| | | July 4, 2007“Exit Realty’s founder is ahead of the curve,” says broker/owner Paul Romriell of EXIT Realty Pocatello. Romriell was speaking to a group about real estate’s history and its future. “EXIT has only been around for 11 years and we have almost 39,000 agents right now with a projection of around 50,000 by the end of 2007. Steve Morris was right on track with this real estate business model. Now, those in real estate can make a career they can actually retire from. That is very exciting!” Steve Morris
CEO and Founder EXIT Realty Corp. International
Why: Introduced a residual business model that let associates earn a percentage on the sales of their recruits. Taking a page from the insurance sales industry, where he’d worked, Steve Morris built a franchise by giving each sales associate a share in the success of the entire enterprise. Exit offers sales associates 10 percent residual bonuses from the corporation on the transactions of other associates they bring to the company and mentor. This unusual compensation offering has enabled Morris to grow the franchise to 1,007 offices and more than 30,000 sales associates in less than a decade. Exit’s training is also getting rave reviews with its emphasis on mentoring and coaching as well as classes. After a stint with The Permanent, Canada’s third-largest real estate company at the time, Morris joined RE/MAX in 1984 and within a year was named Top Manager in North America by the franchise. During his tenure, he was also named Broker/Owner of the Year for multiple offices. A dozen years later, Morris launched a model that gave associates a shot at more than 100 percent earnings through residuals.
|  December 2006 | |
