All Forum Posts by: Joesph McGillis

@Charlie Cameron Thank you for those additional details Charlie!

Kalil, are you paying an additional 25-50% to a "Team Leader" on a self-organized team, standard or mega team on top of your split to eXp?

If not, is this big group your mentioning just a forum that work with?

I posted this question to another eXp agent's website but curious on hearing thoughts from the folks on this thread.  

a quick sidebar:  Thank you to everyone on this thread who has helped me weigh my decision even if it's 6 months after the last post!  Goes to show how valuable forums like this really are.  Okay...so here's the question.

If you're thinking about joining eXp do you have to join a team?  I'm seeing the following numbers if you join someone's team...

If not, do you just pay the higher split for the first three deals then remain at 80/20 as an independent agent?

I’m not sure I see the value in joining a team. Does everyone you recruit automatically become a member of your standard team?

Let’s look at this at little closer pre-cap:

SELF-ORGANIZED TEAM

$10,000 Commision
50/50 split with Team Leader
= $5,000 for the agent before
20% to eXp
= $4,000 TOTAL

40% of the total commission to the agent. Yikes

STANDARD TEAM / MEGA TEAM

$10,000 commission
75/25 split with team leader
= $7,500 to the agent before
20% to eXp
= $6,000 total

60% of total commission to the agent. A little better and closer to standard brokerage but begs the question as to why an agent would join a Team Leader under a self-organized model instead of the Standard / Mega team model?  I'd prefer to join and not be paying an additional anything to anyone.

I’d love to hear your thoughts on this. I’m considering eXp but if it’s not actually an 80/20 split and you have to give up an additional 25% to a “team leader” then I may prefer to go with a 70/30 split being offered a more traditional brokerage with comparable fees. 

The extra 10%, the virtual network and the possibility of recruiting are appealing but not if I will not actually see 80/20 and also not if the folks I recruit will never see it either.

@Kobe Xin Thank you for the clarification on eXp.

@Joseph Cacciapaglia Thank you Joseph. I will definitely look more into this option. 

I appreciate the replies! 

Hi Folks,

Thank you in advance for taking the time to share your perspective and wisdom.

I’ll be taking the PA licensing exam just as soon as things open back up.

A brief note on my background. I have 15 years of experience as an entrepreneur and a great network in the Pittsburgh area.

What is the best brokerage for a new real estate agent that wants to build their own brand? I don’t mean build my own brokerage or use a formulaic website provided by that brokerage. I’m looking for a brokerage that I’ll have the freedom within to build my own website and personalized brand with the backing of that brokerage (of course while including their logo prominently and abiding by all state laws). I would also prefer to identify and advertise to areas of my choosing within the city. I’ll be aiming at 500k and up properties within the city and eventually a few select suburbs.

Which brokerage is best in general for this approach? Obviously, I’ll have to speak to local offices so any insight there based on your experiences would be helpful.

Here are a few that I’ve researched and I’m currently considering:

Re/Max - seems to check a lot of the desired boxes. splits negotiated with local offices. Anyone have experience with them locally as an agent or otherwise?

Keller Williams - commissions seem to vary wildly depending on office and territory. there education opportunities are impressive but then again much of this information is available elsewhere. Their brand and structure seems to be in need of a refresh.

eXp - not much name recognition in the area but that doesn’t necessarily rule them out for me. the virtual brokerage also doesn’t bother me as I will not require a ton of guidance and hand holding. The brand itself, as in the color scheme, is atrocious. first few deals will be closer to 60/40 split but then 80/20 after until cap.

Coldwell Banker or Century 21 - splits negotiated with local offices. solid brand. do they allow agents to build personalized websites? 

Both eXp and Keller Williams seem to be heavily into recruiting. I’m not really interested in devoting much time to that. I’m here to offer a unique background and approach to buying and selling houses.

Any other options you would suggest? Again, keeping in mind that I will not need months of education to make my first few deals, I plan to aim at taking market share of 500k plus in select areas, already have the network in those areas, and I have contacts with lenders and vendors.

So what national brokerage brand, local brokerage or virtual brokerage would you suggest for a new agent that is educated in business and experienced with real estate? 

Thank you for taking the time to read and share your thoughts. Let me know if you have any questions that would help you to share your perspective.

Best

J