I have an inkling about why people search “Why I Left eXp Realty” so often.
It’s not so much that agents are looking for validation and a way out.
They probably want to read about disgruntled eXp agents’ experiences to avoid making the same mistakes.
All this tells me is that these hopefuls want to join eXp and are willing to make some preparations.
A real estate brokerage, or any other business, that retains all of its employees is an exception, not the rule.
In reality, between 75% and 90% of employees leave a real estate company every year.
Everyone who signs up to work for eXp Realty can’t possibly love how things are run there.
It’s natural to question why so many people are quitting eXp Realty, whether you’re thinking about joining or are already a part of the company.
Below are the most compelling reasons I’ve gathered so far.
Why Real Estate Agents Leave eXp Realty
Agents Aren’t Making Enough Money
The first and perhaps the most apparent reason why some agents leave eXp is money.
The lack of it, that is.
To be more specific, many folks working in the real estate industry don’t make enough money to sustain their careers.
That’s why every year, a significant number of agents give up the profession altogether.
All brokerages are affected to the same degree by this problem.
New data suggests that over 87% of real estate brokers will fail during their first three years in the business.
Most people’s expectations about how challenging a career in real estate will be are far lower than reality.
While most real estate agencies provide their agents with training and other resources to help them thrive, not all of them are successful.
Each agent needs to realize they are, in fact, a business owner.
So, every day should involve some sort of company planning, forecasting, budgeting, and effectively executing plans.
It’s regrettable that many brokers don’t get this until it’s too late.
At that point, quitting eXp might be their only choice.
Related Reading: Is eXp Realty a Pyramid Scheme – Find Out Here.
Agents Got The Wrong Idea About eXp
Many agents at eXp Realty are so convinced of the company’s merits that they actively recruit their colleagues.
However, this human touch often leads to misconceptions and false expectations.
If someone is trying to talk up a company, many may fall prey to the idea that it’s easy to gain success there.
The reality is that achieving success still requires a lot of hard work, but these people anticipated things to be simpler or handled for them.
An eXp Realty agent might leave the brokerage because of this discrepancy between their hopes and their efforts.
When joining a new organization, it’s crucial that you know exactly what to expect and that those expectations are reasonable.
Don’t rush into a decision if you don’t fully understand the implications.
Entering eXp Is Overwhelming For Many
The process of launching a new real estate business is fraught with difficulty.
It’s normal to feel overwhelmed and confused during the first few weeks of a new job.
There will be an initial learning curve with eXp Realty because of its online-only nature.
Agents who are used to learning information in a different format may find it more challenging to learn the new system.
For those who are accustomed to completing tasks in a conventional office setting, the imposition of a strict online-only policy may be more than they can handle.
For inexperienced brokers, eXp’s abundance of features might be a source of frustration.
Many don’t understand how to properly document their work with Skyslope.
Maybe they have trouble locating the daily educational training videos that are available on eXp.
Maybe they have no idea what to do to join the conversation on eXp World.
When starting off, it can be confusing 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.
eXp’s Business Model Is Precarious
The revenue share model at eXp Realty has contributed to the company’s expansion; that’s for sure.
The same thing will probably hasten its decline.
If real estate agents exit, it will have a significant impact on your revenue share profits.
This is because of the eXp revenue sharing model’s reliance on direct recruitment to unlock the different tiers.
That’s life. Sometimes an agent will decide to leave the brokerage.
The company’s fall will speed up after a certain point, but it’s generally nothing to worry about.
As agents depart eXp, the remaining agents’ revenue share will decrease significantly.
The rate at which agents leave eXp each year will rise according to the total number of agents who leave the company each year.
Let’s say this impacts many higher-ups.
Because of this, many people will leave, causing dramatic decreases in the percentage of income retained by remaining agents.
Some Agents Who Join Don’t Have The Proper Attitude or Personality
The most obvious reason why realtors shouldn’t sign up with eXp Realty is their own mindset.
If someone lacking in initiative joins eXp Realty, they’re not going to meet much success.
