Exp? Is or has anybody been involved with Exp?

Question

Hi all! I’m brand new to Real Estate and I’m planning in starting my real estate classes soon. I have been talking to a bunch of agents and so far a couple have brought up Exp realty, but I’m not so certain about starting with it first since I don’t know much about it. Does anybody know anything about it? And is it worth it?

Marian Huish · Answer

@Preetinder Singh -I'm with eXp and love it, however, as a new agent I would recommend going with a more traditional Broker starting off so that you are properly trained and knowledgeable as the eXp World can be challenging if you're not familiar with the business.  (I had 15 years experience when I transferred).  eXp requires new agents work with a Mentor on your 1st 3 transactions and of course your Broker reviews contracts and ensures compliance, etc.  It also depends on whether you're a self-starter as well as how much of a presence eXp has in your local market and whether you'd have the proper support you need.  [website and solicitation removed by Moderators]

Will Barnard · Answer

This is a great point which is why it is important that you look into the transaction history and experience level of the eXp agent you are thinking of joining under. While eXp has plenty of training in the cloud, your sponsor is just as crucial to your success if you are new. As for joining any other brokerage, what that broker and office has to offer you as far as on the job training is very important so choose wisely. When starting out as a new agent, it’s not about how much money you make, it’s about how much you can learn in the shortest time possible, this allows you to make more money down the road.

Maria D'Aura · Answer

I’m an agent at eXp and I love it. There are local agents I’m in contact with and meet up with in person. The training classes are great and as a newer agent you would be assigned a (local if there is one) mentor. I toured and interviewed with another popular broker, even attended some of their training classes, but ultimately felt eXp was a much better fit for me. Been with eXp just over a year now and it was definitely the right choice for me.

Amber Barney · Answer

I’m a newly licensed agent and was also struggling with what type of broker to go with. I sat in on an eXp meet and greet and although I like the freedom it gave and nice commission split, I didn’t get the feeling it was good for new agents. I want a warm body to mentor or train with and the person that invited me was just getting his license too! I guess I just didn’t get the ‘this is the place for me’ feelings. I searched some more and found Keller Williams (thx to BP). They’re known for training and coaching. Their commission is a little different but you get more hands on is what I felt. They do offer profit sharing within the company so it has some bonus structure. I would recommend finding one close to you and see when they have a meet and greet/career night to learn more. Good luck with the test!

Charlie Cameron · Answer

@Jessica Ribeiro Morning! Your mentor is a local agent assigned to you that helps you through your first three transactions. You’ll also get an additional training course as a new agent.

Your mentor takes 10% of your commission on those first 3 transactions. Still totally worth it, you still get paid to learn and it incentivizes them as well. Honestly, many mentors should get better compensated for the amount of time and effort they dedicate to mentees.

You can meet with, attend open houses with, and work with your mentor in whatever way works for the both of you. They often have weekly video meetings as well.

You’ll also have a sponsor at eXp who you can reach out to with general questions. Their role is to point you to the right resources and to support you.

Additionally, agents have to option to join local agent teams if they wish.

Abel Curiel · Answer

Hello Preetinder,

I have to agree with many of the folks on this thread. eXp has an excellent structure and has competitive splits/caps.

For a new agent who needs a bit more guidance, you should aim to join a team within eXp OR find another brokerage that can provide the 1-on-1 many new agents need. Some teams within eXp offer free coaching and weekly accountability to agents throughout the country.

On the other hand, if you're a go-getter and feel you can hit the ground running, eXp may be a good fit after all.

Interview 3-4 brokerages at least and compare and contrast. You can then make another forum post on here comparing the information you've compiled from the different brokerages. Plenty of folks on BP are willing to give their 2 cents and help you make your decision!

Best of luck to you moving forward!

Abel

Charlie Cameron · Answer

Yep @Preetinder Singh, to pile on: I was assigned an awesome mentor (required) - her plus an awesome local team make eXp work for me as a newer agent (which is good because I can't go full time yet).  Because it worked for me, I try to match new agents up with teams and mentors to talk to before they make a decision on which broker to join - similar to how many new agents interview multiple brokers.  It isn't always right for them, which is completely understandable.

Regardless of where you end up or for what you will use your license for, you WILL need support until you get street smart on contracts, transactions, lead generation, etc.  It is important to make sure you will get it.

Go out there and crush it!

Jessica Ribeiro · Answer

Charlie I am also new and looking for a brokerage in Miami. Interviewed Me and now I am researching about EXP.

your mentor would take you to appointments or something like that?  I am completely new to real estate.

is the montorship paid in advance or paid by commission?

thank you !

Sergey Tkachev · Answer

I'm also with eXp and have to say that I love everything about it! I agree with others that if you're a new agent, you need to have others around you who you can learn from and aside from a mentor, one of the best ways to do that is to join a team, which you can easily do within eXp. On top of that, you have access to the expertise to a whole nationwide network of other agents through the Workplace platform where you can easily connect with other agents, get involved in trainings, etc. So you get the best of both worlds - forward thinking technology that gives you flexibility and access to more experienced agents as well as the option to be part of a local team.

Exp? Is or has anybody been involved with Exp?

Most Popular Reply