Want to get rich?
Then you should just keep buying a diverse set of income producing assets.
While this advice sounds easy enough, the hard part comes when deciding whatkind of income-producing assets to own.
Most investors rarely venture past stocks and bonds when creating an investment portfolio. And I don't blame them. These two asset classes are quite popular and are great candidates for building wealth. However, stocks and bonds are just the tip of the investment iceberg. If you are really serious about growing your wealth, you should consider everything that the investing world has to offer.
To this end, I have compiled a list of the 9 best income-producing assets that you can use to grow your wealth. Note that this list isn't a recommendation, but a starting point for further research. Because I don't know your current circumstances, I can't say which, if any, of the following assets would be a good fit for you.
Personally, I only own 4 of the 9 asset classes listed below because some of them don't make sense for me (at least at this point in time). I advise that you evaluate each asset class fully before adding/removing anything from your portfolio.
With that being said, let's begin with the grandaddy of them all...
1. Stocks/Equities
If I had to pick one asset class to rule them all, stocks would definitely be it. Stocks, which represent the equity (i.e. ownership) in a business, are great because they are one of the most reliable ways to create wealth over the long run. Just read Triumph of the Optimists: 101 Years of Global Investment Returns or Stocks for the Long Run or Wealth, War, & Wisdom and you will get the same message---equities are an incredible investment.
And I don't just mean equities in the U.S. either. As I have highlighted before, the record of history shows that stocks all over the world have been able to deliver consistent long-term returns (3%-6% above bills):
Of course, is it possible that the 20th century was a fluke and future equity returns are doomed? Yes, but I wouldn't bet on it.
More importantly, stocks are an amazing investment because they require no ongoing maintenance on your part. You own the business and reap the rewards while someone else (i.e. the management) runs the business for you.
So, how do you buy stocks? Well, you can purchase individual stocks (which I generally don't recommend) or you can buy a fund that get you broader stock exposure. For example, an S&P 500 index fund will get you U.S. equity exposure while a "Total World Stock Index Fund" will get you worldwide equity exposure.
Of course, opinions differ on which kinds of stocks you should own. Some argue that you should focus on size (i.e. smaller stocks), some argue that you should focus on valuations (i.e. value stocks), and some argue that you should focus on price trends (i.e. momentum stocks). There are even others that suggest that owning stocks that pay frequent dividends is the surefire way to wealth. As a reminder, dividends are just profits from a business that are paid out to its shareholders (i.e. you). So if you own 5% of a business that pays out a total of $1M in dividends, you would receive $50,000. Pretty nice, huh?
Regardless of what stock strategy you choose, having some exposure to this asset class is the most important part. Personally, I own U.S. stocks, developed market stocks, and emerging market stocks from three different equity ETFs along with a handful of positions tilted toward smaller, value stocks. Is this the optimal way to invest in stocks? Probably not. But it works for me and should do well over the long run.
However, despite all the praise that I have just given to stocks, they are not for the faint of heart. As I once stated:
For equities, you should expect to see a 50%+ price decline a couple times a century, a 30% decline once every 4-5 years, and a 10% price decline at least every other year.
It is this highly volatile nature of stocks that makes them difficult to hold during turbulent times. Seeing a decade's worth of growth disappear in a matter of days can be gut-wrenching even for the most seasoned investors. But what makes these declines especially troubling is when they are based on shifting sentiment rather than changes in underlying fundamentals.
The best way to combat such emotional volatility is to focus on the long-term. While this does not guarantee returns (i.e. see Japan), the evidence of history suggests that time is a stock investor's friend, not foe.
Stocks/Equities Summary
Average compounded annual return: 6%-10%
Pros: High historic returns. Easy to own and trade. Low maintenance (i.e. someone else runs the business).
Cons: High volatility. Valuations can change quickly based on sentiment rather than fundamentals.
2. Bonds
Now that we have discussed the high-flying world of stocks, let's discuss the much calmer world of bonds.
Bonds are merely loans made from an investor to a borrower to be paid back over a certain period of time (i.e. the term/tenor/maturity). Many bonds require periodic payments (i.e. coupons) paid to the investor over the term of the loan before the full principal balance is paid back at end of the term.
The borrower can either be an individual, a business, or a government. Most of the time when investors discuss bonds they are referring to U.S. Treasury bonds, or bonds where the U.S. government is the borrower. U.S. Treasury bonds come in various maturities/terms and have different names based on the length of those terms:
Treasury bills mature in 1-12 months
Treasury notes mature in 2-10 years
Treasury bonds mature in 10-30 years
You can find the interest rates paid on U.S. Treasury bonds for each of these terms online here. Additionally, if you need help deciding whether to own short-term, medium-term, or long-term Treasury bonds, I wrote this guide here.
Besides U.S. Treasury bonds, you can also purchase foreign government bonds, corporate bonds (loans to businesses), and municipal bonds (loans to local/state governments). Though these kinds of bonds generally pay more interest than U.S. Treasury bonds, they also tend to be riskier.
Why are they riskier than U.S. Treasury bonds? Because the U.S. Treasury is the most creditworthy borrower on the planet. Since the U.S. government can just print any dollars they owe at will, anyone who lends to them is virtually guaranteed to get their money back. This is not necessarily true when it comes to foreign governments, local governments, or corporations.
