Real Estate companies are NOT all alike. As a matter of fact they can vary greatly.
To keep it as simple as possible:
a. Sponsoring is a process whereby an Exit Associate introduces a potential recruit to management. If that recruit is hired, the Exit Associate who made the introduction receives a financial bonus from Exit's head office as the new recruit's transactions close.
b. Sponsoring is unlimited and can be practiced anywhere at Exit right across the North American continent.
c. Residual bonuses are single-level only. They are not multi-level in any way. In John sponsors in Mary and Mary sponsors in Bill, John receives no benefits as a result of Bill because he did not sponsor Bill into Exit Realty.
d. Exit's standard commission splits are 70/30 up to $100,000 gross closed then 90/10 for the balance of the year, annually. The new recruit's commissions are not influenced at all as a result of the sponsoring bonuses being paid out.
e. The sponsoring bonus is equivalent to 10% of the gross commission received by the recruit during the time that the recruit is on a 70% split. This maximizes at $10,000 each year per recruit. It then perpetually continues each year the recruit remains with Exit.
f. Sponsoring is mentoring with a vested interest: it generates perpetual financial returns and creates an incentive to pass down wisdom. The more the recruit improves, the better the return to the sponsor.
g. Sponsoring can be split evenly between two people for the initial introduction thus they would each receive 5% accordingly.
h. The process of taking listings and making sales has always defined real estate as a two-dimensional business. Sponsoring now adds a third dimension and a new income stream.
i. A $5000 single-side transaction generates a sponsoring bonus of $500. This bonus is paid out to the sponsoring associate by Exit's head office no matter what the financial status of the broker. Since exit's head office pays all sponsoring bonuses there is no requirement for Exit franchises to be in a profit position previous to pay out.
j. Exit Realtors® pay a deal fee of $50/$150/$310 depending upon amount of commission earned to a maximum of $2700 per year. A Percentage of this transaction fee is applied to national advertising.
k. All Exit Associates pay annual dues of $345. This gives them qualification to receive Exit residuals.
l. An Exit Associate who has participated in sponsoring continues to receive 7% residual bonuses after they retire. The other 3% goes to their broker. This continues for as long as those they sponsored in continue to make sales. A retired Exit Associate may continue to sponsor in new individuals to management with no further responsibility to sell real estate.
m. Exit Associates designate a beneficiary when they join Exit. Should an Exit Associate become deceased for whatever reason then a special residual beneficiary benefit of 5% is dedicated to the beneficiary. This continues for as long as those who had been sponsored in by the Associate continue to generate sales. The other 5% goes to the broker who licensed the Associate who is now deceased.
n. A portion of each transaction fee paid by the salespeople in each Exit office across the continent is accumulated in a special secretarial bonus fund by Exit. This bonus fund is paid to the support staff of that office immediately prior to Christmas.
o. Exit head office dedicates a portion of each transaction fee generated by all offices in the corporation to its present charity of choice, Habitat for Humanity.
The EXIT Formula
A Powerful Idea.
EXIT Realty Corp. International has a unique ingredient; one that is revolutionizing the real estate industry. Known as the EXIT Formula, this new earnings generator has been specifically engineered to enhance the return on invested time for brokers and salespeople alike.
Like What You See?
*EXIT Training *Branding *Technology *Culture *The EXIT Formula
EXIT Realty's mission is to build the largest and most productively successful real estate organization in North America.