As good as Exp Realty is, they are not immune to agent turnover. In fact, agents will continue to leave Exp Realty some for the same reasons that agents leave most brokerages and some reasons more specific to Exp Realty. So here are the reasons why Exp Realty agents end up leaving.
- Commission split: this is easily the biggest factor why most agents switch brokerages. After some time, agents feel they deserve to keep more of the commission than the firm. There are many brokerages out there that let agents keep more of their commission than Exp Realty. However, I believe agents need to evaluate the commission split compared with the value and support that agents receive in return from the firm. If the firm is providing an agent with valuable tools, resources, training, and support for their business then it is only right that the firm deserves their share. The honest reason why many experienced agents choose to join Exp Realty is that they have an abundance mindset. Meaning realizing that there is only so much business they can do by themself, but if they partner with Exp Realty, they are now able to expand the reach of their business to all 50 states and 20+ countries. In addition, they are able to build additional sources of income through revenue share and stocks, setting them up to actually be able to retire as an agent. If you’re a newer agent especially, my advice is don’t be so focused on how much you keep vs how much you’re learning. Because in the beginning, the more you learn, the more you can earn in the future.
- Lack of support: one of the most common reasons I hear why agents decide to leave Exp Realty is because of a lack of support. I’ve heard agents complain about how they joined a certain sponsor and then after they joined Exp Realty, that was the last contact they ever had with that sponsor. Before joining Exp Realty, agents need to realize that it is an extremely important decision who you choose to be your sponsor at Exp Realty. Because once that sponsor is selected it can’t be changed. At the basic level, a sponsor’s role is to refer agents to join Exp Realty. It is up to the sponsor, if they want to provide additional value to the agent after that point or not. Some sponsors do provide amazing value to agents to join them such as help with growing the agent’s business through mentoring, specialized training in marketing, branding, content creation, lead generation, weekly live mastermind group training, and just being there to support the agent’s success. Because the agent’s success is also the sponsor’s success. So to have an alignment of interest is key here. It is very very important to pick the right sponsor when joining Exp Realty. Unfortunately, some agents don’t do the proper preparation and they end up choosing to join the wrong sponsor. Which then they end up quickly leaving Exp Realty after only a short time.
- Technology or lack adaptability to technology. Another complaint that I’ve heard is that Exp Realty has too much technology from Exp World, KvCore, Skyslope, and the list goes on. It can be easily overwhelming to agents that join Exp Realty. Especially if they are not very tech-savvy. However, don’t let this deter you. There is monthly live training on each of these software, an entire library of on-demand video training as well, an IT department, support staff at your state office, your broker, and your sponsor. In addition, here’s a tip: if you’re afraid of being in the virtual metaverse world, you actually don’t ever have to use Exp World. After my first month of onboarding with Exp Realty, I have not been to Exp World ever.
- No physical office: another common complaint from agents that leave Exp Realty. These are the people who require working in an office setting and miss the interactions and socializing with others. They can’t handle working from home on their own. If this is you, then you might want to find a sponsor who actually has a physical office for their group or see if another Exp Realty group has an office in your area and ask if you can use it as well. Just because Exp Realty itself doesn’t have physical offices, it doesn’t necessarily mean agents can’t or shouldn’t have a physical Exp Realty office.
- Personal relationship: Agents build strong working relationships with other agents. If their agent BFF leaves Exp Realty, then they might follow behind as well. This can be common for most brokerages having turnover especially when agents leave in large groups, other agents will start to see the writing on the walls.
- Culture: Still a very important factor when choosing to be a part of a company, sponsor, or team. There has to be an alignment and match in values as well as an environment that promotes growth and support. If the agent finds that the culture doesn’t match what they need, then there’s a disconnect and the agent never fully buys in and may choose to leave as soon as a better option comes along.
- Market conditions: the agent business is a tough business to succeed in. Not only do you have to be competent at the basics of being a real estate agent, but now you have to learn how to run your own business, be your own marketing department to generate leads, and then convert the leads to sales. In addition, you have to learn how to be an expert in your local real estate market and how to adapt when market cycles come. If a market shift comes, and you falter in any of these areas, your business could be done. The reality is when the market shifts, many agent businesses fail with it.
These are the top reasons why agents have cited why they leave Exp Realty. If you have any questions or comments, leave them below or send me a message!