One day a friend of mine who I happened to be on a cruise with asked me how I liked my career.As we laid there in the tropical sun off the coast of the St. Thomas I thought for a moment as said, “I’m not really sure.I know I’m good at what I do but I’m really not sure where I'm headed.”
My friend who was a Vice President of a Bank suggested I read a book called, “Rich Dad Poor Dad” by Robert Kiyosaki.She said it opened her eyes to her future and where she needed to go.Since I really was not into reading books I said, “I’ll do that” just to appease her.
Several months passed and I completely forgot about the book.One day being passionate about electronic gadgets I purchased my first ipod.While investigating the itunes website I saw an audio book.It was Rich Dad Poor Dad so I downloaded it.After the first 30 minutes I was blown away.It was like a light bulb went off and I realized that I was on the wrong path.
Sure I had a nice home, I owned 2 real estate brokerages, I owned a hair salon (long story), I had 2 boats, a snowmobile and more “stuff” then I could ever use.All of those things I thought were assets.After all... isn’t that why we buy things?I knew right then that I made a huge mistake in my life.
I couldn’t change the past but I certainly could reevaluate my future.I started looking at everything I had and based on the theory of the book, evaluated the need for my so called assets.I soon recognized that my biggest asset, my brokerage was nothing more than a great big liability.
Sure it generated income but it also hurt me in the long run. I realized that when I wasn't at work, I obviously I wasn’t generating income thereby creating a liability.That cruise I was on not only cost me the price of the vacation but the time lost not working.My salespeople, while ocationally generating revenue, were also costing me money.
The premise of the book is in order to be truly wealthy you need to pay yourself first.You need to generate real assets and use the income from those assets to pay yourself even before your expenses or taxes.You use that income to acquire more assets and once you have enough income you use those assets to pay your expenses with pre-tax dollars.
Most people work for someone, get a paycheck (post tax dollars), pay expenses and if there is any money left over they buy so called assets such as boats, cars or property.All of those things that people consider assets depreciate and can ultimate cost you money. That was the story of my life.Although I did use pre-tax dollars by writing off most of my expenses prior to paying the IRS, I was doing it all wrong.
My boat for example rather than costing me should be rented or lease out to generate revenue.Since I am single I should rent out a spare room and generate revenue there.My real estate holdings needed to be income producing or increasing in value enough to justify the expense.My other businesses need to produce increased revenue.
I thought back to that my encounter with Exit Realty and decided right then and there that I had to take another look.I met with Bob Rieck and Craig Witt at their office and I soon realized I had found the answer.The answer was RESIDUALS.
To become rich you need to first change the way you think about money because your thoughts lead to your actions that lead to results. If you were raised poor or middle-class, chances are that you were not taught the fundamentals you need to become financially free for life.
—Robert Kiyosaki
Famous last words – I have an opportunity I want to show you
How many of you have ever been approached by someone with this phrase, “Are you busy tonight at 7:00 I have an opportunity I want to show you?” Those words usually make me duck for cover because I know someone is about to try to sell me a network marketing program.
While I think the idea of a network marketing program is a great idea, I know they all have a flaw and that is no one really ever sticks with them. Like new agent in real estate, people get excited to become part of something. They sell a few friends but they always loose steam and eventually give up...at least until the next great idea comes along.
Let me statethis…EXIT REALTY CORP. IS NOT A MULTI LEVEL MARKETING PROGRAM
The reason multi level marketing programs work is because everyone likes the idea of getting paid to bring someone else into a program especially when they realize the person will actually use and or benefit from the product. It makes perfect sense…take the money that you would normally pay for advertising and share that profit with those who help you grow the business.
Think of it as form of profit sharing.What do you think made Sam Walton (Walmart) so successful? No it wasn’t network marketing... it was profit sharing. Sam created an environment ripe for success when he motivated those people working with him to help grow the business. Walmart employees work as a team because it benefits everyone.
Real Estate Franchises and their problems Back to real estate…what are the flaws of the conventional real estate franchise? What happens if you and I are chatting and you tell me you would like to work for my broker? In a conventional brokerage, I would introduce you to my broker and if everything went well, I would be working with a co-worker whom I like. Although we are friends, I basically created more competition for myself didn't I? Not only did I create competition for myself, I don't even get compensated for doing so. Not once, not ever.
