20-year real estate veteran Mike Oddo, the founder of the 2012 launch Market Maker, the first company to provide pre-positioned appointments for agents, struck gold with Pay Per Closing ten years later. Market Maker is still active and remains a leading done for you technology platform for agents in North America. However, with a rise in inflation, gas prices soaring high, many agents who once could afford a monthly retainer now have to think twice. “Frustrating,” says agents on sales calls with Oddo’s department, inquiring about the monthly advertising service. And rightly so as many of these agents, Oddo says, are talented, with fantastic sales ability and excellent customer service, but lacking leads.
Picking up on this trend Oddo and his team game plan a solution. One that would allow these affected agents to receive the leads they need to showcase their ability, outearn inflation and gas, creating a positive impact from Oddo and further profits for his company to continue innovating and taking care of his people.
Soon came the idea of a referral fee service. Oddo could take over the lead generation in this service, get more involved in the agent’s business, and provide scripts and game plans to ensure that deals get closed and receive a 25% commission from the leads. In Columbus, Oddo’s hit success client Ryan Ruehle invested $20,000 with Market Maker, Oddo’s monthly retainer service and closed 33 deals totalling $200,000 in Gross Commission Income. Had Ryan gone the referral fee route, he may have earned more as Oddo would have been more involved. Still, Mike would have made $50,000 from Ryan alone, $30,000 more than through Market Maker, and had Ryan not been able to pay the monthly costs; this would have been a no-brainer as he would have made $150,000 from that annual year alone.
Feeling on to something, the American entrepreneur, broker and investor gave his team the go-ahead to run a trial. The trial must have been a success, and the upfront risk Oddo will be taking must be minimized, given he’s begun taking on 100 agents per month with sights set on 500 per month soon.
If leads are your issue, inflation is your enemy, and success is your mission, perhaps Pay Per Closing is worth investigating:
