The 5 Step Process to Attract Agents to eXp Realty | KyleHandy.com

The 5 Step Process to Attract Agents to eXp Realty

In today’s post I share the 5-step process to attract agents to eXp Realty. Here is the audio from my podcast, Agent Attractors.

To follow along, here are the 5-steps:

  • Step 1: Initiate Contact
  • Step 2: Build a relationship and earn trust.
  • Step 3: Share value and be excited
  • Step 4: Find out if they are open-minded to see a presentation
  • Step 5: Expose to the model via video, lunch and learn, or webinar.

*Bonus step* – Follow up, follow up, follow up – This is seriously where the results are. If you do every step above but don’t follow up you are wasting your time!

If you prefer to watch the episode, check out the video here:

Here’s the full transcript from today’s episode:

Kirtus Dixon:

I think a good way to start, Kyle, because of some of the questions that are in the chat about how to do things is sort of to just run through the overview of the simple process for agent attraction once again. How does it start? You have somebody you want to talk to, the first thing you think when you’re trying to attract your first agent or your first couple of agents, is you think you need to tell them something. That’s the first thing you think. Is that true? Is that the right approach? If not, what is the right approach? Let’s start there and then we can dive into some more specifics.

Kyle Handy:

Awesome, awesome. Well, I mean, as far as the approach goes, I think, I forget who said this term, it might’ve been Jonathan. But it’s so true, guys, that agent attraction, it’s a process, it’s not an event. I think you have to go into it with that in your mindset. I actually just had a call with somebody yesterday. I wished I would’ve said that. I didn’t think to say that until after. But they were asking questions about how do you do this? What’s the best thing? It’s like, there is no one thing that necessarily works for every single agent. It’s just a bunch of different events that lead up to what’s eventually going to take place of you attracting that person.

Kyle Handy:

Everybody is a little bit different, but I think the process is all the same. It’s all built around relationship. It’s built around doing this with multiple people. You don’t want to have all of your eggs in one single basket. But having multiple relationships that you’re starting to build with agents all over the country, all over your marketplace, it doesn’t matter.

Kyle Handy:

But the bottom line is, you want to start doing things like going to coffees. You want to start inviting agents. Even not just to talk about eXp, but just start furthering that relationship with an agent. If it’s not somebody local to you then, hey, get them on Zoom. Start to really try and meet them. Start to interact with their social media stuff. If they do videos, comment and like those videos. You need to start making videos so they can see who you are. That’s all-around building relationships with people.

Kyle Handy:

It’s easy to do it in person if you’re a face-to-face kind of person. If you’re not, then you got to get creative. But at the end of the day, the whole thing of this boils around getting a relationship with somebody. Getting them to get trust inside of you. Then building value for them. Showing them that you’re going to improve their business. You’re going to give them additional opportunities that they wouldn’t have otherwise. That’s what it’s around.

Kyle Handy:

The Xs and the Os are only important with eXp, the splits and all that stuff. Once you’ve already built up enough value and you’ve built up enough trust in yourself to actually explain the Xs and Os to that person. Until they feel that you’re trustworthy and you’re somebody that’s going to help them in their business, all the other stuff won’t really matter. You might tell them it, but they’re not going to really be hearing it.

Kyle Handy:

I think that it’s, again, it does take a while. I think that’s why people sometimes get burnt out or think they can’t do this. With eXp agent attraction is the fact that it takes multiple conversations. You got to wait for the right opportunity sometimes. You can’t just force things upon people when they’re not ready. There’s people that I’ve been working with for two years since I’ve been at eXp that still aren’t here. But little by little they’re more receptive. Or little by little I put one extra thing into it that gets into their mind that wasn’t there before.

Kyle Handy:

I think you almost have to look at it like that, that you’re goal is not to explain the entire eXp process and get somebody to join on any particular phone call with any particular person. It’s to give them one extra nugget every single time that we do reach out to them or talk to them. You got to be strategic about it. Think about that person, learn about their business, learn about who they are, and figure out what that most important nugget that you can give to that person at that time is that might make an impact.

Kyle Handy:

Then when they’re ready, and they’re ready to take the next step, then it just depends on, well, hey, what step is next? Should I send them to a video? Should I invite them to a lunch and learn? Should I invite them on a call with Kyle and Kirtus or with my sponsor or somebody in my organization? You got to think based on that relationship that you have with them, what’s the next step for them that your goal is? Your goal is never just get them to join on the spot, it’s to get them to that next step. I think as you do this more and more, you start to learn it a little bit better about what that next thing is for them.

Kyle Handy:

But again, it all boils down to always constantly providing value, and always constantly making new relationships. Don’t just settle on the relationships you have now. Those are great, but continually make it a goal every week that you’re going to build two more relationships with agents you don’t know already. That’s putting the coal in the fire. You’ve got to constantly be doing that. Anyways, I don’t know if that’s what you were looking for, Kirtus, but I’ll [crosstalk 00:05:39]

Kirtus Dixon:

It is, man. I think that it’s such an important reminder. When we used to do these calls on Thursdays for our team, I felt like we could become a broken record. But because we have such diversity on these calls, of experienced agents and people who didn’t make it last week, people who are making it this week, I just think it’s so important to kick off these calls, and kick off their week with the right mindset. The mindset has to be, like Kyle said, the mindset is not to get them to jump over. That mindset doesn’t work. They can smell it, and feel it, and taste it. It’s not positive.

