Keller Williams or eXp Realty
I’m having a hard time deciding between the two of these companies. I’m about to take my license exam. Despite what some of the posts on here say about starting as a licensed agent before jumping into investments, I’ve decided this is the route I’d like to go.
I’d like to be an investor friendly real estate agent and I’d like a company who supports that. I’d like there to be high quality training and lessons offered at that company as well. From my research it seems these are my best options.
Hoping someone can help me decide and tell me why I should or should not choose a certain one.
Thanks in advance!
- Nick Ferraro
Most Popular Reply
My own experience, which could be different from others. I like Keller Williams because of the training that they offer. I found the training to be excellent and it had a very good support staff. eXp didn't seem to have a similar set up. For a new agent, the training and camaraderie in the office is extremely important to professional development. eXp may have these in some locations, it just wasn't the case in my situation. Just based on my experience, I like KW more. But like I said, this is just my experience and someone else could experience the complete opposite.
My own experience, which could be different from others. I like Keller Williams because of the training that they offer. I found the training to be excellent and it had a very good support staff. eXp didn't seem to have a similar set up. For a new agent, the training and camaraderie in the office is extremely important to professional development. eXp may have these in some locations, it just wasn't the case in my situation. Just based on my experience, I like KW more. But like I said, this is just my experience and someone else could experience the complete opposite.
I joined KW not too long ago. My understanding is that the main difference being eXp is more cloud based and KW is more of your traditional brick and mortar brokerage. You can really get training anywhere it doesn't have to be from your own brokerage, but if your looking for classroom training for little or no cost; KW is your best bet.
IMO i would be more concerned with figuring out where you can get the most mentorship and potentially the most referrals and leads from the get go. Unless you have an incredible network already built up the beginning will be challenging so whichever brokerage in your area has the top producers i would join.
#2 Real Estate Agent Contributor
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If you want to be an investor or work with investors I think there is no better place than KW.
You can start by reading the books we wrote ....3 books specifically....Millionaire Real Estate Investor, HOLD, and FLIP. It's not about investing per se, but you might also want to read the ONE Thing and start listing to the podcast Think Like a CEO.
I would venture to say there are probably more investor agents at KW than with any other company. You just have to find the right ones to hang out with. The founder of BP is a KW investor agent. We regularly have investment opportunities and seminars in my office, but of course each office is different. I think no matter which niche of sales, or which niche of investment you want to do, there is someone at KW doing it not only in a big way, but in a GIANT way and that is different than every other brokerage out there. I thought it was really cool in my office for example that we recently had a panel of all women investors. All had difference niches...one AirBnB, one flipper, one buy and hold, and one does a little bit of everything. We're trying to provide opportunities for people to build wealth, not just transaction income. If you focus on it, profit share is also a way you can build passive income. Even the founders of EXP have made pretty good profit share from KW, and I believe continue to do so.
One thing I would suggest is NOT to invest in brokerage stocks. These have been horrible performers. KW is not public, so you can't buy stock, but if you want to play around in the stock market you can buy all kind of brokerage stocks if that is where you want to go. If you want to invest in stocks, I'd probably look at the REIT type stocks though vs the brokerage stocks.
At KW you can be cloud based if you want to....there are some people I've never seen in the office or even live in a different state or country. Of course we have brick and mortar too, so that is a nice option. What I see though for the most part is that the people who plug in to in person training and are in the office networking and interacting are the people who become producers. Not to say it can't be done virtually, but very very tough. I think you have to be the 1% of the !% to think there is even a chance that will work for most people.
Thanks! I appreciate the reply
You bet! Best of luck!
I appreciate the reply! Thanks for the help. I’m actually almost done reading the Millionaire Real Estate Agent, very helpful information in there.
I like Exp for the following reasons:
16k stock payout for being an icon agent and 5% of income invested to EXPI for long term growth in stock market.
Revenue share from brining on agents.
You can be a mentee and acquire more agents to grow team.
International presence with leading innovation techniques that will expand the brand.
Low cost for fees.
You cap out very quickly. I recently join and have earn a tremendous amount of stock that has 2x since the market bottom.
Hey Nicolas! 👋🏼
I have worked for both KW & eXp and while yes KW had great educational classes, I have found the exact same with eXp - because they are virtual, the number of classes is innumerable and tbh I left KW because the commission splits were horrible and the cap way too high.
I joined eXp and within a month I was getting lender verified leads. At KW I would get leads but I had to vet them, and nothing ever came of them.
I also hardly went into the office so to let it was a no-brained to jump ship to eXp.
@Bruce Lynn Jost Dorkin is a KW agent? Everything you are saying sounds alright if you live in Coppell, TX. Unfortunately becuase KW is franchise model every office is individually owned and operated so how one office runs business may be completely different than how another office runs business so it sounds like your office is doing amazing things but I don't see how that benefits an agent living in NY.
