Devalued Life Team (“D&L Team”) Agents
Are You a Devalued Agent?
In the past 13 months, Momentum has partnered with nearly 100 agents, and many have had some downright depressing stories to tell about their agent lives before Momentum.
One is about a Duval/St. Johns independent brokerage team, which a group of agents left at the same time, in order to join Momentum. Since their experience demonstrates how Momentum differs from other brokerages, the charts below show the particulars, but the bottom line was this:
They felt they were living Devalued Lives, working for a tiny fraction of their commissions, and treated like micro-managed, low-paid employees with limited opportunity for success.
Here are some examples of how Momentum is hugely different from that “Devalued Life” (“DL”) team, and we found them shocking. But you be the judge.
Show Me the Commission: Devalued Life (DL) Team vs Momentum Realty
The numbers tell the story: On a $200,000 sale, agents with the DL Team take home $692.50 (12.6 % of the gross commission) versus $4,850 (88.2% of that commission) at Momentum.
Think about that a minute: 12.6 % at DL and 88.2% at Momentum.
That means to make the same amount of net commission, you would have to sell 7 times more homes – and work 7 times more hours – with the DL Team compared to Momentum.
Here’s what two of our former Devalued Life Team agents had to say about the impact of making the move to Momentum:
"I just realized with 7x less profit, if you closed 12 homes a year with Momentum you would have to close 84 sales to make the same money. Seriously, who wants to work that hard for peanuts? That's insane!
- Agent who left DL and Joined Momentum
"$65k to $160k in 9 months. Own it all. Vacation when I want. Prospect where and when I want. It's fab."
- Another Agent who left DL and Joined Momentum
There’s More Than Commission to Consider in Choosing a Brokerage
Of course, there are many other variables that go into a successful, satisfying career in real estate. It isn’t all about the commission – everyone would work for a 100% commission brokerage if that was the case.
It’s also about:
· Whether you are allowed to run your own business and work schedule as you see fit.
· The level of respect you are shown by your brokers.
· The type and frequency of training and mentoring you are offered.
· Whether you are allowed to own your most valuable asset, your customer database.
· The advice and support you receive for growing as a new entrepreneur with virtually unlimited opportunity to become hugely successful.
· The camaraderie you build with your fellow agents, including some of the best, most experienced in the business, as well as new, inexperienced agents who are there to learn from the best.
· The positive, can-do, Think Big attitude of your broker, staff, and fellow agents.
· The stability of a workplace where agents come, grow, and stay instead of constantly leaving on a revolving door.
· The pride you feel when working with a brokerage known in the community for its unparalleled customer service and respected in the industry for being cutting edge, highly knowledgeable, professional, and agent-focused.
Does Your Brokerage Let You Own Your Most Valuable Asset?
Before we compare what Momentum’s former Devalued Life Team agents had to say about these types of factors at DL Team compared to Momentum, let’s consider one of them in more depth: owning your own database. These are the contacts and relationships that you build yourself, sometimes through online leads and often – hopefully -- through getting reviews, referrals and repeat business. (Momentum specifically trains it agents on how to build a 3R business.)
Your database is the single most valuable asset you own as an agent. And when you move on from your brokerage, for whatever good reason you may have, if you don’t own your database, if your brokerage claims ownership to it, you are in a bad place.
If your brokerage is one of those that will go so far as to sue you if you even talk to someone from your database after you leave, you are in a bad place.
You could have 5 years’ experience and a big, healthy database that you worked hard to build, but if you don’t own it, when you leave that brokerage you are starting from scratch.
Real estate agents with significant wealth and great lifestyles –what every agent strives for –achieve that over time by building their database and nurturing it.
Yet many agents don’t realize the importance of owning their database it until it is too late. Some DL agents didn’t realize they didn’t own their database until it was too late.
One former DL agent put it this way:
“I wish I had known about this sooner…. My eyes are completely open now.”
- Agent Who Left DL and Joined Momentum
Non-Commission Value Adds: Devalued Life Team (DL) vs Momentum
How Does Your Brokerage Compare?
If, like our Momentum agents from the Devalued Life Team, you are dissatisfied with the money you are bringing home and the lifestyle you are living at your current brokerage, remember that you have options.
You can get out.
Whether you are an experienced agent or a newbie, there could be a place for you at Momentum.
We know firsthand that moving on isn’t always comfortable. But this is about YOU and the life you choose.
Exploring your options for a more successful and satisfying financial and professional future is what we do at Momentum.
Contact us for a confidential, no-pressure convo. We can make a plan.
Newer Agents Are Welcome at Momentum!
Momentum’s Customer Obsessed philosophy leads us to seek only experienced agents as full associates. But new, inexperienced agents also have a place at Momentum!
Yes, you could be earning more in commissions under our Mentorship Program (only a 20% referral for your first 10 transactions), while being groomed for greatness by some of the most successful agents in our local area.
Our mentorship program already has graduates who are out there earning 100% commission and doing it their way, not the way their broker wants them to do it.
Alternatively, some of the teams that have joined Momentum are taking new agents under their wings. These are incredible opportunities for those who are looking to make the leap but want to continue working with an online lead model.
The initial bump in commission won’t be the 7X our more experienced agents are earning – that’s something to work toward and aspire to – but you will likely still take home about 2X what you do at a brokerage like the DL Team.
Either way, it’s a big step up from living a diminished, Devalued Life to becoming a new entrepreneur, building your potential to live the Big Life you’ve dreamed of, by joining Momentum Realty.
Interested in learning more? Contact Jon @ 904-570-1216.
Message from Jon Brooks, Momentum’s Co-Founder:
We started our brokerage after realizing that our Brooks Group team members weren’t thriving under our Big Box brokerage financial model. For example, one of our top team members sold nearly 28 homes in 8 months, but after the 36% brokerage split, and the 50/50 split with our team, plus the costs of her health insurance, daycare, gas money, monthly fees, other junk fees, self-employment taxes, etc., etc.… she had virtually nothing to show for it.
This agent who was working incredibly hard, and had a huge volume of sales and gross commission, was taking home barely enough to get by. Even worse, she owned nothing. She didn’t own her database. So, what’s the point? Why build a business where everyone on your team is broke?
The purpose of business is profit, not gross commission. Net take-home is what matters. That is the mindset that guides Momentum.
We invite you to consider joining us.
Comments about the Author:
Jon started as a real estate agent in 2015 in a new city and with no database. In his first year he sold $12.1M and served 66 customers. In his second year, he sold $21.1M and served 74 families. In his third year, he and his team sold $36.2M and served 143 families. He then became a net worth millionaire (coming from debt of $80k). The following year, he co-founded Momentum Realty to give away everything he learned and to help others achieve financial success through real estate. Jon is now non-licensed and coaches and mentors agents all across Florida.
