Latest / The Real Estate Agent Playbook / EXP Realty Exposed: The Real Story Behind the Myths

Transcript

EXP Realty Exposed: The Real Story Behind the Myths · The Real Estate Agent Playbook

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we're start out by flipping the script
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I've heard so many people talk about
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so many myths that are just simply aren't true
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about experialty from agents don't sell homes
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they only recruit to you know
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EXP Realty has a bad reputation in the industry
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all the way to EXP is a pyramid scheme right
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we've heard all of these these are general
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you know myths
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there's been videos created
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today I'm gonna flip the script and
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talk about how and why these other brokerages
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in these other managing brokers
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and recruiters are talking about this
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and what it means when you flip the script on them
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and what they're actually doing
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so stay tuned
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we're gonna dive into this a different vision of what
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you know these common myths are put out there for
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so can't wait
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what's up guys I'm Jeremy Kane with EXP Realty
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the real estate Agent playbook
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super excited to dive into this one
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because having been on both sides right
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I've only been at EXP for three years
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I want to bring this information to you as you know
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you possibly look at joining EXP or not joining EXP
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or leaving EXP
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let's break this down and talk about exactly
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what this means
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I do talk a ton about the wonderful EXP model
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our group at the Wolfpack
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but I also have so much content on this channel
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on this podcast
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about building your business as an agent organically
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right I've closed over 500 homes
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I've paid for one lead and my entire
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out of all of those that is closed
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and so
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I wanna explain to the general public how I've done it
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and that's what this channel is about
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so if that sounds like something you're interested in
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if it could benefit you um
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in any way
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shape or form please like and comment on this video
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I'd love to know you're out there
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say hi as well as always available to chat with you
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realtor Game plan call link below
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but just wanted to throw that out there
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that's what we do here and I hope you get a win today
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in the game of real estate
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so let's get into this because I am absolutely over um
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having conversations with agents who are like yeah
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I sat down with this
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you know broker and he just talked about you know
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don't you wanna sell homes and not recruit and
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and all of these things the truth is that EXP
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sells more homes than
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any other brokerage in the entire United States right
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so if we're just talking about recruiting
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and it's all about recruiting
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well
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then there would be a model that enforces that right
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at EXP the revenue share model
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which is life changing
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produces an exit strategy for agents
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so agents don't just expire
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they can actually retire right
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it also is willable asset
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and provides a lifestyle
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where you don't have to trade your time for money
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through eternity in your career right
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that's beyond the point
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but there is nothing to the revenue share model
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if homes are not sold I get paid $0
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if I bring an agent in who doesn't sell a home
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and so the truth that EXP doesn't sell houses
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they just recruit is absolutely
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couldn't be further from the truth
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now let's take take this from the brokerage perspective
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what are you doing when you say
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don't you wanna sell homes
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not just recruit agents that person is recruiting you
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that person is trying to take advantage
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and take some of your money to put into their pocket
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whether they're a team lead whether they're a broker
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so the fact that they can sit there and say oh
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you know we actually sell homes of this brokerage
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we don't just recruit agents
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while they're recruiting an agent
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is absolutely asinine to me right
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and so if you really step back and you think about it
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well what are you doing right
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you're sitting here recruiting me
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you want me to make a decision you know
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move my business into your brokerage or to your team
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and usually that comes with paying you some money right
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so it's better to benefit you right
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where at EXP certainly
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I would love for you to come join my organization
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this is the brokerage model
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I have the same split
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I was offered the same equity ownership in the company
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you know based on how I can earn it
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not just here's $100,000 in stock
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bring your whole team over they don't get anything
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but you'll get this when the stock matures right
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we've seen that but everything's the same
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you have the same equity
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ownership opportunities that I have right
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500 homes you've sold zero
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or you've sold 10 or 100 or whatever you sold
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you have the same split as me right
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in fact you can
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you can
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have a production team and change that a little bit
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but they're all based on a cap split model right
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EXP 80 2016 thousand dollar cap
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so we are the same
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the beauty of it is when you do close transactions
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I get a portion of EXP's money not yours
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so as we go everyone's you know
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on an equal commission split
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there's no favors there's no
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you know of these people are 95
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5 because they got the biggest team
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and they got all this
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and then they take 15% from their agents