Kirtus Dixon:

The mindset is always, can I add value to their business and their life? That’s the mindset. How can I help them? Well, if you don’t know anything about them, how can you help them? The reason I wanted to start there is because Trent asked a question that we’ve all asked. “I have a brokerage I want to try to bring over. What can I say and what really attracts them?” And then Tim asked a question, Tim Power asked a question, “When is the best time to mention eXp to an agent on the other side of a real estate deal? What is the best way to introduce them to eXp at that point?”

Kirtus Dixon:

I think starting with that process, Kyle, starts to give us a framework for answering both of those questions, and many questions related to timing and process. That’s where I wanted to sort of set the stage for whether you attracted one agent or 25, it’s always, always about them. It’s always about what would be helpful to them and their business?

Kirtus Dixon:

If you don’t know about them and their business, you don’t know what would be helpful to them and their business. Because eXp has a lot of ways to help and impact agents’ lives. Very, very many ways. But until you understand their life and their business, you can’t recommend or be excited or share anything of value until you know. The first step in the process, just to reiterate, it is this simple. Make initial contact with the agent and learn about them. That’s the simple step, Trent.

Kirtus Dixon:

To answer your question, Trent, is how do I expose the brokerage to the eXp model? Make initial contact with your friends and learn about them. “Hey, good, how are you? How’s your business?” “I’m in real estate.” “I wanted to hear all about you. Can we have coffee so we can learn about you? So we can talk about you and your business.” That’s the first step, period.

Kirtus Dixon:

Well, Tim, if you’re already in a deal with an agent, you’ve already made that initial contact. But, have you learned about them? Have you called to ask them how their week is going? How their business is going? If they work buyers or sellers, primarily? What brokerage they’re at? Learning about their business, their biggest challenges, their biggest hurdles. In process step number one, make initial contact and learn about them and who they are, there’s different scripts. There’s different tips, different strategies, tactics. We can dive in and go deep there, if that’s an area you guys want to go into. Step one.

Kirtus Dixon:

Well, let’s go onto step two. Step two is really important, as well. After you make that initial contact, step two is you have to build a relationship and earn trust. As Kyle said, trust earning is also a process. It’s not a one-time event. Because I called you today and met you doesn’t mean you trust me yet. Because I followed up tomorrow, doesn’t mean you trust me yet.

Kirtus Dixon:

Now, we all know that different personality types might sync up faster. Maybe I could build trust with you in a 25-minute phone call. Maybe we sync up because our kids go to the same school and you know a friend that I know, automatically, you trust me now. Cool. That allows us to move through step two much quicker. But for some people, for many relationships, just as Kyle said, and Tim’s not even said because he knows this, it might take a year for you to build trust with an agent you just met today.

Kirtus Dixon:

They might not have any reason to trust you yet. I guarantee you if they’ve heard about eXp, in the back of their minds, somewhere, they’re skeptical. And they’re thinking, “This guy just wants to recruit me.” That’s what they think, unfortunately, out there. You have to get through that barrier by building that trust by actually making the relationship about them and by adding value to them.

Kirtus Dixon:

Then the next step, and this one I love because you can do this, you can interject this and you should, always, anywhere in this process. You can interject this in the first 60 seconds of making initial contact. You can interject this while you’re trying to build relationships and trust. But this next one is super important. You need to either share excitement, or share value throughout this journey. You have to. If you’re not excited, why the hell would they be excited? If you’re not providing something valuable, why are they wasting their time talking to you?

Kirtus Dixon:

It’s one of those two things. I always want excitement. If you call me, I’m an I. If you’re fired up to talk to me, I’m fired up to talk to you. What are we talking about? Let’s go. Or, Kyle, he’s a D. If you’re bringing him something of value and you’re like, “Hey, man, I wanted to talk to you about something that could be really impactful.” He’s listening because he wants maximum impact. That’s step three. Share excitement or value.

Kirtus Dixon:

Step four, and this is going to answer your question, Tim, and this hopefully will answer your question a little bit more, Trent. This is really, really important. The sooner you can do this and the more often you can do this, the more likely you are to get the chance to add people to your organization and impact their lives. You need to find out if they’re open-minded to learning more about an opportunity that would help them.

Kirtus Dixon:

To summarize that, find out if they’re open-minded, that’s long, lengthy, wordy. Find out if they’re ready. We’ve heard all these examples, you guys might not have heard them so we’re sharing them for the first time. We’ve heard examples for a really long time of trying to determine if somebody’s gate of change is open. Literally, picture a gate, here’s a gate. This is open, this is closed.

Kirtus Dixon:

A gate is required to be open for somebody to make change. They have to walk through it. The gate has to be opened for them to walk through. What you’re looking for at any and every point in the process, is to find out if their gate is open. Because if their gate is closed then you will absolutely be wasting time and damaging your relationship if you’re trying to present or expose them to the eXp Realty opportunity.

Kirtus Dixon:

If their gate is open, that’s your time. That is step four. Again, you can be doing step four throughout the process. You might accidentally try to find out in the first two minutes of talking to somebody whether or not their gate is open. Guess what? Once in a while it will be, right there, two minutes in. Now you have a big opportunity to actually bring them through the rest of the process.

