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Hosted by brent gove
3 episodes with brent gove
7 episodes with brent gove
2 episodes with brent gove
2 episodes with brent gove
2 episodes with brent gove
2 episodes with brent gove
3 episodes with brent gove
Episode Overview In this episode John sits down with top recruiter, team builder, and Honey Badger OG James Massey to explore what it really takes to succeed in agent attraction today. With over 1,000 agents in his organization and 67 personally sponsored, James breaks down the simple, repeatable process that continues to drive exponential growth. They dive into why now is the best time for agent attraction, how to build a scalable system, and why making the right offer matters more than ever. If you're looking to grow your real estate business beyond just sales and want to build true leverage, this episode is your roadmap. Key Topics Covered Creating Conversations That Convert Why starting with an agent's goals opens more doors than leading with EXP. How James uses the term “the model” to generate curiosity. Turning co-op agents from transactions into top recruits. The 3-Step Agent Attraction Framework Watch the video → 3-way call → Invite to an event. Why James never just sends the video—he books time to watch it with them. The power of walking agents through micro-steps instead of asking them to leap. Crafting Offers That Solve Real Pain The difference between vitamins and painkillers—and why your offer needs to hit a nerve. Stacking value until it's “stupid to say no.” Making it about partnering with you, not just joining a brokerage. Three-Way Calls: The Underrated Secret Weapon How to position a 3-way call as a benefit, not a sales tactic. Matching the right expert to the prospect's pain. James's exact script and tone to make the invite feel natural and non-salesy. Scaling with Simplicity How James uses his “Agent Builders” Facebook group to house everything: tools, training, wins, recognition, and more. Why organizing your value stack and resources is a leadership skill. Teaching agents to be resourceful instead of dependent. Effective Follow-Up Without Being Pushy Why follow-up should feel like offering value, not chasing. Leveraging events and content to deepen connection. The importance of knowing the next step before the conversation ends. What EXP Is Doing Better Than Ever How EXP's Directors of Growth are changing the agent onboarding game. White-glove concierge support for onboarding teams. Why EXP 2024 is built for scalable, low-friction recruiting. Resources Mentioned Agent Builders Facebook Group – James's private group for training & resources Brent Gove's EXP Explainer Video – Used to create emotional connection HoneyBadgerNation.com – Community tools and EXP resources Fast Track Program – EXP's new onboarding experience Built to Last & Go Pro – Foundational network marketing books 100M Offers by Alex Hormozi – A blueprint for building irresistible offers “The best offers aren't benefits—they're painkillers. They solve something people are struggling with right now.” – John Kitchens Connect with Us: Instagram: @johnkitchenscoach LinkedIn: @johnkitchenscoach Facebook: @johnkitchenscoach If you enjoyed this episode, be sure to subscribe and leave a review. Stay tuned for more insights and strategies from the top minds. See you next time!
Brent Gove shares ideas about dealing with struggle
Brent Gove and Eric Lofholm discuss the power of a victorious mindset.
Brent Gove shares the system he has used to build his eXp organization.
Brent recently attended a high level mastermind meeting where he was with Tony Robbins and a small group of 25 people. Brent shares what he learned.
Brent recently attended a high level mastermind meeting where he was with Jordan Peterson and a small group of 25 people. Brent shares what he learned.
Brent shares success ideas.
Brent Gove shares ideas on what to do over your next 10 days
Brent Gove shares ideas about living a dynamic life!
Brent and Eric share ideas about what Brent learned at the John Maxwell Conference
The 2025 Agent Attraction Kickoff, hosted by Jesse Zagorski, emphasized building revenue share groups at eXp Realty through effort, dedication, and dreaming big. The event introduced the "Agent Attraction Finds Your Fit" series, starting the following Thursday, and highlighted the success stories of various agents and team leaders, showcasing diverse backgrounds and strategies for growth.Several eXp leaders, including Brent Gove, Galen, Mike Brown, Dan Gomer, and Kim Renshaw, shared their experiences and strategies for agent attraction, focusing on consistency, dedication, and the importance of recruiting the right agents. Brent emphasized creating financial freedom through real estate, playing the long game, and achieving success through personal growth, time management, and genuine connections.Brent Gove specifically discussed the importance of creating a "cash flow river" in real estate, where money works for you rather than the reverse. He underscored the value of recruiting agents by drawing parallels to successful brokerage models like Keller Williams and Berkshire Hathaway. Brent highlighted the necessity of focusing on mid-level agents—those selling at least 10 homes annually—rather than pursuing high-profile agents, as this approach fosters steady growth. He encouraged participants to invest in long-term strategies, align their goals with financial freedom, and leverage networking events like the upcoming Cabo gathering to build meaningful connections and expand their influence.
Brent Gove and Coach Randy Byrd share team-building ideas for 2025.
Brent Gove and Eric Lofholm share ideas about positivity.
Brent Gove shares the power of Life Changing Events
Brent Gove shares ideas about how to create leverage in your real estate business and in your life.
On this podcast, Brent Gove shares great ideas about how to create momentum!
Brent Gove shares 10 keys to leadership.
Brent Gove shares ideas about getting the buyer contract signed.
Brent Gove shares ideas to help you be more successful in real estate
Successful businesses AND Significant lives—that is the definition of Thinking Bigger and the message we are sending to all real estate agents.You can have BOTH.The only caveat is that you MUST surround yourself with those who value significance.What is significance, and how does pursuing a significant life drastically increase one's ability to have a successful business?These questions are answered in this episode.Be sure you DO NOT miss our conversation with the one and only Brent Gove, the leader of a 21,000 real estate organization who got to where he's at by choosing significance.
In today's episode, Matt is LIVE from PROPEL 2024 to chat with eXp Realty legend & industry maverick Brent Gove about his incredible real estate journey, 10x his sales, the brilliant eXp revenue model, living the nomadic lifestyle, work-life balance, as well as game-changing advice for all entrepreneurs.
Join me and my good friend, Brent Gove in an empowering episode of Real Estate Real World, where he shares invaluable insights on why "From Doubt to Dominance: The Journey to Making eXp Realty a Billion-Dollar Powerhouse!" In this discussion, Brent dives deep into the world of real estate, offering expert advice and strategies for success. Don't miss the opportunity to transform your real estate journey – hit play now at www.RealEstateRealWorld.com and take actionable steps towards achieving your goals!
Brent Gove and Eric Lofholm share ideas about having a great 2024!
Brent Gove shares ideas on how to grow your organization by doing live and virtual events.
Brent Gove and Eric Lofholm discuss how to succeed in the current real estate marketing.
Brent Gove and Eric Lofholm discuss the idea of momentum. Enjoy this great conversation about how momentum impacts results.
Brent Gove and Eric Lofholm discuss the concept of hunger and how it plays a key role in creating results.
Brent Gove and Eric Lofholm share ideas on having a great summer mindset!
Brent Gove and Eric Lofholm talk about an agent's first 30 days at eXp.
On this podcast Brent Gove shares ideas on how to grow by leveraging events.
Brent Gove and Eric Lofholm talk about the importance of passion in business.
Brent Gove and Eric Lofholm discuss how to create leverage in your real estate business.
The real estate market is changing. We are in a winter market. Brent Gove and Eric Lofholm talk about what to do in a changing market
Brent Gove and Eric Lofholm discuss how to get listings today that close right away so you can get paid now.
Brent Gove and Eric Lofholm share success tips.
During this podcast episode Brent Gove and Eric Lofholm discuss how thinking impacts results. There are a number of golden nuggets shared on this podcast.
Get ready to be F.I.R.E.D U.P! We've got a superstar guest with us today, Brent Gove! Brent has sold THOUSANDS of homes and has helped THOUSANDS of agents. He will share his secrets and how he became a superstar realtor. Do you have a question that you would like me to answer? Just fill out this form: https://docs.google.com/forms/d/e/1FAIpQLSeIi0Skg5OfhHAp-7NPdgkdAhb9ahJyAdicRZ7XL62EPLh8QA/viewform JOIN MY FREE CHALLENGE HERE >>>> limitlessprosperitychallenge.com buildevent22.com themodelexplained.com
Brent Gove is the king of Sacramento real estate. He's been building his empire brick by brick since 1997 and shows no sign of slowing down. Today, he and his team sell hundreds of homes every year. A world traveler and in-demand speaker, Brent is the author of 'Momentum', the definitive resource on how to become a super-agent. Brent continues to crush it with eXp Realty, and now he wants to share his wisdom and story of success with you!
Brent Gove and Eric Lofholm talk about success principles for life and business.
Brent Gove talks about how to respond to the current market shift
A little morning motivation. Notes are from Brent Gove's team meeting 5/12/2022
Brent Gove shares ideas on how to build your organization.
WHY Join eXp in 2022 [THE MODEL EXPLAINED WITH BRENT GROVE, LAURIE DERICKSON AND KALENE ZAABADICK]
Eric Lofholm goes over the BrentGove.com website
Brent Gove and Eric Lofholm discuss talking the long term view to grow your real estate organization.
Brent Gove and Eric Lofholm discuss inviting to events.
After experiencing a failed business, Brent Gove was down to living on frozen bread and jelly for his family of four while living in a room at his brother's house. Brent was humiliated and bankrupt, wondering how it all happened. However, he never waivered in his faith or his ability to get through the tough times. Brent knew he had to put in his time. He knew he had to do the work and put in the reps. Like a baseball player taking ground balls everyday and basketball player taking hundreds of shots a day, Brent knew what he had to do. Now Brent is one of the largest revenue share producing agents at eXp Realty. He has a podcast and has authored a book. His willingness to help others live the good life is inspiring. If you are looking for energy and encouragement, look no further.
Brent Gove and Eric Lofholm discuss why now is a great time to attract new agents into your business. They also discuss how to use business planning clinics to attract agents
Eric Lofholm interviews Brent Gove about mindsetsBrent shares his mindset ideas about bringing energy to your business, building your eXp business leveraging events, and how to prepare mentally to prospect.This is a great podcast to listen to more than once. It is also a great podcast to share with your team.
On this podcast, Brent Gove and Eric Lofholm talk about some recent MASSIVE inspiration Brent had on a jet at 50,000 feet. This podcast is loaded with great ideas to help you become more successful. This is a great podcast to listen to more than once. It is also a great podcast to share with your team.
This is a bonus episode of a Q& A with Brent Grove who has recruited thousands of agents. Find out how he does it!
In this episode, we recap some of the best moments from the 2021 eXp Build Conference, the next steps once you start attracting people, where you can advertise, other eXp tools to recruit agents, how to message people, and so much more. This Dallas conference was organized by Brent Gove, who managed to hire Tony Robbins to come speak!
LIVE FROM LINCOLN CENTER IN DALLAS TEXASTHIS THURSDAY @ 1:00PM CSTAndrew and Clifford partnered in 2019 to create the independent residential brokerage, BLANQ MOR Real Estate Group servicing the Greater Charlotte and Lake Norman areas of North Carolina. While most real estate agents build their business gradually over time, Andrew and Clifford went ALL-IN with a “build it and they will come” mentality. So far, they seem to be on to something as they're currently on pace to close over $60M in only their 2nd full year. “We want to be a company that, not only talks about the power of a positive mindset but lives it by having people walk out of here better than when they stepped foot in the front door,” Andrew says. After Andrew attended a Brent Gove event in Scottsdale this past spring he came back on FIRE!! After discussing the opportunity, he and Clifford jumped in head first to move both their residential and commercial teams over to EXP bringing over $150M in production collectively! Andrew, a 3rd generation Real Estate professional is the Managing Broker for BLANQ MOR Real Estate Group in Charlotte, NC. Having worked his way up the ranks at another top-producing team in his market, Andrew credits his Grandfather who owned and operated a residential real estate brokerage for over 30 years as his inspiration for creating his own Real Estate company. His hard work, charisma and passion for the business helped Andrew been recognized as a “Top 200” agent in his local MLS (20k+ agents!) for the last 5 years in a row…Andrew specializes in all facets of the residential Real Estate business but truly shines when it comes to building a powerhouse network of Real Estate professionals around him. He takes great pride in his ability to train and support new or newer agents into the business in order to help them establish sustainable careers in real estate! Clifford's real estate brokerage career began at a small boutique commercial firm in Concord, NC (just outside of Charlotte) in 2014. I didn't know anyone when I moved to Concord after college and did any deal I could get my hands on at the time including property management. My strategy was to network, knock on doors, mail letters, and use social media to gain opportunities. After a couple of years of pouring my blood, sweat, and tears into learning CRE, I decided to open Blanq Real Estate so that I could mentor others and create a legacy in CRE.
Since 1997, Brent Gove has been successfully selling real estate in the Sacramento area, following the example set by his parents, both long-time real estate agents. He and his team now sell hundreds of homes annually! Having sold over 4,000 homes in the past 23 years and the #11 World Wide Agent for his former home, Re/Max, along with running one of the largest Keller Williams franchise in the country, he is now with eXp Realty. He's the popular host of a Top 10 radio show “The Real Estate Report with Brent Gove” on KFBK. A world traveler and in-demand speaker, Brent is the author of the newly published, “Momentum”…the definitive resource on how to become a super-agent. Brent is passionate about both inspiring and teaching agents to not just be great ‘Sales' agents, but actually build a lasting Real Estate Organization through eXp Realty's platform and be an ‘owner'!! He currently has over 15,000 agents in his Organization. eXp has changed the way agents and brokers are compensated by owning a piece of the company through stock acquisition and participating in Revenue Share. Brent has been able to create a legacy that will go on for generationsHis greatest and proudest achievement is his 28 year marriage to his amazing wife, Kathy, and their 7 beautiful children. Connect with Brent Gove:Website: https://www.brentgove.com/Facebook: https://www.facebook.com/brentgove/Instagram: https://www.instagram.com/brentgoverealestate/?hl=enYoutube: https://www.youtube.com/channel/UC6n10lIxfuZpoD8T3Fi58jA/videos You can purchase Lauren's book “Finding Your Silver Lining in the Business Immigration Process: An Insightful Guide to Immigrant & Non-Immigrant Business Visas” here- http://bit.ly/silverliningimm Connect with Lauren Cohen:Website: https://ecouncilinc.com/goglobal/Facebook: www.facebook.com/ecouncilincYouTube: http://bit.ly/YT-LaurenesqLinkedIn: www.linkedin.com/in/ecouncilincInstagram: https://www.instagram.com/lauren_cohen_esq/Email: founder@ecouncilglobal.com
Brent Gove has been selling real estate at a top national level for over two decades. He shares all his success secrets with you via engaging guests and incredible content. Now at eXp he has created a 10 figure annual income through Building a Real Estate organization with eXp and wants to teach you how to do the same! “If you want what I have to do what I did” Brent Gove
Brent Gove has been selling real estate at a top national level for over two decades. He shares all his success secrets with you via engaging guests and incredible content. Now at eXp he has created a 10 figure annual income through Building a Real Estate organization with eXp and wants to teach you how to do the same! “If you want what I have do what I did” Brent Gove
Brent Gove has been selling real estate at a top national level for over two decades. He shares all his success secrets with you via engaging guests and incredible content. Now at eXp he has created a 10 figure annual income through Building a Real Estate organization with eXp and wants to teach you how to do the same! “If you want what I have do what I did” Brent Gove
Brent Gove has been selling real estate at a top national level for over two decades. He shares all his success secrets with you via engaging guests and incredible content. Now at eXp he has created a 10 figure annual income through Building a Real Estate organization with eXp and wants to teach you how to do the same! “If you want what I have to do what I did” Brent Gove
Brent Gove has been selling real estate at a top national level for over two decades. He shares all his success secrets with you via engaging guests and incredible content. Now at eXp he has created a 10 figure annual income through Building a Real Estate organization with eXp and wants to teach you how to do the same! “If you want what I have to do what I did” Brent Gove
Brent Gove, "Live by your calendar, not your emotions", CEO of The Brent Gove Team at eXp Realty shares his story on Global Luxury Real Estate Mastermind with Michael Valdes Podcast #174 Brent Gove has over 20,000 people on his team. He is one of the most successful agents at eXp and is passionate about motivating others to achieve success. He is responsible for organizing masterminds that bring industry leaders from around the globe. His next one will headline Tony Robbins where 6,000 people are expected to be in attendance. More About Brent Gove: Since 1997, Brent Gove has been successfully selling real estate in the Sacramento area, following the example set by his parents, both long-time real estate agents. He and his team now sell hundreds of homes annually! Having sold over 4,000 homes in the past 23 years and the #11 World Wide Agent for his former home, Re/Max, along with running one of the largest Keller Williams franchise in the country, he is now with eXp Realty. A world traveler and in-demand speaker, Brent is the author of Momentum, the definitive resource on how to become a super-agent. Brent is passionate about both inspiring and teaching agents to not just be great ‘Sales' agents, but actually build a lasting Real Estate Organization through eXp Realty's platform and be an ‘owner'!! He currently has over 11,000 agents in his organization. eXp has changed the way agents and brokers are compensated by owning a piece of the company through stock acquisition and participating in Revenue Share. Brent has been able to create a legacy that will go on for generations. His greatest and proudest achievement is his 28 year marriage to his amazing wife, Kathy, and their 7 beautiful children. About Michael Valdes: Michael Valdes is the newly named President of eXp Global at eXp Realty. Previously Michael was the senior vice president of global servicing for Realogy Corporation, one of the world's largest real estate companies and parent to Coldwell Banker, C21 and Sotheby's. Earlier in his career, Mr. Valdes was Director of Private Banking at Deutsche Bank for just under a decade where he oversaw a book of business of just under $1 billion. He has the distinction of being the first Director in the United States of Latino descent. Mr. Valdes is the Chair of the AREAA Global Advisory Board and co-host of the 2020 AREAA Global Luxury Summit. He is also a current member of the NAHREP Corporate Board of Governors and a member of Forbes' Real Estate Council. Additionally, he is the Executive Chair of the ONE VOZ, Hispanic ERG for the firm and a member of Forbes Real Estate Council. He is a former Board Member of Mount Sinai Hospital in Miami Beach as well as the Shanti Organization in San Francisco. Michael was also a Board Member of Pink & Blue for 2, an organization started by Olivia Newton-John to promote breast and prostate cancer awareness.
POWER HALF HOUR with John Tsai and Brent Gove on January 6, 2021. To kickstart 2021, we have our one and only, Brent Gove this week! Brent has been selling real estate for 24 years and today his sales organization spans the globe with over 17,000 agents and brokers operating in 9 different countries! Brent will be sharing his story and top 3 things we can do to make 2021 your best year yet!!! ---------- What is the POWER HALF HOUR (PHH)? The Power Half Hour started in March 2020. It is a concise 30 minute interview with a top performer/influencer; usually in real estate. It was created with the intention to motivate, inspire, and influence realtors in their craft, and also keep us all connected. You can join in on these live Wednesday Power Half Hour interviews via Zoom or Facebook Live. Connect with John Tsai for those links. ---------- STAY CONNECTED with John Tsai Instagram https://www.instagram.com/tsairealestate YouTube https://www.youtube.com/johntsaiprec ---------- STAY TUNED for my upcoming coaching program and book! Coming Early 2021!
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Thank-You For Making Tim and Julie Harris' Podcast Real Estate Coaching Radio the #1 Daily Podcast For The Real Estate Industry. With Nearly 10 Million Downloads (and Listens) from over 50 countries Real Estate Coaching Radio Is The Trusted Podcast For Real Estate Professionals All Over The World. Join Tim Harris today for an exclusive -long form- interview with Brent Gove. Tim and Brent take the deep dive into what it truly takes to be successful in real estate for decades. Don't worry, this is a fluff free drilled down interview. Also you will learn all the fact (and figures) regarding eXp Realty and why eXp Realty is quickly becoming the worlds largest (by agent count) real estate brokerage. Text Me: (512) 361-5121 Schedule A Free Coaching CallListen on iTunesListen on SpotifyListen on Stitcher
3 hours of Superstar Real Estate Training for your next long commute!
Brent Gove was already a real estate “lifer,” having grown up to parents in the business who moved the family from Southern California to Sacramento when he was a kid. Brent joined the business eventually, too, and went on to success at ReMax and then Keller Williams that would make most agents envious. But, in 2016, he saw that there was a brand new way of doing business that was going to soon revolutionize the industry, so he made the leap to eXp Realty where he started his own team.At that time, the concept of virtual and cloud-based real estate organizations was foreign to traditionalists, and one broker even laughed in Brent's face when Brent told him about his plans. Although Brent is careful to point out that the broker wasn't being malicious at all, as well as the fact that ReMax and Keller Williams are both GREAT organizations with a lot to offer.But Brent saw changes coming and had bigger goals: to build an actual business, not just be as good a his sales, transactions, or even team every year, and eXP allowed him to do that.He's spent the last three years pounding the pavement, telling tens of thousands of agents around the country about eXP, all the while maintaining an elite home sales team in Sacramento, California that's on pace to out-out produce most of the other traditional real estate companies in California this year.(Yes, you read that right - his own personal team will eclipse the sales of some of the leading firms in their entirety!)Sure, the titanic commission checks are nice (he showed me one at my urging and I almost choked on my coffee!), but most importantly, Brent is having more fun than ever, helping a whole lot of people, - both homeowners and other agents, and building a business that will provide passive income long after he stops working or chooses to step back.Which leads me to the question:Who's laughing now?!Enjoy this podcast with Brent Gove of eXp Realty!-Norm :-)REMnorm.com
Brent Gove operates a top Sacramento, California team and has sold over 4,000 homes in the past 23 years. Brent is the former #1 Agent in all of California with Re/Max, ran one of the largest Keller Williams franchise in the country, and continues to sell hundreds of properties a year with eXp Realty. Brent is also the popular host of a Top 10 radio show “The Real Estate Report with Brent Gove” on KFBK. Why would Brent move his top producing team to eXp Realty?
