Thoughts on Exp Realty?
To my sisters and brothers in the real estate biz - I'm considering joining Exp Realty and curious to hear your thoughts - positive and negative - on this company/their approach. On the one hand, the stock options, agent referrals, etc, make it feel like a no-brainer. On the other hand, if it was truly a no-brainer, wouldn't everyone be doing it?? Thanks!
@Sarah B. great questions, and so glad you are digging into all of this before you make the switch. It's a unique model, but as I mentioned, definitely not for everyone.
I suppose first off I'd say don't ever choose a brokerage because of the leads they give you. I also wouldn't choose a CRM because of the lead gen tools, rather I'd focus on the CRM aspect and nailing down your personal follow ups within it (tracking them, setting up email templates, etc) It may seem counterintuitive, but focusing on getting leads is providing the lowest value possible in my opinion, as far as a brokerage or CRM is concerned. Sure, that broker often pay for those leads and need reimbursement through the split, but once you have your own systems, support and are focusing on your unique niche, those leads quickly become unnecessary to sustain and grow your business. The first brokerage I started with had the same model, and I also quickly became frustrated with handing over a chunk of all the work I'd done. The other problem with some brokers (not all, don't jump on me folks) is that they cherry pick the best leads, and then parcel out the others to select agents. Now, I don't see a problem with matchmaking the leads with the right agent that knows how to work them, because otherwise you are doing the lead a disservice. Example: A $2M lead comes in and a newly licensed agent takes the call--Is that working in the client's best interest? But I digress...
I think many agents stick with the model you describe because they don't have a clear understanding of how to build a business foundation that belongs soley and completely to them (CRM, website, follow up systems, all of it) so they stay stuck at a certain level telling themselves they have no other choice. When you build your own business correctly, the brokerage you attach your license to becomes secondary. So, way to go understanding you don't need to give 50% to that brokerage and are ready to go it alone.
I have my own CRM (Realvolve) that I've used since starting in real estate that has continued to outperform all of the others. However, since joining eXp I've been testing and using KVCore for new seller leads, video marketing and other things since I'm going to be offering a training day for new agents coming onboard later this year, so need to see what it offers. So far I must say I've been impressed, and I'm a tough audience :) They do offer some add-ons for lead gen, such as these, but again I wouldn't jump in and start paying for leads right from the get-go, otherwise you'll essentially be doing what your doing now, paying a huge chunk of your commissions for low quality leads.
It will take a lot for me to move my CRM over to KVCore, as I've been self sufficient with my systems through four other brokerages as well as my own before moving to eXp, but I must say, I'm tempted for the first time with KVCore. I hope this helps! Feel free to PM me with more detailed questions.
Welcome to eXp @Page Huyette! I've just passed my 3 year mark so I'm vested! ; D. I love everything about this brokerage but particularly what you pointed out:
That alone is what differentiates the eXp model: there is a vested financial interest in supporting other agent's successes. It raises the bar in real estate overall, and goes completely against the me vs. them ego-centric culture of real estate I have been constantly fighting against.
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Real Estate Agent DC (#AB98363971), MD (#580520), VA (#0225072524), and Nevada (#BS.01458761.MGR)
Hi Ben, I joined eXp Realty in January 2021. I love it. My only regret is that I didn't do it sooner. I've been in the Real Estate business since 1986 so I have seen them all. I vetted eXp and held og=ff on joining for over 3 years. Boy... was that mistake. It's not for everyone but if anyone is serious about creating multiple streams of passive income... There is no other company better - in my opinion.