Kirtus Dixon:

But what you also might find, we know this is true, right, Coco? You’ll talk to a bunch of people, their gate is not open. It doesn’t matter what you’ve got. It doesn’t matter what eXp has to offer. Their gate is not open. They’re not looking for this. Let it go and enjoy your coffee with them. Enjoy your lunch with them and just hang out with them. Get to know them. Refer back to steps one through three. Share excitement, build value, build relationships, build trust. That’s number four.

Kirtus Dixon:

Then number five, the next step after you find out their gate is open, is expose them to the model. That’s the next step. Then that’s probably where more questions come flooding in for everybody is how do I expose them to the model if I’ve never done it before, or it I’ve done it a couple times but I don’t know how to do it again, how do I expose them?

Kirtus Dixon:

There are a couple of ways. You always want to try and start with the easiest way or the way that fits them best. Invite them to watch a presentation. That’s the easiest way. Just invite them to watch your presentation. That’s how you expose them to the model. Where you invite them is to the Tuesday webinar tonight at five, the link is in the chat. Register at tuesdayexecutiveoverview.com. You invite them to watch a video. To me that’s the backup case most of the time because you’d rather them watch a live presentation. But you invite them to watch a video. That’s the second.

Kirtus Dixon:

Here’s an interesting distinction about inviting them to watch a video because we’ve all done this. At least we’ve had a lot of experience sending out videos. What we know is, once you send a video out into the ether, you don’t really have any knowledge or control of if they’re going to watch that video, how much have they watched it, what they’re doing while they’re watching it. Do they say they’re watching it but it’s really on their lap while they’re feeding their kids and cooking dinner, or did they actually sit down and watch it?

Kirtus Dixon:

When you send a video out to be watched you immediately lose control to actually expose them and be sure. But if you invite them to watch a video with you, that’s way different. “Hey, Kyle. You want to go to the movies with me?” Or, “Do you want to both watch that movie and then we’ll sync up afterwards?” Which one ensures that he watched that movie? Come watch the movie with me, right?

Kyle Handy:

Yep.

Kirtus Dixon:

Those are the two things you can invite to. Then if you have a live event in your area, that’s the third thing. We do in San Antonio. I know a lot of cities do. If you don’t have one in your city, what’s the closest city that does have one? Or if you don’t have one coming up this month, when is the next one coming up? You might spend a month promoting that, just to get them to that live event, because live events are extremely powerful and they’re emotional. That’s where people decide and make change, at these big, live events. At these presentations, they make big decisions at big events. That’s the third way.

Kirtus Dixon:

Then the harder way is to figure out what they actually need. If you don’t just invite them to something general, but you find out they need to talk to an independent broker/owner like Coco who brought her whole brokerage over. Well, now you have a little bit harder job to do. You need to call Coco, establish trust and build a relationship, make initial contact, establish trust and build a relationship. You need to share your excitement and add some value to Coco’s life as to why she would want to jump in and help you, or be able to help you.

Kirtus Dixon:

Then Coco’s going to get on a call and probably invite them to watch a presentation or share her eXperience and invite them to come watch the video. Because she’s going to follow the same process that we’re laying out here. It might take three or four versions of those first few steps before you finally get them there. Right, Kyle?

Kyle Handy:

Yep.

Kirtus Dixon:

You might get them to be on a three-way phone call but then when we find out they didn’t watch the video, we’re going to invite them to watch the presentation. We’re going to send them back to step four and come back. Then that’s how you get them over, Trent. Tim, back to your timing, it’s when you find out their gate is open. The way you have to figure that out, is you got to ask. You got to do the litmus test.

Kirtus Dixon:

That, I think, is what people shy away from, or what people try to do too early, or what people are afraid of, or what people don’t know how to do. But it is as simple as asking a question. You’re going to want some context for why you’re asking that question. “Kyle, you mentioned on a scale of one to 10, you’re rating your business like a two or three right now. Let me ask you a question? Are you open-minded to hearing about something that could help you get into a seven, eight, nine, or 10?”

Kyle Handy:

Absolutely.

Kirtus Dixon:

If the answer is, “Yes.” “Awesome, man. Hey, let me invite you to join me Tuesday at five.” Boom. You got it right there. The timing is always about when you find out they’re open. Asking the open question is a function of how much relationship and trust you have, or how much value and excitement you built up. That helpful? That start everybody off?

Kyle Handy:

Dude, that was huge, Kirtus. One of the things, too, that I want to share because this actually was a good story from yesterday. One of the calls that I was on, as far as building that trust, building value, and asking questions, getting to know people. I thought this was a good example of something like this. It actually goes to something that, Kirtus, you and I have learned from our great coach, Josh Sigman, it’s to level one, 10, and 100 conversations. You remember that coaching session?

Kyle Handy:

This is something that I constantly think about right now in my business. If you guys are watching, what is a level one, 10, 100 conversation? I’ll tell you. It’s basically, I’ll do it with an example. Yesterday, I was on a call with an agent, an agent in my organization already. They were telling me a scenario of an agent they’re trying to attract. They were like, “Hey, this agent is a heavy producer. They do a lot of business. He’s very skeptical. He knows about eXp already but he’s skeptical. He’s already said …,” and he shared with me one of his text messages.

