- Overhead & Costs. One of the big benefits for brokers is the reduction of overhead & costs... With no need for a physical office or office staff, brokers can drastically reduce the amount of money they spend to operate their businesses... No more copy machine or printer paper, office supplies, coffee & snacks, office insurance, utilities... No more office manager getting paid to sit in the office & play on social media, no sales manager, no accounting department, no transaction manager, no recruiters, no janitor... You get the picture. With eXp, everything is designed to operate in the cloud... From the Training, to Tech Support, to Transaction Team, Accounting, to Agent Services... While brokers can still keep their office, if they choose to, most who join eXp decide to transition out of their offices as they utilize the online tools provided and see that most agents are not using the bricks & mortar office.
- Liability & Responsibility. Another huge difference for brokers who partner with eXp is that the brokers no longer hold the licenses of the agents... drastically reducing their risk, liability and responsibility. This is not only a financial benefit, but also a big weight off their shoulders. They no longer have to carry errors & omissions insurance to cover the agents & no longer have to constantly worry about being responsible for the actions of the agents.
- Training & Support. The brokers are also no longer responsible for all of the agent training or all of the support. Let's face it... Real Estate School doesn't fully prepare agents for a successful career in the industry. And, with constant updates to contracts & regulations, it can be difficult for brokers to keep all of their agents informed & compliant... With all of the online training that eXp provides, training that is accessible to the agents from anywhere - not just training they get if they physically come into the office - the brokers can feel comfortable knowing the agents have access to some of the best training & tools in the industry. And, with eXp, the agents have access to the eXp staff for support with everything from technical issues, to accounting issues, to contract questions… And, each contract is reviewed by a state broker… How would you like a lot more of your time back?
- Revenue Share & Stock. These are obviously the biggest differentiating factors with eXp Realty and they benefit both the brokers & the agents. The brokers & agents will benefit from being able to earn the revenue share from the agents they bring on and from any agents brought on by those agents… and the agents brought on by those & so on for 7 tiers… Brokers & agents will also earn stock when agents brought on by them close their first transaction each year… Brokers & agents can actually get stock 6 different ways & are able to purchase stock at a 20% discount… What is so cool about all of this for the brokers is that with eXp, they can now offer this to any agent that moves to eXp with them or joins eXp with them… This is something that no other brokers offer & is a huge recruiting tool… No other real estate companies offer a revenue share platform as rewarding as the eXp model or really any semblance of a retirement plan for their agents… We of course have seen other companies offer “profit share,” but nothing even comparable to the eXp revenue share, which comes off of the top of the commission… not off of the bottom, after office rent & bills are paid, after the staff is paid, after marketing costs & after all other expenses are paid – and only if the entire market center is profitable… Talk about a competitive advantage!
- National Expansion. This one is super exciting! With eXp, you are able to recruit & bring on agents in any market they they are in… Which is currently 50 US States & 3 Provinces in Canada… And, Mexico is right around the corner! You don’t have to get licensed in multiple states or join multiple boards or pay multiple MLS fees… You don’t have to open up a bricks & mortar office in each area you want to grow in… And, the agents are able to do this as well… Another great recruiting tool & another reason we are seeing so many agents, teams & brokers join eXp and why eXp has seen substantial growth year-over-year.