01-28-2007, 09:14 AM
Re: Exit Realty
One more point - most agents that make the switch to Exit (or to Keller, or to any agency that rewards recruitment) think that recruiting is passive. I can tell you, from experience, that recruiting is extremely active. I spend every other week giving an hour presentation & lunches @ the real estate school, run ads in multiple publications, send out email blasts, & interview at least one new agent a week. That's a LOT of work. Our agency is doing a little better than the average on retention - but remember that there's a 90% washout rate among new agents. So - you're going to need to recruit 10 agents to have one consistent residual income stream (and that's if you & they stay @ Exit indefinitely.)
Austinguy mentioned above that most KW agents ended up making pennies off their profit sharing. KW started in Austin, and has grown as explosively as Exit is in some areas partially due to their profit sharing. I was with KW for 2 years - recruited one agent, & never saw a dime. However, it wasn't the KW profit sharing program's fault - it was everything I listed above. Recruiting is hard & time consuming.
Bottom line - focus on selling houses! If you want residuals - sell insurance, or buy rental properties.