Kyle Handy:

He’s like, “Look. You know, this is what my plan is. I’m with KW and I’m going to get into commercial and owning some business here that’s going to kick off some residual to me on the commercial side of business.” I think most of us when we hear that, we just think, okay, cool. That’s what he said that’s his goal. That’s a level one conversation. You want to take it to the next step.

Kyle Handy:

You want to say, okay, well, how do I get this to a level 10 conversation? The way that you would do that is you say, “Okay, cool. Well, tell me. Tell me more about that. What would your goal be behind getting that commercial residual income going? What does that look like for you? How much money monthly would you want? Would you need? How soon do you think that you could do that? Do you know somebody already that is doing that? That you’re looking at?”

Kyle Handy:

Then that way you can feel that person out and see is this just a pie in the sky kind of thing that he’s saying? Is there really a plan in place to get him there? What’s his number? Maybe he’s like, “Oh, it’s $15,000 a month.” He shares with you that. “That’s what I want is 15 grand a month. I think that I can do that the next few years. It might take me five, six years to get there because I got to build up X amount of money.”

Kyle Handy:

Then you even take it a step further. “Oh, well, cool. What would that $15,000 a month do for you? What are you passionate about? What are you hoping that by getting that $15,000 a month would do for you or do for your family?” That’s when you get to that level 100 conversation. It might seem like a little prying, and sometimes depending on who you’re talking to, you might have to interject your own story just to show them that you’re open to sharing about yourself. You’re not just prying onto them. Be prepared to answer those same questions about yourself.

Kyle Handy:

But that’s what you’re doing. You’re building a relationship. You’re furthering that relationship. You’re starting to gain trust with that person by opening up. By asking good questions. Then now you’re at a level 100 conversation. When you’re getting into their why behind what makes them tick. “Well, you know, we really love vacations. We want to start traveling more.” That’s where you want to get them to. Maybe they say, “Well, you know, our kids are going to college soon.” Now you really know what is the whole motivation behind that. Whereas most people, we would just stop at, oh, okay, well, this guy wants to do this in commercial. Then we don’t know where else to take that conversation.

Kyle Handy:

But the reason why I say that because then once you start to learn that information, you can say, “Well, hey, it sounds like a good plan but why don’t I just share with you something, because it doesn’t sound like you might have somebody that has done it that you are friends with or whatever. But I’ve actually got somebody that I’m really good friends with. At eXp, he’s built a revenue organization that’s paid him $50,000 a month. He’s done that in four years and before that he was just a real estate agent for two years. It wasn’t like he was some massive team leader like you are. He wasn’t a broker, owner, or anything. He was just a real estate agent. Then in four years, he’s built that. Imagine what you could do if you just understood what this is about.”

Kyle Handy:

That’s your in. Once you know it, then you know something, then you can interject and give a solution. If at that point it’s, “Aw, no. That’s still just BS.” Well then you definitely know their gate is closed. But if he’s like, “Well, I mean, that’s kind of interesting.” Well, hey, maybe you just found a little opening of that gate. I think, I just wanted to share that with you guys. Because just take that scenario and just whatever you’re in, if you don’t know where to go with somebody, it always starts around asking more questions, asking better questions. Getting deeper into that relationship with that person and finding that in with them. Go ahead, Kirtus.

Kirtus Dixon:

Dude, that’s huge. Carmen, are you on the call? Carmen [Setter 00:21:10]? If you are, unmute real quick. I got a question for you.

Carmen:

Yeah, I am.

Kirtus Dixon:

Brittany is not on the call, right?

Carmen:

Not to my knowledge, no.

Kirtus Dixon:

What made Brittany cry last night? What do you think?

Carmen:

The thought of hurting her broker or upsetting them or not, just hurting that relationship.

Kirtus Dixon:

So Brittany’s an agent that Carmen’s been talking to for a long time. She really wants to come to eXp. She’s struggling with the decision, with making the leap. She has young kids. She’s on a 40% commission split, 40 to her. But she’s crying because she doesn’t want to leave her broker. But we hadn’t gotten to that level one conversation. We had asked, and she had said, “I don’t want to leave my broker.” But she was crying about how she’s not making enough money, but she’s still putting in the time and energy. She doesn’t want to leave them high and dry because they’ve been in her life for 10 years. All this real stuff.

Kirtus Dixon:

I don’t know if Brittany’s coming or not tomorrow or this week, but I know we got the conversation to a point where she’s ready to figure it out. She’s ready to make a decision. She’s going to make some big changes or she’s going to stay put and close her gate again. But either way, somehow, it opened last night. Kyle, I thought that was awesome. Good, good stuff to share. Does anybody else have any experiences to share around those kinds of conversations? Or how to get them again if you can’t get them? Or when they come about or anything like that? Anybody want to contribute on the conversation piece or any of the process stuff we went through?

Kyle Handy:

[Walgren 00:22:43] on the call, good to see you [crosstalk 00:22:45] I love it. Well, cool. Well, I think we can maybe shift gears. I do want to get to some of these questions that were maybe asked earlier, as well, Kirtus, just going into. I think I saw a question from Mark. Let me see here. “Do you know exactly what percentage of a downline agent we get per transaction?” That’s an important thing, guys. We want to know that. Honestly, it is confusing because I think just when you see the slide deck, it just shows you the maximum amount in a dollar figure.

