How to select the right real estate brokerage? ok admitted it, after 5 years at eXp Realty. I do realize that eXp is not a good fit for everyone. And I do not say this just to recuit you or attract anyone. During my years here I see people come and go and just couldn’t help but see the similarity between them. So if you are picking real estate brokerage. read on to see if can already cross eXp Realty out of the list when choosing the right real estate brokerage to work for
1. You can’t handle Technology.
eXp Realty could be a lot of thing. It is first and foremost a real estate company. But it is also a technology company. eXp Realty acquired and own Virbela, an immersive Metaverse for remote work, learning, and virtual event. 80 hours of eXp live training are hosted on expcloud.com where agent can leverage technology to gain instant access to knowledge, support to run their business
eXp agent also operate on Workplace by Facebook. this is where most training will be archived and how real estate agent at eXp Realty connect and send each other referal.
eXp Realty also use a back end office call skyslope where your transaction will be check for compliance in world record time so real estate agent can get paid at the closing table.
On top of that, eXp agent also have access to Kvcore an expensive lead generation software and crm management at no cost.
If you don’t like technology eXp is not for you. the ICON agents is in the metaverse provided hundreds of training hours every month, but you have to login. If you never made an account on Workplace and interact with your fellow exp agents then that referal will not come. If you are use to your boutique brokerage closed their eye and let thing slip by whenever you turn in your paperwork then you are not going to like Skyslope. and KVcore might be overwhelming for new agents.
I do personally see agent struggle adapting to technology, get frustrated and quit. There will be no office to drive to but instead within a few clicks, you can get support immediately from your state broker. So be honest with yourself. Are you willing/ and able to leverage technology to grow your real estate business?
2. You don’t like to support other real estate agent.
Real Estate sale is a lonely business. you work for yourself, fence for yourself. After those fancy social media post is an emptiness behind. Luckily, thanks for eXp Revenue Share Model There will be always business partners who will look after you, cheers for you, supporting you. Being an introverted person. I thought I don’t need it, but I do. I like being a lone wolf go hunting by myself, but when i returned home, there will be always be a pack waiting for you.
There is a feeling of comradely across the entire company, does not mater who sponsor you into the company. You have to do your part as well, and that is to supporting your fellow eXp agent event your competition in the same market. I know some people just can’t get over the feeling of seeing other real estate agent as enemy or competition, if you can’t get over this then eXp Realty is not for you.
Just on the note above, I personal discriminate against laziness though..just me. Please don’t name me your sponsor if you know are lazy or are a drama queen! I don’t tolerate drama queen in my group. They will get kicked out!
3. You are looking for a bigger Friday paycheck.
if you are used with the split at other brokerage such as KW, or Remax then you actually save a lot of money here. our competitive 80/20 Split cap at $16,000 with only $85 per month fee is pretty much unmatched in the industry. On top of that, you will have a chance to earn $16,000 back via our eXp Realty ICON program. If you are coming from a high fee brokerage you can split this bullet point.
With that said, most flat fee agent get hung up on the fact that they have to pay eXp 16,000 if they can’t ICON. They feel defeated and left eXp Realty.
Let me say this, even if you can’t cap, or ICON. eXp already provided a tremendous amount of value for your business already. This is literally the only platform that allow you to have an exit strategy by doing the same thing you are doing, buy and sell real estate. I can guarantee you that if you and me sell the same number of houses, with the same number of price and commission, and we are not capping agent. You might get a bigger pay check than me on a Friday, but 5 years from now, I will be more wealthy that you are via our stock acquisition program and revenue share. It just how the math works.
4. You have Shiny Object Syndrome
This is the first, and the best model in real estate sale industry. Thats why Grant Cardone is with eXp Realty. Other company will have to copy this model or face extinction. If you keep thinking the grass is green on the other side then eXp Realty will not work for you. heck, no brokerage will work. Leadership can not be developed if you like to jump around and try different thing. I will quote Grant Cardone on this: “You rather commit to the wrong thing 100% then commit to the right thing half way” Study the model, Figure out if it is right for you, then go all in!
Conclusion: With the rising interest rate, the real estate game is now becoming the survival of the fittest. selecting the right leader, right sponsor, right brokerage will ensure that you have a successful real estate career. I hope that you can now choose a real estate brokerage to work for and best of luck to you and your family!
Still confused? let’s chat
In the Pictures:
Jenny and I flying to Orlando for the annual eXp Shareholder Summit 2022