Gene Frederick explains eXp Revenue Share
Gene Frederick, a current member of eXp Realty’s Board of Directors, explains how eXp Realty's revenue share program can change the lives of hard working real estate agents. After getting into real estate in 1984, Gene worked for a small independent and then transitioned to RE/MAX for a number of years before purchasing his first franchise. Additionally, Gene spent over 21 years with Keller Williams as a manager, team leader and then the Northern California regional owner at Keller Williams. He also owned six premium Keller Williams offices until discovering eXp Realty in 2015.
In this video, Gene discusses how he found himself at eXp Realty, a revolutionary real estate brokerage model, why agents love this model, how eXp sustains over 89,000 agents and why he compares eXp to Netflix.
What is Revenue Share? And How is it Possible?
Traditional franchised real estate brokerages have an international office, state regional offices, and local offices or market centers. Each of these levels contain staff and other large fixed expenses that are associated with having local staff and brick and mortar offices.
Franchised brokerages hire recruiters and managers, who's number one job is to grow the company, by recruiting agents.
eXp Realty doesn't hire recruiters. eXp leadership chose to empower the real estate agents to help grow the company. When an agent sponsors another agent to join eXp Realty, eXp shares the revenue generated by the sponsored agent with the sponsoring agent. If you would like a detailed explanation of the revenue share program, Click Here to contact us now.
eXp Realty has eliminated the regional and local offices, and uses a meta verse called eXp World, which is it's cloud based campus. This massive annual savings allows eXp Realty to provide two very valuable and unique benefits to its real estate agents: 1) Each agent can acquire EXPI stock ownership as certain sales thresholds are met. 2) eXp agents can earn ongoing residual income if they attract productive agents to eXp Realty.