Avoiding Common Realtor Mistakes | What Works Wednesday
September 30, 2025
In this episode of What Works Wednesday, Leland Gross and Cody Hawkins discuss the common mistakes made by realtors, emphasizing the importance of treating oneself as a business owner. They explore issues such as cash flow management, tax preparedness, and retirement planning, providing insights on how realtors can improve their financial practices and achieve greater success in their careers. The conversation highlights the need for proactive financial management and the benefits of establishing clear business and personal financial boundaries.
Takeaways:
- Realtors should treat themselves as business owners.
- Erratic cash flow management is a common issue among realtors.
- Separating business and personal finances is crucial.
- Many realtors are unprepared for tax season.
- Tax planning should be a year-round activity.
- Realtors often fear tax penalties and underpayment.
- Understanding net profit is essential for financial clarity.
- Retirement planning is critical for self-employed professionals.
- Realtors can defer significant amounts for retirement savings.
- Creating a business plan helps in setting realistic financial goals.