After yesterday's episode with Brent Gove are started thinking about his comment about looking at the "model" instead of the "company". There is no doubt that the company I work for gets it's fair share of negativity, ant some of it is warranted. The real challenge is that the people who could have benefited most from it, might be "passing" on the opportunity because of the way they were originally approached. This, in my opinion is is the biggest downside. For those that are worried about building a business that includes generating income from other agents production, I ask you this... Would you turn down a referral fee to another agent because you simply provided them a lead? They will be doing all of the work, but will likely have no problem paying you 25% of their commission. My prediction, is that you'd have no problem doing that. Probably because it is the norm. So why is it such a concern to refer a company, and be compensated with a referral fee? In this episode, I share 3 stories of how the model I looked at, and joined, has put me in position to create an additional revenue stream. --- Send in a voice message: https://anchor.fm/learn-for-2/message
Here it is. Episode #200 “You Need To Start Coming From A Place Of Contribution” While I sat in a crowd of 1,000+ people conference in Dallas in March of 2019, I felt as if I were the only one in the room. As Brent Gove was speaking these words from the stage, I couldn’t help but feel that he was speaking directly to me. It really couldn’t have come at a better time, this was something I needed to hear. At the time, I was focused on building my International Real Estate team. It was going well, but there was one major flaw… I was only focused on myself and “what’s in it for ME”. How could I build MY organization? How could “I” grow faster? How could “I” benefit most? But when Brent said those words, I felt like a spotlight was shining on me, telling me that is was time to contribute in some way. Accepting that mission, I needed to figure out how I would contribute to others, in a positive way. Then it hit me! I love to learn, and I love to share what I’ve learned with others. Sometimes if they want to listen to me or not. So I decided to create a podcast that I would record every Monday through Friday and consist of 3 pillars. Learn with the intent to teach to others. Document my journey to build an international real estate team. Find my voice for those needing to hear it. With that in mind, the Learn For 2 podcast was born. Combined with Brent’s inspiration to come from a place of contribution, and Jon Cheplak’s philosophy of micro-commitments, here I sit at 200 episodes. 200 was never the goal. It is just a result of a micro-commitment that I made to myself, and a shift in mindset, to start… Coming from a place of contribution. --- Send in a voice message: https://anchor.fm/learn-for-2/message
In today's episode of Agent Attractors Podcast, we discuss Brent Gove story. For show notes and more information visit: https://www.kylehandy.com/brent-gove-exp-realty-story/
Powerful, profitable – and incredibly funny! The always charismatic Brent Gove joins us to talk about exactly how and why he joined eXp Realty – and provides a no holds barred description of how that’s transformed his business and life. READY TO LEARN MORE? Text EXP to 31996Visit Tim & Julie Harris Website OnlineSubscribe To Our iTunes Podcast Feed (Apple & IOS)Subscribe To Our Google Play Music Podcast Feed (Android)
In today’s episode of Agent Attractors, Brent Gove discusses agent attraction training. For show notes and more information visit: https://www.kylehandy.com/agent-attraction-training-with-brent-gove/
Brent Gove is a titan in the real estate industry, having reached the prestigious position of #2 in the state of California and #11 worldwide for RE/MAX, served as the CEO and Team Leader of the Roseville, CA market center for Keller Williams Realty, and has hosted "The Real Estate Report with Brent Gove" on Northern California's #1 Talk Radio Station. Gove is also a bestselling author for his book "Top Dollar".
Powerful, profitable – and incredibly funny! The always charismatic Brent Gove joins us to talk about exactly how and why he joined eXp Realty – and provides a no holds barred description of how that’s transformed his business and life. READY TO LEARN MORE? Text EXP to 31996Visit Tim & Julie Harris Website OnlineSubscribe To Our iTunes Podcast Feed (Apple & IOS)Subscribe To Our Google Play Music Podcast Feed (Android)
Brent Gove was a former Team Leader with ReMax, went to become a $100+ Million top producing team with Keller Williams and after seeing what eXp Realty had to offer, took his team and moved over to eXp within 10 days. In his own words "I liked Remax but I loved Keller Williams." Why would such a top producing agent who "Loved Keller Williams" make the move? On today's podcast Brent tells us what he saw in the eXp opportunity and what it has meant for him and his team. Are you EXP CURIOUS??? text: 123exp to 31996 for a 7 minute video on what it is all about. Join the conversation or catch the podcast live on our social media feeds @BusinessBrosPod Facebook, Instagram and Twitter. You can listen to past episodes on our website www.SiasFirst.com. Want to be on an episode of Business Bros the #1 Podcast in San Diego? Call 619-884-4915 or Send us an email BusinessBros@SiasFirst.com so we can get in touch with you ASAP. Contact James for all your Insurance needs 619-884-0045. FREE COACHING CALL REAL ESTATE AGENTS https://siasfirst.com/coaching/real-estate-agents/ WANT TO BE ON THE PODCAST OR WANT TO CONTACT THE BUSINESS BROS https://siasfirst.com/coaching/business-owners/ www.bensound.com
Joining us today is John Sterling. John's been in a number of markets and was previously with Keller Williams and most recently was in San Francisco California and is currently in Colorado. John's background is fairly extensive in real estate. John is known for his work in Europe and London as well as working with multiple team leaders and market centers and helping them attract agents. John talks at length about his challenges in real estate and really not really getting EXP at first. John I'll give you his insight in terms of why he ultimately moved from Keller Williams to EXP and he hasn't regretted it and never looked back. Learn More about eXp Realty - Click here to watch a quick 7 Minute Intro Video. Remember our disclaimer: The materials and content discussed within this podcast are the opinions of Kevin Cottrell and/or the guests interviewed. This information is intended as general information only for listeners of the podcast. Listeners should conduct their own due diligence and research before making any business decisions. This podcast is produced completely independently of eXp Realty and is not endorsed, funded or otherwise supported by eXp Realty directly or indirectly. Why EXP is growing fast Why Successful independent brokerages partnering with EXP Keep your Brand, grow your income with EXP Big benefits of being at EXP Earning publicly held stock. EXP listed on Nasdaq EXP innovating and game changing technology made simple Stay tuned for Part 2 Transcription Kevin: Welcome back to another episode of the EXP explained podcast. I'm joined today by special guest John Sterling. John's been in a number of markets. He was previously with Keller Williams and most recently was in San Francisco California and is currently in Colorado. John's background is fairly extensive in real estate. He and I met years and years ago when I was a team leader at Keller Williams and he was doing some leadership expansion and attraction of agents. Certainly if you're listening to this and you're from Keller Williams you're more than likely will know John from his work in Europe and London as well as working with multiple team leaders and market centers and helping them attract agents. John talks at length in my interview about his challenges in real estate and really not really getting EXP at first. So if you're a little bit skeptical and you want to hear from somebody who was right there where you were dug into it didn't pay attention to the rumors and misinformation in the market and did quite a bit of due diligence over about 15 months. John I'll give you his insight in terms of why he ultimately moved from Keller Williams to EXP and he hasn't regretted it and never looked back. Stay tuned for my interview with John Sterling. Kevin: Welcome to the show John. John: Hey thanks for having me. Happy to be here. Kevin: I'm looking forward to it. We are reunited again and I'm sure we'll get into a lot of that on the conversation today but before we do for people listen to the podcast that maybe you aren't familiar with your background and history and real estate and all that you've done. What did you take a couple minutes and just give a little bit of your highlights in terms of some of the stuff you've done. Because I've known you a long time and I know you've accomplished a lot. John: Oh well thank you. Yeah I'll keep it short and sweet. So I started my real estate career in Chicago back in 2002 it was with a traditional firm then they had a great training program. So I got up and running very quickly. There were some changes there so I went off and started my own brokerage after about two years and then eventually merged that with Keller Williams back in 2004. My time at Keller Williams was mostly spent opening up new offices and markets where we didn't have them. And most of that work was before the financial crash and after the crash I was the guy who would go fix these struggling offices. So it involved a lot of moving. So I got to go all over the US and then even opened up our London office. So I was in the UK for two years. Packed my flat on Brexit vote day and came back to the U.S. and had been engaged in real estate and just sales in San Francisco and Denver ever since. Kevin: Fantastic. And you're very modest. I mean I first ran into you I probably was about two thousand five or six when I was in St. Lewis with Keller Williams And you were part of the group that was essentially acquiring market centers and expanding and you guys were rocking and rolling and obviously lots changed for everybody after the market shifted. I was excited and it was a long very detailed due diligence process before you moved over to EXP you and I had conversations over I don't know probably 15 months or so. And I think for people listening because the whole genesis for this podcast is to allow people you know it doesn't have to just be a Keller Williams but people that run their real estate business like a business and are seeing all of these agents like you were changing brokerages and coming over to EXP. I remember like you like everybody else had healthy skepticism. You wanted to understand it you were from the outside you were part of a gigantic franchise system and there was a lot of misinformation and noise out there in the marketplace. What is it that you learned that really caused you to start to shift your mindset and say I need to dig into this further. John: That's a good question. As you mentioned you know it was a long process for me it wasn't an overnight type of thing and I'd been paying attention to EXP for a long time. In fact I remember when Glenn the CEO was with Keller Williams back in the late 2000s and he left the start yet. And it was you know I just thought it was an interesting move and I was doing some unique things in the business but didn't really give it much thought. I was happy. Keller Williams still think they're an amazing organization. So I don't have any you know any issues with Keller Williams. It seemed like a better opportunity and fit for the future that I want to create and kind of where the business is headed so the things that got my attention over the past few months and ultimately led me to making the move is that you know I had ignored EXP for a long time as you mentioned a lot of people do this. And the people I've talked to who are in the process of joining you know people who are my friends who never would have given it a second glance if it wasn't me calling. You know it was or someone else. The gist of it was there is a lot like you said misinformation or half truth is I'd like to explain it which is understandable. You know it's like EXP has come out of nowhere. I have never seen growth like this in the real estate business and I was with Katie when I early days when it was growing like crazy. But even they didn't see growth. This is great. So there's just a lot of fear from the incumbents that they're going to get squashed because if he keeps up this pace then they're going to have some serious problems. Kevin: So it is interesting I want to touch on one point because that is something that you know you hear the comments of well they can't keep up growth at this pace or I can't believe they're growing that fast or there's no way they could be growing that fast. And I'm going to touch on something in the franchise system you know there's very well Gene Frederic knows it well I know well we'll come out of the same franchise system when somebody goes to expand a franchise system, this is for listeners to understand and why EXP can sand grow so much quicker. I'm going to contrast the two let's say that John and I are in the franchise system and we decide we're going to open up an office in Palo Alto California and we get a conversation going with a great great huge player hugely influential big producer and the producer says hey John and Kevin I'm ready to join. I want to do something with you. How do we get started in Palo Alto. And that starts the clock in the process right. And they have to go through the approval process and there's a whole bunch of steps involved in the point that I'm making here is from that conversation assuming you get some sort of a green light go I'm willing to do it. There are steps like getting an investor getting it approved getting the franchise awarded in the net net on it is on average it's 14 to 18 months before mega agent key influencer walks in the door of an office or can announce that they're part of that Palo Alto location hypothetically. Now when John and Kevin have a conversation with that same agent in Palo Alto. And assuming they're excited about the EXP and they due to due diligence. We're having them change brokerages in as fast as 10 days. I mean you listen to Brent Gove's interview. He made the decision in 10 days or less with one hundred and fifty million dollar team. It's unheard of. In the franchise systems. Now the follow on to that is when like we had in San Diego we had Daniel beer Carl Wessel and Mary Maloney and all of the others joined in it like a really short 10 day period EXP because they're influential has tons and tons of agents joined after it. So for somebody and I want to get your perspective on this from the outside we you're seeing these mega numbers of agents right. You know a thousand plus fifteen hundred plus agents a month and you are. In the franchise mindset or a bricks and mortar mindset where you're used to being in a physical location. Many many people. And this is why I think that they talk about this. Not being sustainable. Look at it and go. There's no way they're going that fast. We never did. We can't. How can they. And I think that that's the driver is John and I can go out and have hundreds if not thousands of conversations as well as every other agent that EXP. And if somebody says go. It's like when you say go it wasn't very long before you were alive and over at EXP. You actually were waiting for some things. To occur in your business world. But from the process where you're like OK good. I'm ready to go. It was fairly quick. It wasn't like the franchise world. John: Yes. All of that's true. Interestingly enough probably the most fascinating part to me is the large number of independent brokerages so they're not affiliated with any franchise or big regional company. You know he could be one person or a few dozen agents. You know it's typically the size of these things of those types of organizations that are going to need EXP. That was eye opener for me too because it's a fairly common thing in our business for people to get a little experience and then decide they'd like to be their own boss. They want to be their own broker so they leave the company that they started with they got some training or whatever else they're no longer working under someone else's brand they start their own. So it happens all the time. So the fascinating part is how many people have gone through that process achieve their independence so they have their own business with their own branding and their boss their names above the door. I can tell everyone in our neighborhood that they own the company and they're still coming to EXP. So they are profitable businesses that are doing well. They're helping businesses that are growing. Everybody's happy. And even with all that they're still choosing to partner with EXP. So they just see that there is more value with EXP you know from a small item I'd have to pay every year through their split the system was just good for agents at any level. But it's the big winners are the ones who were showing up with teams which are essentially you know they could be standalone brokerages but these big agent teams are like you mentioned they're moving very fast. Then you have the small brokerages who are looking for some more leverage because if you're a brokerage that has 20 or 30 agents you're probably still selling right. It's probably not making enough from the agents splits in order to support yourself. You're probably still selling yourself. So that's just a lot of work. Like you have to manage all these people and you have to do your own business well with the EXP you get to leverage a lot of the stuff that's already built in for very low costs. You can send your agents the training or bird virtual campus any time you are reading online. You can then go hire more people because you don't have to babysit them all day like there's no 30 or 40 training events we have every week. I don't think you can just sit down in front of the computer and say OK here are the training you need to go to go to these and come to me with questions. It's much more leverage and just a much better way to scale. So that was an interesting thing that I discovered just as I paid attention to all the people who kept showing up. Kevin: So absolutely and one of the things just to echo what you're saying and this is happening all the time in fact there's one by the time this goes live that's in the Dallas Fort Worth metro. They have ninety five agents. They're an independent and you know the model is almost this hybrid model which we're seeing pop up more and more where the broker/rainmaker is a weather pick your flavor. Right. Zillow preferred or premier whatever the program is and they feed their agents. And so the lead gen side they've got wired right they might be spending one hundred thousand dollars a month in this case. And what was interesting is she was so excited about EXP. Her biggest concern is I don't know if this is going to translate throughout my key people right? My leaders within my office and then the agents downstream. And what was interesting is Gene and the leaders were in town meeting with this Rainmaker and the key people and he called me yesterday afternoon and his conversation is "I only stayed half a day because they all get it. I met with a handful of people". I talked to him again this morning and he said we're done all ninety five or come and they're just basically working on the onboarding process with ninety five agents making sure everybody's applications and the revenue share piece is set up correctly. That is the wave of the future. I mean I've talked with people within the company they're talking to 25 agents smaller brokers and the driver for that. And if you think about the NRA numbers 55% of the agents aren't independents right. It's the biggest piece. We spent a lot of time talking about franchise systems. They're more in franchise system likes to tout that they're number one but you had the agents that are at independence. It's way bigger than they are. And so when you look at the opportunity this is the next big wave that's occurring. And you talk to these broker owners I'm talking to some in the United States in the southeast U.S. And the number one thing they say is they love being producers. They love mentoring and training agents. They love the Legion and helping people in the case of this this gal in the Dallas Fort Worth area. She'll be on the podcast shortly but what she's going to tell you is I don't like being a broker. I'd rather be brokered by EXP get out of compliance get all the systems and all of the things in place and just go do what we do well the brokerage stuff is not sexy. The brokerage stuff is not fun. The compliance stuff nobody enjoys. Previous to EXP it's been the necessity right. You didn't have somebody that said hey keep your brand keep your look and feel. Go do what you do well and then we'll take over all the other stuff. John: So it really is the best of all worlds. And I think that's really I mean just spending years and years.... I mean all again all over the US and even in Europe. One of the hardest things to overcome when you're having conversations with people about joining your company is it's really just ego. They like that their name is above the door. They like to tell everyone in their world that they own the company and the fact that that's happening at EXP is very telling. We've overcome that objection. You know people are like oh it's like well I could still on my company. It's just kind of you know using some of the EXP stuff too which is great. I mean this is it's a huge advantage for us just because it's you know the more or people show up the more examples we have to point to and say See we told you everything worked just fine except you're you're growing faster and you have fewer headaches. Kevin: Yeah. You know and part of what you did John is you talk to over the course of when you talked about turning around market centers and moving around there was a long period of time where I consider you a non team leader Team Leader. In other words you were having conversations with hundreds if not thousands of agents but virtually on the phone at conferences. So you've got a pretty good basically a take on mindset of agents. You personally were responsible for many many agents that went into Keller Williams When you look at this. John: You wanna know my number? Kevin: Yeah What is your number? I was going to ask you next. John: I had my office lady look it up before I left Keller Williams. I directly recruited sponsors like brought to the company just me but named me as the reason they were with Keller Williams one hundred and sixty two before I left. And there were many many more of those that like top of a hundred sixty two that I recruited on behalf of other people because that was my job right. So it was really just a hundred sixty two that I found on my own. And then as you know it's like hundreds or like you said I don't know how we'd be able to tabulate that but we'll just say north of a thousand. Kevin: You've got a great take on this you know so enjoining EXP and you know coming from a franchise system. If I'm an agent. Whether I'm a rainmaker on individual age a mega agent and I'm an expansion agent that's thinking about this. What are the two or three things that you think that. You learned about it that if you were on the phone with these people going forward you would say you really have a couple of options you could go to a franchise system or you go to EXP. And here are the big benefits of being at the EXP. John: Yep that's a good question. So if I had to put it in bullet form first the money has to work right. You know it's a Financial decision this is a business like we're in business to make money. So we do other things too. There could be a bigger purpose for our you know working in real estate but like the math has to work. So the. That was a good thing for me because you look at EXP everybody is on an 80 20 split the 20 percent caps at sixteen thousand dollars a year no matter where you are compared to my San Francisco office with Keller Williams where I was paying fifty thousand dollars she here is a cap. I mean that alone by you know in two hundred eighty dollars a month in an office these you know it's just a huge expense to be there now. Sounds like you don't have to do to any deals the same let's go to cap but still like I can have that same environments like comparable stuff or even better tools and only pay sixteen thousand here. So that seemed like a much better deal to me. So that was part of that. There's you know a small transaction fee after the after the sixteen thousand but it's nothing substantial nothing to worry about. In addition to that there are certain ways you can earn a publicly traded stock. So it's not privately held. There's not a king of EXP it's all up it's on the Nasdaq. It's a publicly traded company. So for longtime I guess it's a good side note just as far as this goes that EXP was traded on the OTC exchange. So it's just another stock exchange out there. But the trick with that is that it's there's not as much liquidity because it's not like you know we'll call Big Boy exchanges. So really it's like you got to be a publicly traded company you want to be on one of the big exchanges in the US. That's the New York Stock Exchange with the Nasdaq. I go to the two that are reputable and that's where you want to be. So earlier this year another sort of catalyst to me opening up the conversation to joining. Was when EXP was Listed as what they call it. You get up listed to the Nasdaq. So they went off the OTC. Exchange and onto the Nasdaq. You don't get to do that just by choice. I mean you have to be performing well and behaving well and. Know. The analysts and everybody else has to be compliance people the FCC everybody has to. Agree that everything is legit. So I like that. I like that there is some third [arty accountability to everything that we do. Versus you know it's like we have it we have a board of directors into the people on the board of directors are agents that real estate people so they're not just the financial types and the bean counters that you would find them on a traditional board of directors. So when the board of directors of stock analysts and all those people get involved. You know there's some accountability. Versus when you have a company controlled by essentially one person. There's not. Any real accountability I have no piece of ownership and that's I'm contrasting with where I came from. And it's more of a dictatorial sort of environments. So. You know being able to earn stock being able to purchase stock at a discount. I mean. The portion of my commission checks can go toward purchasing. This publicly traded stock and I get it at a 20 percent discount. So basically every deal that I do I'm getting a 20 percent gift from the EXP. It's like I mean you know it's like if you invest in stocks like 8 to 10% consider pretty great. So if I'm getting an instant 20% regardless of how the stock performs feels like likely going to continue to grow then that's good news for me. So those were the big financial components. Oh and then I almost forgot the getting into technology which I'll come back to in a second but the Web sites that we get I mean these are some of the best lead generation sites you can get for your business. We work with Konversion. You don't know them check them out. I think last time I looked to their retail prices were a thousand dollars to set up and then 500 a month just for the system and then you have to pay ads and everything on top of that. But at EXP that's all included in the 50 dollar month technology fee. So it's a 500 a month I'm paying 50 a month. So you don't like anything else about the EXP or you don't care about revenue share and you'll care about the training you care about the virtual world. If you don't want to do your own business whatever you could make an argument that it's just the Web site by itself basically pay for your affiliate vision with the EXP if you want to do any of the rest like you're going to stumble across other great thing that you expected. I'd like that by itself is a good enough argument to make the move so. So that was the money piece as far as the technology goes so we'll continue that thread just for a little background there. I've been involved with tech startups as both an adviser like a formal advisor and an investor for years. In fact I looked it up the first one that I did was back in 2007 was a property portal that was competing with like Zillow to really realtor dot com didn't make it as far as those guys did just it was funding and leadership and whatever else. But you learn a lot through that process. A lot of people understand kind of the dynamics. So I'm very comfortable vetting technology and more importantly not just the technology it's the teams working on the technology real estate in general as an industry as a late adopter for most technology things even today. So for example there's a zip code valuation thing that's clogging my Facebook timeline right now with people asking their clients you send me your zip code I'll give you a valuation. Well that technology has been around for about 10 years now for many years. I was a customer of the company that developed first just as a real time market valuation estimates are now 10 years later everyone's acting like it's some revolutionary thing. You know.. Give me break... it you know if it's fancy tech that's going to disrupt the industry and that's the fancy tech then there's not much concern for me that like that's what I'm competing with. So going back to the teams that worked with technologies I mean the technology itself is great. It's like there's the wonderful stuff I get to use. Everything works fine. I have to worry about it like of course the EXP is going to continue to expand those offerings of course are going to develop their own proprietary stuff. So right now we're just growing so fast that you know the priority it seems to be like we need to be sure our basic system scale. So the people that are joining to get deals done right. Like we'll worry about dressing it up later. But really the team behind the technology is the most important piece for me not just in real estate but like everywhere because technologies involving at such a rapid pace that we're going to have to pivot we're going to have to make changes we're going to have to make decisions that are going to alter the sort of trajectory of the technology that's being used and developed. And it's like I have the full faith in the team the technology team at EXP to get that done. Again it's like we're not a real estate company pretending to be a tech company right. It's like technology's been built in from the very beginning. Right. So it's like yes real estate sales is our focus but it's not a sort of copycat thing after the fact. Thinking hey we need to get on this tech train. I'd like to know I've been tech focused from the beginning. That's where the team's focus has been and so with the company's focus has been that's been our game from the very beginning. You know I trust the team to be able to make the right decisions and keep us ahead of the curve and those sorts of things. Kevin: A lot of people know this because I've mentioned it before. You know I was one of the first sites up on real geeks when Jeff Manson rolled that stuff out and S. Lewis from my team. So you know you and I are fairly tech savvy and we do this and that was a huge draw for me as well. I also find the whole post your social media and give me your zip code I'll give you a report. This just shows that the average agent who's wowed by that doesn't realize that as a member of the National Association of Realtors they have an RPR account and that functionality is built in there too. So everybody has this not just the EXP agents everybody has it. So it's fun for some of us to understand technology to kind of smile at that but you know a lot of agents are not as tech savvy and certainly when they look at the suite if you look at the you know the platform for conversion you look at the enterprise application all of the back office stuff the workplace platform and the collaborative tools. You don't have to be super tech savvy to plug into EXP. And then again that's another misnomer that you know this is for you know super tech savvy agents. We have plenty of agents come through the onboarding process hit the ground running and they're like very commonly saying Wow I had no idea I could use all these tools and you know raise my hand get answers that super easy if you could use an iPhone you can use everything we have. So it's not that big of a deal. Sorry. Or Android. For those people out there.. You know I'm not overly concerned with today's hottest apps on stuff. Right? It's like it's just not really that much of a concern for me. My clients choose me because of our relationship not because of my fancy shiny tools like shiny things are going to change my relationship. It's like Sure it might make it easier for me to keep up with all my clients. Like give me some leverage but it's really about me and the value I provide to my clients. It's like that's you know that's not going to go away. So that was the answer to the technology.
