Am I Getting Screwed on This Monumental Contract? Please Advise.

[Todd King]

Unlike most companies, Monumental doesn't set a "street level". They leave that up to the IMO's. So, one IMO will say it's 110% and another will say it's 115%.

Before they raised their commission levels at the end of April, I was truely convinced that street level was 105%. When they raised commissions by 5% across the board, I naturally thought 110% was street. When I seen it posted on here in another thread that street was 115%, I called Monumental to get clarification. That's when they told me they don't have a "street level".

 

[Newby]

Unlike most companies, Monumental doesn't set a "street level". They leave that up to the IMO's. So, one IMO will say it's 110% and another will say it's 115%.

Before they raised their commission levels at the end of April, I was truely convinced that street level was 105%. When they raised commissions by 5% across the board, I naturally thought 110% was street. When I seen it posted on here in another thread that street was 115%, I called Monumental to get clarification. That's when they told me they don't have a "street level".

I agree but if you notice the pattern of the FE companies that are raising their commissions on first year and chopping the renewals, 115% is becoming the street for pretty much all of them (except Oxford which street is 120%.)

The old 105% contract was ACTUALLY a higher contract than the new 115% (over 10-years) but agents are apparently attracted more to first year than renewals so one by one the companies are successfully giving agents a CUT in commissions and make it appear like they gave them a raise.

It's a crazy world we live in but that's the way it's going.

 

[Todd King]

I'm with you on that! It does seem that the 115% is becoming the norm now.