Notes from a panel of the real estate power players: the never-eXp who joined eXp
I listened to Matt Fetick speak at eXpCON last week. He was part of a new-to-eXp panel talking about why they joined eXp, why they moved their hugely successful teams & brokerages to eXp Realty. My read was that the panel was made of major powerhouse Realtors / industry leaders (like Gary's Top 100) who had previously been in the stay-with-my-current-broker-forever and/or never-eXp un-recruitable camp who are now at eXp.
We are seeing more and more of the top-100, the biggest award-winners, the massive teams, the small & medium-sized independent brokerages who realized that the industry landscape was changing & they may need to review their options for how they want to run their hugely successful businesses over the next 10 years. There is a lot of movement in the industry right now & a bunch of that migration is from these big power players.
Let's take a closer look at why with some of my takeaway notes from the panel:
revenue is for vanity, profit is for sanity
how to provide more options to the team without opening a brokerage
opening an independent brokerage right now would be a race to the bottom
looked at the eXp model for another agent & had an "oh crap" moment because it was better ... better support, operational efficiency, cloud-based education, the 50% rev share
it's where the industry is heading
saw a 400% increase of agents wanting to join the team
had 60 agents, lost 10 in the move, was up to 90 within a year
went through every CEO of every major brokerage & it wasn't even close, eXp has them smoked
wanted to focus solely on sales vs being a brokerage owner
knew I needed to address this question ... what does the sales team look like in 2030?
blown away with the onboarding process (& somewhat embarrassed that my system was not anywhere near that)
I was never sold on revenue share but now blown away
look behind the curtain ... who is leading the charge in the industry?
The unrecruitable power players -- the open-minded ones -- are re-evaluating everything right now, taking off their forever-KW or forever-independent or never-eXp blinders and addressing the questions ...
how can I provide more to my agents? can I deliver everything they are asking for?
what does the sales team look like in 2030?
who is leading the charge in the industry?
how do I limit my legal exposure? and paperwork? and expenses?
how can I be more profitable?
how can I focus more on sales & less on all the hats I wear to run a brokerage?
what is my exit plan?
how do I improve my financial security?
what if I built my business on a better platform?
What if partnering with the eXp platform was the most important thing you ever did? Some of the top 100 are realizing that it may be.
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