This is why I tend to only invest in U.S. Treasury bonds. If I wanted to take more risk in my portfolio, I wouldn't take it with my bonds. In fact, I recommend bonds as an income-producing asset because of the other properties that they exhibit. In particular, bonds:
1. Tend to rise when stocks (and other risky assets) fall.
2. Can provide "dry powder" when rebalancing your portfolio.
3. Have a more consistent income stream than other assets.
Unlike stocks and other risky assets, bonds have lower volatility which makes them more consistent and dependable even during the toughest of times. As I illustrated, those portfolios with more bonds (i.e. Treasuries) performed better during the 2020 coronavirus crash:
More importantly, those that had bonds and were able to rebalance during the crash saw an even bigger benefit during the recovery that followed. Because of my Treasury bonds I was lucky enough to rebalance on the day of the 2020 market bottom. Yes, this timing was luck, but owning bonds in the first place was not.
So how can you buy bonds? You can choose to buy individual bonds directly, but I recommend buying them through bond funds because it's much easier. If you think that owning individual bonds is somehow different from owning bonds in a fund, please read this and this to convince yourself otherwise.
Regardless of the kinds of bonds you consider buying, they can play an important role in your portfolio beyond providing growth. As the old saying goes:
We buy stocks so we can eat well, but we buy bonds so we can sleep well.
Bonds Summary
Average compounded annual return: 2%-4%
Pros: Lower volatility. Good for rebalancing. Safety in principal.
Cons: Low returns, especially after inflation. Not great for income in a low-rate environment.
3. Investment/Vacation Properties
Outside of the realm of stocks and bonds, one of the next most popular income-producing assets is an investment/vacation property.
Owning an investment property can be great because not only does it provide you with a place to relax, but it can also earn you extra income. If you manage the property correctly, you will have other people (i.e. renters) helping you to pay off the mortgage while you enjoy the long-term price appreciation on the property. Additionally, if you were able to borrow money when acquiring the property, your return will be a bit higher due to the added leverage.
If this sounds too good to be true, it's because it is. While there are many upsides to owning a vacation rental, it also requires far more work than many other assets that you can "set and forget." Owning an investment/vacation property requires the ability to deal with people (i.e. renters), list the property, provide ongoing maintenance, and much more. While doing all of this, you also have to deal with the added stress of having another liability on your balance sheet.
When this goes right, owning an investment property can be wonderful, especially when you have borrowed most of the money to finance the purchase. However, when things go wrong, like they did in 2020, they can go really wrong. As many AirBnb entrepreneurs learned this year, vacation rentals aren't always so easy.
While the returns on investment properties can be much higher than stocks/bonds, these returns also require far more work to earn them. If you are someone that wants to have more control over their investments and like the tangibility of real estate, then you should consider an investment/vacation property as a part of your portfolio.
Investment/Vacation Property Summary
Average compounded annual return: 12%-15% (can be much higher/lower depending on specific circumstances)
Pros: Bigger returns than other more traditional asset classes, especially when using leverage.
Cons: Managing the property and tenants can be a headache. Less diversified.
4. Real Estate Investment Trusts (REITs)
If you like the idea of owning real estate, but hate the idea of managing it yourself, then the real estate investment trust (REIT) might be right for you. A REIT is a business that owns and manages real estate properties and pays out the income from those properties to its owners. In fact, REITs are legally required to pay out a minimum of 90% of their taxable income as dividends to their shareholders. This requirement makes REITs one of the most reliable income-producing assets on the market.
However, not all REITs are the same. There are residential REITs that can own apartment buildings, student housing, manufactured homes, and single-family homes, and commercial REITs that can own office buildings, warehouses, retail spaces, and other commercial properties. In addition, REITs can be offered as publicly-traded, private, or publicly non-traded:
Publicly-traded REITs: Trade on a stock exchange like any other public company and available to all investors.
Anyone who owns a broad stock index fund already has some exposure to publicly-traded REITs, so buying additional REITs is only necessary if you want to increase your exposure to real estate.
Instead of buying many individual publicly-traded REITs, there are publicly-traded REIT index funds you can buy instead.
Private REITs: Not traded on a stock exchange and only available to accredited investors (i.e. people with a net worth >$1M or annual income >$200,000 for the last 3 years).
Requires a broker, which may result in high fees.
Has less regulatory oversight.
Less liquid due to longer required holding period.
May generate higher returns than public market offerings.
Publicly non-traded REITs: Not traded on a stock exchange, but available to all public investors.
More regulatory oversight than private REITs.
Minimum investment requirements.
Less liquid due to longer required holding period.
May generate higher returns than public market offerings.
Though I have only ever invested in publicly-traded REIT index funds, real estate crowdsourcing firms like Fundrise are a non-traded alternative that could offer higher long-term returns. If you want to dig deeper into the publicly-traded vs. non-traded REIT discussion, I recommend reading this article from Fundrise, Investopedia, and Millionacres, a Motley Fool service for more information.
No matter how you decide to invest in REITs, they generally have stock-like returns (or better) with a slightly lower correlation (0.5-0.7) during good times. Like most other risky assets, public-traded REITs tend to sell off during stock market crashes. Therefore, don't expect many diversification benefits on the downside when owning them.
