Retire with Royalty- A huge opportunity many agents miss
In a blog posted yesterday by Paul Henderson titled Have you or would you buy someone else's real estate practice? he mentions how he took over another agents business when it came time for that agent to retire, as I commented I felt it required its own blog post.
Because of the extremely high turnover in real estate and the fact that there is not a retirement or exit strategy in place, 
founder Carolyn Kindley-Single, a former multiple Remax franchise owner, created a new real estate company, My Green Parachute, a Limited function referral only company that allows agents a way to park their license and refer any business to an active agent of their choice. All the while keeping their database protected so they can get active again and not lose their clientele if they choose to do so.
Many agents are leaving the business, in fact in Colorado there are currently 38,000 licenses and 11,163 of those are placed on the inactive list, that is more than 25% of all agents claiming to be inactive, my guess is at least another 10,000 are doing nothing with their license and of the remaining 17, 000 only a handful were completing 12 or more transactions per year. Many agents know this but what they do not know is what a rich source of new business this can be.
Here is how-
- We have found that the average agent leaving the business will still refer 2 people per year to an active agent without even thinking about getting a referral fee
- However when an becomes what we call a professional referral agent they average 8 referrals per year
- We train everyone on how to best use our program
- What if you knew just 5 people that were leaving or had left and you were able to get their business
- You would never have to prospect again
- You would get reliable referrals, not just leads because these referring partners would want to send you clients that will get closed
- These referring partners can now focus on what they were really meant to be, a teacher, a police officer, a professional etc and can earn a very nice part time income to supplement their career, in fact we have people getting licenses strictly to become referral partners.
- As of April 15th we had representation from 648 different brokerages across the country
- We offer an optional marketing program called eschmooze, that all agents can use regardless of whether or not they refer any business (this program is much less expensive than many that most agents are already using)
- The corporate owned offices of one of the largest real estate companies in the world, decided to replace their existing program with ours.
- If you have worked hard in this industry you should be rewarded for that work, don't just turn your license in, look into Retiring with Royalty
If you would like more information or know someone that may be leaving the business, visit www.mygreenparachute.net to find out more
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