Conversation with Glenn Sanford on eXp Realty – Part II [Real Estate Coaching]

According to Inman, “In a world that is constantly changing, few companies seem as well poised to capture the zeitgeist than eXp Realty.”

EXp Realty at Forefront of Numerous Real Estate Trends

Whether by vision and/or luck and/or timing, eXp Realty has been on the vanguard of real estate industry’s noteworthy trends.  For example,

• eXp was recruiting teams when teams soared in popularity
• eXp had remote-work infrastructure already in place when the pandemic hit and in-person interactions were banned
• eXp had years of experience in operating in virtual worlds, or the metaverse, with its VirBELA platform when, just weeks ago, interest in the metaverse spiked.

Question: What is the one of the biggest mistakes agents often make?

EXp’s EXPCON’s gathering in Las Vegas and virtually with thousands of agents and a variety of celebrities happened this last week.  Here’s Part II of Inman’s Jim Dalrymple’s and Glenn Sanford’s conversation.

Role of Teams

The growth of real estate teams has been dominant for a long time.  eXp Realty has capitalized on this trend from the get-go.

There were seven sessions on team building, team growth, and “perfecting” your team growth/effectiveness within the EXPCOM gathering.  Obviously, eXp believes that real estate teams will continue to be fundamental to agents’ efficacy and success.

Many team leaders who have joined eXp indicated to Inman that moving to this company has enabled them to expand more easily and more cost effectively.

How Much and How Fast Can eXp Grow?

Sanford isn’t shy about his growth expectations for eXp.  This last August Sanford said, “We think that 100,000 agents in the US is almost a fait accompli in the next few years.”

Already, eXp has more than 66,000 agents worldwide.  Sanford mentioned last year that he’d like to achieve an agent count of “multi hundreds of thousands” in 5 – 10 years from now.

EXPCOM had four sessions specifically focused on attracting agents and growing the company’s agent count.

Virtual Worlds and Crypto in eXp’s World?

eXp has been focused on technology from its beginnings.  eXp has also been well-versed in virtual world-building for years per its investment in and well-researched adaptations within its VirBELA platform.  Now that Facebook seemingly “discovered” virtual space, known as the metaverse, a few weeks ago, it’s apparent that eXp, more so than any other real estate company, has much to contribute to the building of “meta” for all companies.

Likewise, it would not be at all surprising if/when eXp Realty includes cryptocurrencies within its transactional/financial model.

eXp and Zillow?

 eXp Realty’s iBuying program called Express Offers remains in place regardless of Zillow’srecent decision to shut down its iBuying program.

EXPCON’s programming last week devoted time to how agents can most effectively utilize Zillow and “What Zillow Taught Us about Lead Conversion” in their respective businesses.  We’ll have more about this soon.

We’ll also have additional information about how eXp Realty’s agent compensation model (currently revenue sharing and stock-based compensation) may evolve.

Thanks to Inman.