REITs Summary
Average compounded annual return: 10%-12%
Pros: Real estate exposure that you don't have to manage.
Cons: Higher volatility. Less liquidity for non-traded REITs. Highly correlated with stocks and other risk assets during stock market crashes.
5. Farmland
Outside of real estate, farmland is another great income-producing asset that has been a major source of wealth throughout history. Today, one of the best reasons to invest in farmland is its low correlation with stocks and bonds since farm income tends to be uncorrelated with what is happening in financial markets.
In addition, farmland has lower volatility than stocks while also providing inflation protection. Because of this asymmetric risk profile, farmland is also unlikely to "go to zero" unlike an individual stock/bond. Of course, the effects of climate change may alter this in the future.
What kind of returns can you expect from farmland? According to Jay Girotto on the Capital Allocators Podcast with Ted Seides, farmland is modeled to return in the "high single digits" with roughly half of the return coming from farm yields and half coming from land appreciation.
How do you invest in farmland? While buying individual farmland is no small undertaking, the most common way for investors to own farmland is through a publicly-traded REIT or a crowdsourced solution like FarmTogether or FarmFundr. The crowdsourced solution can be nice because you have more control over which farmland properties you specifically invest in.
The downside of crowdsourced solutions like FarmTogether and FarmFundr is that they are only available to accredited investors (i.e. people with a net worth >$1M or annual income >$200,000 for the last 3 years). In addition, the fees for these crowdsourced platforms can be a bit higher than with other public investments. For example, FarmTogether charges a 1% fee on all initial investments along with an ongoing 1% management fee, while FarmFundr structures deals to either own 15% of the equity or impose a 0.75%-1% management fee along with a 3% sponsor fee. I don't think these fees are predatory given the amount of work that goes into structuring these deals, but if you hate the idea of fees, this is something to keep in mind.
Farmland Summary
Average compounded annual return: 7%-9%
Pros: Not as correlated with stocks. Good inflation hedge. Lower downside potential (land less likely to "go to zero" than other assets)
Cons: Less liquidity (harder to buy/sell). Higher fees. Requires "accredited investor" status to participate.
6. Small Businesses/Franchise/Angel Investing
If farmland isn't for you, maybe you should consider owning a small business or part of a small business. This is where angel investing and small business investing come in. However, before you embark on this journey you have to decide whether you will operate the business or just provide investment capital and expertise.
Owner + Operator
If you want to be an owner + operator of a small business/franchise, just remember that as much work as you think it will take, it will likely take more. As Brent Beshore, an expert on small business investing, once tweeted:
Here's what it takes to run a Subway restaurant.
[links to 800 page operator's manual]
Now imagine trying to run a $50M manufacturer.
I don't mention Brent's comments to discourage you from starting a small business, only to provide a realistic expectation for how much work they require. Owning and operating a small business can generate much higher returns than many of the other income-producing assets on this list, but you have to work for them.
Owner Only
Assuming you don't want to go down the operator route, being an angel investor or passive owner of a small business can earn you very outsized returns. In fact, according to multiple studies (see here and here), the internal rate of return on angel investments is in the 20%-25% range.
However, these returns aren't without a very large skew. An Angel Capital Association study found that just 1 in 9 angel investments (11%) yielded a positive return. This goes to show that though some small businesses may become the next Apple, most never make it far past the garage. As Sam Altman, famed investor and President of YCombinator, once wrote:
It’s common to make more money from your single best angel investment than all the rest put together. The consequence of this is that the real risk is missing out on that outstanding investment, and not failing to get your money back (or, as some people ask for, a guaranteed 2x) on all of your other companies.
This is why small business investing can be so tough, yet also so rewarding.
However, before you decide to go all-in, you should know that small business investing can be a huge time commitment. This is why Tucker Max gave up on angel investing and why he thinks most people shouldn't even start. Max's argument is quite clear---if you want access to the best angel investments (i.e. big, outsized returns) then you have to be deeply embedded in that community. Therefore, you can't do angel/small business investing as a side thing and expect big results.
While firms like Microventures allow retail investors to invest in small businesses (with other opportunities for accredited investors), it is highly unlikely Microventures is going to have early access to the next big thing. I don't say this to discourage you, but to reiterate that the most successful small business investors commit more than just capital to this pursuit.
So if you want to be a small business investor, keep in mind that a larger lifestyle change may be warranted in order to see significant results.
Small Business Summary
Average compounded annual return: 20%-25%, but expect lots of losers.
Pros: Can have extremely out-sized returns. The more involved you are, the more future opportunities you will see.
Cons: Huge time commitment. Lots of failures can be discouraging.
7. CDs/Money Market Funds
Certificates of Deposit (CDs) and money market funds are both low-risk investment options that can provide a steady income stream for investors.
CDs are time-deposit accounts offered by banks and credit unions. When you purchase a CD, you agree to leave your money with the financial institution for a set period of time, such as 6 months, 1 year, or 5 years. In return, you receive a fixed interest rate that is typically higher than what you would earn on a savings account. At the end of the CD's term, you receive your initial investment plus any accrued interest.
