Virtual Culture Is Full Of Surprises!
As I have written in several other articles about the Virtual Culture, we continue to be surprised by all the benefits that we have found for the Company, the Broker, the Realtor and the Consumer within the Virtual Culture.
The obvious benefits for the Broker and the Realtor, is that the Broker can now make a decent profit, and the Realtor can keep 100% of their commissions. That’s the short version of the benefits, but we have again stumbled into another unexpected benefit to the Virtual Culture.
The most recent benefit hit me like a sledge hammer around 2:00 am the other morning. The benefit is what we call our Annuity Program. With the annuity program we pay our Realtors up to 20% of our gross income on every Realtor that they bring into the company.
What dawned on me is that we pay our Realtors exactly what we pay our Brokers, and the Realtors have no legal or financial obligations. Even though I knew this we haven’t focused on the benefits that this program delivers.
The Realtors just sit back and collect checks. For the Realtor recruiters of this world there is no better program out there in the Real Estate Industry.
You can literally build a company of 500 Realtors or even a 1,000 + Realtor company and make a bundle without doing anything but recruiting. You don’t have to be a Broker; you don’t have any fees to pay on those you recruit. You have no responsibility to mentor the Realtors you recruit. You have absolutely no responsibilities at all.
The benefit to our Brokers is that the more Realtors that they have under their license that are have recruiting under this program, the more income they make, and the best part of all, the corporate office pays all the expenses.
Let me share with you what a Realtor would receive if they had 500 Realtors that they recruited.
500 Realtors x $295 per month = $147,500 per month x 20% = $29,500 to the Realtor.
So a Realtor can have a great side business with no obligations. The Broker and the corporate office take care of the supervision and all the other details.
Imagine if you were a Broker and you had 1,000 Realtors under you, the income you would make on a monthly basis; and that doesn’t even take into account our guaranteed buyout with the vested interest.
I continually have the top minds in the industry tell me that this business model is so simple and so far outside the box; but yet so realistic that in the next 10 years at least 400,000 Realtors will be in this business model.
It’s so exciting to be able to bring profitability back to the Brokers, and be able to not only give the Realtors freedom to do run their business as their business, but also be able to give the Realtor 100% of their commissions.
This is what the industry has waited for the last several years. The next evolution in the Real Estate Industry. I’m thrilled to be a part of this evolution.
Starting in Real Estate
January 21, 2019
Is There a Blog in Your Future?
January 18, 2019
Negotiating Tip 66: Pulling A Concession
January 18, 2019
Four Tips to Create the Perfect Podcast
January 17, 2019
Negotiating Tip 65: The Sugar Sandwich Walk Away
January 17, 2019
Blunt Truth About Cell Phones & Professionalism
January 16, 2019
2019 Real Town The Real Estate Network