Let’s talk retention.One of the biggest problems in a conventional real estate office is keeping their agents. How many people do you know who have switched brokerages over the years? Did you ever wonder why anyone would leave a successful brokerage? What mechanism do they have in place to retain their staff? After all we are all independent contractors and we can be working for another broker 2 hours after we walk out of our former broker’s office can’t we?You all know that the real estate industry has a high turn over rate.
The conventional idea of “recycling agents” by constantly hiring new agents who eventually lose their motivation has gone the way of the buggy whip. Exit Realty has created an environment where retention is the key, not recycling.
The 50% / 50% Split The conventional idea of taking 50% of an agent’s money up front causes a problem too. This idea basically punishes an agent during what is typically the slowest season. Income is limited and during a time when we all should be advertising more.
Problem solved…Exit Realty Corporation pays its agents 70% from day one. Exit gives you the money you need and let’s you decide where to spend it. The choice is yours. Spend the extra income on advertising, technology, web marketing or any other place you like. In addition, you no longer have to pay 8-10% off the top to the franchise for "advertising".
Why would I or any other agent sponsor you to come and join EXIT Realty? Besides the obvious (working with someone I like and respect), I am creating a second income stream for myself as well as building a team of agents who benefit as the company grows.
Exit Realty Corporation will not only reward you once for sponsoring an agent into the company, but they will pay you a bonus equal to 10% of any gross commission earned an agent you sponsor so long as you both stay with Exit Realty (up to $10,000 per year per agent sponsored). Keep in mind that is not 10% of the agents take home or 10% of the brokers cut it’s equal to 10% of the GROSS commission (right off the top).
For example, the agent you sponsor sells a property and earns a $3,200 dollar commission. In that case you would earn a bonus equal to 10% of that amount which puts an additional $320 in your pocket for simply making an introduction.If for example I decide to mentor you, I am not only helping a co-worker, I am creating future income for myself.
IT GETS BETTER
I am sure this all sounds good but what if the agent you sponsor moves across the country? No problem… even if an agent transfers to another office in North America you still get receive your bonus. You can sponsor anyone in North America.How great is that?
Sponsoring agents should not be your primary motivation for joining EXIT but it sure is nice to know that the option exists.I can tell you from personal experience that simply making the move to EXIT has caused many people to ask me why I made the move,so many in fact that I created this site.
How many times has the subject of real estate come up during your career and someone said, I think I would like to sell real estate? Over the years it has happened to me dozens of times. I know I have helped at least a dozen people get into this business. Too bad I wasn’t with EXIT at that time. THE FUTURE If an agent is currently working, what financial incentive does that agent have to stay at their current broker? Good question since most brokerages provide no retirement, no benefits and no additional income beyond the sales commission you earn. With Exit Realty Corporation you not only have an incentive to stay with Exit you can actually retire and still receive a bonus equal to 7% of the gross sales of all the agents you sponsor (up to $10,000 per agent per year).
Think about that for a moment. You actually have the potential to not only retire but actually increase your retirement income over the years. Most pensions are fixed.With EXIT, your "pension" can actually increase as the agents you sponsor gain more knowledge and experience.
Just because you retire doesn’t mean you quit.You can continue to sponsor agents anywhere in North America. Hopefully by the time you retire you can put that silver tongue to use and keep promoting EXIT Realty.
Search Property for sale in Benzie, Grand Traverse, Leelanau & Antrim Counties. Find Lakefront property on Long Lake, Green Lake, Silver Lake, Bass Lake, Boardman Lake, Dyer Lake, Lake Doubonnet, Duck Lake, Rennie Lake, Spider Lake, Indian Lake, Cedar Hedge Lake, Ellis Lake, Fish Lake, Brown Lake, Sand Lake, Muncie Lake, Arbutus Lake, Fife Lake, Little Traverse Lake, Lime Lake, Lake Leelanau, Cedar Lake, South Bar Lake, Davis Lake, Elk Lake, Lake Skegemog, Clam Lake, Lake Bellaire, Hanley Lake, Ben-way Lake, Torch Lake. Jules B. Yates (webmaster) - Associate Broker, Exit Realty Paramount, Traverse City, MI 49684 - 231-218-5199. Real Estate for sale in Northern Michigan.
The information contained herein and contained in any supplemental documents has been furnished by the seller and/or other sources. We believe these to be reliable and have made every effort to provide accurate information. However, the brokers involved are not responsible for misstatements of facts, errors, omissions, prior sale,change of price or withdrawal from the market without notice. Owners are not to be contacted directly by referral brokers, agents or prospective purchasers. All arrangements for inspection of the property must be made through the listing agent.
