“We have been really thinking about this for a while and we felt with some of the goals the team have and the flexibility we’ll have with eXp, it was the right move,” Figueroa told Inman when reached by phone.
Figueroa and her team of 17 agents – 21 people total, including support staff – has been with RE/MAX Innovation in Orlando, Florida for nearly 10 years.
In 2018, the team closed about $80 million in sales volume and she says it’s on track to sell more than 400 units in 2019. On the most recent Real Trends Thousand list of top teams in the country, The Figueroa Team ranked 193rd in transactions closed.
Figueroa told Inman that there were a few reasons for the move from the franchise model to a 19,000-plus agent virtual cloud-based brokerage.
“We really liked how forward-thinking the company was,” Figueroa said. “We were excited about a lot of the collaboration that was happening among high-level teams across the country.”
“We’re really excited about the ability to cross into multiple MLSs, multiple areas,” Figueroa added. “I feel like eXp gives us a lot of flexibility.”
Figueroa also admitted the capped commission structure is a benefit for her team, but focused more on the ability of her team members to grow into leaders within the company as a big reason behind the switch.
In the past, when someone wanted to break away from the team and become a leader, she said they would either have to find a new brokerage or start their own indie brokerage.
“What we found was, there was a lot of excitement for a model that would allow us to raise them up or really get them productive and grow then when some agents, those who are ready to grow their own team or grow under the model – the mothership that we created – they would be able to turn into like a sister team,” Figueroa said. “We started looking at the evolution of an agent as they start on a team as they start having additional goals in their business, what was the best model for them.”
EXp Realty operates in a virtual cloud campus where agents can get training, collaborate on best practices and connect with other agents around the country in a 3D virtual environment. Figueroa said she’ll keep and brick and mortar location, but so far thinks the virtual campus is fun and exciting.
“My husband is having fun with it,” she added.
She’s most excited for the collaboration aspect of the virtual cloud campus.
“Now they can learn from more than just me,” Figueroa said. “Now they can learn from more than just one team leader, one broker, one broker mentor. That’s something the team is excited about and we’re excited about.”
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