Realtors: Why I left eXp Realty |
- Why I left eXp Realty
- How to find good agents to join brokerage
- What are some red flags to look out for when interviewing a Broker?
- What are the advantages to Compass?
- Lost a bid, another offer had the buyer paying commissions to lower the sales price to ensure appraisal came through alright. Kosher?
- If I switch brokerages, do I lose my current Realtor.com reviews?
- Has anyone have experience using Inbox Real Estate Leads?
- Starting Over in a New Town.
- Water Rights
- UNBELIEVABLY lost and overwhelmed, brokerage has been no help
- Lead Generation Companies and What To DO???
- Questions about name usage
- Do you lose more FSBOs to other agents or something then actually selling?
- First time buyer
- First Name Based Domain
- Brokerage office didn't answer the phone
| Posted: 26 Mar 2021 10:54 AM PDT Hey! I'm Jeff. I started a real estate brokerage in late 2017 and we ended up joining exp in August of 2020. We just left last week and here's why. Backstory - I built my company from 0 to 36 agents in 2.5 years. It was a "teamerage" meaning agents, got a crm, support, a full time (free) transaction coordinator, an office, copies, training, and leads, all for free. We were 80/20 for sphere deals and 60/40 for leads. We had a 20k cap annually. So exp was very appealing to me because it did a few things for me - got rid of my liablity - got accounting and other "non income producing" tasks off my plate - they could take over training and that time suck - ability to expand into every market in the world (eventually) - ability to recruit anyone/anywhere So, we all switched like I said in August of 2020. Switching was a nightmare on my end, not because of exp. Got settled in and I was excited to get started. I knew it was going to be a huge paycut, but I also thought it would pay off in the end with the ability to recruit agents from all over. Here's the truth - Revenue share is a fucking joke. It's pathetically low. I've peeked behind the curtain at the 1% recruiters at exp and they aren't making insane amounts of money. The 1% of the 1% are (brent gove, gene Frederick, and a few others), but most aren't making shit. I think it's a good model for a very specific type of agent. One who is independent and a self starter, but with no systems. Honestly the fees are a big reason we left. Little piddly fees are annoying to agents. I reopened my independent brokerage and 90% of my agents came with me and we're relieved to do so. I don't think exp is bad, but it isn't the holy grail it's touted to be. I had a great sponsor but I rarely heard from him. Not because he's a bad guy, but his sole focus is recruiting. It's just a broken model in my opinion. I am so happy to be back as an owner and rebuilding my company the right way. Happy to answer any and all questions. [link] [comments] |
| How to find good agents to join brokerage Posted: 26 Mar 2021 06:57 AM PDT I'm taking over the family brokerage. We currently have a 6 agents. I'd like to take on more agents (about 5-8 more). I'm coming Across many new licensed agents. I'd like to take on some agents that have experience. We are a boutique brokerage. Should I advertise? Are there any out-of-the-box ideas anybody can share? Any ideas or advice would be appreciated. [link] [comments] |
| What are some red flags to look out for when interviewing a Broker? Posted: 26 Mar 2021 09:29 AM PDT |
| What are the advantages to Compass? Posted: 26 Mar 2021 11:19 AM PDT I understand the recruitment payouts but otherwise what do they really offer that makes them so different? I'm not bashing them I just don't see how they are unlike other brokers. [link] [comments] |
| Posted: 26 Mar 2021 11:15 AM PDT Recently lost an over ask offer on a $620k house. Waived inspections on it too. The offer that beat us was apparently a buyer who offered to pay the commissions for the agents in exchange for a lower sales price. Mind you, this listing agent was charging 6%. That's $37k. This was to ensure the appraisal didn't cause the deal to fall through. How do you guys feel about this type of manipulation? I feel as if this became a norm on multiple offer scenarios it could have some bad consequences. [link] [comments] |
| If I switch brokerages, do I lose my current Realtor.com reviews? Posted: 26 Mar 2021 06:28 AM PDT I have some reviews on my Realtor.com page that is under my current brokerage. Does my Realtor.com profile automatically keep my current reviews/page, just change headlines when I switch to another brokerage? Thanks! [link] [comments] |
| Has anyone have experience using Inbox Real Estate Leads? Posted: 26 Mar 2021 10:04 AM PDT Seems like a reasonable setup ($25 per lead, you pick the leads you want based on area they're looking, budget, etc). Like anything else adjacent to real estate sales, could very well be a scam or just ineffective. [link] [comments] |
| Posted: 25 Mar 2021 06:58 PM PDT I've been a realtor in a big city for a few years now and I've done OK with it. I really enjoy being a realtor, but not the town I've been living in. I'm moving an hour and a half drive away to a MUCH smaller town, about 20,000 people. It's a tight nit community with a few big realtors doing most of the business it seems. How would you establish yourself? How would you lead-gen and get started? I'm afraid I won't have the same rep as the bigger realtors out there most people have probably been using there whole lives. I don't even have a social bubble out here. What would you do to get your feet on the ground? [link] [comments] |
| Posted: 25 Mar 2021 08:24 PM PDT I am currently working on my license. I am stuck on water rights, can someone explain the difference between littoral rights, and riparian rights? [link] [comments] |
