Why Real Estate Agents Love eXp Realty by Brent Gove
Watch as Brent Gove, team leader out of Sacramento, California discusses the eXp Realty business model in front of a room packed full of real estate agents.Brent discusses eXp Realty's four main disrupters including Kunversion & CINC, weekly live training, revenue sharing, and stock ownership.eXp Realty is the fastest growing real estate brokerage in the US and Canada. eXp is in all 50 states and 3 Canadian provinces.
Well, welcome my name is Brent Gove. I'm excited to be here. And I'm going to share with you the little bit about the eXp story, the background, what it's all about.
And but before I dive into what everyone's all excited about why this room is packed, and why this is happening across North America, I'm going to give you a kind of a brief background on me. I promise to be brief. But you know, I started real estate 22 years ago, I was 30 years old, little quick math. You know, I'm 52 spent my first 12 years at REMAX loved it. Keller Williams started working on me in 2000. By 2009, I was really open minded to something different, right? Was anybody open minded in the middle of the crash to something different like selling popsicles, or delivering pizzas or enough, not the things they got that bad that I had to consider Keller Williams, but I went on to become a team leader for them.
They said I could keep my team and they pay me hundreds of thousands of dollars. sounded kind of good in 2009 so I, I did that and worked for Keller Williams for eight years. Loved it even more. I know REMAX like this is the worst idea of Keller Williams there is a terrible idea. They were wrong for me just my story. It was night and day difference. It was way better. And so here was at Keller Williams, fast forward a year and a half ago.
We're now we're doing our hundred plus million a year like we did 118 million last year, we probably do 125 million this year. And I'm happy not going anywhere like never ever leaving Keller Williams what could possibly be better? I didn't get a call from mine. from a friend of mine Sheila fares run out of Dallas and she says hey, Brent, how are you? Good. She was Hey, real quick and be heard of this new brokerage that's just setting North America on fire eXp. I'm like, nope.
And I immediately thought there's no broker if I haven't heard of it, right. I mean, really, and it's so not that I'm a big deal. But you know, if they were setting North America on fire, I would have heard about it and so She said, Well, I want to send you a short webinar that brilliantly explains what it's all about. And she was polite and professional.
So I was polite professional back, like many of you who came to this lunch, okay, oh, come to the lunch and see this eXp craziness is about and, and I watched this knowing one thing that I knew that I knew that I knew that I would not be interested. If I was going to pat on the head, send her back to Dallas and say have fun with the eXp thing. I'm at the greatest company on Earth, Keller Williams. And so I wasn't kind of happy.
I didn't tolerate Keller Williams that would i would say I was in love with Keller Williams. So I watch this. 45 minutes later, I walk out of my office, my corner office at Keller Williams the big one I built out the whole building five times the size of this and I ran the whole thing. And I put my hand on my head I thought oh my gosh. I've seen something that is night and day different. Not better. Just night and day different a complete different concept from Keller Williams. I didn't think was possible.
So, what is the big deal about eXp what is all the excitement? Well, huge part of diseases, these two words right there, Agent owned for 22 years I told people buy a house, don't rent a house for 20 or 30 years and be left with nothing. Buy a house have some equity have something to show for it if your whole life right then we knew that. And then what do we do we work for REMAX. We work for century 21 and Better Homes in Keller Williams, a great company but we work for other people's companies.
Dave Lineker, own REMAX, nobody owns REMAX, he became a billionaire. Gary Keller owns Keller Williams, nobody owns it. The people little franchise is trying to make a profit. But the agents we just sold our tails up. And so this this way that eXp achieved agent ownership. I'm gonna explain that today. A rising tide raises all ships. So here is the brainchild the genius the Gary Keller of the eXp the Dave Lineker of the year. speed and his name is Glenn Sanford. He's our founder and CEO.
Glenn was on the inner group of inner circle of people that mastermind with Keller Williams and he was the real core group for Keller Williams, on technology and the future. He's got a background with Microsoft and Bill Gates out of Washington, Bellingham Washington. He was a stockbroker and his unique background by 2009. He saw the problem with most big companies where their giant leases, right anybody have a big office in the in the crash. And when you're when your monthly lease is 5060 7080 90,000 a month just to pay for the building. And it's a ball and chain.
So he because he's a tech guy, guess what if we built like the Uber of real estate, the Amazon the Netflix of real estate, the Airbnb of real estate, the Google us the tech company, and so he comes up this whole idea of eXp. Well, fast forward, how'd it work? He came up with four pillars number one is education because we were kind of birthed out of Keller Williams we're a bit like educational snobs. Right? We love to sharpen the axe. And so we have five to 10 classes a day in the cloud. I'll talk about that there's four pillars. Number two lead generation.