In this episode Erinn Nobel from Bellingham Washington joins us. Erinn has been a real estate agent for 20 years and she's a successful high volume producer. She is one of the early members of EXP and today she talks about the growth and momentum build up from the early stages of EXP until now. She gives us her perspective on the power of EXP's technology and how it is being an industry game changer. She explains the myths about the EXP system and culture and touches on how fast EXP is growing through out Alaska and Canada. She gives us her advice on due diligence. Learn More about eXp Realty - Click here to watch a quick 7 Minute Intro Video. Remember our disclaimer: The materials and content discussed within this podcast are the opinions of Kevin Cottrell and/or the guests interviewed. This information is intended as general information only for listeners of the podcast. Listeners should conduct their own due diligence and research before making any business decisions. This podcast is produced completely independently of eXp Realty and is not endorsed, funded or otherwise supported by eXp Realty directly or indirectly. In this episode EXP growth and monument buildup Real time support through Sky Slope and the EXP platform from assistant brokers. Access EXP technology throughout your own brokerage branding. EXP's culture standpoint vs the classic franchise and MLM or Pyramid systems. Releaf from "bricks and mortar" and administration work through EXP's cloud based system and lead generation programs have groundbreaking technology programs that have transaction management tools. Revenue share, team growth and the disinformation and myths about them. Attracting agents and growing your revenue share. Take Away "We are not a recruiting company if we're recruiting company. We would be out of business. We are producing company. We want agents that are in production that are building the revenue so we can all take part of it and share the revenue revenues. Sure it's just for expense." Want to Learn More about eXp Realty? If you are interested in learning more about eXp, reach out to the person who introduced you to eXp or contact Tom to inquire or ask questions. Contact Erinn: Call at 360 398 3883 Email: Erinn.Nobel@EXPrealty.com Facebook: https://www.facebook.com/ErinnNobel Voxer: Erinn Nobel. Links: www.EXPCloud.com ERINN NOBEL FOR SONIX.mp3 KEVIN: Welcome back to another episode of "The EXP explained podcast" I am host Kevin Cottrell joining me today is Erinn Nobel from Bellingham Washington. A special guest she's been with EXP almost since the beginning. Not quite as long as Brian Culhane who you've heard in his episode share his story about the founding of the company but Erinn has been in regional leadership. She's a successful high volume producer including a member of the CRS community. And Erinn is going to have some great insight to share with us today for agents looking to understand a little bit more detail why agents are coming over from other brokerages and joining EXP realty. Stay tuned for my interview with Erin Nobel. Welcome to the show Erin. ERINN: Kevin thanks so much. KEVIN: Well looking forward to our conversation now they're going to be plenty of people that listen to the podcast that may be not familiar with you. And from the Pacific Northwest. Can you take a minute and give a little bit of your history and background in real estate and also touch on the early days of the EXP because you've been around for a while haven't you? ERINN: I sure have. Yes. It's been a fun ride. That's for sure. Yeah I'd be happy to. So in a nutshell this is my 20th year as a residential real estate agent right here in Bellingham Washington where EXP was founded back in 2009. I have been practicing residential real estate here in Bellingham Washington since 1999 and made the leap over to EXP four years ago as agent number 337. We were only open in 18 states at the time and it was just kind of a wild ride. KEVIN: Erin when the company started and obviously you knew Glenn because he's from the same town as you and you were familiar with him from his days probably back at Keller Williams is what would make you even take a look at EXP I know you were involve CRS you you're pretty well-known the Pacific Northwest and you had a successful real estate practice. What were the drivers for you if you look back in the early days of the EXP. Because it's a different company now and I know we'll talk about that that caused you to even look at it initially. ERINN: Yes it's a much different company. For me it was really just the vision that Glen had and the future of what the real estate model really looked like after coming through the recession and building my business back up in 2010 11 and 12. I was just really identifying what some key factors that were not working in the business anymore. I was working at a small local boutique brokerage and it was very well branded here locally. But I noticed that clients were calling in and they couldn't even pronounce the name of the brokerage anymore. They were really trying to just identify an agent and we didn't have the agents in the spotlight. Were at the forefront. It was all about the real estate broker or that brokerage. So I just noticed a shift in the thought. How can I align my business and my skill set and be in the forefront and be able to attract clients that I want to work with instead of having them funnel through my brokerage model first. So I sat down with Debbie. She had just made the leap over the EXP from a large local real estate franchise here in the Pacific Northwest. She and I were actually originally licensed together back in 1999 and I had known for her for quite a few years obviously but she was telling me about this new business model EXP and how it really is promoting the agent at the forefront. It's empowering the agents and showcasing the agents in a way that I had never heard of before so she really lined me out with that. And we met together with Glenn for dinner and he basically took me through the entire story in the process of how EXP came to be how he had been working through Keller Williams and running mega teams throughout the Northwest here and I believe in parts of the Southwest as well. But he was looking to expand and trying to find a solution for an expansion team that would not only financially be beneficial for the agents but helped to scale his business and scale through a basically recession proof model. That's what he created and I thought my goodness he's really on to something here and I want to be part of this. I joined immediately that day. That was four years ago. KEVIN: What's interesting about we're EXP is today and you know your interview and part of that discussion would be well for people listening to go listen to the two part interview I did with Brian Culhane because Brian was in fact working with Glen in the Southwest US and had the big teams down in Arizona and the markets there and so I think he was the first agent call it the sort of the de facto co-founder in the early days and you know right in the beginning and forefront he talks a lot about everything from the name of the company being selected in a lot of the early thoughts. And so it doesn't surprise me. You and I have interacted a fair amount that you had enough vision for this especially with your passion around the agents you've been heavily involved in stress and it's a different company today. You know if you look at Jean-Frederic and he came in I think it was agent for 77 or something like that was when he came out and he came in a little bit after you. Not much. And you know it was just over three years ago at this point. So what's happened since then and I know I don't want to talk about your role as an RTL and working with lots of teams and brokers and people that are interested in the EXP to talk a little bit about the early days versus now because you talk about a new business model and being more agent centric the offerings and the value proposition is so much more robust today. It's so much more developed the systems the cloud all of the offerings are such. How do you see it playing out in other words you are an early adopter. You came in early there wasn't a lot if any of the systems that are in place today. In other words there was a vision and the company certainly was operating in a you know a handful of states 16 or 18 states at that point versus where it is now. And so what were your thoughts on that versus what if you were talking to somebody who's listening to this today you know in other words there are still people out there especially compared as they're saying oh there's still a startup company they don't have anything together in terms of systems. Absolutely. And I wanted to be part of that momentum. I saw an idea and I knew it was going to be big and I wanted to jump in fully and help out you know contribute in any way or form that they could. And we did that fully. My husband actually left a 20 year career at Microsoft to come over as CEO for the company to build out our enterprise system with Glenn. We just loved the idea of the company and the promotion of the company and doing it in the right way. But especially it's achieving that momentum now which has really shifted the company. Everybody is talking about the EXP Realty. It's kind of the local latest buzz because it is real. It's providing agents with agent ownership it's providing a way for agents to not only excel in the business but to get out of the business at some point and retire and have a nice lifestyle. That's the type of momentum that we wanted to be part of in the early days we didn't have the momentum right. It took a massive had turn Turner agent or many brokerage to come over to the model and join with the EXP to get some local attention. And the frenzy going that other people would identify with and start questioning hey what is this. You know I want to learn more. Now it's almost on a hourly basis with people reaching out to me asking questions wanting to learn more about the model and the interest is peeked. Let's just say that. Well absolutely. I mean it's one of those things where you know to give people some perspective you know you were talking about you know being in the mid 300 ads as far as Agent count. You know when Gene joined I think it's 37 months ago 37 - 38 months ago there were just under 450 470 agents. Texas had I think if I know the number correctly I don't have every one of these numbers memorized but they're either at 7 or 12 agents in the entire state of Texas. You know now we're at about 2400 in less than 38 or 40 months. And so you know what Erinn is talking about is a massive amount of momentum the company has built out you know for all intents and purposes the entire North American content from the standpoint of United States as well as most of the provinces in Canada. When you look at the operation the footprint is at the point now where even if an agent who is listening to this know somebody in Kansas or know somebody in Florida or even in British Columbia which is a recent addition to the EXP's footprint they have the ability like you talked about from a standpoint of referring them in and having them join. That is much broader than it was when you were involved in other words you could do things in Washington state you could do things in certain areas. But both from an MLS footprint and a state being opened it was very limited initially. So for any agent listening to this it's a whole different world now and I'm seeing a shift and I'm wondering what your perspective is on this Erin. And people no longer thinking about this as early adopters in other words not only are all the top brokers from a lot of the big franchises joining. It used to be it would happen you know last fall Jay Kinder joint right? And there was a huge amount of momentum generated by that at this point. It's almost weekly that somebody is joining from a big franchise because I think that the risk either perceived or actual In other words for a while it was perceived. And then from an actual standpoint they can look at it and if they do due diligence and I'm wondering if you're seeing this change in the perspective agents now if they'll actually look into the due diligence the risk is out of the switch at this point. There aren't a whole lot of holes in the value proposition that they may have heard about that even exist anymore. Don't you agree. ERINN: Yeah absolutely. KEVIN: Well let's talk a little about some of the stuff you mentioned from the standpoint where you use terms about you know coming into the real estate business people might be sitting in independent like you were or a big franchise and they're thinking God the only way on a bill to retire is to sell my business my team or build it up to a certain size and replace myself or I might be able to make enough gross commission income and net enough that I can buy properties. EXP is different than that. So let's talk a little about your perspective on that. I know you have this conversation from a wealth standpoint quite a bit. ERINN: Oh yeah absolutely. And that's where I really see the model shine. We've got a lot of mom and pop businesses out here in the Pacific Northwest that are seeing the shift in the model and the change. And agencies are not coming into the office anymore. And here they've got so much money invested in not only bricks and mortar but in a phone line that the fax and the copy machines for the office staff that's sitting there to support our agents who are not going into the office. So they're trying to find a new way to invigorate that business by offering some education basically any sort of new technology to offer lead generation to their agents. But all of these are piecemeal add on products that those broker owners are having to absorb. This is where you can come in and power that company. It's basically like a bolt on product to a brokerage and power that brokerage where they keep their own branding. So say it's you know Thompson real estate. It would be Thompson real estate with the EXP realty or brokered by experience. They're able to fully branding in place and intact because they worked so hard to build that brand in their local area and add on our EXP product essentially which they can then offer to all of their agents. We have a lead generation programs have groundbreaking technology programs that have transaction management tools. We have education easily accessible through our cloud based environment. We have mastermind's lead almost daily. It's just incredible for these agents to now be able to access its technology throughout their own brokers that they're already familiar with. And this is where I'm really seeing the future of the real estate models as we know it make the shift and adopt the EXP technology. KEVIN: Well certainly the interview idea with Mitch Ryback he talks about that right here. He had Tropical realty down in Florida and he was going to do a seven figure sale and then stepped back from that and went with the EXP to be powered by EXP instead. And one of the things in addition to the economics of the change he talks about the brand he talks about the tools you know things like Cavey core and Web sites. And what's interesting about it is he also touched on something that is sort of the dirty part of brokerage I don't mean that in a bad way but just what they don't like doing right. They like to wash our hands of this which is the actual brokering compliance the in and out of licenses the transaction management looking at the contract review making sure ENO is in order all of the stuff that so many people who have built up these independent brokerages just don't like to do. Now this also applies and I don't know if you've seen this but Gene and I haven't heard this from a lot of the rainmakers because there's a logical progression whether you're a big rainmaker for a team at a franchise or you're independent quite often. You know if they're at a brokerage their next step they start thinking about hey do I go out on my own. And what they haven't thought through is exactly that. In other words you can do it and then they look at how much was I paying in company dollar to my company. But when you start to pull back the curtain on all of the steps needed and all the staffing needed to do all of that sort of the dirty brokerage part the compliance pieces all of the admin stuff they haven't thought that through and typically from a behavioral style right these are driver personalities a profile and they don't even want to touch that stuff and so I know one of the things that I'm seeing and Gene is seeing when we're in meetings is the rainmakers and if you're a rainmaker and you're thinking that's your next step. This is probably something you want to look at because the economic model and the way you EXP sets things up in a team environment even a large team environment and even if you're in multiple markets right you're an expansion team. The tools that Erinn is talking about provide you with a great platform where you don't have to staff up and handle all of that admin stuff because that's just a cost center. There's no there's no real value or leverage in that side of the business is there. ERINN: No. No there really is. And one thing I really wanted to touch on which is one of the most common questions that I'm asked is how does EXP provide that type of support. How are we able to review transactions. How are we compliance. How does this work. And really what we've created is the perfect system for transparency between that broker or managing broker or broker owner and the agents. We've created a system that is completely paperless which is also obviously economically friendly and we're using sky slope transaction management to review each and every file that transaction that an EXP agent is party to. So the broker has complete access to these files checked for compliance. Make comments and no edit anything in there as necessary prior to the agents closing or finding that file. We've also created a system for agents to get instant or immediate access to help with any sort of transaction where they can reach out to their broker where they can reach out to the assistant managing broker in place and just have instantaneous help there's no more waiting in the office or your broker to be free or to get back from lunch. You just reach out it's simply either through the phone app or EXP world and get answers at your fingertips. I think it's just brilliant. KEVIN: The other part of all of that is from a system standpoint and agents are painfully aware if they're at a franchise locations for example and let's say they're on the East Coast right or the West Coast right. Here's the two examples. And you go do a walk through on your property and invariably something comes up and you've got to do an adjustment. Something wasn't fixed. There is something that is still a defect or something that was discovered. And now you're going to do a 5000 dollar price adjustment or some other thing like that that affects your D.A the ability to have the transaction and the accounting team available in the cloud is a huge game changer. Right. Imagine you're in the East Coast. You do your walk through at six thirty or 7 at night and you discover this. Now you've got an agreement you've got an amendment and a modification. There are accounting and payment people in the EXP cloud so to speak just to use basic terms that are going to be available there are going to be less cost people because as Erinn talked about we're on Sky slope and a common system nationwide the ability to affect that change to a contract in a DA and have you not have it turn into a scramble to text major broker at night figure out how to do this and get it done for the title company in the morning is a game changer for a lot of people now if you put that in the context of high volume for a rainmaker. That stuff happens every week every month right there doing enough volume that that stuff's happening regularly. Now an agent doesn't do a lot of volume may not have that happen but once a quarter or a couple of times a year. Now the rainmakers and the big players and we have a disproportionate amount of those higher volume players coming in the EXP are painfully aware of what a huge value this is and the system you're talking about Erin is huge. The fact that Sky Slope is available nationwide the staffing is available in multiple time zones and we're not anchored to an old school model of a bricks and mortar location is a game changer like you said most agents don't go into the office a emergency which somebody will go to the office might be to go get a DA fixed. If they had to and they hate it. ERINN: Oh yeah yeah. And it just allows you to have the opportunity to scale their own business. It allows EXP to scale and expand. And quite honestly if we need more help if our brokers are needing support we add brokers we add assistant brokers we've got people in place there to support our agents just through EXP crowd and our other technology. And it's just fantastic it's a tremendous system. KEVIN: Absolutely. So let's talk a little bit more about well from the standpoint of revenue share and equity because I know this comes up right. The reason I want to touch on this in general terms is there's so much disinformation out in the marketplace. I know this was a factor for you. You're one of the early people that came on you've had this conversation hundreds if not thousands of time about what does this revenue share and why would I even pay attention to it. Tell me a little about the equity awards. There's so much. Even today I saw something posted on social media this morning about stuff it's just plain inaccurate and it's based on old information. They're talking about the fact that you know this is pre NASDAQ listing and the fact that there's all sorts of issues. What is your answer about revenue share in terms of how you explain it and why it's a big game changer for agents. ERINN: Sure. I mean I look at revenue share as the company EXP paying me a referral fee for bringing great quality agents to EXP. It's as simple as that. And I can build my revenue share family my revenue share trade as deep and as wide as I want to by attracting quality agents that all they want to do is sell real estate. It's pretty simple. KEVIN: And that's a good way to put it. I mean one of the things that I tell people that have broad reach. In other words sometimes people will show up and they're pretty active in the training community right they attend events because of their franchise or otherwise they know lots of agents all over the country. You know I talk about this being no different the payment methodology is different but it is like a referral fee and you hit that on the head in terms of the way I explain it but it's almost like your a virtual region. In other words when you hear people talk about like Pat Hayes or Mitch Ryback or Gene their region I mean in the case of some of these big revenue share groups they're in thirty forty or fifty states. Some people are five to six states pretty quickly because they end up knowing agents and then those agents no agents in other markets. And it didn't matter if it was a relationship that was done just on social media or it's somebody from an old franchise that's in a different market. It's one of those things where you know we're certainly not looking for people to come in and like in my old role at Keller Williams I was a team leader right. I'm not looking for people to become a team leader right. We're looking for people and the way agents are doing this is the natural progression of their business right. Either the fact that they have relationships and they do referrals for transactions or they know people because of previous trainings in that is the way that they attract agents right. They may attract a few or they may attract many. I mean Brent Gove is a perfect example of somebody who's got an enormous amount of agents in a short period of time. And I know you because CRS and otherwise have a lot of agents in different markets do don't you. ERINN: Oh absolutely do. I've got agents you know connected from Alaska to New York and my revenue share group and it's fantastic because it's a great way for me to build out my referral business which is a good 50 percent of my business that I generate every year. But now my revenue sharing group can benefit from that referral base business as well. KEVIN: For people that have heard that this is like some crazy MLM or a pyramid thing. This is no different than the franchise system that collects a royalty and gets paid into a pool and then it's paying regional owners. That's effectively a referral fee too. Right? Actually the same thing so if you've been misled to that you probably want to look back at this again. You know it's not anything that occurs or anything other than as Erinn said production right. The only way it works is if agents are with the EXP and they're in production and this is paid into a pool much like the pool that is paid off of the top with a franchise that's royalties. We don't collect royalties that he EXP. And so you can think about it somewhat similarly. And like you said it's a way to build out and grow your group over time and assist others to do it as well. I know I had a number of people on including an agent in Houston and he talked about the fact that a year into it that he was now starting to think about raising his splits for his team because the revenue share has grown to the point where he wanted them to get the reward on helping him build his business and he was helping them grow their revenue share as well. So for rainmakers listening to this if you think about this on a more broad basis this might prevent you from having that constant turnover and push poll conflict in the team environment right and a lot of the franchises I've had several guests on that said this is I never felt like I could retain people right. What was the next step for him if talent showed up. I'd always worried they'd leave. I want to go do something different in the EXP world. You hear person after person talk about the fact that they want team members to succeed. Brent talked about this tourney talked about this in Dallas and even if they want to go form their own team you help them. We're all shareholders. We're all based in the same direction and that's a big difference from a cultural standpoint don't you think? ERINN: It's a huge difference from a cultural standpoint and I think that's one key myth that is pretty prevalent with people are the naysayers about the EXP. We are not a recruiting company if we're recruiting company. We would be out of business. We are producing company. We want agents that are in production that are building the revenue so we can all take part of it and share the revenue revenues. Sure it's just for expense. KEVIN: Well and I think a big inflection occurred this spring when Brett Inman came up. And as you're aware was up in your town interviewed Glenn and a number of other people and the article came out and I think it raised more than a few eyebrows when he declared that EXP in his opinion based on his conversation with Glenn was going to be essentially the NRT of the cloud and you know put a stake in the ground and basically said 50000 agents. And I think what really blew people away was the 50000 agents and the date that he put in there and how fast it was occurring. You know with a company ending last year at 6500 and change being at 12000 now I think it's easy for people in the industry that have been around and seen this picture before to now look at and go yep 50000 agents this is in sight now. And if the company continues to execute they'll get there. And this is a whole different world right you at the top of this interview you were talking about three hundreds thinking about getting to 2000 agents was gone. How long is that going to take us. ERINN: Oh my gosh yes and that was painful work. People don't understand all the work that goes behind the scenes to build out EXP not only in a new MLS but in a new state. It's monumental. I mean it can take a year up to two years to open in states. I we're still one state that we're not open and yet because of regulations we do everything that we can to be compliant and make compliance not only for the local and state boards but the MLSes in Alaska for example they require a very small bricks and mortar office with a sign facing the street. So it can be a very long and painful arduous process to become open in every state and now we are not. This is another reason why we're seeing such success in such monumental growth. All of a sudden it seems it's because we're able to add agents and almost every single MLS across the nation and Canada. KEVIN: Well absolutely and I think if you look at the franchise system that has profit sharing right. There's enough former members of that company that are here now that have been here long enough. Sherry Elíott is one I did an interview with her and there's a number of others. There's probably hundreds at this point. Now we're making comparisons right. And so the conversation in the marketplace used to be it's not going to work. Nobody is going to make any money with revenue share it doesn't work. You know you're making a huge mistake and that was almost a quote verbatim from Sherry Elliott. Right. And she's now able to have a