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EXIT KINGDOM SUCKS. THEY ARE LIARS. THEY SCREWED ME OVER..
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hahahahahahaah! thanks for the pics!lmao!#%!

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Has it ever occured to any of you that the people who are posting this up is Exit's competitors. I mean....think about this. The forum is on Advantage Forest Hills Realty's site. Their offices are located on the same block.....?????

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FH Resident, could be. Quite a lot of people, tho, who has come into contact with Exit Kingdom, has had similar experiences.

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PS: ok i just did some research on Exit Realty itself. It seems that Exit is a ponzi scheme.

http://reyestate.blogspot.com/2007/06/exit-realty-uncovered-as-advocate-for.html
http://www.blogger.com/feeds/2747711677999854776/posts/default
"Norm, why is that Keller Williams is the fastest growing real estate company in North America. And is 10 times the size of Remax in the same business year?"

Those are numbers I'VE never heard...

Here is what I got from their corporate sites:

RE/MAX:
Open Offices : 5,400+
Active Agents : 130,000 +-

Coldwell Banker:
Open Offices : 3,700
Active Agents : 120,000

Century21:
Open Offices : 6,600
Active Agents : 110,000

Keller Williams:
Open Offices : 547
Active Agents : 58,810

ERA: - (Oddly low ratio of agents/office)
Open Offices : 2,800
Active Agents : 36,000

Exit Realty:
Franchises Sold: 800 ** They didn't mention number of open offices
Active Agents : 21,400


Speed of growth means little. I've seen new franchises pop-up and then drop. In order for this to be a true comparison, we'd need to see how many of these were new offices, how many ditched one frachise for a new one, how long they've kept them and how big their market share is.

And the comments about top agents joining ______ from RE/MAX means little. Especially since they are one of the largest companies out there. The agents I know that make more than a million a year in commissions are with RE/MAX. And haven't left and have no plans to...

And my comments about Exit stand. Not only is it the silliest franchise name I've ever heard (and you should hear what some consumers have said - LOL - they aren't nearly as nice) but because all agents are only being pitched the "residuals" concept they are getting most agents who are recruiting and not making sales.

Their whole pitch is "think residuals". How is this NOT like a pyramid or MLM?? In order to make money, SOMEONE has to make a sale. And this means if you want residuals you need to find other agent who are capable of making sales for you.

Though it is a trend I am seeing more often. RealtyWorld now has one (though I hardly see any RealtyWorld offices around).


There is a new real estate company now that has a MLM flavor to it. Let me tell you - it tastes like bitter herb. I am a licensed agent and I tried to place my license with this firm and they did a bait n switch with me.

I have already notified the state of georgia consumer affairs AND I will be notifying the real estate commission, BUT I do want to warn consumers to beware and be aware. Don't use them - they prey on investors - be careful.

Oh and they won't give me a copy of my credit card receipt OR tell me where they sent the information.!!!

EXIT Realty Corp. International adopted the same method of recruiting done in the Insurance industry. The key to profits is sign up fees from new recruits. While traversing on the borderline of legality, CEO Steve Morris denies that Exit is a pyramid scheme. Morris states that because only one level of residuals are paid out, no laws have been broken in the US.


Exit Realty generates the bulk of its profits from new recruits' sign up fees. These fees can range from $200 to $400. http://www.joinrealexit.com/FeesyouShouldExpect. Once a recruit is signed on, he may run into additional fees in things ranging from stationary to seminar costs.


According to various trade journals such as Realty Times, the first year failure rate is over 86%, and for those brokers or agents who have survived, over 70% have an income less than $30,000 (see Real estate broker). With these figures, the annual membership fee of $295 plus training course fees of $320 or more becomes the main source of revenue for Exit Realty Corp.


Exit proclaims that an agent can make more than 100% but that is done with erroneous basic elementary school mathematics. The formula proclaims that by making 10% off each of your recruits, you will earn more than 100% because each recruit generates 10% of their income for you. 10% from 11 recruits, according to the formula, would translate to a profit of 110% for the recruiter. If one follows the same argument, going to a store to purchase 10 boxes of cereal and paying 7% tax on each box, would incur a total of 70% tax. This, of course, defies any branch of mathematics.


EXIT was founded by CEO Steve Morris in 1996. It has grown in only 10 years to over 1,100 offices and more than 32,000 real estate professionals in North America. That makes it the fastest growing real estate franchise ever.


