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What I don’t Like About eXp Realty

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Anyone that says that their company has no negatives or that there are no areas of improvement are full of it… Every company has its positives and negatives and most importantly what works for me, doesn’t necessarily work for everyone else. This is the beauty of options! And as Real Estate Agents, we have a lot of them! So here are my eXp Realty Negative Reviews if you will…

Facebook Workplace

Working for eXp Realty will require you to use Facebook Marketplace. This is the main way of communication in the company and is one of the things I do not like about eXp. This may be perfect for everyone else, but for me it is just one more platform for me to log onto and follow. I love email. I would prefer everything to be email. I am old school and have learned to deal with it.

How the Agent to Agent Referrals work on Workplace

One of my biggest eXp Realty Complaints is that I do not like the way referrals are handled in eXp. Being a top producer, I miss the way that RE/MAX agents would go about finding other RE/MAX agents for a referral. I found that many people would go on to the RE/MAX database and search for the top producers first which really benefited me from a referral standpoint. If you are not a top producer, then you may love this process!

At eXp, company referrals work a lot like they do in Facebook Referral Forums like Labcoat Agents. It becomes a mad dash and ultimately the first to respond (who often are not well qualified and rarely vetted) will get the referral lead. This rewards the idle agents that quite frankly are not busy.

Reputation of eXp in the Real Estate Community

With a quick glance at eXp Realty Reviews (which are mostly from other agents not at or who have never joined eXp) you will see some negativity. Oh, heck. You will see a LOT of negativity. Whether it is deserving or not, it is reality. To many, eXp has a negative perception in the Real Estate Community. I believe the negative perception of eXp has become less dominant in conversations as it is now one of the top brokerages in the country. We have also seen more and more top producers as well as industry influencers join our ranks.

Before leaving RE/MAX, I felt that eXp was just a fad and would never last. I didn’t think the model was sustainable and ultimately believed the Koolaid that I was being fed by the traditional brokerages.

Disclosures Signed

I understand the reasoning, but I do find the three disclosures that we are required to get our clients to sign are annoying. I guess you could say that I am nitpicking a little here, but it is not something that I had to do before at my old one office brokerage.

In the end, I know the Wire Fraud Advisory and Home Inspection Fact Sheet forms only protect me from future liability. And I understand from a legal perspective why eXp needs the Affiliated Business Disclosure where it discloses to the consumer other business interests that eXp owns. Even though I understand it and should appreciate it… I do find it annoying. It’s just one more thing…

No Water Cooler Conversations

A negative for some considering eXp Realty is that there are water cooler conversations of the thrilling Football game or some political debate (And this just turned into a positive REAL quickly!). It took a while for me to get used to when I left my old office. I missed the people there and the (productivity killing) conversations. That was the hardest part for me when making my decision to leave. In the end I realized these friendships would continue after I left and that the cost of working there far outweighed these conversations.

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No Standard Office

Something a traditional brokerage sites as an eXp Realty Negative is that there are no brick-and-mortar offices. Having no standard office can be difficult. For me, I had outgrown our old office space and was going to have to start looking for additional office space. So the cost of the new office space was one my team was going to have to bare anyway. I first found a local office share company as the first office space that I used. This minimized my expense and also allowed me additional time and flexibility to really assess my team’s needs and find the right space for us.

It will also be very interesting to see how the post Covid world will really shake out. I know there are a LOT of big and fancy real estate offices spending big bucks in Boston. I would imagine those footprints drastically shrinking post Covid as people have adapted to the work from home lifestyle. Client’s had really stopped coming to the office before Covid, but after… I see the client coming to the office as dead as a dinosaur.

Learning Curve for Skyslope

How eXp Realty works for the entire back office and deal management is through Skyslope. I know a ton of companies use Skyslope. This is not ground breaking stuff. And now that I have gotten used to it, I don’t mind the software. But at our old office we were old school where I would hand over a paper packet with a check list. And frankly there was not as much paperwork that was needed (which looking at it now, they should have required more) to submit the deal. A great example of this is that eXp requires a copy of the first page of the deed. Again, it makes sense why a document like this is needed… It’s just different and my wife will be the first to tell you that I don’t do change well…

1 Million Emails

One of my first eXp Realty Complaints was all the emails/notifications! It felt like a million per day. Okay, in the reality of it all… I don’t receive a million emails a day from eXp. It’s more like 983,271. It took me a couple minutes to figure out I had to unsubscribe from a bunch of workplace groups that I was automatically registered in. This drastically reduced the amount of emails I receive from eXp in a day.

I now pretty much only get emails from my broker and then workplace notifications that involve the eXp Massachusetts workgroup.

The competition to recruit

If I had to cite the biggest eXp Realty Negative, it would be the competition to recruit. Today I hate the competition to recruit just as much today as I do the day I joined. I have never picked up the phone for an outbound solicitation and really stay out of the recruiting fray. I am at eXp to sell real estate for the lowest cost with the least liability. Not to recruit other agents to the company.

