Momentum Realty to Award Equity Shares to its Top Agents
Momentum Realty announced today that its agents who place in the top 5% of producers in their markets will soon receive $5,000 worth of phantom stock units in the brand.
In most markets, a top 5% agent produces a sales volume of $8,000,000 or more. According to MarketView Broker, within the Northeast Florida Association of Realtors, there are approximately 620 agents who produce at that level.
For 2022, Momentum had 23 agents who succeeded in breaking into the top 5%, earning them the moniker “Momentum Champions.”
The equity sharing that their achievement earned them is expected to be implemented in coming weeks.
"When starting Momentum, we promised ourselves that we would be different from other brokerages,” said Momentum Co-Founder, Jon Brooks. “Setting high standards for joining Momentum established a floor for our agents, but we didn't want to put a ceiling on their ability to grow and contribute to the brand, and to be compensated for that contribution. People get into real estate sales because of its unlimited upside, and this opportunity furthers that goal.”
"We are hyper focused on helping our agents not only produce sales and income, but also systematize their businesses and grow their long-term net worth, all while maintaining the highest quality customer service and a healthy lifestyle,” Jon added. “Rewarding top performers with additional financial opportunities tied to their high-level performance at Momentum, is just one step toward that promise. It is our company living out its purpose."
Co-Founder and Broker-in-Charge, Brittany Brooks, noted that vanity awards for top producers, which are the staple at most brokerages, including the one she previously worked with, are not enough. "We want to change the way top producers are recognized and incentivized. Offering them additional income and equity opportunities, and not just trophies, is in line with Momentum’s philosophy. We respect the hard work our agents put in; they are the foundation of our success. They deserve more than a medal. They deserve a chance to share and profit from the company's continued growth."
Co-Founding Agent Michelle Weaver, a Momentum Champion, noted that equity opportunities like Momentum’s are rarely offered by successful companies that are already experiencing rapid growth. Momentum is one of the area’s fastest growing brokerages, with its agents’ sales growing from $200M in 2020, to $550M in 2021, and to $615M in 2022.
"I suspect that any top agent who sees Momentum’s additional opportunity for financial success will re-evaluate whether their current company is financially aligned with them long-term," Michelle said. "There are a lot of options in the marketplace, and Momentum has become even more attractive for growth-minded agents with high levels of production."
Momentum's Co-Founders said they expect to continue to award additional phantom stock units to the brokerage’s top 5% producers. “That means even more upside potential for top producers who stay with the company long-term,” Jon pointed out.
Momentum Champion, Corey Miller, looks forward to the opportunity. “It's inspiring to have Momentum's leadership generously share in the growth of the company with its agents, not only from its revenue share and mentorship programs that reward its agents for bringing in additional talent to Momentum, but also through this new Champions opportunity.”
Brittany said Momentum’s top producers deserve this type of opportunity. "We are proud of our top performers, many of whom joined Momentum at $3-4M in sales volume and quickly jumped past $8M within a year. We've even had some agents go from $4M to $20M sales volume in this timeframe, which is incredible to see.”
Momentum Champions have even more to look forward to as the new year progresses, Brittany added. “We are working behind the scenes on even more projects for our Champions to participate in this year, and can't wait to roll them out. Be on the lookout for an exciting 2023!"
