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EXPs model cost me millions · The Real Estate Agent Playbook

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  All real estate agents have a goal when they first start out
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  to hit that six figure mark, the kind of holy grail of, you know,
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  entrepreneurship and, and all of that.
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  I currently have a goal now that I've reached six figures, multiple
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  years, multiple six figures now to make seven figures in a single year.
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  When looking back and realizing that the exp model cost me.
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  Multiple seven figures because of my inability to look past the 80
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  20 commission split, the fact that the model was not presented to me
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  properly, thinking that that decision costs me seven figures, multiple seven
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  figures is absolutely heartbreaking.
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  But the truth is that's the facts.
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  We're gonna dive into that next.
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  What's up, guys?
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  Jeremy Kane Real Estate Agent Playbook.
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  I'm, you know, as as upset as I am.
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  I'm excited for this episode because it's a really an introspection on my
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  real estate career and understanding the entire picture, which I now see as
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  an agent at, you know, exp and the Wolf Pack, and having an organization of 50
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  agents and helping, you know, 50 agents at this time completely change their
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  life and this life-changing opportunity.
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  I don't want those agents, whether they're new, you know, seasoned to
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  kick the can down the road and not reach those goals, whether it's six
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  figures, seven figures, or beyond.
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  I know that, you know, that mistake was made by me and I
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  don't want other agents to.
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  To make that same mistake.
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  So while you're here, please light, comment, subscribe, share this episode
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  with your favorite real estate agent, as I truly believe that this episode
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  could save somebody from costing them millions of dollars down the road.
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  And if you wanna level up and you have big goals, and you maybe have
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  that seven figure goal or just a six figure goal, you're just getting
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  started, I would love to chat.
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  About the group that I'm a part of, the exp Wolf Pack, you can always
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  reach me at the link right here, and I would love to have a call with
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  you and see if this is a good fit for you and save you seven figures.
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  So my story goes a lot of you know, That I was a top producer at my dad's brokerage.
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  My dad was a managing broker and I was a top producer anywhere
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  between 900 and 1200 agents.
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  As the market shifted, you know, was kind of the number at, at
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  the previous brokerage, I was top five for the seven outta eight
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  years I was there the eighth year.
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  I was a six month window and I got my license.
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  And they didn't even post the stats at that point, so I was a top producer
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  and I, I thought I had it made.
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  My dad was my boss.
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  He was reviewing my contracts, helping me out with the legal stuff.
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  The truth is, is that I was so narrow minded that, you know, I was paying less.
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  It was my own money.
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  I was keeping all my money, you know, as an agent, and, and I
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  thought that was the best way to go.
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  The truth is, is that when you really step back and think about it, Most agents pay
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  the same amount for all of their business.
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  But what I was missing out on just by not paying into that 80 20 split
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  and $16,000 cap of xp, I was missing out on the opportunity to get
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  that back through the Icon Award.
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  Right?
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  So when you really look at the model and you're a top producer and you're,
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  you have these transactions under your belt, I would've got the icon award.
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  Six outta seven years, you know, prior to, to joining the brokerage.
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  And that's something that's absolutely, you know, amazing when
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  you look back at it in the timeline.
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  I actually, the Icon award wasn't invented in my first two years, so, you know, six
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  outta seven years I would've earned it.
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  So from 2015 when it was created, then I would've started earning that.
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  So I would've actually had.
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  Five Icon Awards more than I have now.
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  Since I did come to the brokerage, I have received two icon awards.
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  So what is that icon award?
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  What does that mean?
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  Just by doing what I do and at my production levels over those
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  years, I would currently be in possession of seven ICON awards.
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  Sure.
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  I'd have seven, you know, pretty glass trophies.
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  I have two.
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  But I also would've been awarded the opportunity to earn
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  $16,000 back in company stock.
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  And that's where the first million comes in.
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  Right.
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  Just by the nature of, you know, that that six figures right there in company
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  stock at cash value, what the stock did over those, the previous years would have
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  been well into the seven figure range based on where I would've gotten the stock
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  and where it went based on, you know, the public knowledge that's out there.
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  I looked to the graph just today to kind of do the math.
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  Absolutely multiple seven figures were lost by not coming over here, paying the
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  80 20 split, getting the $16,000 cap back in the form of an icon award, and watching
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  that stock, you know, produce like it did, that's where the millions were lost.
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  And that's absolutely heartbreaking now that I sit back and I'm like,
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  oh, you know, my goal is to make seven figures in a single year.
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  I would've already done it and I would already have multiple seven figures
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  in stock and, you know, who knows?
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  You can cash it out, you know, vesting periods, all of that.