Kyle Handy:

But we all know that we don’t get paid the maximum amount unless that person caps at one deal. You get a percentage of each transaction until they get to that amount. It’s good to know those percentages. The only place I know where to get that is on your ICA that you sign. For instance, I’ll share with you. I’ll show you my ICA where you can see it. Here’s, what is this, I don’t know, page 15 or something, 13 of my ICA. You’ll see in here a revenue share chart.

Kyle Handy:

I’ve got this actually stored on my phone. I took a screenshot. I just copied this part out. So I know exactly what I get for each level on my different levels. See here, level one. This tells you … So there’s, and people might not even know this part of it. But there’s actually two sides to revenue share that you earn. You earn an expansion share and you earn an exponential share. Exponential share is what you earn when you meet the floor qualifying minimum amount of agents that you need to unlock that level.

Kyle Handy:

The expansion share is what you earn regardless. Some people might not know that. They might … Say you only have three agents personally attracted to your organization. Well, we all know that to unlock level two, you need to have five or more agents personally attracted on your level one to unlock level two. If you only have three, but maybe one of those three agents went out and got somebody else, they got another agent, that agent is now on your level two, you’re not getting the full exponential share on that agent on your level two, until you have five, you can see that number here, personals on your level one.

Kyle Handy:

What you would get at that time is you would get, you would still get something from those agents’ deals that are on your second level, but you get the expansion share, which you can see what that is. It’s 0.2%. That’s this number here. Now, if you have five agents on your first level, and an agent on your second level closes a deal, you get the expansion share and the exponential share. That’s where you get this total share percentage over on the right, 4%.

Kyle Handy:

What you’ll see, just to go over and be thorough about this, level one, there is no expansion share. If they’re your level one, they always qualify. So anybody that you personally attract, you’re always going to receive 3.5% from that agent, every single time that that agent closes a deal up until they cap, you’re going to get 3.5% of that agent.

Kyle Handy:

Now we all know, when we attract an agent, they always are on our level one. We never can say, “Oh, I’m going to attract an agent. I’m sponsoring them. I’m going to put them on my level four.” That doesn’t happen. If they’re naming you as their sponsor, they are your level one agent. You’re always going to get 3.5% of that person’s share.

Kyle Handy:

Now if that person attracts an agent, they go on your level two, that agent … So say I attract Kirtus, Kirtus attracts Coco, Coco is now on my level two. But if I had only recruited Kirtus, and I only have one, I’ll get paid 3.5% on Kirtus’ deals, but I’m only going to get paid 0.2% on Coco’s deals. That’s how that works. Now, once I’ve attracted five agents, so Kirtus, and four more people, then Coco, I’m going to start getting 4% on all of her deals. That’s how that works there, guys.

Kyle Handy:

You see that’s a 3.5, then four, then go on and on all the way down to the seventh level. You’ll see, these are the different floor qualifying amounts of agents you need to have to unlock those different levels. To unlock the full potential of revenue share on level two, you got to have five agents. To unlock the full potential … If you have any level three agents, you need to have 10 on your level one, 10 personally sponsored. That’s not 10 total in your organization, that’s 10 that you’ve personally sponsored to get level three, and so on and so forth. Fifteen, 20, 25, and 40 personally sponsored to unlock level seven.

Kyle Handy:

You want to start to know these percentages. These percentages are what you get. For instance, Kirtus closes a $300,000 house at 3% commission, that’s $9,000. That means, and he’s on my first level, that means the next month I’m getting a check for $315 directly deposited into my account. Coco, in the scenario, say I had just sponsored Kirtus, and Coco closes a $10,000 commission that month, or whatever. But I only have Kirtus, and Coco is on my second level. I’m getting 0.2% of that $10,000 that she closed. Let me just get my calculator here. So you say 10,000 times 0.2% is 20 bucks. That’s all you’re going to get.

Kyle Handy:

If you haven’t unlocked level two, if you only have something, well, you’re still getting something. If you have people on your second, third, fifth, seventh level, you’re still going to get something for them, even if you don’t have all that. You’re just not getting the maximum unless you have the amount of floor qualifiers you need.

Kyle Handy:

As an example, say Coco, I do have five personals now and she closes that same $10,000 deal. I’m now going to get 4% of that. I’m going to multiply that by 4%, oops. I must’ve done something wrong, $10,000 times 4% is $400. It’s a big difference, $20 versus $400. The difference being that I’ve got five people on my first level versus if I only had one to four agents on my first level. You unlock that second level. Now you get the full amount.

Kyle Handy:

You can do that math, all the way down, all through this chart right here. If you haven’t already, take a screenshot of this chart if you need, go back to your ICA, download it, study it, learn it. As you start to earn revenue share, it will make much more sense because you’ll be in there. You’ll be seeing your revenue share. You’ll be understanding what agents are closing deals and why you’re getting what your getting and all that good stuff. But this is it, guys. If you’re wondering how that works, it’s all right here. That was a long-winded answer to that question.

Kirtus Dixon:

No, that was good stuff. I wrote it down. I have actually always wanted to update my wealth chart (silence)

Kyle Handy:

We froze, Kirtus. I think you’ve been having some Wi-Fi issues, man. You’ve been cutting in and out. I don’t know if it’s happening for other people but you definitely have been freezing.

