Why I LEFT eXP Realty - December 2021 exp realty explained
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- Опубліковано 2 гру 2021
- Are you confused about which brokerage to join? Are you contemplating eXp Realty? Let me quickly go over my experience with eXp Realty and why I only lasted three months. Toronto brokers and sales representatives have plenty of choices on which brokerage to choose from. eXp Realty is a popular brokerage making waves in Canada, but let me explain why you should maybe think again about joining. eXp Realty explained here.
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Contact me!
IG: @thedavehutch
E: david@djhrealty.com
W: www.djhrealty.com
#exprealty #torontorealtor #realtortips
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![Why I Left Exp Realty [Exp Realty Pros and Cons]](/img/n.gif)
I couldn't agree more ! we have limited time daily, we don't want to divert our time, effort and energy from our own clients to recounting the other agents, the virtual office doesn't make any sense to me, especially for real estate business ...thanks a lot for sharing your truthful experience. best wishes !
David, great video. I shared your frustration and almost left exp. Here’s how I overcame it and now Im prospering. Hopefully it helps someone else avoid the frustration. The model is not perfect but it’s too good to leave.
1. Compliance “Deal Secretaries”. You can affiliate as a formal team because of the volume of deals you do. This entitles you to being assigned a permanent deal/compliance officer. No more guessing how they review files bc its the same person. They literally become part of the team.
2. Office space. Exp offers free co-working memberships however locations are limited to big cities. I decided to create my own brand using exp as the platform. I also have a physical office that my team can access 24/7. We provide training, mentorship without the headache of brokering
3. Sleezy recruiting. This is a problem because of people like you and I not sharing our knowledge. We sell houses, certainly we can help others learn how to do the same at a high level. The more people like us that decide to lead, the more we can drown out the sleezy recruiters that only care about their downline.
Exp is giving you a platform to explode your business and get compensated for helping others do the same. Learning how to overcome the small issues and leveraging the model could be game changer for your business. Think Bigger!
You made great point. I just joined. I am not about recruiting other agents. I just needed all the training and the team i am with C5 was a free real estate coaching. So that's the main reason i joined. The previous brokerage didn't give me much support, and i never did go to the office anyway. So a physical office doesn't matter to me.
Hi Dave! Thank you so much for your honest opinion on Exp! I was just curious as to what filming equipment was use to produce this video?
Thanks for this video Dave. Keep it more coming ✌🏽
Really appreciate it! I absolutely will! 🙏🏼
I’m looking at brokerages to join now. Great and informative video man thank you 👍🔥
Happy to help!! Reach out if you have ay questions and I can gladly help :) @thedavehutch on IG
Kind of funny how you'd expect having more deal secretaries would be a good thing, but your experience just goes to show that's not necessarily the case and it depends on your situation as an agent. Great video!
Thank you! I Appreciate it a lot :)
@@thedavehutch Pleasure!
I agree! The exact reasons I did not join, it was hard to see a luxury brand with them.
New Realtor, I enjoyed this Thank You !!!!
Amazing!!! Happy to help. Feel free to reach out anytime if I can help, I would love to
I am with EXP, and you are correct with everything you just said. I am in the process of possibly looking for a new place too. A place with an office that I can go to.
Yea I missed the in person aspect. It wasn’t the same.
@@ocvibes I would LOVE if I was haha stuck in Toronto Canada
@@ocvibes unfortunately I’m in pa Centre County. But for the invite thou I appreciate it.
I just left last month and signed with Coldwell Banker last week. EXP wasn't enjoyable for me.
Currently on the route..Who did you go to in exp world to leave how did everything figure itself out worried about the transfer process and the stocks.
Respect your decision, sad to see you go though man.
My first year in real estate was with eXp. It was an excellent brokerage to start at. Back then, we were at 16,000 agents. The 100% remote model is ideal for me but may not be for everyone. I’m still a shareholder as I believe the future is bright for exp.
Exp model is amazing there’s no doubt about that.
