eXp UK, has announced that it now has 100 estate agents working within the model in the UK.
“We’re really pleased that so many brilliant and experienced agents are seeing the value in the proposition,” said Adam Day, Expansion Lead of eXp UK.
“Our official launch was in November 2019 and we’ve attracted 100 agents since that time.
“We challenged ourselves to find the most experienced agents to join the business, and despite the current economic challenges, we have built a fantastic team of truly excellent estate agents.
“With this high calibre group, I know we’ll continue to grow our brand bigger and stronger.”
Michael Valdes, EVP of Global Expansion for eXp Corporation, confirmed expansion plans for the business:
“eXp launched in Australia shortly after the UK, and recently announced we will be entering five new markets including France, India, Mexico, Portugal and South Africa later this year,”
“The goal is for eXp agents to be paid well enough to only have to deal with just a handful of clients at any one time,” says Day.
“We want all clients to receive personal service, tailored to their needs.
“We will continue to grow our estate agents in the UK and we will be the envy of the worldwide expansion.”
Shame there is no laughing emoji.
KW EXP and any other of these ‘Self Employed’ model are basically AVON sellers. Little bit of pocket money not taking it too seriously. Expect a massive turnover of agents and VERY low numbers of success stories – YES there will be some success but it will be the exception as opposed to the rule.
Strange how all the people promoting this were the same ones telling us online was the future …… Why not go out and try and earn a living rather than leeching off others (Be it investors or individuals)?
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OK I’ll bite. That’s about as far away from the reality as you will get. Honestly, it is.
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Anyone who criticises the eXp model can’t possibly have done their research into it. If you have researched it and it’s not for you, then that’s fine. It’s not for everyone of course – and you won’t find eXp saying that it is.
It’s simply a cost-effective framework to enable people who want to work for themselves to do so without incurring massive overheads. And that’s pretty much it. There are many brilliant estate agents out there, who would be suited to running their own business, but not everyone can afford, or wants to, spend thousands upon thousands on fixed overheads. eXp solves that.
Yes, we know you CAN dream up your own brand, yes we know you CAN spend thousands each month on the portals and CRM. And no-one is stopping you.
It’s one of several models out there – if you don’t like it, then feel free to do something else.
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Totally Agree Neil! There is a very good reason why eXp are the fastest growing broker in the USA and it is foolhardy to consider them in the terms that “Smile Please” does, albeit very predictable!
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I have been with eXp for several months. I am very glad that I did as it’s been hugely worthwhile.
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For many people the backstory of eXp is already known; but for those new to the brand, it was born in the US as an innovative real estate alternative to traditional brokerages, that were often limited to a regional or state wide MLS. Think of eXp as a platform, rather than a traditional ‘hub and spoke’ model, one that enables property people to build a personal reputation in their local market.
I have scrutinized many business models over the years and I have to say, biased as I am, that the eXp model is extraordinarily clever, and brings with it extraordinary results. The personal agent route is clearly not for everyone, and in fact, I have a huge amount of respect for those that back themselves and make the brave decision to start their own business accepting that there will be bumps along the way.
For those estate agency owners who operate or direct businesses, they will know first hand that running a business is tough. Business ownership rewards risk taking and shoulders one with the burden of ‘always around the corner’ chance of failure. It’s not for the faint hearted. A common trait among the most successful entrepreneurs is to inspire others to do what they did.
I do find it difficult to accept any form of criticism aimed at those that have taken the life decision to do something different. Different, yes but wrong or doomed to fail? Absolutely not.
How refreshing would be it be to celebrate their enterprising spirit? To encourage them to be every bit as successful as they set out to be? These are the people that have moved it from ‘maybe one day’ to ‘today is the day’.
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I’ll celebrate with you @olivergleave
With the COVID-19 lockdown teaching all agents and consumers alike that the ‘need’ for a high street branch to run a successful estate agency is not actually a ‘need’. It’s more of a historical happenstance and a ‘choice’.
Now, we know that the most successful agents and those enjoying growth in market share right now were those that stayed open during lock-down, engaging with their prospects and customers.
These agents are typically independent traditional agents and ‘new model’ self-employed business owners. Not having to recommission a High Street office meant a faster start. And now customers are attuned to the fact that a High Street shop doesn’t necessarily mean ready access to a quality agent, they are more likely to value accessibility, responsiveness and capability more highly than a physical presence on the High Street.
And independent go-it-alone, business owning, self-starters – the types that set up on their own – under a brand such as eXP, their own developed brand or a tried and tested franchise model such as EweMove, will have the traits that customers are now seeking out. Confidence, energy and ability among others.
So some agents who want to back themselves will work with the likes of eXp and share their commission, others will work with EweMove and pay a fixed fee for ALL their services, whilst retaining 100% of their commission. It’s a great choice right now for energetic, hungry, capable and enthusiastic people (agents and non-agents alike) to branch out on their own.
I’d encourage everyone to examine all the different model options open to them, before they simply job-hop, the only thing I’d advise not to do, is start from scratch without the support of a proven network behind them…..
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I hear eXp take 30% of the fees and provide no marketing in return apart from the platform?
eXp Is the correct?
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No, it isn’t.
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That’s a bit like saying you pay £2500 a year council tax for the council to empty your bins.
Not false per se, but extremely misleading, certainly by no means the full story and and an exceptionally lazy statement to make.
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For the life of me, cannot we not for a moment take the article as written and applaud the success of eXp UK in recruiting this milestone of experienced EAs.
This is no mean feat and is down to the fact that Adam Day has put heart and soul into this venture, which to my mind has brought Adam to the fore showing the best of himself with, no doubt, more to come now they are on a roll. It looks as though Adam’s recruitment process has already paid dividends resulting in an overall property register that could be considered as enviable at this early stage of life.
So let us applaud what has been achieved in a relatively short space of time and not digress to this or similar articles to promote our own offerings.
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Taking any Tom, Dick or Harry is not recruitment to be proud of.
EXP are basically Avon, most will fail, certainly not make a true living.
The more Adam recruits, the more slithers of the pie he achieves. I dont know his remuneration package but lets say its 5% of a fee the client pays.
All he needs to do is keep recruiting, replace the **** with more ****, one or two will do well. He can make a nice little earner off others.
Just like Quirk, afraid of a real job, just keep throwing more s**t at the wall hoping some will stick.
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That’s a pretty unhealthy and deeply inaccurate interpretation of whats actually happening on the ground.
I would much rather read a constructive counter-argument, based on facts – but that seems to be a key ingredient missing from this sort of retort, and countless others you’ve made in the past if I may say so.
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I can categorically tell you that if you’re not experienced, or driven, or don’t understand what it means to run your own business – risks and all – you absolutely will NOT get an invite into the eXp system.
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