Forest Hills Forum Forum Index
RegisterSearchFAQMemberlistUsergroupsLog in
This topic is locked: you cannot edit posts or make replies. Page 3 of 4
Goto page Previous  1, 2, 3, 4  Next
EXIT KINGDOM SUCKS. THEY ARE LIARS. THEY SCREWED ME OVER..
Author Message
Reply with quote
Post  
http://exitrealtycorp.blogspot.com/2007/03/exit-realty-is-scam.html

http://www.youtube.com/watch?v=4QbfY2vefXo&feature=related

Saturday, March 31, 2007
Exit Realty is a Scam


I still can't believe how many people are getting scammed by these people from Canada. Steve Morris. If you have watched the pitch video and still joined them, I don't know what to say. Maybe there is a bridge in brooklyn i can sell you.

The formula is simple, you pay them $300 every year no matter what you do. that $300 is gone. Then you are encouraged to buy business cards, stationery, training DVD's, training camps, rallies, that's all going to end up to $1000 or more just your first year of doing real estate with these people. Have you made any money? probably not. It's a cult. Like Amyway or World financial group.

Listen, it's simple, any job where you are hired but you have to pay them first, is a scam. No legitimate business requires you to pay them anything. Even working at mcdonalds you don't have to pay upfront.

And the problem is , can you sue them? Good luck, they are in canada.

Posted by Exit Realty at 6:55 PM

Reply with quote
Post  
esau esau is offline
New real estate webmaster

Join Date: Feb 2007
Posts: 1
esau is on a distinguished road
Default Over-promise & Under-deliver
I'm an agent at an Exit Franchise presently, but I won't be here for long. I'll be headed to RE/MAX in the next few weeks. I'm just sticking around long enough for them to pay me the commissions they owe me, which they claimed would be at the beginning of March.

In this case, it's not the corporation that's at fault, it's the owners (whom are actually regional owners - truth be known). However, they "drank the Koolaid", got greedy, kept telling themselves everything was fine, and kept propping themselves up mentally with affirmations. It's obvious they veered off their biz plan, and made some very bad decisions, thinking they were going to get rich fast. They made a lot of promises, and now they're taking a number of families over the cliff with them.......

Granted, this could happen in any business. Any team is only as good as its coaches, or in this case, the biz is only as good as the owners and management. So some of the things that are causing the situation I'm in could have affected another brokerage, or a lemonade stand for that matter. My point is this, the model is such that it does not allow for much middle ground - you're either doing well, or you're sucking wind in a big way.

Here's what I've learned about the Exit model. The office better be established and cranking business, or have deep pockets and a good biz plan. 20% is awfully skinny, esp. under our present market conditions. And if they don't keep the desks filled, and the franchise sales in motion, then things go downhill in a hurry.

Sure they don't have any desk fees, but they have transactions fees, and as we found, they can jerk them upward at any time. Ours went up $45 a side to assist them in carrying Exit's corporate plan to put billboards up all over the place. Billboards with just the logo and the tag line "Exit Realty is Growing". The problem with that? Sure it establishes brand identity, but billboards, like yellow pages, are directional media. You use them to help finalize the buying cycle (connect buyers & sellers). True, you can use them to market image and establish brand identity. By why would you put up a billboard without any contact info on it?!? No phone numbers, no addresses, no URL's, no email addresses - absolutely nothing. And then ask your agents to help pay for the program and they have no say over it? What's next?

Let's return to the 20% that keeps the brokerage alive. Sure, if you're an Exit agent you pay for very little, if anything at all. That means all expenses that are normally paid for by the agents are coming out of the owners pocket. Yet if there are not enough agents, thus not enough sales, then the slide into the black hole begins. The breakeven point is a razor's edge for an Exit brokerage. The agents are not helping to defray many expenses.

Then there's the Exit Resource Center. What a friggin' joke. Sure, it's convenient, and you can purchase all sorts of supplies and services there. And if you do, then the regionals and/or brokerages get a kick-back. Evidently that's one of the pillars that the franchises are brainwashed into thinking will help them sustain their business. I was wondering why I got scolded when I bought my biz cards elsewhere - my broker didn't get his cut. Exit corporate does a nice job of motivating sales thru the Exit Resource Center and makes agents aware of new product or service offerings. Nearly every agent conference call that's supposed to be for training has a sales pitch attached that you have to sit thru to get to the real content. Make sure you don't step outside of the box either if you purchase goods or services to market or promote yourself. If your brokerage is ailing, you're probably going to hear about it. Sit down, have some more koolaid.

I tried recruiting, but being a "gnat" buzzing around my fellow realtors preaching the merits of Exit was difficult to stomach. I value my professional relationships & friendships, and I too disdain pyramid schemes and multi-level marketing. Sure, ask me why I got onboard then. Suffice it to say, my sip of koolaid was tasty, and I was rather thirsty.

Be careful of the Exit brokerage you get into. Find out if they'll tie your hands on recruiting. Ours did. They limited how we could market for new agents, and we couldn't step on their toes in the marketplace. Our brokers stated they'd contacted nearly all good prospects in our markets (small markets), and already had relationships established. Basically they wanted a piece of every recruit, and would try to work deals. There's nothing preventing Exit brokers from splitting the residuals with you. They may bill it as 10%, but if they claim they already were working on someone you brought in, it could get weird.

About the only recruits that seem to join Exit are newer folks, at least in our state (YMMV). That means there is plenty of training necessary, they don't come up to speed rapidly (there's that 20% for the brokerage rearing its ugly head again), and they will require considerably more broker oversight (unless you're a good sponsor and take time to make sure your recruit is learning, motivated and moving ahead with his biz plan). The only way to make decent coin off the residuals is to have a number of recruits under you (you get capped off at $10,000 per recruit). You do the math. If you wish to make some residual $$, then you'll need a number of recruits. Most will probably be newbies and need regular assistance. And I'm OK with that, I actually enjoy it. I also enjoy selling real estate. Therein lies the "rub" - there's only so much time in a day, how do wish to use yours?

I sat in on a recent "60 Minutes with Exit" recruiting session that we put on. We were told to invite associates and bring spouses (cuz corporate likes to know our families are behind us.....are you sharing your koolaid? You should be!). My rough estimate - of a room occupied by approx. 100 people, maybe 30 were viable candidates for recruitment. The rest were family or from real estate associated businesses that were just there to listen to the speaker and eat shrimp and drink cocktails. And the speaker sucked - it smelled of pyramid scheme, and friends of mine told me so.

What goes up, must come down. Sure, "Exit Realty is Growing" - but for how long? It may be a new biz model, but it's not the first, and it won't be the last. Someone will take this model and tweak it. Some Exit regionals and franchises will crash & burn. Some will prosper.

As others have said, pick your working environment carefully. Cherish a good situation, remember the grass isn't always greener (even if it's a new variety), and if something smells or looks funky, then listen to your inner voice. It was put inside of you to protect you.

I'm "Exiting". I've had enough of the BS. I no longer like the taste of the koolaid. I don't care if Steve Morse is sending me an "Affirmation CD". I don't ever want to see another "Morse Code" email. I'm looking for solid ground, and a business model that doesn't attract "pie in the sky" owners and brokers who eventually forget what integrity is when the going gets tough.

My advice if you're thinking of joining Exit? Ask yourself why, run the numbers, look at your personal marketing plan, and listen to your inner voice.
Last edited by esau : 02-15-2007 at 08:30 AM. Reason: speln & gramr
Reply With Quote

Reply with quote
Post Re: The real scam 
hahaha EXIT makes me laugh. cai mas rapido un hablador que un cojo. pinches viets- after la tranza que me hicieron you should not talk. the only scammers are you. Many of us can verify this.







[quote="guest"]Shame on you for decieving the public. You should let them know that this forum is owned operated and monitored by ADVANTAGE REALTY OF FOREST HILLS on the same block as EXIT KINGDOM REALTY.
Domain Name.......... foresthillsforum.com
Creation Date........ 2006-01-23
Registration Date.... 2006-01-23
Expiry Date.......... 2011-01-23
Organisation Name.... Peter Tsang
Organisation Address. P O Box 99800

Theres plenty of business for all the real estate companies in the neighborhood, yet you fell so threatned by their success you feel the need to spread rumors.
Post a couple of made up customer complaints and watch it go. GOOD IDEA

While you are wasting time on this EXIT KINGDOM REALTY has been building its market share. In 2007 we have sold more residential properties than any other Real estate office in New York.

I wouldnt be surprised if this post was deleted like some of our past posts
Shame on you advantage realty!![/quote]

Reply with quote
Post passer 
I have a question for all of those sellers who accuse Exit kindom of scammer. Did you do any market research or appraisal before the selling?
Why would you believe your house could sell at a price twice of its market value? Or you were just hoping some idiot buyer take your bait anyway?


The realestate agent might be misleading, but in the end, it is the owner who decide on the listing price and final selling price, not the agent.

The downturn market, as well as your own greed are the culprits.

And PLEASE , stop using racially charged words.

The only you are humiliating and degrading is yourself!

Reply with quote
Post  
I'd thought the cops closed them down the other year already. I know Vinnie Koo and his wife Lily used to sell life insurance. That got shut down. Then they tried to sell real estate in flushing. And that closed down. Then he tried to push his mother in law or something out of the way in the forest hills office. I know that closed down. Now they signed up with some pyramid scheme in real estate recruiting. I'd thought they got violations up the wazoo and was closed down last year? Are they still around?

Reply with quote
Post EXIT KINGDOM REALTY. 
If all that is being said about Exit Kingdom Realty is true, and from the tempers that are evident here I tend to believe it is, wouldn't it be better for all of the victims to file a class action suit and/or notify Andrew Cuomo the NYS Attorney General.