I was at REMAX for 20 years and Keller Williams for 12 and Keller Williams for eight never got a lead for me their company and ESP because we're not paying for the I love this building. We're not paying for the brick and mortar. Okay. We actually help with lead generation we can start getting 100 200 leads a month to every agents phone, and I'll talk about how we achieve that. Number three is five different stock awards. You're going to actually acquire stock for doing things you're already doing.
My first 18 months I've been here 1818 months ago I was you sitting alone in my office looking at that. And I since then I've acquired 34,000 shares compared to 20 years of nothing. Okay, so I love the stock words I've done a lot for this company and they brought me in, they will do the same for you all the same awards.
I got you can get And finally number four they share the revenue because they're not paying for the building to heat and cool ensure ensure filled with computers and staff like well don't we need these things? Of course we do. And we have a agreement with reaches corporate suites. Many of us already have offices, I had to move out of Keller Williams, I had three four, my team of 18 agents, 12, buyer specialists and six listing specialists, we all moved out.
And a year later, we're all there's zero attrition, everyone's getting paid. Everyone's getting revenue sharing stock words, they love it. So those are the four pillars again, training leads, stock awards, and revenue share. So let's dive into it. Let's let's get into it. Because we're in a cloud environment at eXp we have no desk fees, there's no building to pay for.
We can work from anywhere, anytime at the click of a button. We cut back on the overhead of brick and mortar costs and we invest in support and technology and lead generation of the agent you go to the office and go to class. It's nice to teach them for classes like this at my KW as big as this room, not this room, but about size of this packed out. And we talked about how to get leads and people take copious notes and they leave and do nothing.
And the 80/20 rule, right and 20% would do something and eXp we're going to turn your phone on just go bam, bam, bam, 100% of agents are going to get leads, and we will increase your productivity and we'll show you how we do it. live training. What do you mean the live? Well? It's a There's our campus. It's avatars you think? No way. Let me talk to you about technology. Do you think technology is going to get bigger or smaller in our lifetime? The Millennials are underway.
I have six kids. If I talked to my 14 year old he immediately Google's it or goes to his phone or does whatever right? And we are the cutting edge. What do you mean by that? Well, we have over 200 full time staff in there. You can go into accounting, you can go into agent services like a concierge. Yes. We have agent services. There's like 18 people in there waiting hand and foot when you walk in, they greet you. brokerage services, human resources, marketing department, technology department.
They're like the Geek Squad, they all have glasses. You go, how do you help agents to the expendable? Essentially, you break it, we fix it. We take over your laptop, fix it, give it back to you. It is so cool. So when you go in here last Monday, I actually taught a class in the tech auditorium, there about 100 people there which looked very similar to that. And I stepped the front of the class. I've sold over 4000 homes with my team in the last 22 years.
And I taught them about real estate. They're taking notes, they can raise their hands, ask questions, get everyone's names is the coolest thing. You forget you're in a virtual environment in about five seconds. It sounds like this looks like that the information is the same luxury marketing, how to build a team, how to hire your first assistant, SEO, farming, every topic you can think of.
Now, let's talk about lead generation. How do we do it? Well we have two companies we work with kvCORE Commission's Inc kvCORE purchased a company called Kunversion and Kunversion is my favorite company in the world Commission's Inc second favorite and interesting enough, you can go all go get these companies right now you ever wonder how people sell 100 homes a year 300 homes a year 900 homes a year eight I know people sell 1800 homes a year 900 homes a year.
They do it with tools that are like bulldozers, agents have have spades like gardening right? They have 234 510 clients, that's like spades. How would you like to have some bulldozer products and equal brand I don't want to sell 300 homes a year happy to just sell 30 and pick and choose your clients GIFs so many clients you pick and choose your clients and here's how you know we're going to you can't put a little heavier head that client We are your little internal clocks like don't take them right.
Like no she he is gonna be a nightmare but your other voices goes, but it's $900,000 and 3% of that or, or if you're a listing agent listed at 16 offer out two and a half, three and a half percent of $900,000 is a lot of dough Ray me for my family like I can put up with it and then you get halfway through that transaction like I made a deal with the devil. Right?
How would you like to be able to say no, thank you, no thank you and then have more choices. Agents don't have enough choices. And so we're going to teach you how to do that. Now, conversion to KV core is the thousand dollars to get on the open market and 600 a month, and you will spend about $6,000 your first year with Katie core, you can all go get it right now you don't have to be with the eXp Commission's Inc is no startup fee, but it's $1,600 a month to have it not to own it. It's a mortgage payment.
And you just rent it and it's $19,000 a year and if you don't like it after three months, you're in a contract to spend 19 grants could all go have it go start. Six of my agents on the brink of team in Sacramento, California had Commission's Inc at 1600 a month, I didn't pay for it. They did. And they loved it. Here put it on my credit card. Why? Because they're getting buyer and seller leads like crazy. Now eXp went to these companies and signed a contract with them in a deal.