Brent:

Can I say something real quick?

Kyle Handy:

Oh, yeah, love it. What’s up, Brent?

Brent:

I just wanted to give a quick testimonial about agent attraction. It’s very imperative that you concentrate on adding personals. I found out a hard lesson last month. Where I didn’t have enough personals and I built quite a bit organization. I got 325 people. I ran the numbers last month. Since I didn’t have, I had 12 floor qualifiers, I have 22 active sponsored, but only 12 qualified, I lost $3800 last month just by not attracting quality agents. That’s something you want to go after. People that are actively participating, actively selling homes.

Brent:

Newer agents are great, but they’re not going to necessarily qualify. You definitely want to help out your team as it grows, but you definitely want to concentrate on yourself and your personals as you start to grow a team. You definitely want to jump in and help out your team, you feel obligated to do that, but you do want to concentrate on getting personals, as well.

Kyle Handy:

I love it, absolutely, Brent. We’re working, we got to get you some more, man. I felt bad when I saw that. They made that change, what was it February, I think? It was the big changeover, and this will answer your question, Chris, that I just saw you put. “Does the production level matter of the guys/girls on your first tier matter other than, of course, you want your crew to produce, but in terms of simply unlocking the level?”

Kyle Handy:

Yes, that does matter. One of the things, and this had been in our agreement with eXp for, I think, probably the beginning of time. I mean, it was in our ICA for a very long time, that in order for an agent that you attracted to the company to count as a floor qualifying agent, meaning that they’re going to count towards the five, or count towards the 10, or the 15, or whatever that you’re trying to unlock that level, in order for them to count as a floor qualifying agent, they have to have done either two transactions in a six-month time period, in a rolling six-month time period, or a $5,000 in GCI to the company, to eXp. Not to eXp, just the $5,000 GCI that they’ve earned in those six months’ time.

Kyle Handy:

It’s not an and, they don’t have to do two and $5,000, it’s or. So they got to do two transactions or $5,000 in GCI. If they don’t do that in a running six-month time, they still are an agent in your organization, but they are not a floor qualifying agent in your organization. That’s what Brent just said. I think he’s got 22 agents that are agents that are still with eXp, that are in his organization. I think they’re called FLAs, they’re active agents with eXp. But they’re not FLQAs, they’re not floor qualifying active agents with eXp.

Kyle Handy:

The difference being, so what that means is, he’s got 22 agents that are still with eXp, but 10 of them have not done a deal, or a qualifying deal in the last six months. Maybe they’ve done one deal, it wasn’t $5,000 in commission. That’s probably it, or maybe they’ve done no deals. But either way, 12 of them, they have. So 12 of them count towards unlocking, so he’s unlocked his … He’s got his first level, of course, that’s always unlocked. Second level at five is unlocked, his third level at 10 is unlocked because he’s got 12. But he’s missing out on his fourth level because even though he’s got 22, he’s only got 12 that count, so that unlocking fourth level means he needs 15. He doesn’t have 15 right now. He doesn’t have fifth level income, so he doesn’t have 20. And sixth level, he’s missing at 25. Seventh level, he’s missing at 40.

Kyle Handy:

Because of that, he just mentioned, he lost over 4500 bucks in revenue share potentially if those levels were unlocked in his organization. Granted, he’s still doing well, he’s still earning some good revenue share, I will say that, with an organization of 300 plus agents, but you always want to do better. You always want to be unlocking levels. You always want to be going after personal qualifying agents.

Kyle Handy:

Because I will even say in my organization, I’ve got 33 active agents, and 22 are floor qualifying. That’s about a third. If you talk to Brent, you look at his organization, it’s about the same that have not done a transaction in the last six months or a qualifying one. They might’ve done one but they didn’t qualify, it wasn’t enough. So now you want to … But now here’s the thing. Basically, if one of those agents, the 10 that aren’t counting for Brent, or one of my 11 does a deal this month that closes, and it’s over 5,000 in GCI, they’ll pop back up. They’ll now be a floor qualifying agent again.

Kyle Handy:

Just so you know, any time you attract a new agent to the company, they’ve got six months of eligibility for you. If you attract a new agent, they don’t drop off as being floor qualifying until after six months. So no matter what, if you get a new agent and they don’t close a deal for three or four months, they’re still counting as FLQA for you until that six months. That’s how that works. You want to always be getting new agents but-

Brent:

Yeah, that’s what happened. Last month I said I had 12. Then the new month rolled around May 1st, I added one of my agents closed the deal, so it popped back in, came up to 13. Then I just added two new agents this week. I added one Friday and then one yesterday.

Kyle Handy:

Great.

Brent:

So I’m back up to 15, [crosstalk 00:35:48] so I opened up my fourth level, so that added another 86 agents that I’ll get paid the full amount on.

Kyle Handy:

He’s got 86 agents on his fourth level right now, guys. That’s huge. Before, he would still earn, let me just share this, guys, just put a bow on this. He had 86 agents on his fourth level. Before he hit 15, he would still have earned some revenue share, but it would have been much less. It’s 0.1% versus now he gets 1.4%, that’s 14 times higher revenue share that he’s going to get from those agents, now that he’s at 15 FLQAs. That’s a big difference. Anyways, guys, I just that’s a thing. You do want to be looking at that. That’s what you want to go after. You want to just understand how that works. But, cool. Let me go back. I want to stop this here. Does anybody have more questions about, let’s see, make sure.

