McColly Real Estate agents and clients alike recognize the company stands out from others. When it comes to being an agent with McColly Real Estate, the consideration for sales associates’ long-term futures makes all the difference. On January 31, checks were presented at McColly Real Estate’s Tenth Annual Performance Plus Breakfast at Innsbrook Country Club, and several agents shared their success stories with the crowd.
Created in 2002 with deferrals starting in 2003, Performance Plus is a tax-deferred program for Associates of McColly Real Estate who meet the terms and conditions of the program. The purpose of the Performance Plus program is to promote long-term relationships with associates by offering long-term incentives to those who are loyal, hardworking, and largely responsible for company growth.
“The Performance Plus program is unique to McColly Real Estate,” said Mary Beth Meyers, a broker with McColly’s Valparaiso office, who shared her testimonial during the event. “I don’t know of any other real estate company that offers a benefit like this to its broker associates.”
Performance Plus is the industry’s first program similar to a 401(k) plan and serves as one of the many benefits McColly offers that other companies do not.
“Saving for retirement can seem like a monumental proposition, especially when you are a real estate professional. However, it doesn’t have to be,” said Ron McColly, founder of McColly Real Estate and Performance Plus. “With a consistent, structured program over time, a considerable amount of wealth can be accumulated.”
McColly gave a detailed overview of the Performance Plus Deferred Compensation and Company Incentive Match Plan program and of Berkshire-Hathaway A and B stocks, which is where the money is invested. Berkshire-Hathaway co-founders are Warren Buffett and Charlie Munger. According to Buffett, the largest wealth builder for America’s taxpayers is deferred taxes.
“I’ve been in real estate for 15 years, and when Ron introduced this plan to me, he encouraged me to contribute the maximum amount toward it,” said Debra Depper, a broker with McColly’s Crown Point office. “It’s great seeing that investment continue to grow for retirement, and it’s a great tax incentive. This company is always thinking about our future, making sure that retirement is even sweeter.”
Bonus checks totaling $431,713 were distributed to those McColly Real Estate participants who qualified based on production in the calendar year 2013.
During her testimonial, Myra Harris, a broker at the Lowell office, credited the late Marie Fry, a manager for McColly Real Estate, with encouraging her to pursue a career with McColly and to join the Performance Program.
“Marie Fry was my managing broker, my financial advisor, and my friend,” Harris said. “I was very fortunate to have Marie lead me in big life decisions that helped to better shape my future, my family, and my grandchildren. Thanks to Ron McColly for the opportunity in sharing smart investments that pay.”
Wendy Embry, manager for the Schererville, Cedar Lake, and Lowell locations, delivered her own enthusiastic testimony.
“For me personally, participating and reaping the results [of Performance Plus] has provoked me to a heightened awareness of my family's financial future,” Embry said. “It has provided a platform for my family to invest in other avenues, too, that will assist us in our retirement years.”
Meyers described the program as a “no-brainer.”
“When we learned about the program, I think my husband and I actually looked at each other and said, ‘Duh!’” she joked. “Going into real estate, especially as independent agents, we all come from different backgrounds. Some of us have been teachers, some have been factory workers, some are stay-at-home moms. Having been in the business eight years myself, investing in Performance Plus at the age of 42, I can say I’m already blessed with the results. It’s a wonderful incentive.”
At McColly Real Estate, providing the highest amount security and support to associates is a priority. Visit their website to learn more.