    Yes, I invested some money and they've stolen from me. So it made thinking. Better to enjoy life or worry where you put your money

  2. Avataaar/Circle Created with python_avatars Meg Thompson says:

    Question: awesome lessons here Tom. what if you're currently not earning any income, how do you determine what figures you start your projection with?

  3. Avataaar/Circle Created with python_avatars Keith Bryan says:

    Biggest takeaway – 3 tips for avoiding living paycheck to paycheck. Only 5% of the population create generational wealth, 80% retire broke. 1) Have a 10 yr earnings forecast 2) Three types of agents a) Agent who deposits directly into the checking account and starts writing checks b) Agent who deposits check and then divides it up between other accounts (Tax, Vacation, Buy a new House, Household expenses, Business, etc…) 3) Learn to manage your money wisely!! 4) Develop a Mantra 5) Establish a 1,3,5 yr goal 6) Create accountability 7) Build a financial team (CPA, Banker, etc….) 8) Keep learning (bettermoneyhabits.com) 9) grow your business income.

  4. Avataaar/Circle Created with python_avatars RUBEN AGUIRRE JR. says:

    This guy has never sold a stitch of real estate, he doesn't even have a license. He's a businessman and he found a way to make a fortune off of Real Estate Agents. An inflated over priced coaching program that supposedly make agents rich. I'm sorry, but this doesn't balance out for me!

  5. Avataaar/Circle Created with python_avatars Mike Vera says:

    Excellent, excellent, excellent. Thank you Tom!

  6. Avataaar/Circle Created with python_avatars Robert Santangelo says:

    All that is great but it cannot account for market corrections. The 2nd great depression crushed a lot of people and their wealth, no matter how self aware they were or how hard they worked.

  7. Avataaar/Circle Created with python_avatars Rosa says:

    Great advice for someone new to the business.

  8. Avataaar/Circle Created with python_avatars eddie haeffer says:

    … things we don't think about, I'm going to the bank and implementing this today! Thank You!

  9. Avataaar/Circle Created with python_avatars Holly Misic says:

    Never doubt him…* hahaha! Sorry, said that one backwards!

  10. Avataaar/Circle Created with python_avatars Holly Misic says:

    Never a day goes by that I don't doubt this guy! He's so right on!!

  11. Avataaar/Circle Created with python_avatars tomer amar says:

    I love to watch your videos.very good tips for life!

  12. Avataaar/Circle Created with python_avatars Vincent De Rouen - Intero Real Estate Services says:

    Great video Tom, I totally agree with your message and will definitely be sharing this.

  13. Avataaar/Circle Created with python_avatars The Dudley Real Estate Group says:

    "For those Hard Core Operators": what are the other things we could do with our checks? Q4 and moving forward is exactly what you're telling us here. I used to be the 1st one- money comes in, money gets spent, I remain broke… – that will change NOW.

  14. Avataaar/Circle Created with python_avatars Tondaleya Carter says:

    Finance should be taught to agents as they obtain their license. This could decrease the failure rate. Reality is always needed. Great video Tom!

  15. Avataaar/Circle Created with python_avatars Jessica Tremonti says:

    Another great video!

  16. Avataaar/Circle Created with python_avatars Matt Smith says:

    great post Tom! Agents need much more of this!

  17. Avataaar/Circle Created with python_avatars Tiffany ‘Realtor Lady’ Davis says:

    Thanks Tom! Great video!

  18. Avataaar/Circle Created with python_avatars HeyRenae says:

    Tom – I just spent 4 hours with you over the last week and I have to say it was life altering. This video is so true. Making changes NOW!

  19. Avataaar/Circle Created with python_avatars Fred Louis says:

    Is anyone else taking notes? I always have a pen in my hand and a blank piece of paper in front of me for these videos.

  20. Avataaar/Circle Created with python_avatars Vanda Martin says:

    Such a great Video, Tom. Many people still get uncomfortable talking about Money, and It's so very important! Thank you!!

  21. Avataaar/Circle Created with python_avatars Jose Medina says:

    thanks for "agent gps" going into the right direction from now on. Thanks Tom

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