For many real estate agents, the typical career path is to work as an agent, get experience, get their broker license, become a broker, and then open up their own brokerage. That’s great and all but that is the traditional old-school way of leveling up yourself for the opportunity to earn more money. In today’s modern real estate world getting a broker license is no longer a requirement to grow or even build your real estate business.
Why do I say this? Well to understand, let’s first examine what it actually means to be a broker. Well, it is a higher level license/certification than a real estate agent. Meaning brokers have more advanced training and education that allows them the ability to open their own brokerage, and make their own brokerage rules, but while still having to comply with all the guidelines set by the government and realtor associations. In addition, they are allowed to manage agents under them at their brokerage. This in turn gives brokers an opportunity to create more income for themselves by having agents who produce income for them through a commission split and or fees. Since they have their own brokerage, they set the commission splits and fees between themselves and their agents.
Awesome, right? So what’s the catch? Well, the first one is it requires more education, courses, another state exam, and our favorite continuing education. Not so bad, it totally doable. Second, having agents under you as a broker means you are their managing broker. And the buck stops with you! Having your own brokerage and managing other agents under you means you have now automatically inherited extreme ownership. You are now in charge of reviewing every single one of their transactions and it’s your brokerage’s license and reputation on the line when these agents go out and do business under your brokerage’s name. In other words, when they screw up or do dishonest/shady/gray area business, the blame and liability falls all on you! For every agent under you, their mistakes or failures are now yours. Third, as a broker your main purpose should be to help the agents who join you develop, grow, and become successful. You don’t want to be that broker that continues to be a producing broker where you are actually competing locally with your own agents for the same business. This can create friction and cause agents to leave your brokerage if you keep getting all the best leads and they only get the scraps. So you might be thinking now, that being a broker isn’t all that attractive anymore. Don’t get me wrong, it’s not because I don’t want to help others, it’s because I don’t want to be the one stuck with all the duties, responsibilities, and liabilities that come with it.
What if I told you there was a way for you to essentially create your own brokerage, within a brokerage? This allows you to partner with other agents, create additional income for yourself, and all the while have no managing duties, responsibilities, or liabilities for those agents’ actions. You might think that’s too good to be true. But in fact, this is exactly what is available under the Exp Realty brokerage model. Exp Realty gives you as an agent the ability to build a partnership of agents under yourself and Exp Realty. You provide these agents with value through training, mentorship, and support to help them grow their business. When your agent partners SUCCEED, you SUCCEED! You will be rewarded a small percentage of every sale, just like a broker would be. Except without the need to wear the managing broker hat, review all of their transactions, and liability for their mistakes because Exp Realty already has managing brokers in place. In addition, you don’t have to take any additional courses, licensing exams, or continuing education. Opening your own brokerage comes with many legal red tape, regulations, and expectations. In addition, Exp Realty is one brokerage under all 50 states 20+ countries, and US territories. This means you can partner with agents who are licensed in any of the areas in which Exp Realty operates. This expands your agent business’s reach to go beyond anything you could ever do by yourself. There is no need to reinvent the wheel, go through all the legal paperwork back and forth, and set up your brokerage to operate in all of these locations.
For these reasons, following the traditional agent career path is now obsolete. In fact, there are so many highly successful independent brokerages that are closing shop and bringing their business to Exp Realty. This is because they see the value in what joining a rocket ship like Exp Realty can provide for their business. They are now able to focus on what they excel at, real estate, and leave the majority of the business operations side to Exp Realty. If you have any further questions for me, please leave them below in the comments and I will get back to you.