More and more top firms and teams are making the move to eXp Realty.
eXp Realty’s Agent Pool and Bottom Line Growing
Just this year, the cloud-based, office-less eXp Realty has attracted several high profile, influential teams and companies to its international brokerage. Among some of these real estate teams and firms, but not limited to, are Washington DC’s The Lahey Group, the Salt Lake City based Perry Group formerly with Keller Williams, Revelation Real Estate based in Phoenix AZ with nearly 900 agents, and, most recently, Houston’s fast-growing independent Abby Realty with over 470 agents.
All of these and more eXp newbies will join the more than 68,000 practicing agents already a part of eXp’s international family of agents. Such rapid agent growth merely underlines and makes viable eXp founder Glenn Sanford’s recently announced prediction that this agent-centric, tech-enabled company will have 500,000 agents on-board within 5 years.
Question: What is the one of the biggest mistakes agents often make?
Likewise, eXp’s latest November 3 earnings call reported the company’s sixth consecutive record-breaking quarter. The company announced it had generated $1.1B in revenue, a +97% increase y/y.
eXp’s “Borderless” Ownership Structure Appeals to Agents
Because eXp Realty is cloud-based and office-less, agents and firms are attracted to its “borderless” ownership structure. Such a structure facilitates rapid expansion of teams and companies. This ownership structure also offers agents, teams and companies a stronger sense of independence than traditional brokerages.
Technology and Online Training/Events Appeal to Agents
The basis of eXp’s tech-centricity is its well-developed VirBela platform. VirBELA builds virtual worlds that connect business and in-person experiences to life online. The platform brings together people from anywhere in the world to work, train, learn and meet in a totally immersive world.
VirBela is actually the first virtual world platform built specifically to meet and solve the challenges of remote work and collaboration. Trainings, classes, events, meetings and servicing entire remote workforces are all made possible with VirBELA’s immersive and engaging 3D world.
Additionally, eXp offers kvCORE and its enterprise version of Breakthrough Broker, systems many agents/firms already use.
Additional Revenue Streams for eXp Agents Are Appealing to Agents
eXp Realty offers additional revenue streams for agents, such as revenue streams generated by sponsoring new agents into eXp.
Frank Gray, founder of Houston’s Abby Realty that recently joined eXp, said, “As a small independent brokerage, I (couldn’t) give (Abby’s some 470 agents) ownership in my company, I can’t share revenues, there simply isn’t enough to go around.” But now, all those former Abby agents who join eXp Realty will have opportunities for additional ownership revenue streams.
Access to Worldwide Top Agents and Resources Appealing to Agents
On top of all the above appealing attractions to eXp Realty, Gray said, “I love the idea of being connected to top agents and top team leaders all overt the country (and the world.) They’re welcoming us to the family and showing us (eXp’s) a helping culture.”
Thanks to Inman.