They could 10,000 of those platforms and 10,000 of those. When you order 10,000 of anything, you get a what's called economies of scale discount right? Now you go get one you're paying $19,000 try to negotiate with them, they won't budge. So I don't know what eXp pays for these platforms, but they make them available to every eXp agent for $50 a month.
The overhead of an eXp agent. Our technology fee is $50 a month. Now what you get for that is sky slope. If you're familiar with sky slope, you get conversion or Commission's Inc. You get a G sweet Google suite of tools and you get a Regis corporate Weak membership which is worth a ton of money, and there are thousands of resources around the country. There's other companies that compete with them but we can go into any Regis use their internet, their Wi Fi their drink the coffee, the tea, meet with clients in their conference rooms, copy scan, you know what you pay for that? Nothing.
Now if you went to a huge conference room that holds 40, you might pay 60, 70, 80 bucks. Depends upon where you are. If you're in San Francisco 500 right. But the conference rooms they usually give them to you no charge. I've never met many times. I've never paid a dime. Okay, so you could do business, we have locations to do business. Now. Let's keep going. We have again, enterprises, the back office, it's like a CFO report. For CFO it tells you how many sales you have where they are in process.
Are they green light to close are you going to get paid it close it eXp when we use sky slope when the files complete, they check it and they send an email to the attorney that you're closing with. In California we used title and escrow companies They send the green light. And when it records here's your check. You get like you paid 60 seconds after recording about you for 20 years that check went to REMAX for 12 and Keller Williams for a bubble around the accounting department popped out 234 days later, right?
I love getting paid at close of escrow. So it's really cool. Let's keep going. Now, how do we make you an owner eXp it's pretty simple. We have what they call our moniker EXPI follow the growth of our stock. It used to be like 20 cents a share, and everyone laughed at us. We like 400 agents, may I don't blame them. And then it was $1 a share. And then it was two then three year and a half ago was $3 and 70 cents a share. And the owner of Northern California, Hawaii, the region called me the company I used to be a part of and he says Brent, please don't go because they're not used to losing their top agents.
And I'm like, Well, I'm gonna go I gotta try this eXp thing. I think it's going to work but doesn't I'll be back in half a year. I literally said uh, that's my was my big And if you're wondering, I'm trying for half a year what am I got to lose? Right? And so, he is buddy, I googled it, they offer stock. It's an OTC stock. It's over the counter stock. It's a penny stock. It's worthless.
It's garbage. I'm Tony and two years of be worth nothing but he was passionate. And I liked this guy. I believe he had my best interest. I sincerely believe he was sincere. Hey, want to want to lose one of his star players. You know when you're the Golden State Warriors and you lose I mean, you're you're they don't want to lose him. So he was finding every reason for me not to go.
I said well deck. I didn't leave our company for the eXp because of the stock. It's the icing on the cake. You're about to see the best part, revenue share. It wasn't the training. I love training, a very learning base. We believe in empowering the agent, the broker to go to the next level. It wasn't the leads because I'm already selling hundreds of homes every year. I understand lead generation. It wasn't a stock like it. This is cool. But I'm going for the revenue share, but Siddiq. Let's say your Right, let's say the stock goes to zero and two years ago, by the way, where you get your data, your facts from me as well.
I just know what I'm like, but definitely come on. How do you that's a big statement. So your stock will be worth nothing. He said, just know it my gut. I know what my gut and I'm like, okay, he knows it from his gut data coming from gut. All right. Fair enough. And he's a good guy. I'm not mocking him. It may seem like it but but here's the deal. I said dick, if the stock goes to zero, what am I in this? What do you mean? What are you I go, if the stock goes to zero, what am i is i can understand the question. I said, I'm a REMAX agent. I'm a Keller Williams agent. I'm a century 21 agent. I'm a better homes agent. They offer no stock awards.
If I stay at my old company, like you're begging me to stay. I'm already at zero. If the eXp thing works, it's just an upside here. Does that make sense to everyone? So here's how it works. Remember, I said you're going to get stock for doing things you're already doing? Well, the first closing of the year anybody close your first sale. This year, you get 50 shares of stock. I've done that for 22 years except the last two years. I got 50 shares. So I nice closing, not a big deal. It's 17 bucks to share.
What's that worth? Anybody? What 850 get the math guy right here at 850. So I get $150 worth of stock right now from those awards. And so when you close your first deal, you become a shareholder, an agent owner. Now people will see you with the EXP ego, hey, what's all that about? Does It Really Work like that? Look around the room. It's so watch this when people join you, every time they join you and they say, Well, why are you with the XP? Well, I'm here because of AJ.
Then you get 100 shares of stock. If 10 people join the eXp, you get 1000 shares of stock, which is currently worth over $17,000 if the price is trading at today. What if you told 20 or 30 at Keller Williams I loved it. I referred over 50 people to Keller Williams in eight years, and we got some profit sharing I'm vested I get about $576 a month. After eight years, and that's great, I'm grateful for it. It is what it is. That's my story. But so here's the deal, you get 100 shares of stock when you cap we have a cap in XP, the cap is 16,000 a year. Our split is at 20. So everybody's not if you're brand new, you're on at 20.