I LOVE eXp. I found the transaction specialists to be super helpful and easy to reach. I follow a checklist so I don't miss any required information and then don't get asked to do things over. I Love that I can easily reach the managers and other support. And their detailed contract training teaches me things I haven't learned over years of work. Everything you could want to know is at your fingertips at any time. I respect your opinion and good video but I have to give thumbs up to this company. I was with Engel & Volkers (and originally DFH) which were good but this is great.
I am just curious what was the business model like with Engel & Volkers?
@@TheGoswitzTeamRealtors I was with the top producing team in the company and it was no model at all, the old 1906 Pyramid model with franchise fee then crumby splits. It was a joke to me. Just another money grab brokerage. Sell for 30 years and leave with nothing. Same as the rest, other than eXp, Real and LPT. One stands out above the rest and it’s the one this gentleman in the video left✔️
thanks for your insight :)
Happy to help!! 🙏🏼🙏🏼🤗🤗
Thank you for your honest opinion!
Thank you so much for sharing your experience with exp. I was thinking about going with them as I explore my options. My only complaint with this video is that the music was too loud and made it hard to hear you over it. Other than that, I really appreciate how concise this was. New sub!
Appreciate you!! I Will keep this into consideration for my next video!!
@@thedavehutch your music is fine you can’t please everyone do what you do I dig it bro 😎
I love EXP have been with them for two years now and the best move I have ever made. Suits us down to the ground. Love all of our colleagues Australia wide and the support is tremendous
I just left because of these reasons you are mentioning… Soo true!
It seems a lot of people have the same issues I had while working there !!
Me too!
Not trying to be hard on you, however, you are wrong about most agents being all about agent attraction. Less than 8% of agents at EXP are taking advantage of Recruiting. Also I too am running 10+ deals per month and I have never had the issues that you are stating. I have had issues when the paperwork needed to be corrected but it was my agents fault or mine for missing something. I get it that it wasn't for you but I dont agree with the issues you were having. I could easily give you 8-10 reasons why after being at 3 other brokerages in my 20 year career, I can tell you why exp is not only an amazing brokerage to run your team or business from, it really is the future of real estate. Every other brokerage is going to struggle to keep up. Just my opinion.
Are you located in the US? I’m in Canada, and I feel the back end support issue I had was a Canadian thing. Yea don’t get me wrong, I know some of my friends that love it. And I agree this is such an innovative brokerage. I just personally didn’t like the branding and in the city of Toronto, Canada I think it will struggle.
But with that being said I’m happy you’re killing it and keep dominating man! 💪🏼🙏🏼
Kindly give us the 8-10 reasons....
@@thedavehutch Thank you for not taking offense to my reply. I didnt mean any to sound harsh. I am in the US. Not sure what the differences are but I understand. I have many real estate friends in Canada. I wish you well.
@@vasutaak7907 I have been with exp for only 1 year, and in the business 20+. I was an investor in 2 KW office, spent 9 years at Remax and started my career at C21, so I do have alot of experience with several models. in just 12 months, here is what happened.
1. in 12 months I now have $42,000 in Stock
2. Every penny I paid the broker in commission split was given back to me in additional company stock
3. I am earning on average $1500 per month in rev share ($18,000 per year and growing)
4. I have great health insurance for my wife myself and 3 children
5. I became a mentor and I am earning an additional $15,000-$20,000
6. The technology they give you, allowed me to cut out $2,000 in expenses monthly
7. instead of 1-2 brokers, you have typically 5-6+ brokers available within minutes of you needing them
8. extensive training available 24 hours
9. my personal organization includes 5 real estate coaches offering personal coaching and training including access to proprietary documents and systems 5 days per week for those that join through us.
10. The ICON program will allow me to get my entire cap back every year so in 5 short years I will have $80,000 tin stock hat would have paid the broker!
