If you’re anything like me, the idea of becoming a real estate agent seemed glamorous.
I watched ‘Million Dollar Listing‘ and thought to myself, “that looks like so much fun!”
Joining eXp Realty as a new real estate agent, you’re probably excited and nervous at the same time. Well, you should be because you’re on a journey to learning and experiencing a lot of things in real estate.
Here are a few of those things you need to know to help you get started.
Joining eXp Realty
There’s a lot of hype around eXp Realty. Some say it’s the best real estate company to join, while others warn new agents to stay away. So what’s the truth?
When I was deciding whether or not to join eXp Realty as a new agent, I turned to the internet for some answers. What I found were primarily people singing the praises of eXp, and insisting that it’s the only real way to go if you want to succeed in real estate.
Is this true? Or are they just trying to sell me something?
In this post, I’ll be honest about my experience so far with eXp, and share what you can expect if you decide to join too.
eXp Realty and eXp Realty Agents Explained:
Real estate agents, these days, are expected to multitask. The sector is already extremely challenging, but now you also have to make yourself available on mobile devices and computers 24/7.
With eXp Realty, you can manage everything from a mobile app or web browser. The dashboard will let you update properties across multiple sites in just one click.
You’ll also stay up-to-date on the latest real estate news, industry trends, and tips from top agents. The eXp University has courses for new agents as well as seasoned pros who want to keep their skills sharp and learn something new.
eXp is one of the world’s fastest-growing real estate brokerages. In the real estate industry, eXp Realty is renowned for having a state-of-the-art technology platform and systems.
The company’s cutting-edge online system helps agents to be more efficient in their jobs and gives them the ability to work from anywhere in the world.
Here are some benefits that eXp realty further offers to real estate professionals:
- eXp Realty is a great company to work for—they provide training, support, and resources that new agents need to be successful.
- You’ll get paid based on your production, so the more you sell, the more money you make.
- There’s no limit to how much money you can make as an agent with eXp Realty.
- The company is growing rapidly, so there are plenty of opportunities for advancement.
- You’ll have access to cutting-edge technology and tools that will help you succeed.
- eXp Realty is committed to helping agents reach their goals and dreams.
But here are a few questions you should ask yourself before deciding to become an eXp agent:
What other companies have similar business models as eXp Realty?
We know that eXp Realty is a commission-based company where agents are paid based on their production. The only thing a real estate agent needs to do is cultivate relationships with potential clients and close deals. Is this similar to what you see other companies doing too?
RE/MAX, Cushman & Wakefield, and ZipRealty are only a few of eXp Realty’s competitors.
If possible, find out if they also offer something that eXp doesn’t in the real estate business – like a higher commission split. The more money you make, the better!
How experienced are the people who work for eXp?
I’ve noticed that even new eXp agents can become top producers at some companies. In fact, their training programs are so good that they don’t need company veterans to help them get started at all.
The number of experienced agents you’ll find at eXp Realty can help you determine whether or not it’s a good fit for you.
The more experienced agents they have on staff, the better – that just means that more of them will be closing bigger deals and earning higher commissions than less experienced agents.
Believe me, a successful real estate agent (or someone that wants to be successful) will not join a company where he won’t get trained and mentored.
The real estate training industry is very competitive, so some companies are willing to hire green agents if they have the right skills and motivation.
Where does eXp Realty fall under, Pyramid Scheme or MLM?
To be honest, in my opinion, this company falls under MLM. I’ve read about eXp Realty that you have to be willing to share your revenue with the company.
The more agents you bring under your umbrella, the more money you get, plus the more money you’ll be sharing with the platform. The problem is that only 1% of all real estate agents ever make six figures, so if 99% fail, why not try something else?
When a company expects a new real estate agent to do all the work but offers little compensation and promises of unlimited income for your efforts – that sounds like a cult.
Real estate agents are independent contractors who need their own leads, so you can’t force yourself onto others without them wanting to work with you.
When you work for a company like eXp Realty, you’ll agree to make some sacrifices. The thing is that if they expect you to do all the work and not give enough back in return – you might want to think twice before joining them.
Is it worth joining eXp Realty for new real estate agents?
For new real estate agents joining eXp realty, here are some things to think about:
1. The company is growing rapidly.
There are plenty of opportunities for advancement. The more experience you have, the better your chances will be – but even if you don’t have any at all, that shouldn’t hold you back. The point is that eXp Realty knows what they’re doing, and they’re good at it.
2. The company claims that its agents make a decent living each month.
However, don’t forget to check out Glassdoor reviews before deciding if this is true or not. The amount of commission you’ll get paid depends on what you put in, so if you’re willing to work hard, they’ll reward you for it.
The best part is that the more agents you bring under your ‘umbrella’ – the more money you get. The company makes sure that everyone gets something out of it.
3. The eXp Realty application process is quick and easy.
Although, you have to remember that they are always hiring. The company recruits with the help of social media, so if your posts are good enough, they will give you a shot. The point is that there are no criteria for joining this platform – it’s all about who they think can do the job best.
4. The company is transparent about its compensation plan, and they’re not hiding anything from you.
The more commissions they get from new agents, the more money there is to be shared among all of them. If a company doesn’t ask for a commission, it means that something is wrong with it!
As long as you maintain your real estate license active, you will continue to receive your revenue share at eXp even after retirement, which represents the amount you put into your network and its development.
The whole concept of revenue share sounds too good to be true, right? The company is trying to spread the word about their platform through social media, and they want new agents to share their success stories. This sounds just fine as long as they are trying to recruit fresh talent.
Why do new real estate agents join eXp Realty?
What eXp offers in terms of education and training is second to none. The company helps real estate agents get new listings, create more buyers, learn about lead generation tools, and find better ways of networking in their business model, so they don’t have to do all the work by themselves.
The point is that eXp Realty is a community that provides its members with the tools and resources they need – and that’s probably the biggest strength of this platform.
The agents are always available to help new agents get started. They’re ready to share their success stories with them, which sets eXp Realty apart from the competition and from most companies that help provide a real estate career.
