As you are aware, cloud-based brokerage has been on the rise and consulted over time to offer better management solutions in real estate. Integrating technology with various processes increased the popularity of cloud-based services to different companies. An example is the eXp Reality and REAL brokerage. Through innovative technologies introduced, real estate has had changes that help agents customize to their liking. The cloud-based environment has increased productivity and inclusion, enhancing business operations over time.
eXp and REAL Features and Big Players
Through virtual interaction, eXp has allowed collaborations to happen in different locations. Partnerships lead to the growth of ideas and solving of issues that may arise; through agents such as Juan Carlos Barreneche(Of The GoldBar team), whose work in real estate has been commendable.
REAL brokerage is also a real estate brokerage firm powered through technology. The company also serves agents in creating better opportunities; for realtors like Ed Stulak(of Orbis Group), growing reputable brands is vital. The REAL brokerage also focuses on effective growth through opportunities. Both eXp and REAL are cloud-based brokerage services using a technological approach to monitor the transactions ad work around their management.
There are a few differences between the two; natural broker agents do not pay insurance fees covered annually, while eXp requires agents to pay a fee per transaction. A distinct difference exists in the revenue share comparison; the use of different structures, thus varying, affects share tiers.
What are the Pros of eXp?
• Cloud-based brokerage, which eases communication, training, and management.
• Access to training from experts around the world.
• Programs that allow agents to sponsor other agents and get a revenue share. Sponsorship revenues earn the agents earn 20% of their commission.
• Access to great programs like healthcare.
• An 80/20 commission is split between the agents and eXp; agents take 80% of the commission.
• A $16,000 cap to get full commission.
Cons for eXp Brokerage Include
• It focuses on agent attraction, and thus not all agents can communicate authentically; instead, they focus on getting more out of it. Therefore, agents may jump into eXp without a sound strategy for creating sponsorships.
• Uncertainty of online brokerage, especially with the revenue sharing model. This influences doubt in many agents.
• It can be an overwhelming task to monitor and figure out the different components online and thus requires a profound understanding of transaction management.
What are the Pros of REAL?
• Lower cap and splits. The fees are significantly less than other franchise-based brokerages.
• There are methods to earn real stock in the company, which attracts other agents and fosters community and collaboration.
• The REAL brokerage has a considerable revenue share potential through its share program, making it the most profitable for agents.
Cons of REAL Brokerage Include
• REAL does not have a recognizable brand as other real estate companies.
• Every transaction occurs online; thus, no office access for consultations or presentations.
• No face-to-face interactions.Â
Takeaway
Both eXp Realty and REAL are top brokerages in real estate. However, eXp is far superior in three key areas: technology, innovation, and compensation. eXp Realty offers its agents more advanced and field-tested software and technology. Further, eXp edges REAL in improving its systems and resources for its agents and also offering a superior compensation model. Regardless, REAL shows greater growth potential.
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