Money market funds, on the other hand, are mutual funds that invest in short-term debt securities, such as government bonds and commercial paper. These funds aim to provide investors with a stable value of $1 per share, which makes them an attractive option for those looking for a low-risk, short-term investment.
With money market funds, you typically have easier access to your money than with CDs or other fixed income products. As a result, money market funds typically offer lower yields than CDs, but higher yields than traditional savings accounts.
Lastly, while CDs (and money market accounts) are FDIC-insured, meaning the U.S. government will guarantee up to $250,000 in deposits per account holder if the financial institution goes bankrupt, money market funds have no such protections. Because they are investment products, money market funds are not insured against loss like CDs or money market accounts.
In summary, CDs and money market funds can be a good option for investors who want to earn a steady income stream while minimizing their risk. However, it's important to note that these investments typically offer lower returns than many of the other income-producing assets on this list.
CDs/Money Market Summary
Average compounded annual return: 1%-3%
Pros: Less risk than bonds for similar levels of return. Safety in principal.
Cons: Lower returns. Low income in low rate environment.
8. Royalties
If you aren't a fan of lending, maybe you need to invest in something with a bit more...culture. This is where royalties come in. On sites like RoyaltyExchange you can buy and sell the royalties to music, film, and trademarks. Royalties can be a good investment because they generate steady income that is uncorrelated with financial markets.
For example, over the last 12 months Jay-Z and Alicia Keys' "Empire State of Mind" earned $32,733 in royalties. On RoyaltyExchange, this song's royalties for the next 10 years were recently sold for $190,500. Therefore, if we assume that the annual royalties ($32,733) remain unchanged going forward, then the owner of those royalties will earn 11.2% per year on their $190,500 purchase over the next decade.
Of course, no one knows whether the royalties for this song will increase, stay the same, or decrease over the next 10 years. That is a matter of musical tastes and whether they change. This is one of the risks (and benefits) of royalty investing. Culture changes and things that were once in fashion can go out of fashion and vice versa.
However, RoyaltyExchange has a metric called Dollar Age that they used to try and quantify how long something might stay "in fashion." For example, if two different songs both earned $10,000 in royalties last year, but one of the songs was released in 1950 and the other was released in 2019, then the song released in 1950 has the higher (older) Dollar Age and will probably be a better long-term investment. Why? The song from 1950 has 70 years of demonstrated earnings compared to only 1 year of demonstrated earnings for the song from 2019. Though the song from 2019 may be a passing fad, the song from 1950 is an undeniable classic.
This concept, more formally known as the Lindy Effect, states that something's popularity in the future is proportional to how long it has been around in the past. The Lindy Effect explains why people in the year 2220 are more likely to listen to Mozart than to Metallica. Though Metallica probably has more worldwide listeners today than Mozart, I am not sure this will be true in two centuries.
Lastly, the only other downsides to investing in royalties (at least on RoyaltyExchange) are the high fees charged to sellers. Though RoyaltyExchange only charges a $500 flat fee to buyers for each royalty purchased, sellers have to pay 15% of the final sale price after an auction closes. So, unless you plan on onlybuying royalties (and doing it at scale), then royalty investing might not be right for you.
If you are interested in looking at other royalties and what prices they sold for on Royalty Exchange go here.
Royalties Summary
Average compounded annual return: 5%-20% (according to WSJ), 12% (according to Royalty Exchange)
Pros: Uncorrelated to traditional financial assets. Generally steady income.
Cons: High seller fees. Tastes can change unexpected and impact income.
9. Your Own Product(s)
Last, but not least, one of the best income-producing assets you can invest in is your own products. Unlike all of the other assets on this list, creating products (digital or otherwise) allows for far more control then most other asset classes. Since you are the 100% owner of your products, you can set the price, and, thus, determine their returns (at least in theory).
Products include things like books/ebooks, information guides, online courses, and many others. I know quite a few people who have managed to earn five to six-figures from selling their products online. More importantly, if you already have an audience via social media, an email list, or website, selling products is one way to monetize that audience. And even if you don't have one of these distribution channels, it's never been easier to sell products online thanks to platforms like Shopify and Gumroad and online payment processors.
The hard part about products as investments is that they require lots of work upfront with no guarantee of a payout. As I have discussed previously, there is a long road to monetization with many side hustles and that also includes with products. However, once you get one successful product under your belt, it is much easier to expand your branding and sell other things as well.
For example, I have seen my income on this blog grow beyond small affiliate partnerships to include ad sales along with more freelancing opportunities. It took years of blogging before I even started earning real money, but now new opportunities are always popping up. If you have more questions about this, feel free to DM me on Twitter.
Your Own Product(s) Summary
Average compounded annual return: Highly variable. Distribution is fat-tailed (i.e. most products return little, but some go big).
Pros: Full ownership. Personal satisfaction. Can create a valuable brand and a lot of personal leverage.
Cons: Very labor intensive. No guarantee of payoff.
What About Gold/Crypto/Commodities/Art/Wine?
A handful of asset classes did not make the above list for the simple reason that they don't produce income. For example, gold, cryptocurrency, commodities, art, and wine have no reliable income stream associated with their ownership, so they can't be included above.
