Building a Real Estate Business
Many real estate agents learn to sell real estate in a transactional mindset, vs. a relational mindset. The difference between the two, is probably evident in the terms. A relational model of business means that agents build a personal relationship with each client. The hope is that the relationship leads to a client for life, as well as referrals. A transactional model is obviously lacking the relational aspect and focused on just the business of getting the client to closing.
However you choose to build your business, if you are in business, your main business is lead generation. Without people who need your services, you have no business.
Lead generation requires tools. eXp Realty (the largest independently owned brokerage in the world) has a plethora of tools. eXp Realty has training on every aspect of the business. The resources are astounding!
eXp Realty is the Best Place to Build a Business (IMHO)
The truth is, you can build a successful real estate business anywhere, at any brokerage. In today’s real estate environment, agents find that resources to help them build their businesses are abundant: coaching and training, technology, paid lead sources, marketing resources, and organization tools.
There seems to be an unlimited number of companies who have something to offer real estate agents to help them with their businesses. If you’ve been in business for a while, you’ve seen the number of solicitations in your email increase with each passing year.
(For many years Karen and I have joked, “if you want to get rich, don’t be a real estate agent, just sell something to agents that promises to increase their business!”)
But why pay for resources, when your company gives them to you for free? (or for the cost of $85 a month, if you want to get technical)
eXp Realty is an Entirely Different Business Model
eXp Realty is the first of it’s kind…a company that gives agents ownership. Instead of a paper certificate, or even an engraved plaque to celebrate an agent’s accomplishment, eXp Realty gives stock. That’s a certificate that doesn’t hang on a wall, but certainly keeps giving.
eXp Realty also gives to agents who help grow the company in the form of Revenue Share. You can think of it as getting a small referral check every time an agent you sponsor, and those whom they have sponsored, does a transaction. This small referral continues to the seventh level. You sponsor an agent, they sponsor an agent, they sponsor an agent….etc. to the seventh level. As you personally sponsor more agents, a bonus is opened up at each level.
This is passive income, a “thank you” from eXp Realty for helping to grow the company.
There are agents we know personally who have 5,000, 9,000 and even 20,000 agents on their seven levels. These agents who have been successful at growing their team are making six-and even seven-figure passive incomes each month. This is how you build a legacy!
What is a Legacy?
Success is one thing. A lot of agents are successful. But are you leaving a legacy?
One aspect of real estate sales that attracts people is that there is no income ceiling. When I talk to agents about their goals income is often a large part. The discussion revolves around income goals, how may deals you have to make to earn that income goal. That’s OK – we all should have goals.
To really leave a legacy, you need to have other sources of income. Sources that provide income without doing the same thing every year, income produced without additional work or time. You see, a person needs at least seven streams of income to achieve the kind of success that will leave a legacy.
If you keep doing the same thing then, every January 1st you start from scratch to achieve your goal.
Truthfully, most agents don’t make enough to invest very much. NAR members’ self-reported median gross income is: $43,330 for all members, who have an average experience level of 8 years and $75,000 with 16 years of experience or more.
Residual income is the key to a successful exit strategy. At some point, I want to stop working…or at least slow down.
eXp is the Best Place to Build a Legacy
To build a legacy means different things to different people. Someone recently shared that to them, it meant that their great-grandchildren will have their picture hanging on the wall.
That spoke volumes to me. To make a difference in the world, so that your great-grandchildren know who you were and what you did, and cherished your memory because of it. Wow!
eXp Realty has all the resources to build a great business. Resources to help agents grow their revenue team. Revenue sharing at eXp Realty is just what it sound like…sharing in the revenue of the company. Notice, this is not profit, which comes after all the expenses, but revenue…off the top.
Revenue Share is real money. Revenue Share is sustainable.
This small snapshot is just a sample of the revenue I have received from eXp Realty, for my help in growing the company.
Each line reflects income I receive from those that teamed up with me. Revenue share is like getting dozens and dozens of referral checks from the company each month. Every year. It grows as your team grows.
This residual resets every month, every year and it will be part of the legacy Karen and I leave behind.
Would passive income make a different in your life? Are you someone who is enthusiastic about selling real estate and enjoys building relationships? Are you looking for ownership? Join me in this revolutionary company!
If want to learn more feel free to reach out to me. Let’s have an honest, no pressure conversation. I had one with with my sponsor seven years ago, and it was the smartest business move I’ve made in 30+ years. Contact Me, or call 301-401-5119.
About eXp World Holdings, Inc.
eXp World Holdings, Inc. (Nasdaq: EXPI) is the holding company for eXp Realty®, Virbela and SUCCESS® Enterprises.
eXp Realty is the fastest-growing real estate company in the world with more than 84,000 agents in the United States, Canada, and 20+ other countries. As a publicly traded company, eXp World Holdings provides real estate professionals the unique opportunity to earn equity awards for production goals and contributions to overall company growth. eXp World Holdings and its businesses offer a full suite of brokerage and real estate tech solutions, including its innovative residential and commercial brokerage model, professional services, collaborative tools and personal development. The cloud-based brokerage is powered by Virbela, an immersive 3D platform that is deeply social and collaborative, enabling agents to be more connected and productive. SUCCESS® Enterprises, anchored by SUCCESS® magazine and its related media properties, was established in 1897 and is a leading personal and professional development brand and publication.
For more information, visit https://expworldholdings.com.
This blog post is not a communication from eXp Realty, but a personal opinion.