Chris Highland - with EXP Realty in Maryland

 

Category Archives: eXp Realty

The Brokerage of My Dreams

The Brokerage of My Dreams

If I Could Create A Brokerage Today…

The brokerage model hasn’t been adequately challenged since 1906. There is still a semi-adversarial relationship between the broker and the agent competing for a bigger piece of the pie. It’s a very good time to consider a paradigm shift in the broker/agent dynamic.

Support for Agents

The ideal brokerage would first provide an effective self-assessment of your skills and temperament so that you can be most effective in your strengths and also know which areas you need to seek assistance or outsourcing.

This dream brokerage would diminish the competing interests of the broker as well as the other agents thereby creating a collaborative environment in which many more can thrive. A “1099” or competitive self-employed environment is one of the most cut-throat in which to succeed.

The broker should provide clear strategies, whether online or off, to develop massive lead generation and conversion machines. A brokerage should encourage and provide training in business development as well as in technical and legal matters regarding real estate. A team approach and/or agent equity may be effective in minimizing competing interests.

Many agents are led to believe the brand is a strong motivator for consumers to work with you. The truth, as I see it, is that YOU make the brand. In today’s marketplace, most often consumers are drawn to you, because of your reputation as an agent and/or the information you provide to them. (websites, blogs, community information, listings, etc.) These resources are available to all, without the need for a big brand. Never lose sight of the fact that YOU are the brand. People work with you because they know You, like You, and trust You.

Professionalism in the Real Estate Industry

Look for direct access to either an experienced, ethical broker or manager, for necessary consultations. Affiliation with a company that has a tarnished reputation will certainly diminish your personal brand.

On that note, a brokerage should allow and support you in co-branding, and developing your own brand alongside the company, should you ever leave. Lacking this, you are essentially building someone else’s equity at your own expense. It’s like renovating a home you’re renting. In the span of a career, many agents affiliate with more than one brokerage. When you build your own brand, investing in your own tools, you can take all your assets with you wherever you go.

Compensation for Real Estate Agents

Equitable commission splits are more a function of the services being provided. For example, if the broker is the rainmaker and you are focused on serving the client and closing the transaction, then that merits a greater portion of the commission. Otherwise, if you as the agent are developing your own business, you should get a bigger piece, as you are laying out the resources to acquire the business.

The ideal brokerage would provide effective retirement options, so agents aren’t only as good as their last deal. The agents who are most successful in providing an exit strategy for themselves usually do so by building a business through teams. But not everyone has the skill set to do that. There are many agents who are great agents, do a great job for their clients, but don’t build large teams. Some don’t even want to. A retirement strategy is something everyone would like, no matter where they see themselves in the industry.

After 32+ years in the real estate business, we believe we’ve found that dream brokerage. We invite you to check out eXp Realty.

eXp Realty’s Continued Triumph: Record-Breaking in 2023

eXp Realty’s Continued Triumph: Record-Breaking in 2023

Celebrating Success in 2023 In the dynamic world of real estate, success is measured not only by the number of homes sold but also by the impact a brokerage has on its agents and clients. In 2023, eXp Realty once again demonstrated its prowess by leading more people into their dream homes than any other… Continue Reading

eXp Realty Operates in 24 Countries (as of today!)

eXp Realty Operates in 24 Countries (as of today!)

eXp Realty pioneered remote work long before it became a trend in many industries. This is what helped eXp expand to many countries during the Pandemic. We saw a phenomenal global reach during that time, and as of January 2024, eXp Realty operates in 24 countries, with nearly 90,000 agents. United States, 2009 Canada, 2019… Continue Reading

Revenue Sharing at eXp Realty – A Brief Synopsis

Revenue Sharing at eXp Realty – A Brief Synopsis

Revenue Share Compensation at eXp Realty eXp Realty’s revenue sharing program is a unique feature that differentiates it from traditional real estate brokerages. It is a part of the overall compensation structure of eXp. Since it is not common for a real estate brokerage to offer a part of the company’s revenue to the agents,… Continue Reading

Updates from the 2023 eXp Shareholder Summit

Updates from the 2023 eXp Shareholder Summit

More News from eXp Realty Military Rewards Program eXp Honor military Rewards, affiliated with eXp Revenos, is a military moving services programto better serve active duty and veteran armed forces members and their families. It offers savings and resources to simplify a military move. In addition to helping military families buy and sell homes, eXp… Continue Reading

EXP Realty Revenue Share – Is it Sustainable?

EXP Realty Revenue Share – Is it Sustainable?

The revenue sharing aspect of the eXp Realty business model has drawn a lot of attention, both positive and negative. Critics have been pointing out what they deem as weaknesses in the business model. There is admittedly, a lot of misunderstanding surround this particular pillar of the compensation model at eXp. It certainly is something… Continue Reading

eXp Realty ICON Agent Award

eXp Realty has an amazing award for top producing agents…and it’s not a paper certificate, or even an engraved plaque! It’s worth eminently more. It is worth potential tens of thousands of dollars. This award is called the ICON Award. The eXp Realty ICON Agent Award currently provides each qualified ICON agent with up to… Continue Reading

There is a Reason for eXp Realty’s Record-Breaking Ranking

There is a Reason for eXp Realty’s Record-Breaking Ranking

THIS JUST IN! eXp Realty Dominates In 2022 Industry Rankings eXp Realty gained considerable recognition for our record results, rapid growth and strong leadership in 2022. In a year where real estate sales was disrupted by rising interest rates, decreased sales volume and terribly low inventory, most real estate companies experienced contraction…fewer sales, less revenue,… Continue Reading