11. I sold more homes than I did ant any other brokerage ( I am not stating that this is because of exp but I know many people fear their business will go backwards if they move brokerages)
Hope this helps. I am ready to launch a new real estate video series on youtube discussing not only exp but everything real estate industry related.
lastly. I am an old dog....lol not that old , (40's ) but I have been in the business a while. Making big changes were not easy for me, however, I like most people didnt believe people would bank online years ago, or that amazon would become what it is and I said just 2 years ago, what the hell is Crypto...lol. Lessons learned. This IS the future of our industry. Why else is Gary Keller trying to buy back market centers and other brokers panicking and trying to slow exp down. Remember, when someone raves about a brokerage, its not an insult to other brokerages. Trust me however, when you truly see this for what is it, its hard to unsee it. Its a shame it didnt work for David. It happens. I just feel that this is the best place in my opinon to run your business.I guarantee you are going to see other brokerages trying to duplicate this model moving forward. Good luck to everyone. If anyone has any questions, I'd be happy to give you real , and honest answers. No recruiting and no BS.
@@marcgiosaRE good comment! I’m 30 and about to get my license. I love a lot about exp but like this dude said in video, I like face to face and that’s how I learn. But the woman that I met with (I approached her) that works with exp and is a friend, she genuinely wants to work with me and collaborate with me. Train me and grow together. Also, exp might recruit a lot but my first house I bought, my realtor was my buddy. He works with exp… as the buyer i didn’t give a crap who his broker was lol. I used him cuz of HIM! Only time I ever hear anyone talking crap about exp is other agents cuz they cry about recruiting. I get it cuz I’ve done the whole MLM stuff but yeah the buyers and sellers don’t give a crap about the broker and I only say that cuz that’s never crossed my mind buying my house. They want you, you are the brand. I guess I’m just praying that if I go with exp that I’ll still be able to learn all I need to learn. Other than that I like the company.
I agree with you, not because you are in my home town of Toronto, lol...I'm now in Southern California. After being a top producer for Keller Williams, and looking around, EXP was not a place I wanted to go to. I agree with you, it just feels like so many of their agents focus on agent recruitment and not on being Realtors. When I left KW, I went with Fathom Realty Group, super happy with them, because there is the camaraderie you mention, but not the huge split I would give Keller Williams, when I left KW, I had 'given' almost 300K in commission. Fathom has great training, and their commission is only 500 per transaction, instead of the 70/30 I gave KW. Thanks for the video, and also how respectful you were to exp agents.
Exp looked good at first but being a new agent (soon) I need to know I’ll have the support I need. I prefer having an office to bring people to to sign contracts, and I HATE the huge focus on recruiting.. this is real estate not an MLM.
Agreed!! I know the world is going virtual, but there's nothing like being IN an office full of top producing realtor, not recruiters, for motivation!
Bring people to the office to sign contracts? 😱 you dont use dotloop?
Hi Lindsay. I am an agent of 20+ years. Very successful in this business. I also train new agents. I wanted to tell you a few things. 1) I love having people come into the office, but the reality is that less people are doing that. You rarely see it. I have been in the top offices in the country for years, and I am telling you that it doesnt happen that often. Also, with exp you do get a Regus membership so you do have multiple locations to meet clients on a professional office setting. Also, and this is ver important to understand about recruiting.... this is 100% the exact model that Keller williams used to become the #1 company in the world. I remember for years everyone saying the same thing that they were just recruiters and drinking the kool aide. well look what happened. And do you want to know the real truth....less than 10% of KW agents actually recruited others and make profit share. The same is true with exp. They just released the numbers and only 8% of exp agents are trying to recruit. Here is the last thing I will say, as a real estate agent you are a recruiter weather you like it or not. You are constantly recruiting for buyers and sellers and at some point like many of us, you may want to grow your own team and then you are recruiting every day for yourself. Its funny how people look at this. It is 100% not a pyramid. It is using word of mouth to grow the company, and just like we all missed out on buying amazon stock, tesla stock, or Crypto when they were all super cheap, this is an opportunity to have a huge stream of income to offset your real estate and save for retirement. Take it from someone who has done very well, if this company had been around when I started I would have retired i my 30s. Make sure you understand what you are saying no to. just my advice.
I actually left exp because of their back end support. it was bad. Couldn't reach anyone at all for days. What brokerage did you end up at?
