eXp Realty Careers
Are you a new real estate agent? Perhaps you have years of experience or even own a real estate brokerage firm. Have you been researching Orlando, Florida real estate careers and wondering, should I join eXp Realty? Regardless of where you are in your real estate career you owe it to yourself to at least consider joining my team at Real Property International powered by eXp Realty.
eXp Realty is a publicly traded corporation (stock symbol OTCQB: EXPI). The company operates in 43 States and Canada with +4,600 real estate agents and annual revenue of +$95M (as of fall 2017). And eXp Realty is one of the top 15 brokerage firms in the U.S.
eXp Realty is a game changer in the real estate industry. I will try to summarize all of the eXp Realty Florida benefits, but to understand how truly revolutionary this company is please contact me at 407-906-9135 to schedule a consultation.
eXp Realty started in 2009 and is one of the fastest growing brokerages in the country. The fact that the company started the midst of a housing bubble and continues to be successful speaks volumes. In my opinion, it is great to be a part of a business that is a proven concept and on an upward trend. What if you could have been part of Microsoft, Apple, Dell or Google on the ground floor? Do you think you would have had the vision to see the opportunity of ahead of you? Don’t miss out on this opportunity!
Many experts agree that eXp Realty is disrupting the real estate market just like Uber did to transportation, Netflix did to Blockbuster, and Amazon did to shopping. Do you remember when we use to go to a physical building to rent videos? Unfortunately, Blockbuster did not see the signs that the industry was changing. It was this lack of foresight and willingness to change with technological advancements that caused Blockbuster to fail.
There are hundreds of REALTOR jobs in Orlando, Florida for you to choose from, but do you want to be a part of an average status quo agency or part of the future of real estate? Here are some questions to consider when deciding which real estate brokerage to join?
Wondering how to choose a real estate broker to work for? Research the following questions.
Does the broker offer a company stock ownership program?
eXp Realty awards its agents with company stock on 3 different occasions (subject to vesting requirements). When you close on your first transaction every year you will get shares of eXp Realty company stock. For each agent that you add to your team you are given shares of stock. And top producing agents ($80K in gross commission income) have the potential to earn up to $16K in company stock for that year. Also, up to 5% of your commission can be used to purchase stock at a 20% discount.
Does your broker offer revenue or profit sharing opportunities?
There are major real estate companies like Keller Williams and Exit Realty that offers profit sharing. eXp Realty offers a revenue share program. The difference is Keller Williams pays agents from net profit (if there is any) and eXp Realty pays agents from gross revenue (whether there is a profit or not). Revenue sharing provides a transparent and simple calculation of future income without the confusing negative of “to be determined” operating expenses that could result in little or no profit.
When you add people to your own personal team you have the opportunity to receive part of your team’s revenue. In the traditional brokerage model only the broker can add agents to their team. The eXp model allows any agent to create and grow a team and earn revenue. This enables agents to earn passive income.
Under the traditional broker model you have to always be working to buy or sell a house in order to earn income. Under the revenue share model you will earn residual income even while on vacation. eXp Realty is the first real estate company to grow organically through agents referring other agents than through brokers opening up franchise offices.
What are the desk fees?
eXp Realty does not have any desk fees. There is a $99 start-up fee and $50 per month technology fee. Included within the monthly fee are two IDX websites to help you generate leads. You have your choice of Kunversion or Commissions Inc. (CINC). If you were to buy your own Kunversion website it would cost you a $500 set-up fee and $1,499 a month (includes $500 In Google Adwords). CINC is also $1,500 per month. Both websites are included when you join and have a built in CRM software (customer relationship management).
eXp Realty also has a lead generation program called Making in Rain. The program uses your Kunversion website to generate leads through Google Adwords. This is great for agents that want to generate their own personal leads, but don’t have the time or expertise to manage Adwords ads.
What are the royalty or franchise fees?
There are definitely some bigger recognizable brand names in the real estate industry. The problem is that agents are stuck with the burden of paying fees to use their brand name. There are not any royalty or franchise fees at eXp Realty.
What is the commission split?
The commission split is 80/20. 80% of the commission goes to the real estate agent and 20% goes to eXp Realty. Once you have hit $80,000 for the year in gross commission income or a $16K cap you will get to keep 100% of your commission, but transaction fees still apply.
What is the real estate company’s turnover or retention rate?
This question is a critically important to ask, because if other agents aren’t successful at that agency what makes you think that you will be successful? The turnover rate for new real estate agents is extremely high. Most agents do not last more than 2 years in this business. For those that do stay in the business the agents move around from broker to broker desperately trying to find the “right fit”.
You need to know what type of strategies are in place for agent retention. All of the eXp Realty Florida benefits that I have mentioned set eXp Realty apart from other REALTOR jobs in Orlando, Florida. Benefits such as the opportunity to build a team, training and development, personal websites, to the stock ownership. Company ownership is a huge retention strategy, because agents & brokers are less likely to pursue other opportunities if they are shareholders.
