Hybrid estate agency eXp UK has now signed up more than 500 estate agents with the company expected to expand further later this year, the firm has revealed.
Launched in November 2019, the digitally-focused platform initially signed up 50 agents but now has 506 agents on board, as more agents seek self-employment with a view to managing their own business.
The latest announcement comes less than a year after the firm reached 400 member agents and just a week after it announced the launch of its brokerage model – designed to convert existing branch-based estate agency businesses to the use of self-employed fee-earners.
eXp UK allows individuals to trade with their own ‘name above the door’, but charges agents up to 30% of the commission they generate in exchange for access to its business support package and branding.
eXp UK has been actively looking to expand its presence across the country. Last year eXp UK launched its referral network allowing eXp agents to introduce potential sellers to each other on a national scale – an initiative that the firm says generated an estimated 1.2m in potential commissions being referred from one eXp agent to another.
The head of eXp UK, Adam Day, commented: “To have grown from just a handful of member agents in 2019 to a nationwide network of over 500 today is a huge achievement and one that we’re incredibly proud of. It demonstrates that there isn’t just an appetite for the self-employed model, we now have our feet firmly under the table and are not only the largest self-employed agency, but one of the UK’s largest agencies full stop.
“The increase in earning potential, flexibility and quality of life, coupled with the support, technology, innovation and culture of eXp UK is a winning combination and one we look forward to building on this year and for many years to come.”
eXP UK launches model for high-street estate agencies to switch to using self-employed fee-earners
Is this the same model which many part-time realtors in USA operate under. Work as and when it pleases them between their other jobs. Having experienced that model, it is fraught with issues and the most worrying thing is the backlash they have in the states with customer service, becoming the norm in the UK with the public taring everyone with the same brush?
Its a business model that wants 30% of the commission after all.
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eXp UK are a business which based on sales are in the TOP 10 estate agency business in the whole of the UK – within 4 years, with no central marketing spend and you haven’t seen anything yet I assure you.
One day, a simple congratulations would go a long way. We’ve worked quite hard to get here.
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I believe there are a handful of successful agents tied to EXP as is the case with different “schemes” and those guys/girls promote the pyramid selling aspect, but its different strokes for different folks and if it works for them, that’s great.
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