A New Platform For Agents
A New Platform For Agents
The brokerage landscape is in flux. Mega Corp looks at our industry and decides they can do better than our traditional real estate model. Big Tech sniffs around our business and looks to exploit market “inefficiencies” with some sort of disruptive tech “solution”. Wall Street looks at our industry and thinks, how can we make big bucks here?
But who’s looking out for real estate agents?
Have a peek at an agent centric platform that’s not owned by Mega Corp, Big Tech, or Wall Street, but a platform owned by agents. It’s a whole new way of thinking about your career and your future.
My Thoughts On The Real Estate Industry
I’ve been doing this a long time. 33 years to be exact. I believe that the fundamentals of selling real estate have not changed much. Technology has changed the way we run our business, but it’s still a people business. You still need to talk to people and generate leads. You still need to help people solve problems. Getting listings and helping buyers is still the name of the game.
In the last decade a lot of companies have entered the real estate industry. From Tech companies who take our listing inventory from our MLS feed and sell leads back to agents to brokerages who, flush with Wall Street cash, lease splashy offices and lure top agents with bonuses and competitive splits. Let’s not forget the discount brokerages, like the one from across the pond, who thinks a discount model is the way to go (it’s not).
Who we are
The eXp platform is unique. First, our agents have ownership in the company with stock. Can you own a part of your current brokerage? I didn’t think so. This ownership component is a very powerful element that creates intense loyalty and pride in the company. We are the captains of our destiny, not some hedge fund guys in New York or some tech bros in Silicon Valley.
Another unique element is that our platform is cloud based. We have no physical offices. Agents work from home or shared space across the country and Canada. This saves the company a tremendous amount of money.
Leasing and maintaining offices or retail space is expensive. Look at all of the companies shuttering their real estate. Sears, Macys, Toys R Us, and many regional malls have closed up shop because of the costs of leasing space.
The bottom line is that these costs savings are passed along to the agents in the form of very low caps, low monthly costs, and free cutting edge technology tools to run their business (like this KV Core website you are reading).
Revenue Sharing is another unique and important factor. As a company policy, eXp Realty itself does not recruit agents, or offer bonuses to attract top agents, or spend any money or effort to attract agents. Instead, eXp Realty rewards its agents who invite and attract other agents to eXp Realty with a portion of their team’s commissions. You can actually receive revenue 7 levels deep. Imagine the revenue share by attracting 25, 50, or 100 agents on your team! It’s pretty exciting and another reason why we eXp agents are so committed to the company.
A good analogy to explain our platform is the Blockbuster / Netflix story. Blockbuster was the big boy on the block. Along comes Netflix with a different platform, first mailed DVDs, then online streaming. Blockbuster has a ton of physical locations. Netflix is cloud based. Today Blockbuster is a shell of its former glory and Netflix is worth billions.
When I hear of brokerages opening fancy offices with expensive leases, I know their agents are paying for that office space in the form of uncompetitive splits, high or no company dollar cap, annual company license fees, desk fees, parking fees, no revenue share, and no ownership possibilities. That brokerage model is dying.
Our Technology is Second to None
eXp Realty was built from the ground up to operate in the cloud and built to scale up to handle thousands of agents. We are not a traditional brokerage with expensive physical locations that realized too late that change was needed.
Our meetings and trainings take place in our Cloud Office that we call eXp World. This is a virtual 3D world where agents have avatars and you can visit operations like the transaction department, training department, agent services, and tech support.
We have a dedicated tech support team that is there to handle any and all tech support requests whether it is setting up email, your website, your computer and whatever else you might need.
We also offer our agents one of two types of cutting edge lead generation websites: Kunversion KV Core and Commissions Inc. These platforms allow our eXp agents the ability to generate and nurture leads. These sites normally cost $500 or more monthly to use but every single eXp agent gets one for free. eXp Realty is a leader in technology and will continue to innovate and bring new tech tools to our agents to help them grow and prosper.
So where are you at with your career? Could it be better? Of course it could be better. So why not look in to it? Give me a call or shoot me an email and let’s chat. The company philosophy is to organically attract agents by those you know or meet or by doing a transaction together. We don’t mass market this because we believe we attract high caliber people that share our vision one on one. Hope we can talk soon.
“America’s first agent-owned cloud-based real estate brokerage”
For more information visit my eXp Realty information site at: http://derrickruiz.exprealty.careers