The growth of EXIT REALTY and EXIT REALTY PROPERTIES is substantially credited to the effectiveness and quality of its training programs. The mandate of the EXIT Realty system is to give their agents every opportunity to get the most and best out of themselves and others. Excellent teaching, training and coaching is a prerequisite for ALL of their agents and this means that they can better serve their clients.


EXIT Realty has a one of a kind sponsoring program that allows real estate agents to produce new sources of residual income. EXIT is adding 200+ agents/week in North America. It has paid out over $100 million in sponsoring bonuses since 2000. It won the Champions of Industry Award, a Pat Summerall production, http://www.bizjournals.com/dallas/stories/2004/11/15/daily58.html, for 2004 as seen on CNN Headline News.


This information is a summary of information from EXIT Realty marketing sources. See www.exitrealty.com for more information.



Fee Schedules


1. EXIT Annual Dues. $295.00


2. Regular training program fees. First program is FAStTRAC at a cost of $320.00.


3. Errors and Omission: E&O $18.00. Each transaction incurs a $18 Error and Omission fee.


4. Realtor Fees. These fees are incurred by all agents and are paid directly to your local Board of REALTORS. Please inquire with the Broker in Charge.


5. Transaction fee of $150.00 for all transactions.


6. No desk fees just like all other realty companies.


7. You are responsible for all your business needs such as stationary, cellular phone, and related business requirements.



External Links


* article on Exit Realty based on interview with founder
* [mms://video.lantrax.com/exit/UpClosePersonal18min.wmv Exit promotional video]

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This is from : http://reyestate.blogspot.com/2007/06/exit-realty-uncovered-as-advocate-for.html

As an advocate for good real estate, I couldn't help to pass up the opportunity to critique Exit Realty. The company with the CEO that claims you'll "Get the greatest return in the history of the world!"

I don't recommend watching their 18 minute video (unless you're having a hard time falling asleep at night), however its interesting to see the self-absorbed CEO wiggle around what is commonly know as a multi-level marketing scheme and deliver the longest recorded value proposition in Guinness Book history.

No mention of service, no value delivered to the consumer, no contribution to the real estate industry or unique value proposition. Exit Realty on it's best day is a cheap and unprofessional growth system that is positioned for bad business while walking a fine line of ponzi scheme. Let the quality of their website illustrate the quality of there brand (lack there of) http://www.exitrealty.com/.

In closing, I despise the name "Exit." This is by far the dumbest name in the real estate business. As a buyer or buyer's agent I like the name exit because it automatically makes me think desperate, or extremely motivated, or low ball city! I'm not sure why a home seller would even consider a name or brand like this but who am I too judge. Let's see if they are still around in 10 years, then again, look how good Amway has done...

posted by ReyEstate at 1:14 PM

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Sorry for separate posts. Here is the promotional video for their $700 DVD's . Notice the CEO of Exit is against reading books while promoting his $700 DVDs.

http://www.youtube.com/watch?v=peZp4g-uvjA

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All you people bashing Exit should get your facts straight. First of all Exit is not an MLM company. The residuals are single level. Next I'm guessing that you are going to tell me insurance agencies such as Allstate are scams and MLM because they pay residuals and the agent who sold you a policy is getting paid over and over everytime you renew. By the way this is where Steve Morris, the founder of Exit, came up with the idea. Why should insurance salesman constantly get paid? Why couldn't there be a way that Real Estate Agents could get paid over and over? He launched the idea of the Exit Residual program where agents could sponsor in other agents and get 10% of their gross commissions. In order to get the 10% agents still have to sell Real Estate and are even encouraged to teach and mentor sponsored agents. Is it so bad that someone with experience would spend time teaching and mentoring a new agent? Is it wrong because they have a beneficial interest in that person doing well? I currently also work with merchant services company called First Card that sells credit card processing. They happen to pay a monthly residual based on profits obtained from the merchant. Is it wrong that I have a reason to care about them now? Is it wrong that I have an interest in seeing their business do well? Is it wrong that I may recommend their business to other people? Is it wrong that I will provide them with better customer service than a salesman that just gets paid a commission for the initial sale? Is that MLM? Is that a ponzi scheme?Furthermore, many companies in many industries will pay a bonus for referring them to an employee that they decide to hire? At some places that amount can even be $10,000 at least in the accounting industry. Does that mean all of corporate America is MLM just because they want to be introduced to good people?