If you're a veteran, you're on an 80/20 I'm on an 8020 if you're brand new here, you're on a 20 there's no franchise fee, no 6% fee, okay, so remember that and when you cap at 16,000 paid and you go to 100% commission split, so i cap every year in a year and a half. It's pretty cool. I mean, a month and a half year and a half every year and five years now. So so when you cap they go, here's another hundred shares of stock in our company making you a bigger agent owner, and thank you for capping, and that's worth about 1700 bucks at our current price for trading today. We subtract that from 16. What's the cap really about 14 three, and then also you get the 50 shares for your first sale which is currently valued at around eight 15 said, so that's around 13.
Five is what our true cap is if you're going to cap if that makes sense. Now, let's keep going. What happens if you cap and do 20? sales? What's your average price in Charlotte? Anybody? To 75? Okay, so probably anywhere from 10 to 12 to 14 sales depends on the price of the home you sell, you're going to cap around here. Is that a fair statement? I'm doing some quick math in my head. So if you cap and you do like I do that really quick, because of course I do a lot.
It may take you four or five, six months to do 10, 12, 14 sales. But if you are a producer and you're you're a guy or a gal who sells 30, 35 homes a year, we have an icon program. Would you agree agents who sell 30 or 35 homes a year or 50 or 100 or two or 300 or iconic? People know them, we all agree. So if you cap and do 20 sales at once you go to 100% there's a 250 flat fee that kicks in for 20 once you complete 20 Beautiful Things happen one they get rid of the 250 fees and drop into 75 bucks. pretty competitive.
Number two, they return your cap to you in the phone which stock you get $16,000 of stock in our company. So I'm like okay i cap now in Sacramento, it takes me about eight sales to cap and our price which is like 350. It's about eight sales to cap bam. And then if you do 20 more, that means you're selling about 28 homes a year in the Bay Area in San Francisco, their average price is 1.3 million takes to sales to cap pretty much in the Bay Area. And then they do 20 more so they do 22 sales.
So depends upon your sales prices, how quick you can get the Icon Award, but I saw this like you a year and a half ago I go I could do that. And I did it and last spring I got that $16,000 stock award at about 370 a share is 17 to share where it's trading at today is multiplied times 454 we'll just say for so we're going to take the 16,000 times for because I couldn't cash it said the tricky little reinvesting which we borrowed from Keller Williams, by the way, they have three year vesting for profit sharing.
It's actually quite an ingenious retention tool. And so I couldn't now I had a guy say well that's the trick. It's just a dumb stock award. You know what it'll be worth it. It's true. It may not be worth a lot in the future. We don't know. But here's the deal. He was I'd rather have a check and I know me if I got that check last spring for 16 grand out of this something really intelligent like go to Tahiti, right by a hot springs spa you know, I mean, put it off the master bedroom I got one down by the pool I probably you know by my 18 year old daughter that red Jeep convertible she wants bad ideas is cute and every guy in town know now but I probably would have been a sucker and done and done some really intelligent but because eXp is responsible and put strings attached, here it is. You can cash it in three years.
It's a sat there. And now it's worth what's four times that anybody good 64,000 plus. So what did I pay to be the eXp? Well, not all of the You're going to do that, okay. But you may talk to someone who does, it'll motivate them to join, which will pay huge revenue share dividends, and we'll talk about that next. Finally, we have our agent equity program like Employee Benefits Program. And since we're not employees or agents, they allow you to use 5% of your of your commission up to five, you can do two or three. And the purchase stock at a 20% discount, hardly noticed it bought stock all year last year, and I purchased $46,000 worth of stock.
And now it's, you know, that's where it's gone really well, to say the least. Now we're going to conclude with this. We're going to conclude with this we're going to talk about revenue share the fourth pillar, and this is why the room is packed. We love the training. We believe in training five to 10 classes a day. I've never seen any company do that. Not even my beloved KW that I came out of five to 10 you missed the business planning class at two because you showing property. It's recorded and uploaded to the cloud.
You can watch it at nine with a glass of, you know, Gatorade, I don't know whatever it is you Do at nine. Okay. Bill already talks about drinking beer. So I thought in the Gator right now. So here's the deal whatever it is you do at nine o'clock tea, whatever. So you can still get educated you get the leads, we have the stock orgs. But watch this revenue shares where it's at again, well, who's going to copy the model of many of the big brands Will someone will copy us but we've got a nine year Head Start. Here's how it works. If you personally tell someone about eXp and they join the company, here the $16,000 cap, there it is.
