I must say this is probably one of the best comparison videos I have seen. I think I have watched 80% of them out there. Great job. I think picking Real vs EXP is kind of like picking a CRM, the best CRM is the one you use. Similarly, if you work hard, take advantage of the benefits, help others etc. you will do great at either brokerage.
Thanks Joe. I did alot of this research before I made the decision of which brokerage to join. And your right, the tools you use are only useful if you actually use them. Are you considering making a move to a cloud brokerage? Want to hop on a call and I can talk to you more about my experience at REAL?
@@next-genagents7731 I have committed to join eXp already. However, Real was my second option and I have definitely partnered up with you. You provide so much value on your videos. So anyone joining Real should connect with you :). If things don’t work out at eXp I will definitely reach out. Thanks for all your great work with all you videos.
Sounds good. Best of luck at eXp. It's a good company. If you ever want to explore your options, I'd be happy to hop on a call with you and show you what REAL has to offer.
If you do not do close any GCI for 6 months your rev share shuts off until you get back into production? My Opinion -This is nothing to worry about right away but if you build a large enough orginaztion and want to work on the business ( Helping and supporting your orginization ) and not in the business... Then you are stuck because you will need to get back into production or your rev share income shuts off. I like many things about REAL and I am honestly glad they are in business because when companies compete the consumer wins ( AKA us agents) but this was a big turn-off for me. The big selling point with eXp was the ability to scale and eventually have the choice to get out of production and focus on building other businesses, flipping homes, investing or just spending time with friends and family. Not saying I want to get out of production or stop running my team... But life is about choice and I love how eXp keeps rev share going. Building wealth is about choice for me and this rule felt like I am locking myself in golden handcuffs. I hope the company considers changing this in the future because I do hear great things about REAL. Just my opinion. Looking forward to seeing how both companies progress. They both offer great Opportunities that are a net postive for the real estate agent community. Excellent video.
Yup, you have to earn at least a $3,000 commission every 6 months. This can be in the form of referrals too though which makes it alot easier. So you could send out 2-3 referrals a year and still be considered a producing agent and receive rev share. I actually like this decision. REAL does not want full time recruiters taking over the company or "multiple level marketing" experts getting their licences just to join real and recruit. They want the company and the rev share to be for working real estate agents. They have said that they are working on a "retirement plan" aspect of this where if you are a producing agent for so long, you can stop production and still receive rev share. Also at the One REAL Conference last week, the CEO announced that Rev Share will be willable to your family after you die and they do not have to be a real estate agent. So we can pass the rev share to our partner or children. That will be in effect Q1. That's HUGE for me. How open are you to hopping on a video call with me and we can talk more about REAL and eXp?
You're welcome. How open would you be too hoping on a video call with me and we can talk more about the two companies? You can pick a date and time here calendly.com/real-malcolm-lawson/realbroker?month=2023-02
I appreciate that @@next-genagents7731! My friend is at Real and we have chatted quite a lot about it. I just haven’t seen a comparison of eXp to Real as good as this one before. 👍
yeah, it made our rev share program even better with that change! Now, eXp has also changed their rev share program a good bit as well so looks like I do need to update this system.
Fantastic Video Malcolm! This really helps break it down for folks who want to dive in to the numbers. When I considered both companies, the reason I chose Real was because of the higher production award, the generous stock options and the fact that the company is in it's infancy still, and has yet to hit it's "j" curve growth. Piling up stock early on will be most advantageous to agents who are here from the early days! Thanks again for taking the time to make this video!
Great video! I think every EXP agent would like REAL brokerage since it is very similar. Both have their pros and cons. I think a MAJOR problem with EXP is how it has the reputation of being filled with recruiters even though the company was #1 in transactions last year for independent brokerages with over 350k transactions. Maybe I am completely wrong on this and please correct me if so but I don't see how Real is going to be able to maintain this model especially with insiders only owning 18% of the company as opposed to EXP insiders owning more than 50% as of now. I know REAL is much newer than EXP but REALs financials are significantly worse than EXPs financials according to finviz and yahoo finance. A lot of different variables and A LOT depends on what the stock is going to do for the agent in each company. In the end... every brokerage recruits and wants more agents. I think any agent looking to make a switch would be a fool to not at least look into EXP or REAL or any other cloud based brokerage. I don't understand why agents are still with companies like KW, CWB, Century21, REMAX, Berkshire Hathaway, etc.... that is absolutely mind blowing to me.
