The telesales IMO can have a stronger agent conduct unsold follow-up on the leads that the weaker agent broomed and probably sell a reasonable percentage of those previously unsold leads. The broker IMO, on the other hand, is on the hook for leads in a particular geographic area. For example, I am on a decent sized DM order. If I suddenly report my debit card stolen and change my cell phone number and take a job selling cars or real estate time shares or burgers my IMO will be on the hook for any DM leads that have come in for which I have not been charged. Unless the IMO can recruit another agent near enough to service my area, those leads will age and depreciate.
Good point, if that's the biggest concern and the lower comp model is a big money maker for the imo, why not create a local agency?