They break it up into bite sized rewards, and they share it with the agents. The first reward is 20 hundred dollars. So 16,000 gets paid to the company. And if you told them and they cap you get 20 $800 Is that good or bad? Is that a little bit? What if you told 10 people about eXp could you I mean, here's what I did for 20 years I acquired buyers and sellers and built the team acquired buyers and sellers and built a team acquired sell buyers and sellers and built a team rinse wash and repeat and in 2005 I earned 3.8 million and became the number one REMAX agent California to 10,000.
But it ain't 2005 any more and I don't make 3.8 million anymore right time you only paid for the homes you sell this year. That's great. You set records last year You better work you heard bill, you better go kill yourself to sell 65 one I'm still 65 I just sell 25 or 20 or 30. Okay good. It doesn't really matter. But watch this. You have to do it. My parents retired from real estate as top top Coldwell Banker agents 35 years at one company they retired. It's 77 and 79. They paid off their homes, they pay off their rentals. They did all right.
They're in good shape Social Security, but they work their whole life. Let me show you a way to do something amazing. If you told 10 people about the eXp and they cap which means they sell 10 1214 homes a year. You get 2800 and agent times 10 which is how much 28,000 year outside of sales. If you say Did and that's all you did 10 years now. And you put that in the bank every year because you get it every year there with the company. And if they stay with the company, they're getting stock rewards and reasons to stay with the company.
You'd have 280,000 in the bank, not a bad deal. If Coldwell Banker had this program, which they don't, but my dad remembers the guy said, Hey, Jim, Jim, go my dad. You should check out Coldwell Banker and 35 years I was actually he retired three years ago. 38 years ago. He went to Coldwell Banker in Sacramento in a suburb called Pharaohs interview with the manager joined the company and didn't leave stayed 35 years as long and foster down here.
You know people been there 10 1520 years 30 years REMAX people stay at companies. So had Coldwell Banker had this program. The guy who told my dad about Coldwell Banker 38 years ago for 35 years because my dad did they were top three or four in the office out of 7080 agents is a Coldwell Banker office. He might that guy would have gotten 20 hundred a year for 35 years. It's like selling a house and getting paid for years and years and years, but they gotta stay with the company.
We had 1400 agents a year and a half ago. I go, this is gonna work. Today we have over 10,000 question for you. If 1400 agents can become 10,000 and a year and a half, what are 10,000 agents going to do in the next year and a half? I personally think we'll have about 30 to 40,000 agents. Now here's what everybody doesn't see coming. Here it is what Coldwell Banker sent you 21 Better Homes long and foster but my beloved Cowboys, what they don't see common. It's about 20,000 or the 40 are really, really excited about this. See, I was a Keller Williams team leader. I did really well I spent personal time with Gary Keller.
I recruited 177 agents in one year in 2009. I was super excited about Keller. I mean I was pumped got to be in there out front magazine, get to have a special article. It was it was good blowing up my ego You know what? I'm 10 times more excited about this and I was excited about that. So here's the deal. You take companies like Coldwell Banker and REMAX and Better Homes in century one and Kelvin's.
They have seven 800. office managers and my background at Keller they call them team leaders who are focused on building or recruiting or building in a year and a half will have about 20,000. That's what nobody sees coming, and that 20,000 will turn into 100,000. And then, here's the deal. Why is this a big deal? There are 206 countries worldwide. There are 25 million agents and brokers worldwide. There will be 2 million eXp agents worldwide it may take us 10 or 15 years to get there.
But Coldwell Banker got their REMAX got there and they're selling franchises and people are signing the leases and spending 50 to 100 they did it. We just call someone in France. We just call someone Mexico City or can Could we call friend in Australia in Manila and they in the Bay Area who are licensed in Manila, and we just boom, we're there because we're cloud based. This is how Amazon put Macy's out of business. Macy's close 250 stores this year, along with JC Penney and Sears those three big Barnes borders.
I love borders, books gone. Barnes and Nobles can't get the books out of their showroom, one of the show for right now. The 10,000 travel agents gone. Technology is coming, man. Don't think of Charlotte, think of the world. The world is your oyster, you know, people in other cities. How does that work? I knew a guy named Cliff Freeman, a real estate coach in Dallas. One of his students was AJ, right here, AJ and Addy. And he called AJ said, Hey, AJ, you know, check out the eXp thing. AJ calls Shelley and Craig which I don't know where they are Shelly and Craig, and he was Hey, you ought to check out this thing. And they call bill price who called Rich Tomasini, and does it really work like that? Oh yeah. I saw 60 people enrolled 60 people because I was super excited about I got tons of stock 34,000 shares.
I got half a million dollars sitting there and that little baby not counting wondering revenue share. And guess what they told people who told people I remember thinking my first year if I have 100 agents, man, that'd be pretty cool. So here's how it works. If you tell five agents they unlock level two revenue sharing. This is how Keller Williams has paid their agents profit share for 30 years, 25 to 30 years, we copied their distribution system.