Literally one of my main reasons. There were like 5-6 different support ppl, everyone had different answers, if I even got an answer. I ended up at RARE Real Estate Inc. Boutique brokerage in Toronto
@@thedavehutch I totally understand. Nice congrats!🎈🎉🎊🍾
@@thedavehutch do they have that company here in the USA too? Asking for future reference. Looking into becoming a realtor soon.
@@myadvantures0426 we don’t yet. We are only in Toronto Canada but we do plan to expand eventually
@@thedavehutch wonderful! I will forward to that in the future
No matter what brokerage you go to, the people around you is always the most important thing! Here in Florida our team and upline with eXp is AMAZING! We get SO much training from the Fast Forward Movement, Team Gogo, and we can reach out to anyone in our up-line and they will speak with us. I just had a conversation with Curtis Johnson today! We never have any issues with contracts and paperwork either and our brokers are always available if needed. I am very sorry for your experience and wish it could have been better for you. Wish you all the luck too!
Agree with you and Team Gogo is great, see her on IG. We have a great group here in the Boston area too, Team Truong. Wonderful support and we have a What's App group where we collaborate. That and Workplace which is AMAZING!!!
Hi Dave: What CRM do you use?
Thank you
I use follow up boss!
@@thedavehutch how does that compare to kvCORE and LionDesk do you know?
How much is it a month with follow up boss?
I Appreciate your reply - Thank you
I wanna to discuss more about the brokerage if you can guide me
Anytime! Email me at david@djhrealty.com
Hey! Thanks 🙏
Went there when they were around 10,000 agents. Got accused of saying I was going to steal a commission check when all I told them I would pick up the check from the title company and mail it to them. The guy on the phone would not let me talk and he threatened to have me arrested. I could not get away from that unorganized bunch quick enough.
Amen!!
You would be a great Fit for REAL 🤗
🙏🏼🙏🏼
Have you ever look into REAL? It's also a cloud-based brokerage BUT they have designed it to attract producing agents, not full-time recruiters. In fact, there are a lot of restrictions on what you can do to recruit, which is a good thing because it protects the culture and dissuades full-time recruiters from joining. I also think their branding would fit in with the luxury scene in Toronto.
Same with LPT - they have strict recruiting guidelines. They actually have a recruiting package that goes out for you :) I've been with LPT for about a month to date - so far so good! Was with eXp for nearly 5 years
So true about paper work!!!!
Im in eXp and I find that new agents are not looking in there upline for training. There are agents with paid training programs that they give people in thier downline for free because they get Rev share off your deals. Because of my upline Im on zoom meetings everyday with Top agents. Sometimes st other brokerages, you dont get help or training from other agents because they dont benefit from making you their competition. Also, I have an office with other eXp agents. 🤷♂️
Ditto for me. I lasted 2 months.
Everyone has different opinions for sure. And no denying it’s a great model. I just disliked a lot more than I liked so I knew it wasn’t for me. Plus once you get stuck in there, it’s hard to leave
The skyslope is straightforward on what EXP is asking for. I will say any name, date or signature that is missing on a forum gets kicked back and is annoying. Also some of the forums that are required for unnecessary in my opinion. You nailed it on the head though exp does have this culture about recruiting which does keep some agents from focusing on their production. However that is the own agents fault for focusing on recruiting instead of just their production.
Here in Toronto. We had about 10 different administrators all wanting different things, I’ve been to a few brokerages and exp was the worst for deal paperwork for sure.
Boom bang on why I left!!
The last point is what makes me skeptical. I joined a fb group and you cant ask a single question without at least 6 agents hitting your inbox. And its always their life story and unnecessary personal information.
I agree! I think if you have a strong enough personal brand, people will come to you not the opposite way around. Keep working hard, build your brand and people will reach out to you :)
Bravo!
It does not benefit me if they are big in other countries I don’t make any money on the other countries
Agreed!
15 deals a month?? You’re a beast.
Only about 10% of agents actually recruit so it's hard to say it's all about recruitment.