I’m not trying to discourage folks here; I’m simply being frank.
I’d say this is the primary cause of failure for eXp Realty agents.
Being your own employer means that if you choose not to show up to work, no one can force you to.
In business, if you don’t go out and try to bring in new customers today, you probably won’t succeed.
Should you decide to sign up with eXp Realty, you’ll have access to a wide variety of lead generation resources.
Leads will be sent to you using tools like Opcity. You just need to stake your claim as the first one to do so.
Twenty percent of your earnings will go to Opcity.
There are many positive reports from those who use it.
RealEstate.com, Inc. recently acquired Opcity, so keep that in mind.
eXp Realty also offers a lead generation service called “Making it Rain,” which you’ll have access to 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, which is provided to all eXp Realty agents.
You’re going to have to be on board with all these resources.
Otherwise, those who joined eXp Realty and are more willing to learn will have the edge business-wise.
Related Reading: Why Join eXp Realty – Find Out Here.
There’s Money To Be Made Elsewhere
It’s possible that sales agents will leave their current company for another, supposedly better one.
It’s easy to blame the brokerage if an agent isn’t delivering the results that they believe they should.
Agents need to realize that it is a slow but steady process to climb the ranks of any real estate agency.
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 performance that matters, not 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.
They should know that eXp Realty, like any other organization, isn’t perfect and is constantly working on getting better.
There are additional ways to make money with eXp, such as affiliate partnerships and stock earnings.
However, some agents find that the supplemental income isn’t enough.
For certain agents, the flat fee structure is preferable to the commission split because of the agent’s business strategy and output rate.
Ultimately, another brokerage model makes more sense for them.
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? What he means is 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.
A few adjustments are on the horizon for how folks search for suitable residences.
Still, buyers will ultimately rely on local real estate agents and brokers, though.
Local brokerages will also play an important role in maintaining the credentials of real estate agents.
Unless you happen to know a managing broker in the region, though, there aren’t many chances available locally because the organization operates online.
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 at random.
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 a bad thing, some agents may be oblivious to the benefits they could be reaping.
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!
You should also consider what you can gain from a sponsor that you don’t currently have, as every sponsor has something different to offer.
Many eXp agents with an interest 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 in becoming an expert in this field.
There is a higher chance of improving and expanding your business and meeting your goals more quickly if they are aligned with your sponsor’s.
Plus, changing your sponsor is a tedious endeavor.
There are only two ways to switch your eXp Realty Sponsor, a fact that many agents are unaware of.
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 will be allowed to 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 it’s vital for new agents to give serious thought to who they want as their sponsor.
Related Reading: Pros & Cons Of eXp Realty – What You Should Know.
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 come to the conclusion that they would do better as part of a real estate team.
It’s true that eXp Realty offers a large number of excellent teams located all over the country.
However, not every agent is able to find a team that is a good fit for them.
This is another impetus 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 a good strategy to have 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 much more valuable.
In addition to that, some real estate brokers are just unable to be productive while working from home.
Even though eXp World is very user-friendly and efficient, there are still some people who would rather drive to a real office and meet with someone in person rather than use the online platform.
There are some agents who are under the impression that it is required to have an office in order to run a thriving real estate agency.
However, this is not the case anymore.
Many of these agents will eventually decide to quit eXp Realty because the online platform is holding them back.
Agents have a responsibility to act in a manner that benefits both themselves and their company.
Even though eXp Realty agents are permitted to rent or own their own office space, this choice might not be feasible due to the high cost involved.
Many of the agents at eXp Realty formerly worked at brokerages like Keller Williams and Coldwell Banker. In those brokerages, it is standard practice to work out of an office.
Therefore, when an agent makes the switch to eXp Realty, they find out quite quickly whether or not working virtually is something that they would be interested in doing.
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 the eXp, there is a lot of competition in recruiting agents.
Some agents have never even answered the phone for an outbound solicitation, and they try their best to avoid being involved in the recruiting process.