Thanks for your insight. I don't really see the connection between the model sustainability and what percentage is owned by the agent. eXp has shown that this cloud brokerage model is more then sustainable. I'm aslo not sure what you are talking about "according to finviz and yahoo finance". REAL publishes all of their finances for everyone to see every quarter and every single quarter all of their numbers go up. Income, profit, agent count, transaction count. REAL has almost no debt (despite what some agents on TH-cam claim) and are already profitable. The argument about only 18% of the company being owned by agents is just some of the misinformation being put out about REAL. REAL has alot of stock in reserve to give out to it's agents and does so generously but has only being give away stock to it's agents for the last 2 years. If it was the other way around and REAL had very little stock left to give out then you could say it would not be sustainable but that's not the case, REAL owns the majority of the stock so that it can continue to give free stock to it's agents in the future. Saying only 18% is owned by the agents and most of the rest is owned by the company seems like a moot point.
It’s a tough one. Real seems like a better brokerage. Mike Sherrard, his training, and his model absolutely blows this away. Moving to one in the next year or so.
So at REAL, you are not just getting training from one agent, you are getting training from EVERYONE in the company. We have over 200+ online courses, 30+ live streams a week, a few dozen reoccurring masterminds, including my monthly TH-cam mastermind, and hundreds of mastermind replays.
Great comparison 👏🏽 I heard Real has an agent equity/stock program and have been curious for a while. There were a few things I would touch in regards to the stock program and the trainings. But overall this was really informative! Thank you!
Thanks Evan, yeah REAL is pretty generous with their stock program and want the company to be agent owned. There where a few topics I could had gone deeper into but the video was already almost 50 minutes lol. I do have other videos on my channel going deeper into each of those programs. Would you be interested in hopping on a video call and I can go over some of the benefits of being with REAL a little deeper?
Thanks for taking the time to put this video together! Question: for new agents, is the $500 / annual brokerage fee due if two transactions have not closed by end of year? Does an agent have the option to just pay this annual fee monthly? $41.66 I’m wondering the annual broker fee balance carries over to next year.
Hey, nope. If you don't close any transaction you don't have to pay the annual fee. No way to turn it into a monthly fee. I like taking it out of your commissions better anyway though since you don't have to pay it until you have money coming in. Let me know if your interested in hopping on a video call and we can talk more.
yeah. The sponser agent get's 5% of any commission until the agent fully caps. Just like eXp or KW Profit share. Would you be open to hopping on a call and I can talk to you about it more?
Can you speak to the 10 transactions having to be greater than $1M with real. I don't believe that was a requirement of exp that they all be over $1M. What happens if you're in a market where million dollar properties are hard to come by? Thanks for making the video!
yeah, that is a new tweak to the Elite Agent requirement. The standard way of hitting Elite Agent is by paying so much is transaction fees, so essentially by closing enough homes. But they recognized that some agents in some markets only need to sell a handful of homes and will never hit the number of transaction requirements, so they also have the second way just for those specific agents. So I see the transaction fee method as the standard and the $500 GCI method as an exception. What company are you with now?
Now that Real Broker has increased its fees & rev share fee(s), can you do another video like this with the comparison to EXP?? This would greatly help agents like me that are looking to make a move but is undecided between the two brokerages.
Hi Shawana, yes, I intend to eventually. I put like 50 hours worth of work into this video between researching and editing so I am kinda dragging my feet starting another one. I do include the new rev share fees in this video and do also talk about the very small amount of rev share you can make at eXp for tiers you have not unlocked yet th-cam.com/video/EbCoK5j3NI0/w-d-xo.html. And my latest "REAL Broker Fully Explained" video has all the current fees in it. Even with the new fees at REAL, we are still much cheaper then eXp for the vast majority of agents. How would you like to hop on a video call and we can talk more about the differences between the two companies?
That is the plan. This video took me forever to make so I'm not exactly happy to have to remake it now lol But yeah, I will make some updated content with the new fees.
I think all cloud brokerages can be tough for brand new agents. Although, I will say that now REAL offers sponsorship, things have changed a bit. I can connect a new agent with a REAL agent in their area who is willing to give them some help if they are their co-sponsers into the company.
Thanks for the question Eddie, you don't lose it for ever. I talk about this at the end of the video and show what the ICA says about it. REAL does not want full-time recruiters or MLM experts taking advantage of this system. They instead prefer rewarding working real estate agents. If you contribute at least $400 in "company dollars" then you are eligible to receive revenue share for the next 6 months. If you go 7 months before you next closing, then you just don't receive revenue share that 1 month but you pick up right where you left off the following month. You don't lose your downline or anything. In fact, you could leave the company and come back 3 years later and the people in your downline will still be there. Want to hop on a video call and I can talk to you more about REAL?
They don't want to be known as recruiting company but they are paying influencer agents large sums to join Real, I have friends who were offered $100K+ to join
I'm really good friends with some of the biggest influencers at REAL and have NEVER heard of this. But this is common practice in the real estate industry so who knows. I've had Coldwell Banker offer me $50k once to join their local office in my city 🤷♂️ obviously I said no and joined REAL instead.
