Why I Left eXp for REAL Broker | Ep. 325 - Massive Agent Podcast
ฝัง
- เผยแพร่เมื่อ 31 พ.ค. 2024
- ➡️ Schedule a 1-on-1 REAL Broker Strategy Session with me here: www.partnerwithdustin.com/
💣 After nearly 6 years at eXp Realty, I switched to REAL Broker.
In this episode of the Massive Agent Podcast, I break down my reasons for the decision. I lay out, in detail, why I believe Real Broker is so dramatically better and why it was worth potentially leaving 340+ agents and $1,000's in unvested stock options behind at eXp.
Summary
Dustin Brohm announces his departure from eXp Realty and explains his reasons for joining Real Broker. He discusses the challenges he faced in making this decision and the impact it will have on his business and agents. Dustin highlights the issues he experienced at eXp Realty, including a bloated company structure and a declining reputation. He contrasts this with the culture and collaboration at Real Broker, emphasizing the importance of a level playing field and access to resources for all agents. Dustin also praises the superior technology and growth opportunities at Real Broker, including a more lucrative revenue share model.
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✅ If you want to know more about Real Broker and/or my personal reasons for leaving eXp, click here: www.partnerwithdustin.com/
✅ Ready to join Real Broker?
Sign up here bolt.therealbrokerage.com/reg... and if you list me, Dustin Brohm, as your sponsor when you sign up, we'll literally become business partners and I'll have skin in the game to help you grow and succeed in growing your real estate business!
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Takeaways
➡️ Making a bold move in your career can lead to new opportunities and growth.
➡️ Challenging your beliefs and reevaluating your options can help you make informed decisions.
➡️ A company's culture and collaboration can greatly impact your experience as an agent.
➡️ Access to superior technology and growth opportunities can contribute to your success.
➡️ Consider the revenue share model and the potential for financial growth when choosing a brokerage.
📕 CHAPTERS:
00:00 Intro
02:04 Reasons for Leaving eXp Realty
05:16 Massive Agent Referral Network
09:06 Challenging Beliefs and Reevaluating Options
13:59 Issues with eXp Realty
21:23 Culture and Collaboration at RealBroker
25:26 Technology at RealBroker
28:13 Growth Opportunity at RealBroker
30:07 Revenue Share at RealBroker
32:37 Superior Technology at RealBroker
36:18 Making the Right Decision
39:29 Seeking Growth and Taking Bold Moves
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Dustin Brohm is host of one of the most popular podcasts in real estate, the Massive Agent Podcast, and a contributor to BAM. His podcast was an Inman Innovator of the Year finalist. Dustin is a keynote speaker on all things real estate marketing, social media, podcasting, and lead generation and has spoken on stage at Gary Vaynerchuk’s Agent2021, Inman Connect, Sales Mastery, HousingWire, State Realtor Association annual conventions, and more. He’s a Realtor in Salt Lake City, UT with a organization of 300+ agents across 36 states and 3 countries.
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Connect with Dustin:
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#massiveagentpodcast #realestateagenttips #realestatecoach
The “trying to build a business with one hand tied behind my back” is so true man. There’s nothing worse than being guilty by association. There would be other agents in transactions I would meet that I would think would be a good fit for the exp model and the moment I brought up EXP they threw tomatoes at the idea. And many of the exp trainings which are led by “recruiters that don’t produce” rebuttal to my concerns about the stigma is to be passive aggressive and simply say those people just aren’t “open” yet. And to move on. Incredibly dismissive and I got tired of it.
It became too much like the boiler room, and less like it truly was a good idea for the average to capping agent to move there. REAL is different in a positive way with all the things I loved about exp and proactive in creating strong guardrails to the culture so they never take on the negative aspects of exp.
Thank you for keeping it REAL and a massive welcome to your broadie!
thanks for watching brother 👊🏼
@@MassiveAgent Hello, I was going to your TH-cam channel and found out that you have excellent content, but your TH-cam videos aren't SEO-optimized. Very poor SEO score (0 out of 100), No SEO-friendly title, description, or tags, no sharing on the social media platform. So, I decided to help you by doing your video SEO and keyword research, finding ranking tags for your video, SEO-optimised description, & tags.
Just joined REAL yesterday… I didn’t have to navigate the tough things you did as I’m a relatively new agent. That’s a HUGE decision… REAL is just too dope.
Awesome brother, welcome
Im new too, not even licensed quite yet, this decision has been a hard one. How have you liked it so far? Are you getting the help you need with all the stuff we don't get in our courses?
Dustin, I am an upcoming Agent. I am looking for a Brokerage for a newbie. How is REAL for an onboarding and new agent going to fare with a virtual company? Ive got KW, eXp & REAL as my 3 options. I know you are bias now to REAL, but that is ok, I just need to know your opinion for a NEW agent. Also, I live in a small rural area of California and there are not agents here that are using these Brokerages. We seem to only have the individual boutique ones. What are your thoughts Dustin, I really want to feel I am a part of a good place and will get help with all the new stuff that I know I will need help with at first. Thank you so much ~ Christina
As i listened you've answered my question for the most part, but would like to still be convinced a little more...LOL
Hey Christina! To be honest, I don't know if Real would be best for you to start out at. It probably is, but I'd really need to talk to you more and ask some deeper questions to help you figure that out. Let's talk soon and we can dive into it together. Please use this to schedule a time to talk :) calendly.com/massiveagent/partner-with-real-broker
Both have great vision, amazing staff, awesome agents, support, literally everything. Both are getting better what feels like monthly and only growing. I just heard something that is changing at eXp that is going to blow everyone out of water. But it doesn’t matter. Remax will eventually be a cloud based brokerage and other models will pop up. I am eXp for life and that's such a beautiful thing to say because I can now just help people. Do your due diligence, pick one that works best for you and go all in! Markets go up and down, stocks go up and down, business will compete. Grind it out, stay focused and you’ll crush it in this industry!