conversation and say here's why I used to make. Here's what I make now. And here's how I did it. And Brent Gove can do the same thing. You know a number of them can do that and there's literally hundreds of them. And I think that's helping as well and for scaling perspective we're throwing a lot of numbers around what you talked about having in the entire company four years ago. The company is adding more than that per week at this point right. Yeah. Way more than that at this point. And so some of that is the build out and the success we've had and all that hard work that's occurred. But I also think that we've hit that inflection point. You talk about the hockey stick where at this point especially after the Nasdaq up listing we've got enough disclosure information out there. We've been accepted on the Nasdaq. You can point people that are those S and C in the disk profile they say just go read the filings you'll see all of the data there you'll see all of the full disclosure and it takes away a lot of those concerns. Plus they can look in the marketplace and go wow that was the number one agent for that franchise that actually just left. Oh there's another number one agent Northern California for that franchise. There's a number one agent from San Diego. It doesn't take too many of those for the trickle down effect of you know ending up at 350 or more agents a week coming in nationwide and we're headed to a much bigger number than that. It's going to be the opportunity and the challenge for the company but the good news is you talked about the systems are all in place now to take advantage of that. So Erinn I have a question for you. Now there's somebody listening to this right. They've listened to the first part over 20 25 minutes of us talking. If somebody is interested in some of the key factor right they called you up on the phone and said hey why EXP what would be the two or three things from a due diligence standpoint you would say you definitely need to think about this this and this. ERINN: Oh absolutely definitely due diligence read about you EXP on the EXP world holding site. We have a lot of information there that talks about the very most specifics about the company about exactly how the revenue share program works about how agent ownership works look into our stock. It's EXP I is the ticker symbol. And we're now traded on the Nasdaq. Seek advice from your accountant or your CPA definitely have them look into the background of it. You know also meet with an EXP agent has been in the business for a while get perspective find out what their pain points might be. Find out what the huge benefits are for them about working with the EXP and just find the story learn the background. KEVIN: Which is fantastic. Erinn what I would like to reiterate and I've done this on every interview is it doesn't matter who introduced you to the EXP right. It could have been a fairly new agent. That was the same franchise you were and you're a mega agent ask that agent to get you in touch with Erinn, Gene-Frederic myself anybody. We have every guest on this podcast give their contact information. Doesn't matter how you heard about the EXP. We're all here to make sure you get connected with the right people to do what Erinn suggested and there are plenty of people some of them would be peers. Some of them maybe a little ahead in the business of where you want to build to that we'll be happy to share their story of coming over. It's not a matter of them having any kind of concern about the fact that they didn't introduce you to the company. That doesn't matter. As we've talked about there is a shareholder program and we're all shareholders. We want great agents to join the company so I know Erinn you have these conversations with people all the time you talk with somebody in the Pacific Northwest. For me the very first month I joined the company. And you know it's one of those things where it's just part of the culture of the business and this is something that from the outside I don't think it's very well known. So again if you've not been introduced to EXP you need to get in touch with somebody. Erinn will be giving her contact information at the end of this interview. You can certainly reach out to somebody in the marketplace if you look in your MLS and you see somebody you recognize may be happy to chat with you about it. If you have been introduced to EXP and you want to chat with somebody ask them to get in touch with their sponsor or go to the podcast look in the notes or listen in the end here where Erinn gives her contact information or any of the other guests on any other podcast interview. We're all happy to talk with you or get you pointed into the right direction if there's somebody else you should talk to beyond us. Anything you want to add to that Erinn before I get your contact info for and listeners? ERINN: I just have one favorite story that I love to share with people about the EXP. One of the biggest pain points for people is where do I go to work. What do I do without an office space. You are not bricks and mortar. Well I encourage them. OK get creative. Think about this. Why do you need to work in a real estate office in competition with other realtors. Rethink this. We have one guy with the EXP who did something bold and I just love it. He opened up shop in a car wash a drive through car wash. And I just think this is brilliant. He branded his cards with a car wash. Basically a little punched sticker thing and hands them out to people as they come to the car wash. Once they hit 10 he gives them a free carwash. He's got a constant steady flow of business coming through it's like a revolving door and he's actually built his business up through patrons of this carwash. So if you need bricks and mortar space. Get creative. Now part with an attorney partner with a title or escrow company or one of your local lenders. We encourage you to branch out reach out and really expand your network that way. KEVIN: Absolutely. That's great information and that's a good example. I mean we also have agents that are pulling together like in San Diego where they have 3 regional sort of we work type of locations that they've set up collectively between the entire big groups of rainmakers and teams and agents as they come in to join the EXP. It can get in and subscribe and get either a hot desk or a regular place to work. There's lots of solutions. I have yet to find anybody that's a hard stop for there are so few agents that if you don't walk through it they can't figure it out sometimes but when you talk to about it they're like oh yeah I could do that or I could do this and as you just described there's a great business case for why you would want to do something different. I mean sitting in an office where nobody is going to come in. So Erinn before we drop off help somebody reach you if they like to talk with you live about the EXP. ERINN: Oh sure plenty of ways you can reach me either on my cell phone which is 3 6 0 3 9 8 3 8 8 3. I'm on Facebook as Erinn Nobel. You can also reach me via email. It's Erinn.Nobel@EXPrealty.com and I'm also on Voxer as Erinn Nobel. KEVIN: Fantastic and just kind of a hint for listeners. Erinn didn't mention it but if you're looking schedule a call or connect with her one of the best ways would be to text. And then you can catch her that way and do it or send or an e-mail. We're all fairly busy but we're all of the culture that we want to make ourselves available and sometimes rather than leaving voicemails or chasing people around that Sims tends to be the easiest thing. Any final thoughts before we drop off today? ERINN: Not that I can think of top of mind but if you're in the Pacific Northwest Alaska Canada I'm local and I'm more than happy to talk with you. KEVIN: Fantastic thanks for coming on the show. Thanks so much. Kevin's great.
Today we talk with mega agent Tom Daves from Sacramento Califonia. Tom was previously working with Keller Williams being a top world wide agent. As a team leader he runs a large successful real estate team. Tom talks to us about his decision to move to EXP, why he did, he touches on the real estate market change, equity, growth and revenue share and explains how much of a game changer his transition has been to his life and business. Learn More about eXp Realty - Click here to watch a quick 7 Minute Intro Video. Remember our disclaimer: The materials and content discussed within this podcast are the opinions of Kevin Cottrell and/or the guests interviewed. This information is intended as general information only for listeners of the podcast. Listeners should conduct their own due diligence and research before making any business decisions. This podcast is produced completely independently of eXp Realty and is not endorsed, funded or otherwise supported by eXp Realty directly or indirectly. In this episode Being Sceptical about EXP EXP in Nasdaq Market Change Why Join EXP EXP as an Exit Strategy The EXP value proposition Equity and revenue share opportunities Marketplace disruption Due Diligence Want to Learn More about eXp Realty? If you are interested in learning more about eXp, reach out to the person who introduced you to eXp or contact Tom to inquire or ask questions. Contact Tom: Call at 855 Tom Daves. Or email at Tom@TomDavesteam.com. Links: www.EXPCloud.com Takeway The pain the other great mega agents that are coming on board and as well as the alignment with amazing team members that we have. So yeah it all came together at once. Transcription KEVIN: Welcome back to another episode of EXP explained podcast I am host Kevin Cottrell joining me today from just outside of Sacramento California is Tom Davis. He is the team lead from the Tom Dave's real estate team. If you're in that Keller Williams system you undoubtedly recognize Tom's name in his team's name. They were the number one team for several years running in the Keller Williams system nationwide and Tom runs a business on the team that does multiple hundreds of millions of dollars per year. A very very large business very successful businessman in the real estate business he's been in the business for quite some time. So when I heard that Tom had made the move from Keller Williams as a large multi hundred million dollar producing team I wanted to find out his insight on why he made the decision to join the EXP. What he shared with me, I know he's going to be insightful whether you're a team lead on a smaller team or your team lead on a large team like Tom's including expansion teams. Please stay tuned for my interview with Tom Daves. KEVIN: Welcome to the show Tom. TOM: Hey Kevin. Thank you. KEVIN: Oh I'm looking forward to our conversation. Excited to share your story and talk a little bit about the big change you made over EXP. But before we do that why don't you give us a little of your background. Obviously a lot of our listeners probably know who you are but once you get a little bit of your real estate background talk a little about your business before we dive into the big change here. TOM: No I appreciate it. Absolutely. I've actually been in the business for 40 years. Kevin I started when I was 12 at a very young age and started right away and worked with traditional real estate sales and got into management and had a couple of different Remax brokerages and also worked with Oreo's with Flip's, Blackstone private equity team so pretty much seen every single economic cycle and it's been an amazing tour so far. I'm really excited that I'm now at EXP and I always say real estate you know is very very exciting and you can go from the hype of exploitation to the depths of defeat within the same 60 seconds. So it's fun it's exciting and it's all mindset right. KEVIN: Absolutely absolutely. So I think the question and certainly for me and everyone else when you announced you were leaving Keller Williams. You were the top agent worldwide for five years so this is the question I have someone who has that big business right. It's Mission critical it's important you're the top guy at Keller Williams worldwide for five years. This is an important decision. It's a strategic decision. What led up to walk us through a little bit of the process and why EXP. TOM: Okay great. So as I briefly mentioned I think my favorite saying is Wayne Gretzky you have to skate where the puck is going to be. And I've been blessed enough to position myself in most cases ahead of the curve and I head of that economic cycle whether it was traditional Oreo Flipp's you know hooked up with Blackstone private equity sold them like 600 homes in a year and a half. And the team and don't get it wrong. You know the team was amazing and Keller Williams was amazing. I was there for 18 years. I have nothing bad to say about them. But being a top agent is not always what it's cracked up to be. Candidly the margins weren't always that good. I had some great years and I noticed over the last few years that the margins were definitely shrinking and the market is starting to crown the market is starting to change as well. And there's no doubt that the market is shifting and it's technology based cloud based you know with all of the different companies that are coming online. Zillow, Redfin, Purple bricks, Amazon and they are all engaging in real estate. There's no doubt that technology is the future of our industry. And plus the consumers that consumers want and instantaneous communication at their fingertips. So that was you know one of the main reasons was the economic model and the cloud base. I literally when I made the move and changed over to the EXP realty I cut my expenses in half which was pretty amazing. And my very first month I had a 42 percent profit margin.My first month here which was pretty awesome. Pretty excited about that. Not to mention you know the stock EXP were publicly traded company as well as the revenue share and really having an exit strategy as a leader. I always feel that we need to seek out opportunities for our talent for our organization. And one of the problems that I've always had is to keep that ceiling of opportunity far greater than what anyone could achieve if you don't you're not going to be able to keep any talent. And it was becoming a little bit of a struggle for me whereas with EXP with the three types of income the commission income the stock for building are well as well as the revenue share it really truly provides an exit strategy for myself, anyone on the team and anyone that seeks to find it with literally no capital risk which is pretty cool. And the final is to have the opportunity to partner and align myself with you know Don Yokum, Randy Bird, Brent Gove, go and Gene Frederick. I mean it's just amazing that to align yourself you are the sum total of the four or five people that you hang out with. So that's pretty cool. And there is a saying that I really like is not always the assignment it's the alignment and that's quite frankly why I made that change. It wasn't easy. It was tough. But that's why I made change and that's why some of the biggest minds in the business are going after this thing. KEVIN: The question I have for you. I'm glad you brought up the margins. And one of the things I want to talk about is and I don't know if you're involved in the early MREA early 2000s when they had everybody in Austin for those mastermind's. I used to be with Andy Allen and Aaron Lancaster and they had that one of those mammoth early teams that was doing 600 transactions a year more. And what we found was exactly what is talked about which is there's a lot of sexiness to high volume and high transaction volume but the margins can be rail thin. You're subject to market conditions changes keeping talent attracting and recruiting and all that becomes a big machine. And I found most interesting your comment about instant profitability and margin increase because really if you look at it from the standpoint of the originals called the core value proposition in the MREA book about what you should be making your numbers went from where they were which undoubtedly was a lot less to you called it 40 - 42% which is sort of the lauded number that the best of the best in that model should hope for. Now one of the realities is you know I'm from Austin you know I joined Keller Williams very you know probably pretty close to when you were involved with them as well. And you know Gene was my mentor and trained me and then I was a team leader so I was around a lot of this and that was my first observation. I'm glad you brought it up because I think the marketplace is trying to figure this out right. You know there's a couple of challenges with big teams. You touched on one which is you know like you said it's not always awesome to be the biggest guy on the block with the most volume of people and expenses because the margins can get thin. But for listeners. Here's an example of an enormous operation that suddenly had 40 percent whereas before and you don't have to tell us necessarily what it was. But I would imagine you were probably down in some pretty low numbers where you had to watch things carefully and things could go south I'm assuming. TOM: Oh absolutely. And like I mentioned the margins were definitely shrinking. Yeah I was top agent with KW And you walk across stage and get your plaque but it's all about the bottom line of the profit and it did take me a few years to learn that realized that I think the first half of my career was all about success and walking across the stage and kind of all about me. But the second half is about significance. About pouring into others adding value and the bottom line right. They get significant. KEVIN: Tom the question I have is in the traditional teams that the retention of talent sometimes is hard right. They want to go do their own thing because they can only grow to a certain capacity and income level and they don't have the buckets of revenue share. They don't have stock. And so the comments that I'm getting from guests again and again are that my environment and my team from a standpoint of wealth creation for team members is different now because I can help them and mentor them. So it's not just one bucket production in their income that comes from that they can build revenue share they can have stock. Are you looking at that in your operation as being something that you're going to basically utilize for team members as well. KEVIN: Absolutely. And I think one common mistake that real estate agents do is they don't treat their business like a business and they don't think long term. So many agents and brokers are on the real estate cycle. Good month bad month. But if we begin with the end in mind and we think long term then we'll be able to build a plan and a strategy with a vision to achieve the goals that we really want to achieve to live that big life. And that's what it's all about you know whatever that is. KEVIN: And that's true. And I've heard from guest after guest and you know Jean and I and you and and Don Yoakam and others are talking to a lot of people and the ability for people to create the different income brackets that you talked about is a game changer it just doesn't exist right there's nothing wrong with the franchise systems. They just have not created an environment where that exists in other words. I've got a key team member and they want to go off and do the next big thing, normally and quite often it is go do their own thing have their own team. Well in the EXP world what we're seeing again and again and again is they start looking at the bucket of revenue share. They start looking at let me accumulate stock the way that we can accumulate stock and so it's creating a different dynamic especially for the teams that are coming into the EXP envelope where the rainmakers and the leaders who are in these teams are saying everybody's trading everything different. They're not inclined to run off and go do their own thing or even talking about it like they were they're talking about you know hey Tom tell me how to go do this. I want your help. I want to go get revenue share and I'm assuming that was part of your equation too you know to reward talent and attract people because not only are you known throughout the system that you just came from but you're well-known enough in the industry that lots of teams are going to pay attention to what they're going to hear on this interview and what they hear from you and Don Yoakum and others which is this is a game changer isn't it. TOM: Oh it really is. And EXP just totally provides the structure and the ownership opportunity that most brokerages don't. And this structure vital to maintaining a profitable real estate business and creating additional income just being in a constant state of growth. KEVIN: Which is absolutely true. So imagine rolling back to when you were observing and you were in sort of the big franchise system and you were starting to see significant movement because it has been going on for a little over a year where we had really big movement among teams including large teams. A lot of listeners are in that same position today. And I want to kind of talk a little about due diligence and key things that if you were sitting down and having coffee with them you would want them to be thinking about in other words you were where they are before now you know what you know. And as Jay Kinder says once it's seen it can't be unseen. So let's talk about some of those things from the standpoint of putting you back in your you know "I'm the number one guy worldwide at Keller Williams. I'm seeing this happen". What are the things you know now that you'd want somebody listening to this to say if I'm a team leader for a real estate team a big production team what should they be paying attention to how should they approach this from a due diligence standpoint. TOM: That's a great question. So I would take a look at the books. Take a look at the numbers. Take a look at the economic model. Talk to others that have gone before you. And you know things that to be honest I was a little bit skeptical that I mean I just thought EXP with all of these ways of creating wealth and opportunity. It just sounded too good to be true. And I just did not believe that it was sustainable. But when the Federal Trade Commission approved EXP to go on the Nasdaq and will become publicly traded. It was a game changer for me. I'm like OK well that's it. It's a done deal. So definitely a way to go. KEVIN: The other thing that's a factor obviously the up listing on NASDAQ is huge. Right. It's a credibility thing you don't get uplifted in the Nasdaq if there are holes in your business model and things are not sustainable and you can't go essentially out in the marketplace if they look at it and go oh this is never going to work long term. Right this is not the way it works in Nasdaq. So the second thing that I think you mentioned it's important to circle back to is the fact that too many it looks too good to be true. And you know my advice always is you know there's guys like you rent go Jean-Frederic, Pat Hays Scott and Tracy Lewis, me. There's a number of people that are available to you as resources Don Yokum will be another one. And you know that's why we always before we wrap up in these interviews get the best way for contact information. Most guests will say here's how you reach me and text me and I'll be happy to talk to you because they'll be other people that are in similar situation to you regardless of how they learned about the EXP they're going to be like well "I'm skeptical too. I need to talk to somebody" and that is in my mind a key due diligence step. In other words don't sit there in an envelope either hearing the words you're in a vacuum or an envelope you don't see any outside information and looking in the envelope going this doesn't make any sense to me. It looks too good to be true and you're trying to make your decision in a vacuum. You need to talk to people that have come before you like Tom said you need to have those reference calls and that's part of the process. And so part of the reason we do the I guess interviews so you can hear in the parties like Tom's words why they did what they did. But I would imagine that in this process Tom that you didn't just do this and figured out on your own you did talk to people did you. TOM: Oh I did. Absolutely. I did a deep dive. I spoke with two different business coaches both my coaches spoke with several different people many of the agents that have already come onboard with the EXP and asked them what they would do differently. You know if there were any snags or any concerns and every single one of them told me the main mistake that they made was they should have joined sooner. KEVIN: You know I mean frankly that is the number one thing that we tell people which is even if you decide it's not for you. I mean if you're a rainmaker and a team you know whether you're similar level and scope to what Tom is or maybe you have a team that's a much smaller team. The biggest mistake you could make is being skeptical of not doing something because definitively if you waited three four or five years it's going to be a different opportunity. It's kind of like the people that were at Keller Williams When you talk to Jean-Frederic and others that got in in the early 90s and got significant profit share built up and they are at the top of the tree. It's the business opportunity with a rapidly growing business. EXP is growing faster than the franchise system ever did because of the way it structured its a cloud based brokerage. So that would be my advice too which is even if you ultimately decide to not do it take Tom's advice and dig in and talk to those people do those reference calls. Figure out if it's a good fit for you. And then dip the decision but do it sooner rather than later. Because what ends up happening is more and more of your peers and your competitors in the marketplace are going to be over and they you know look up and if you waited you know God forbid three four or five years you're going to see a lot of people coming over and I'm sure that was part of what you saw. You started see what started slowly last fall. You know and then you had like Jay Kinder or Michael Reese and some others come over and then mega team after team came over in the last 12 months. I mean it's a crazy number of teams after Jay came over in November and I'm sure it will be hard to miss that in the marketplace. TOM: Like I said many of the best minds are going to after this and also I think one of the things that was happening was my pain was increasing you know as I mentioned the margins were shrinking. Just different things were happening with the growth of the team and the numbers and you know the only way for me to keep the numbers was just to you know we closed 350 transactions last year. Okay keep these margins we need to do 450. You know let's just do more volume let's just do more deals hire more staff to crank up. And so the pain I believe was getting so great that this opportunity was a no brainer for me. You know it all kind of came to a head all at once. The pain the other great mega agents that are coming on board and as well as the alignment with amazing team members that we have. So yeah it all came together at once. KEVIN: Tom here's what I would say too is because your business is so gigantic is the top guy worldwide Keller Williams. You look and act a lot like we're also seeing. And you know this because you and Yokum are talking about it is lots and lots of independent brokers whether they're small at 30 40 50 agents 25 agents or hundreds of agents are all waking up with a similar problem what you had which is margins are thin. The industry is shifting. God forbid there is a big market shift and they're caught on the wrong side of it with EXP growing around them. And I know you're seeing it and I'm just saying this for listeners benefits what Tom saw and Tom accomplished is not unlike why the independent brokers are what Gene and I see as one of the huge trends that's going to happen in the next three years is the conversion. TOM: Oh absolutely. KEVIN: So one of the things I always like to ask is Tom before I get your contact info for listeners in case they want to reach out to you is there anything that you hoped I asked you on the podcast today that you really wanted to get out about EXP and watch what's going on over here that I didn't ask. TOM: No that's great. I think we hit the high points. KEVIN: Okay fantastic. So again I always give this preface. It doesn't matter who got you interested in the EXP Tom and Jean and I or Brent Gove or anybody you hear on these interviews is there as a reference to help you make the right decision. Tom's the same way I'm going to get his contact information as far as the best way to reach him. We're going to turn right around and send you back to whoever introduced you to the EXP that's the cultural agent's point in the same direction. So don't feel sheepish if you're a team leader on a big team and this is mission critical for you as well and you feel like Tom's e-mail shoot straight with you and he's enough of a peer that you think he's the right guy to talk to, Tom how do they reach you. TOM: Great the best way to reach me is to either call me at 855 Tom Daves. Or you can e-mail me at Tom@TomDavesteam.com. KEVIN: Okay perfect. I appreciate you coming on. And thank you so much Tom. Thanks Kevin. Have a great day.