You did a decent job on this video, the only thing that I differ with only because I have seen the checks and know is I have a list of friends who are making several hundred thousand to millions a year on our Rev share.. No company has put more money back into the pockets of agent than EXP. We have access to everybody here, if the company all the way to Glad Stanford, but you know what they say the ultimate compliment is imitating, EXP paved the way. There is a reason it’s at 85000 agents and climbing when there is only a few thousand at Real. But I would tell you in my own experience I’ve had your agents try to recruit me just as aggressively multiple times, just don’t paint a picture of. It’s not their culture because it’s very much the culture, and it doesn’t matter, ALL businesses want more clients.
Hey Chris, to your point about agents making hundreds of thousands and millions at eXp, I have several good friends, many of which have been on this channel, who are making hundreds of thousands and millions a year from rev share here as well. One friend making $2M a year here and it's even more impressive when you consider we are only at 7k agents, when we hit 20k, 50k, 80k agents we are going to see alot more stories like that. The truth is that the majority of agents at eXp would make far more money at REAL with the exact same downline as they do at eXp. I'd say probably 95% of eXp agents would. BUT the top 1% or so of agents at REAL with the biggest downlines, probably would make more at eXp then at REAL. I don't know if you saw this video from Grant Cardone's wife, Elena, instagram.com/reel/CkOftaBI4IF/?igshid=YmMyMTA2M2Y%3D&fbclid=IwAR29DWEDPyLxA-wek4tcmYuM4912aCNohv0xpAZ4PomApIZZOhjwHsQQC4o but she says she built her downline to 760 agents and only makes $25k a month from that...no joke, at REAL she would be making $1M a year! I have 37 agents in my downline and make $4k-$5k a month. For the vast majority of agents, REAL has a more profitable rev share model. To your point about eXp being the first to popularize this model, yeah that's 100% true. But BlackBerry was the first to popularize smartphones...that does not mean BlackBerrys are the best smartphones. At one point we all used Netscape Navigator...now everyone uses Chrome. I see REAL as a second-generation cloud brokerage. We took what is working with the eXp model and improved on what was not working. Just like eXp adopted Keller Williams Profit Share model and improved on it. To your point about there benig a reason why eXp is 85k agents and REAL is 7k agents...there is a reason...the reason is that eXp has had this model for 13 years and REAL has had this model for 2. REAL is growing at over 150% a year and will be one of the biggest players in this space. The truth is REAL may never catch up to the size of eXp...but that has very little relevance on the experience of the agents here.
@@next-genagents7731 The Cardones are in our organization, what your not mentioning is she did that in 9 months though and its growing daily. My only point was both companies want the exact same thing, it's just packaged slightly different. Im not knocking Real, I think both of these companies are a smart choice for anyone who is at a brick and mortar brokerage. There is some differences like it takes the same production volume to cap, you transaction fees once cap never end so anyone closing 40 + deals a year then its cheaper to be at EXP. You did a good job on highlighting how EXP allows agents to build a huge business and can exit production where Real does not allow for this, most of us build businesses to accomplish just this, I don't personally want to chase the next deal the rest of my life. At Real you have an organization and don't close units every 6 months then you receive nothing. Another difference is that EXP allows for expansion revenue, so if I have 9 qualified agents then I can still make money on the following tiers which Real doesn't allow. So I wouldn't say Real is better, it's actually quite different, you just didn't take the math out far enough. Level 6 and 7 has the potential of thousands of agents which is a smarter position for builders, one of my friends here is making 7 figures a month because of that, its simply something your model cannot support. We also have no caps on contributions to purchase stocks at $.90 on the dollar, this earns a 10% return on day one, Real does cap their agents at $3400 before capping and $15,000 after capping. As too the ability to offer training and coaching that is not a bad thing either, I train agents weekly for free with the only desire to help them produce more, thats not a bad model its actually a huge value add. EXP has never bought an agent either where Real does try buying their influence. In the same 8 year window you have only made it to a few thousand agents and at the same time EXP made it over 55,000 agents. With an agent paying for Chime at Real there is only a $200 difference for the entire year of which I make back in stocks that EXP gives me on my agents who close and cap. With our stock options for hitting ICON we get some of our stocks where all of yours is vested for 3 years. It can take days to get support at Real where with EXP we have real time assistance. Real only has 1 broker per state so when they go on vacation who do you call, EXP has 37% more support for its agents. Financials are very different too Real investors.onereal.com/static-files/6e92da24-af1b-47be-a4ae-e8b4d1d545fc EXPis debt free and crushing billions in earning seekingalpha.com/news/3898763-exp-world-q3-2022-earnings-preview The real question is does one want to be a higher closer or if they only want to close 10-20 a year then Real might be a better fit.