No doubt
What is changing? "I just heard something that is changing at eXp that is going to blow everyone out of water."
@@2ReferralClosingsPerMonth many brokerages make claims like this, and have for years. 🤷🏻♂
Current eXp agent but have recently looked at Real & Epique..
Always healthy to understand the different models so you can put yourself in the best position to win 🙌🏼
Smart move.
Thanks Marc. I sure think so
I was at compass as well, I agree the tech is better at Real
Seems to be the consensus :)
I joined eXp because of you. That’s the direction that real estate is going. Now that I’ve been at ГЕA⅃ for a month, the culture is totally different. I’m excited about the change, and I appreciate your leadership and having an open mind. It’s the spark that I needed, and I’m so excited you’re finally here with us again.
my man 👊🏼 thank you brother. I'm stoked we can continue the journey together at Real
My experience was the same. Also ex EXP myself.
Crazy brother. And as I'm learning, many others echo the same frustrations
Love this Dustin and so happy for you!! It’s so fun seeing so many people I like and respect joining up over at Real!
Thanks man!
Great episod my friend. Feels good to be reunited in one place, one family, one real
yeah buddy! Stoked to be back together
Hi Dustin I am an agent just left NAR but not opposed to rejoin and from NY upstate but I live in Charleston I would be interested in this.
Hey thanks for watching :) Send me a message on Instagram or Facebook and I’d be happy to talk through it with you
Enjoyed the talk Dustin. Still undecided if it's simply ExP losing steam and a bunch of people jumping ship or if it's shiny and new (I understand it is 10 years old) and just doesn't have that recruiting stigma around it YET. I wonder if some agents have moved over because they feel like it's an easier sell now (almost kind of like a veil) to get agents to come aboard. Regardless, followed you for a long time here and on instagram and confident that you wouldn't make these changes if you honestly didn't feel like they were the rights ones 💯💯 go do big incredible things sir.
Very fair points Travis. Concerns, or thoughts I had myself. Time will tell, but I'm confident that Real will prevent many of the same problems. They've had the luxury of watching the mistakes of others. I appreciate you taking the time to watch and leave a thoughtful comment
Great Talk! As a former EXP agent, I found it hard to navigate and find proper guidance unless it was from your upline. In my case, my upline was totally unresponsive. At Real I have found everything I need by logging into Re-zen which will connect you to the workplace if that's where the info you're looking for is located. I have all my transactions available on my phone as well as my up-to-date stats.
My broker is amazingly responsive and if he doesn't get right back to me someone else on the team does.
I'm not a huge producer yet so maybe I have a different view. I find it much easier to conduct business here at Real than I ever did at EXP. Sometimes the shiny new thing is better! I think that is the case at Real.
Unfortunately I'm hearing too many stories like yours about the unresponsive upline. What I love about real is that just becomes irrelevant. Your upline sucks? Ok, you still have everyone else :)
This is such a good episode Dustin!
Thank you Lindsey
Bottom line - Real pays 12% on first three levels and you probably had levels 5,6 and 7 locked at EXP. However, paying out 80% of company dollar to Revenue Share is a recipe for failure. Company Dollar for Real is 15% of GCI and Real’s model pays 12% to Revenue Share on first three levels - the company lost $40 Million in 2023 and hasn’t made a profit in 10 years.
I'm not concerned, at all, about Real's financial viability and longevity. Earnings per share is NOT something that matters much to agents. Not irrelevant, but way down the list. Because you know as well as I do that the EPS and Net Income #'s have other factors, like stock based compensation. Mike Delprete did a great breakdown of profitability among publicly traded brokerages, and eXp and Real both shine when you look at Net Income before stock based compensation, which is not a true expense (doesn't take money out of the checking account). Look up that report, it's very enlightening.
I have to correct you on one ting though, Real pays out 60% of company dollar to revenue share, not 80%.
In 2022 Real had $381M in Revenue and posted an operating loss of $20M.. In 2023 they grew Revenue by a whopping 80% to $689M yet LOST even more money posting a loss of $26M... The numbers are the numbers..and combined with the fact that the company is majority owned by investors, not the agents, I can guarantee that the model will have to change..
What is REAL BROKERAGE?😮
go.joinreal.com/
Dustin, thanks for explaining the REAL model. For clarity, if there are no "silos" (or incentives to join one organization or another), then HOW are recruits selecting their sponsors?
Great question actually. You're choosing who you want to be connected to. Sponsors are still chosen based on who you want your business partners to be; those who have a vested financial interest in seeing you grow and succeed.
eXp got the "recruit" stigma because they were the first ones to do it, completely changing the game... This will wear off because now all the other cloud models are recruiting as well. REAL, LPT and Epique.... It 's going to wind up like the seagulls in Toy Story.. Mine, Mine, Mine, Mine
Time will tell, but I believe it's far less likely to happen at Real because of the policies and culture they have in place to prevent it
40 minutes of no important information shared. 👎
LOL
Dustin, can you clarify? Do you actively sell homes? Or just recruit? Saw you on another video (Next-Gen Agents). You made it sound like you are not selling now. Thought REAL only pays Rev Share to active selling agents. Has that changed?
I do not personally service clients myself still, no. I have a referral & revenue share based team model instead. Since I still do some referrals, I'll meet the production requirement to participate in revenue share. The bar is pretty low actually. You just need to bring in $3000+ in commission every 6 months to meet it. Thats one referral.