[mrmrg]

lol by broker fair someone was spewing stupid numbers at me (that all reps are pocketing 50-100k a month and they have been doing it for 6 months only) . i told him log into you phone and show me the depisots and ill close up my whole shop and move under you . he then said he doesnt believe me so i took out all the cash i had on me (about 600) and said lets make a 600 dollor bet, that your top rep that is standing next to you did not deposit over 25k last month . He then walked away from me

Way too many brokers talking big numbers but when it comes down to it.. Fake news.

You're only as good as your last funded deal.

[Zonefund]

My team does around 900k or so a week.

I know the avg broker funds 250 a month.

[ryan $]

Assuming Moneypenny’s OpEx is low (which based on a zero marketing model, I believe is a safe assumption), they could be pretty darn profitable.

Some quick napkin numbers while I wait for my oil change:

27 agents at average pay of $5,000 per month (a significant overestimate): $135,000
Phone, dialer, crm for 27: $4,050
Rent for 3,500 square feet assuming $3 per sq: $10,150
Admin and other operating expenses (overestimated): $25,000
Marketing: $5,000
Total estimated expenses: $179,200

Gross revenue assuming 8% average commission: 240,000
Net: $60,800

Just made that up real quick, but don’t knock his business model if you aren’t making at least $60,800 a month ;-)

Factor in lender bonuses and the fact that I overestimated many of his expenses, and he has a pretty nice business going on there.

240,000 Is the Total Commission but the Reps are Getting Rips on that. You Factored in 5k a Month, But the top preformers arent making 5k a month they are getting a percentage of that commission. 50% Usually Goes to the House. SO that is $120,000 Being Pocketed at the end of the day.

Nevermind he is Calling UCC's....8% Avg Commission is Prob Generous.

27 Employees, 135k Payroll? Geeze, Id hate to work for you. I cant live off $5,000 a Month, I dunno who can.

[ryan $]

Assuming Moneypenny’s OpEx is low (which based on a zero marketing model, I believe is a safe assumption), they could be pretty darn profitable.

Some quick napkin numbers while I wait for my oil change:

27 agents at average pay of $5,000 per month (a significant overestimate): $135,000
Phone, dialer, crm for 27: $4,050
Rent for 3,500 square feet assuming $3 per sq: $10,150
Admin and other operating expenses (overestimated): $25,000
Marketing: $5,000
Total estimated expenses: $179,200

Gross revenue assuming 8% average commission: 240,000
Net: $60,800

Just made that up real quick, but don’t knock his business model if you aren’t making at least $60,800 a month ;-)

Factor in lender bonuses and the fact that I overestimated many of his expenses, and he has a pretty nice business going on there.

240,000 Is the Total Commission but the Reps are Getting Rips on that. You Factored in 5k a Month, But the top preformers arent making 5k a month they are getting a percentage of that commission. 50% Usually Goes to the House. SO that is $120,000 Being Pocketed at the end of the day.....with 179k in Expenses???? I know that im skewing it the other way, But still.....

Nevermind he is Calling UCC's....8% Avg Commission is Prob Generous.

27 Employees, 135k Payroll? Geeze, Id hate to work for you. I cant live off $5,000 a Month, I dunno who can.

[Michael I]

since everyone is in a sharing mood . what will you say is your average cost per funded deal ?

[Zach]

240,000 Is the Total Commission but the Reps are Getting Rips on that. You Factored in 5k a Month, But the top preformers arent making 5k a month they are getting a percentage of that commission. 50% Usually Goes to the House. SO that is $120,000 Being Pocketed at the end of the day.....with 179k in Expenses???? I know that im skewing it the other way, But still.....

Nevermind he is Calling UCC's....8% Avg Commission is Prob Generous.

27 Employees, 135k Payroll? Geeze, Id hate to work for you. I cant live off $5,000 a Month, I dunno who can.

I’m not sure if my original post was clear enough, but those are just arbitrary numbers I threw together to explain that MoneyPenny’s model of 27 agents for 3MM funded isn’t as bad as some people are making it seem. I have no clue what they are actually paying their people or their exact expenses.

[Zonefund]

We have a team of 27 agents

LOL. I have 9 reps and were hitting 900k-1.2mill a week. Your sales manager must not be on point my man.

[Zonefund]

Assuming Moneypenny’s OpEx is low (which based on a zero marketing model, I believe is a safe assumption), they could be pretty darn profitable.

Some quick napkin numbers while I wait for my oil change:

27 agents at average pay of $5,000 per month (a significant overestimate): $135,000
Phone, dialer, crm for 27: $4,050
Rent for 3,500 square feet assuming $3 per sq: $10,150
Admin and other operating expenses (overestimated): $25,000
Marketing: $5,000
Total estimated expenses: $179,200

Gross revenue assuming 8% average commission: 240,000
Net: $60,800

Just made that up real quick, but don’t knock his business model if you aren’t making at least $60,800 a month ;-)

Factor in lender bonuses and the fact that I overestimated many of his expenses, and he has a pretty nice business going on there.

My marketing overhead is 60 grand - 80 grand a month. 5k a month is impossible to make money. Those are some garbage leads.