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ReyEstate according to you any Real Estate Office is MLM. I mean isn't it. Even the boutique ones/ A broker hires a salesman and then takes a piece of their action. He gets paid based on whoever he hires and their production... wait I mean sponsors into his business. Just because he gives them a better piece of the pie than a typical corporate employer does is there a problem with that?

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Fee Schedules


1. EXIT Annual Dues. $295.00 - How is this different then being part of any other franchise in America?


2. Regular training program fees. First program is FAStTRAC at a cost of $320.00. - In Exit Kingdom Realty the only cost is $100 for the manual.


3. Errors and Omission: E&O $18.00. Each transaction incurs a $18 Error and Omission fee.- Oh I mean you are considered a licensed professional in New York. Is it a surprise that you need to carry some sort of insurance? Would you expect a doctor to not have to pay for insurance?> What about a lawyer? What about an accountant?


4. Realtor Fees. These fees are incurred by all agents and are paid directly to your local Board of REALTORS. Please inquire with the Broker in Charge.


5. Transaction fee of $150.00 for all transactions. - This is in addition to a brokerage fee and is no different than any major real estate franchise/


6. No desk fees just like all other realty companies. - There is no recurring monthly fee to reimburse your broker. Remax is know have having huge desk fees in upwards of $2,000 / month.


7. You are responsible for all your business needs such as stationary, cellular phone, and related business requirements. - You are an independent contractor. Is this any different then doing freelance journalism. Yes you pay for these expenses but you don't work 9-5. You set your own schedule are basically running YOU Incorparted.


Exit Realty is a scam. It's a pyramid scheme with a crappy(no pun intended) name. You got annual fees of $300 to be a member, then it's not really 70%. When you close a transaction, they tag on a 3% making you 67%. then there are MORE transactions costs. in the end you end up making WORSE than other franchises. Not only that, that is IF you sell a property. If you don't you are down $1000 a year my friend. Exit Realty is exactly like Amway, or those other cult like pyramid scheme. STAY AWAY! if you lose money, don't tell me i didn't warn you.





Elizabeththethird

I would not say Exit Realty is a scam. I would rather call it misleading. What they don't tell you is that less than 3% of all associates who signed up ever makes any money. This was true in our office and true to other offices in our area. And the rallies, oh how fun they were, I might have as well walked into a Scientology meeting. It is the same brainwashing going on. But it's your free choice to choose to work with Exit and they didn't force anything on you. What is the problem is that most people don't think about how the system actually works. But instead just regurgitate what has been told to them.

If you try to work them through step by step how it happens, they will usually close off their ears and repeat the same rant that has been taught to them by Steve Morris. Sad but I don't think it's illegal much like Scientology is not against the law.



nationalrealter

It's hard to say whether Exit Realty is illegal or not. My guess is they are probably not illegal much like a lot of late night infomercials are not. But what they are is an unsustainable business. As soon as they run out of new recruits, they will topple. Now is that a pyramid scheme? Yes, because you do not have to have more than 1 level residuals to qualify as a pyramid scheme. Single level is as much a pyramid scheme as multilevel. The problem is not all pyramid schemes are prohibited by law.

Read about it here.

http://www.answers.com/exit realty

http://exitrealtycorp.blogspot.com/



Elizabeththethird

I am a little concerned that you have to do more than 8 transactions a year or you will be classified as retired. Anyone else not comfortable with this?



Elizabeththethird

http://video.google.com/videoplay?docid=-215989802739458876

Does this sound familiar?



claryproperties

I am currently with Exit. I was attracted to the compensation plan and residual potential. Although I don't believe Exit is a scam, I have not done well in this envornment. I feel the company support offered by more traditional brokers is something I need. My office had 6 agents at its height, and I was the top producer. Now it's just me and 2 part time agents. I am leaving after my next closing for another local company. I expect this office will shut down before year's end.



regionalsales6

Sorry to hear about your situation claryproperties. For me, 2 Exit offices and 3 years later, I am going to leave next month. The residuals and the big 70% split sounded great but never materialized to anything I could live off from. First office closed down and I'd thought it was just bad management there. Almost 2 years now in second office, I can't afford to stay. Guess it's time for me to exit exit. I doubt this office will be around by Christmas. Kind of sad but live and learn.

