In real estate, it’s easy to get dazzled by the big numbers — the GCI trophies, the luxury cars, the business-class holidays. But according to REMAX Precision broker-owner Scott Mackey, those numbers don’t always tell the full story.
“Turnover’s for schoolboys. Profit’s for adults,” he says.
It’s a blunt statement, but after nearly 30 years in the industry, Mackey has earned the right to say it.
And it’s a message he’s increasingly sharing with agents — not just those starting out, but also high performers who risk burning out under the weight of fast money, heavy overheads and inflated expectations.
A question of longevity
“Real estate is full of agents who had a million-dollar year, then vanished,” he says. “They spend like it’s going to be like that forever — but it never is.”
Scott’s approach is simple: treat your career like a business, not a brag reel. That means understanding cost structures, knowing your margins, and building for the long term.
“There are agents writing $1 million a year and keeping $100K. Then there are agents writing $400K and keeping $300K. Who’s really winning?” he asks.
For Scott, success in real estate isn’t defined by one good year. It’s what comes after. Can you build something that pays you even when you’re not chasing deals? Can you weather a slow quarter, or a market shift?
“I’ve seen a lot of great agents leave the industry, not because they weren’t good, but because they didn’t have a financial base to ride out the quieter periods.”
From “active” to “passive”
Scott calls it the difference between actual, relative and passive income.
“Actual income is what you earn. Relative income is what you keep, and how hard you work for it. Passive income is what comes in when you’re not doing anything at all.”
He’s spent years building his own rental portfolio, residential and commercial, to the point where his passive income now exceeds his best year of GCI.
“I still list and sell. I’m always an agent. But I don’t have to rely on the next deal to pay for my life. That’s freedom, and that’s what agents should be aiming for.”
The trap of looking successful
Scott is the first to admit he enjoys nice things – the watch, the car, the dinner out. But he’s wary of the pressure on agents to look the part before they’ve earned the right.
“Too many agents spend their first good year’s income on lifestyle … European holidays, designer handbags, flashy posts on social. The problem is, once you start living at that level, it’s hard to go backwards,” he says.
That pressure, combined with the industry’s obsession with turnover, leads to dangerous habits: advancing commissions, overextending on credit, and living month-to-month on volatile income.
“There are agents who run out of money by the 12th of the month, but their lifestyle goes to the 30th,” he says.
Financial literacy
One of Scott’s ongoing concerns is the lack of financial literacy in real estate.
Many agents, he says, don’t understand basic structures like body corporate, strata, or even their own tax responsibilities.
“I tell agents — buy a unit. Go through the process yourself. Be on a body corporate committee. Rent out a property. Learn by doing. You’ll be a better advisor to your clients if you’ve lived it.”
He encourages new agents to move from “primary school” to “high school” and eventually “university level” in the way they treat their business.
That includes getting comfortable with financials, reinvesting in assets, and asking better questions.
“I run a session with agents and players alike called, ‘Don’t talk tackling technique with the kicking coach.’ Meaning — know who you’re getting advice from. Your mate might mean well, but unless they’ve built a business, they’re probably not the right person to guide yours.”
Platform growth, not just stacking blocks
For Scott, building a real estate career is like building a tower – the foundation matters more than the height.
“You can’t just keep stacking wins on top of each other without a strong platform. That’s how things topple. Instead, expand your base. Invest. Learn. Grow carefully.”
He’s seen it work, not just in his own career, but in the agents and business owners he’s mentored over decades.
And while the industry still celebrates raw GCI, he believes a new conversation is beginning.
“Being an top agent isn’t about one big year. It’s about what you build underneath. GCI is just one metric. Longevity, sustainability, and financial independence – those are the real trophies.”
