I know why people often search “Why I Left eXp Realty.”
Agents want to get feedback from other eXp agents’ experiences and avoid the same mistakes.
It’s normal for a real estate brokerage to have agents move in and out of the company.
Agents are contractors, not employees.
And it takes time to find a company that’s an excellent fit for a real estate agent’s business style.
So why are agents leaving?
Everyone who signs up to work with eXp Realty can’t possibly love how things are run there.
Heck, some even ask if eXp is some giant pyramid scheme.
Disclaimer: I greatly respect eXp Realty and what they’re doing.
But yes, I also left (we’ll discuss it in the article).
Okay, let’s understand why agents are leaving eXp Realty…
Why Real Estate Agents Leave eXp Realty
Agents Aren’t Making Enough Money
Money is the first and perhaps most apparent reason some agents leave eXp.
The lack of it, that is.
Many folks working in the real estate industry don’t make enough money.
Every year, agents give up the profession (most new agents quit in the first five years).
All brokerages are affected to the same degree by this problem.
While most real estate companies train their agents, not all are successful.
Each agent has to realize they are, in fact, a business owner.
So, every day should involve company planning, forecasting, budgeting, and effectively executing plans.
At that point, quitting eXp might be their only choice.
Agents Got The Wrong Idea About eXp.
Many agents at eXp Realty are actively recruiting other agents.
They sent them plenty of info on why they should join eXp Realty.
It’s possible that they made real estate sound easy.
The reality is that achieving success as a real estate agent requires a lot of hard work.
An eXp Realty agent might leave the brokerage because of discrepancies between their hopes and efforts.
When joining a new organization, you must know exactly what to expect.
Don’t rush into the decision, or you might get overwhelmed (keep reading…)
Entering eXp Is Overwhelming For Many.
The process of launching a new real estate business is challenging.
I’ve been there. I get it.
There will be an initial learning curve with eXp Realty because of its online-only nature.
Agents used to learning information in an office may find it challenging to learn the new system.
eXp has infinite training.
Education is excellent, but it might be overwhelming (one of the pros and cons of the brokerage).
Many don’t understand how to document their work with Skyslope properly.
Maybe they have trouble locating the daily educational training videos available on eXp.
Maybe they have no idea what to do to join the conversation on eXp World.
It is not very clear to choose the best tools from among all the options available.
They will fail if they are unwilling to adapt to the virtual setting and lack direct interaction with other agents.
Let’s talk about eXp’s business model…
eXp’s Business Model Is Precarious
The revenue share model at eXp Realty has contributed to the company’s expansion, that’s for sure.
eXp revenue-sharing’s model relies on recruiting to unlock the different tiers.
[it’s just one of the seven ways folks can make money at eXp — watch the video below if you’re looking into those…]
But even though there are plenty of ways to make money (as discussed in the video above), some agents will leave the brokerage.
As agents leave eXp, the remaining agents’ revenue share will decrease.
But, if they keep the right attitude, they’ll be fine (keep reading…)
Some Agents Who Join Don’t Have The Proper Attitude or Personality
The most apparent reason why realtors shouldn’t sign up with eXp Realty is their mindset.
If someone lacking in initiative joins eXp Realty, they won’t have success.
I’m not discouraging folks here; I’m simply being frank.
I’d say this is the primary cause of failure for eXp Realty agents.
Being your boss is demanding.
If you choose not to show up to work, no one will call asking where you are.
In business, you need to get 1% better every day and keep improving.
If you decide to sign up with eXp Realty, you’ll have access to various lead-generation resources.
eXp Realty also offers a lead generation service called “Making it Rain,” which you can access if you sign up as a member.
They will manage your Google Ads for a small monthly charge.
They will also direct people to your kvCore website, provided to all eXp Realty agents.
You’re going to learn all these resources.
There’s Money To Be Made Elsewhere
Sales agents may leave their current company for another “better one.”
It’s easy to blame the brokerage if an agent isn’t delivering the results they believe they should.
Agents need to realize that climbing the ranks is a slow but steady process.
Many top-performing agents at eXp Realty have been with the company for years but previously worked at other brokerages.
It’s the agent’s ability that matters more than the brokerage.
A real estate agent at eXp Realty may be tempted to leave the company if they look around and see better opportunities elsewhere.
Like any other organization, they should know that eXp Realty isn’t perfect and is constantly working on getting better.
But ultimately, another brokerage model might make more sense for their real estate business.
The Real Estate Industry Isn’t Changing Fast Enough
Warren Buffett is notorious for his negative views on the cryptocurrency and tech industries.
In a famous quote, he said, “Take Wrigley’s chewing gum; I don’t think the internet is going to affect how people eat gum.”
Huh? He means that we may all acquire things in new ways, but it doesn’t change how we interact with them.
The same goes for real estate.
The demise of Zillow’s iBuyer Program perfectly illustrates my point here.
The company drastically underestimated the importance of real estate brokers in the community.
Changes are on the horizon for how folks search for homes.
Still, buyers will ultimately rely on local real estate agents and brokers.
Local brokerages will also play an essential role for real estate agents.
Agents Chose The Wrong Sponsor
Choosing the right sponsor is crucial!
If you’re an aspiring agent who doesn’t already have an eXp Realty sponsor in mind, the brokerage will pair you with an agent sponsor.
Since any agent at eXp Realty can act as a sponsor, you could be paired with someone you don’t jive with.
While this isn’t automatically bad, some agents may be oblivious to the benefits they could reap.