| UNBELIEVABLY lost and overwhelmed, brokerage has been no help Posted: 25 Mar 2021 05:13 PM PDT Rant warning..... I am sorry in advance. If I need to take this down just let me know I am a brand new agent, 19 years old, license activated around 2 weeks ago. I realize that I am super super fresh to the game, but I feel like I need some advice. I joined my local KW the same day I passed my test. I had been in contact with them for a while and know the owner (who is retired), and thus I have been planning to sign with them ASAP. I was kind of promised the world as far as training. They have a program where you get training in exchange for an additional percentage of your commission, in addition to the original splits. Great. I signed up, and have heard nothing from the instructor. I reached out to her, and got an email with a google calendar invite for a month out, scheduling my onboarding meeting. Nothing else, no "hello!" or "nice to meet you!" I also got access to the content of this instruction program, and it just seems to be the whole "whats your 12 month plan", "how are we going to get there" thing. I dont need to pay for that, I can write business plans on my own. Im just frustrated because I was promised so many things and it just feels like they tossed me away after I signed and prepaid several expenses. After signing, I got basically no instructions on next steps. Nothing from the office about which programs I will be required to use, nothing about the software. I've just been signing up for everything I know I need, like the MLS and local REALTOR board. Things I know I will need, but surprise surprise, my brokerage didn't tell me I needed them. I've began to teach myself about the native KW programs, and all the other applications (docusign, econtracts, marketplace, etc). Which is already super overwhelming just with that. I feel like I could spend months just learning the programs I would just start making cold calls, but I don't even know what to do if someone wanted to use my services. If I had a question, I don't even know who I would reach out to. I've never even met my employing broker. I have no idea the steps of a real estate transaction, and I'm fully licensed. I dont know how to organize leads. I don't know how to write a contract. I don't know how to use the MLS. I dont know anything. There are other people out there Am I expecting too much out of my brokerage? I have been very consistent with reaching out for support but the answers I've gotten have been extremely brief. I knew that there was going to be alot of work to do myself, and thats okay, but it feels like the areas I need support and was promised support in aren't being delivered. Plus, I have already paid thousands in startup fees, MLS fees, E&O Insurance, etc. I have always been self driven, but this is by far the most ambitious thing I have attempted to do and it feels like its blowing up in my face. I don't know where to begin. It's so frustrating: i've always been a model student, over committed to extra curriculars, started some lucrative entrepreneurial side hustles, had over a 4.2 GPA, etc. And the one thing I want to do, be the BEST real estate professional, seems to be the one thing I cant do and cant figure out how to do. I have been working ~9 hours a day, and at the end I feel like I haven't made any progress. It feels like I haven't done anything the past couple weeks, and I'm running in circles. What should I do? I am so overwhelmed I can't work. I haven't cried in a VERY long time, but today I SOBBED. Any and all advice would be much appreciated. [link] [comments] |
| Lead Generation Companies and What To DO??? Posted: 25 Mar 2021 01:01 PM PDT Hey everyone! There are tons of lead generation agencies out there servicing agents. I just wanted to ask if anyone had any experience working with one before and what it was like? They claim that they can add 3+ more closings per month using Facebook ads; is this possible? They have a pretty slick CRM, Lead nurture, lead follow-up, etc. I would love to hear anyone's personal experiences; any lead generation agencies you recommend? As well as some tips on how to select a good agency to work with. Thanks! [link] [comments] |
| Posted: 25 Mar 2021 01:30 PM PDT Hey all, I was wanting to know if I am able to use my middle name, I have been trying to look for my state (missouri) and it says I need to use my legal name or register a fictitious name, but does my middle name count as my legal name since it is on my license? If you all have any guidance that would be great! [link] [comments] |
| Do you lose more FSBOs to other agents or something then actually selling? Posted: 25 Mar 2021 03:23 PM PDT After meeting with a FSBO for a preview appointment, do you guys find that most of the leads you're losing are due to them listing with other agents, them getting the property sold or other reasons? Also, kinda unrelated question, what are you guys bringing to FSBO preview appointments and what questions are you asking? I'm able to set a preview appointment relatively easily after a few calls but I'm struggling with my preview appointments, I don't want them to think I have a buyer for them either. Thanks! [link] [comments] |
| Posted: 25 Mar 2021 03:29 PM PDT |
| Posted: 25 Mar 2021 03:17 PM PDT I am having a brutal time selecting a domain name for my real estate website/email address, and have far surpassed paralysis analysis. The shortest and most obvious are not available or too expensive. I have a couple layers of complexity; I'd really prefer not to use my last name in the domain url. My first name has a unique spelling and I've ruled out my initials, so...I'm leaning towards using just Meg. I am also a team leader for a custom home team + builder so creating an entirely unique brand identity doesn't make sense but is somewhat of a factor in the domain name I choose. The choice to create a separate domain is predominantly so I can maintain some control of my email and also work with my own sphere/self marketing. Here are some contenders I'm considering: Megshomes(dot)com Meg+lastname+homes Meg+lastname+city Meg+City+homes (this was the last domain I purchased and meh, when I tried to give it out over the phone I really had to slowly spell it out, so decided I needed to simplify.) I know this topic has been beaten to death, but hoping there's some examples out there I haven't considered. Like not using my name... but then I feel like that's truly a separate brand which is now competing with my team. [link] [comments] |
| Brokerage office didn't answer the phone Posted: 25 Mar 2021 01:30 PM PDT Is it common for an office to send customers to voicemail? I just called my local keller williams to try to setup an interview to become a sales associate and got sent to voicemail. I don't want to work for a company that would handle my leads this way. [link] [comments] |
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