Complaining is fine as long as you make sure it is in the ears of someone who can help make it right. I can't imagine how many others might have been taken in by them...or how many more in the future.

Don't Get Mad...Get Even!!

Reply with quote
Post Re: EXIT KINGDOM REALTY. 
Making it Right wrote:
If all that is being said about Exit Kingdom Realty is true, and from the tempers that are evident here I tend to believe it is, wouldn't it be better for all of the victims to file a class action suit and/or notify Andrew Cuomo the NYS Attorney General.

Complaining is fine as long as you make sure it is in the ears of someone who can help make it right. I can't imagine how many others might have been taken in by them...or how many more in the future.

Don't Get Mad...Get Even!!



Would you have to file it against the franchisee or have to file it against the main corporation? It would be ideal if all exit branches are brought to justice but of course that would cost more time. Perhaps it's better to start with one local office.

Reply with quote
Post Exit Kingdon 
I have been looking a house in Forest Hills and found that time and time again, EK had the MOST expensive prices while other brokers in the area were $50k lower. Word to the wise... I had a healthy down payment but after crossing paths with Vincent on several occassions, I decided not to look at ANY houses that they had for sale...

I feel bad for the home owner(s) because they do not realize that this is going on.... Well apparently some did.

I preferred Weichert....their prices are more obtainable, reasonable, etc.

Still in the market......hoping to buy soon.....Good luck everyone...

Reply with quote
Post exit kingdom 
I also had the sincere displeasure of meeting Vincent Koo, he actually tried to get me to quit my job, drink the cool aid, and join the Exit Kingdom cult. Fortunately for me, survival instincts kicked in. You know when you smell a rat? Well I did...

Reply with quote
Post Re: exit kingdom 
homeowner wrote:
I also had the sincere displeasure of meeting Vincent Koo, he actually tried to get me to quit my job, drink the cool aid, and join the Exit Kingdom cult. Fortunately for me, survival instincts kicked in. You know when you smell a rat? Well I did...


You are not the only one. He steals people's money. Someone should lock him and his scam up.

Reply with quote
Post Exit Realty 
I worked with Exit Realty and it is very hard to recruit anyone because there name is so bad. I had one person say it should have been a funeral home name! The have additional fees every month and you never know what your actual office bill will be. When you leave there is more fees. I have since gone with a company I love and there are no suprises each month. I would highly advise anyone considering Exit to move on. There are good companies out there but Exit is not one of them, please take my advice and do not get burned by this company.[/i]

Reply with quote
Post  
warren buffet is buying EXIT. Now lok at yourself. Largest RE company by 2015

Reply with quote
Post  
That smell of a rat is the slow death of REMAX. It always smells bad when your winning and your competetion is dying. The crows are flying high over the bigs boys. I like to compare them to Southwest Airlines from the eighties. I read over 2000 agents signed up last week. WOW. I guess the funeral guests have arrived. Remember, he who ownes the listings owns the market. EXIT owns 48% of all listings on the East Coast.

Reply with quote
Post  
Anonymous wrote:
warren buffet is buying EXIT. Now lok at yourself. Largest RE company by 2015


Warren Buffet has been spotted with Steve Morris over the past summer on several occasions. It is still too early to leak much details but when they reveal it to the public, Exit Realty will be the most valued part of Warren Buffet's stock selections.

Reply with quote
Post Exit what? 
Anonymous wrote:
I cannot believe everyone here dare to say so many bad things about Exit Kingdom Realty. I am sure everyone is just jealous of our success.

1. Exit is the largest realty office in Forest Hills!
2. Exit Realty is the fastest growing real estate company in the history of the world! Exit has been compared to as the Microsoft of Real Estate!
3. Exit has offices in all of north america, including Canada!
4. Exit has the BEST payout to our agents in the history of Real Estate!
5. Exit is the ONLY real estate company to pay out residuals for recruiting new agents!
6. Exit has NO desk fees, EVER!
7. Only with Exit can you make MORE than 100%!
8. Exit has REINVENTED Real Estate! Period.

Because of all these world leading facts, everyone is jealous of our growth.


-----

First, thank you for noting that Canada is now a part of North America. We appreciate finally being included in this exclusive club.

Second, Exit didn't reinvent real estate. All the did is turn every Sales Rep. into a recruiter in the hopes of additional income. Instead of desk fees Realtors are paying annual dues, transaction fees... it's really is just a money shuffle.

Third... If you are going to REINVENT real estate why wouldn't you work on the public perception of a brokerage and the quality/reputation/service..etc of the Realtors. I am sure the majority of the public doesn't care about the business model, or finds they EXIT residual scheme shady in some respect. now

Display posts from previous:
This topic is locked: you cannot edit posts or make replies. Page 3 of 4
Goto page Previous  1, 2, 3, 4  Next
You cannot post new topics in this forum
You can reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot vote in polls in this forum