It's not patented, and we use it to distribute revenue. Every agent at level two is where 3200 year in Region level three is where 2000 year, but you have to refer 10 agents eXp. Now they're all turning in sales, creating revenue to be shared at eXp level four or five, six and seven. And then it goes in increments of five agents when you get to 25 agents from you referred you get paid on all six levels of revenue sharing. You get over 40 you get 4000 PR agent I referred over 40 and eight months.
My eighth month I think I sold enough homes personally. After my expenses I netted $160,000 that was not normal for me. In fact, that was my best month ever in real estate. It didn't happen at REMAX and I loved REMAX. It didn't happen at Keller Williams and I love Keller Williams it happened to eXp a company nobody had ever heard of the consumers well what about the brand it's you baby it's not the brand if you're worried about the brand you get a self go read a Dale Carnegie book or something from Tony Robbins okay. My gosh, I need the brand you do not need the brand okay.
So and and I broke all my smashed all my sales records. I personally closed four deals last month, which isn't a lot, but a few listings in the last couple weeks. It's all you know, I'm doing real estate. I'm a real estate agent. But here's the deal for 20 years, I acquired buyers, and about three years ago I quit working with buyers all together. I got all those buyers agents that I'm done working with buyers, man Hey, like, do you sell up in Washington DC? You know, do what's like five hours from here?
I got lucky, you know? And you're like, Well, yeah, I could but no, I was still here in Charlotte right? And and the buyers will run you all over take you from Little League Soccer. So I'm like, done, I leverage, give it all to my agents. And then I became I acquired listings, and I built my team. But I just finally did a fourth thing. I started building a company 100 years ago, there were agents like this in America. And we only know two of them today. Because all of them work with buyers work with sellers, but only two did something unique. They built a company. You all know every one of you know, one guy's last thing was called wealth. The other one was banker. And not that you want to be known 100 years from now, but you need to think about the treadmill like the Jetsons.
You know it gets going to quickly. That's like what he got emotional. Because Have you ever left soccer practice? Have you ever left Little League Have you been on the phone during the soccer game the whole time. And don't tell me you have it because you're lying your face off, okay? And then you have that come to Jesus moment with yourself. You take the phone and throw it in the glove box and go, I gotta be present for my kids. They're not going to grow up without me. And so guess what, man, my life has changed a lot.
These guys bill gets emotional if you do the work. So watch this. So here's just one little analogy of what could happen. If you tell 10 people and they copy that 20,120 and they cap that'd be 56,000 a year outside of sales. Okay, does that do anything towards your retirement? What if you just told 10 who cap and you get that 28 But then one of those 10 goes out and does what you did tells 10 me This is how Gary Keller was just him. And that was 186. It was just a Coldwell Banker and now they have 100,000 agents was just Dave Lineker, and he's got 100,000 we tell people we have friends look around this room.
And if this room does not represent Charlotte, this room represents Canada and the US and we're going to open next Co we're going to open in Australia and New Zealand. We're going to open in the Philippines. It's all coming. And you will grow International. It's not Charlotte is no longer your oyster. The world is those relationships, those family members who haven't different parts of the country, you can call them and offer them this I called Cliff in Dallas. He called AJ in Charlotte, North Carolina and Abby, people call people so let's say one of the 10 do but you didn't told 10 those 10 would not be on your level one they'd be on level two every agent level twos were 30 $200 a year revenue share from eXp to you.
So if they have 10 Oh, cap, what do you get a year for those agents on level two? Anybody? 32,000 right, simple math. What if three of your 10 did that? So it'd be like 3232 and 32. It'd be like 96,000 a year? Uh huh. Plus, you're 28 now you're the hundred and 20,000 year. What does that work? I told 60 not 10 we are special. No, I wouldn't did the work? Well, yeah, but you're extremely good dresser. I know. You all can be a good dressing okay I understand that you're not flashy like me you don't look as good as I look I get that well you're you're extremely good looking right i mean i mean obviously people like oh he's so good looking and I realize some you have some uphill battle obstacles okay? And I'm sorry you're not as beautiful as I am now.
But the thing is I picked up the phone since this you do you have a CRM or see what is it a contact management? CMS? I didn't know what to call it. Yes, I have a yellow notepad so I had to use Facebook or I know I pick up the phone. What's your name? army. Army. That's a cool name. obby Where you from? Right here obby that's like Australia or something. Hey, army are you doing so? I call army How are you? Hey, good. He busy in chat for a minute go. Hey, have you heard of the eXp yet? No. What's that? You share it with them and it just takes off. So what's my story? I'll tell you my story and we'll wrap it up.
I thought I could see doing some of those, and then they tell some and it's pretty cool. And then you need to 40 and we get paid on all those levels. We had 20 agents on level seven and half of them cap 1010 times 4000 agents, how much 40,000 year just from that level, not counting these different levels. This is how Keller Williams pays their agents, but they do profit sharing, okay. They're a real estate company that shares profits. eXp is a real estate company that shares revenue.