@Nicholas Ferraro the debate between KW and EXP is on going, there is no right answer. I can offer my opinion for both companies becuase I spent 4 years at KW and made the switch to exp about 5 years ago. From a math stand point, meaning the financials EXP is far superior the reason I know this is becuase I lived it and I help agents make the switch from KW to EXP for this reason alone very consistently. Happy to do a financial comparison for you or any other realtor who thinks numbers are important regardless of what brokerage you are at. From an education stand point I had 1-2 classes per week at my KW office, now I have 20-30 per day many of which are taught by top producing agent (not prerecorded, live interactive classes). Collaboration hands down is what changed my business, coming over to EXP and being introduced to the nation wide group of investors that are willing to help each other is the reason my business is what is today. KW could never offer this (with the exception of family reunion, once per year costing agents thousands of $) because KW is 1 office in 1 location, the 100-200 agents in the office you join is all you get (if they are willing to help you, in most case they are not incentivized to help one another like exp agents are). At EXP you'll have access to over 86,000 agents around the world on a daily basis and I can say it changed my life.
When brokers tell agents you need to come into the office to be successful realtors I remind them of 2020 where as you may remember Nicholas your state and my state were literally shut down. As a realtor I was not allowed to go to an office. But somehow record real estate sales took place that year. If you would like to look at EXP and KW from the eyes of an investor I am happy to help run numbers and breakdown the EXP model for you. If you want to be a part of high level conversation with top producing investor friendly agents from around world, I am happy to set that up as well.
- Shawn Mcenteer
- 9739753895
Best wishes,
#3 Real Estate News & Current Events Contributor
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#3 Real Estate News & Current Events Contributor
- Real Estate Broker
- Minneapolis, MN
If these are your reasons for asking eXp or KW, than this is very easy; NONE OF THE ABOVE.
Your new, so I get it, what's going through your head and the vision you have for how the R.E. agency world works, it makes sense, only problem is it's only in your head, the R.E. world does not work like that, not at all.
The brokerage actually has very little to do with your day-2-day life as an agent. The brokerage does not dictate the edu you get, the support, environment none of that. All those things your talking about are TEAM aspects, the things dictated by the specific TEAM you join.
KW is a franchise, just like most brands in real estate. So each franchise owner does things a bit differently, and your experiences will vary. And than going a level deeper each specific location has different leadership that varies things, and then teams within those locations.
The #1 reason people go eXp vs KW, is the fundamental design of the brokerage and what it means.
With eXp, it's a singular entity nation wide meaning a person can grow, recruit, relocate with zero impact of crossing franchisee borders. Also the residuals from recruitment is a major one at eXp although that's thankfully being eclipsed by actual active R.E. activities, so less "MLM" and more "MLS".
The #1 reason people go KW, honestly, because they are new and don't really know much yet. Yeah, that's the brutal honest truth. KW isn't bad, actually I'd argue they are the best at what they do but there is a reason so many leave KW after getting any experience under there belt. Personally I found the whole training stuff they pump at KW worthless, but that's me, I saw plenty eating it up with a shovel, never saw it make a penny of difference in there production and income but they were happy as a Hindu Cow after those things.
I looking to be something like a REI Realtor, which ah-hem, I think I am the expert on, lol. I'd strongly lean toward eXp because it's simply a more rich environment in that manner BUT switch gears and search out TEAMS within the brokerage. If you enter solo, it's gonna be one heck of a struggle anywhere and everywhere.
@Nicholas Ferraro how are you preparing for the license test?
So start out I would go to different KW and RE/MAX brokerages since you are a 1099 employee everybody will gladly hire you Ask to speak to some of the teams and seeing if they are accepting new members and start off as a buyers agent. This will help to get your business started and the learning curve will go really quick versus starting on your own and paying big money for leads and eventually becoming another statistic
Good luck
I started EXP as a new agent and I'm 2 years in and very happy w/that decision. I think KW is also a great option. Here are my thoughts though I agree w/many of the statements above:
- The investor agents I followed already on BP (ie. Avery Carl) were w/EXP. I was an investor prior to becoming a realtor.
- EXP is more of an Entrepreneur, This is YOUR business vibe - KW and definitely brick and mortar teams give me the w2 vibe
- EXP is only going to work for you as a new agent if you: have business owner mindset, take extreme ownership, tech savvy, self starter, resourceful, you don't wait for people to give you instruction - you ask questions and seek the answers to creat your path forward, you want to do things your way w/mentorship & trainings of course, but you like the idea of running your own business. You're comforable working from home - if not and you like EXP, find a brick and mortar EXP team near you, that could be an option.
-If ramping up as quickly as possible is important to you I would consider joining a team first and not worrying as much about the brokerage. If you are starting PT, go EXP.
Good luck on your test!
