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EXp Realty announced the launch of a new business-generating technology for its agents at the company’s annual shareholder summit in Washington this week.
The new tool, dubbed My Link My Lead, will enable eXp agents to share links to the company’s national search portal and automatically refer the leads generated outside of the agent’s service area. EXp Realty CEO Glenn Sanford said the technology intends to help eXp agents harness the brokerage’s nationwide search site to grow their business.
“We are dialing things in, becoming even more agent-centric, particularly when it comes to how we use technology,” Sanford said in a statement. “My Link My Lead provides our agents with another stream of income as we build a true national portal, while also providing a high accountability high conversion platform supported by our internal team to convert leads to closed transactions in markets where the agent doesn’t provide individual or team coverage.”
The technology represents a new path of growth for the cloud-based brokerage’s agents, during a year that has seen first-quarter revenue drop 16 percent annually for the firm, company leaders said.
“We are challenging our agents to step outside of their comfort zones this year and boldly navigate new technologies in pursuit of growth and progress,” Leo Pareja, chief strategy officer for eXp Realty said in a statement. “And that’s exactly what we are doing as a company, beginning with the launch of My Link My Lead. As the most agent-centric brokerage on the planet, our top priority is to help our agents grow their businesses, and My Link My Lead was designed to do just that.”
EXp’s in-house portal accounted for less than 1 percent of the total real estate web traffic throughout 2022, according to a recent study from OpenWeb. Most in-house portals by brokerages struggle to compete with the traffic generated by listing portal giants like Zillow, Realtor.com, Homes.com and Redfin.
The same study found that the portals owned by brokerages such as RE/MAX and Compass accounted for only 1.5 and 1.3 percent of total real estate web traffic during 2022, while the portals operated by Coldwell Banker and Keller Williams each made up less than 1 percent.