It’s just what I found in Toronto. Like I said a lot of great realtors no doubt. But here it seems to appeal to people looking to just recruit
Hey, I might agree with your first point, maybe because I am not realtor yet (will be soon:)) & do not have any experience with that yet. but having an office and talking to other realtor, bro you can have an office. I am working with high producing eXp realtors everyday, in office & everything. Only difference is, no franchise fee :) Soooo?
In order for me to have an office I would need to rent my own office. Why would I rent my own office when my brokerage now has a beautiful office I’m able to work in? Doesn’t make sense. Sorry
@@thedavehutch no worries bro you take care and maybe in the future when I have my own office I'll get it touch with you :)
If you're going through that many transactions per month you may as well start your own brokerage and hire your own people
Oh god no haha maybe one day but not anytime soon
When you do that you just inherit more headaches LOL!
The lack of real training is the biggest issue. They spend more time trying to recruit rather than learn to be good
I could not agree with you more!!! My team made the move a year and a half ago and I am currently looking around at my options because this is just not a brand or brokerage that I want to be apart of anymore.
It has the right model. Just feel like it’s growing too fast and it’s watering itself down
Subbed you
Followed back :)
@@thedavehutch thanks man 🤘
Weak reasons. I know lots of Exp agents that are doing very well and have no complaints. Its not for everyone. Good luck!
I never said no exp agents do well. I actually said the opposite, I said I know many that do well also. I’m assuming you’re exp, but I just said it didn’t work for me.
Every time I do a deal with an EXP agent I know I'm going to spend a lot of time on the phone explaining stuff they should know. Or catching their buyers unaccompanied in my area. Or opening the door for their buyers to do walk thrus and final walks. The agents are never from my area either. Always trying to do a deal in a market they don't seem to have experience in.
Many of our Agents have come from RE/MAX (such as myself), Keller Williams and other large companies. I think we all come across Agents that lack experience and have to try to guide/help them. The industry is pretty unregulated so you will get that. My experience has been AMAZING and I have been with eXp for over 2 years. The collaboration is unparalleled because we ALL own stock so are partial owners of the company. This means Agents truly want to always help other Agents because it helps the company. Recruiting is completely optional, most Agents do not recruit but sometimes attract others due to their business and reputation. Many eXp teams do opt to open an office and we have Regus offices all over the country. The Regus offices are all beautiful, professionally staffed and you can rent a conference room for about $30 an hour if you need it. I also love that I can take 5% of my commission and buy the company stock at a 10% discount. Sure beats the 5% I gave to RE/MAX for over 20 years and NOTHING to show for it!! I am now licensed in 3 states, ONE company, eXp, one cap and great Brokers in all 3 states.
Couldn’t have said it better myself. I had a very similar experience and left eXp for the same exact reasons.
When I first joined it was almost impossible to find anything critical of eXp but I’m glad to see that more is beginning to surface from people who left the company and why it’s not the game changer it’s hyped up to be. I really sympathize for the new agents that selected eXp as their first brokerage who will inevitably feel completely lost and left high and dry. The support just isn’t there.
Funny. Been at eXp since August. Capped in 3 months and Icon’d in 4 months. Closed 63 deals already. Never have had any issues with the back end. Never had paper work rejected. Have two coordinators with eXp that handle all our backend and CDAs. Most of our CDAs are completed in 48 hours of submitting paperwork. When I moved our team over negotiated our team splits. Just launched our profit share program with our team and eXp was ok with it. Talk to my broker couple times a month… with out going into the cloud. So maybe you just didn’t plug in.
Been at eXp since 2020 working for a team. Team came in at Mega Icon status and negotiated the splits. Regularly have issues with back end. Paperwork has been rejected and then I have to explain why they are wrong and the paperwork is correct. Mulitple people reviewing the docs. Most of the time we get CDAs the day of closing, after sending reminders and then have to send them back to be corrected and they still dont always balance. Everyone's experience with eXp is different whether they plug in or not.