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and put in their pocket whatever that looks like
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that's not the case
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everything is uniform as it comes to how we earn
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how we can earn in the paths we choose
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so the next time you're out in the community
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and someone says EXP agents don't sell homes
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they recruit whether you're coming here or not
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could you just raise your hand and say well
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EXP sells more homes than
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any brokerage in the United States
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then you can kind of leave
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it at that but make sure that they're not using that
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to recruit you and change your mind on the opportunity
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that's ahead of you
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now let's dive into EXP has a bad reputation
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there is very few of my 500 clients that I have served
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that could tell you the name of my brokerage
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off the top of the hat right
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I've been at two different brokerages
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so it's been fairly consistent
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and there is definitely not you know
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five to 10 people out of those 500 that could say
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oh yeah you're with this brokerage
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and it's probably cause in some way
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shape or form there in the industry
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and they're aware of those things right
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I still legally do everything
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I you know have it on all my advertising
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I still have all that it's not that I'm hiding it
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but they remember how I treat them
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they remember my brand as an agent
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and so if that's the case
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it's like I don't care what brokerage you're at right
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what's it cost me oh nothing
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okay cool right
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I just want
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the service and the leadership that you provide
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for my real estate needs
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and so that's that's the first part of it okay
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I will tell you that EXP is ranked
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among the top brokerages in customer satisfaction
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in agent satisfaction
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agent support and the so called bad reputation
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certainly EXP went through its growing pains
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certainly
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there's things that at this brokerage that could
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be changed just like every single broker
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it's not the perfect brokerage model
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there is no perfect brokerage model
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however the positives far outweigh the negatives
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and that's exactly what people need to understand it
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there's been bad agents at every single company
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and so that's what carries reputation
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and it's not that there's more people
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you know that have bad reputations at DXP
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a lot of it has to do with the first myth
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that we just busted that agents don't sell houses
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they recruit so the bad reputation comes from
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you know a few agents that are just cold calling
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and constantly trying to build a downline
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without any value and not bringing any
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you know difference to the table
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or not bringing any value to that agent
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just saying hey
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come join me and make money
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but that's exactly what every managing broker on
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the planet does
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and is required to do by their franchise agreement
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so as we kind of step back
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there is a ton of different ways to do this
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and the truth is that you know
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kind of the used car salesman piece from real estate
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probably stems from 30 year veteran
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blue haired brokers training on things
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and
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things that were traditional lead generation models
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that worked 30 40
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50 years ago when they were in production
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and not just a managing broker
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you know reading contracts
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and doing things that they don't like to do
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and so at the end of the day
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if you step back
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and you understand that with any innovation
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there's gonna be change EXP leads the way right
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our icon agents at the company PS
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EXP is the first company ever to
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offer the full cap back in company stock
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for meeting certain you know
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volume and side metrics that are absolutely obtainable
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right three time icon agent right here
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earning my entire cat back
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the first 3 years I've been at this company
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but also with that I as a producing agent as a
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you know quote unquote
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top producing agent
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am responsible to give back to the EXP community
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so the icon agents
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the agents are actually in production right now
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are the ones that are out there
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giving the trainings on production
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two agents all over the world
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not just in their small little office
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where I can hold back some things
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because I don't wanna trade secrets and give
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give my competition in my same market
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all the secrets that that doesn't exist um
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within the brokerage model VXP because we are global
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but also because we operate out of a
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you know innovative mindset of abundance so um
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certainly the bad reputation piece
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you can have a bad agent at any company
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and there is no more bad agents or less bad agents
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percentage wise at EXP than any other brokerage
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and finally the big one EXP is a pyramid scheme
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certainly
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EXP has a model of growth that does incentivize
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agents to you know
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bring people into the company
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all that is is taking out the recruiting piece
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the overhead of recruiters
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that every single franchise model has
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I get 10 to 15 calls a day
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from people who are on salary typically
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that are saying hey
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this broker wants to talk to you right
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they just find a list on the internet
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they scrape it
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they add phone numbers to it and they just call right
