Here's a question that comes up from time to time. Many new agents getting started with eXp Realty or those considering like to ask, "What does eXp Realty stand for?" There's actually no official answer from our founder Glenn Sanford that I know of. That said, there seems to be a general consensus that's formed from agents talking with leadership and one another.
The unofficial answer is that the three letters E-X-P don’t have any specific meaning at all. However, when you put those three letters together they form some of the most explosive words in the English language. Let’s expand our minds today, as we go a different direction to exploring the more philosophical answer to the question, what does eXp Realty stand for? The best way to describe what we as a brokerage truly stand for is to review our company’s core values. Service, Sustainability, Collaboration, Transparency, Integrity, Innovation, Agile, Fun, and Community.
Service and Sustainability
From the corporate Board of Directors to the executive team and on down the line, eXp Realty leadership and staff have a servant mentality. A shining example of this culture of service can be found by visiting our cloud campus, eXp World.
eXp World is a virtual environment that is staffed Monday - Friday 9 a.m. ET - 8 p.m. ET. An agent can visit eXp world to attend live training, get administrative or transaction support, make accounting changes or inquiries, or even have a meeting with their state’s broker.
Not only will you find helpful and friendly eXp staff in the world, but hundreds and sometimes thousands of agents visit the cloud office daily. Opportunities for meeting new people and building relationships with agents and leaders across the country gives us the chance to be of service to each other. There are countless other examples of eXp Realty’s dedication to service ranging from our agent advisory council to our brokerage’s support of local and national charities.
But our brokerage isn’t only interested in providing exceptional service to our agents and clients today but is focused on building an operation that is sustainable for the future and contributes to society in meaningful ways. As one of the first cloud-based agent-owned brokerages, eXp Realty is pioneering new and efficient technologies, organizational models and business tools. What does eXp Realty stand for? We stand for our agents!
Collaboration and Transparency
These two values go hand in hand, so let’s explore them together. It’s counterintuitive to think that a cloud-based brokerage could build a highly collaborative and transparent culture, but that is exactly what has happened. The fact that we are all agent-owners at eXp realty creates a will and desire across our agent base to all work for the same common goal. If an agent in one part of the country is successful and helps grow the company, that success directly impacts the future opportunities for every other agent in the company.
Tools like Facebook Workplace, our proprietary Enterprise Dashboard, and our eXp university provide real-time collaboration opportunities and thousands of our agents take advantage of those opportunities every month. Referrals across states and cities take place every day. And we along with corporate leadership can see everything that is happening in our business thanks to our transaction and accounting teams.
Simply log into the enterprise dashboard and track your transactions in process, your commission details, your equity ownership, and eXp Realty revenue share profiles and more. Powerful technology, well-organized systems, attention to detail and a dose of organizational psychology is eXp Realty’s powerful recipe for driving collaboration and transparency across an international organization made up of 10,000 plus unique individuals.
The quality of being honest and having strong moral principles is the google definition of integrity. Integrity is at the core of everything that eXp Realty stands for. Start by examining our commission split and fee structure. The most important thing about our commission and fees is that they are ALWAYS the same for every single agent regardless of experience or production level.
Another example is our real-time support and training. eXp Realty’s value proposition to agents is built upon a new paradigm, real-time support, and training for all agents. What more could an agent ask for than 15 hours of live training per week, office hours for state brokers and 200+ company staff members available in our cloud office to serve us when we need it?
Innovation and Agile
eXp Realty is an innovator on many fronts. One great example is our belief in scalable lead generation technology. Most agents know that the lifeblood of our industry is generating real estate leads. There is one major difference between successful agents living their dream lifestyle and those living on the real estate roller coaster. It boils down to the agent's ability to consistently generate leads.
We all know that referrals and sphere of influence leads take the team and can be unpredictable. eXp Realty has invested in a partnership with one of the best lead generation platforms out there, kvCORE. This tool is included with the $50 monthly tech fee and can be used to generate hundreds of real estate leads. It sounds too good to be true, but the tool is available and the training is accessible. There is no excuse for not having consistent leads at eXp.
Having these tools available today provides eXp Realty agents with a significant advantage in today’s real estate market? But what about the future? Being rooted in technology, having no burdensome leases allows eXp Realty to be one of the most agile players in the game. Our brokerage can adapt to market shifts and withstand any changes that disrupt the industry. Can yours? When I think about not just what does eXp Realty stand for but what can it withstand, my answer is, just about anything the market can throw at it.
Fun and Community
A phrase that gets exclaimed by many eXp agents is that eXp is making real estate fun again. This business is grueling. For most agents, making it through the first two years of real estate is a win. But in order to consistently bring the effort and provide the service necessary to be great, we have to love what we do and who we do it with. Our collaborative community of agents that support each other from across the continent and being a part of one of the fastest growing brokerages in real estate history make this journey an absolute blast!
In conclusion, you’ll have to track down our founder, Glenn Sanford someday and ask him, what does eXp Realty stand for? But for us and the thousands of other agents across the country, we’re lucky that eXp Realty is built upon and conducts business according to some amazing core values.