Technology: There isn't a broker in the real estate industry who is up on what technology will bring an agent business. End of story. Technology that brings the agent business is the only relevant technology to me. Connect is no different here. Their tech tools are awesome and they are a paperless company. That in and of itself is no big deal as I've been paperless for a few years now and actually only use my fax machine maybe once a year.
Simply having online tools or a website that keeps all of my records digital doesn't hold much value for me. That said, I think if I were to go back to a company that had a compensation plan like Connect, I'd go to Connect. (80-20 to cap at $25K then 95%) The value, for me, that I see Connect brings to the table is not any of the above but is the revenue sharing. Based on the numbers given to me, recruiting 40 agents into the company provides a very tidy sum on an annual basis and wipes out any concern about the split. As such, I can see Connect agents being more annoying, I mean that in a fun way, than KW agents were about recruiting.
I would never go back to KW. But I would consider Connect if I were to go back to a more "traditional" brokerage.
Just my .02 cents from an objective standpoint. ;-)
I guess you can't please everyone, life is full of glitches, too bad this guy didn't have the patience to see it through. New technology and training is being rolled out constantly for the Connect Agents, at no additional cost. As far as it being a Pyramid, it is my understanding that a Pyramid goes on and on and you have to buy something. When I went to work for the other large Texas based franchise they also charged a one time fee to get set up with their company, so this is not out of the ordinary. But then on top of that they charge you 6% on every deal until you cap then it rolls back in a year, they charge transaction fees, monthly fees, you pay extra for virtual tours, Realtor.com and usually have to pay a transaction coordinator.
This company is a tri-level revenue sharing model, I think the concept is fantastic, none of the fees the other guys charge like I just mentioned, except for a very low monthly fee ,you get Showcase listings with Realtor.com, Virtual tours, Fidelity point transaction management software, in addition to your website with IDX capabilities in 14 states, an email account with all the other agents addresses pre loaded into contacts, templates to help with Home Buyers, Home Sellers, and Sharing the Connect Model with other Agents.
Keep up the good work Randy I am all in with Connect so much so, I am now calling myself the "Connect Concierge" and spreading the good news, I will be at the DVD release event in Sacramento this Wed the 10th and the from June 1 to July 4th the set up fee is only $4.00. Awesome! Sincerely, MWalker (#2022)
As for your complaints about the technology, let me first say that we as a company are not perfect. We have rolled out some of the most aggressive bundled features in the market. We have not always hit the bullseye but we also listen to the field. The fact that you exchanged numerour emails with the company COO is proof of our willingness to listen to our agents.
You can disagree with anything and thank God we live in a country that allows that freedom, just keep the facts straight.
I am "Connected" and I am really loving the concept, not to mention all the technology tools, great commisson split, team support and building, and the fact that I am not paying a company a wide variety of fees, and left wondering if it is really worth it. If you would like more information on the business model I would love to share it with you, feel free to contact me. firstname.lastname@example.org.
I think some folks have a misconception of what this revolutionary new business model has to offer, I only know I don't plan on being out there showing property when I am in my 70's, this gave me an option on how I want to spend my golden years.
In regards to Bill's comment...you referred to Connect Realty as a ponzy scheme. In addition to the great resources that are available with Connect Realty, there is also possible team building. The only difference between our team building and most other brokerages is that the agents get to reap the rewards instead of only one, usually, unsupportive broker. Working with a team of agents that are rewarded for helping each other makes for a great community of agents, unlike working for a broker that does nothing and charges a lot of money for it.
Head over to http://www.connectrealty-nationwide.com ---
Meet me online everyday from 12 NOON - 1 PM and be sitting in front of a computer when you do Diego, as I would like to take you on a tour which will answer most any question you have ----
But don't take my word for it, I want to share testimonials of others who have made the decision to convert to this company. I'll give you names and contact info so you can see what they have to say since many of them have been with the company since its inception.
That's how I made my decision --- I heard about the company and cautiously research anything and everything about them, and have not looked back since.
I am a Connect Agent working in California. I'll be happy to give you any information you require. It is a cutting-edge technologically savvy company with 1400 agents in only 1 year. There is an investment of 200 million with the founders who have resumes that will stack up against any top financial entreprenurial gurus. If you want to get in on a ground-floor opportunity and receive a residual income that goes three layers deep, have no franchise fees, desk fees, minimum sales requirements and top commissions, call me for more info: Connie DaVersa 661-607-6965 Team Leader-Connect Realty California
I checked them out so thoroughly that I've recently "connected" with the Connect family and am excited to be providing cutting edge "Listing Getting" tools and training to their agents. The online short sale listing getting systems, expired-listing-getting systems and geographic farm tools we're rolling out are unlike anything any brokerage has offered their agents anywhere - period. Tools like the SLS Stealth short sale system that you can see for yourself online at The Listing Guru or Simple Listing Solutions.
I intend to see to it that any Connect agent with a burning desire to crank up their production has the tools and training they need to do so. In this new economy and new real estate industry the Connect Model seems superior to all others the more you look into it...
As for the business model - it's brilliant. Imagine being able to get the benefits and have the "fun" part of being a broker without most of the negatives a broker has to deal with; the liability and management responsibility. We get to do the fun part - recruit, train, support and cash the checks.
I just received an override check from an agent on my team that had made a sale in Texas. I'm in Washington. Now that is income diversity in brokerage. I never had that in the past. I like this business model a lot and want agents all over the country and am working diligently in Connect Realty to make that happen. That fellow in Texas, Lawrence Bland, has several more transactions in pipeline right now as I write this. Again, ticked with this outcome.
What's funny is I make recommendations all the time to the company - what I like is that they listen. What's great is that some of them have already been implemented (one within a day or so). Are all of the ideas implemented that agents send to them - of course not, the company is a national company and has to consider the impact on a national basis. I'm very pleased with how things are going with Connect Realty and expect to earn a lot from overrides in 2010 and 2011 as our business expands.
Thank you all for your answers. I want to remind everyone to make sure your answers are on topic and don't include any personal attacks. Sharing differing points of view and engaging in healthy debate is encouraged but insults are not.
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I was with Connect Realty.Com and found the company COO to be a liar. I had issues with the agents website and was told they would be corrected. They were never corrected and when I complain about the inferior website, I was let go and the COO (Randy Almaguer) refused to return my $200.00 dollars I paid to join Connect Realty.Com. I spoke to a REALTOR about Connect Realty and was told they were a Pyramid Scheme also known as Network Marketing or Multi Level Marketing. I am only giving my opinion, but when the COO isn't honest and doesn't have integrity with their agents, I wouldn't touch them with a 10 foot pole.
Commercial agents will like what's coming next month :)
Robert M. Burns