Of course, this does not mean that you can't make money with them or that they shouldn't be in your portfolio, only that they don't produce income. Generally, I limit these non-income producing assets to 10%-15% of my portfolio.
Final Summary
Given all of the information covered above, I thought it would be helpful to produce a summary table for better comparison purposes:
Vetted by HousingWire | Our editors independently review the products we recommend. When you buy through our links, we may earn a commission.
Real estate is a vibrant, dynamic and competitive industry. From the thrill of a sale to the pursuit of new leads, it keeps you on your toes. That said, it can also be incredibly isolating, and it can be hard to stay motivated. As a way to deal with this, many agents and brokers seek out professional mentorship as a means to gain insight and level up their performance. Across the country, the best real estate coaches serve as valuable mentors who can help agents and brokers achieve the success they deserve.
“It’s really hard for independent business owners to get unbiased advice from themselves,” says Kyle Scott, President of SERHANT. Ventures. “So they need unbiased experts to work with that will help them grow their business — someone who has been there, who has done it, and who is able to see their business from both the 35,000-foot view and down in the weeds.”
A quick internet search will prove that real estate coaching programs are plentiful. Whether you’re looking to expand your team or client network or figure out how to delegate work so you can focus on the tasks you do best, a real estate coaching program could be a valuable launchpad. But when it comes to choosing the right one for your unique needs, there’s a lot to consider. Here, we highlight some of the best real estate coaches in the industry and their programs.
An unbiased view is worth millions. Often, we turn to our closest friends and family for guidance. Unfortunately, they’re usually not familiar with the ins and outs of the real estate industry and can’t provide you with the relevant feedback you need. As a result, many independent contractors rely on themselves, which generally doesn’t work either.
You can’t advise yourself, you’re too close to it. A coach works best for someone who is actually looking to grow their business, someone who is looking to put in the time and the energy to make a difference in achieving more income this year.
Hire a coach if you want to start taking your business to the next level for any reason — you want to make more money, have more freedom with your time, or stop riding the ins and outs of the commission cycle.President of SERHANT. Ventures
1. Sell It Like Serhant
Key Facts
Grown throughout the pandemic, the Sell It Like Serhant program has been carefully adapted to the current market. It follows a weekly and bi-weekly platform featuring one-on-one virtual coaching from Serhant’s proprietary video platform. After a half-hour or hour-long group meeting every week or every other week, participants follow actionable steps to help them grow their business. Thus far, more than 22,000 enrollees in 128 countries have been through the Sell It Like Serhant program.
What We Love
Serhant offers daily office hours so participants can pop into virtual sessions to ask questions or get expert advice between their regularly scheduled sessions. A community platform also allows participants to pass referrals to each other. Thus far, it seems to have worked: To date, participating agents have closed over $250 million of referral deals.
Pricing
There are different membership tiers, depending on the level of guidance you need. The introductory Real Estate Core Course starts at $497. Prices are higher for a more specific course or one with 1:1 coaching.
Who’s it Best For?
If you’re looking to build a memorable personal brand, SERHANT. is the way to go. “The number one differentiator about our program is we understand that as a real estate agent, you have one job: to generate leads,” says SERHANT. Ventures President Kyle Scott. “Our number one focus is helping you build a clear, compelling, memorable personal brand and put your lead generation on autopilot. So that way, you can do what you do best, which is build relationships and close deals.”
Visit Sell It Like Serhant
2. Tom Ferry International
Key Facts
For good reason, Ferry International refers to itself as the real estate industry’s leading coaching and training company. Focused on Ferry’s “8 Levels of Performance,” the programs are a staple of real estate coaching. Their new group coaching sessions cover various aspects of real estate sales.
Prospecting Bootcamp is a 14-hour program comprised of seven two-hour group coaching sessions, and includes a peer-to-peer collaboration space. It involves independent work pulled from training videos and downloadable resources.
Recruitment Roadmap consists of hour-long sessions each week for ten weeks. Completed over Zoom and through the Tom Ferry video platform, each group coaching program offers a high level of specialization.
Finally, their Fast Track program offers 12 interactive group coaching sessions designed to help new agents build the necessary skills to succeed — like mastering listing presentations and handling objections.
What we love
If you’re looking for the gold standard of real estate coaching, Tom Ferry has the goods to back up the bravado. Because of their many years in the biz, Tom Ferry has a huge base of coaches, which means there are plenty of options to find the program best suited for your specific needs.
Pricing
Tom Ferry’s Prospecting Bootcamp and Fast Track coaching programs cost $999 but can be broken down into three monthly payments. The Recruitment Roadmap group coaching costs $1,499 but can be split into three monthly payments of $500. Consider their free coaching consultation if you want to dip your toes in the water. Check out their customer reviews, where several coaching program alums rave about the program.
Who’s it Best For?
If you thrive in a group setting that allows you to feed off the energy of others, Tom Ferry might be right for you. Their group coaching programs are new and more affordable alternatives to often costly 1:1 coaching fees.
Visit Tom Ferry
3. Tim and Julie Harris
Key Facts
The dynamic duo of real estate coaching, Tim and Julie Harris are a major name in the industry. Under their business, Harris Real Estate Coaching, their programs are divided into three tiers: Premier, Premier Plus, and VIP, all of which rely on a user-friendly online platform.
