Why consider making a move when everything is going well?
Something that you may not know – I was the Broker-Owner/Broker of Record, of an Independent brokerage just north of Toronto with 2 Office locations. Our results were so successful that we won Best Real Estate Office every year we were in Business.
So, what changed?
Why make a move when everything is going well?
First and foremost, the risks are high, the overhead is huge and the perceived benefits of higher revenues and independence don’t always pan out as planned. If you have an independent brokerage, a franchise owner or you are managing a brokerage, and are looking for your next move, or maybe you are contemplating opening your own brokerage, read these top 12 reasons hundreds of independent broker-owners have decided to join forces with eXp Realty.
1. No CostlyOverhead
You can say goodbye to paying rent, insurance, utilities, staff salaries, computer equipment and servers, software and other costly overhead expenses. There is no brick-and-mortar office UNLESS you want one.
At eXp, all you need is a mobile phone, laptop and an internet connection and you are tapped into a virtual office that will give you all the infrastructure and support you need to conduct your business.
If you choose to have an office and don’t want the huge overhead, has partnership with Regus where eXp agents get free access to their 1,200 business lounges across the US and Canada.
2. No Brokerage Risk or Liability
Managing the risk for a group of agents can be stressful and time-consuming. Being a broker carries a great deal of responsibility and liability, and brokers often find themselves sitting through arbitrations and mediations in addition to the many hours of phone calls, text messages and meetings whenever a concern arises. eXp Realty has an experienced team of seasoned brokers who handle all of these things for our agents. When you bring your agents to eXp, we handle all of this for you!
3. Branding & Naming Freedom
Want to keep your Branding, name, and identity? Keep your name. Yes – that’s right! eXp agents in the U.S. and Canada can co-brand their names with eXp’s, as long as branding guidelines are followed. Example: Main Street Real Estate Group, brokered by eXp Realty.
4. Collaborative Virtual Platform
eXp is known for its innovation, which means you and your agents have access to eXp’s cloud-based platform, called eXp World and its collaborative communications tool, Workplace. Connect with your fellow agents and eXp’s support teams. This is where eXp’s entire team of agents and staff communicate all day long to share tips and tricks and even referrals. It’s easy, super collaborative and it makes communication easy and fun.
5. Back Office Tools
No need for complicated and costly backend systems. At eXp, agents pay a low-cost monthly technology fee of $85 and get access to a full suite of back-office software and systems including paperless file sharing and transaction management, web design, social media, marketing materials, customer relationship management platforms, phenomenal lead generation tools, business coaching, tech support, and live training. Everything you had in a brick-and-mortar office — but the upgraded, innovative version — is here for you and your team at eXp.
6. Agent Support and Services
Within eXp World is an entire support system staffed with offices such as accounting, human resources, brokerage operations, legal, tech support, brokerage operations, and more. There are even virtual meeting rooms, auditoriums and offices. It has everything an agent would need to conduct business and is staffed with real people nearly 24/7.
Brokerage Support and Operations
Each US state and Canadian province is set up with at least one state broker/Broker of Record and most states and provinces also have additional compliance and managing brokers for additional support. These brokers are there to help you conduct your business and help keep you up-to-date on changes within eXp as well as rules and regulations in the industry.
7. Real Estate Training
Training? Only if that’s what you love to do. Once you and your team are onboarded, you have access to 80+ hours weekly of the highest level of training and education via eXp University. Many classes are taught by eXp’s top-producing ICON Agents. And, if you miss a class, you can watch the recorded video later in eXp University’s vast video library.
8. No Costly Fees
eXp is not a franchise, so there are no desk fees, no royalty fees, no other random (small print) charges. At eXp, you pay a one-time startup fee of $149, which provides you with 1,000 business cards and covers your first month’s tech fees, and gives you access to training in eXp University as well as lead generation tools.
9. Retention and Reward System
Is agent retention on your mind at your brokerage? Is it a challenge to keep agents engaged and enrolled and loyal to your company?
A constant challenge for brokerage-owners and managers is finding, retaining and rewarding good talent. If your agents move to eXp, they can also reap benefits that owners typically enjoy such as a piece of the company dollar, and ownership equity. At eXp, agents get a generous 80/20 commission split with a $16,000 cap (and after that cap, 100% commission), but they can also leverage income opportunities through through generous revenue share and multiple stock award avenues.
10. Unlimited Expansion & Scalability
Joining eXp means real estate no longer has borders to you, literally. eXp is not a franchise — it’s one big international brokerage. Therefore, there’s no such thing as a “territory.” That means you have the ability to expand partnerships to other areas, regions, cities, states and even countries without red tape, headaches, complications, additional costs, obstacles or additional paperwork. At eXp, the walls are down, the borders are open and there is no ceiling on your growth potential.
11. You Have Multiple Income Streams
The biggest flaw in the traditional brokerage model, is that you stop making money once you stop selling real estate, or your agents stop selling real estate.
With eXp, you can leverage your income in a few ways that go beyond eXp’s generous commission program (80/20 split with a $16,000 cap).
For one, agents can benefit from the revenue share program and earning stock awards. That means at eXp you are building a business that will let you benefit not only from your efforts but the efforts of the team you build.
12. Collaboration & Lead Generation
It’s an uncanny phenomenon that wouldn’t be believed unless its seen!
As I’m sure you’ve experienced, at many other brokerages, territories are established and the competition is fierce, even among the same franchise brand.
Therefore, no one is sharing tips, classes, mastermind sessions or opening their Success Playbook. But at eXp, connections are made and trust is built via the Workplace site — essentially a Facebook page for business — where groups are formed and genuine support is given — especially referrals. There are Massive eXp Communities of Agents- some up to 13,000 agents, all helping each other on a daily basis and meeting up at events, weekly, quarterly and annually at conferences.
In a nutshell, eXp Realty allows you to return to the reason you opened your Brokerage or decided to become a Manager- to mentor and guide Agents to get to the next level in their careers.
All of us are powerfully positioned to serve the person we once were. The challenges we once had, the pain points, the problems that we needed to get solved. Joining eXp Realty will allow you to do just that and provide you the FREEDOM you crave!