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  But that's where things really, you know, hit home.
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  It doesn't stop there because after you have, you know, the equity ownership
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  and you're owning your business, instead of renting it like you do at every
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  other single traditional brokerage model, whether it's a cap split model,
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  a split model, or a transaction shop.
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  You are truly renting your business if you do not have equity
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  ownership in the company that you're building the brand for.
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  And, and that's, you know, straight to the heart, right?
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  Millions of dollars left on the table, not just for me, but a ton of top
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  producers, a ton of broker owners across the, the world at this point.
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  So as we, as we move forward onto the next millions, we're talking about rev share.
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  Right.
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  I'm in my second year, you know, just finished, had my two year
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  anniversary, so started my third year.
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  I have 50 agents in my organization.
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  So those people that did end up joining the brokerage and didn't, and you know,
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  that I consulted with, had they had the opportunity and seen what I've seen
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  once the model was fully explained to me, they would've had the opportunity
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  to come on and partner with me and I'd be far past 50 agents in two years.
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  Um, and continuing that piece, earning that passive and residual income.
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  Not to mention, you know, as the early adopters go, you know, those early
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  adopters that really got into it and those top producers that were attracting agents
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  and, and saying, Hey, come look at this.
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  Had had full understanding of the model.
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  Those are the people that have 10, 15,000 agents in their organization right now.
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  And as that grows and as it builds out, and you have seven tiers of compensation
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  based on the company dollar, you know, when they close the deal, you get a little
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  portion that they pay into the company.
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  Everybody's on the same split.
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  The amount that that rev share could have built up in those five to seven years,
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  that I, that I could have been here at this brokerage versus the other one.
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  Is is also a, a pretty harsh number to swallow.
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  And so multiple million dollar figures were, were lost, or the
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  opportunity to earn those was lost.
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  And, and so the exp model, I blame that.
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  Not really.
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  I blame myself for being narrow-minded, not fully understanding the model, not
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  fully understanding the opportunity.
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  The good news is I still, I now am here and I'm reaping the benefits.
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  I'm, I'm able to, you know, step back and see the full, you know,
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  model all the benefits of the model.
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  So now when I'm looking at, I'm like, okay, how can I help other agents see
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  this and how can I help other agents get past, you know, the myths and the
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  things that they think, you know, when they think of exp and, you know, this
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  person tried to, tried to recruit me over here and, and I don't like them.
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  Or, you know, it's pyramid schemer, all of those things that you think.
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  Are absolutely just the lack of knowledge and the lack of
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  you seizing the opportunity.
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  So as we move on, the good news is exp as you know, led by Glenn Sanford,
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  someone who I ultimately respect and have seen speak on stage and, and
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  talk about the company's trajectory.
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  Obviously, where it's been from when he founded it.
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  Back in 2009, but where it's going, it's still technically an
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  early opportunity chance to go.
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  You know exp sits right now at time of this recording, 88,000 agents,
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  then five to six years they'd like to be at 500,000 agents worldwide.
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  The model continues to expand into other countries and providing more
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  and more opportunities to provide this great model, to be a part of this
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  great company in order to not miss out on those six and seven figure.
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  Opportunities that will present themselves, you know, as early
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  adopters either here in the states or you know, super early adopters when
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  we open up new countries as we go.
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  So I just wanted to come on here.
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  Full transparency.
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  And let you know that I chose to, you know, turn a blind eye to this
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  opportunity that will have an effect on my, my career moving forward.
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  My family, we would be in a much different position today.
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  We're definitely not hurting in any position, but we'd be in a different
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  position today had I, you know, fully listened and not turned a blind eye
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  and not just said, oh, I got it.
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  I, I got everything made right?
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  Because the truth is at a transaction brokerage like I was, I don't pay
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  anything in, therefore the brokerage can't provide me with, with many resources,
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  and if they can't provide me with many resources, it's me trying to build this,
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  you know, wealth and, you know, all the things and, and build a retirement
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  and everything as an independent contractor versus having, you know,
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  some of those things with people much smarter than me putting 'em into play.
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  You know, yeah, it cost me a little bit more upfront, but the true
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  cost was, was me not opening my eyes to the, to the opportunity.
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  So if you'd like to chat about that, would love to talk to you about our
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  record breaking group at exp and, and the Wolfpack partner with myself, Mike Shard,
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  Louis Goul, Connor Steinbrook, absolutely changing the game of real estate.
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  Helping agents win every single day at the game of real estate like we do
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  on this channel and in the Wolf Pack.
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  Thanks so much for tuning in, light Comment, subscribe, share this with
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  your favorite real estate agent and let's go get another W today.
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  Bye-bye.