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Updated almost 2 years ago, 03/22/2023
eXp vs. Boutique for a new agent
Hey all,
I just passed my licensing exams for the state of KY and am trying to decide which broker I should hang my license with.
A bit of a unique situation because i've had the opportunity to intern with an eXp team in LA for the last 6 months who's production is in the top 1.5% nationwide.
I'd love to join the team because theyre great to work with and the value is unmatched. However; I'm having trouble determining if it's still in my best interest considering that I'll be moving across the country to KY in the beginning of March which means i'll be a solo agent with the rest of my team in California.
After interviewing with several brokerages in town I've now narrowed it down to signing on with the eXp team vs. a local high producing boutique.
I understand that the two are drastically different but having no real experience as an agent i'm finding it difficult to determine if I'll get more value & be able to scale faster while learning directly from the eXp team which seems like a great way to stand out in my small KY market considering that i'll be able to keep up with what's working in LA before my market responds to a change a year or two later.
Heres a quick rundown on how the numbers stack up:
eXp: Boutique:
Split: - 75/25 ($8,000 cap) - 75/25 ($12,000 Cap)
CRM: -Follow-up Boss Provided - Not Provided
Mentor: - Assigned for 1st 3 transactions for an - Assigned at will, mentor receives 5% of the broker's cut
extra 20%
Tools provided: - Breakthrough broker, eXp suite - Docusign
Fee: - $50/Month Desk fee ($600/yr) - $85/Month Cloud brokerage fee ($1,020)
Transaction Coordinator: - Yes - No
Floor time/Phone duty: - No - No
The boutique doesn't really provide any training & only has meetings every other thursday due to all of the agents being a bit older & having been in the business for years but they do seem to have a good mentorship program where I can be assigned directly to one of them who's a top producer in our market.
What would you deem more important in this given scenario?
The local support that the boutique has to offer OR the amazing training & virtual support offered with a top 1.5% exp team???
TIA