The world is changing due to technology and that includes real estate. Before the internet, the prospect/client had to come into the brokers office and page through a hard- covered book of the listings. Now, our customers are going to the internet first and then contacting a real estate agent.
Entire industries are changing and being taken over by one technology company that can provide products and services faster and for less! Examples include the retail industry where Amazon has bankrupted many brick and mortar retail space companies in place of the Amazon Cloud. Airbnb now has more hotel rooms than the top 3 hotel chains in the world and they don’t own one room! And there are numerous examples of this happening in all industries.
The real estate industry has typically been slow to move in technology until now! Ten years ago a top Keller Williams broker, Glenn Sanford, decided to build a real estate brokerage using technology just like Amazon was doing. He realized that there was no longer a need for a broker’s office as the consumer was using the internet and cloud to get their information. Born out of this was the company eXp Realty.
Glenn Sanford believed that the real estate agent and broker did the heavy lifting in real estate and that they should be compensated in the same way and become owners of the company as well. He also loved the additional stream of income, profit share, that Keller Williams has where when you invite an agent you get a piece of the profit based on that agents commissions. But instead of having profit share, since costs were slashed without all the office expenses (Keller Williams had over $700 million in office expense in 2018), eXp Realty has Revenue Share that pays much more.
All major brokers are stuck with heavy overhead costs and there is no stock to share with the agents or brokers. You can now enjoy both the revenue share and own publicly traded stock and you can do so without having to pay for the stock! All this wealth is now being redistributed back to the agents and brokers who do the heavy lifting!
You can see the future of real estate and this business model by registering for my webinar at: DocHankWebinar.com
You can also see a short 7-minute video at: https://www.agentbuilderpro.com/client/dr-hank