In 2008, Nick Libert knew moving to EXIT Realty had potential, but he couldn’t have predicted the impact residuals would have on his life and career as a Chicago-based real estate professional.
Nick was recently in Nashville for a Master Broker training and shared his fascinating story with EXIT Southeast saying it is not about pennies but tens of thousands of dollars. His residual checks are over six figures since 2013 - above and beyond his real estate sales – here’s how.
With 25 years in the real estate industry, Nick has experienced multiple brokerage models. After entering the business in 1998 as a new agent with a traditional, big box brand, he quickly realized much of the work of lead generation was on the agent and began questioning his split and fees. After three years as a top producer there, he decided to start his own small independent brokerage but that had its faults as well. Realizing he needed the systems, support and technology of a franchise, but looking for a residual component for himself and his small office, he accepted a buyout and management position from a profit share MLM style brokerage in 2005.
After 3 years of growing a branch of that MLM brand from 30 agents to over 140, and his own downline growing to 92 recruits, he was disappointed in the relatively small financial rewards from such extended effort. In the spring of 2008 (on his 30th birthday) Nick joined EXIT as an agent.
“I knew I wanted my agents to feel like they had a piece of the pie which we didn’t have with Keller Williams or with Coldwell Banker. Ironically, I blew off an appointment with an EXIT franchisee twice! Finally, he caught me on the phone and did the math with me on what I was missing out on. Had I originally gone with EXIT and with the amount of agents I had attracted to that MLM model, I would have made over $300,000 in residuals in the same period of time in which I had worked so hard to get pennies at that competitor. Once I did that math, I left and immediately joined EXIT,” Nick explained.
If you know your real estate history, or experienced it, 2008 was a very difficult time.
“Right as I joined EXIT the market began took a severe turn. It was a terrible time to be a Realtor and my shrinking commissions soon were not paying my bills. Thankfully, the EXIT formula saved me as I had sponsored a few agents in after I changed brokerages and got comfortable here. I literally paid most of my basic bills some months with residuals. But then, I started to use the EXIT training and technology to grow my business. I shared what I was doing with others, sponsoring more agents. I went from surviving on residual bonuses, to getting out of debt with them, to building my future. Now, I buy real estate with my residual bonuses and I’m saving for expansion and more income streams,” Nick reflected.
Nick experienced the power of the EXIT residual system first hand and knows the legacy portion of it is key too.
“Sadly, we had an agent pass away recently. His legacy benefits of 5% of his residuals will help his beneficiary and no other brokerage has this component,” he said.
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Nick says, if you’ve had experience with other brokerages, you know first-hand residuals are considered a bonus and you are at the mercy of the owner or hopefully ethical broker.
“There are always variables impacting this and most importantly with EXIT, there are no levels and deep downline impacting your earnings. You don’t have to depend on others to recruit. You either put in the work of sponsoring and mentoring or you don’t. It’s on you, the agent. This is such a better opportunity and more lucrative if you do the work,” he explains.
Click here as Nick explains the impact of EXIT residuals via his YouTube Channel.
Residuals saved his career, Nick says, when he was flipping houses in 2008.
“Residuals helped me understand the power of an additional stream of income. There are people building another life because of residuals and I would not be living the life I am today without it,” he said.
Planning for his future, Nick said during the pandemic, he started contemplating his future.
“I was one of the first in the company to experience the direct deposit system. I now put the residual earnings in a money market account for retirement where I can build and invest it.
The residuals potential is definitely what caught Nick’s eye with EXIT and made him understand the difference. Technology, training, culture and support were also important.
“First of all, we have stability in our leadership with the same people running the show today including Chairman Steve Morris and Co-Chair Tami Bonnell. No other real estate company can say this. When I went independent, I knew my agents needed more support, training and technology. The EXIT technology is simple to use and Annette Anthony (EXIT Realty Director of Corporate Engagement) does a great job or managing and explaining this,” he said.
Nick reflects fifteen years ago, neither he nor the owner of the EXIT franchise truly understood the opportunity EXIT offered.
“I’ve never made this much money with other brokerages. Every company has flaws but there is always opportunity with EXIT. There are only so many things you can do in a day. At EXIT, you don’t have to be the first one in. You get immediate gratification and long-term opportunity with very few variables,” he said. “The EXIT opportunity is the value beyond selling real estate and commissions. It empowers you and your family with a second stream of income to help you invest in real estate. Where else are you getting up to 10% in bonuses. You are more than just your last sale. It can mean so much to you and your family.”
Ultimately, Nick says sponsoring agents is an opportunity to support others.
“As agents, we should be mentoring, sharing what we know, helping and coaching others. Everyone can use that support. Be a resource. With the EXIT single-level system, you can create a big impact on someone you know.,” he said.
Connect with Nick today by texting LIBERT to 85377 or visit TeamLibert.com for more information.
Consistently earning #1 Franchise Sales in North America for the past eightyears in a row and honored repeatedly for #1 Region for EXIT Realty Corp. International,Regional Owners Kenny Lynn and Stacy Strobl also broke the all-time corporate record for sales in2019. The award-winning region was named a 2021 Nashville BusinessJournal Best in Business honoree with Stacy Strobl named 2022 Top Executive,Women of Influence for the Nashville Business Journal, and recently honored NBJTop 50 Fastest Growing Company. Across Florida, Georgia, Kentucky, Tennessee,and now Texas, EXIT Southeast owners, brokers and agents are respected leadersin the real estate industry. If you are looking to join an award-winning teamof professionals, contact EXIT Southeast Regional Owner Stacy Strobl atinfo@EXITSoutheast.com.