the agent-owned cloud brokerage™
the agent-owned cloud brokerage™
My name is Erinn Nobel and this is eXp Realty's Online Cloud-Brokerage.
The first time I visited eXp’s Cloud-Office in 2014, I was skeptical to say the least. It was like I had landed in some corporate version of Sims 2, except that two years ago the technology was new and a lot of people still had square heads. I stumbled around with the arrow keys for a bit, got lost behind a virtual bush, panicked, and then quickly logged off. How in the world was this supposed to help my Real Estate business?
I stuck it out, because my friend Debbie couldn’t stop talking about it. She and I go a long way back – we started in real estate in 1999 at John L Scott, a Washington-based franchise serving the Pacific Northwest. A year later I joined a largely successful boutique brokerage, The Muljat Group, for a more collaborative office environment, while Debbie moved on to a thriving career with Windermere Real Estate – one of the most renowned real estate companies in the Western United States. Around 2010 though, everything about Real Estate was changing: the explosion of mobile applications, social media, CRM software, and inbound marketing practices - technology was quickly revolutionizing the industry. Clients more and more were asking, expecting even for Real Estate services to accommodate their technology needs. I found myself constantly searching for inspiration, guidance, and the right tech applications to enhance my business. No matter what I seemed to do though I couldn’t climb ahead of the curve. I spent hours of spare time battling to stay current, and it was cutting in to my time with customers.
How a Cup of Coffee Changed My Career
In 2014, I met with Debbie for coffee and she was ecstatic. She started telling me about this huge learning opportunity she was having with a cutting-edge brokerage, eXp Realty, that built their office space online in order to strengthen agent-collaboration on a national scale, while offering the most effective revenue-sharing model in the industry. She said it was the most innovative real estate company she’d ever seen. She called it the brokerage of the future.
Why eXp’s Cloud-Office is Shaking the Industry
I was intrigued to say the least. Debbie offered to set me up for a meeting with the Founder and CEO Glenn Sanford. After my first failed attempt at navigating the online office on my own, I logged back in – this time for a guided tour with Glenn.
Glenn showed me how to work the navigation controls (which turned out not to be difficult at all!), led me to a map of the cloud-campus, and did it all while chatting with me in a virtual/face-to-face kind of way. It was like nothing I’d ever experienced. He showed me around to rooftop conference rooms, private offices with screen sharing compatibility, an entire building filled with specialists from different states who were available to support agents, an auditorium, beachside tables. I found people from Washington, Florida, and Texas sharing tips together in the same room. I found agents from Massachusetts leading workshops for other agents across the country. People were excited. They were having fun, and they were working together to improve their businesses from all over the country. It was like nothing I’d ever experienced. I spent a week exploring the cloud-campus and learned more from other agents than I had in months. The possibilities for improving my business were overwhelming. I joined the company that October and I never looked back.
The Most Aggressive Revenue-Sharing Model in the Industry.
I never knew how much the traditional brick-and-mortar model was inhibiting my profitability in Real Estate until I discovered eXp Realty. I’d always assumed a physical office was necessary, but the more I began to think about it the more I realized that all a physical office really provided me was 45-minute commute to work. Nothing about my real estate business – the clientele meetings, staff meetings, lead generation, marketing, showings, paperwork – absolutely none of it required a physical office space. Much of the time spent traveling to work actually detracted from my time spent with clients. Traditional real estate companies pay colossal amounts of money to maintain office spaces that many agents rarely step foot into, but they take a cut of your commissions (and royalties too!) to pay for the space.
When eXp Realty moved their office online, they freed the revenues that other companies spend on overhead and administrative staff, and turned them back to the agents in the form of Revenue Shares. Revenue Sharing is different from Profit Sharing. Profit Share models redistribute commissions to agents after subtracting expenses, and subjecting the remainder to convoluted equations based on overall office-profitability. eXp Realty’s Revenue Share model is straight-forward and paid out immediately – it operates on an 80/20 split with a $16,000 annual cap, and returns the company portion to agents based on their contribution to growing the company and helping other agents within their revenue stream succeed. Millions of dollars normally spent on overhead is instead poured back into agent’s pockets. Beyond this, agents and brokers at eXp Realty are shareholders. They own stock and they’re directly rewarded for how their efforts contribute to the value of the company.
National Collaboration and Unparalleled Training Opportunities.
eXp Realty is one of the fastest growing brokerages to ever launch in the U.S. This past year alone, it nearly doubled in size, sweeping past the 1000th agent milestone, and expanding operations into 35 states and Alberta. Its Cloud-Office model makes it possible for Real Estate professionals – no matter where they’re located – to meet together, brainstorm, teach classes, share resources, refer friends, and take advantage of one-on-one coaching. When I first joined eXp, I couldn’t believe the amount of training available to me. Every week there are more than 30 hours of classes available: lead generation workshops, business coaching sessions, app training, tech support, goal-setting, user orientations, and CRM classes, just to name a few. The tools are incredible. Unlike a chat-room, phone-conversation or Skype call, I can freely hold a conversation with anyone in the office – whether with a single person or an entire group. I just move my avatar within range of the people I want to talk to and speak into my microphone. If we want to screen-share, we can do that. If I want to share a presentation, I just walk up to a virtual TV and upload the file.
I’ve never worked for a company where everyone – agents, brokers, specialists, and executives – are so excited to help each other. Collaboration is the foundation of eXp Realty’s culture. People are coaching each other, sharing business resources, making connections, and challenging perspectives on a daily basis. No other company incentivizes teamwork to the degree that eXp Realty does; everything is reinforced by Revenue-Share and Stock Ownership programs that substantially reward realtors for helping one another. It makes eXp Realty one of the most enjoyable Real Estate companies to work for; people are genuinely looking to support each other.
Better Service Value to Customers.
One of the primary reasons I fell in love with eXp Realty from the powerful resources they offered me. eXp Realty operates at the frontier of Real Estate technology. They offer their agents some of the most cutting-edge tools in the industry, and then equip them with the training they need to use them effectively. Many of these resources would cost hundreds, if not thousands of dollars every year to use independently – eXp offers them to agents for free: Customer Relationship Management (CRM) software, Paperless Transaction E-Signature services, website hosting, Google Business Email & App Suite, Graphic Design Templates, On-Demand video training channels, Marketing and Web Support, and much, much more. These tools – paired with eXp’s Cloud Office training– make my marketing efforts and lead-generation infinitely more efficient. I spend more time, and more-valuable time face-to-face with my customers than I’ve ever been able to before.
More and more agents are joining our team every day - I invite you to explore the opportunities for yourself! Compare the numbers. Research the opportunities. Take a guided-tour through the office.
Find out what you think and let's start a conversation. See if you're not as excited as I am!
- Erinn Nobel
International Real Estate Specialist