Keep in mind that most brokerages don’t even have a retention strategy. Prior to joining Real Property International I interviewed several brokerages in order to figure out who would be a good fit for me. A lot of real estate companies just automatically assume that REALTORS are going to constantly switch brokerages so they don’t even try to make agent satisfaction a priority. Their strategy (or lack of strategy) is to constantly bring in new agents to replace the existing agents that are going to leave.
How many brokers can say that they have a 90% agent satisfaction rate?
eXp Realty uses a survey system to gather agent satisfaction and retention. The survey asks, on a scale of 1-10, how likely are you to “refer eXp to a colleague or friend”. More than 80% of eXp Realty agents answered with a 9 or 10 (10 being the highest positive response) and less than 10% could be viewed as dissatisfied. eXp Realty continues to invest heavily to improve agent experience and satisfaction with the goal of having the industries best retention rate. Furthermore, eXp Realty was voted one of the best places to work by the Washington Post, the Atlanta Journal Constitution, Glassdoor and Indeed!
How is eXp Realty versus big brand names like Keller Williams, Coldwell Banker, Century 21 or Remax?
According to the National Association of REALTORS only 3% of buyers and 4% of sellers choose an agent based on the brokerage firm. You are your brand! eXp Realty gives you the freedom and flexibility to create your brand and business to fit your style.
What type of training and development does the real estate agency offer?
eXp Realty provides training in an internet cloud campus called eXp University. eXp University is a virtual classroom where agents & brokers can receive +25 hours of training per week. The classes range from best practices, overcoming challenges, growing your business, marketing strategies, social media strategies, to lead generation. You can attend beginner to advanced level class and seminars from anywhere in the world. Also, eXp Realty has a low cost mentoring program. The mentor program is only for the first five transactions and the mentor receives 10% from those five transactions.
Once you join you will create an avatar and that is how you will attend meetings. There is a $420 fee for eXp University tuition that is paid annually on the anniversary of when you joined. Contact me if you would like temporary guest access to see the eXp University environment and experience some of the classes for yourself.
Here is an example of a class that is offered at eXp University. This presentation provides an overview of eXp Realty.
What about office space for meeting with clients?
Real Property International powered by eXp Realty has office space located in downtown Windermere, Florida. If you are not in the Windermere area, eXp Realty has a relationship with Regus. You just provide your ID number to book a conference room and you can meet at any of their offices for free. There are about 3,000 locations throughout the U.S.
Is eXp Realty a pyramid scheme or MLM?
Pyramids are illegal. eXp Realty is a legitimate business that is regulated at the state level and requires an active real estate license. Most multi-Level marketing companies (MLM’s) are legitimate businesses. MLM’s require its members to purchase inventory or services and to hit minimum quotas. eXp Realty does not sell a product or service and does not have any minimum quotas. Plus, participation in the revenue share program is completely optional.
eXp Realty is a group of REALTORS that share a portion of the commission made from real estate transactions. This is a program that eXp Realty offers its agents, but you are not required to participate. Also, normally the people at the top of the MLM’s hierarchy make tons of money, because the levels or tiers are unlimited. eXp Realty has only 7 levels. This evens out the playing field for all agents including newcomers. The top revenue earners can only earn money off of agents 7 levels down.
Do you want to own a real estate brokerage, but don’t want the liability and expense?
The eXp Realty broker model is the solution. You can be a broker-associate. Most real estate brokerages run at less than a 4% profit margin. Being a broker-associate with eXp Realty will give you all of the benefits of being a broker without all of the liability, expense and headaches. If you are evaluating becoming a broker and owning a franchise read my other article.
This video explains some of the reasons that top producing brokers are switching to eXp Realty. Gene Frederick ran Keller Williams offices and owned six Century 21 franchises. Gene sold all of his Century 21 franchises and switched to the eXp Realty model. He believes that eXp Realty is a paradigm shift and the future of real estate!
In 2017, my broker decided to move her entire real estate office to eXp Realty. Prior to that Real Property International was an established top producing brokerage in the Windermere, Florida area for many years. I am glad that she made the decision to switch. eXp Realty has opened up so many opportunities for us agents that she could not have provided on her own.
eXp Realty has opened the ability to leverage advanced real estate technology platforms, attend a vast array of training and development classes, participate in a mentor program, and the opportunity to learn from and share best practices with agents from all over the world. And of course, eXp Realty has opened up the ability to have a retirement strategy and earn residual income. These are just a few of the benefits that we gained when my broker moved us to eXp Realty.
Do you still have questions about joining eXp Realty?
eXp Realty shares revenue with its agents, gives agents stock and ownership for selling homes, and pays a 100% commission when you reach $80K in gross commission income. eXp Realty is not for everyone. You need to be sponsored in order to join. And you are required to have an active real estate license. To learn more about nationwide eXp Realty Careers please contact me to schedule a consultation at 407-906-9135.
Please read this article if you want to know what steps you need to take to in order become a Florida Real Estate Agent.
Rhonda Eaves, REALTOR© | Real Property International powered by eXp Realty