Brent Gove is one of the top realtors in the country. He leads a team of over 3,000 agents. He is a better person than realtor. He has built one of the biggest teams while always be authentic. He leads by example. He leads with heart. Enjoy this episode with a living legend.brentgove.comBrent@brentgove.comjeremytodd.comjeremy@jeremytodd.com
Brent Gove SUCCESS CALL ***Note: If you can not see the audio player above, REFRESH your browser and try again. . . . . To listen on iTunes, click HERE. To listen on Google Play, click HERE. To download, right click the “Download” link below and “save as” to your computer. Download FULL Running Time: […]
The best team leaders know their biggest asset is the knowledge that put them in a leadership position in the first place. What’s the number one reason why agents don’t get the listing? What’s the trait you should look for in your future team members, and how much you should invest in their training? On this episode, Brent Gove shares how he transforms every hire into a success story. When you look for the good, you will be guided to better things. -Hank Seitz Special Webinar Event:"The Future of Real Estate" Join Dr Hank as he shares with you a new real estate business model and technology that is revolutionizing the real estate industry for both Agents and Brokers. This is an introduction to EXP Realty and how You will be able to now enjoy three streams of income that builds your business and provides a Lifetime and Legacy of passive income and cash flow for You and your family! Register HERE! 3 Things We Learned From This Episode The hungriest agent is the most successful Be hungry enough, and it’s going to happen. Prospects can read you better than you think. They can tell how involved you are, and how much you’re willing to do for them. Ask questions and practice listening. Even if you fail to get the listing, ask them where you went wrong so you’ll know what to change next time. A genuine interest in helping people brings the most clients Drive is important, but when the drive is bigger than the desire to help people and create relationships, your team will ultimately fail. Make sure you choose people who do their research and already have their prospect’s dream home before they make that phone call. Look for people who are interested in maintaining relationships with past clients. 3. Your biggest asset is knowledge, not leads Many assume that team leaders are supposed to provide leads. However, the more important asset is the ability to teach everything you know and make each agent a self-made superstar. Invest at least 2 years in their training, and keep them around you with a contract for another 2 years. Hire agents you know, like, and trust. Teach them how to do open houses 7 hours each weekend. Show them how to bring in the “scarcity element.” Put at least 30 signs for an open house and create buzz. The more potential buyers you have, the better your leverage and options. Guest Bio- Brent Gove has sold over 3,500 homes in his career, and he ran the biggest Keller Williams franchise in United States. He is a published author, speaker, and the host of “The Real Estate Report,”.
Joining us today is mega agent Tierny Jordan from Dallas Fort Worth. Tierny has a had a very successful past in the real estate industry being the No 2 team in the Keller Williams market place. Tierny talks to us about her team, her important decision on moving to EXP despite being a very successful agent with Keller Williams and what has happened since she joined EXP. Learn More about eXp Realty - Click here to watch a quick 7 Minute Intro Video. Remember our disclaimer: The materials and content discussed within this podcast are the opinions of Kevin Cottrell and/or the guests interviewed. This information is intended as general information only for listeners of the podcast. Listeners should conduct their own due diligence and research before making any business decisions. This podcast is produced completely independently of eXp Realty and is not endorsed, funded or otherwise supported by eXp Realty directly or indirectly. In this episode Tierny's determining factors to joinging EXP Why Terny believes EXP is a game changer EXP's culture and mindset between members and collaborations opportunities EXP's culture standpoint - team work Tierny's du diligence ideas and tips EXP is not only for mega mega agents Personal business and team growth within EXP Want to Learn More about eXp Realty? If you are interested in learning more about eXp, reach out to the person who introduced you to eXp or contact Tierny to inquire or ask questions. Contact Tierny Jordan by phone/text: 469 446 8971 Noteworthty "you can have ownership in a company that is going to be the number one real estate company in the world" Tierny J "So I would just encourage everybody to really sit down and understand the opportunity don't go off of what necessarily other people are saying because there's huge value here and I'm excited to help anybody and answer any questions that you guys might have". Tierny J PODCAST TRANSCRIPTION KEVIN: Welcome to the show Tierny. TIERNY: Thanks so much. Just to be here. KEVIN: Good. I'm looking forward to catching up with you. Why don't you before we start a little bit on your decision to move to EXP tell listeners some of your real estate background because you've got a fairly large business you run up in the Dallas Worth area. TIERNY: Yes. So I've actually been licensed since 2006 and I did a little bit of flipping. Before that I was an investor. Up until then and got my license in 2006 got my broker's license in 2008 I had my own brokerage before I went to KW about four years ago. And then I went to KW for like I said four years and then excited about the opportunity to recently switch over to EXP. KEVIN: Awesome. And so I know you said you did some flipping and had your own brokerage Keller Williams you had a fairly large.... I see you're very visible in Dallas Fort Worth. What's the size of your team. TIERNY: So I have 15 agents right now. So we've grown significantly. Last year we had about four. And just with the opportunities that we've had and really changing over to EXP we've grown significantly over the last month or so. KEVIN: Oh fantastic. And even with the four agents let's talk just a little bit about your business because I know the audience will be listening to this you know could be in almost any franchise or brokerage but a lot of them will be in exactly your position. They have teams. So what kind of business do you do from a volume or unit standpoint. TIERNY: So we did a little bit over 200 transactions last year with four people and a little bit over 40 million in vilume KEVIN: OK big business if you will. And I know for most people I had a fairly large team and did about that volume in St. Louis and I know that when I was a lead on a team the thought of changing brokers and moving around and you know with all that number of transactions and listings is a big undertaking. What made you decide to even take a look at other options. TIERNY: I think the biggest thing was the ability to be in partnership with people like Brent Gove. Adam Bailey, Jeff Willams people that run really big businesses and being connected with them through the revenue share piece allows us to collaborate and help each other's businesses. That was the biggest determining factor for me. KEVIN: So if you talk about collaboration for someone listening if they've gone through some of the other episodes one of the things that Tierny is talking about that has been echoed on other interviews is this really truly agent focused business model and I want to have you give us your perspective on it I mean in other words everyone whether they are in the same revenue share group or not is all focused in the same direction. I know that I've done this and I'm sure you have as well where somebody either from our former brokerage or elsewhere has questions about the EXP and they'll reach out everybody are shareholders and the EXP is all pointed the same direction and we're really agent owners and it's something that I want to get your perspective on this. It's not really visible from the outside and I think people appreciate it until you get inside and the collaboration is pretty incredible isn't it. TIERNY: Absolutely. It's amazing it's something that can't even compare and I've had my own brokerage I've been you know with like a KW Where you have people in the office and the support and the collaboration that I'm seeing in a virtual world. It's awesome. KEVIN: For anybody listening to this. You know I come from the same brokerage background that Tierny did. I was a team winner and I also had a team at Keller Willimas and it's an awesome company. I mean they do a great job with mastermind's and mega camp and all these other events. The difference that I saw after being around EXP is it happens every day. In other words there's a very active proactive collaboration. There's a lot of sharing of information. So instead of it being a couple times per year when you run into people in person at an event the cloud based system allows that collaboration to happen regularly. I know that for example you know you still have the person things I know Brent Gove was in Dallas last week at the end of the week for a mastermind session locally there. I don't know whether you were at that or not but there's a lot of face to face as well. So you know for anybody listening it's not just cloud based I mean we certainly have a couple events per year but in addition to that there are groups like Tierny referenced and Brent Gove is driving a lot of those Gene Frederic is as well where we're getting the best of both worlds and that cycle of time between the masterminding is much more frequent than it is if you have to wait for one or three mastermind sessions per year or somebody listening I got to believe that this was a big factor for you too. In other words you get to work with these high producers and others and this doesn't just apply to somebody that is your basis that you're doing 200 transactions per year. We have a lot of cappers and megas in the making that are also plugging into the system as well and I'm sure you're seeing that in Dallas. TIERNY: Yeah absolutely. We have one of the first agents that signed up on to be part of the you know mind down line with somebody who was on my team previously. KW And he left to build his own team and it kind of cut off because he wasn't connected to me anymore. But at EXP you can still build your own thing and share your resources and build together. So there is definitely local support there. Face to Face. I'm excited. KEVIN: I'm glad you brought that up because for rainmakers if you will or Mega's that have teams I certainly had a big team with my regions and listing specialists that is in a franchise system because of the structure and how the teams are normally oriented something that's a challenge right. You get talent on your team and then they want to go off and build especially if they're very talented. And there is no play for them where there's a win win between the rainmaker and that's causes necessarily strife right. You describe somebody leaving but in the EXP world you saw Brent do this. I'm sure you're doing this with your team. Between the revenue share opportunities and the stock and equity. It's really a retention tool that also allows people to grow and it's not that same sort of win lose if somebody decides that they're at the point where they want to branch off and do their own thing because for somebody and your revenue sharing group that also has grown up and wants to do their own team. It's not a loss for you. Right. You're still going to benefit by helping them produce so for somebody in a franchise system. This is absolutely revolutionary for the industry. I mean this does not exist as I'm aware in any other franchise system. There is no effective way to create revenue sharing or no effective way that they're going to get rewarded in a fashion that when they start their own team if you will if that's what they're doing that somebody like Tierny can go I'm going to help you grow. I'm going to help you succeed because not only that like you described this well in the previous brokerage they left because they felt uncomfortable potentially. I don't know about this case. How much do you see that affecting the industry. Because I think that's going to be a disrupter and a game changer. TIERNY: It is definitely a game changer. As a leader you want to help other people grow. But because like you said the challenges with the current models the way they're set up it will sets you up where you can't do that. So you have to face the inevitable as you're helping people grow you know they're going to want to do their own thing. And the model that you speed just it gives you a freedom to say hey I'm here to support you I want you to get bigger I want your you know your business to grow and I'm going to help you do that. And it's really just because the model supports that. So I do think it's going to be an industry changer and like I said it gives us freedom to continue to grow and continue to help in an industry that's being challenged not only internally you know but also with these other companies like open door. You know that offer certain things this is going to allow us to continue to provide value and not just be for the top 1 % of people who are making it impact you know on our clients. I think with the model the way it's set up it's going to allow more people to be able to provide value. KEVIN: It really does. I mean if you look at you know EXP was.... in April it'll pass 10000 agents so I mean we already have that many in process with onboarding and we'll be north of 20000 at the end of the year and these are all people that are cappers or better. And there's a disproportion about in the industry of those that are moving because they see this value in it and it's something that I'm seeing. Also I'm going to ask you this because you were on brokerage before we're seeing brokers do this too. In other words in a traditional independent brokerage model I mean this is not the case if you own a franchise because you got to figure out what to do with your franchise. But if you're an independent broker you have sort of more control of your destiny. Gene and I were in a meeting with somebody this week and she's got 100 agents. She got it immediately. She's like oh I could take 50 of my agents. Put them under me and then I could ticket the rest of the 50 agents and put them under my key people in the brokerage that are my leaders and reward them and help them benefit. And then they in turn will learn about how to now mentor and get more agents in. That doesn't exist in other models. In other words the synergy of people immediately getting wow i when they when we can all benefit together unless you're your own company that has the equity in the stock or if you happen to work for a company and I'm not aware of them I mean we can talk about the one that is the diametric opposite which will be somebody like Redfin. Right. They have people down to the level of being an employee right. There's really no upside for them right there just essentially an employee and they get some sort of incentive compensation but they don't have the stock play they don't have the revenue share piece. And I believe this is going to be what disrupts the ability for them to effectively field a large number of agents as employees because now the option exists in other words people are coming out of franchise systems and saying OK what's next. What do I need to do. And with the a large number of Mega agents like yourself and even cappers that are leaving. I mean Daniel Baer is a perfect example. In his interview we talk about him leaving Keller Williams as well in San Diego. And since I interviewed him they've gone from somewhere in the neighborhood of 17 or 20 agents in San Diego to over a hundred in less than three weeks. You're seeing that in Dallas right you're coming in a little bit later. I don't know an agent number you were with your team coming over but you know when Gene Frederick started there were a handful of agents in Dallas and there's close to 900 now and it's what I call the EXP effect. It's like people are sitting in markets and they're like well there's only a handful of agents there's like St. Louis is a market I know. And I think there's 29 or 30 agents up there and you know Gene and I are running a big event next month and they'll have hundreds of agents when they look up a year from now. And it's the effect so if you're listening to this and you're in a market that was like San Diego just get ready because there are agents like Tierny in your market that when they come the rest of the market just gets disrupted and shifts. Don't you agree? TIERNY: Yes absolutely. KEVIN: When you look at somebody maybe listening to this and thinking about well you know I see this. I'm not sure what to do. I've got you know 40 listings active in pending. I've got a big business. What would you tell them as far as due diligence or taking a look at this. What would be the best way that you think they should evaluate this. TIERNY: I would definitely look at the current structure and agreement that they have where they are concerning their listings so most brokerages are going to allow you to close anything that you have pending out under your current agreement and then move all of your active stuff over with you. But I would make sure to ask about that first before you know. So that isn't challenged in any way. And then once that's figured out... really just sit down and look at the opportunity that's here a way you can have ownership in a company that is going to be the number one real estate company in the world. And from my perspective I did a very conservative growth projection with and when I sat down with them in Mexico and we looked at just 5 % of the agents told 35 people about the company in four years will be close to like 344000 agents. So looking at the opportunity to have ownership in a company like that that has disruptive technology that allowed you to build your business and provide value to the people that you're surrounded with. When you look at that opportunity for what it is there's nothing else that's better for us. So making plans to transition your current business would be what I would do and what I did. KEVIN: And absolutely and you know you talk with Gene Frederick and others and you know Don Lawyer did the same thing you both were in the same market center and I'm sure you were paying attention when he was doing his due diligence. The one thing about you EXP and I would say this for listeners and you know attorney you'll give her contact information before we wrap up today is regardless of who introduced you to you EXP the culture of this business is we all win when we get great top producing agents which is what's happening at the company. So if you listen to tourney's interview or somebody else's it doesn't matter who introduced you to EXP you're going to talk to anyone who's a peer or somebody you would respect as a reference both because maybe you have a similar business or you have a need to get a couple of references. I'm sure Tierny you talked to more than one person. It's an important part of the due diligence so don't think that just because you were introduced by John Smith or Susie that that's your reference point the culture of this business as we're all here to help you it doesn't matter if it's me. Doesn't matter if it's Gene Frederick or anybody else we're here to help you it doesn't matter how you were introduced to the company and that's part of the reason we're doing this podcast is for you to hear in people's own words why they came to you EXP. Are you getting reference calls from people like you maybe have never met or didn't even have initial conversations with. TIERNY: I haven't yet. One thing I can say is absolutely correct. What you're saying.. I have been with KW for four years and of course Don Lawyer and myself werw at the same market center I never really interacted with him a whole bunch for the four years that I was at. KW When he saw that I came over to EXP I did get a text message from him welcoming me to the company. He said he was very excited to be with the EXP and I didn't come in under his downline so we're not connected that way but he did tell me that if there was anything that I needed I could reach out to him and if he could answer any questions for me and he welcomed me to the family so I thought that was like to me it was a culture shift just from what I experienced with KW And Don. And then what I experience with EXP and Don it was just a totally different culture. So I wanted to make mention of that. KEVIN: And that's a great example. And you know the audience listening to this podcast many of them are at a franchise or they're independent and maybe they were introduced by an agent their market or somebody that on a transaction with. And your point is very very valid. Just realize that if you're doing your due diligence and there isn't and your franchise office another person that just recently left to go to EXP this is a whole nation wide operation. Right we're going to be through 10000 agents by the time this episode is live. There are going to be plenty of people for you to talk to and as Tierny said from a cultural standpoint we're all here on one team. We're all here and that's a very different thing where especially in franchises like the one that you and I came from. There are great companies but they're all islands right. You were in one market center a big one that does a ton of volume and Arlington but you guys didn't interact you didn't collaborate. You didn't mastermind. Whereas now everybody's pointed the same direction and willing to help aren't they. TIERNY: Yeah. KEVIN: If you look at the market going forward you talked about doing some projections and where the company's going to go you know when you look at the company growing who do you think the perfect fit is. In other words there's a lot of talk in the market. I want to address the sort of the nonsense and I'm going to hit the first part of it and then I'll let you talk about who you see joining in Dallas and you know in your downline etc.. Because there is a number of people out there are trying to talk about people are coming to EXP and leaving right and I'll hit the turnover rate right over the head. I mean we have about an 8 % turnover rate. It's very low for the industry. You know a big franchise system including the number one is running 36 %. So you don't get confused if you're having somebody in your franchise system tell you that everybody is leaving because that's not the case. We have great producing agents is that not what you're seeing as you're dealing with agents in Dallas that these are cappers so to speak and better aren't they. TIERNY: Yes and I happened to be on the Finance Committee at KW which was like a close group by invitation only. And we got to look at the books and we got to see how many people left and came. So I agree with you like that rate is high. And I think part of it is because of the structure and I'm not just talking about KW as a whole but just nationally for brokerage's because the value of actually bringing people in and providing them with a network of core people that are going to help them and give them value to build their business not only just with the same wash rinse and repeat where you're doing the same thing over and over but providing an opportunity to have passive income providing an opportunity to have retirement through the stock. It's just an amazing platform and model. And I think with the way that it's set up it allows people to connect more and help build more. And I've only been with the company for a month. I've brought in close to 30 people. I haven't had anybody leave yet. I know the person who brought me in hasn't had a huge turnover at all. I don't think anybody's left him and he is close to like 90 people. So I think it's just the value. Like we're plugging and and we're helping each other build and we're looking at this as a long term business and partnership and helping each other grow and making sure that our company is stable that we have ownership and with the stock. So I think it's a different mindset. You know we're not just coming to get what we can out of it. We're coming together to build something bigger than we could do without each other. KEVIN: Absolutely and I'm glad you brought that up because you know for many many agents they don't want to. Good bad or indifferent. Right. There's no judgment in this comment. Have a 200 transaction 40 million dollar business. So you know they're plugging away doing listings and buyers and they've got a good business right. They cap and they run a great business. The stock equity opportunities you know to be a shareholder and do stock and the revenue share opportunities are something that just don't exist. And it's a game changer for so many agents because you don't have to bring in 100 people to change your life from a residual income standpoint you don't have to do anything other than cap and then if you do the 20 transactions on top of a cap which is not 200 transactions in markets especially on higher priced markets you're going to have the opportunity to be an icon where essentially you're getting the cap back in equity. So it's become such a huge game changer for people who don't want to have giant teams and I'm only saying this because somebody could possibly be listening and saying well you know I don't want to have a 40 50 million business. I'm happy doing 5 million 10 million 12 million and I see so many of these people coming in and I was in a meeting recently here in Texas where an agent that's been with the EXP for two years said I have 155000 dollars in equity in my account in less than two years. I don't have a 30 million dollar business. I'm a solid double capper I do four and a half million dollars a year. And I want that. I want that to sink in for somebody listening that that is them because I would challenge you to take two years look at your PNL look at how you run your business and come up with a hundred and fifty thousand dollars in an equity account. In other words she's not doing anything other than what's offered and what she will qualify for in the business. And this is a game changer because for so many people this is their frustration right there. Good producer but they don't want to be a mega mega giant team which is fine. The majority of the marketplace is that right. And previously they just didn't have that opportunity. They didn't have the opportunity to say why did to create wealth. I need to figure out what my residual income stream is you know and the traditional stuff is in a lot of the franchises is start buying property right. Go invest and get that and then they have to figure out in order to fund that. How to do a much more production. Right now we're back to the same problem again. They don't want to have a giant production business and team if this is you. This is why you need to dig in and talk to people like Tierny because even though her business is a larger scale than yours or any of the other episodes that we've done or if you want to reach out to me or gene we can explain to you how somebody can work here at two years and how they accumulated 155000. You know there's an agent in Tierny's market that's been here a little over two years and she's got 700000 equity and she's roughly at Tierny's volume. You know Sherry Elliott is her name and you can listen to her episode. That is a huge game changer. You know and if you're in a franchise system that does profit sharing there's enough people now that can point to. They had attracted agents at EXP and they had previously had agents they got recruited into the franchise system. They know the difference right in the revenue share off the top. In other words getting paid like we talk about on the podcast as a regional owner is a 10x or more difference. In other words you know what your number is. For profit sharing and you're listening to this. Multiply it by ten or more. If you're planning on attracting people like turny talked about being here a month and how many people have come over if that's you right you're listening to this and maybe you are active in your marketplace and you've got people in your profit share go take your last profit your statement and multiply it by 10. If you're going to be purposeful income over EXP that's a game changer from a residual income standpoint because unlike the complex formula and the unknowns and profit sharing revenue share is really easy is an attorney. It's a formula that you could put on a napkin and I could show somebody over coffee. TIERNY: It's very the atoms that KW for four years and never really understood the proper share P and a lot of people didn't know how to explain it but I definitely understand the revenue share piece it's very simple and you can just explain it and write it down on a piece of paper. KEVIN: Absolutely. So before we drop off today any final thoughts things that I didn't ask you that you think would be good if somebody is considering EXP to consider? TIERNY: I think it's just an exciting opportunity. I would say take the time to really sit down and understand what our company is offering because when you look at it and you see the true value in our industry there's nothing else like it and we're really at a place where it's still the beginning. You can still get in to this opportunity and connect with what's right for you what's right for your business. And it doesn't matter. The majority of the people the 30 people that I brought in didn't have big teams. Their single agents who were cappers on a capper in our market or an icon in our market does about 28 transactions a year. So that's a little bit over like two transactions a month. It doesn't take a whole bunch to utilize the money that you're already investing at another franchise and get that back in stock ownership in the company and start building something bigger than just the standard business. So I would just encourage everybody to really sit down and understand the opportunity don't go off of what necessarily other people are saying because there's huge value here and I'm excited to help anybody and answer any questions that you guys might have. KEVIN: Fantastic Tierny how would they reach you what's the best way to contact you. TIERNY: So my cell phone number is 469 446 8971. And text is always the best way to contact me. KEVIN: Fantastic. Thanks for coming on the show. TIERNY: I appreciate you.
