Anyone here a EXIT realty franchise owner or former owner? ... or work for them in the past?

I'd like to find out what happens to your residual bonuses if you leave the company and go work for someone else. Do you lose them or continue to receive them?

You lose them. An agent's go to the broker and a broker's just stay with the company.

You only keep them if you retire. Then at a cut rate

Do you/did you work at Exit?

Good morning,

If an associate who sponsors someone leaves EXIT Realty, they have 30 days to join another EXIT office and retain their sponsorships. After 30 days, they lose the sponsorships. Please don't hesitate to shoot me an email if you have further questions.

Susan Harrison
SVP Corporate Communications
EXIT Realty Corp. International
sharrison@exitrealty.com

few more questions:

1.) When someone moves from one exit office to another, does the residual get split at all or does it all go to the person who originally introduced the agent into EXIT?

2.) If someone is 22 years old and works for 3 years at an EXIT office, and decides to "retire from real estate" at the age of 25, do they receive residuals for the rest of their life ?

3.) What if an EXIT franchise closes up shop and there are no other offices around for agents to join? What happens then?


Tks.

I used to own a franchise, but I would defer to the poster two above me. She knows the whole system insdie and out.

Good morning :)

RE: When someone moves from one exit office to another, does the residual get split at all or does it all go to the person who originally introduced the agent into EXIT?
- an EXIT Associate can move to any other office in the system and still retain all of their residuals regardless of where the person works whom they sponsored. IMHO it's one of the best features of the EXIT Formula. If the recruit moves to another EXIT office, then the residual is still paid to the original sponsor.

RE: If someone is 22 years old and works for 3 years at a EXIT office, and decides to "retire from real estate" at the age of 25, do they receive residuals for the rest of their life ?
- yes, as long as a) they remain a retired EXIT association and they don't work for the competition and b)as long as the people they sponsored continue to work at EXIT and close deals. You might be interested in reading an article I wrote recently about how I believe the word "retirement" is misleading - many folks need time off to raise kids, care for elderly parents, etc and find their 7% residuals very useful during those times http://www.exitrealty.com/entrepreneur.aspx
- another benefit of "retirement" is that it's enhance-able. In your example, the retired 25 year old could continue to sponsor agents into the EXIT system and increase his or her income.

RE: What if an EXIT franchise closes up shop and there are no other offices around for agents to join? What happens then?
- That's certainly a situation we wouldn't want to see happen. EXIT Realty is growing rapidly across the continent and leadership at all levels is working hard to ensure there are offices in every community. In the unlikely event that a brokerage closes and there are no other EXIT offices in the vacinity, then the sponsorships roll to the region.

Hope this helps!
Susan