eXp is just one big pyramid scheme! At best, it’s an MLM and the agents aren’t selling property. All they’re doing is recruiting agents!
That’s the conversation happening right now in brokerages across the country. They’re either trying to scare their agents away from a model they know is better for the agents, or they just don’t understand the model. In most cases, it’s the later (or they’d be with eXp too!) So what is all this MLM talk all about? Why would they even say that? They’re talking about eXp Revenue Share, or as we call it, Rev Share. Rev Share is the opportunity that eXp has gifted us that has the ability to create true financial freedom, time freedom, and location freedom. It puts the power of being a broker-owner in the hands of the agents, and does so on an exponential level, allowing agents to create a residual income stream that can change their life and the way they run their entire business. I know it has for me.
Why build residual income?
Let’s begin with why someone opens their own brokerage. The primary reason is so they can step out of production, recruit a bunch of agents, and then take a piece of each of their deals to create wealth and freedom. In the standard model, the broker (or a paid recruiter) recruits all the agents and gets all the rewards from their production. If an agent at one of these firms helps sign up a new agent they don’t see a dime once that agent is in production. At eXp, every single agent has the opportunity to reap those same rewards as a broker-owner through agent attraction. When an agent joins eXp they select a “sponsor”. And that agent has a sponsor, and so does that agent, and so on. When an agent completes a transaction at eXp, up until the time they cap, eXp will pay that sponsoring agent a small referral fee on that transaction out of the company dollar. They may also send a small referral fee to the sponsoring agent’s sponsor, and their sponsor, up until you’ve reached seven sponsors up from the agent who closed the deal. If you help bring one capping agent into the company you can earn up to $2800 in residual income paid out of the company’s split. Not bad, right? Three capping agents is $8400 – equivalent to adding a full transaction commission in most many markets. When the agents you bring into the company start bringing other agents into the company, that’s when the numbers can really start adding up. Watch the video below for a full breakdown of our commission splits and how all the math works. It’s really simple once you see it broken down.
The Opportunity of a Lifetime
As you can see in the video, the opportunity is truly massive. As of this post (Feb 2022), eXp has 73,000 agents, with a goal of reaching 500,000 agents in the next 5 years and 1,000,000 agents in 100 countries in the next 9. The ability to make this part of your business plan has never been greater. And you have to decide if this is something you want to pursue as an agent at eXp. For some, agent attraction happens naturally. Maybe you’re among the highest producers in your area and agents will just call you based on your reputation, or maybe you’re involved socially with agents all the time, so the conversations about eXp happen at any given time. But for many agents, you’ll have to put concerted effort into agent attraction if you want it to be a large part of your business plan. It doesn’t happen overnight.
Asking agents to partner with you at eXp can be difficult, but it can also change your life, and it’s worth the uncomfortable conversations in order to provide you with the freedom you desire. Really, all you’re doing is sharing the gift of eXp with other agents. And they may not care about the agent attraction piece at first. Maybe they’ll focus on the stock awards or on the 50-80 hours of live training every week. You won’t know until you share it with them. For many, agent attraction is going to provide supplemental income that helps them reach their financial goals. For others, it means they can produce a little less and get some time back to spend with their family or travel. And for a select few, it’s an opportunity to step completely out of production. We even see broker-owners roll their entire brokerage into eXp because they’re tired of having to run the brokerage and would rather let eXp do that, and they can focus their time on being there for their agents. And that’s another important aspect of agent attraction. If you decide to participate in agent attraction it’s very important to be able to provide value to those you attract. I’m extremely fortunate that that’s built in with the agents I’ve partnered with. Our network provides daily training on things like social media, buyer lead conversion, building your business the proper way, and seller listing mastery, all with some of the top producers and coaches in the country. I know that when people partner with me, they’ll be given every opportunity to continue to grow and succeed.
So next time someone says to you that eXp is just a pyramid scheme, you can let them know it’s the opportunity of a lifetime. There is no better company on the planet to be an agent, grow your sales business, and also build a residual cash flow that can provide you with an income stream in retirement, and truly create the freedom in your life you’ve been working so hard for.