+Leadership Program

This document provides a comprehensive overview of the Leadership Program within Business Broker +. The Leadership Program is designed to empower experienced brokers to guide and mentor new brokers, fostering growth, knowledge, and industry expertise.

Leadership Program Overview

The Leadership Program at Business Broker + is designed to support brokers who are new to the industry or working toward obtaining their real estate license. This program allows experienced brokers to take on leadership roles, guiding mentees through essential business brokering skills, such as listing appointments, business evaluations, negotiations, and prospecting.

Key Features of the Leadership Program:

• Mentorship Role: Mentors serve as team leads, providing personalized training and support to mentees as they navigate the complexities of business brokering.

• Licensing Support: In states where a real estate license is required, new brokers must participate as mentees until they obtain their license. Mentors assist mentees throughout the licensing process, ensuring they are fully prepared to succeed in their new roles.

• Revenue Sharing: Mentees are eligible to participate in the Broker+ revenue share plan, provided they sponsor brokers. Mentors benefit by receiving Broker+ Revenue from their mentees' transactions.

• Legacy+ Award Qualification: Mentors who guide mentees for at least six months will have their leadership efforts count toward their Legacy+ Award qualification. Additionally, if a mentor leads a mentee for the full cap period, the mentor is eligible for a $10,000 bonus from the broker’s $90,000 cap.

• Flexible Leadership: Mentors can take on up to three mentees simultaneously, with the opportunity to mentor more with approval from Business Broker +.

• Comprehensive Learning: Mentees gain valuable hands-on experience in prospecting, negotiations, and transaction management, setting them up for long-term success as brokers.

Leadership Program Rules

• Mentor Eligibility: The program is designed to help brokers who are new to the industry. It is not required unless the state mandates a real estate license. In such cases, all new brokers without a license must be a mentee until they have an active real estate license.

• State-Mandated Mentees: Mentees in states that mandate a real estate license for business brokers must have the license within 12 months of the start date. If the mentee fails to do so, they can remain in the role, but their status will be changed to salesperson.

• Broker+ for State-Mandated Mentees: Mentees in states that require a real estate license are allowed to take a position in the Broker+ program, enabling them to benefit from the revenue share plan, provided they sponsor brokers. If the mentee fails to complete the real estate licensing within 12 months, the mentee will forfeit their Broker+ downline revenue.

• Length of Leadership: Leadership must last a minimum of 6 months to qualify for the Legacy+ Leadership qualification and receive any benefits from the Leadership program.

• Mentor's Broker+ Revenue:

  • Mentors will receive Broker+ Revenue from the mentee within the 12-month period. If the mentee creates a downline in the Broker+ Program, the mentor will receive Broker+ Revenue just as if the mentee were a broker.

  • If the mentee fails to complete the real estate licensing within 12 months and is removed from Broker+, the mentor will still continue to receive Broker+ Revenue from the mentee's second line, if applicable.

• Legacy+ Benefits: If a broker mentors a mentee for the entire length of the cap period and the broker qualifies for Legacy+, the broker shall receive $10,000 of the broker's $90,000 cap. This can happen with each mentee that the broker decides to mentor.

• Mentee Restrictions: Mentees may reach out to business owners but are not allowed to be involved in transactions, discussions on listing agreements, or conversations involving price, fees, or compensation. Mentees may not be included in any contracts, and all contracts must be in the broker's name.

• Mentee Commission Cap: Mentees have the same $90,000 commission cap as brokers.

• Mentee and Legacy+: Mentees are not eligible for the Legacy+ Award while in the mentee role.

• Leadership Qualification for Legacy+: Mentors in states where a real estate license is required to become a broker will have their mentee count toward their leadership qualification for the Legacy+ Award.

• Mentees and Downlines: Mentees do not need to be in the mentor's downline to be mentored.

• Mentee Limit: Each broker may have up to 3 mentees at any given time unless approved by Business Broker + to have more.

FAQ - Frequently Asked Questions

1. What is the purpose of the Leadership Program?
The Leadership Program is designed to develop and support new brokers by pairing them with experienced mentors who provide guidance, training, and support in business brokering.

2. Who is required to participate in the Leadership Program?
In states where a real estate license is required, new brokers must participate in the Leadership Program until they obtain their license. In other states, participation is optional but encouraged for new brokers.

3. How long does the Leadership Program last?
The program requires a minimum of 6 months of mentorship for the mentor to qualify for Legacy+ and for the mentee to gain the necessary skills and experience.

4. What happens if a mentee does not obtain a real estate license within 12 months?
If a mentee fails to obtain their license within the 12-month period, their status will be changed to salesperson, and they will forfeit any Broker+ downline revenue opportunities.

5. Can a mentor take on more than one mentee?
Yes, each broker can mentor up to 3 mentees at any given time. Approval from Business Broker + is required to take on more mentees.

6. Do mentees have to be in the mentor’s downline to be mentored?
No, mentees do not need to be in the mentor’s downline to participate in the program. Mentors can guide mentees regardless of downline structure.

7. Can mentors earn additional benefits through the Leadership Program?
Yes, if a mentor successfully leads a mentee through the full cap period and qualifies for Legacy+, the mentor can earn a $10,000 bonus from their $90,000 cap for each mentee mentored.

8. Are mentees eligible for the Legacy+ Award while in the Leadership Program?
No, mentees are not eligible for the Legacy+ Award while participating in the Leadership Program.

9. What resources are available for mentors in the Leadership Program?
Mentors have access to training materials, tools, and support provided by Business Broker + to ensure they can effectively guide their mentees through the process.

10. Can mentors and mentees work together on client transactions?
Mentees can reach out to business owners, but they are not allowed to be involved in discussions related to transactions, listing agreements, or conversations involving price, fees, or compensation. All contracts must be in the broker's name.

+Leadership Program Agreement