So I disagree with ALOT of what you said in this post. Alot of this is just not factually accurate. 1. At the very start of that video she specifically says she did it in 18 months, not 9. I don't know where you got 9 months from. 2. You say anyone selling 40+ homes a year it's cheaper to be at eXp. This 1,000% is NOT TRUE. In the video I literally go through all the numbers, including awards, fees, capping bonuses, etc. for an agent closing 35 homes a year and it is over $14,000 cheaper to sell 35 homes a year at REAL then it is at eXp. I also break down all the numbers in spreadsheets in this article livinginmaryland.com/real-broker-vs-exp-realty/ 3. You are right that at eXp you can earn eXpansion Shares on agents you have not unlocked yet...but what most eXp agents leave out is that it's up to $16 a year per capping agent for most of your tiers. $16 a year does not excite me very much. Even if you have 10 agents or even 100 agents, it's so small it barely moves the needle especially when it's $14,000 cheaper to sell 35 homes a year at REAL. 4. Yea, you can buy eXp stock at $.90 per dollar but at REAL you can buy stock at $.70 per dollar. Sure REAL does have a cap on how much you can purchase, but you won't max this out until you earn over $218,000 in GCI which the majority of the agents at the company won't do. So again they have designed their system to be more favorable for the majority of the agents, not 1% of agents who sell the most. 5. Prior to 2020, REAL was ONLY in new york state. So you saying eXp has grown more in the last 8 years is completely arbitrary and makes no sense. If you were instead to compare the % growth of the two companies since 2020 when real started expanding in other states, I bet you they are incredibly close in growth % and it would be a more relevant number. REAL currently is growing at over 150% a year and that % is actually accelerating. 5. REAL has excellent support. I can open up my app and be on a call with support in seconds. Your claim it takes days to get support at REAL is completely not true! I have had nothing but excellent experiences with REAL support. I'm assuming you have never been an agent at REAL so you are not speaking from experience here. 6. You are right that REAL is very different then eXp...
min 4.44 in to your video, if purchase price $400k average commission 3% thats $12k per transaction, now REAL do 85/15 split meanning youll pay $1800 per transaction, now REAL has CAP $12k. so you saying you need 5 transaction to CAP. ant thats where ive got lost if amount you pay to real per transaction, in your example is $1800 x 5 transactions would equal $9k youll be still short $3000 k to CAP, conclusion to cap with real based on your example scenario you still need 7 transactions to CAP same as EXP. so Transaction fees for remaining 13 transactions would be $2925. Based on you scenarion 20 deals a year average price 400k with 3% commission total fees to Real should be $15,425 vs EXP $21,270 😁
Looks like you are right, good catch! Yes, about 7 deals to cap at both companies. There was alot of numbers in this video, I was bound to slip up at some point. REAL has rolled out with a bunch of new tech since I made this video and I need to make an updated version of this comparison.
Yup, we made that change about 6 months ago. Even with the fee changes, REAL is still cheaper then eXp in just about every scenario. I just put out a video comparing REAL, eXp and LPT cost. This video took me like 40 hours to make which is why I'm dragging my feet to re-make it. It's on my list though, especially now that REAL has willable rev share and a rev share retirement plan.
✅ Learn More About Joining REAL Here www.joinreal.com/malcolm-lawson/refer
✅Schedule a 1-on-1 video call with me by email Malcolm@LivingInMaryland.com
I must say this is probably one of the best comparison videos I have seen. I think I have watched 80% of them out there. Great job. I think picking Real vs EXP is kind of like picking a CRM, the best CRM is the one you use. Similarly, if you work hard, take advantage of the benefits, help others etc. you will do great at either brokerage.
Thanks Joe. I did alot of this research before I made the decision of which brokerage to join. And your right, the tools you use are only useful if you actually use them. Are you considering making a move to a cloud brokerage? Want to hop on a call and I can talk to you more about my experience at REAL?
@@next-genagents7731 I have committed to join eXp already. However, Real was my second option and I have definitely partnered up with you. You provide so much value on your videos. So anyone joining Real should connect with you :).
If things don’t work out at eXp I will definitely reach out. Thanks for all your great work with all you videos.
Sounds good. Best of luck at eXp. It's a good company. If you ever want to explore your options, I'd be happy to hop on a call with you and show you what REAL has to offer.
Great comment. Thank you.
Thanks for the info! Exp doesn’t force agents to use the world. Work place is all that is truly needed
I love how thorough this is. You really thought this through, thank you!!
Thank you! I put alot of work into researching this video. Would you like to hop on a video call and talk more about REAL Broker?
If you do not do close any GCI for 6 months your rev share shuts off until you get back into production?
