Saturday, March 31, 2007

austinguy austinguy is offline

Join Date: Dec 2006
Posts: 45
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Default Re: Exit Realty

bobbyj -- I'm not at all a pessimist, quite the opposite. But a lot of BS in the real estate industry does piss me off.

Look at it this way. If you work for Exit for 10 or 20 years before you retire, 10% of every one of your transactions goes to the guy who brought you in, for doing NOTHING! So your recruiter decides to retire, hoping to rely on the steady income you and several others he brought in provide. Well, what happens when you and all his other recruits retire within a few years of him? Or what if you leave the business, or switch brokers?

Does this seem like a good retirement plan to you? What if all of your recruits drop out?

Exit is a Ponzi scheme. In other words, you rob Peter to pay Paul, and Paul will rob Mary to pay for himself, and so on. The scheme works as long as there's high turnover and more fresh agents get sucked in. Ultimately the business model fails, and those who are at the top get their money and run.

Like others have said, their market share is tiny, and I know our local Exit franchises aren't growing at all. That means there are people at the bottom who have to pay 10% for nothing. How long do you think before they leave and the house of cards collapses?

Find yourself a good smaller broker, with a good split and good training. That's all you need. The Exit broker will be more busy recruiting than training.

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