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oh i loved the poos pic, he really looks like a poo. its ppl like him that give viets a bad name. i heard that he dislikes himself so much that he acts chinese. Why u ask, simply because people especially other asian groups dont trust viets- and it all due to all the poos and trans of the world. STOP stealing other peoples customers, STOP stealing other companies pictures, STOP acting like what you arent.maybe EXIT realty shouldnt be hassled, maybe the real problem is that one branch in forest hills- the viet branch as i call it. i have a feeling that they are the ones using devious way attract customers, and they are the ones lying. STOP giving your fellow viets a bad name!!!!!!!!!!

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damn, take it easy, chingadapoo. lol. but i gotta say that was funny. I like how they are so fake they even fake their ethnicity and tells me they are chinese. What's so wrong with being Vietnamese? Take pride in your heritage! unless you were Vietcongs. Maybe they are VC's? Killing our boys. Say 'YES I AM VIETNAMESE'. But nooooo, da poos and da trannies has to pretend to be chinese. Self haters. Trannies....are they really transgenders? Well, I have transgender friends. They are nice. Stop giving transgendered community a bad name too. Stop your self hate. Love yourself. Say 'YES I am VC! Yes I am Transgendered!' Be proud!

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Post HA-HA-HA 
Laughing

Fuck all you greedy sellers and real estate agents. This is what you get. You all want to screw decent buyers and you all wind up ass fucking yourselves.

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Post Truth about the Exit Real Estate Franchise Model 
I've attended two 60 Minutes With Steve Morris agent recruiting presentations and performed several interviews with local EXIT agents and brokers and here's what I believe about the EXIT brand. Steve Morris is the founder and President of EXIT Realty Corp International, the firm that sells the franchise brand by State areas to EXIT State Level Territory Owners that in turn sell the Franchise to local broker owners. The local Qualifying Broker owner is an independent business owner and they operate under permission from EXIT REALTY as a franchise brand licensee. Note that the EXIT brand is only as good as the local broker owner makes it, if she or he is a good Broker Owner with sound Marketing Management & Real Estate skills then that firm should prosper and do as well as any other franchise Real Estate brand, after all we've all been in McDonald's restaurants franchises that were clean and the food was fresh and other McDonald's restaurants that were dirty and food was cold, some McDonald's stay in business for years, others go bust, but even the best was still only as good as the individual McDonald's franchise owner. The difference is that McDonald's restaurant brand has a very strict franchise program, just because you have the money for a McDonald's restaurant does not necessarily mean you get a franchise, one has to meet the strict standards that McDonald's require prior to ownership of a franchise (you have to demonstrate quality restaurant management skills and be able to prove that you can operate a restaurant prior to then letting you loose with their McDonald's brand on your own), but It appears from my research that the standards set by EXIT for a Broker Owner to acquire an EXIT Real Estate franchise brand is as simple as If you've got the money and you meet your States legal minimum requirements to operate a Real Estate brokerage firm then you can be an EXIT franchise owner (the reason for the fast growth of the franchise brand is because it's very easy to acquire). EXIT does not have an equal program to the McDonald's "Hamburger University" that would prepare the Broker Owners to actually be able to perform at a higher level than other similar firms so each EXIT office success or failure is based on the individual Broker Owner with very little input from EXIT corp, why?....Because EXIT REALTY CORP INTERNATIONAL is all about selling Franchises...not selling Real Estate. They do offer Exit RE education online, web support and regional seminars which appear to be good but also not significantly different from any other professional RE education programs out there because lets face it, the EXIT model is not really any different from any other RE firm (i.e. A RE FIRM GOAL: Have as many agents as possible to lists and sell as much real property as possible so the Broker Owner can get rich, not the individual agents) the EXIT RESIDUALS hook is just designed to recruit agents (not make agents rich) there is no HOOK for the consumer that is buying and listing property which is the goal of the firm (as well as no noticeable National Corp Brand advertising like with re/max or C21 to the actual consumer ether). My point is EXIT is what it is, just another Real Estate Brand in the sea of Real Estate Companies that are all fighting to survive on the backs of the individual agents. With the national average for Real Estate Commission (according to NAR) dropping year after year and the typical broker owner and real estate agent is faced with a lower overall average income year after year because of this trend, the hook of "Think Residuals" is just a tool for the Broker owner to use to recruit more sales agents and is only presented as supplemental income for the agent, not the primary source of income to help offset the reduction in commission trend for the agent, the model still requires agents to list and sell property. NOTE: The EXIT residual program flaw is that it is only as good as the local broker owner that is implementing the program for that agent, even though EXIT Realty Corp claims they are responsible for payment of residual funds to Exit agents, the residual funds first must be collected by Exit Realty Corp from the Individual local EXIT Broker owner where the sponsored agent is active, and if that office has a broker/management staff that has poor skills and even suffers from mismanagement of funds then residuals may not be sent to EXIT corp in a timely fashion, I've heard stories from EXIT agents of Residuals taking up to 1 year to be paid when Steve Morris states clearly in his presentations that the funds are paid by electronic transfer into a Exit SUCCESS Master Card, this may or may not be the case with your local EXIT owner. The bottom line is that I suggest that before you make a decision to join your local EXIT RE company, you should meet and greet your local EXIT franchise broker owner and judge for yourself the quality of that firm as there are several EXIT Broker Owners in many markets that are very reputable and experienced in their market and acquired the EXIT brand to help build their current strong market share and they pay the residuals earned timely as Steve Morris claims and their agents are earning a good living, others in some markets may be just mismanaged underfunded firms with poor marketing skills and are doomed to fail and their agents may be starving and also may never see a residual payment on time during the failure process, but ether way it's the individual Broker Owner that is ultimately responsible for the success or failure of any Real Estate firm, not necessarily the franchise brand.