Daniel Beer Interview Joining us today is Daniel Beer. Daniel is the CEO of Daniel Beer Home Selling Team in San Diego California and has been in real estate since 2005. In 2017 his highly leveraged team was the top producing team in Southern California. Daniel shares his story about his business with us, talks about his decision to move his already successful business to EXP Realty and explains why he believes EXP is the most important opportunity that has ever existed in the Real Estate industry. Learn More about eXp Realty - Click here to watch a quick 7 Minute Intro Video. Remember our disclaimer: The materials and content discussed within this podcast are the opinions of Kevin Cottrell and/or the guests interviewed. This information is intended as general information only for listeners of the podcast. Listeners should conduct their own due diligence and research before making any business decisions. This podcast is produced completely independently of eXp Realty and is not endorsed, funded or otherwise supported by eXp Realty directly or indirectly. In this episode Why EXP is the most important opportunity in Real Estate How easy it is to move to EXP Many mega agents are making the move to EXP Creating revenue and passive income through EXP EXP is currently the fastest growing company in Real Estate The benefits of moving to EXP in these early stages EXP is like buying in to a business without paying for it Want to Learn More about eXp Realty? If you are interested in learning more about eXp, reach out to the person who introduced you to eXp or contact Sean to inquire or ask questions. Contact Daniel via his website www.fastforwardwebinar.com Noterworthy "It's killing the traditional model and this is the highest value proposition available today to people selling houses." "Me being at EXP has nothing to do with wanting to move away from Keller Williams vs it actually just has to do with me wanting to move towards something that I see as being a phenomenal opportunity" Daniel Beer PODCAST TRANSCRIPTION KEVIN: Welcome to the show Daniel. DANIEL: Thanks Man. It's good to be here. KEVIN: Looking forward to the conversation.. The market and the industry are a buzz when you made the move recently but before we jump into all that why don't you give a little bit for those that maybe are listening to this that don't know you personally and know what you do as far as your real estate practice a little bit of your background. DANIEL: Sure. So having been real estate full time since 2005 and this past year 2017, my team was the number one producing team for all of Keller Williams and the Southern California region IGCI. And number two buy units. So we closed 222 houses for 164 million dollars in sales volume. We have what I call a highly leveraged fully built out team everything from operations, listing management, transaction management through company listing, showing agents inside sales and of course our sales agents or sales executives. It's been an incredible journey. And I went through the same Genesis that I think a lot of agents go through. I like most other stumbled into the industry. In 2005 I was 23 years old and my dad was about to sell a house and of course I got licensed because it's unfortunately are too easy to get licensed. And I started selling homes basically just doing friends and family business and that was cool. Up until the market crash.. The market crash happens we all know how devastating that was. All the friends and family business goes away. And I'm left to either make a decision to leave the industry or learn how to build a true business that can predictably systematically create leads in income for my family. So fast forward there were a lot of learning that you know that I went through is some winds some fails and here we are today having a ton of fun and now at EXP man I can't even begin to tell you how energising this has all been. I haven't had as much fun in a long time. KEVIN: And that's great. I like Gene Frederick we're team leaders and in leadership at Keller Williams I was with Aaron Lancaster and Andy Allen in the early 2000s and they had a team and we ran and we were doing about 600 transactions a year and that was the genesis for the whole MREA and so we thought we were having a lot of fun back then but it's nothing like this. So tell me about the process. Obviously well before you decided to move you started to hear about the EXP and you start seeing agents moving. What was the genesis for you making the decision to take a major big business like yours and make a change. DANIEL: Yeah it was an interesting journey. And so for me my personal story goes back to being in Gary Keller's mastermind of killer Williams so I have to say by the way it was a wonderful company. I was very very happy there and me being he has nothing to do with wanting to move away from kW vs it actually just has to do with me wanting to move towards something that I see as being a phenomenal opportunity. So anyway I was at Keller Williams. I was part of Gary Keller's mastermind. And you go back over a year ago. All of a sudden in our group we had a Facebook group. We suddenly started having people asking you know and making comments asking questions about EXP. And you know questions like "EXP just did this in my market" or "what are you guys doing about EXP saying this" or taking this person or "oh my god you hear we lost that one". And I found that to be really interesting because first of all I don't know who the EXP was. I had never heard of it. And of course at the time it was like a 2000 person company. And so I started to asking myself this is where do you think it's curious that the most elite group in the biggest company in the world or at least in North America is talking about some 2000 person company. But I have never heard of. So that's over a year ago and you know going back to say mid 2016. And the interesting thing about that too is that.. that group never talked about Berkshire Hathaway and they never talked about Remax they never talked about Coldwell Banker. They never talked about anybody. Yet they were talking about some little 2000 person company. So that's kind of interesting right. That was my first introduction to it all. I have another group that's a very very high powered mastermind. Everyone's number one or two in their market. There's about 35 or so people in it and that group all of a sudden three of them went to EXP. I'm talking about big heavy hitters. And so I learned the model and Kevin I think this might resonate with you. You know there's an evolution in this whole thing just when you hear about it, there is when you learn the model. So you go back over about a year ago. I understood the model okay call their stock. There's revenue share. There's the fact that you keep selling houses right? We're not being asked to become essential oil sales or anything we're just simply selling houses as stock revenue share. Cool. I got it. That was a year ago. But then there's when you finally kind of see the entire picture come together Kevin and you see the real power of the opportunity to step into the fastest growing brokerage in the country in the very beginning of the first inning. And when you see real productive agents start moving into the business. For me that was Curtis Johnson. Johnson was another guy that I was friends with he's a guy I followed actually been stocking years back before we knew each other. I was trying to learn from him. Now all of a sudden he goes yes. There's just that moment when you say wait a second what is going on. Too many incredible smart strategic business people that I respect are making the same move to the same group that Gary Keller's private mastermind's talking about. That's interesting. And so... you know I'll take a pause here Kevin in case anything to throw in there but when you start seeing that and then start seeing how truly financially incentivize the people at EXP are to help each other and essentially make it true the thing that we all tend to say in all brokerages that we are all for each other we want to share. We want to do this. Not in my market right or not too much. Not my true secret stuff. Well I started finally seeing a model that really incentivize people to open up completely and help one another because everybody financially benefits and the power of that and being able to go from one bucket of income to three right? just simply selling houses getting checks. It's also owning your brokerage and having passive revenue became so compelling that I made the move and I have been having a ton of fun since. KEVIN: Couple of interesting tidbits that you'll know who I'm talking about I'm not going to mention by name because I've got a good friend and he's in St. Louis and he's got a mega mega team like yours Daniel. I mean he was my mastermind in St. Louis when he was just getting started and I had my team and we were the number three team in the market. So I was talking to him about EXP and he said I get it. I know the model. Don't worry about it. Let me tell you this I've been accumulating stock and EXPI for over thirty four months. I've got thirty or forty thousand shares. I can't tell you the number of people. And he's with an NRT company. So guys like that are buying stock and the EXPI. There's a mortgage lender in central Texas. I think he's got close to 50000 shares. The industry is betting that this is the new model. And so some of the stuff that you know I just wanna throw in here because this predates your entry into KW and I agree with you it's a great company for people like Gene Frederick and I and others. We were there in 1999 when Keller Williams was a small little company and I'm going to tie down why you said it's kind of interesting to you to give you some perspective. Gary Keller and the team and the regional directors are all getting ready to launch a ton of market centers. They've got somewhere around 50 700 agents in 1999 and they have to go through the process of fining agents finding investors they have to go the 14 to 18 month process that other people have talked with me about on other episodes mentioned this. It's a slow process right. I could have met you in San Diego. Got you all excited about a market center and then 18 months later we'll be all through the process and opened. So now Brent Gove and I always give the story because it's most enlightening when you listen to his interview you'll hear him say this. He was in San Antonio for the EXP meeting met with Glenn met with Gene met with the team brought some people that were his best Devil's Advocates said poke holes in this model. Tell me why I shouldn't do this. Ten days later he is up and operating as the EXP and basically being powered by the brokerage. So the reason that people like you are seeing these antidotal people dropping in and out and it gets mentioned 12 times at fam reunion is this is Netflix versus Blockbuster. If you're sitting in the private room with Gary Keller's insiders not the people in the company but the guy that he's paid millions of dollars in consulting fees to they're going to tell him this is Netflix vs. blockbuster. You have all this bricks and mortar. You have all these franchise locations. It's a great company but so is Blockbuster and they couldn't pivot they didn't pivot. DANIEL: It becomes very difficult when you wrap up in hundreds and hundreds of franchise agreements. KEVIN: Absolutely. The interesting part about that I wanted to tie that down is there were fifty seven fifty eight hundred agents now eight years later they were at 78000 agents right. They executed extremely well. There were a bunch of us in leadership and I ran some market centers in South Florida. Gene was regional director as well as a team leader and phenomenal model lots of execution. The thing is and this is where Gary and the others realize this if it takes some 14 18 months to open a markets and with 100 agents EXP adding agents at 250 plus per week and you don't need a slide ruler to do the calculus to figure out if we're disproportionately high on producers like you or in the parlance of the franchise system cappers or better they can figure out what the picture looks like in 3 years when the company has 100000 agents. And I want to do two more data points you may not even know this in a one week period somewhere around Baltimore one of the market centers number one through five at one market center in one week they all basically said we're going EXP. So that is how you end up with a small little company being mentioned 12 times at fam reunion. The momentum is crazy. DANIEL: It is an incredible thing and here's how you know I truly believe this will be the first 200000 person company in North America. And the reason why and that it will also get there much faster than what is currently the biggest company is simply because let's imagine that you're an agent somewhere in remote Montana. Okay. And you want to be at Keller Williams and let's rewind right years back is I don't know where the market centers are but let's imagine it's the year 2000. And you want to be a Keller Williams And you're in remote Montana. Well they had to award the franchise fine the space build up the space they need to get X amount of what they called capping agents to be able to finally launch. And then eventually you can join that. That's a long process. If an investor chooses to build a market center in your area. You know that's that could be a one or two year process there. And again if they choose to build a market center in your area well you could be on a remote mountain top somewhere in Vermont right now without an agent within 500 miles of you and you could be speed this afternoon. And that is why this company without the restrictions of brick and mortar and traditional franchising territories and regions. When you remove all that you allow scale to happen at an exponential rate versus what companies not just in real estate but in any industry can traditionally experience. And so when you take all that in when you hear a guy like me that know I've had the privilege of being connected to some of the most incredible producers in the country I have a unique point in that I know what those conversations are. I know there's market centers being quickly unwinded so that people can move to EXP I know that headline making names across the country across every major city are all in motion right now. Right now is an opportunity that I saw to essentially step into Keller Williams in 1990 and in the very beginning the first inning. It it's been around for nine years by the way. But I would still say this is the first inning of a productive agents that will quickly and exponentially grow the awareness and the conversation which is already the loudest conversation in our industry is only being magnified each time one of these large producers in a different region nor a different city moves to EXP and the real aha is that if you can do that and you can have world class uplined support from big influential names and people and you're the first productive agent or among the first if you're in this first wave the first inning of agents that are really selling house it's moving into it. Yes. Well everyone wants to know about it. The conversations will naturally flow to you. What I saw Kevin is an opportunity to essentially own my region. It's like buying a Williams region without ever having to pay for it. And that opportunity was when I could not even I had not pass up. And this happened just like that right?. This is the loudest conversation in our industry. KEVIN: Absolutely. I mean I want to come back to what you just said because for people we've been talking a lot about wins it doesn't matter if you're at Remax or even if you're independent. The analogy of the fact that you can build a business where it's the equivalent of owning a region something that was out of reach for anybody in the franchise systems is the reality. And so if you're Daniel Beer and you're a major producer in your market and you have a couple of choices for additional income this is where I see the next phase of this momentum and rapid growth. You could go expansion right go into multiple markets and there's a lot of the franchise focus on that and certainly we're starting to see a lot of talk about this loud conversation from people looking at the EXP from an expansion standpoint and there's a lot of momentum there but it's that revenue share regional ownership if you will in the building a business around that that we have enough demonstrable examples whether you listen to the episode by Pat Hayes look into the Gene Frederick ston or even Sherry Elliott and Dallas. It's incredible now and I think the market with this loud conversation can no longer go. Well yeah. You know what they don't have anybody that has any real success because now regardless of how you've been introduced to this episode or any of the other episodes and as my guest ask whomever introduced you to EXP to go get you success stories. It doesn't matter if you want to talk to Daniel you want to talk to me Gene Frederick Pat Hays. We're all agent shareholders we're all here to help you. And again I want to get your perspective on this. Isn't that the craziest part of this culture that's not apparent from the outside. Anybody will help anybody because we're all age owners we're all either going to benefit through share or through our ACLI because the stronger the company can become the more our stock is worth in the most simple terms. Like I said the math finally makes sense. It's the first time it's been able to put the numbers and the altruistic or altruistic aspirations finally in alignment with the numbers and the math. It's a beautiful thing. And here's something I was listening to as I might say to myself OK that's helpful and great. So the 160 million dollars of real estate in the last 12 months. Sure. What about me. What I have seen over and over and already has set for us here locally in San Diego just within our first literally the beginning stages of us being at the company is if you're 5 million or 10 million or producer if you're an agent that's been operating with integrity showing up as a professional in your marketplace you are vastly underestimating your influence whether it be at a branch level or a zip code level a neighborhood. A town or county or city or state your region your underestimating your influence and keep something in mind. Again you're stepping into the loudest conversation only is being magnified by every big iconic agent keeps coming into the company which seems to now be happening on a weekly basis. So I'm stepping into the middle of that and your boots on the ground doing deals. Talking to agents talking to a hundred plus agents on a yearly basis. No one's asking you to go become a recruiter. In fact make sure you keep selling houses. Do what you do sell houses. All you needed really did was alter 10 percent of your awareness 10 percent of your script when speaking to an age. Something as simple as closing a deal out with somebody and just simply calling them hey is great doing that. You know what let's do another one soon. Let me know. Let me know if you listening coming up. You know I had the same conversation you're already having. And then just adding. And by the way you mentioned earlier during our transaction you know you'd asked me about EXP. We're actually having an event or there's this wedding or going on or blah blah blah. What I'm trying to say is that someone like me someone like Kevin and a lot of other folks across the country there's a lot of opportunities to it regardless of sponsorship there's a lot of people like us that have already created the system. Or you could just alter 10 percent of your awareness and introduce people into the system so that you can continue to do what you do and sell houses. You're going to go from what I call one bucket to three real estate sales but can we just sell a house and get a check. Transition to now having ownership. Because you actually get ownership simply for doing their jobs and having passive revenue here locally. Kevin like it points out an agent great agent just you know your bread and butter productive long time respected agent. She's not a YouTube star she's not on stage. She's just doing what she does in her local market place for some time. And she has five hundred ish dollars of profit sharing the last 12 months that her previous company her revenue share based on which she's already introduced. It's unnatural attraction and conversations coming to her is already on track for seven thousand dollars this year. And I think that's incredible. I think that's the most incredible thing because it makes seven thousand dollars in passive revenue in San Diego. You need to invest about a hundred and twenty thousand dollars cash to do it in real estate on a rental. So that's power. KEVIN: There are tons of examples and you're going to see them on these podcasts episodes. I mean I always love to tell the story of Sherri Elliott. It's one of the other episodes she was age at number 14 in Dallas and they have over a hundred there now. So when you look at the growth of the company the other thing I want to point with that comment is even if Daniel's point you're in a market where there aren't 800 agents. Here's the deal if you're in a market like San Diego it's coming. Right. Less than two years ago Dallas had 14 agents they have 800. Austin's over 315. I'm just picking a couple of markets. Daniel have every confidence that you'll be at a huge number in the southern California San Diego market and it will be but here's the point nobody in real estate does a good job of saving like you can with an opportunity like EXP. I want to talk about her two numbers that she talks about publicly. One is the equity she's been hurt less than two years she participates and in the GCI program where she dedicates 5% right? And if you're at a franchise and you pay that royalty. Think of it as the same thing off the top she has. And when she told Gene this recently, even hundred thousand dollars in her stock account in EXP stock and less than two years. So I challenge anybody listen to this. If you're an independent you're in the franchise model and where you are you're never going to see something like that. We were telling the story and one of the lunch and learn actually explain meetings and one of the three agents from Austin was in there and she said well I don't know nearly as much business as Sherry does and this is your point. I probably do a tenth of what she does in production she said. Isn't it interesting that my stock portfolio in less than two years of the EXP stock is 155000. I've never seen that much money in a investment account my life. Those are why Daniel's point of you don't have to be 150 million dollar producer with a big team. You could be a capper in that parlance. DANIEL: Well the story I told news about someone that's been in the company for three weeks its simply for this reason. And really this is the thing that people have to take with them. If you go and see who's making six figures profit share. Keller Williams which again a wonderful company that I love respected. Gary Keller will forever be one of my biggest influences if he goes to you. Who's collecting six fingers of profit share at Keller Williams what you're going to find is that it's not the superstar agents it's not the guys on YouTube on stage and being created around panels and it's not the celebrity agents that you whose names you know today it's actually the people whose names you don't know who were simply there early period. Now that doesn't mean they just showed up and didn't do it thing. And he EXP isn't that either. You can't just show up and not participate. It's not a get rich quick and just you just sign here you a million. No that's not what it is. But the people collecting six figures of profit share at KW And that's profit share revenue sharing exponentially more powerful only to talk about why in a moment. And a key reason why as we go deeper into it the number one reason why is top line revenue can't be manipulated. People collecting six figures of a profit share in this. You have to allow them to land. It's not a celebrity agent. It's not the people you saw on stage at the last conference convention etc. It's people that were there early. In my view is 1995 all over again being given the chance to enter. What's about to be the fastest growing company in the history of North American brokerage and I might be wrong right. I mean I've done an incredible job of being right more often than not in terms of my vision of where to take my business which is how we've got here. But I've also been wrong but was a guy like Curtis Johnson also rock the guy like Jay Kinder was a guy like Frank go wrong and Gene Frederick are all of these producers Kyle Wessell 200 million dollar producer was he also wrong are we all seeing the same thing and are we all wrong. Well I'm excited to find out. Here's the thing. The odds of all those people being very low and if we are we'll just go back to selling houses because that's what we're doing is we're selling houses. And so you obviously can hear the enthusiasm and buy my voice around what's going on here. It's just been on fun I keep coming back to that. You know what I'm talking about Kevin like me the amount of energy that you feel around all this. It's something I hadn't felt until... KEVIN: Absolutely I would agree with that completely. Before we drop off today if somebody is listen to this and they want to reach out to you and talk more about it what's the best way to reach you. DANIEL: Well two things you could do. One is my name is Daniel Beer. So just like the drink I'm easy to find. Go get me. Call me e-mail me it was jump on a call. The others go to fastforwardwebinar.com spell out the whole model. We spell out exactly why we've done what we've done not just my self on the way but some other mega producers that have made to jump as well. Independent brokerage's you know I'm giving you the KW because that's my history but independent brokerages are seeing that this becomes a platform where they still get to operate their brand. They're what they wanted to build their brokerage associates operated they just can get rid of this stuff it's not so unlike the broker stuff repurpose that time to building your passive revenue it and not have to take your eye off the ball at all as it relates to real estate sales. So you want more detail around it it is fastforwardwebinar.com and yeah it takes a whole webinars. The reason why is it's a completely different model. It's a model that I hadn't seen in my entire career. And it's just different. And when we've been looking for what's going to disrupt our marketplace. You know Kevin we always thought it was going to be someone that would create a button that would allow a buyer to purchase a home. That's actually not where the disruptions coming in disruptions coming in the brokerage space and how the agent is demanding value from their brokerage on a level that had never been previously demanded before it and that's happening more and more. It's killing the traditional model and this is the highest value proposition available today to people selling houses. KEVIN: Absolutely I agree with you. Thank you so much for coming on the show. DANIEL: You've got it!