That is the big difference. So for me, I thought I'm going to try this. And I got in October 21 2016 and signed up, I think 12 agents in two weeks and they turned in some sales. I got my first revenue share check. Now used to be a team leader here. My first check was $3 and 87 cents or 12 bucks or $80. My first check is the revenue check was 1900 dollars. Okay, but it's only there. 10 days. Next month of November, they're all month we turn in sales, we tell some more agents. My next check was $5,000. And that story doesn't exist that a lot of places it exists here. It's normal here.
And then the next month in December, we told more agents turned in more sales. And my next check was $10,000. By third month they start earning 10,000 a month revenue share 102 is that going to change anyone's life? So I told my wife I said, Honey, I eXp things crazy. It keeps doubling every month. I think we're going to make $20,000 six month outside of real estate sales. Okay. Thanks. She was okay though. The month came and I make $10,000. I remember being disappointed that my fourth month at eXp Kelly made $10,000 and I'm like, jeez, what's the deal? Do you know why that happened?
I have no idea now. But I'm like, wow, okay. carried away with this doubling thing. But I'm telling you that everyone's so excited. And I go I think next month it'll be 15 which is crazy growing 50% in a month, not a year 50% two years, phenomenal. 50% a month. And the next month, I said you watch paid 15 it wasn't it was $25,000 my fifth month or 20. I've never made less than 25. The, let's just save a lot, lot, lot more now. Okay, that was a long time ago. You give me an example of how it grows people yc my first year I had 18 agents, I thought, Well, I'll tell 10 or 15, maybe 20. And hopefully through the year I have 100. And hopefully that'll make me about 100,000 year revenue share. And if it goes really well I'll have two or 300.
Well, 13 months later we hit 1000 which was last December. And and Wow. So I can say it was I've never tripled my big goals. I don't hit my big goals. I tripled my big goals. So today Is may 16 two days ago we hit 2000 plus agents. It took us 13 months to get to 1000 and and that's not me. Not me. You guys have never seen me before. Right? They talk about me I'm like the Easter Bunny you know, he's really good looking and he dresses Good. Now, way to medium and if you saw my video I was in sandals golfing and sandals you know, I know I'm a nerd now. But nap was fun place to golf and sandals.
So here's the deal. So now we're at 2000 Now fast forward the the regional vice president for REMAX when I left Keller Williams and that was the number one agent the state of California when he heard I left them with the speeds like EX what he called me up his buddy meet me for lunch anywhere in town about you any wherever you the best steak. Let's go, Mike Okay, James will meet and so I meet with James and he's like come on back to REMAX it and Mike what do you do next? He goes EXY I've never even heard of it. I saw I mean, they're nothing there were 1400 agents in all North America. And and I said, Well, I'm going to try it you good luck with that? And I said, I think it's gonna work.
Do you how many agents that REMAX agents are in Northern California? About 1700? He's been at it since 1995. It is now 2018. Do the math. What is that? 23 years. I have more agents than he has in 23 years and 18 months. It's the model it is not me. As I demonstrated earlier, he has 57 eight offices to support those agents. He has little tiny offices for little niches of people 57 I don't have a single office other than the linemen and I paid 1900 a month for my office. It's big I could put 15 people in there just me and James we like room now. So coating with this Here is the its international collaboration.
I have agents in Alaska, Honolulu, Hawaii Maui throughout Canada 40 states 200 major markets if I was at my old company, so yeah, I've got an expansion team. We're in 200 major markets in 40 states. I would be the number one guy that company. Have you heard of that story? their big star, big star, and it was a guy named Jeff Glover. And I liked Jeff He's amazing. He's got 56 agents, you know, and he had 18 months ago, about the same I had a team Jeff was way bigger than me. I'm only doing 100 millionaire Jeff this 300 millionaire lot of the my friends in this room know who Jeff Glover is. Jeff Glover today still does 300 million a year. I do billions. Billions. I added a billion with three agents in February. What do you mean three agents. guy named Kyle whistle join 220 million year in sales guy named Daniel beers joined 180 million year and married her last name.
Maloney she did half a billion she joined those three agents joined in one week. almost a billion dollars that week. They're just three of the 2000. Craig you guys see what how much she is doing sales here roughly 78 roughly 78.3 million. I mean 65 sales a year. What did you see in this list was opportunity to not have to work so hard. You've been at this for how many years? Bill? 1313 years rich. How about you how many years? Your baby 12 years. You know what? Also the person sitting next to you wants to do is help you. We are linking arms and we're taking advantage of relationship capital. You have friends around the country, you pay no attention to him. You're so focused on the Charlotte market.
