A commentary by Wade Mitchell, Broker/Owner, EXIT Realty Acceleration, Brokerage, Napanee, Ontario
Running my own brokerage business was always in the back of my mind when I got my real estate license, and once I got to the top of my selling game I knew it was the right time to make the change from agent to owner.
I’d heard of the EXIT business model from one of the most respected brokers in a nearby community. I made an appointment to learn more and half-way through the presentation I made the decision to purchase the franchise. Recruiting, retention, and productivity were all hallmarks of the EXIT Realty system and those were precisely what I needed and wanted. Within a year of start-up my office was full, exceeding all of my plans. Later, I built my own office location, moved in and continued to grow our presence in our market.
There’s no comparison with any other business model once you understand how residual income works at EXIT. When you sell a listing in this business you get paid once; when you introduce an agent to EXIT who joins the company and closes transactions, you get paid over and over again from the corporate head office. Ten percent sponsoring bonuses; that’s an incredible extra cash flow stream when your day-to-day routine includes being out in the rain until 2am putting deals together. And, as the person you introduce increases their production, your bonus increases to a maximum of $10,000 per agent sponsored per year. So it’s the norm, not the exception for everyone to help each other succeed. Because our agents can sponsor anywhere in North America where there’s an EXIT office, everyone in my brokerage is excited to hear about other EXIT offices opening in the communities surrounding our office. Every broker and agent has a financial vested interest in the growth of this corporation from British Columbia to Newfoundland and Labrador, and south of the border. This concept is a no-brainer.
When I first heard about EXIT Realty I thought it was too good to be true and literally asked, ‘Okay, what’s the catch?’ After eight years I know there isn’t one; just a lot of good common sense.
