Momentum’s Performance & Annual Report
Momentum’s Performance & Annual Report
2020 Annual Results - $201,996,018 in total sales / 742 families served / 76 agents added. (May-December 31st, 2020). Momentum launched January 2020.
2021 Annual Results - $565,510,950 in total sales / 1,752 families served / 61 added agents. Average Agent Commission $119,230 at Momentum.
Awarded Agent Advice 2022 Best Real Estate Brokerage in Florida.
Earned Top 10 Brokerage in Northeast Florida and the #1 Independent Brokerage by Volume and Units.
Momentum awards its top 5% of producers equity shares in Momentum Realty.
Top 10 Brokerage by volume and units in Gainesville, Florida.
Currently operating in Jacksonville, Gainesville, St. Augustine, Palm Coast, Fernandina Beach, Ocala, Daytona, Pensacola, Orlando, and Tampa.
Growth is primarily by word of mouth, no cold calls. Virtually run company.
Volume growth of 179.8% year-over-year.
Our commission splits remain hyper-competitive at a 100% fee model while more services are provided through The Focus Program, LoLo Enterprise, Mentorship Program, Success Pods, etc.
Momentum Message
To Florida Agents and Momentum Stakeholders,
Brittany Brooks, my wife and business partner, and I have the job of leading and supporting you in the real estate sales and investment businesses. We are honored by your trust.
Our policy is to share transparently the results of Momentum Realty with our agents and the market annually.
Momentum’s mission is to help create meaningful differences in our agents' lives from both a financial and lifestyle lens. We evaluate leadership’s success by our agent’s success within real estate sales and outside of sales by living out Momentum's core values: Passion, Purpose, Integrity, and Growth.
We have made many mistakes over the last two years that we have learned from. We have launched many programs that have had tremendous success, some that have been mediocre, and a handful that have failed. Our one advantage is that we have wonderful, top-producing agents who strongly believe in the company and our mission. Our agents have also experienced tremendous growth from an advisory-board type coaching and growth environment. An example includes agents commonly going from $6M to $14M and from $8M to $16M in production within a 12-month period.
As these agents grow in Momentum’s productivity environment, they have also understood that our experiments benefit them in the long-run. Thus they have stuck with us as we look to fulfill our mission in the market and further support them.
In 2022, we will continue to experiment and expand our agent services and investment opportunities all while maintaining a very attractive compensation model.
Surprise, Surprise - Market Predictions
2022 will be a very different year than 2021. Compared to 2021, which started off very strongly, 2022 has started off with mild weakness due to a severe lack of inventory, primarily from what we call the 3L’s - land, labor, and logistics. Rising interest rates, rising prices, and geopolitical tensions are creating fear in the marketplace that contrasts with the high demand for housing units.
Buyers are desperate with limited options and Sellers commonly feel they have nowhere to go if they were to sell. In 2021, it was like shooting fish in a barrel. In 2022 it will be all about shooting the right fish in the right barrel.
An agent’s success will be determined by their ability to figure out which consumers are truly motivated (ready, willing, and able) to transact and who is not.
My agent movement predictions are as follows:
Agents will begin turning off their expensive online lead purchases. Agents who are primarily buyer based will struggle in coming months. Just because you have a buyer does not mean you can get them under contract due to the high level of competition for housing units. In some price points, there are 30 offers per house.
Top agents on teams will begin leaving their transactional natured teams that are primarily buyer based via online leads. These agents will likely become solo agents at low-cost brokerages. They’ll close one home and net the same profit as it takes to close three on a team, and live a much better lifestyle, all while building a database for themselves instead of their team lead. These agents will have to re-learn how to generate business organically, yet have no other option because of the severe lack of inventory.
Agents will continue to move away from high fee big-box brokerages to independent brokerages just like we observed in 2021. As agents get squeezed on transactions, they’ll be evaluating whether or not their high brokerage fees are worth it. In 2021, the majority of agent movement came from big-box brokerages to lower fee independent brands.
The market winners are as follows:
Agents who practice the fundamentals of real estate. These fundamentals include providing great service, being hyper-responsive, and having a growth and learner mindset. In contrast, agents who did not put in the work, and just floated over the last five years by riding the real estate wave, will face a stark market in 2022 and reduce their production by up to 50% if they don’t change what they are doing and how they think.
Agents who develop deep, personal relationships with customers will beat out the transactional agents who just purchase online leads and close them to get their money back. These community-based agents will play the “ground game” by meeting folks in-person while the “air game” agents will work behind their computers waiting for the phone to ring from buyers. Agents who get out there in-person via open houses, door knocking, circle dialing, and community events will pick up listings and have more control of their businesses.
Low fee brokerages with thoughtful and valid leadership. This year will require a lead-from-the-front mentality with brokerage’s leadership fighting alongside their agents to win business. It is a changing market and leadership needs to be on top of what is going on and continually provide tactics to its partners to win deals.
Thank you for reading our 2022 predictions and trusting in the Momentum brand.
We are excited for a strong 2022 and to take on, together, the challenges and opportunities ahead.
To learn more about Momentum Realty, visit: movewithmomentum.com