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Post The real scam 
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!!

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threemmm (4 weeks ago) Show Hide Marked as spam
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Exit- what a complete scam. I worked there for a year, and recruited over 35 people. Most started recruiting and I earned 10% of ZILCH. Agents earn 64% commission. They're pompous, arrogant and pushy. I'm so RELIEVED that I EXITED EXIT
tennischumpion (3 weeks ago) Show Hide Marked as spam
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I hate those scammers. They target vulnerable people who are desparate for money and usually are laid off from work. They target newbies who just got their license because they can't get a job. Now they have to pay a few hundred to thousands of dollars. For a dream that is mathematically wrong.
Quixtarisascam (3 months ago) Show Hide Marked as spam
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Hell, let's say you go to the department store and find an item that cost $100 and they mark the item down by 30%. You figure the price at $70 ($100*30% = 70) is still a little too high and don't buy it. The next day you back to the store and it is marked down another 20%. Now the price is low enough to buy it. The price would be $56. (70*20%= 56) Using your logic 30% +20% = 50%.... Wrong. 50% of $100 is $50.
exoroy (3 months ago) Show Hide Marked as spam
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You don't understand the Exit Formula! Our great founder and the genius, the Bill Gates of Real Estate, Voted one of the most influential persons in real estate, the mighty Steve Morris told me so.
Quixtarisascam (3 months ago) Show Hide Marked as spam
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When percentage is used as a mathematical function that denotes a specific relationship between two numbers, the specific quantity associated with a percentage depends on its base value. Two percentages that are associated with different base values have different weights and thus cannot be directly combined.
Quixtarisascam (3 months ago) Show Hide Marked as spam
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When percentage is used as a mathematical function that denotes a specific relationship between two numbers, the specific quantity associated with a percentage depends on its base value. Two percentages that are associated with different base values have different weights and thus cannot be directly combined.
Quixtarisascam (3 months ago) Show Hide Marked as spam
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Due to whole number dominance, however, people may mistakenly apply a simple whole-number strategy and add up the individual percentages directly. This misuse of a whole-number strategy will lead to a systematic computational error in how people process sequential percentages.
exoroy (3 months ago) Show Hide Marked as spam
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Yes what you said is true. But Exit is different. Exit Realty is Real Estate Re-invented! This INCLUDES MATHEMATICS! Exit mathematics defies conventional summations. So said our lord and savior, Steve Morris.
Quixtarisascam (3 months ago) Show Hide Marked as spam
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Yes, it is different. It is the most heavily advertised business in the world!!! However, when I ask people if they have ever heard of this business they say no. Hmmmm...it sounds like their marketing campaign has a few flaws. Hell, with that kind of logic, I would have to argue that Dollar general store is more advertised than exit. We are not above our competition, we are in their wallet. LOL
exoroy (3 months ago) Show Hide Marked as spam
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The only thing MORE seen than Exit signs is the toilet. Everyone sees it every morning. So there is NO WAY you can beat Exit. Unless you are a toilet. Toilet is the only thing that beats Exit signs.

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