My Opinion -This is nothing to worry about right away but if you build a large enough orginaztion and want to work on the business ( Helping and supporting your orginization ) and not in the business... Then you are stuck because you will need to get back into production or your rev share income shuts off. I like many things about REAL and I am honestly glad they are in business because when companies compete the consumer wins ( AKA us agents) but this was a big turn-off for me.
The big selling point with eXp was the ability to scale and eventually have the choice to get out of production and focus on building other businesses, flipping homes, investing or just spending time with friends and family. Not saying I want to get out of production or stop running my team... But life is about choice and I love how eXp keeps rev share going. Building wealth is about choice for me and this rule felt like I am locking myself in golden handcuffs. I hope the company considers changing this in the future because I do hear great things about REAL.
Just my opinion. Looking forward to seeing how both companies progress. They both offer great Opportunities that are a net postive for the real estate agent community. Excellent video.
Yup, you have to earn at least a $3,000 commission every 6 months. This can be in the form of referrals too though which makes it alot easier. So you could send out 2-3 referrals a year and still be considered a producing agent and receive rev share. I actually like this decision. REAL does not want full time recruiters taking over the company or "multiple level marketing" experts getting their licences just to join real and recruit. They want the company and the rev share to be for working real estate agents. They have said that they are working on a "retirement plan" aspect of this where if you are a producing agent for so long, you can stop production and still receive rev share. Also at the One REAL Conference last week, the CEO announced that Rev Share will be willable to your family after you die and they do not have to be a real estate agent. So we can pass the rev share to our partner or children. That will be in effect Q1. That's HUGE for me. How open are you to hopping on a video call with me and we can talk more about REAL and eXp?
I’m a RE/MAX agent considering both companies, this video was extremely helpful because the decision is not quite black and white. Thank you sir!
You're welcome. How open would you be too hoping on a video call with me and we can talk more about the two companies? You can pick a date and time here calendly.com/real-malcolm-lawson/realbroker?month=2023-02
I appreciate that @@next-genagents7731! My friend is at Real and we have chatted quite a lot about it. I just haven’t seen a comparison of eXp to Real as good as this one before. 👍
@@mikebanks4796 thanks man!
Great video! I am curious how your REAL vs eXp rev share would differ now that REAL changed Tier 1 to be 4 agents before Tier 2 opened up.
yeah, it made our rev share program even better with that change! Now, eXp has also changed their rev share program a good bit as well so looks like I do need to update this system.
Fantastic Video Malcolm! This really helps break it down for folks who want to dive in to the numbers. When I considered both companies, the reason I chose Real was because of the higher production award, the generous stock options and the fact that the company is in it's infancy still, and has yet to hit it's "j" curve growth. Piling up stock early on will be most advantageous to agents who are here from the early days! Thanks again for taking the time to make this video!
Thanks alot. Yeah, I'm excited to be part of a company I really believe will shape and change the industry!
Great video Malcolm! Awesome breakdown, super informative. I think a lot of agents considering these brokerages will take a lot of value from this 👍
Thanks Zach! I put a lot of work into this one.
Great video! I think every EXP agent would like REAL brokerage since it is very similar. Both have their pros and cons. I think a MAJOR problem with EXP is how it has the reputation of being filled with recruiters even though the company was #1 in transactions last year for independent brokerages with over 350k transactions. Maybe I am completely wrong on this and please correct me if so but I don't see how Real is going to be able to maintain this model especially with insiders only owning 18% of the company as opposed to EXP insiders owning more than 50% as of now. I know REAL is much newer than EXP but REALs financials are significantly worse than EXPs financials according to finviz and yahoo finance. A lot of different variables and A LOT depends on what the stock is going to do for the agent in each company. In the end... every brokerage recruits and wants more agents. I think any agent looking to make a switch would be a fool to not at least look into EXP or REAL or any other cloud based brokerage. I don't understand why agents are still with companies like KW, CWB, Century21, REMAX, Berkshire Hathaway, etc.... that is absolutely mind blowing to me.
Thanks for your insight. I don't really see the connection between the model sustainability and what percentage is owned by the agent. eXp has shown that this cloud brokerage model is more then sustainable. I'm aslo not sure what you are talking about "according to finviz and yahoo finance". REAL publishes all of their finances for everyone to see every quarter and every single quarter all of their numbers go up. Income, profit, agent count, transaction count. REAL has almost no debt (despite what some agents on TH-cam claim) and are already profitable. The argument about only 18% of the company being owned by agents is just some of the misinformation being put out about REAL. REAL has alot of stock in reserve to give out to it's agents and does so generously but has only being give away stock to it's agents for the last 2 years. If it was the other way around and REAL had very little stock left to give out then you could say it would not be sustainable but that's not the case, REAL owns the majority of the stock so that it can continue to give free stock to it's agents in the future. Saying only 18% is owned by the agents and most of the rest is owned by the company seems like a moot point.