I don’t like pushy sales people and am bothered that so many eXp agents are this way. I do understand the why as there is a ton of money involved, but just don’t like it. I will say that as a guy that loves solutions, I haven’t been able to come up with one that solves this problem. This has been essential to the growth of eXp and allows the company to put resources in other areas that benefit the agents.

But it can cause some rifts between friends and fellow eXp associates. It also can create issues for the agent that is joining. A choice to go with one person may offend another. Like I said… It sucks.

HATE NAR

This one is personal. I HATE the National Association of Realtors. I believe it is a bureaucracy that sold us agents out a long time ago. It goes back to their decision to sell Realtor.com and continues today with the way they have taken part in the rise of Zillow taking over our industry.

My hatred for this organization continues as I believe it is unconstitutional and unethical that I am forced to join an organization just because one person in the entire company has joined. I don’t believe this Union (that is what it really is) works in the best interest of us agents and the industry. If it was, they would be up for a serious conversation about increasing the standards of becoming an agent on the state and even federal level (How many tests and licenses do you need to pass to be a mortgage broker or a stock broker?) as well as the requirements for continuing education and yearly fees to stay an agent. They will never be for doing this as it would reduce the number of agents and thereby their membership which is money in their bank account.

This isn’t really an eXp Realty Bad Review, but of one for the NAR. eXp Realty is really the victim (like so many other brokerages) that are forced to be a part of NAR.

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These “teams” that are being created

I even see it here at eXp Realty in Massachusetts where all of a sudden you have these national “teams” popping up that try to pass themselves as local or vice versa. They aren’t really teams to what I consider the definition of them. For some reason this bothers me. It probably shouldn’t. Stay in my lane and stay focused is what I should be doing.

eXp agents are using the misleading “join my team and I will give you a million leads” headlines to get agents in their downline. There are a couple eXp Realty agents in MA that are doing this. Their “team” is really just their downline with those agents working independent then giving a referral fee if they close one of the leads. What this does is create a million competing ads on job sites (You can’t advertise on a job site to join eXp in a downline. You can only advertise to join a team) which then dilutes the ability of regular teams being able to actually recruit.

This doesn’t just hurt eXp team leaders, but it hurts all team leaders at all companies as well as the agents that are looking for a real solution in joining a real team.

I do have a solution to this problem; however, no one has asked me for that opinion ?

Think its ruining true Masterminding

In the eXp Realty Pros and Cons section, I would definitely have to put that the company is ruining the ole days of true masterminding. Again, I am old school. I miss the Howard Brinton days (Most don’t even know who he is)! I know pretty much every eXp agent would argue with me on this one… But opinions are like belly buttons… And I have mine!

Yes, it has increased masterminding in downlines and maybe even in the company as a whole. But it has created a culture where people are masterminding or going to conferences to just recruit. I feel like this is the conversation you overhear… “Hi, I am John… Tell me about your business… Here is an eXp Realty Application”… It has just gotten to be too much. TALK ABOUT THE BENEFITS IF ASKED. NO ONE WANTS TO HEAR A FREAKING SALES PITCH. SHUT UP. Heck, there are coaches who are coaches for the specific reason of recruiting people to their downlines (I even know of a certain coach with backroom deals that push agents that their company is coaching to eXp for a share of the Revenue Share)!

Call me nostalgic, but I miss the days when people would just go to a conference or interact with one another to learn and do better… Not to enrich themselves.

At the end of the day, I know it is a certain few that have created this type of negative culture… And those are also the people that are the most successful at recruiting and enriched themselves to an extent that I probably can’t imagine… As I mentioned before. I get it. As someone said so so long ago… “don’t hate the player, hate the game”.

That being said, I am still here…

I feel like I just laid down for a successful therapy session. It’s like a load that has been lifted off my chest.

So with ALL that that being said, is eXp Realty a Good Company and is eXp Realty Worth It? I am still here! And reason as to why is that this lemon is worth the squeeze. There is not a company out there that doesn’t have its negatives. In that retrospect, eXp Realty is just like any other Real Estate company.

While eXp isn’t for everyone, it is for me. I am a high D personality which makes me very calculating. If I was to make a list of things, I love at eXp (I did by the way, that list is here – Is eXp Really Worth It – Why I Decided to Stay), I know it would not be this long. But those positives are SO big that it outweighs this long list of negatives… These negatives are kind of like the equivalent of a papercut on an elephant. The cut is there (in this case a bunch of cuts), but they aren’t enough to affect the elephant in their day-to-day life.

If you are curious to know more about eXp Realty and are looking to have a frank conversation about the eXp Realty Pros and Cons, then I am happy to do so! Obviously our conversation is 100% confidential. You can reach me by email at [email protected] or go to BookChubb.com. Our office number is 617-480-2600.

If you fell on this site and were really looking for an application, then sorry to put you through the pain of reading my blog! Click here to go to the eXp Realty Application. And if you are interested and don’t have a sponsor, then I would love to chat with you!

Source: https://t-tees.com
Category: WHY