#2 Real Estate Agent Contributor
- Real Estate Broker
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@Shawn Mcenteer David Green @ Bigger Pockets not Josh. While each KW office is individually owned, I think this young man can find his tribe at KW in NY, NJ or in most states, and over 50 countries worldwide. Nearly 180,000 agents have found their tribe with KW. It's pretty common we network between offices, so doesn't matter if that is Coppell, TX or upstate NY. Of course you don't have to find your tribe within a brokerage network. Sometimes it is other local investors, sometimes it's within the niche of investing you want to tackle. Personally I do all 3. At any brokerage you have to have the drive to be interested, sell enough to have capital to deploy, and have the mindset to make it happen. The good news is at KW we have all those things....a similar culture that makes it easy to network, investors in all types of assets, and at many offices regular opportunities presented for investments. Not everyone takes advantage of those, but they are there if you seek them out. For me it's not just about transactions, it's about building long term wealth, and I can't imagine there are many other brokerages set up to do that or actively provide those opportunities for their agents. I'm sure there are some. The only other one that comes to mind is Trammell Crow which is a commercial brokerage that has probably made more millionaire agents/brokers than any other brokerage-ever. Not 100% sure about that, but it's my guess. Not sure there is a way to prove one brokerage vs another, but I'd bet there are more investor agents, serving nearly every niche of investing, and doing it in not only a BIG way, but a GIANT way at KW vs any other primarily residential brokerage in the US. That's not putting any other brokerage down, I think that is just not the focus of most brokerages or organizations. Maybe it's not even the focus of most agents.
No Doubt @Bruce Lynn your tribe can be found anywhere. The way I look at brokerage is simple, its a tool to move your real estate career forward. I look at brokerage like an investment in terms of where you can get the greatest ROI is where I want to be. KW is truly a great brand so grateful for them becuase with them EXP probably would not be as good as we are, we took an amazing real estate model and put the agent on top instead of the franchise owners. Long story short everyone can say "my brokerage is best" its subjective, the numbers on the other hand do not lie. Simply put and this is just my personal experience, switching from KW to EXP gave me 20k raise right away a few years later much much more reoccurring income via Rev Share than what profit share was giving and the best part something only allowed for a few KW elites in my office, I was given ownership which ever agent at EXP has the opportunity for. True wealth creation as we all know is built on ownership, when you see the opportunity of what EXP truly is and you understand it there is no denying it. I run financial comparisons all the time for solo agents, team leaders and even broker owners interested in the opportunity at exp. We should hop on a call see what we can do for one another, worst case scenario you'll see for yourself if everything I am saying is real. Who knows maybe we can be in business together :)
- Shawn Mcenteer
- 9739753895
#2 House Hacking Contributor
- Real Estate Agent
- Los Angeles, CA
For what it's worth, agents that I've spoken to about joining Keller Williams because of the training have been disappointed. You have to pay for the additional mentorship. There's nothing wrong with it, but you need to be aware.
I'm part of a very small boutique brokerage, so from the outside I think you could be fine with either but you really need to get the mentorship (even real estate coaches like Tom Ferry, Brian Buffini, etc. are a very good use of your money).
Just be prepared to work hard and not make a first sale until at least 6 months to a year out.
I interviewed to change brokerages a couple of years ago and talked to both. Since you are brand new you have different needs than a lot of brokers - you need both training and mentorship. KW yes offers lot of training and is known for that. A lot of new brokers start there. ExP has the cloud based brokerage. In Oregon they have limited Principal Brokers, so if you have a question, need help, etc you have to go to the person who recruited you - who may not have much more experience than you. That concerned me when I talked to them.
Talk to lots of brokerages and understand their models, how they pay commissions, how they do or don't train you and if they provide mentorship. Expect to go 6 months without a paycheck but paying lots of expenses upfront for dues, signs, lockboxes, marketing, training, etc. So be prepared for that. Run it like your business, work hard and ask for help. Let everyone you know, and I mean everyone, that you're in real estate - your mom, your childhood babysitter, your hairdresser, your neighbors - that's how you generate leads. This whole business is based on lead generation - you generating your own leads. No one will hand you business. You go out and hunt for it.
Depends if you like money or not
Neither, choose a brokerage that allows wholesaling and promotes being entrepreneurial.
Lol, can you explain more?
Sorry for the late reply but figured I'd respond anyways if it still helps!
I was in your shoes just 3 years ago and wanted to find a brokerage friendly to investors. I'm at eXp but I know both companies are great. My understanding is that Keller Williams is more traditional but really specializes in training and helping you in person. eXp is has tons of awesome training too but you use a web platform to access it which is great if you are more computer savvy and will to learn online. If you were interested, there are a lot of great groups within eXp that can help you meet your specific goals.
For example there are several organizations that are investor-friendly and provide extra training and 1 on 1 help for investors looking to maximize income with their license. I'm part of a group with the founders of the Fortune Builders group, so that's been really beneficial for me to learn from those guys! Wholesaling is possible but only under certain conditions that require more explanation. They also have an option to join under a referral branch of the company where you still remain licensed but can make your license dormant temporarily if you are going through a period of time where you are focusing on investing more than selling and would rather not pay the high fees of the MLS. Just something to consider!
Regardless of where you choose, Good Luck and please don’t hesitate to reach out if you have any questions.