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because at some point this employee is being rewarded
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or the broker is being rewarded
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for bringing people into the company
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so they pay a recruiter or a cold caller to do this
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right so if you're calling EXP a pyramid scheme
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let's step back I don't care what brokerage you're at
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if you are at a brokerage that you know
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has been around forever
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that's the face of real estate in your area
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I don't care if it's you know
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Iron Valley and Pennsylvania
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Remax globally kw and you know
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the foothills whatever it is
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if you look at those franchise
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traditional brick and mortar models
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typically there's an ownership group at the top right
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and then you have regional ownership next
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and then
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a little bit bigger group is the local ownership
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the franchisees right
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and then you have the agents
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right sometimes there's employees
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between the franchisees and the agents
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truth be told the biggest group is the agents right
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then the employees then the
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you know franchisees are the local ownership
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then the regional ownership
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then the owners right
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that is a perfect pyramid at EXP
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there is the ownership right
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and then there's the agents
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you know there are some employees in the middle
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but the largest group is definitely the agents
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but it's just two groups there isn't a bunch of
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you know employees
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a ton of employers 2,000 employees across the world
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right in the middle there
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however there's not headhunters
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there's not anything else
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they've been able to get rid of a ton of overhead
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when it comes to recruiting
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and brick and mortar offices
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and give that back to the agents
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in the form of revenue share
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so as a company
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that is constantly being called a pyramid scheme
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which a pyramid scheme means that agents below
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you have to pay in and do that
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which is illegal
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so technically it can't even be a pyramid scheme
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but if we're just talking about the pyramid in shape
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you absolutely see that in every brick and mortar
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every franchise model out there
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so the next time someone asks you
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you know well
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do you wanna be a part of a pyramid scheme
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do you wanna sell houses or recruit agents right
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so they kind of go through that
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just ask them to dry out their hierarchy of ownership
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and how their structure flows as
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you know a brokerage
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and I guarantee you if you want to draw it out
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ours looks like I don't know
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a couple shipping containers
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and theirs looks like a pyramid
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so these are
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the things that I really just wanted to bring across
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because as EXP
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the bigger picture is that EXP is just challenging
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the traditional brokerage model
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and if it didn't work
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there wouldn't be a startup opening every single week
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that's made
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that's built off of the framework of the XP
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so if you're at one of these hot new brokerages
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it's gonna be better than EXP
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understand that they take EXP's model
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they change and tweak
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a couple things that they think they can work
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and then as they get bigger as they grow
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they start to form more and more into what EXP
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really is right
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and so certainly if you're
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you're looking at a brokerage
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looking at a cloud based brokerage
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I would love to talk to you and tell you hands down
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why EXP is the leading innovator
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why they were the leading disruptor
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and what each and every single one of these models is
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trying to do but eventually will become
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based on where we've seen the industry go
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so in here's the deal it's not too late
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because these startups are coming over every
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you know every single day
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they're trying to find that secret potion
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none of them
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are even close to the trajectory of growth that EXP
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has had and will continue to sustain
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so I hope this helps um break some of those myths
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the truth is it I made a decision to come to EXP
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lead my dad's brokerages best decision in my career
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certainly it's not for everyone
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but I would argue it's for most people
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when explained right when you take advantage
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of the multiple different perks that there are right
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it's not just one thing
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there's multiple different things
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it could be needing health insurance
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it could be access to KV core
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it could be you know
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revenue share for the exit strategy
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could be equity ownership
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so you're not renting your business you're owning it
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but it doesn't have to be all of those things
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and I think that that's what we ultimately do
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is when we're talking about this fear like oh
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it has to be everything or you know
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nothing this is all the things that are wrong
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but we're not touching on the things that actually
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will draw your interest in
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as an agent so I hope that helps
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please like comment subscribe
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throw me your your comments below
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whether they're positive or negative
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I love to chat with with you
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and I will tell you that there is many
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many amazing brokerages out there
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and it's just about finding the right fit for you
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as an agent for your business and your strategies
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so please like comment subscribe
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we'll talk to you next time bye bye