Since I'm a co-owner of our Exit Realty franchise along with my husband, David, there's no question that I have to do a blog specifically about Exit Realty. First of all, just so you understand where I'm coming from, I would like to state our roles. David, as Broker, manages the franchise overall operations while I manage my own business as a Realtor, although I do help out with franchise issues as needed.

Most people may be surprised to learn that initially I voted "no" to purchase this franchise. We were a small independent brokerage and we finally came to the conclusion that we needed to hook up with a real estate franchise to make it in the real estate world. We needed the branding and recognition, the training, and even the policies and procedures that a national company can bring. We looked at lots of franchises. It was my husband, David, who brought Exit Realty to my attention. I told him "no way - that's a terrible name!" I don't want to be known as "Exit". Who are they, anyway? I've never heard of them." So, we continued looking at other franchises. Then, he brought me more information about Exit. I began looking at it and it looked interesting. The residual concept caught my eye. I researched it some more. "It's the fastest growing real estate company ever". Boy, did that catch my eye! We then interviewed with the Ohio Regional Owner and I was sold! This company is starting something new and refreshing - something different - something that is going to be big! Something that has become very big in other states. I want in on it! I even bought into the name "Exit" and it's still growing on me! After all, what is the #1 rule of marketing? A name that is not forgotten! I don't think anyone can forget the Exit name. Also, what other real estate company in the world can state that they advertise at all other real estate company conventions. Look around you - there are EXIT signs above every door! This was not the selling point, however.

The selling points were the residual system and how it works and the phenomenal training that Exit provides. The Exit business model is tops! The residual system is one level, not multi-level. You sponsor someone into the company and if they make a sale, you get 10% of the commission coming into the company. The selling agent (your sponsoree) gets 70%. We start at a 70/30 split up to $100,000, then the split is 90/10. I won't go into all the details in this blog but please don't hesitate to contact me with questions if you are interested in becoming a part of Exit Realty.

What I like the very best about Exit is the mentoring system. It's difficult to survive in any business without a mentor. David and I enjoy mentoring the agents at our office and encourage the agents to mentor others out there. We love to share ideas with everyone and learn new ways to improve ourselves and our business.

Think about it - if you sponsor someone into the company, you definitely have a vested interest for them to do well.

David and I attended the broker/owner training near Toronto Canada last year. Exit's corporate offices are in Canada. We were pleasantly surprised by the overwhelming constant philosophy of mentoring and helping others. "By helping others, you help yourself" I know I've heard this before but Exit takes it to a new level and there's no question, that in this company, it works! Our Chairman and Founder of Exit, Steve Morris, was there everyday with us during the training. It definitely made us feel we made the right decision. There's no question we made the right decision about Exit - I can't wait to see where we are five years down the road. Exit just entered the Ohio market mid 2006. If we do here what Exit has done in other states, Exit will be the #1 real estate company in Ohio. I'm looking forward to our future with Exit.

I also want to say it can be tough having a balanced life when you are a Realtor. We have six children - WOW! - who knew? Well, actually, we have one child together, Jaclyn, age 4, and I have another daughter, Elizabeth, age 14, and David has 4 other children, all over the age of 20. David and I were married just five years ago and now have quite a large extended family. We work hard, try to have some relaxation time, and have a normal family life too. It is definitely a balancing act. I've heard some Realtors say that real estate and family life do not mix together well. I can understand that thought because it does take a lot of time and effort to make a real estate career work. I love working in real estate and I love my family so it really does not seem so bad. I believe if you love what you are doing whether it is work or family or a hobby, you will do well.

My words of advice today are "Think Positive Thoughts". If you feel good about yourself and what you do, you are on the right track. It's amazing how much we actually create our own destiny with our thoughts. "Positive thoughts take me places were I only imagined I could go". Whew! - okay - some of you may be saying to yourself that I'm really going off the deep end now! Well, it's all about affirmations! You think about where you want to be, you then think about it in terms that you are already there, and "presto" , you're there! It may not be as quick as the sentence but the basic idea is that if you visualize yourself succeeding, you will follow the path to get you there. I'm a firm believer of this because it has worked for me and continues to work for me. You could say that I'm a dreamer. I do often daydream but my dreams have taken me places. When I daydream or visualize, I come up with ideas on how to get to where I need to go.

