If you are a realtor or are considering going into real estate, one of the most important decisions that you'll make is which brokerage you're going to join. When I started out, I was with Keller Williams. While there were a lot of things I liked about KW, it ultimately wasn't the right fit for me (I share why in this video), so I left to join eXP and never looked back.
If you're interested in learning more, I've already shared some videos on how joining eXp has tripled my income, as well as reasons why eXp isn't the right fit for everybody.
Today, I am continuing my video series with eXp eXplained - where I answer all of the questions I hear from agents all the time about eXp Realty.
So, you can watch the video or scroll down for the transcript. Let's get started!
1. Who founded eXp?
Glenn Sanford saw that there was an opportunity int he real estate market to create something amazing and had never been done before, so realtors could retire well and have a life outside of real estate.
For many realtors, the life is a constant grind, a nonstop hustle, with no light at the end of the tunnel. Glenn wanted to implement a better way and eXp was born.
He genuinely cares about the real testate agent and the real testate broker and created eXp to do real estate better.
Before starting eXP, Glenn had important roles at several internet startups before going into real estate in 2002. In his 4th year as a realtor, he closed more than $60 MILLION in real estate by connecting with consumers online. This experience taught him that because realtors are doing the heavy lifting, they deserve the benefits of being a shareholder and have their income based on the level of their contribution.
In 2009, Glenn founded the first cloud-based brokerage - eXp Realty.
2. eXp is experiencing massive growth:
Glenn created the magic formula and it's working, because eXp is experiencing massive growth. In fact, eXp is now the fastest growing real estate company in the world. They currently exceed 50,000 agents and are in multiple countries around the world.
There's a reason so many agents are moving to eXp and that is because it's fiscally irresponsible to be anywhere else if you're producing as a realtor today.
3. Why is eXp growing so quickly?
It's simple: eXp is growing so quickly because what they are doing works. Think about Blockbuster and how popular they were until Netflix, a cloud-based company, put them out of business. Same thing happened with hotels and Airbnb.
Cloud-based companies are pushing brick and mortars out of business and eXp harnesses that success in their cloud-based business model. We are the future of real estate.
4. Is eXp a franchise?
No! eXp is not a franchise, it is one brokerage, yet all agents get to enjoy the benefits of being cloud-based, including:
No desk fees
Work from anywhere
Can have business all over the world
Live training - the best in the industry
Real-time support
International collaboration
Huge equity opportunities
eXp is changing the real estate landscape, compared to other brokerages that offer expensive overhead fees, a smaller referral network, inconsistent growth incentives, and limited technology and support. It's easy to see why so many agents are leaving their brokerages to join eXp.
5. What is a cloud-based company?
The eXp cloud campus environment has tons of benefits. There are no desk fees, you can work from anywhere, no expensive leases, instant access to everything online and paperless transactions.
With eXp you can cut your brick-and-mortar costs significantly and even work from home. eXp gives you, the agent, the freedom to create the business and lifestyle that you want.
6. What are the live trainings like?
When I was at Keller Williams, the trainings were great, but there was some limitations due to location. At eXp, you can take classes all day, every day, because it's all cloud-based. This is some of the most robust training I've ever seen. It's incredible and you can really learn from the best and use that knowledge to build your business rapidly.
7. What countries is eXp in?
Currently, eXp has brokerage operations in Canada, UK, Australia, South Africa, India, Mexico, Portugal, France, Puerto Rico, Brazil, Italy, Hong Kong and Colombia.
And, eXp continues to grow globally. You can have your own team in any of these countries. The growth opportunities is unlimited.
8. What are the eXp equity opportunities?
They use a sustainable equity plan and agents are able to become shareholders. After you close your first deal, you receive your first shares. You earn more shares when you fully cap. You earn shares when an agent you sponsor closes their first deal.
I've been with eXp for a year and I already have over $100,000 in stock. If you win the ICON agent award, you receive up to $16,000 in stock as well.
If you enroll in the agent equity plan, you can be paid 5% of every transaction commission and buy stock at a 10% discount.
I am investing every single month in something I believe is a fantastic retirement plan.
9. What is the revenue share plan?
There's a rumor that eXp is a MLM, but while you'll make money like one - it is not an MLM. At Keller Williams, I received 0 dollars when I referred an agent. At eXp, if you recruit someone, you'll make money. Plus, anyone that your referrals bring in will also equal more money for you.
You are paid for doing the work to help other agents come over to eXp - as you should be!
So, all eXp agents earn based on adjusted gross commission income (AGCI*) from the sales transactions closed by a personally sponsored capping agent and productive agents in their overall group.
*AGCI is dynamically calculated every month so eXp pays out and retains 50% of company dollar.
Watch the video to see more details about exactly how much money you can make from the tiered system according to their 50/50 charter.
10. Can you really make money on the revenue share program at eXp Realty?
I get it, it's hard to believe that a company would share 50% of the profits. But, it's real and I am living proof of it.
I break down for you my own earnings in the video and I'm going to share them here, too. For context, I started with eXp in April 2020. After I felt that I really understood eXp and how to be successful with them, I started recruiting that November. My June payout in 2021 was $4926.89. I've only been recruiting for 7 months and I'm already earning almost $5000 in recurring income every month. Amazing!
Want to learn more about how recruiting other agents works? Watch the full video to see a great explanation of the 50/10/10 plan and how you can build your revenue share with eXp.
11. Is it too late for me to join eXp?
No! We are only 6% into our growth plan - 94% is yet to come! Our goal is a million agents globally. Now is the time to make the switch and start building your business and retirement plan at eXp!
These numbers are entirely possible. Right now is the right time.
12. What is eXp World?
This is the coolest tool I have ever seen in real estate. Everything happens in the cloud. It's an avatar world and it's like talking through a computer. It's the real estate office of the future.
People said nobody would use Uber. Netflix would never replace Blockbuster. This is the office of the future and once you get in and start using it, you'll love it.
The information and access to folks that you have is insane and off the charts. You have access to the brokers room where you can talk to agents all over the world in seconds. Maybe you have a client in Georgia and you have some questions, you can be talking to a broker in Georgia in minutes. You can be collaborating with brokers all over in seconds.
Jump in a meeting or learn on the go from anywhere with eXp World.
13. What are the eXp health care options?
According to NAR, 28-33% of realtors are uninsured in any given year. This is not how it should be, folks!
eXp offers excellent healthcare, all types of options and plans for different needs, it's extremely affordable and amazing. Previously, I paid thousands a month for healthcare. When I switched, my costs went down to about $700 a month and our coverage is better.
You can save a ton of money and receive better coverage and care with eXp.
14. Does eXp offer solutions?
We have the best tools in the business and you get access for a low fee of $85 every month. Here are just some of the tools you'll be able to use:
eXp Enterprise - business intelligence
SkySlope - transaction management
Workplace by Facebook - private community
CRM & Lead Generation
Branding & Marketing
Prior to eXp, I was spending hundreds a month just for my CRM software.
15. What kind of support does eXp offer?
The support at eXp is incredible. When you join a team, every person on that team has a vested interest in your success - because they get to share in it, too! This creates powerful teams that support each other.
Are you looking for a team to join at eXp? We would love to talk with you. Our team has some serious power players who are world famous agents. One of our team members was the number one Keller Williams agent 7 times!
Here's a snapshot from the video of the different members on our team. If these people can't help you grow your business - who can?!
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Are you ready? Are you excited? Do not wait - the time is now. Join our team today!
Get in touch with us by phone: 916.524.9733 or email Russell@EnyartHomes.com.
You will never regret it.