EXIT Realty is a company built on human potential and at its very core is the EXIT Formula.
EXIT Realty’s Founder and Chairman, Steve Morris, looked at the problems in the real estate industry, including recruiting, retention, and the gaps agents face between closings, and asked, “What if it doesn’t have to be this way? How can we attract and retain top talent, create an environment in which they can thrive both personally and professionally, and provide an opportunity to earn more than 100% and pay no desk fees?”
Drawing on his experience in the life insurance industry, Steve introduced the concept of residual income to real estate and the EXIT Formula was born. With the EXIT Formula, every EXIT Associate has the opportunity to earn single-level residual income over and above their commission. Here’s how it works.
Let’s say Mary is a sales representative with EXIT Realty. She introduces John to management and he is hired. As a special thank you from EXIT Realty Corp. International for helping to grow the company, Mary receives a bonus in an amount equivalent to 10% of the gross commission John earns to a maximum of $10,000 per year for as long as John stays with the company and produces business. This thank you is referred to as a sponsoring bonus and is not deducted from John’s share of the commission.
A culture where it pays to be a mentor
Because every agent who joins EXIT Realty is sponsored by someone in the company, an atmosphere of mentorship is created which strengthens our corporate culture. If Mary is earning $100,000 per year and John is earning $50,000, it is in Mary’s best interest to mentor John and teach him how to increase his production. Who learns more, the teacher or the student? The teacher every time. So, Mary actually gets better at her job by helping John get better at his.
According to the National Association of REALTORS®, the typical REALTOR® is 54 years old. Mary may eventually choose to retire from selling real estate and when she does, her 10% sponsoring bonuses will convert to 7% residuals.
At EXIT Realty, someone is considered retired or part-time when they close fewer than 8 transaction sides or $40,000 in gross commissions in the production year. The best part about the 7% aspect of the EXIT Formula is that it can apply not only in retirement but also when someone wants to — or must — take a break from selling real estate. We’ve seen agents go on parental leave, have surgery, recover from illness, taken care of aging parents, finish a college degree and take an extended vacation while living on their residual income.
Sponsoring bonuses are convertible and portable. Once Mary closes her eighth transaction side, her 7% residuals go back to 10%. If Mary moves to another part of the country, her 10% or 7% bonuses follow her. This aspect of the EXIT Formula has proven to be advantageous to people serving in the military and military spouses.
The average agent hasn’t paid attention future-tense, so the EXIT Formula pays attention for them. When Mary joined EXIT Realty, she named a beneficiary. If she passes away, her 10% sponsoring bonuses or 7% residuals would convert to 5% beneficiary benefits to provide for her loved ones even after she’s gone. Benefits like real people with real jobs.
The EXIT Formula provides an incredible opportunity for our agents and brokers to build financial security and personal wealth. Visit our YouTube channel or blog for just a few examples of the thousands of EXIT Associates who are using their sponsoring bonuses to fund their charitable initiatives, their lifestyle and their dreams.
EXIT Realty is the solution. You owe it to yourself and your family to take a closer look.