Pricing
Premier platform costs $197 per month, but a 30-day free trial is available. Premier Plus costs $599 per month, while VIP costs $999 per month. Of course, their wildly successful podcast is a great free resource to tap into, as well as Tim and Julie’s many written contributions to HousingWire.
Who’s it Best For?
If you’re constantly on the go, the ability to access the course from any device is a major asset.
4. Candy Miles-Crocker
Key Facts
Newbies are welcome at Candy Miles Crocker’s program. Known as the “Real Life Realtor,” she’s the brain behind Real Life Real Estate Training. With a variety of courses in her offerings, including a plethora of self-paced online courses, Miles-Crocker gives new agents a leg-up on the rest.
What we love
Miles-Crocker is still an active agent, working with clients to close deals. Her 20+ years of experience practicing in Washington, D.C., Virginia and Maryland have helped her build “systems, strategies and scripts” that she shares with her coaching clients.
Pricing
The CORE Essentials Blueprint program retails for $1,597. Smaller, more specific courses, such as The Buyer Presentation, are priced at $347. While all pricing isn’t listed on her website, Miles-Crocker also offers a free course that includes her 6-point system for growth.
Who’s it Best For?
Miles-Crocker’s courses could be beneficial if you are new to agent life or looking to get your business reorganized. She even has one specifically for your first 30 days as a real estate agent.
5. Ashley Harwood
Key Facts
Boston-based Ashley Harwood inspires introverts with her convincing, heartfelt and high-touch approach to practicing real estate. Her very human, very relatable Move Over Extroverts coaching approach is the perfect antidote for cheerleader-style coaches that urge you to door-knock, chase down divorce leads or become a social media superstar.
What we love
Harwood is a licensed agent coaching agents week-in and week-out at no less than three Keller-Williams offices in the great Boston metro. We love her humanity, inspiring videos, and her latest enterpise — The Quiet Success Club. Inspired by Susan Cain’s New York Times bestseller Quiet, about the power of introverts, Harwood brings together a community of like-minded real estate agents wanting a more client-centric approach to succeeding as an agent.
Pricing
Join The Quiet Success Club for $45 per month (paid monthly) or get two months free when you pay for an annual subscription (for $450). The club is currently offering founding member pricing for $25 per month or $250, but it’s a limited-time offer available only under April 30, 2024. Or get a lifetime membership to Harwood’s suite of courses, called IntrovertU, for a one-time cost of $997.
Who’s it Best For?
Introverts, of course! While you may not count yourself as one, if you read Susan Cain’s book, you may unearth your more introverted traits — like recharging your battery by being alone. Ok, even if you don’t bask in solitude, Harwood promises a calming community where agents can be themselves, be seen, and where they don’t have to be the loudest voice in her mastermind group, purposefully (and quietly) designed to teach successful lead generation and other strategies.
6. Levi Lascsak
If you’re looking to improve your social media game, Levi Lascsak is the YouTube master. The author of Passive Prospecting specializes in helping real estate professionals embrace the video platform, and he does so in jam-packed, 2-day virtual events. Discover how he earned over $4 million in gross commission income as a new agent.
What we love
Lascsak’s social media marketing skills are top-of-the-line. While he may not be part of the traditional world of real estate coaching, Lascak’s ability to relate to younger audiences is an asset that Millennial and Gen Z agents might appreciate.
Pricing
The live, 2-day events are available at a discount for $47. But as you can expect, he’s got endless information available for free on YouTube.
Who’s it best for?
If you’re a digital native looking to pack a bunch of education into a short period, a Lascsak course is particularly beneficial.
7. Jess Lenouvel
Key Facts
Promising to help agents scale from six to seven figures, The Listings Lab founder Jess Lenouvel is the author of More Money, Less Hustle. A strong example of a coach with a significant understanding of social media, Lenouvel hosts vibrant live events that hype up the audience and prepare them to take their career to the next level.
What we Love
Lenouvel emphasizes the significant power of mindset to achieve one’s goals. She understands how quickly the market shifts and emphasizes staying on top of trends to succeed.
Lenouvel’s live events focus on messaging. For those looking to solidify their brand and develop a clear, concise message, her events might be what you need.
8. Buffini & Company
Key Facts
Another giant of the real estate coaching industry, Buffini & Company is one of the largest coaching and training companies in the United States. They have two major coaching programs: The Leadership Coaching program includes three monthly coaching calls, free admission to a 2-day conference, and curriculums and training led by Brian Buffini. There are also bi-monthly coaching sessions and a monthly web series with a live Q&A.
Buffini & Company also performs a REALstrengths profile — an in-depth personality assessment. In the One2One Coaching program, there are two coaching calls per month, a monthly marketing kit, the REALStrengths profile, and as with the SERHANT. program, Buffini features the Buffini Referral Network, allowing participants to send and receive referrals with other agents.
What We Love
Buffini coaches aren’t independent contractors. Instead, they’re full-time employees who go through intense training. Thus far, they’ve conducted 1.7 million coaching calls and more than one million hours of coaching.
Pricing
The Leadership Coaching program costs $1,499 a month. Private coaching, referred to as One2One Coaching, costs $549 per month. Two tiers of Referral Maker courses are available from $45 to $149 each per month.
