Alex, some of the things you stated about EXP are not accurate. I am commenting just to clarify. First of all, I worked at EXIT for 8 years. I really loved it and I loved the Owner Steve Morris. I started my career 21 years ago, with Re/Max but when the market crashed I realized I needed a company that gave me the ability to have multiple streams of income. EXIT was the solution then. KW did not even compare to EXIT's single-level residuals. EXP was not created yet. I referred agents to 3 different EXIT franchises. I made a nice yearly 6 figure residual. I was able to relocate to another State because of these residuals. I was grateful to have income while I was getting licensed in my new state. However, I learned the hard way that residuals that are paid out by a franchise have a downside. All 3 franchise owners I had referred agents to, did not renew their EXIT Franchise. They talked most of their agents into following them to another company. The agents that did not follow them went elsewhere. None of the agents I brought on to EXIT remained. I lost all of my residual income. This is why I am now with EXP. It is not a franchise. I do not have to worry about this happening again. Also, I want to point out that the revenue share with EXP has nothing to do with the stocks. These are 2 different programs for agents at EXP. Only 12% of agents with EXP have referred agents to EXP. If an agent has referred an agent to EXP, the referring agent is paid a percentage of the commission paid out of EXP's portion, not out of the agent's commission, paid on the 22nd, of the following month. The stock program awards agents at different milestones during the agent's calendar year. 1. Stock is awarded for the first closing of the year. 2. Stock is awarded when an agent referred closes their first deal of the year. 3. Stock is awarded when the agent caps. (16k cap is met) 4. Stock is awarded when the agent ICONS. The agent is awarded their 16k cap back in the form of exp stock. 5. The agent can enroll in the EXP equity program which allows them to take 5% of their commission to buy exp stock at a discounted rate. Both are above and beyond selling homes. Giving agents the ability to build a retirement while they focus on selling. Awarded for their production. Again the stock has nothing to do with the revenue share program. The stock program is awarded for production. The revenue share is a referral fee paid to the agent that refers agents to EXP. An agent is not required to refer agents to EXP. But if they do, it is another stream of income on top of production and stock awards.
I'm in Southeastern Michigan (Metro Detroit), but I have my license held by a broker in Lansing, Michigan. Since EXIT is a franchise, I can connect you to ANY Exit location. There are other offices in Jackson, Traverse City, Lansing, and more -- just to name a few. Where are you located?
Love your video I think it will be very important to note that the 10% doesn’t comes out that recruits commission. This 10% comes directly from Exit Corp. I’m Located in Houston Texans EXIT REALTY 360….
Will eXp crumble when "the next real estate disrupter" comes along? Ha! I'll wait. Won't happen with Glen Sanford in charge. So you would NOT want stock shares of any company given to you? How much do you lose if you don't put your own money in? Might want to rethink giving stock market advise.
My take of both Exit and EXP. I was at Exit 17 years ago. I hated it. I had a piece of crap broker that competes with me. I am at EXP now for two years and I hated it. I am planning to leave. But I will not go back to EXIT either.
EXP is a model built by agents for agents. I am sorry to hear you hate it. You absolutely are not plugged in with the right people at EXP. That is unfortunate. People can suck but the model is amazing.
Alex, some of the things you stated about EXP are not accurate. I am commenting just to clarify. First of all, I worked at EXIT for 8 years. I really loved it and I loved the Owner Steve Morris. I started my career 21 years ago, with Re/Max but when the market crashed I realized I needed a company that gave me the ability to have multiple streams of income. EXIT was the solution then. KW did not even compare to EXIT's single-level residuals. EXP was not created yet. I referred agents to 3 different EXIT franchises. I made a nice yearly 6 figure residual. I was able to relocate to another State because of these residuals. I was grateful to have income while I was getting licensed in my new state. However, I learned the hard way that residuals that are paid out by a franchise have a downside. All 3 franchise owners I had referred agents to, did not renew their EXIT Franchise. They talked most of their agents into following them to another company. The agents that did not follow them went elsewhere. None of the agents I brought on to EXIT remained. I lost all of my residual income. This is why I am now with EXP. It is not a franchise. I do not have to worry about this happening again. Also, I want to point out that the revenue share with EXP has nothing to do with the stocks. These are 2 different programs for agents at EXP. Only 12% of agents with EXP have referred agents to EXP. If an agent has referred an agent to EXP, the referring agent is paid a percentage of the commission paid out of EXP's portion, not out of the agent's commission, paid on the 22nd, of the following month. The stock program awards agents at different milestones during the agent's calendar year. 1. Stock is awarded for the first closing of the year. 2. Stock is awarded when an agent referred closes their first deal of the year. 3. Stock is awarded when the agent caps. (16k cap is met) 4. Stock is awarded when the agent ICONS. The agent is awarded their 16k cap back in the form of exp stock. 5. The agent can enroll in the EXP equity program which allows them to take 5% of their commission to buy exp stock at a discounted rate. Both are above and beyond selling homes. Giving agents the ability to build a retirement while they focus on selling. Awarded for their production. Again the stock has nothing to do with the revenue share program. The stock program is awarded for production. The revenue share is a referral fee paid to the agent that refers agents to EXP. An agent is not required to refer agents to EXP. But if they do, it is another stream of income on top of production and stock awards.
I'm located in Michigan, Wayne County also. I am researching brokerages, thanks-going over to your Fee video.
I love the video. I am with Exit Realty at the newer office in Ferndale, MI
For the record every brokerages #1 goal is to recruit. eXp also gives so much more back to the agent through stock grants than EXIT.
what technology does exit realty provides?
What part of Michigan??? I’m in Michigan
I'm in Southeastern Michigan (Metro Detroit), but I have my license held by a broker in Lansing, Michigan. Since EXIT is a franchise, I can connect you to ANY Exit location. There are other offices in Jackson, Traverse City, Lansing, and more -- just to name a few.
Where are you located?
Love your video I think it will be very important to note that the 10% doesn’t comes out that recruits commission. This 10% comes directly from Exit Corp. I’m Located in Houston Texans EXIT REALTY 360….
Will eXp crumble when "the next real estate disrupter" comes along? Ha! I'll wait. Won't happen with Glen Sanford in charge. So you would NOT want stock shares of any company given to you? How much do you lose if you don't put your own money in? Might want to rethink giving stock market advise.
Found the EXP lover haha
This video just exposes the creators bias. His explanations are lame.
My take of both Exit and EXP. I was at Exit 17 years ago. I hated it. I had a piece of crap broker that competes with me. I am at EXP now for two years and I hated it. I am planning to leave. But I will not go back to EXIT either.
EXP is a model built by agents for agents. I am sorry to hear you hate it. You absolutely are not plugged in with the right people at EXP. That is unfortunate. People can suck but the model is amazing.