I love offering listeners fantastic benefits, such as some great discounts for products. These include the PM Grow Summit, website production through Property Managed Website, showing services through Tenant Turner, and more, with new offers coming all the time! You can see a complete list of the current offers at propertymanagementmastermind.com. For all of these offers, use the discount code “Brad” to secure your discount.

Scott Lewis, today’s guest, has been wildly successful in just a couple of years, and his company eXp Realty is now hitting a viral stage. Its number of agents has grown almost ten times in size in just two years. Now that we’ve partnered with their fantastic company, it’s easy to see why they’ve been so successful!

I want you to hear about the fantastic collaboration between our companies, RentWerx and SaleWerx, and Scott’s company eXp Realty. We have RentWerx on one side focusing on single-family and multifamily property management, and Saleworks on the other side, focusing on residential single-family home sales. Both are powered by eXp Realty, and we couldn’t be happier.

In our conversation today, we’ll dig into why a property management company like RentWerx decided to team up with eXp Realty, and all the good things that have come out of the partnership. Scott will explain why the eXp model is radically different, including why he feels that the franchise model has been unfair to agents. The eXp model, on the other hand, is designed to empower the agent.

At eXp, the model involves having one broker per state working in tandem with other people to assist with questions, paperwork, compliance, transactions, and more. I used to feel like I had to constantly interrupt what I was doing with property management tasks to deal with state or local compliance issues, and now eXp takes care of all of that and let me juggle fewer tasks.

Tune in to hear more! And if you can’t get enough about property management, join our Facebook group to get in touch with more industry professionals!

Here’s where you can find Scott:

eXp Realty

Explode Your Career on YouTube

explodeyourcareer on Instagram

Show Notes

[03:23] - Scott starts things off by explaining how he and his wife, Traci, transitioned from their work with Century 21 and Keller Williams to owning eXp Realty.

[05:27] - What is Scott’s answer to the question “why eXp?”

[06:34] - Brad points out that the empowerment of agents is a big reason why they changed to eXp Realty. He gives some reasons for why this made so much sense for a property management company.

[08:02] - Scott talks about the recurring revenue stream that Brad has been discussing.

[09:01] - Brad steps in to more fully explain the difference between profit-sharing and revenue-sharing, and clarifies what eXp offers.

[12:20] - We hear more from Scott about how eXp has helped Brad be able to focus more on what he’s best at instead of dealing with distractions.

[13:58] - The key thing to look at here, Scott says, is that the only thing at risk with joining eXp is your ego.

[15:04] - Brad expands on what he’s looking for with agents and mentions the option of working with referrals.

[18:30] - We learn about cloud-based support at eXp. It’s something you have to experience for yourself, Scott says.

[20:48] - Scott quantifies eXp’s astonishing growth for the audience. The company went from 800 agents to over 7,000 in a little over two years, and is now in 47 states.

[22:25] - Brad had some losses as a real estate brokerage because there are small fees with eXp, but discovered that the good agents understand the model and don’t have any problem with it.

[25:03] - We hear some reasons why a hypothetical property management company owner in California might want to join eXp, and how it might work.

[27:52] - Brad brings up a few more points about the benefits that eXp offers.

[29:21] - Let’s talk numbers! We hear about the specific percentage of the split, as well as some of the details of the process of working with eXp.

[31:06] - At eXp, there are multiple people who are highly invested in helping you and answering your questions.

[32:21] - Scott talks more about the 80/20 split, where 80% goes to the company but 20% goes to eXp, which is owned by the agents. He then discusses the potential income one can earn with the company.

[36:26] - What made Brad’s decision for him was the realization that he had very little to lose and gigantic potential to do well.

[37:44] - Scott brings up another point, this time involving CRM tools.

[39:07] - We hear more about the costs at eXp.

[40:14] - One of the challenges that Scott and Brad have talked about is onboarding agents, Brad explains. Brad then talks about onboarding.

[42:07] - Brad talks about some of the next steps, and invites listeners to email him at [email protected].

[43:22] - Scott shares his parting thoughts and advice for listeners.

Links and Resources:

eXp Realty

Explode Your Career on YouTube

explodeyourcareer on Instagram

RentWerx San Antonio

Max Grow products

Seacoast Commerce Bank

Century 21

Keller Williams

LeadSimple