Careers
The Exit Formula is the brainchild of the company's founder and CEO, Steve Morris. With 25 years of real estate experience gained from specializing in management and sales training combined with his unique understanding of residual remuneration from once being a top life insurance salesman, Morris opened Exit Realty Corp. International in Toronto, Canada in September of 1996.
He is now franchising Exit Realty operations across the continent. He has sold over 1,300 franchises and the number of recruited salespeople is now approaching the 47,000 mark. This eight-year growth pattern represents just the tip of the iceberg regarding this entrepreneur's ultimate objectives. The Exit blueprint has been forged with a strategic business architecture that includes opening 3,200 franchises in North America with over 100,000 sales representatives.
The Exit Formula
Whenever a salesperson is introduced to management and recruited into Exit, bonuses are generated from transactions closed by the new recruit. These bonuses are payable to the individual who sponsored them into the company, which is equivalent to 10% of the gross commissions earned by the recruit.
This bonus is paid by Exit's head office and it in no way affects the commissions due and payable to the new recruit. This bonus simply continues perpetually for as long as the new recruit stays in Exit and generates sales.
Plus, sponsoring is unlimited across the nation. Where ever Exit Realty has an office, salespeople can get residual bonuses. Thus, everyone can participate in the growth of the company and receive bonus monies at this very substantial rate.
Each associate has a vested interest in the growth of every office of Exit, creating a great reinforcement for management. And as the company grows, the intensity of the focus grows. With residuals, new brokerages mean new opportunities to everyone in the corporation.
The salespeople in any organization are the true assests of the corporation. They generate all the front-line money that pays the bills and stimulates the profit. With this in mind, it became obvious to Morris that residuals must therefore be utilized in the recruitment process. The methodology of putting one person in charge of bringing in new blood, Morris says, is outmoded and a "very poor model for progressive business." It's risky, he says, and leaves all potential success from production and profitablity restrained to moderate levels.
"Why not put everyone in charge instead?" Morris says, adding that with residuals, it is possible for every person in the corporation to recieve a piece of the action, paid out residually for as long as those they sponsor into the company generate business.
And these residuals can add up handsomely. For instance, an agent earning $70,000 gross per year stimulates $7,000 in bonuses to the sponsor as transactions close. If that same recruit stayed for nine years, the sponsor would have received $63,000 in head office "thank-yous" for introducing that agent to the company. If three people were sponsored in, for example, doing this same level of production, then $189,000 would have been received in bonuses.
Sponsoring, therefore adds a third dimension to the real estate industry that has never been available before. Each EXIT associate has a vested interest in the growth of those who they sponsor into the company and this adds a new income stream and fulfills the third dimension. Now, sales people can take listings, make sales and sponsor. This adds leverage from an earnings standpoint to the sales person, greater profitability potential to the broker, and ultimately greater success achieved for the customer. This triple "win" combination outflanks all other systems available in today's marketplace in the real estate industry. It is truly real estate re-invented.
Retirement Income
At Exit, should you decide to retire from active selling, you will continue to receive residuals at the rate of 7% of the gross, paid out to you by the corporation for as long as those you sponsored into the company continue to make sales. This also translates into a 5% beneficiary program to give added security to the families of Exit associates. Very simply put, good for the sales person, good for their family.
This unique EXIT remuneration systrem produces Real Estate sales people who are more financially secure and more highly trained and this is the ultimate benefit for the customer. And the customer is why we are in the business!