Great video. Thank you!
Thank you I have been thinking about joining Real.
It’s a tough one. Real seems like a better brokerage. Mike Sherrard, his training, and his model absolutely blows this away. Moving to one in the next year or so.
So at REAL, you are not just getting training from one agent, you are getting training from EVERYONE in the company. We have over 200+ online courses, 30+ live streams a week, a few dozen reoccurring masterminds, including my monthly TH-cam mastermind, and hundreds of mastermind replays.
Thanks so much for such in depth info!
of course! Are you looking to joining either REAL or eXp?
Great breakdown and comparison of the two companies!
Thanks man!
Great comparison 👏🏽 I heard Real has an agent equity/stock program and have been curious for a while. There were a few things I would touch in regards to the stock program and the trainings. But overall this was really informative! Thank you!
Thanks Evan, yeah REAL is pretty generous with their stock program and want the company to be agent owned. There where a few topics I could had gone deeper into but the video was already almost 50 minutes lol. I do have other videos on my channel going deeper into each of those programs. Would you be interested in hopping on a video call and I can go over some of the benefits of being with REAL a little deeper?
@@next-genagents7731 I'll check them out! And yes I'm open to hop on a call. 🤙🏽
Great, I just sent a text to the number in your video description. We can also mastermind about TH-cam as well.
What’s Realady?
Great comparison. How did you get this REAL approved? I’ve tried a few videos like this and was asked to take them down.
I'll send you a PM.
Thanks for taking the time to put this video together! Question: for new agents, is the $500 / annual brokerage fee due if two transactions have not closed by end of year? Does an agent have the option to just pay this annual fee monthly? $41.66 I’m wondering the annual broker fee balance carries over to next year.
Hey, nope. If you don't close any transaction you don't have to pay the annual fee. No way to turn it into a monthly fee. I like taking it out of your commissions better anyway though since you don't have to pay it until you have money coming in. Let me know if your interested in hopping on a video call and we can talk more.
what if the agents don't cap Real pay out per transaction like EXP?
yeah. The sponser agent get's 5% of any commission until the agent fully caps. Just like eXp or KW Profit share. Would you be open to hopping on a call and I can talk to you about it more?
Can you speak to the 10 transactions having to be greater than $1M with real. I don't believe that was a requirement of exp that they all be over $1M. What happens if you're in a market where million dollar properties are hard to come by? Thanks for making the video!
yeah, that is a new tweak to the Elite Agent requirement. The standard way of hitting Elite Agent is by paying so much is transaction fees, so essentially by closing enough homes. But they recognized that some agents in some markets only need to sell a handful of homes and will never hit the number of transaction requirements, so they also have the second way just for those specific agents. So I see the transaction fee method as the standard and the $500 GCI method as an exception. What company are you with now?
Now that Real Broker has increased its fees & rev share fee(s), can you do another video like this with the comparison to EXP?? This would greatly help agents like me that are looking to make a move but is undecided between the two brokerages.
Hi Shawana, yes, I intend to eventually. I put like 50 hours worth of work into this video between researching and editing so I am kinda dragging my feet starting another one. I do include the new rev share fees in this video and do also talk about the very small amount of rev share you can make at eXp for tiers you have not unlocked yet th-cam.com/video/EbCoK5j3NI0/w-d-xo.html. And my latest "REAL Broker Fully Explained" video has all the current fees in it. Even with the new fees at REAL, we are still much cheaper then eXp for the vast majority of agents. How would you like to hop on a video call and we can talk more about the differences between the two companies?
Especially with the latest update and the Tier 2 unlock at 5 agents instead of 10 and also the will-able rev share.
@@next-genagents7731
yup, lots to update here. I'll create a new comparison video for 2024 with all the updated numbers.
I like your video guy ! You do presentation very 👍 good job
Thank man!
Can you do a new comparison video with all the new changes with ΓEA⅃ ?
That is the plan. This video took me forever to make so I'm not exactly happy to have to remake it now lol But yeah, I will make some updated content with the new fees.
Real it is
so you wouldn’t recommend real for a brand new agent ?
I think all cloud brokerages can be tough for brand new agents. Although, I will say that now REAL offers sponsorship, things have changed a bit. I can connect a new agent with a REAL agent in their area who is willing to give them some help if they are their co-sponsers into the company.
Exp is a no-brainer✌️
Why do you feel that way? 🤷♂️
If you do not do any GCI for 6 months do you lose your revenue for the people you brought to the company forever and have to start it over ?
