A 50/50 split on a team that provides leads is better than a 0/0 split if you can't close on your own. I've been with EXP for 5 months and as a new agent I can honestly say EXP has its good and its bad just like anywhere. I believe the pros outweigh the cons but the cons are real and they can set you back.
If you're a new agent that is driven, has a business plan, and is willing to do the hard work then EXP might be good for you. Being on a team will help but you still have to do the work. The road is bumpy and if you have the mindset that you're going to succeed no matter what, and you're willing to go MONTHS of working everyday for free until you get that first commission, then you're golden. It doesn't matter what brokerage you choose you're going to make it happen.
On the flipside if you have zero experience in real estate at all, never even bought a condo, and you want more human-human 1:1 training then you will have to be more careful with who you join with at EXP. Or select a brokerage that offers more help. IMO one of the cons of EXP is the "mentorship" program. It sounds great on the surface, it sounds like you're getting a "Mentor". Unfortunately that is not the case, what you get is someone to help you through your first three transactions, and that is FAR from mentorship. It takes a lot of work to get that first deal so you would think that's a great time to have a mentor, someone to take you under their wing, show you the ropes. Nope that's not what the mentorship program is at EXP, it's help with the first three deals and THATS IT.
The good news, if this is your case, is that EXP lets you choose your mentor so my advice is CHOOSE WISELY! Interview as many as you can and ask them how they can help you. Many Mentors offer great service and help to their mentees. Weekly calls, accountability, coaching, etc. Some Mentors really wear the badge well and help new agents way beyond what the bare minimum "first three transactions" is. Unfortunately for me I ended up with a mentor that is no help whatsoever, I haven't talked to him in MONTHS!
Which reminds me: As a new agent don't buy the "50 hours of live training in the cloud". It's BS, it's not training in any helpful way to a NEW AGENT, if you're experienced I'm sure it's great but it's not training. I'm from the old school that training meant sitting down and going through some sort of testing, data entry, running though scenarios etc, with an instructor to learn something. There is some of that but it's nowhere near 50 hours that they claim.
Really what you get is 50 hours of presentations, masterminds, and agents sharing tips for how they operate their business. I used to sign up for a lot of these trainings but they really didn't help me grow as an agent when I was new. The time I used to spend in these trainings are now spent on cold calling, networking, and doing the hard work of building this business.
RE Sales is something I never thought I would do and now I can't imagine doing anything else. EXP, warts and all, is the best brokerage in the business. Nobody else can offer what EXP can when it comes to the real reason we do this and that's making money! When 2/3 of the income streams are passive and they give you the option to actually RETIRE someday, it's just a no-brainer.
I hoped that helped you new agents out there trying to decide where to hang your hat. Cheers!