Patricia:

Hey, Kyle, it’s Patricia.

Kyle Handy:

Hey.

Patricia:

Can I interject something real quick?

Kyle Handy:

Yes, please do.

Patricia:

Hey, one thing I recommend with regards to what we’re talking about is most of the time, obviously, with your personally sponsored agents, you know them. Whereas on a lot of the other tiers, sometimes you don’t know who’s been brought on. I highly recommend looking through, regularly, looking through your list and if you’ve got agents that have fallen off as far as qualifying, because they haven’t closed a transaction or something, I highly recommend reaching out to them regularly. See if there’s anything you can do to help with that. Because if they’re just stuck for some reason or another trying to get a deal closed, trying to convert some leads or something like that, if you can jump in and help them and re-energize them to where they can close a transaction and become a qualifier again, it’s, obviously, beneficial to both you guys.

Kyle Handy:

I love it. I hear that bird in the background, Patricia.

Patricia:

Yeah, he wants to be part of every conversation.

Kyle Handy:

I hear it, I hear it. Absolutely true, guys. That’s one of the things. Just so everybody knows, when we were at our influencers’ event, just last month. I don’t know, probably, some of you all saw that. But I went out there with some of the top agent attractors. We met with Glen and a lot of the leadership. I think one of the things that we’ve been trying to get added into our dashboards is a countdown of how long somebody has since they’ve done their last transaction, so you know how much more eligibility you have on that person.

Kyle Handy:

Because that way you can, again, somebody you see getting down there where they haven’t done a deal in five months, you really want to reach out. You want to reach out all the time but at the same point, it would be good to have that insight into our business knowing pretty soon that person’s going to drop off unless they get a deal or something like that. They are talking about it. I think we’re going to get that worked into it here soon. That will be a little bit of a helpful tool for us. But, yeah, you’re always wanting to help your organization.

Kyle Handy:

Because sometimes, I’ll tell you, at this point, of course, I always want to be adding new agents but I also think it’s a huge push for me to get an agent to be productive. Because what’s harder? To get an agent to do one deal and be now counting again for me? Or for me to go out and have to attract a whole other agent to replace that person if they never get a deal, or if they drop off, or whatever. I think you want to focus your time around those two things. But, yeah, both are very important as far as getting new agents and getting the ones you’ve got, keeping them productive. Awesome. I love it. Let’s see, Kirtus Dixon, you on here Kirtus? I see you’re on. I don’t know if you’re [crosstalk 00:39:19]

Kirtus Dixon:

Sorry, dude. Yeah, I’m back, I’m back.

Kyle Handy:

Cool, cool. Anything I missed there?

Kirtus Dixon:

No, dude, that was awesome stuff.

Kyle Handy:

Okay, cool. Let’s go back and [crosstalk 00:39:28]

Kirtus Dixon:

One thing, actually, yeah, that’s why we’ve got Monday, guys. We’ve been waiting for trying to help, we’ve been looking for a way to try and help people grow their sales and make more sales. If you haven’t made a sale in your last six months or you’re falling off that list, send them to the Monday. We’ll do our best to reinvigorate them and push them, and help them. Take it upon yourself, as well, like Patricia said. That was great advice, to check in with them and help them and see what’s missing in their business. See if you can help. See if eXp Realty can help, or see if something we do can help. I thought that was awesome.

Kyle Handy:

Awesome.

Kirtus Dixon:

Let me get to Bill here real quick. Bill asked, if there was a document. I don’t have a document, Bill. I was actually just looking at my text notes. I keep a text chat (silence) dropped it into the chat if you want to just read through the notes and copy and paste those or write them down. You can zoom in on the chat and take a picture with your cell phone. Nothing more official than that. But when I was reading off the steps of the process, I was just reading off those notes right there.

Kyle Handy:

Kirtus just got it in his head, he’s so good at it at this point, man. Just rattling it out. I love it.

Kirtus Dixon:

I write it down. When you think you know something, if you can write it down, you really do. If you can’t write it down, you don’t. If you can’t put it on a whiteboard or explain it to a little kid, you don’t know it. I was testing myself, and Kyle was going through the steps. I was taking notes. That’s why these kinds of masterminds, in my opinion, are really helpful because Brent knows that process inside and out, but it doesn’t hurt to see it again. Doesn’t hurt to see it clearly. So does Tim, so does Coco, Patricia, Lane. It’s just helpful reminders. Then when you can share it with other people, it helps crystallize for you. Because Kyle and I, we’ve forgotten to put people on three-way phone calls. We’ve forgotten to get them exposed before starting to talk to them. We do all the same things that everybody here does. We’ve just done them more for a longer time, so we can share the pitfalls, too.

Kyle Handy:

Awesome. Trent and I we do want to get to your question. We’ve got a couple minutes left. He had a question earlier. It said, “I have a brokerage I want to try and bring over. What can I say? What really attracts brokerages over? I’m friends with the top dog.” I will say that’s a good thing you’re a friend with the top dog because they are harder. Brokerage owners, they got a lot of ego involved. A lot of times they don’t want to share their true numbers with you. It’s a, I’ll tell you, having a … I had my own brokerage. There’s a lot of agents on this call, actually, that have had their own brokerage in the past.