Thanks for the question Eddie, you don't lose it for ever. I talk about this at the end of the video and show what the ICA says about it. REAL does not want full-time recruiters or MLM experts taking advantage of this system. They instead prefer rewarding working real estate agents. If you contribute at least $400 in "company dollars" then you are eligible to receive revenue share for the next 6 months. If you go 7 months before you next closing, then you just don't receive revenue share that 1 month but you pick up right where you left off the following month. You don't lose your downline or anything. In fact, you could leave the company and come back 3 years later and the people in your downline will still be there. Want to hop on a video call and I can talk to you more about REAL?
@@next-genagents7731 I would like to schedule a conversation with you. I have to get some questions together. Thanks
@@eddiejonesexprealty8471 Great. I just texted the number on your TH-cam channel to set something up.
@@next-genagents7731 When the time comes to retire, does it mean you still need to do a few transactions per year to get your revenue share?
They don't want to be known as recruiting company but they are paying influencer agents large sums to join Real, I have friends who were offered $100K+ to join
I'm really good friends with some of the biggest influencers at REAL and have NEVER heard of this. But this is common practice in the real estate industry so who knows. I've had Coldwell Banker offer me $50k once to join their local office in my city 🤷♂️ obviously I said no and joined REAL instead.
You did a decent job on this video, the only thing that I differ with only because I have seen the checks and know is I have a list of friends who are making several hundred thousand to millions a year on our Rev share..
No company has put more money back into the pockets of agent than EXP. We have access to everybody here, if the company all the way to Glad Stanford, but you know what they say the ultimate compliment is imitating, EXP paved the way.
There is a reason it’s at 85000 agents and climbing when there is only a few thousand at Real.
But I would tell you in my own experience I’ve had your agents try to recruit me just as aggressively multiple times, just don’t paint a picture of. It’s not their culture because it’s very much the culture, and it doesn’t matter, ALL businesses want more clients.
Hey Chris, to your point about agents making hundreds of thousands and millions at eXp, I have several good friends, many of which have been on this channel, who are making hundreds of thousands and millions a year from rev share here as well. One friend making $2M a year here and it's even more impressive when you consider we are only at 7k agents, when we hit 20k, 50k, 80k agents we are going to see alot more stories like that. The truth is that the majority of agents at eXp would make far more money at REAL with the exact same downline as they do at eXp. I'd say probably 95% of eXp agents would. BUT the top 1% or so of agents at REAL with the biggest downlines, probably would make more at eXp then at REAL. I don't know if you saw this video from Grant Cardone's wife, Elena, instagram.com/reel/CkOftaBI4IF/?igshid=YmMyMTA2M2Y%3D&fbclid=IwAR29DWEDPyLxA-wek4tcmYuM4912aCNohv0xpAZ4PomApIZZOhjwHsQQC4o but she says she built her downline to 760 agents and only makes $25k a month from that...no joke, at REAL she would be making $1M a year! I have 37 agents in my downline and make $4k-$5k a month. For the vast majority of agents, REAL has a more profitable rev share model. To your point about eXp being the first to popularize this model, yeah that's 100% true. But BlackBerry was the first to popularize smartphones...that does not mean BlackBerrys are the best smartphones. At one point we all used Netscape Navigator...now everyone uses Chrome. I see REAL as a second-generation cloud brokerage. We took what is working with the eXp model and improved on what was not working. Just like eXp adopted Keller Williams Profit Share model and improved on it. To your point about there benig a reason why eXp is 85k agents and REAL is 7k agents...there is a reason...the reason is that eXp has had this model for 13 years and REAL has had this model for 2. REAL is growing at over 150% a year and will be one of the biggest players in this space. The truth is REAL may never catch up to the size of eXp...but that has very little relevance on the experience of the agents here.
@@next-genagents7731
The Cardones are in our organization, what your not mentioning is she did that in 9 months though and its growing daily.
My only point was both companies want the exact same thing, it's just packaged slightly different. Im not knocking Real, I think both of these companies are a smart choice for anyone who is at a brick and mortar brokerage.
There is some differences like it takes the same production volume to cap, you transaction fees once cap never end so anyone closing 40 + deals a year then its cheaper to be at EXP.
You did a good job on highlighting how EXP allows agents to build a huge business and can exit production where Real does not allow for this, most of us build businesses to accomplish just this, I don't personally want to chase the next deal the rest of my life.
At Real you have an organization and don't close units every 6 months then you receive nothing. Another difference is that EXP allows for expansion revenue, so if I have 9 qualified agents then I can still make money on the following tiers which Real doesn't allow. So I wouldn't say Real is better, it's actually quite different, you just didn't take the math out far enough.
Level 6 and 7 has the potential of thousands of agents which is a smarter position for builders, one of my friends here is making 7 figures a month because of that, its simply something your model cannot support.
