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uber Netflix Amazon and exp royalty what do all these companies have in common well they're all cloud based companies and in this video I'm gonna be teaching you exactly what I call brokerages and we're getting after it right now [Music] [Music] hey what's up everyone this is your host Jesse Dao coming to with another episode of the cloud-based real estate brokerage podcast where I interview the industry's leading real estate agents team weeds and broker owners and get behind the scenes look and peek under the tent of exactly why they decided to partner with exp Realty and if you want to get more information you can start now by tapping that subscribe button and hit that little bell so you're notified each and every time I drop in a video and honestly we're getting so many people reaching out asking questions making them move over to exp and we absolutely love it so if you want to get a hold of me you've got to give me a call shoot me a text send me an email or even send that pigeon carrier however you want to get a hold of me I got your back when making a move to exp reality so in this video I'm gonna be teaching you exactly what a clog brokerage is so to start this off what is a cloud-based company and what do they use a user like myself pays a monthly fee to use systems services tools and applications that are housed in one central system essentially when you look at companies like uber they don't own any taxicabs yet they're the biggest shared transportation company in the world you take a look at a company like Airbnb they're one of the biggest travel companies in the world yet they don't own any hotels all they do is they own a technology asset that allows people to connect and that is exactly what exp has done they've got rid of the traditional brick-and-mortar they put all the resources and all the technology into one central system that the agents can use and we pay a monthly fee of 85 dollars to make sure that we have access to all those tools and systems so you might be thinking yourself who is this maniac that would ever create such a system my cloud-based real estate brokerage well let me tell you who the man is behind the scenes so Glen Sanford is the founder of EXP relative he actually got in the real estate business in 2002 he worked at Keller Williams hit a very successful team doing about sixty million dollars a year in production and then he realized that the real estate agents and brokers do all the heavy lifting and deserve benefits from being a shareholder and income based on their level of contribution he wanted to create a model called compensation by contribution and that's exactly what he's done here so in 2009 Glen launched the first-ever cloud-based real estate brokerage and since then it's been a monumental shift in our real estate industry exp is growing in super rapid fashion and now we are up to thirty thousand agents and then in 2013 exp became a publicly traded company in 2015 exp launched their equity icon program and really what the agent equity program is it is agents are allowed to participate and becoming shareholders for example when you close your first transaction you get shares when you cap you get shares when you cap and then do 20 more transactions you then qualify to what is called an icon agent and once you become an icon agent you get an instant eight thousand dollars back in stock options and you have the opportunity to earn an additional eight thousand dollars through some culture programs since the cap sixteen thousand dollars this is basically like exchanging your cap for exp stock options and how is all of this possible like I was mentioning when you're a cloud-based company you can house all of your data all of your technology all of your resources in one central hub and we you don't have brick-and-mortar where people actually have to go to every single day to get this information it makes everything super accessible and easy to translate into different languages and the different philosophies different programs cuz different countries do real estate differently that's why when you go to our hub and our main website it asks you what country are you looking for information from whether it's Canada the UK or America everyone deserves to have their programs to fit their industry markets because the way that we do real estate here in America is a lot different than the way that they do real estate in Australia and then in 2018 exp was named pyke Gloucester is one of the best places to work they were also introduced to the Nasdaq and had launched into all 50 states and then they were named by Inman as one of the most innovative brokers in the world so it's cool to see that in 2009 exp it just started in 2014 they become a publicly traded company at the end of 2017 they'd hit 10,000 real estate agents well this year in 2020 quarter one we had 10,000 more agents join in one quarter alone so you can see how fast and how rapid exp is growing and we are now up over 30,000 agents and on a consistent rapid incline month over month and at the backbone of the exp cloud company is their core values and what shapes the culture these are things that I find are the most important traits of a company and what actually makes you understand whether a company is legit or not if a company has core values and they live them every single day and if your agents are actually thinking about them when they're out there talking about the company or making business decisions I think that is when they've actually made an impact you know and what are some benefits of a cloud-based company versus a traditional brick-and-mortar business well in a typical franchise model you know there's tons of costly overhead franchise fees and duskies if you belong to any big brokerage you're typically going to have those types of expenses they're always refined to the local franchise owner so for example if you work for a specific franchise in your market you typically can't work with the other agents like hold their houses open if they're not part of your market center at EXP we can work with any agent in the world it doesn't matter where they're located we can hold any other exp agents house is open there's just so many great benefits by not being locally confined with more of the traditional models they typically have very very minimalistic incentive programs whether it's profit sharing whether it's production you know it's very inconsistent it's very up-and-down so say it's a profit sharing program you might get $400 one month the next month you might get $1,200 or you might get zero for years the thing is it's always based on the profitability of the company and the key difference between exp and most of these other profit sharing companies is that exp it's all on the revenues so when you pay your cap of $16,000 exp is committed that they're gonna give back 50% of the company dollar back to all of the agents so that's where that revenue share comes from revenue share is coming back from their company dollar not from the agents you know and I found a traditional model is that they really have limited resources and supplies and if they're trying to implement a new process or a new system there's typically a big learning curve with that and a lot of teams or independent agents typically are using different systems what exp gives you all those items so you just plug right into the systems and you can use whatever they have available I will say that you are allowed to use whatever you want they're not holding you to the fire on that on using their tools and systems it just makes it a lot easier if you are plugged in but they are using top-of-the-line systems like kV core sky slope digi sign and then they have a lot of affiliate partners that provide a lot of resources to us and let's get into the live training for a minute because this is one thing that is probably the most crucial differences between exp and a traditional real estate company is is we have more than 50 live trainings every single week so you have to be an icon agent to even teach a class so you're learning from the industry experts and leaders a lot of these classes are recorded so you can go to the on-demand library pull up a class watch this TV you know when you're at a traditional brokerage of the brick-and-mortar if it's a big company they'll have one training a day if you're lucky and you know some of them have one guest of week some of them have one guest a month but when you talk about the top agents most offices have a few top agents you guys know who they are but they're typically too busy for you they have too much going on they don't have time to share with you so then guess what you're not learning from the best of the best here the agents are actually rewarded to train classes to teach to be givers to be business builders and that's a big difference here at exp I get on calls with the top producing real estate agents that are in my organization every single week they're on calls with me with other agents if you're looking at coming to exp and you have questions say you're a broker and you're wanting to get in the exp and you're like Jesse doesn't know enough about owning a brokerage I want to know the difference is well I get Chuck Fazio on the phone with me so he owned the biggest real estate brokerage in the world 900 agents 2 billion in production and came to exp so those are the people that I work with those are the allies and assets that I get to work with every single day so it just makes it fun it makes it very transparent and creates very very good dialogue within the organization and outside the organization that's really why I created this channel was to educate the outside to give you it looks on the inside to see what's going on and why everyone is excited about exp you know with everything going on in the world I don't think there is ever gonna be a better time to make the move and establish your business at exp and the reason why I say that is you take a look at something like koga that's happened our business did not shut down our brokerage did not shut down we were thriving through the epidemic and we continue to drive our real estate business and our personal growth in a positive momentum and this is exactly what you can do and like I've said a million times before I am an open book and I have so many people calling me getting information making the movie XP and saying it was the best decision of their life just like I thought when I made the move and the biggest thing that I hear every single person say is once they get in here is that they wish they would have done it sooner it's not only me selling the agents I talk to its every top person real estate agent in the world and if you want to get a hold of me you've got to give me a call shoot me a text send me an email or even send that pigeon carrier however you want to get a hold of me I got your back we're making a move T exp royalty and until next time I'll catch you later [Music]