Does anyone have experience or thoughts on Exp?

Question

Just passed my NJ exam - thoughts on the real estate company Exp?

Thanks

Shawn Mcenteer · Answer

@Bruce Lynn we at EXP are face to face in person, we just do not pay for it like most agents do at traditional brokerages. Your comment is sort of like saying "you can't stream movies direct to your home, you really need to be in the aisle at the store to pick out the best film"

@Robert Anderson I started my journey at Weichert over 8 years ago, moved my licensed to KW for 3 years and about 3 years ago moved my licenses to EXP.  It has hands down changed my life.  I used to say its not for everyone EXP and it may not be for all but for me especially having an investors mindset the math around EXP is undeniable and the value add blows the other brokerages I was at away.  Long story short EXP is not for everyone but neither are smartphones...

Marian Huish · Answer

Congratulations on passing your real estate exam @Robert Anderson!  I've been with eXp for 4 years and am licensed & active in 4 States-  after working with a 'bricks. and mortar' brokerage in the Washington DC Metro area for 15 years, I can tell you is that what I love best about eXp Realty is that it's allowed me to 'scale' by growing the number of agents in my organization that I can rely on to assist or work with on a referral basis that extends way beyond the Washington DC metro area.  I can effectively grow my 'team' throughout all 50 states and across 20 countries without being responsible for training & managing those agents- and I get paid a 'referral' by eXp on the sales of those agents as a 'reward' for bringing them into the company.  While I'm sure this isn't so important to you at this early stage in your career but it's certainly nice to have in building a passive revenue stream and as well as accumulate a sizable stock account just from selling real estate.   As a new agent to eXp, it's important to select a sponsor that you know, like and trust and who will assist you in building your own real estate business.... and while this person does not need to be local to you, it IS important to select a local mentor to work with on your first 3 transactions and to attend all the local training which is available to you in eXp World ... which currently offers over 50 hours of training per week.  And, if you haven't already been offered a 'guest pass' to check it out and attend some of this training in advance of making your decision, I'm happy to arrange this for you.   While you should find plenty of 'chatter' on BP about eXp, I'm happy to answer any specific questions you may have.  Best of luck in your decision!

Maria Afsharian · Answer

I am with EXP now in Montclair. I like it but miss the office sometimes and being with other agents face to face. I received outstanding training from Prominent Properties Sotheby's - but unfortunately, because they are so strict on branding I decided to move. EXP is very hands-off but has lots and lots of educational opportunities. But I would go to a traditional brokerage vs a virtual one, as a new agent. My opinion. My only advice, put you blinders on, don't get caught up in any subscriptions, gimmicks, or shiny things. Focus on your systems, focus on your systems, focus on your systems = CRM, Sphere of Influence, Scripts, Forms, Follow Up.

Martha Nowlan · Answer

@Robert Anderson I'm also in Vermont and have had my license about 4.5 years. I was with KW and just switched to eXp. I was feeling less and less connected to the culture of the local KW market center and felt like I needed to surround myself with different people and grow in a different direction.One thing I love about eXp is that you can choose your culture by being intentional about your sponsor and the revenue share group you join. The culture of your immediate mentors and training opportunities and other resources doesn't have to just come from whatever local agents are at the local brokerage or franchise you join--you can choose that from anywhere in the country depending on who you partner with. There are plenty of other reasons, yet that is what I found so appealing about eXp.

There is no right answer about the best brokerage to join. It depends on so many things. As a new agent, are you going to be full time, part time? Are you doing independent or joining a team? Why are you interested in being an agent? What culture are you looking for? How much do you need your hand held vs being self motivated? Do you want to be hyper local or do you want to be learning tips and tricks from other national players?

Happy to connect with you more 1:1 and give my insights based on your personal goals.

Sherrill Gossett · Answer

I quit John L Scott here in Washington State and moved over to eXP.  John L Scott had a reasonable training program, and it lasted several weeks.  It was fairly immersive, and covered a lot of different things.  They even try to teach you about negotiation (through pre-recorded videos,  not the best way IMO).  eXP is pretty cool because it's cloud-based.  They start you with a mentor for your first 5 deals, then you're on your own.  Or, you join a team.  eXP currently has a lower cap rate than some of the other brokerages here, in Seattle.  They have a lot of teams, too, and depending on how your team leader/managing broker runs things, they can go in any direction.  eXP seems to be all about the recruiting, too.  I'm sure this is great if you're all about just getting people to sign up for something, and pay money for, but everything real estate related that has to do with actual person-to-person negotiation and sales is not taught by a company.

Personally, I like eXP because for the most part I make my own schedule, pay for my own leads (the team that I was on paid for leads, before), and am only accountable to myself, creating my own business structure to follow.

Bruce Lynn · Answer

One thing I say is real estate is a contact sport.   In face, person to person.  Sure you can do some things virtually and some things on the phone, but at some point 90% of the people need some kind of in person contact, so be careful with companies that pitch 100% virtual.  If you look at education studies for example, most adults learn best in person with live training, so make sure whatever brokerage you join has a good amount of in person training.  Probably all brokerages have plenty of online training, but that probably should be the supplement, not the primary type of training for new agents.

Three questions I suggest you ask any brokerage is #1 to see the training room.  No training room, then you have to question how serious they are about training.  #2 Ask to see the training calendar.....again no calendar, you have to question how serious they are about training.  #3 ask how much the training costs if anything.

Look at several companies and see which one is the best fit for you.   Ask the brokerages you interview what the shortfalls of the other brokerages are and see what they say.

Jake Handler · Answer

If you agree that a realtor who has never invested is probably not the best agent for an investor, then you probably agree that a realtor who has not worked at multiple brokerages would probably not be the best agent to answer this question.

Robert Anderson · Answer

I appreciate your input. In the beginning, I will be part-time. I would like a collaborative culture locally and to be involved with the larger national picture as I gain experience. I feel that a mentor - early on - is essential, but I am definitely a motivated go-getter once I know how things work.

Peter Cahill · Answer

@Robert Anderson I'm a newer agent in Vermont and work with eXp.  My first six months in the biz were with a small, successful local brokerage.  It lacked training opportunities, communication, lead generation, etc.  My friend introduced me to someone that had just joined eXp and long story short, after a bunch of research and a few conversations, I joined up.

I was provided with a mentor and within the first three months, I closed 4 deals on the buy side and closed my first listing.  I am not a part of a traditional "team" but I work closely with a collective of local eXp agents, we help each other with showings when people go out of town, meet in person monthly to discuss what's going on, and chat almost daily via eXp's provided Workplace platform.

I could go on about all the training opportunities, virtual campus, support, tech, and so on, but you've probably heard about that already.  I also own a property management and handyman business, so eXp is a great fit, because I can work at my pace, train on our virtual platform any hour of any day, and have the support I need at my fingertips, without being a slave to an office.

For me, the biggest driver was supported independence and the opportunity for multiple revenue streams thru the 80/20 commission, revenue share, and stock options.  Happy to chat more if you'd like.

Cole Simpson · Answer

I am a exp agent, I love how basically you make more money doing the same amount of work. I will say you need training so it could be good to join a team

Does anyone have experience or thoughts on Exp?

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