Who’s it Best For?
Team spirit is the name of the game for Buffini’s Leadership Coaching program. If you’re a team leader looking to improve your coaching skills and assist your team in leveling up, the Leadership Coaching program might be right for you. If you want a more personalized path as a solo agent, the One2One Coaching program may be a better fit.
9. Vanda Martin
Key Facts
A popular name in the real estate coaching industry, Vanda Martin’s VIP Coaching Program follows three components: coaching, content, and community. Martin doesn’t shy away from mistakes – instead, she emphasizes avoiding indecision that puts you behind the pack.
What we love
Positive vibes are plentiful in Martin’s world, and her energy is tangible. Just check out her Instagram videos.
Pricing
Martin’s pricing isn’t listed.
Who’s it best for?
If you’re looking for a female leader who emphasizes loving your job and building habits that will take you to a greater level of success, Martin’s ability to convey those feelings is clear. Just check out the endless testimonials on her website.
9. Tat Londono
Key Facts
Tatiana Londono is the founder and CEO of Londono Realty Group Inc. The author of Real Estate Unfiltered, she offers a variety of programming that ranges from free templates to intensive coaching sessions. The Millionaire Realtor Membership provides weekly input from Londono, while the intensive Millionaire Real Estate Agent Coaching Program focuses on building 12-month objectives using a custom success action plan. It uses live programming and workshops with Londono herself, as well as an exclusive online community and referral network for members.
What we love
Londono’s keen sense of social media and her posts are a masterclass in how to boost your engagement on platforms like TikTok and Instagram. Don’t miss her takes on Taylor Swift’s real estate portfolio.
Londono’s programs specifically target agents who are looking to scale their business. If you’re struggling with lead generation or want to increase the number of views you’re racking up on social media, Londono is a valuable source within the industry.
10. Steve Shull
Key Facts
Steve Shull’s Performance Coaching focuses on using consistent execution to achieve your goals. With options ranging from 1:1 private coaching to small group coaching for 10 to 20 agents, the groups have 30-minute Zoom calls three times a day, but the number of sessions you choose to attend is up to you. Several self-directed courses are also available on the website, focusing on topics ranging from mindset to time blocking.
What we love
If you’re not positive you want to make the investment, Performance Coaching allows a 14-day free trial of daily accountability calls.
Pricing
Small group coaching costs $6,000 a year, and while 1:1 coaching prices aren’t listed online, you should prepare for a hefty price tag.
Who’s it Best For?
If you have a specific area you’re looking to improve upon, Performance Coaching offers coaches with unique areas of expertise, ranging from CRMs to business strategy. Tailoring your program to your greatest areas of weakness can help you become a more well-rounded agent.
11. Aaron Novello
Key Facts
Aaron Novello of Elite Real Estate Coaching has several programs tailor-made for agents looking to hone their craft. A Masterclass in Systems works to teach agents how to scale their real estate business, organize their team, and use programming like Follow Up Boss to manage their business.
The Role Play Mastermind is for agents looking to prepare themselves for tough discussions by working with a role-play partner for 15 to 30 minutes, five days a week. The group coaching option includes a variety of scripts Novello used to close on homes, as well as mindset guides, skill sheets, and expert guidance from experts in the field.
What we love
Novello’s exclusive accountability group allows active members and former coaching clients to share everything from guidance to motivation. If you’re looking to save money, Novello also has a free podcast available on YouTube.
If you struggle with having difficult conversations and are looking for solid templates to guide you, Novello’s Role Play Mastermind is a solid investment. The group coaching option emphasizes taking the educational portion and putting it into practice in the real world rather than just watching videos.
12. Krista Mashore Coaching
Key Facts
Filled with energy and known for popping up in the press, Krista Mashore is the mind behind Unstoppable Agent, her 3-day mastery class. It includes over 15 hours of coaching, group workshops, breakout sessions, and skill-building workshops to provide you with the skills to implement digital marketing successfully into your real estate business.
What we love
A positive attitude counts for a lot, and Mashore’s personality is a key component of the success of her course.
Pricing
Mashore’s accessibility is another one of her program’s best assets. Her 3-day class is currently priced at $47, but pricing occasionally varies.
Who’s it best for?
If you crave energy and enthusiasm, Krista Mashore has the goods. She’s also an expert on working in today’s low-inventory market, which is ideal for someone struggling with the current housing shortage. But she’s also got a good sense of humor, which shines through in her social media presence.
The full picture: The best real estate coaches for 2024
Hiring a top real estate coach goes far beyond just expanding your skills. While growing and educating yourself as you navigate your career is essential, hiring a coach is all about seeking to achieve more. Whether you’re looking to boost lead generation, build a solid personal brand, or make more commission income, having the input of a seasoned expert is a priceless step in the right direction. As you can see through the endless reviews and testimonials on coaches’ websites, agents who want to scale their business and take their profits to a higher level often seek the outside guidance of a coach. While the cost of hiring someone may be significant, the return on investment is equally as monumental.
Real estate coaching programs vary in price significantly. Most cost over $500 per month, with others charging several thousand dollars per month. “Oftentimes, it is the case that you get what you pay for,” said Kyle Scott, President of SERHANT. Ventures.