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Tax proration can be confusing especially in Greene County and Montgomery County, Ohio where most of my real estate listings are located. The Montgomery County method is short while the Greene County method is long and they are counties right next to each other! It can be difficult to explain different tax proration methods to clients. Hopefully, most real estate agents don't live in an area where 2 different methods are used. But if you are like me and list and close deals in both Greene and Montgomery Counties, it's important to understand both short and long proration as fully as possible.

In both counties, taxes are billed six months in arrears. which usually means at a closing, the purchasers will be paying a pro-rated share of taxes for a time period that they did not live on the property.

When the purchasers receive the first tax bill in their new residence, they discover it is for a time period way before they purchased the property and they sometimes feel something was mishandled with the tax proration at closing.

At a closing, the purchasers receive a pro-rated share of taxes from the seller. For example, if a closing is at the end of March, the sellers, under the terms of the standard Purchase Agreement, and using the Montgomery County method of proration (short proration), will owe to the purchasers taxes for 90 days (counting January 1 through March 31). This amount will be credited to the purchasers at closing. Then, when they receive a tax bill in June, they will pay the full amount of that bill. The purchasers will be paying the balance of the six-month period but, keep in mind, this June bill relates to the previous July through December as far as the county is concerned.

Other Ohio counties usually do not use the Montgomery County method (short proration) but have the taxes prorated beyond the next bill due (long proration). Traditionally in Greene County, the agreement reached between buyers and sellers is to have the sellers pay taxes for the actual days they owned the property. This is accomplished by having the sellers pay the entire "next" bill after closing and then prorating the bill becoming due six months after that. Using the previous example of a March 31 closing, the sellers would pay the June bill in its entirety and then the December bill would be prorated between sellers and buyers, with the sellers paying approximately 90 days and buyers the remaining 90 days of the six-month period. With the long proration, the sellers are actually paying taxes before they are due. This may be because the buyers are not comfortable with taxes in arrears. Of course, taxes are negotiable and it is important that the closing is consistent with the terms of the purchase agreement so whatever method is agreed upon at the point of a formally accepted offer is what will be performed at closing.

To summarize, there are two common ways of pro-rating taxes - the short proration (Montgomery County method) and the long proration.

Short Proration: Pro-rating the "next" bill will fulfill all requirements of having taxes current, but it relates to six months in arrears.

Long Proration: Pro-rating to actual day of ownership, taxes collected in advance of the bill due. The seller pays the next bill due after closing and pro-rated share of the bill after that.

Keep in mind that if you purchase and sell using the same method, long or short, you will be paying taxes exactly for the number of days you owned the property. The difference is that in the short proration, the number of days does not correspond to the actual days (it's shifted six months in arrears). In the long proration, it corresponds to the actual days you owned the property. No matter which method is used, it is important that there is a mutual agreement and understanding between the parties regarding the method of tax proration.

Like I said, tax proration can be confusing, especially in Greene & Montgomery Counties Ohio.

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This is my first blog ... ever. I've known about blogs for the past couple years but was either hesitant, didn't know what to write about, or just didn't feel like I needed to blog.

Most of this still remains somewhat true but I have become intrigued so am trying it out. I guess you could call this my test blog. I'm sure I'll get better over time - practice makes perfect.

I'm still really not sure I have time to blog - I'm a full time Realtor and my business increases every day which is what it is supposed to do. In reaction to this, I'm supposed to find ways to manage my time better and/or delegate more. Easier said than done when you have 6 people calling you for appointments the same day. I'm not complaining - I love it! I'm just not as good as I should be at managing my time - I wish I could get more done in a day.

Oops - got to go! I have a deadline to meet! Hopefully my next blog will be a little longer and a bit more enlightening.

 
 
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Robin Cooper

Beavercreek, OH

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Exit Realty Central

Address: 440 W. Main Street, Fairborn, OH, 45324

Office Phone: (937) 873-9466

Cell Phone: (937) 760-9477

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