Sean Purcell - Interview In this episode joining us is Sean Purcell. Sean started in the real estate market back in 1987 when he was in college and has been in most aspects of the industry including home building, loans, residential real estate and moving on to becoming a coach and a productivity coach with Keller Williams. Sean talks to us about his decision to leave the franchise system and becoming an owner of a fast growing company. He gives us his prospective on EXP from an agent stand point and an independent broker that made the decision to move to the agent centric model of EXP. Learn More about eXp Realty - Click here to watch a quick 7 Minute Intro Video. Remember our disclaimer: The materials and content discussed within this podcast are the opinions of Kevin Cottrell and/or the guests interviewed. This information is intended as general information only for listeners of the podcast. Listeners should conduct their own due diligence and research before making any business decisions. This podcast is produced completely independently of eXp Realty and is not endorsed, funded or otherwise supported by eXp Realty directly or indirectly. In this episode: How to become an owner of a company that is getting bigger EXP is agent owned and agent centric. EXP brings phenomenal technology to the forefront for the agents to use. Income, wealth building opportunities and equity differences between the EXP and the franchise system. Advice and steps on due diligence. The power of EXP is most times not apparent from the outside. How to really get informed about EXP Want to Learn More about eXp Realty? If you are interested in learning more about eXp, reach out to the person who introduced you to eXp or contact Sean to inquire or ask questions. Contact Sean via email at Sean@thriveestate.com Contact Sean via phone at 619 993 9888. Noteworthy "Before EXP when you stopped showing homes you stopped making money. This is an actual retirement equity building company you could be a part of." Sean Purcel PODCAST TRANSCRIPTION KEVIN: Welcome to the show Sean. SEAN: Thanks Kevin it's great to be here. KEVIN: While I'm looking forward to our conversation I've certainly have always watched you and your career in San Diego area and was excited to see you make the decision to come over DXP realty but before somebody who's listening maybe doesn't know your background hasn't heard of you before. Why don't you take a few minutes and give your real estate history. In other words your background in some of the work you've done right. SEAN: Ok. For the people who have a hard time sleeping at night. I started in real estate out of college back in 1987 and I've been in pretty much every aspect other than Title. I've done the loans I've done home building, primarily I've done real estate residential. I'd say about five or six years ago I started coaching agents more than I was doing real estate itself. And about three and a half years ago joined Keller Williams and became what's called a productivity coach there and really starting up with the job of coaching agents that became my career. Until we left Keller Williams my wife and I was a team leader and started our own brokerage. We want to do things a little differently and we thought we're the only ones who had this idea about it should be about collaboration and it's about helping one another and having ownership in what you do and in the community. And along comes the EXP was a fantastic surprise. KEVIN: Well it's excellent so you're a productivity coach. I was a team leader at Keller Williams Your wife was a team leader. You know one of the things the whole industry has always touted right? Everybody said it but I want to get your perspective on it now that you've been an independent broker which you and your wife launched in 2017 but when you look at an agent centric business this truly agent centric an agent owned this is different than what the franchises call an agent centric business isn't it. SEAN: Absolutely. The matter of fact I think what EXP is doing is the second major disruption in the industry. This is just my theory but the agent centered model that really Gary Keller brought to the forefront. That disrupted the broker centric model to a large degree and changed Real Estate and I see EXP coming along and saying it's not just agents centric it's owners the agents should own the company. That's a massive disruption. KEVIN: Well I would agree with you. You know for those of us... and I was with Keller Williams for a long time and had a career there Gene-Frederic was there for a long time. And so we spent a lot of time talking about the franchise model and you know kind of dissecting the moniker around agent centric business. Now you can say you're an agent centric national franchise or global franchise allow the agent to have their brand right the Kevin control team and that's what it says on my sign. But at the end of the day if a top down... you know the franchise or parent company and all of the things are driven from the top and none of the agents own anything in the business it's not really an agent centric business. You can call it what you want but when we were there we certainly espoused that. I'm sure your wife did as well and it was a moniker and a message that was well-received in the market. I agree with you it was highly disruptive right. We saw them open a tremendous amount of market centers and they're a great company. But I think that what's going to become clear and it's already clear is they're not really age centric right. People that just went to family reunion got to hear a three hour speech where Gary Keller told his vision of the world and what he's doing that wasn't based on Agent decisions. It's not an agent owned business and again it's a great company. There's nothing wrong with that but if you're under that flag and you buy into that just know you're not an agent centric business. Gary Keller and others are making decisions for you and you get to live under the decisions that they make right? He announced they are a technology company I think. Up till that point in family reunion the vast majority of the agents thought they were working for a real estate company. They also had a focus on consulting and coaching and training. Well they were told they're working for a technology company. The EXP realty is not confused. The founder of our company is not confused. We're a real estate company so I think the acceleration of the disruption is going to occur because many many many agents especially in that franchise system are going to realize that they don't want to run their real estate practice in a company that's confused about what they do and it is heading down the path of being a technology company and they want to do that the go work for Amazon right? That's a technology company. Or work for Google. With my real estate practice I know with yours, we didn't go seeking a technology company to hang our license with. We want a place that we can grow. Sean from your perspective you're a productivity coach. You look at sort of the next evolution you talked about it being the eruption right in the market. What was your thought as an independent broker right. Your wife was a team leader you were a productivity coach out there in the marketplace. You had a great launch of your independent brokerage. Walk me through what the decision was to say you know what maybe we need to make a change and become powered by the EXP as an independent broker. SEAN: Well we had obviously heard of the EXP. This is how it happened so often the number of large teams here in our area moved over to it and that really made us take a hard look at people I respect who are doing a lot of business success are joining EXP. We need to look at it and the more we got into it it's satisfied at the surface two things we really wanted to do which was give our agents the best chance to do business and our industry is being squeezed by technology. If you're not using the best tools you're going to get the hot new EXP brings phenomenal technology to the forefront for the agents to use. So that's what opens in a door. But after that once we really started exploring the revenue share is a model that creates a new stream of income for agents that doesn't exist in any of the other large brokerages. And then the really important part of this the part that it takes time sometimes to really get an agent to see it but it's the ownership.. You know you said that the agent centered model was really agent centric and you're putting a very very fine point on that. It's something that I hadn't thought about when when they came along and disrupted with it came a lot with the agency model, it was with the look backwards. It meant the brokers aren't going to make all the money now. Out of the real estate transaction but it didn't really put the agent in control of the business and certainly didn't give you a reason to cheer and work with the help of their agents. Were as here anybody in the EXP world does better by definition we do better. We looked at that and said this is going to change how it's being done. It's coming through as a force and either we're going to get involved and be a part of this or I think we're going to get it right. KEVIN: And those are points that as an outsider right you said something that's important for listeners to hear. And I'll repeat a couple of the points. One is you knew about the EXP but until you dug into it you maybe didn't know anything other than the observation that in the Kellems parlance cappers and Magas and big teams are moving and other people outside of even the franchise systems are moving and it wasn't until you dug in that you start to see about that. I've had every independent broker I had come on and I'll ask you the same question from a competitive landscape standpoint because we have a number of independent brokers that are like this podcast interview. How concerned were you and your wife as a former team leader about email to recruit as an independent against the value proposition. SEAN: Once we got into it. One of the primary questions I asked her and my wife she was a teenager like you. That's a professional recruiter. I said Can you recruit against this. She said no what they're offering agents I can't recruit against. That was a big eye opener. KEVIN: What's interesting now and we have example after example of this I'm not going to be a number of episodes that people ability to listen to and Sherry Elliott is one of them that they'll see if they want to search for it and look for it was a mega agent with a team from Keller Williams she's in Flower Mount outside of Dallas and she has huge success with it right. She was a very very high producing successful agent and when she found the value proposition I think she was the 14th agent in Dallas. We have 800 agents in Dallas now. So if you're listening to that and you're in a market like Sean's market in San Diego there aren't 800 agents there yet but certainly it's pretty easy to connect the dots now in Sherri's case, she's built a revenue share business that's in the mid six figures and growing in less than two years. The thing that blew me away when I heard this quote is She takes 5 % of her commission and buys EXP stock and she's been doing that since month 1 when she joined and she gets it at a discount that's offered in terms of the value proposition you get as the EXP agent buy her 20% of the market. This is so strategic and most agents are like well that sounds interesting right? I've had agents tell me this. Well let me tell you what it's done for her. And then we ask you how interesting it is after less than two years. She just announced that without paying attention to it just automatically diverting the 5 %. And here's the reality most agents wouldn't even save that 5 %. Thats is the Achilles heel of real estate. We're all busy and we don't save what we should be saving. She has seven hundred thousand dollars in her equity account in the EXP stock in less than two years. So I would ask anybody for a franchise system either the one we just discussed or another one with a balloon or where you are independent have you accumulated seven hundred thousand dollars in equity in two years. The answer is no. If you don't like that figure you're like oh that's an aberration. I was in a lunch and learn in Austin yesterday another agent less than two years here in Austin. Not nearly the producer at Sheri as you and I have a big team she said. I have a one hundred fifty five thousand dollars in equity in my account less in two years so I consider that the big game changer. If you're a franchise system the system is not set up to provide you with equity. That's certainly why Shawn were you and your wife look at this and they're like you want to and your passion about accepting your messaging changing the lives of agents. You want to help people create wealth. And I think that you're new enough to EXP that frankly your job probably drop when I just recited those 2 numbers. But those are one of hundreds of them now. And so the game changer in the industry that I expect will happen is there's plenty of people now just like you and your wife will be on in another couple of years they're going to be able to show the actual numbers. We got plenty of the show the numbers now. But now imagine recruits looking out and going well I'm in this franchise system. I'm not sure oh well why don't you go talk to Sean why don't go talk to Sherri. Why don't you go talk to Chrissy. Why don't you talk to whoever you want to Pat Hays in San Antonio and you have demonstrable numbers where people can go well this is what my life looked like when I was in the franchise system. This is what it looks like now. You're at a decision point. We're not right for everybody but if you like your net worth and your streams of income to look like mine I don't know how you do it where you are. And that is frankly... the technology makes it happen but that's the game changer. There is no other wealth creation business and Gene Frederick and I met with somebody who is been on the Hall of Fame in Inman and she made the comment she said I teach Wealth to Real Estate and Mortgage Professionals in my opinion. This is the only value proposition meaning EXP realty that I would ever endorse.. ever.. as a wealth creation vehicle because that is frankly my frustration of trying to teach real estate professionals how to build wealth. There hasn't ever been a model that allows them to do it. SEAN: Completely agree. I think from an independent brokerage model. Just the just the EXP alone in real estate is enough that agents should be joining the between the technology and the fun and I didn't even mention the support on the back it mean to have people standing behind a desk in the virtual world for technology for Broker questions for agents services for accounting. You can't even get that in a lot of large agencies. So just those tools the alone makers come aboard support your real estate business. Then you start realizing what you can do with revenue share or what you can do with the ownership. I don't want to recruit agents. That's great. You're a phenomenal Real Estate Agent. Be it. Take 5 %. What most companies would charge as a franchise fee. Take that money and invest it yourself and grow with the company. Otherwise... we have a great agent on here named Mary Maloney who is part of a large group that came to EXP and she was doing a luncheon and she got up in front of a bunch of agents and said I don't want to die on a listing appointment. I want to be able to retire at some point. And that's the problem. Before DXP when you stopped showing homes you stopped making money. This is an actual retirement equity building company you could be a part of. There's nothing like it. KEVIN: Absolutely I would agree with you. So if somebody is an agent or a team leader which is the kind of people as a productivity coach you work with. I mean what would your advice be if you were a friend of yours and you knew them whether they were in the previous franchise system or not. What would you advise them to do. In other words they're seeing their peers moving what's the right steps as far as due diligence. KEVIN: Well the first step is if you see people you respect moving check the time to explore. Don't close your mind. I would then come to one of the luncheons or the classes where we're laying out what this is about. Because when you first hear of it there's so many levels and layers it takes 10 or 15 minutes even get it all into agents. We've met with every one of them walked away saying my mind's exploded. I have to go do research. That's the next step. Now you're going to want to go do your own research. That's great. We just listened to Jason Guessings CEO said "I don't want any agent come aboard and so they're absolutely ready". And this is such a new model and so such a vastly improved model but I really think it needs to go and wrap your head around it. It almost sounds too good to be true. The first time you tell them what's happened. KEVIN: And that's a good point. So for agents that are potentially or even if you're an independent broker or a team lead for a team the more complicated your business right a solo agent can get introduced to EXP. Talk to whoever introduced you to the EXP or as Sean said go get in touch with somebody that you're peers maybe you're at a franchise system you saw somebody you respect completely lets join the EXP you can certainly reach out to them and ask them about it regardless of who introduces you to the EXP. One of the great things Shawn said about the agent centric agent owned culture is anybody in the company from Gene Frederick to myself to Sean to whomever will be happy to help you with your due diligence. Doesn't matter who introduced you to you EXP that so you'll be involved with from a revenue share standpoint right there the ones that made the entree and got you involved. But don't ever confuse the fact that you can't say look hey I want to talk to Sean. I want to talk to Kevin I want to talk to Pat Hays in San Antonio you'll listen to some of these interviews. At the end of every interview is contact information we want you to be able to reach out and get the right information. The market is getting more abuzz with misinformation misdirection from some of the franchise systems. We want you to do it best the best available facts we want you to make the right decision. It's not a perfect fit for everybody. So in order to do that whomever introduced you EXP if you have a medium to highly complicated business let's say you happen to have a team and you're doing a fair amount of business it's mission critical. You do it right. You may want to talk with somebody else. It's a rainmaker. It could be Sherry Elliott and Dallas you could be Brent Gove in the Sacramento or in Northern California. We will get you in touch with the right people. Just ask whomever introduced you to EXP to make an entree to somebody that is a peer of yours or somebody that's taking the path before you. You're an independent broker we have plenty of independent brokers that are available to tell you about how they converted their business and best practices for a powered by EXP solution. Now if you're a franchise expansion team leader and you're in 5 10 markets and we're starting to see a lot of contact from them we want to get you in touch with the Gene Frederick so the world or myself that we can bring the sea level executive team in so we can help you understand because at that level you're like a C level executive yourself running a big business. We expect a lot of them to convert in the next six to 12 months based on market conditions. If you don't take a quick pass. I have somebody who's a Harvard educated guy who has a seven market expansion team. The comment was well he's going to go look online and get some information and I told the CEO of this company he's a smart guy. I said What would you venture capitalist tell you if you said him I'm going to move my multi million dollar business and I'm going to do a little research online. He laughed and said I know I've got to get him in touch with Gene. SEAN: I am a Princeton graduate I'm not surprised the Harvard Graduate doesn't figure it out. You do have to do your your due diligence. This is your career and I've been amazed by the number of people that I've been able to reach out to like you who will take the time and say here's how it works. Here's why it works no matter what level you are. Like you said whether you're a single agent or you're running a 150 transaction huge company there's somebody EXP who's been at your level and who made the move and it would explain why it benefited. KEVIN: And that's something that's not apparent from the outside. Right?. People are thinking well I can look at a video other I'll do a google search and I'll see a video of Gene Frederick they'll look at the link and they show notes for this episode and see the seven minute intro video just know that whether you're an agent a team lead for a team and expansion leader or you're an independent broker. We've already taken plenty of people through the due diligence. We're going to help you understand whether it's a good fit for you then that's ultimately your decision. But as Sean mentioned here's the reality. There are plenty of people to help. It doesn't matter how you came into the EXP. We're going to respect the fact that somebody introduced the opportunity to you and we're going to offer you... because we're all shareholders and that's different than a franchise system that's different than if we're individually owned and operated a location where they're almost islands. So I just know that that's the case so Sean before we let you go any final thoughts before we have you get your contact information out there in case somebody wants to get in touch with you. SEAN: Just this one I've been to a lot of different conventions for a lot of companies including realty brokerages and when they announce an expansion they announce how many new agents they've brought on every one cheers. Think that's great they look like they're a part of the team. I can't wait to go to our convention. And when they announced the latest aging count or the expansion going on you're not just cheering because it's great news you're cheering because it benefited you directly. You're an owner of the company that's getting bigger. That's a change. KEVIN: I agree completely. So if someone wants to get a hold of you Shawn how would they reach you. SEAN: They can reach me by phone call or text. 619 993 9888. Or they can email me Sean@thriveestate.com KEVIN: Perfect Sean thank you so much for coming on the show. SEAN: Absolutely. Kevin It was a pleasure. Thank you.
