There are No Brokers at eXp!?!?

One if the most common misconceptions about eXp Realty is that there are no brokers. Of course we do! I think the confusion arises from the fact that we don’t have traditional brick and mortar offices. Agents are used to the idea that with every office comes a broker. In many cases that broker is also the owner, or started that franchise office. In other offices, Keller Williams, for example, there’s a broker attached to each market center. If you’re really used to this concept (and who isn’t?) then it can be hard to wrap your head around the idea that as a cloud based company, our brokers aren’t attached to a physical location. Instead, every state has a team of brokers, the number of which is determined by the number of eXp agents in the state, who are dedicated to helping every agent in the state. It’s a mindset shift away from looking at your brokerage as one office building, and towards being part of a world-wide organization, and your state being it’s own network within the company.

The Traditional Broker’s Role

The reason the state broker team works at eXp is because they’re not expected to to wear too many hats. They fill a specific role, and aren’t asked to deviate from that all too often. At a traditional brokerage, especially one with a broker owner, you may find the broker is being pulled in a hundred different directions all at once. They may be in charge of training new agents, running weekly office meetings, doing all the office contract compliance, coordinating office events, answering all the agent transaction questions, implementing new tech, running office financials, doing office level marketing, and so much more! To say a traditional broker needs to be a jack of all trades is an understatement!

The eXp Realty Broker Role

At eXp the broker team doesn’t have to fill all those roles. Many are filled by eXp staff or the other agents themselves. For example, all new agents are assigned a Certified Mentor, so the brokers only function in new agent training is to run a weekly rookie round table in eXp World. The rest of the training is handled by the mentor. eXp Realty staff members handle contract compliance in Skyslope. Whenever you upload transaction paperwork to Skyslope an eXp compliance officer reviews it all to make sure you haven’t made any mistakes. Occasionally the brokers will throw a local event in order to get an opportunity to get face to face with agents, but the rest of our local events are agent run. This all means that the brokers can spend almost all their time helping agents with transaction questions, and disseminating important information that we all need to know. They also support higher level compliance for agents functioning as LLCs or S-Corps, and anyone looking to open their own brick and mortar location.

All this means that the broker at eXp Realty is focused on the agents. They don’t have to wear a bunch of different hats, and be experts in all of them. It also means that a small team can serve hundreds, if not thousands of agents all at once. It takes a little getting used to, because so many agents are used to being able to walk down the hall and knock on their broker’s door, but as more and more agents move away from working in an office, the more obsolete an in-office broker becomes. When I joined eXp I wasn’t looking for a broker to help with my transactions any more. However, I understand agents who are used to having a broker to fill this role. So good news! eXp Brokers are there for you whenever you need them. Fortunately, we’ve reached the stage, from a tech standpoint, where we have multiple options to communicate with our brokers. If you want the face to face feeling, then eXp World is your solution. The brokers hold office hours in eXp World, so you can walk your avatar right over and speak with them “face to face”. You can also reach them via Workplace chat, and call them directly through Workplace chat as well. Of course there’s always good old fashioned email. Whatever works best for you, there’s always a great broker ready to assist with whatever you need at eXp.