A financial wellness program introduced by United Real Estate is delivering significant results for its agents, helping them eliminate millions in debt and build substantial savings. Since its launch in April 2024, participants have collectively saved $3.2 million and paid off $2 million in debt.
The initiative, centered around Dave Ramsey’s SmartDollar platform, aims to provide independent contractors with tools typically reserved for traditional employees, addressing a critical gap in the real estate industry.
Key Takeaways
- United Real Estate agents have achieved a $5.2 million financial turnaround since April 2024.
- The program has helped agents save $3.2 million and eliminate $2 million in debt.
- The initiative is designed to support the unique financial needs of independent contractors.
- The company's goal is to foster generational wealth for its network of over 22,000 agents.
A New Approach to Agent Support
United Real Estate, a national brokerage operating in 35 states, has reported impressive outcomes from its comprehensive Financial Wellness Program. The program was designed to offer its network of independent agents robust financial planning resources.
The core of the initiative is the SmartDollar platform, which provides education on essential financial literacy skills. It guides users through budgeting, debt reduction, and long-term investment planning for retirement.
Company leadership emphasized that the program is more than just another business tool. Phillip Cantrell, an executive vice president at United, described the motivation behind the program as a long-term investment in their agents' futures.
"Our goal is to permanently impact the generational wealth of our people," Cantrell stated. "Instead of focusing on how much we can siphon from each agent, our focus is on how much we can add to each agent’s life, over the long term. It is the proverbial story: give a person a fish and they eat for a day. Teach a person how to fish—and their life is changed forever. That is our intent, and we are succeeding."
Addressing the Needs of Independent Contractors
Real estate agents often operate as independent contractors, meaning they lack access to employer-sponsored benefits like healthcare and retirement plans. United's program was specifically created to fill this void.
Beyond the SmartDollar platform, the initiative includes several other components tailored for entrepreneurs:
- Healthcare plans designed for independent workers
- Retirement and wealth management services
- Estate and trust planning guidance
- Tax preparation assistance
- Access to various investment vehicles
This holistic approach aims to provide a support structure that empowers agents to manage both their business and personal finances effectively.
By the Numbers
United Real Estate operates with over 22,000 agents across 170 offices. In 2024, the company facilitated more than 73,000 transactions, resulting in $26.3 billion in sales volume.
Building Wealth Beyond Commissions
The program's success is being measured not just in participation rates, but in tangible financial outcomes. The combination of $3.2 million in new savings and $2 million in debt reduction in just a few months highlights a significant impact on agents' financial health.
Steve Wagner, another executive vice president at United, noted the profound effect the program is having on participants.
"It’s been profoundly inspiring to witness the transformative impact that our financial wellness initiatives... are having on our agents," Wagner said. "Through this powerful partnership, we’re not just supporting financial stability, we’re providing pathways to generational wealth-building and new opportunities they may never have had otherwise."
The Challenge for Gig Workers
Independent contractors and other "gig economy" workers often face unique financial challenges. Irregular income streams, self-employment taxes, and the absence of employer-sponsored retirement plans like a 401(k) can make long-term financial planning difficult. Programs that offer structured guidance on budgeting, saving, and investing are becoming increasingly important for this segment of the workforce.
A Necessary Tool for Entrepreneurs
For many agents, who are essentially small business owners, managing cash flow, estimated taxes, and personal expenses can be overwhelming. The structure provided by a program like SmartDollar is seen as a crucial asset for maintaining financial stability and growth.
Eric Pearson, an executive vice president with a United company, called the tool a necessity for entrepreneurs in today's environment.
"Any business owner or independent contractor is going to need to properly budget to have a successful P&L. Add estimated taxes, personal expenses, etc., and it becomes nearly impossible not to have a tool like SmartDollar," Pearson explained. "Having that option available for our agents has been huge, and more importantly, it is extremely rewarding to see the positive results they are having after adopting the program."
By investing in its agents' personal financial success, United Real Estate is betting that a more financially secure agent base will lead to a stronger, more stable business for everyone involved.