@@poisonous914
True. Everyone's eXperience is different. Maybe we got the luck of the draw. Since my original comment, I have closed out 93 transactions as of 4/22. Yesterday spoke with one of our brokers twice and spoke with compliance. With all that said, we did have a few issues about 45 days ago with compliance and file approvals. We jumped on a zoom with the brokers and compliance. Worked through a few small tweaks and all is good. Loved the fact that everyone on the call was willing to listen and take suggestions. Since then, zero issues. We have three people now that handle our CDAs at eXp for the most part and they are out to title way ahead of time. Again, I know each has different results but this has been the only brokerage where I can reach out to upper management, talk, and work through things.
@@NorthRealtyGroup You definitely seem to be having a great experience. Our talks with upper management have resulted in little to no change. Our experience has been plagued with issues since the transition which has left a bad taste in my mouth for eXp. I can definitely see it's benefits and we don't have issues on every single file we have closed, but the fact that we are still having some of the same issues we have had since day 1 makes it more than just growing pains. I can't bring myself to enjoy the benefits of eXp due to the errors that I have to deal with. I am truly glad your team is having a great experience and I wish you continued success.
For almost a year now, EXP has tried to recruit me. I will give them this; they are very, very persistent. After some life happenings and a hospitalization, I had to put R.E. on the back burner. I have worked at 4 R.E. companies during my career and am licensed in two states. I am currently happy where I am, but I thought I would listen to the "schpeel" anyway. I did research, wrote down pros and cons, and waited for my zoom meeting that I blocked off time for. I was on time, but 19 minutes later, no one came to the zoom meeting. They even sent me a quick video message in the a.m. Confirming the afternoon meeting! Sorry, EXP, ya blew it. I'm not going to work for a company where 1. They can't show up for a 30-minute. Zoom meeting that they scheduled after trying to get me for a year!
2. I'm not going to work for a company where I have to spend part of my time recruiting people. I'm in the business of R.E. not being a recruiter.
3. I will not work for a company again that doesn't give their agents 100% commissions from day one.
I don't want to have to "cap" every year to " earn" my 100% commission; I EARNED IT from day one.
I was the one putting the deal together, putting up with difficult clients, negotiating, and sealing the deal.
4. I do not want to ge in a mentorship program. Where my so-called mentor gets part of my 1st three transaction commissions.
I'm not working for an MLM R.E. company.
There are plenty of them out there, but the only good thing I can say about them is that they offer stock options for R.E agents, but it comes with a price. Good luck to anyone who wants to join them; this bone definitely is NOT for me.
Itis likely EXP hasn't tired to recruit you at all. An Agent WITH EXP that you know probably has been trying to Sponsor you in. There is a fundamental difference and some people can be annoyingly pushy is this respect. Phrasing it as "they" is incorrect. I'm also a little confused. This must be in reference to a US broker. The only way a Broker can pay you 100% commission from day one is if they have a substantial desk fee or a TON of Agents to cover their Broker fees, pay employees and insurances. EXP's commission split in Canada is one of the best available by far. Whoever you were talking to that was trying to Sponsor you in clearly isn't a good Agent and shouldn't have been in discussion with you if they can't make a zoom call they themselves scheduled. Also, you don't HAVE to recruit anyone? That isn't a requirement whatsoever. You can, as many do, Just sell Real Estate. The mentorship program is also for new agents that have done less than three deals in the past 12 months. If you haven't sold more than 3 homes in the past 12 months the mentorship program protects the brokerage from massive liability AND ensure the New Agent doesn't make any additional errors. I'm assuming you stopped selling for at least a years due to the hospital incident. Sorry to hear that. I sold have sold for multiple Brokers for a decade as a solo Agent and heavily dislike high desk fees. That was my main reason for switching. Rev Share, stock options and so forth were just a bonus.
@@robinhilliermodernagents7432 You are wrong about the 100% commission split. I have been working for a broker where I get 100% commission for the last 5 years. He does charge me $199 a month but no transaction fees. Once a year I am charged $100 for my part of the E&O insurance. He has 257 agents licensed through him. And he is a great help if I run into a problem or question. I love it!
Wrong post … customer ss is exceptional. Or u don’t know how to write contracts or neither ur TC or u want some views 😁😁… I feel 100% much support than ever… love Honey Badgers 🦡 too…
Honey Badgers ROCK the house!!