You can’t expect much assistance in expanding your revenue-sharing network from your eXp sponsor if they have no plans to do so themselves!
It would be best to consider what you can gain from a sponsor you don’t currently have, as every sponsor has something different.
Many eXp agents interested in investing provide their sponsored agents with investment training and coaching.
Others who have mastered social media marketing provide them with the tools, templates, and resources they’ve found most helpful.
There is a higher chance of improving and expanding your business and meeting your goals more quickly if they align with your sponsor.
Plus, changing your sponsor is a tedious endeavor.
There are only two ways to switch your eXp Realty Sponsor.
If you have picked the wrong agent as your sponsor on your eXp onboarding application and realize your error, you can request a change of sponsors.
If this is the case, you can ask to switch sponsors inside eXp before officially joining the company, albeit doing so is not guaranteed.
A second option for agents who want to switch their eXp Realty Sponsor is to leave the firm for six months.
After leaving eXp Realty for six months, if you decide to join another brokerage or let your license lapse, you can sign up with eXp again and choose a different sponsor.
Now you know that switching sponsors within eXp Realty is not a simple process for agents.
That’s why new agents must seriously consider who they want as their sponsor.
Agents Find It Hard To Find A Smaller Community
Sometimes, a real estate agent will sign up with eXp Realty as a solo agent.
Then, later, they concluded that they would do better as part of a real estate team.
Exp Realty indeed offers many excellent teams located all over the country.
However, not every agent can find a team that is a good fit for them.
This is another reason for choosing the right sponsor.
So, even if you can’t find a team to join, you’ll still have someone in your corner who can help you succeed whether or not you’re on a team.
This is an excellent strategy in case you don’t find a smaller group of like-minded agents.
Some Folks Prefer Going To A Physical Office
In some parts of the country, having a physical office is valuable.
Some real estate brokers cannot be productive while working from home.
Even though eXp World is very user-friendly and efficient, some people still would rather drive to an actual office and meet with someone in person rather than use the online platform.
Some agents are under the impression that it is required to have an office to run a thriving real estate agency.
However, this is not the case.
Many of these agents will eventually quit eXp Realty because the online platform is holding them back.
Agents are responsible for acting in a manner that benefits both themselves and their company.
eXp Realty agents can rent or own their office space, but this can be expensive.
Many of the agents at eXp Realty formerly worked at brokerages like Keller Williams and Coldwell Banker. In those brokerages, working out of an office is standard practice.
Therefore, when an agent switches to eXp Realty, they find out fast if working virtually is something they like.
Some agents soon transfer back to their prior agency, while others look for an entirely new brokerage to work for.
The Competition To Recruit Causes Rifts Between eXp Associates.
In eXp, there is a lot of competition in recruiting agents.
Some agents try their best to avoid being involved in the recruiting process.
They didn’t join eXp to recruit agents.
Recruiting is necessary for the expansion of eXp.
It’s how it’s grown to more than 80,000 agents worldwide.
It also can potentially drive a wedge between friends and other people involved in eXp.
In addition to this, it may cause problems for the agent who is joining.
Some People Aren’t Crazy About The National Association of Realtors
Some agents believe that the National Association of Realtors (NAR) is nothing more than a faceless bureaucracy.
Many agents think it violates the Constitution and ethical standards to be forced to join a group simply because a single member of their company is a member.
eXp Realty’s Reputation Could Be Better
When you look at eXp Realty Reviews, you will notice that many of them are negative.
Please note that these are primarily written by other real estate agents not associated with eXp.
Regardless of whether or not it is warranted, many people have a poor opinion of eXp within the Real Estate Community.
But we’ve seen an increase in influencers and top producers joining the eXp ranks.
However, some agents still think that eXp is nothing more than a trend.
Many traditional brokerages think this way, and this is what they tell their agents.
Agents Are Not Up For Paying Fees
Going with eXp requires a monthly fee of $85 for most brokers.
And this is in addition to any other potential expenses that may arise (i.e., transaction fees, errors, and omissions).
If you’d rather have no brokerage fees, joining eXp Realty might not be for you.
Some People Are Suspicious of Technology Platforms
There is a perception that real estate agent’s job security is in jeopardy due to the rise of tech platforms like eXp.
This technology boosts agents’ productivity and allows them to manage more leads.
For some time now, we’ve been hearing that robots may soon be able to replace as many as 80% of human workers in the workforce.
There are still some people who aren’t taking this issue seriously.
Many people aren’t investing in future-proofing their careers by re-skilling and learning new technologies.
Okay, a friend of mine moved her 20-person brokerage over to eXp, and I had to find out why, so I interviewed her here.
But I told you I recently left eXp, so I’ll share my reasoning.
Why I Left eXp Realty
For starters, I think eXp Realty is an excellent real estate company.
I moved to eXp because I saw the opportunity to grow an international team of agents (that idea was incredible to me).
It was hard to leave my independent brokerage and move to eXp.
The 80/20 split didn’t bother me.
The monthly fees seemed reasonable.
But after a year or so, I had yet to grow my team as I envisioned.
I wasn’t going to recruit in any gimmicky way.
So, I returned to our rocking local independent brokerage (shoutout to IXL Real Estate).
It’s tough to beat, as the owner (a great friend) offers solid support for his real estate agents and only charges a flat fee when you make sales.
It’s reasonable.
I intend to grow a referral real estate business and possibly a real estate team, so it’s an excellent fit for me.
In the end, it’s just deciding whether eXp is the right fit for you or not.
Good Luck!
