- Cloud-based brokerage eXp Realty eschews brick-and-mortar infrastructure for a technology-driven, mobile-friendly business model.
- The brokerage has also launched a cloud-based "Tech Campus" that provides mobile agents with collaborative meeting, discussion and training opportunities from any location.
- The company elected to re-invest cost-savings from their virtual infrastructure into a revenue-sharing model for agents that's led to rapid growth across the country.
Agents are mobile creatures by necessity, and recent advances in mobile technology have given real estate professionals an unprecedented ability to “take their office on the road” and do the majority of their job out of their home office, local Starbucks and even parked on side of the side of the road in their car when required.
There’s no doubt that as mobile technology surges forward, the ability of agents to conduct their business is carried forward as well — but what about the business itself?
Is real estate going to remain trapped in the brokerage office 1906 model of real estate forever, or does new technology and new economies of scale empower agents to transform not only the way they do business but also the business itself?
Brad Andersohn from eXp Realty thinks it can, and in today’s interview, he’s going to discuss the eXp Realty model for a “virtual brokerage” with the potential to tip the traditional real estate model on its ear — and provide financial and educational benefits to agents in the process.
Andersohn is the executive director of education and industry outreach at eXp Realty — an entirely agent-owned and cloud-based brokerage. He’s also the co-founder of the RE Tech Campus, which provides eXp agents with a new form of education and training curriculum that embraces the virtual nature of the startup’s organizational structure.
eXp Realty started with just a handful of agents back in 2009 and has rapidly grown to 1,300 agents in 41 states — a change that Andersohn attributes to the employee ownership and revenue sharing model at eXp.
Instead of spending money on the overhead associated with a brick-and-mortar, eXp is able to offer its agents higher compensation — not just in commission, but also in shareholding — a major onboarding incentive for agents who don’t feel the need for a physical office to begin with.
Subscribe to Tim and Julie Harris’ podcast on iTunes or follow us online at realestatecoachingradio.com.
Tim and Julie Harris have over 20 years’ experience in real estate. Learn more about their real estate coaching and training programs at timandjulieharris.com, or request more information about their programs at joinharris.com.