Former Team Leader Brent Gove Joins eXp Realty from Keller Williams On Today’s episode we have Brent Gove. Brent has been in real estate for about 21 years. He spent 12 years at Remax and 8 years at Keller Williams before transitioning to eXp Realty. Brent’s business is currently in 37 states, and he has over 1,489 brokers and agent associates. In this episode you’ll hear about Brent’s experience with the market crash in California in 2005, how he found himself at eXp, his thoughts on the eXp business model and what’s taking place at eXp Realty. Learn More about eXp Realty - Click here to watch a quick 7 Minute Intro Video. Remember our disclaimer: The materials and content discussed within this podcast are the opinions of Kevin Cottrell and/or the guests interviewed. This information is intended as general information only for listeners of the podcast. Listeners should conduct their own due diligence and research before making any business decisions. This podcast is produced completely independently of eXp Realty and is not endorsed, funded or otherwise supported by eXp Realty directly or indirectly. In this episode Culture and growth at eXp Other companies in comparison with eXp The transition to eXp Want to Learn More about eXp Realty? If you are interested in learning more about eXp, reach out to the person who introduced you to eXp or contact Brent to inquire or ask questions. Contact Brent via text at 916-223-5555 Noteworthy “I saw the benefits; webinars that explained how to acquire stock, how to get leads, the five to 10 Cloud classes a day to train my team and then the revenue sharing component. Those four things, I was like wow this is this is shockingly better than I thought it was going to be.” “I am ten times more excited to be at eXp because of what it does.” SHOW TRANSCRIPTION KEVIN: Welcome to the show Brent. BRENT: Thank you Kevin. KEVIN: Well for people that maybe haven't heard of you before which probably not very many. Can you give a little bit of your background in real estate because I know you and I both were team leaders at Keller Williams but you've done a lot team wise as well. BRENT: Sure yeah. Been in real estate since 1996 or 1997 I can't remember what year it's been about 21 years now and you know start off struggling like everybody else. Then he kind of figured out at the end of your first year in year 2 I did better three I think my fourth year I sold 48 homes. I kind of found my stride. Friend of mine talked me going to Toronto to hear Craig Proctor who at the time was the number one Remax agent in the world up in Toronto which Craig Proctor super conference loved it. Met great people like Jeff Williams and Jay Kinder and Todd Walters and all kinds of wonderful people spent years learning that system and I went from 48 sales a year which I was matched to over 400 sales a year then 169 million in annual volume. And really when you are about leverage and building a team and then of course the market crashed in summer of 05 in California. I remember June I closed on 55 homes in a single month, got paid 55 times in a month which is great. The guy netted about 288.000 net that month so I was a good month financially. But you know we bounced around you know it would go 55 45. You know it might drop five or 10 sales but the next month we closed on 19 Homes we'd never drop like 35 sales and I thought that maybe we were distracted with the Fourth of July and I took the team to Scottsdale go golf and how fine and then the next month 17 and 14. By December we closed nine homes and I had 47 buyers agents working for me and that was our total close volume by December forty nine for forty seven agents. Everybody went bankrupt. Everybody lost their homes their cars. It was brutal. And that happened this summer and fall 2005. So people said oh the market didn't crack until 08, 07 maybe around the country but in California it was 2005. And so from there things got worse. By 2009 it was just I was losing 30 40 50,000 a month for years and by 2009 Keller Williams came knocking on my door. They said hey we'll pay a base of 288 thousand plus bonuses up to half a million come believe Remax be a part of Keller Williams. You can keep running your team to normally do. But that's the only way I would come and I came and it was great experience for me of course Remax said it will be terrible you'll hate Keller Williams and you're making the biggest mistake of their life it didn't matter where I would have gone whether it was Coldwell Banker Century 21 or wherever they would have said it was a terrible idea because I was leaving their team and gone for the opponents right thing. They were wrong though Keller Williams was way better for me not saying they're better than Remax it is better for me personally. They were wrong. Keller was great. I was there for eight years. So 12 years a ReMax eight years. Keller that was my 20 years. Then about a year ago I left Keller and you know I didn't like Keller at that time I loved him. Was never ever ever going to leave Keller Willaims. What could possibly be better than Keller Williams used to run the number one franchise in America. We made more money in 2009 than Austin Texas. Our Roseville Keller Williams is markets and it was number one and profitability for the entire nation. And that was in 2009 and last year I left the company that I loved and I was of the value proposition for eXp was so powerful so amazing I had to leave when I did. Of course Keller Williams like Remax said hey it's a huge mistake you're making a giant mistake don't do it. And bottom line I was leaving their team for the opponents team and they were wrong. My last 16 months here at eXp has been nothing short of miraculous and life changing and unbelievable. So in 45 days I get to retire from real estate. I don't have to list homes anymore. I listed a bunch of homes this week. Presenting three offers now I've sold three to me personally not my team me I'm a very active agent. But in 45 days I get to retire I'll give all my listings to my listing specialist on my buyers and I'll just kind of run the team and keep an eye on it. But it was the eXp that got me to the point where I no longer had to bring in a sixty thousand dollar a month monthly income to keep the lights on you know to pay my home bills and the office bills and the overhead it was 60000 a month. Well because we don't need to govern that money anymore. It's been amazing. And now I'm at eXp and absolutely loving it. KEVIN: You know Brett what's interesting about your comment and I would echo what you said right. I was a team leader at Keller Williams and was there and a big team in St. Louis Missouri and the most common comment is what you just said which is most of us were extremely happy. We were very happy where we were. And it's almost like we were sort of astonished at this value proposition of eXp realty that came by and went Wait a minute. I can't not look at this because I'm a business person. I think you're like decisive like I am right. Driver personalities and I know you dug right into it and you made a decision pretty quick didn't you. BRENT: Ten days but I was fortunate enough when I saw the benefits webinars that explained how to acquire stock, how to get leads the five to 10 Cloud classes a day to train my team and then the revenue sharing component. Those four things I was like wow this is shockingly better than I thought it was going to be and wow I don't have those six ways to acquire stock Keller Williams so I don't have the ownership piece and the revenue share piece and that literally saw a way to earn over a million dollars a year outside which I will do twice that much this year. But outside of real estate sales to make a million dollars a year, I go that is significant. So the benefit I had just dumb luck was the very next week they were doing their annual convention in San Antonio Texas. They're like hey if you're crazy get yourself an airline ticket get out here next week and meet us meet the founder of the company Glenn Sanford. Meet the CEO Jason Guessing. Meet Vicki Bartolomé our president. Come out here and meet us. And I said I'm crazy and I bought three roundtrip airline tickets. Seven hundred each. Because it was last minute was 2100 dollars just for the airfare. Bought tickets to the event it was like 300 400 bucks for each person. I spent like four or five grand to come check out eXp as a Keller Williams agent. I brought my CEO chief operating officer who runs my company and I brought a local independent broker with me. I said look we won't be going to San Antonio if I wasn't excited I won't be paying for all this and do all this I am interested. I'm excited about the opportunity. So I don't want you guys to come here be excited. In fact I want you to come here and be negative. I want you to tear this thing to shreds. If there's a fly in the ointment let's find it. Either this thing passes the mustard test or it doesn't. And we must have interrogated a hundred people over that three days brokers from Colorado or New York or Florida agents that were brand new in Seattle that were brand new in Phoenix. The agents had been doing this for four or five years in different parts of the country six seven eight years and were like really did they do they pay like like they slow pay. They were bounced the commission check. Did they pay revenue share every month. Do they pay late and have they ever bounced the revenue share check and basically it came back roses after three days and so because I was able to see the Webinar, fly to Texas that next week I left Keller Williams. Never thought I'd do it. Loved Keller was a wonderful company. They just don't offer five to 10 training classes a day. They don't have the lead component. We're able to turn on people's phones and deliver 100 to 300 leads a month to their phones that will change an agent's life. The training and the leads are then finally six ways to acquire stock. I have about half a million. After 16 months after past 20 years zero I like my program better. I then find the revenue share to a company that would share revenue because we're cloud based they could do it. Are these other companies cannot copy the model because they are going to pay for these behemoth offices and so the whole cloud based things huge so I think that was a long answer to a short question. KEVIN: You touched on some of the stuff in the answer that I was going to drill down on. So for anybody listening to this you know Brent had this rocket ship ride and if anything it's accelerating even further now. So Brent you join and you were a team leader and granted the timing worked out and it was 10 days but you were a team leader at Keller Willaims before as I'm going to ask you a question that I know the answer to because I was a team leader just like Gene Frederick was for a long time for a guy like Brent Gove and his team to move in 10 days when you were a team leader in a previous franchise system. Did that ever happen? BRENT: No no no it take months sometimes a year or more to get people to move. I know Keller Williams started talking to me in 2001 and it was only in 2009 in the bottom of the worst market correction since the Great Depression were they able to get me to move. It took them nine years to get me to move and eXp the value proposition was so great. Dave and Keller flew me to Texas took me out to steak dinners brought me all kinds of events and the last two years there was a hard push from 08 and through 09 or 07 and 08. So whereas eXp I paid for all my own stuff. I mean eXp didn't even buy me a cup of coffee. The value proposition was so powerful. I was gone in ten days so that we see that all the time. It's irresistible. KEVIN: Well for somebody on the outside that is now because we'll talk about what's going on 16 months later is what's going on now has to be shaking their heads right. If they're in a large franchise system whether they're in one of the big massive market centers or they're in a established Remax operation or even an independent they look around their marketplace and they're seeing massive movement. I mean I talked to somebody the day before yesterday and the comment was we're in San Diego and I've never seen anything like it. Right. Well you know Daniel beer comes over and then they go from like 10 or 15 agents at eXp in that market to 100 in less than a month. So yeah the comic you get on a rare occasion I know you have talked about how many states you have agents in a revenue share now but the comment that sometimes in I'm gonna make this statement people will say well in my market there aren't very many agents. Maybe it won't work here. What do you say to that. BRENT: My gosh escape your market. Here's a cool way I used to live in Chico California college town. And when I finally moved down to Sacramento a suburb of Rosewell my income went from you know I was making I don't know a 150 thousand a year 180 to over 400 thousand a year because I moved to a bigger market. But if you don't want to leave your town which many of you don't. Here's a way by telling people about the eXp you're able to escape your town. I have an agent who joined us up in Anchorage she has 60 listings now there are 60 eXp listings overnight in Anchorage. Talk about an expansion model. Honolulu Hawaii we have that number one Keller Williams luxury agent one of them doing one to five million. She moved the eXp. Now I get paid on wholesales in Honolulu where in 37 states they answer your question. But my first year I thought I think it's a work I got admit I like well it's either going to work or not I'll get me eXp six months. If it doesn't work I'll go back to Keller Williams, they'll take me back. Six months later it had worked beyond my wildest dream. Some people this is your stay at your company. I could have done that. I had the regional owners begged me to stay offer me ownership offer me. What do we have to do to get you to stay. Nothing. I know what Keller Willaims is it's great but he can't offer me this opportunity. I'm going to go try it but I'll be honest with you. Kevin I go six months it's either good work or it's not. And my first year I earned almost half a million in stock over 400000 and I got paid liquid cash over 500000 in rev share. When you combine the two that's 900000 dollars outside of my team I came to the eXp with 18 agents at the end of the year I had 18 agents. They were 100 percent retention. It was funky or weird. Some of them would quit. It's an important distinction to note. We had a 100 percent retention zero attrition because they're all acquiring stock. They're all acquiring revenue share they're getting more leads and they're getting training. They love to have 100 percent there year later. Plus we added five more buyers agents wasn't even trying to do that. So now 23 unbelievable by the way. We just had a star agent in the San Francisco Bay Area Los Gatos just leave Keller Williams. This year he'll do a quarter of a billion in sales. His name is Brett Jennings. Gary Kilar heard about it last week. He said called him up personally said get on a plane come see me in Austin. I've arranged for you to fly out tonight. First class ticket on a red eye. You'll get here tomorrow. Gary spent six hours with Brett and said hey here's what we're doing. It's amazing. Brett Jennings came back and he thought long and hard and that was this weekend and Sunday night he packed up his office with his agents and his staff. There were close to 20 there in Los Gatos this morning in Los Gatos the Silicon Valley the Bay Area. They come in their star who's doing a quarter of a billion. He the number one Keller Williams aged Northern California Hawaii. His office was empty and he Just in ya know some trash cans and desks and tables left in office. They were free. Talk about a mic drop where to go. People already call me he's at eXp. And if you listen this you need to investigate eXp, it's real it's the fastest growing most dynamic real estate company in North America. All the stars are coming. It is exploding I heard what people in the queue. We have ten thousand agents now. When I was here 16 months ago there were fourteen hundred and now we're at 10000. That's not doubling or tripling or quadrupling it's exploding it's it's unbelievable what's happening and we will be at 30 and 40000 agents in the next year or two and then we're going to 80 to 100000. I'll tell you this we're growing internationally across Canada we're going to open up Mexico we're going to open up the Philippines South America, Brazil, Chile Argentina. I'm going to get paid on home sales in South America and South Korea, Japan and China. It's going to happen Coldwell bankers worldwide Remax is world worldwide but we will grow faster and here's why there are 206 countries in the world. There are 25 million real estate agents and brokers and I'm telling ya eXp is going to have a couple million of those 25 million and I plan on having hundreds of thousands a part of my organization. I'm working hard for people. Kevin you're working hard for people. Gene Frederick is working hard. Rob Flixscott and Tracy Lewis there are so many amazing people at this company and it's just exciting to see what's happening. You know I was thrilled to be Kelly Holmes. I am ten times more excited at be eXp because of what it does. People have so much hope they like can't sleep. So excited I can't sleep. And it reminds me of Keller Williams back in the late 90s and they invented something that was better company exploded. They're a great company their a fine company. They just don't have six different stock awards. They don't have the revenue sharing components. They don't have five to 10 classes a day at least at this point that we have access to that eXp does in the cloud and they don't turn on agents phones and have the ability to deliver 100 to 200 300 leads a month through conversion and we're coming up with Cavey care. I think is it Cavey Care, am I saying it right. KEVIN: Cavey Core. BRENT: Victor Core which is like conversion times 10 with the tools it is unbelievable. Buckle up the world is about to see the most dynamic real estate company ever to hit planet earth like a Netflix like a Google like an Amazon. This is a game changer and it's for real. KEVIN: Well some of the stuff you touched on a lot of mega agents and mega mega agents and expansion agents are going to listen to this and I want to make something very clear that you touched on which is you're going to get called to Austin or wherever headquarters is for the franchise system you're in and they're going to offer you the world but don't get confused by waved caps right. If you look at it let's say they wave 200 300000 dollars where the caps for him how much equity you have. Right. BRENT: By the way Brett Jennings has offered four hundred thousand dollars by compass and turned it down. KEVIN: Sure. So you look at the value proposition but what I'm dealing about in the franchise system I want people to hear this pretty clearly they're going to attempt to lure you back with free caps so even if you've got in this case this mega mega team. A quarter of a million three or four hundred thousand dollars in waved caps which is why you're going to go to that's their only lever. Don't get confused with the fact that you are passing equity because here's what they're trying to do. They're looking to do a Silicon Valley play which is if you can keep a key executive off of the playing field so they can't earn equity and they can't earn incentive compensation until the opportunity is gone. They no longer have the incentive to leave. And so if they could keep them out of play for a few years by giving them a free cap he doesn't get to own the equity or the revenue share. So if you're hearing this and you're thinking about doing something we'll talk about due diligence steps here in a minute. Don't ever get confused about why they're doing this. They want you to get to the point where you don't have an opportunity for revenue share you have the opportunity for equity. Brent you said after 16 months what does your equity look like right now. BRENT: Close to half a million in stock. And this year my CO sitting over here will make close to 2 million liquid cash my second year. And if the stock does well who knows I won't go on record right. Definitely have my thoughts on how that stock's going to go. I can tell you this it was three dollars a share when I got in 16 months ago and it's trading at over 12 dollars a share today. You know what I'll trade at tomorrow but that's kind of interesting. What was it before that. Years and years ago it was 13 cents a share and 20 cents a share than a dollar of the two and then three and six then nine now it's 12. Who knows what the future will be maybe to go the other way. But I had 20 years of zero I do want to say this Kevin. When you go back to your broker and go well what do you think this is what I think your broker. And it doesn't matter where you go if it's eXp and you're a ReMax agent you're thinking about going to Coldwell Banker or Coldwell Banker agent and you're thinking about going to Better Homes or you're a better homes agent and you're thinking about going to Keller Williams. It doesn't matter where you're going your brokers even go that's so awesome. You're leaving our company Century 21 and you're going to Better Homes wow we're so excited. That's a that's a great idea. That is not going to happen. They get really negative. Every reason reasonable world why you shouldn't be at Remax why you shouldn't. Go to Coldwell Banker. Why Keller Williams is a huge mistake and Remax did it with me when I went to Keller. They were wrong. Keller was better and then Keller didn't tell me about eXp, passionately told me this was a bad idea and about a listen to him. I wouldn't be making a few million dollars this year. And I wouldn't have all the stock in it so great to see people's lives change. I have many people many many many many people making 5 15 20 25 30 thousand a month Revenue shares. Some of them just a lousy thousand 2000 dollars a month. I know my second month I earned five thousand dollars. Revenue sharing my first month 9800 by my third month I was making ten thousand a month. And by fifth month I was making 25000 a month revenue share outside of sales every single month compared to profit sharing which after eight years I was averaging four hundred a month. And because our office was no longer as profitable and if you're not as crud I'm making 2000 a month congratulations your office is running very profitable right now. I was no longer running the office wasn't in charge of the bottom line and mine had dropped to 400. But to be able a little point where I was knocking down 25000 a month every month like clockwork. Not a year but a month and then go to the point where I was making 40 50 60 and 70 thousand a month every month, not year. You're special. Come on. I mean that you know you do the work you earn the money. I went enroll 24 people in three and a half months. And it just went berserk. Go do that. Just go give it a shot. Learn more about the company but just remember your brokers not going yay that's so cool eXp such a great idea. They will offer you ownership. They will offer you money they will offer you free offices, they will give you 100 percent cap. They will do anything they can they'll offer to fly you to Austin first class and spend six hours with you. If you're a big enough player which is exactly what Gary Keller did personally with Brett Jennings and you know what after that Bret goes wow it's impressive thank you. He's grateful to Keller. But the value proposition is so powerful he had to leave the company he loved like me for eXp and he is excited. And today's his first day eXp there's a big huge empty office at Los Gatos Keller Williams homes and they're in shock that their star left their star agents are leaving the top brokerages nationwide. I'll just tell you this Kevin in Sacramento we pulled the numbers Coldwell banker is losing agents not gaining not for the month but for the year they're down Century 21 went down Remax down Keller Willaims down that number one company losing agents is Keller Williams actually followed by Coldwell bankers, Century 21 to Remax. Now the companies that are growing third place Homes Smarts second place Realty One first place eXp. 16 months ago not a sale today 10 percent market share. One of California's largest metropolitan cities was scratched the 10 percent market share. This year we're probably at a 20 25 percent market share eXp is coming on like a hurricane. Check it out. Check it out. Check it out. KEVIN: You know what's interesting about this Brett. You got the red eye flights into Austin right. We're just talking about one example right Remax all the same thing. But the next card to be played. Mark my word is going to be pressure on the market center owners in the OPs to drop their caps to try and give people incentives to stay. They don't get it. They don't understand the market's been disrupted and all that's going to do and I'm tying this down to your point when you see that if you're at the franchise system where they just cut the caps in half. Brett what would that have done to your Roseville market center if somebody came to you and said you going half what happens to profitability. BRENT: Profitability was already totally hurt. So yeah I mean the way it decimates slopes are going to push back and they're in a tough situation they've got these commercial leases signed on these giant behemoth options that hold two or three hundred agents in some cases 4 5 6 hundred agents they've got 5 10 year commercial leases they're in big trouble. They'll say stuff like Well is it a sustainable model why don't you tell me when the market corrected last time at two thousand five six seven whatever you want to say till 2011 or 12. Who was hurting and people of big offices were hurting. eXp is cloud based. Now we have a joint venture with Regis, we have thousands of locations there are 12 Regis corporate suites in Sacramento. Some are amazing, some aren't as nice. Plus I have my own private office many agents have offices. So if you have an office keep an office just move out of where you are into some business park or corporate suite you'll be surrounded by people who aren't real estate agents or brokers. I mean it's so ironic well I like only the office really are surrounded by agents and brokers at my beautiful office I'm surrounded by a hundred forty professionals. You don't have real say license but they buy and sell real estate. List sell buildings. I mean it's been unbelievable for business, get out of your office and get out into a community and the best way to do that is be cloud based but if you like an office which I do. I have my own office you can afford and you get a pretty three hundred a month to work with your stockbroker your Allstate agent your nations wide insurance agent farmers financial planner a lot of these people have offices they're not even using. Hey can I move for free and you can still have an office environment but eXp doesn't have it. So when times get tough the model that's not sustainable or the old way of doing things just ask Blockbuster. Ask Toys R Us asked Yellow Cab ask the hotel industry that's given their fanny handed to them by air BnB I mean the cloud based technology driven is where it's at. We got here 9 years ago. We've got a nine year headstart they'll be competitors that come in but baby were publicly traded we're we're growing and it's going to be nothing short of amazing so I'm just stoked if can't tell. KEVIN: Oh I'm right there with you. So if somebody is listening to this Let's say I'm a mega mega agent or a capper and I want to do the right thing I need to dive in and do some due diligence. What are the two or three things you think they should do to get the right answer. Before you answer one of the things I'm going let's say this as a caveat and we've done this on every interview is it doesn't matter who introduced you the eXp you'll hear Brent give his contact information at the end. We don't care how you got to introduce the eXp. Everybody is here to get you the right answers if you need to talk to Brett Gene or me or pat Hayes or whomever. We're all here to help regardless of how you were introduced to eXp. So Brent would a two or three things be that you recommend. BRENT: Well number one whoever turned you on eXp they got to this point you owe them a big old fat thank you a hug and kiss on the lips whatever you want but you need to stick with that person that person in my opinion should be your sponsor your rolling sponsor at eXp. The kind of thing where you shop around. If it wasn't for them he would even know about the opportunity. So a) My sponsor was a single mom out of Texas I've never met but I've changed her life. She's I don't know. Last I heard she's making 40000 a month revenue share. That will change a single moms life. And you know she helped me for the first two or three months and we were off running. You know so a we were you always been that should be your sponsor so if you reach out to Pat Hayes or Scott Tracy Lewis or myself or Gene Frederick and you already talking to someone we will love to talk to you and tell you about this amazing company. But whoever turned you on to the company in my opinion that should be your enrolling sponsor. End of story. End of story. I've had nine people ask me to sign them up I'm like nope. Because you've thought about this through somebody else whoever it is you need to go back to them. They need to sponsor you. I don't know that well I didn't know my sponsor either. I met her one time for 60 seconds. Thank God she called me and turned me on to this. I knew I would be interested in the eXp. I mean my gosh what could possibly be better than Keller Williams. In my mind I'll be like your company. I didn't like mine. I loved mine and for this company to do what it did for me. I'm so grateful to her so it doesn't matter whether you know your sponsor but you should call people ask questions get going and if someone tries to recruit you away from ever turned you on to this I highly recommend you not enroll with them because they have no integrity and it's just it turns my stomach. So someone is trying to convince you to go with them over somebody else. They have a massive lack of integrity. MAJOR red flag. I highly recommend you not go with them and you go with the person who turns you on eXp in the first place. Yet owe it to them. So that's my two cents I got off topic on that one a little bit but I just want to cover it. KEVIN: I'm glad you did because for the vast vast majority this is a culture that is not visible to the outside world eXp. I mean we both came from a franchise system that talks about culture and win win and values. I can tell you haven't been and experienced it in that franchise system and here. The culture is amazing from a standpoint of people helping you know it and it doesn't matter if it's me or Jean or you Brent it doesn't matter how you came into the system were here all the way down to the agent in Anchorage you mentioned. Doesn't matter who gets tapped on the shoulder to help the culture of win inside of you eXp is amazing. So before I let you drop off Brent any final thoughts and then I want to get your contact information in case somebody wants to reach out to you. BRENT: You bet. I do want to say one thing about the culture of this company. It is amazing. It's always great people from all the greatest companies coming together. The culture is unreal. Well I'm doing four hundred million a year. I got you know sixty five buyer's agents. Why would I want to do this. Because 16 months ago I only had 18 and I was severed to the market conditions are Sacramento California now. My business is up and up throughout 37 states. I'm diversified and I now have as of today 1489 brokers and agent associates of the eXp that I get to share revenue on and they are thrilled to be here. So my team went from 18 to 14 189 across 37 states and throughout Canada. So I highly recommend you look at this because where we you 16 months ago. I don't know 40 50 agents what you got now 60 maybe that a hundred and look at how powerful this model it's not me it's the value proposition. How powerful eXp is. I hope you come to our next big annual conference which is in New Orleans in October. By the time this goes out we'll have past our shareholders meeting in Las Vegas which happens April 5th and 6th it's probably by the time this hits the open market that a year passed. But we do two events here the next on 22nd 23rd 24th double check the dates in October in New Orleans. It's going to be an absolute hottest ticket in real estate in North America the fastest growing most dynamic real estate company that is changing people's lives like I've never seen eXp come out there. Check us out. Bring people. I did. And I got an unfair advantage and my business exploded because of what I learned from that event. So that's all I've got to say. KEVIN: Fantastic Brent. Somebody who is listening to this. They want to get a hold of you, what's the best contact information for you. BRENT: I'd be happy to answer your questions and send it right back to them and they should be your sponsor. End of story. 916-223-5555 is my cell phone 916-223-5555. Text me not going to give out my email address because I gave up reading email last summer. My staff reads my email. I don't do email. Course I do email but my staff will be the talking to my staff not me. You want to talk to me. Text me. That's how I prefer to communicate. That's what happens when you're 59 and you're a baller. You get to call the shot. So the number is 916 223 5555. Text me your question if you want to talk just text me the words Call me and tell me who you are and where you're from and I'll reach out to you when I get a break. Probably the same day usually within an hour or two just depends on what I've got going so I hope this was helpful Kevin. KEVIN: Absolutely. Thank you for coming on the show. BRENT: All right take care. Bye everybody.
Listen to this AWESOME podcast episode with MEGA Producer, Brent Gove! Get inside tips on how he's built his successful real estate business closing up to 400+ homes in a single year. Brent's approach to Team Building is unique and effective, listen in as he shares his 3 ground rules to his hiring process that has yielded unbelievable results throughout his 20 year career. Honestly, this whole episode is PACKED full of success nuggets and I'm so grateful Brent took time to stop by. Grab a notepad...you'll want to take notes, trust me!
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