Kyle Handy:

Most of the time we’re not going to be so forthcoming, especially if we don’t know you very well with how good or bad our brokerage is doing. The fact that you’re friends with that person, you want to take advantage and not sour that by getting too into the weeds right away, but see how open that person is to sharing stuff with you. The one thing I will say, too, if you don’t know all the ins and outs of eXp, especially on the business building side, you got to get help. You got to get help from somebody.

Kyle Handy:

Tell that person, your goal would be to say, “Hey. We’ve got some great business builders at eXp that have rolled their brokerage into eXp. There’s got to be a reason why.” Because I’ll tell you, one thing I think you might say to that person that will give maybe that nugget that will get them curious, is say, “Look, eXp Realty has grown from, even when I joined, 3800 agents to 20,000 agents in two years. The number one person joining are independent brokerages and independent brokerage owners. There’s got to be a reason for it. Now, I’ll tell you, I was an independent brokerage owner before. But I know somebody that was and I’m sure they would share with you why they did, what their brokerage looked like before, how they’re organization looks like now. Can I set that up with you?”

Kyle Handy:

Really, just see if you can get that. Because if you don’t know the ins and outs, it’s going to be pretty tough. I mean, because that person is going to want to know numbers. They’re going to want to see, okay, if I roll everything in, how does that look here? How does it hurt me? How does it help me? That’s some in-depth stuff. Really, the only way you’re going to get that person over is probably to show them it’s better over here financially for them and showing them that the opportunity to grow more is going to be beneficial to them, too.

Kyle Handy:

Getting some big players that have had success on agent attraction and building businesses, I think, will be extremely important for you. You need to just leverage your relationship and be the friend and say, “Hey, look, I want to link two of my friends together. You’re a good friend of mine. Kyle is a good friend of mine. He had a …,” and do that. Use that relationship to do that unless you fit in those shoes before, or you’ve brought on other brokerages and you can talk that talk. Anyways, Kirtus, would you agree with that? Or would you say anything different there?

Kirtus Dixon:

No. That was perfect. No, I thought that was awesome. What about anybody who’s on their own independent on here that would have any other perspective? Ashley knows I’m not looking at her. Come on. They need you, Coco. They need your mastermind.

Coco:

No, I agree with Kyle. For me it was about the money. When you show me how much money I was losing, I was game to figure out the rest. You do have to have a game plan because like they said, it is a lot of ego involved. Most of us, like me, that was my baby that I had grew and so you have to show me something that was a little bit your friend, or a little bit more that would be beneficial to me, as well as the agents in my office and eXp has that. You just have to know how to deliver it.

Kyle Handy:

Absolutely.

Coco:

I was that person.

Kirtus Dixon:

It all starts with them getting familiar with a person, or a story, or something like that, that relates to them. Then, once they see that, then they might be open to hearing the Xs and the Os about really what it means and what it does. But you got to say, “Look, in my story …” I’m happy to share my story. I had a brokerage for four years, and I attracted 15 agents, and I lost money every single month. I had $30,000 in overhead. I had a lot of financial risk. I had a lot of liability risk as far as lawsuits and all that kind of stuff. I joined eXp. I’ve been here for two years. I’ve got 143 agents. I only earn profits. I don’t take any financial risk except for my $50 or $85 a month because eXp provides all the systems and tools. I get paid every single month on the 22nd revenue share, which is all profit to me. There’s nothing coming out of that or anything like that. I think that’s a story. As you start to learn other people, there’s other stories.

Kirtus Dixon:

There’s Jonathan Dupree’s story. He had a big brokerage, over 100 agents. He rolled that into eXp. Find out from him what his story is and maybe link up. There’s all sorts of people. Coco, I know Patricia [Zahr 00:46:17] is on this call. We all have different stories. I think if you can find those people and just link people up, that’s the easy part. That’s like relating this thing to real estate sales. That’s like when I bring a client to a new builder, I’ll let the new builder do all the work. I sit back and I just collect the check when it’s all constructed and done. That’s what you do in this part.

Kirtus Dixon:

If you have somebody that speaks to that person, you get them linked up and we’ll hammer that person home for you because you might not be familiar with it, but we just want to win that person over. We want to share our story with them and, hopefully, then, at that point, once they’re good on the story side and they see the vision, they see the impact, well, now you can help out just by trying to get their questions answered, or you may have to do some digging or research.

Kirtus Dixon:

I’ve got a guy on here that’s about to join, a big brokerage. He’ll ask me questions and I still don’t know the answers to. But what I say is, “Hey, I’ll figure it out. You’re asking some good stuff.” I’m a brokerage owner in the past myself, but he’s still asking questions. You might be that person that you link the person up with somebody they’re familiar with, and then you be helpful to them and that’s your role in the transaction. Getting them over to this side. I think that’s what maybe you might need to do, Trenton. Hope that helped, man.

Kyle Handy
 

Kyle Handy is a real estate agent, team leader, coach, & mentor to real estate agents all over the country. Kyle focuses on social media, tech tools, and system automation to help agents scale their business and create consistency of closings.

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