Upon joining the Executive Launch program, I was promised everything under the sun. I was told that they would supply my real estate leads, they would show me the rules/procedures of being a successful agent, and would guide me through my deals. I thought it sounded great so I signed up. I met with the HR rep who had my paperwork all printed up and I would just sign and enter. They told me I would pay $700 up front and the rest of the details were skimmed over.
When it came to the part of the contract about leaving Realty Executives, they said I would need to complete 6 deals with them before I could leave. If I were to leave, they would charge me a $2,000 contract break fee, but the lady says if I really wanted to leave, they would waive that because they don't want someone to be miserable (The verbage in the contract was pretty much CYA stuff). So, regardless, I signed up.
I started the program and upon completing, I told the instructors that they did not cover the materials that I had been promised to be covered. They told me that they did not cover the materials I was promised in the class (the a-z of transactions, other legal issues). I went out and found my own deals and between my first 2 deals I paid $14,000 in commission to Executive Launch (because they take a portion of your commission). During this time they also charge you a monthly fee of nearly $500 per month.
When things started to slow down I asked for leads and that was yet another promise that was not delivered. When I was fed up with the lies and not getting any help when I would call (my messages were never returned, and my emails would go days without a response), I decided I wanted to switch companies (in case Realty Executives hasn't noticed, they charge enormous fee's and agents are leaving left and right). When I switched brokerages, they sent me a bill for $2,000 to break the contract.
If you are thinking of joining Executive Launch - DON'T... It is a ripoff. You will NEVER make any money because you pay it all to them. Given the bad real estate market, you would think that they would change their fee's to help the agents, but they wont. Realty Executives doesn't care about it's agents! Over the course of the program, you will pay 25,000 dollars before you are out of the program. Join a firm that offers free training.
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