The real estate industry’s transformation is creating a bevy of new business models that cater to specific concerns within the industry, mostly for buyers and sellers. But what about the agent experience? What are these new brands doing that enhances the broker’s ability to manage multiple agents and to create a business that generates wealth for more people? How are these new brokerage models — complete with iBuyer tools, virtual workplaces, and more technology — enhancing or creating opportunities for different teams looking for different things?

These are some of the questions — difficult ones, nonetheless — that Nick Good had to ask himself when he was looking to transform his business for his 10-member team — The Good Home Team.

While Good landed at eXp, he has some wisdom to share about his search, about what this particular business model offers his agents, and how he’s looking to the future.

When you were looking for a new home for your team, what were some things that were must-haves?

Nick Good: The decision to leave Keller Williams was a tough one since I had built my career there, and had been with them since 2007.  The No. 1 must-have was that it would allow greater opportunity for my agents to increase their income.  At eXp, their model allows for my agents to participate in performance and growth incentives, like revenue share and stock rewards, that are unlike any other company offering out there.  

The revenue share is an opportunity for agents to earn revenue off of agents that they introduce or “sponsor” into eXp and they keep earning the revenue for as long as that agent stays with eXp.  Next is the opportunity for our agents to earn stock shares. Because eXp is a publicly-traded company and eXp offers an opportunity for our agents to contribute 5 percent of their GCI to purchase the stock at a 20 percent discount, and they can also earn stock rewards when they make their first sale, and when they introduce new agents into eXp.  This stock opportunity gives our agents another option/tool to have for financial security.

The second must-have is who we are in alignment.  With eXp, you need to join under a sponsor, and I view that sponsorship as a mentorship opportunity for myself and my team, so that is we decided to align ourselves with Jay Kinder’s network. 

Jay was the No. 2 agent in all of Coldwell Banker a few years ago and being lucky enough to partner with Jay and his network allows our agents to get more coaching and training through Jay’s national coaching program, National Association of Expert Advisor program.  This coaching program alone will help our agents become even better real estate consultants to their clients.   

What are some unique or interesting opportunities that eXp offers your team that you couldn’t find elsewhere?

Nick Good: The revenue share and stock rewards are a huge opportunity and the fact that all the agents in the brokerage are sharing everything that is working in their business.  No one is holding back the “secret sauce.”  The other cool things are that eXp is cloud-based and has a virtual campus platform, which allows you to log on from anywhere you have an internet connection.   You can attend top training events and get all the support help you need without having to fly out to a training convention or have to get in your car to drive into the office to get support help. Definitely has made us more efficient on that part.

A lot of agents and teams are shopping around right now, looking for new brokerage homes. What are some words of advice that you have for them? 

Nick Good: I would say to figure out truly what you are needing in a brokerage and to write that list down when doing your research.  Are you looking at a new brokerage to get support, training, or opportunity to increase your earnings?  Don’t get caught up in the shiny objects, and focus on what you are truly needing in order to help your business grow.  

Workplace culture and professional support are a big deal for some teams and agents. What does eXp offer in that regard?

Nick Good: We already have an amazing culture at The Good Home Team, but I will say, that when we made the official announcement I was blown away by the number of eXp agents that had personally reached out to us, either through Facebook Messenger, Facebook workplace, and through call/text to welcome us and to see if we needed help with getting acquainted. I can see just by that how well the culture is within the eXp world.

Technology is allowing agents to do more from their phones and has made some transactions faster than ever. How is eXp harnessing technology to serve their agents and teams?

Nick Good: This is a great question— first is that eXp owns VirBela, which is the tech company that created the virtual world campus that allows all the agents and staff to work remotely, which is great.  Plus, eXp also offers the KV Core platform, which is their lead generation, website, and CRM package for free to all agents, as well as Skyslope, which is their super-easy-to-learn transaction management platform. 

This tech platform they have allows us to be more efficient by not having to go into the brokerage’s physical office space if we are needing support — I can be on vacation and be able to go into the virtual world and get everything handled.