However, prices can also vary depending on the specific niche of real estate coaching you’re focusing on. The more specificity you’re seeking, the higher the financial investment. Of course, self-led courses are likely to cost much less.
Does your career feel stalled right now? Are you ready to take your career to the next level, but you’re not sure where to start? In a down market, you can channel your time and energy into actively improving your business skills so that you’ll be sufficiently prepared for when the market changes.
“When things pick up again, you’re ready to capture the climbing market,” says Scott. “If that’s the case, then the best time to embrace coaching is now. At the same time, a thriving market presents agents with new challenges, ranging from having to turn away business or being unable to service your existing business in a way you’re proud of,” Scott noted. “In that type of market, a real estate coach can help you determine what kind of junior agent or assistant would serve you best. How do I figure out how to manage my business in a way that I can keep up with the volume?”
Part 1: Current State of the Housing Market; Overview for mid-March 2024
Today, in the Calculated Risk Real Estate Newsletter: Part 1: Current State of the Housing Market; Overview for mid-March 2024
A brief excerpt: This 2-part overview for mid-March provides a snapshot of the current housing market.
This 2-part overview for mid-March provides a snapshot of the current housing market.
I always like to start with inventory, since inventory usually tells the tale!
...
Here is a graph of new listing from Realtor.com’s February 2024 Monthly Housing Market Trends Report showing new listings were up 11.3% year-over-year in February. This is still well below pre-pandemic levels. From Realtor.com:
However, providing a boost to overall inventory, sellers turned out in higher numbers this February as newly listed homes were 11.3% above last year’s levels. This marked the fourth month of increasing listing activity after a 17-month streak of decline.
Note the seasonality for new listings. December and January are seasonally the weakest months of the year for new listings, followed by February and November. New listings will be up year-over-year in 2024, but we will have to wait for the March and April data to see how close new listings are to normal levels.
There are always people that need to sell due to the so-called 3 D’s: Death, Divorce, and Disease. Also, in certain times, some homeowners will need to sell due to unemployment or excessive debt (neither is much of an issue right now).
And there are homeowners who want to sell for a number of reasons: upsizing (more babies), downsizing, moving for a new job, or moving to a nicer home or location (move-up buyers). It is some of the “want to sell” group that has been locked in with the golden handcuffs over the last couple of years, since it is financially difficult to move when your current mortgage rate is around 3%, and your new mortgage rate will be in the 6 1/2% to 7% range.
But time is a factor for this “want to sell” group, and eventually some of them will take the plunge. That is probably why we are seeing more new listings now.
Pharma industry reputation remains steady at a ‘new normal’ after Covid, Harris Poll finds
The pharma industry is hanging on to reputation gains notched during the Covid-19 pandemic. Positive perception of the pharma industry is steady at 45%…
The pharma industry is hanging on to reputation gains notched during the Covid-19 pandemic. Positive perception of the pharma industry is steady at 45% of US respondents in 2023, according to the latest Harris Poll data. That’s exactly the same as the previous year.
Pharma’s highest point was in February 2021 — as Covid vaccines began to roll out — with a 62% positive US perception, and helping the industry land at an average 55% positive sentiment at the end of the year in Harris’ 2021 annual assessment of industries. The pharma industry’s reputation hit its most recent low at 32% in 2019, but it had hovered around 30% for more than a decade prior.
Rob Jekielek
“Pharma has sustained a lot of the gains, now basically one and half times higher than pre-Covid,” said Harris Poll managing director Rob Jekielek. “There is a question mark around how sustained it will be, but right now it feels like a new normal.”
The Harris survey spans 11 global markets and covers 13 industries. Pharma perception is even better abroad, with an average 58% of respondents notching favorable sentiments in 2023, just a slight slip from 60% in each of the two previous years.
Pharma’s solid global reputation puts it in the middle of the pack among international industries, ranking higher than government at 37% positive, insurance at 48%, financial services at 51% and health insurance at 52%. Pharma ranks just behind automotive (62%), manufacturing (63%) and consumer products (63%), although it lags behind leading industries like tech at 75% positive in the first spot, followed by grocery at 67%.
The bright spotlight on the pharma industry during Covid vaccine and drug development boosted its reputation, but Jekielek said there’s maybe an argument to be made that pharma is continuing to develop innovative drugs outside that spotlight.
“When you look at pharma reputation during Covid, you have clear sense of a very dynamic industry working very quickly and getting therapies and products to market. If you’re looking at things happening now, you could argue that pharma still probably doesn’t get enough credit for its advances, for example, in oncology treatments,” he said.
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More importantly, those that had bonds and were able to rebalance during the crash saw an even bigger benefit during the recovery that followed. Because of my Treasury bonds I was lucky enough to rebalance on the day of the 2020 market bottom. Yes, this timing was luck, but owning bonds in the first place was not.
So how can you buy bonds? You can choose to buy individual bonds directly, but I recommend buying them through bond funds because it's much easier. If you think that owning individual bonds is somehow different from owning bonds in a fund, please read this and this to convince yourself otherwise.
Regardless of the kinds of bonds you consider buying, they can play an important role in your portfolio beyond providing growth. As the old saying goes:
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