They choose eXp for the sole purpose of selling real estate at the lowest possible cost and with the least amount of liability.
They’re not there for the purpose of recruiting other agents to work for the company.
It’s possible that you don’t like pushy salespeople, so you may find it annoying that so many eXp agents behave in this manner.
This is quite understandable due to the fact that this behavior is incentivized.
This has been absolutely necessary for the expansion of eXp, and it enables the company to devote resources to other areas that are to the agents’ advantage.
It also has the potential to 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.
A decision to side with one agent could send the wrong message to another.
Some People Aren’t Crazy About The National Association of Realtors
Some agents are under the impression that the NAR is nothing more than a faceless bureaucracy that has long since betrayed their interests.
This harkens back to their choice to sell Realtor.com.
And it goes on right up to the present day with the way that they have contributed to Zillow’s climb to dominance in this sector.
Many agents think it violates both the Constitution and ethical standards for them to be forced to join a group simply because a single member of their company is a member of that group.
In this case, eXp is merely a victim.
eXp Realty’s Reputation Could Be Better
When you take a cursory look at eXp Realty Reviews, you will notice that a lot of them are unfavorable.
Please note that these are largely written by other real estate agents who are not associated with eXp.
Regardless of whether or not it is warranted, within the Real Estate Community, many people have a poor opinion of eXp.
As eXp has risen to become one of the most successful brokerages in the country, I feel that the widespread negative opinion of the company has begun to fade.
Additionally, we have witnessed an increase in the number of influential leaders in the sector as well as top producers joining our ranks.
However, some agents are still under the impression that eXp is nothing more than a passing trend that will eventually die off.
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 the majority of brokers.
And this is in addition to any other potential expenses that may arise (i.e., transaction fees, errors, and omissions).
Joining eXp Realty might not be for you if you’d rather have your employer pay for business expenses.
Some People Are Suspicious of Technology Platforms
There is a perception that real estate agents’ job security is in jeopardy due to the rise of technology platforms like eXp.
In reality, 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.
Apparently, many people aren’t investing in future-proofing their careers by re-skilling and learning new technologies.
Examples of Bad Reviews For eXp Realty
Let’s read from agents who have joined eXp and didn’t like the experience.
This is the plainest way we can figure out why they’re leaving the brokerage.
- “For those who are both active and experienced brokers, eXp seems like a no-brainer. Profit pooling and networking with other agents will help you amass a large monthly income in addition to your regular sales commission.
However, there is barely any agent training, and the cost of not having daily help is substantial.
I’ll be leaving eXp for a while, but I’ll be back when I start seeing icon-level improvements.
If you’re just starting out as an agent, it’s best to sign on with a local broker that already has a staff in place.
You might not make much money now, but you’ll discover how to make a lot later.”
- “The virtual training is fantastic since it allows me to get quick answers to my questions. I also like the benefit of stock options as an opportunity to earn passive income.
However, I have never grasped the logic behind our monthly fee.
There are plenty of other real estate companies that provide Opcity leads and KVcore for free or for a little transaction cost.
The absence of a physical location for my business has become a major obstacle in my efforts to bring on new agents.”
- “I would advise you to join another agency if you are just starting out as an agent. I decided to join eXp because of their training and mentoring programs.
Because I am a self-taught person, I figured this would be ideal for me.
At this point, after 50 days, I can say that eXp isn’t fulfilling its promises.
What I really wish I had done is read some of the reviews first.
Unfortunately, the mentoring scheme has failed miserably.
The mentor I was given never showed up for our planned calls.
On the rare occasions that he did, he always had an excuse not to talk to me.
I remember him telling me, “you ask too many questions,” whenever I probed for more information.”
Related Reading: How eXp Realty Works – Find Out Here.
Over the course of more than a decade, eXp Realty has specialized in helping homeowners buy and sell their homes.
The company has a rich understanding of the needs of both parties.
While the vast majority of eXp agents report positive experiences, we can’t ignore that some may not benefit from memberships.