We also have no caps on contributions to purchase stocks at $.90 on the dollar, this earns a 10% return on day one, Real does cap their agents at $3400 before capping and $15,000 after capping.
As too the ability to offer training and coaching that is not a bad thing either, I train agents weekly for free with the only desire to help them produce more, thats not a bad model its actually a huge value add. EXP has never bought an agent either where Real does try buying their influence. In the same 8 year window you have only made it to a few thousand agents and at the same time EXP made it over 55,000 agents.
With an agent paying for Chime at Real there is only a $200 difference for the entire year of which I make back in stocks that EXP gives me on my agents who close and cap. With our stock options for hitting ICON we get some of our stocks where all of yours is vested for 3 years.
It can take days to get support at Real where with EXP we have real time assistance. Real only has 1 broker per state so when they go on vacation who do you call, EXP has 37% more support for its agents.
Financials are very different too
Real investors.onereal.com/static-files/6e92da24-af1b-47be-a4ae-e8b4d1d545fc
EXPis debt free and crushing billions in earning seekingalpha.com/news/3898763-exp-world-q3-2022-earnings-preview
The real question is does one want to be a higher closer or if they only want to close 10-20 a year then Real might be a better fit.
So I disagree with ALOT of what you said in this post. Alot of this is just not factually accurate. 1. At the very start of that video she specifically says she did it in 18 months, not 9. I don't know where you got 9 months from.
2. You say anyone selling 40+ homes a year it's cheaper to be at eXp. This 1,000% is NOT TRUE. In the video I literally go through all the numbers, including awards, fees, capping bonuses, etc. for an agent closing 35 homes a year and it is over $14,000 cheaper to sell 35 homes a year at REAL then it is at eXp. I also break down all the numbers in spreadsheets in this article livinginmaryland.com/real-broker-vs-exp-realty/
3. You are right that at eXp you can earn eXpansion Shares on agents you have not unlocked yet...but what most eXp agents leave out is that it's up to $16 a year per capping agent for most of your tiers. $16 a year does not excite me very much. Even if you have 10 agents or even 100 agents, it's so small it barely moves the needle especially when it's $14,000 cheaper to sell 35 homes a year at REAL.
4. Yea, you can buy eXp stock at $.90 per dollar but at REAL you can buy stock at $.70 per dollar. Sure REAL does have a cap on how much you can purchase, but you won't max this out until you earn over $218,000 in GCI which the majority of the agents at the company won't do. So again they have designed their system to be more favorable for the majority of the agents, not 1% of agents who sell the most.
5. Prior to 2020, REAL was ONLY in new york state. So you saying eXp has grown more in the last 8 years is completely arbitrary and makes no sense. If you were instead to compare the % growth of the two companies since 2020 when real started expanding in other states, I bet you they are incredibly close in growth % and it would be a more relevant number. REAL currently is growing at over 150% a year and that % is actually accelerating.
5. REAL has excellent support. I can open up my app and be on a call with support in seconds. Your claim it takes days to get support at REAL is completely not true! I have had nothing but excellent experiences with REAL support. I'm assuming you have never been an agent at REAL so you are not speaking from experience here.
6. You are right that REAL is very different then eXp...
min 4.44 in to your video, if purchase price $400k average commission 3% thats $12k per transaction, now REAL do 85/15 split meanning youll pay $1800 per transaction, now REAL has CAP $12k. so you saying you need 5 transaction to CAP. ant thats where ive got lost if amount you pay to real per transaction, in your example is $1800 x 5 transactions would equal $9k youll be still short $3000 k to CAP, conclusion to cap with real based on your example scenario you still need 7 transactions to CAP same as EXP. so Transaction fees for remaining 13 transactions would be $2925. Based on you scenarion 20 deals a year average price 400k with 3% commission total fees to Real should be $15,425 vs EXP $21,270 😁
Looks like you are right, good catch! Yes, about 7 deals to cap at both companies. There was alot of numbers in this video, I was bound to slip up at some point. REAL has rolled out with a bunch of new tech since I made this video and I need to make an updated version of this comparison.
Yea i saw they rolled some stuff, also some of the fees was adjusted i think now is $750 a year deducted from the first 3 transactions
Yup, we made that change about 6 months ago. Even with the fee changes, REAL is still cheaper then eXp in just about every scenario. I just put out a video comparing REAL, eXp and LPT cost. This video took me like 40 hours to make which is why I'm dragging my feet to re-make it. It's on my list though, especially now that REAL has willable rev share and a rev share retirement plan.
@@next-genagents7731 that’s cool I’ll check it out, i looking to switch from my current brokerage to ether real or exp, I’m still undecided
I'd be happy to hop on a call with you and help you figure out which one is the best fit for you. Link to schedule a call is in all of my videos.