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Kevin McGary Is an African-American leader who is concerned about the plight of black America today. He’s concerned about the injustices he sees. But he’s also concerned about the agenda of Black Lives Matter. I recently interviewed Kevin For this weeks a TGIF@Work podcast about what he sees in the Black Lives Matter movement and why he started an organization called Every Black Life Matters. In this interview you’re going to learn: The real motivation behind Black Lives Matter Why Black Lives Matter is not helping the plight of black America Why corporations are embracing Black Lives Matter How to speak to others about the Black Lives Matter movement Why Black Lives Matter embraces violence to cause change

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.  

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.