I was in Sacramento I was prices. 350 my friends in the Bay Area two and a half hours away. They sell homes, a lot of them to to 5 million. They sell like 18 homes a year and make over a million dollars a year. Anybody here sell 18 homes a year to make over a million dollars a year. They have second homes in Tahoe overlooking the water. They're doing really well. I was kind of jealous of that right? You ever meet people like Oh man, I do 70 homes a year here in Charlotte. If I was in this market, I would I would do so much better. eXp allows you to be in those markets. So it's super cool. Join the company everyone's talking about trends. The Amazon a real estate eXp wave eXp realty name the best place to work by glass door 2018.
Market Watch eXp accelerates already sniffing growth throughout North America. So on the home split there it is 8020 split the cap is 16,000 once you cap it says to 50 deal for 20 after you complete 20 drops to $75 a deal. startup costs $99 to pay that a year and a half ago. $50 month tech fee once a year. You're out of your first sale, we take $420 for university educational fee, that pays for five to 10 classes a day, five days a week, all year long. For 20 a year. Now remember, you also get 50 shares of stock. And in today's value 17 Plus it's about $850 with the stock so you get almost what you get double.
So it's not a wash, it's way more than a wash in your favor. $25 broker review fee $30 per sale, you know, Lloyds of London deductibles 2500 just like any company, Canadian startup costs a little bit more because of the the way that the dollar trades. There's our growth. This is 10,000 agents here was us in 2013 1415 1617 18. And in a year and a half, you're gonna watch this go to at least 30,000 plus so there's 10 there's 20, there's 30. I mean, it's it's going to be amazing, and we're not going to open an office. We're not going to open an office, we're not going to hire any secretaries to work the front door.
We're not gonna hire any phone systems copy systems, janitorial systems, heating and air conditioning insurance, tea ice remodeling, team leaders, OPS, all those costs won't exist. We share the money with you the revenue with you. Who My gosh. So finally core values. We got them in buckets. We're the company we're no longer.
We used to call it like the three in San Diego. They said we were frenemies. Friendly competitors, right. frenemies. We have friends, not your group. Like I see a guy with billboards all over this place. Mark Spain. he's a he's a nice guy here. But he's in front of me. You're competing with him. You're going to go up against this team on listings. What if you linked arms with Mark Spain and other people Craig and Shelli well, they'll work with you.
Craig and Shelli have a beautiful office. You can come meet them. They will train you they will help you. That's really cool. And So bottom line is eXp is doing some amazing stuff through collaboration. final slide. We're done. Here it is. What's your next step? Because I'm an agent owner with the eXp talk to your sponsor. That's the person who brought you here and ask more questions do your due diligence I will tell you this as a Keller Williams agent, I sent this out eight times.
I sent it to friends I cared about around the country and said stop me from jumping off a cliff because I'm leaving a company I love I'm passionate about Keller Williams. I was never going to leave it I was actually pretty doggone irritated at the eXp thing because I never thought I would leave Keller and I said to eight people I said I need you to evaluate this and tell me why I shouldn't leave the company that I love. I didn't like it. And they said okay, buddy, calm down.
We'll do it. six of the eight signed up immediately left Coldwell Banker left REMAX sold franchises left Keller Williams six of the eight, the seventh one had just merged with other companies. I can't I just merge my 50 agents with a huge company in Phoenix. He joined me two months ago now it's 120 agents in two months. And the eighth one was a Keller Williams team leader who moved out of his office this week and it took 18 months.
He finally came Because when he just couldn't believe what was happening, and he his first official day with eXp was yesterday he's a famous trainer for my old company at the highest possible levels you can have and he's now at eXp. We are seeing this from Better Homes from century 21 from Coldwell Banker from better you know, all Berkshire Hathaway it's all happening. So what's your next step? Apply it join.exprealty.com it's a two minute application.
And it's important you do that because a year and a half ago you could join us in 48 hours that's about what it took to onboard with the eXp now it's three to four weeks What do you mean three to four weeks? Why is it three to four weeks? Cuz so many people are joining throughout North America the process everybody we check out everyone's license. It's three to four weeks with starts that car ticket is this you apply it. If you apply it's two minutes we do not contact your broker is private between unique but if you do it tonight, nobody will know joined at HP realty com. It's going to ask you who your sponsor is.
That's who invited Here, they will send you back a 40 page document written by the attorneys at EXV. that talks about all the stock awards, all the caps, all the fees, all the everything you could do and can't do 40 pages and deals. This is the this, read it with a yellow highlighter. And that's how you do due diligence. Once you sign in, send it back. The whole process takes three or four weeks what the mistake agents make is they do their due diligence for 234 weeks.
So Greg, Okay, I'm ready to come. I got two or three listings. I'm taken. Right if you offers me the eXp, we can't because if you didn't do this, it's another three to four weeks, start that clock ticking and at least apply tonight. do due diligence. It's been great being with you.