Successful real estate agents like Kelly Andel put a lot of hours and work growing their business and serving their clients.
Kelly realized that the stock benefits with eXp Realty provided her with something that no other brokerage can offer – a retirement plan.
She enjoys working hard for her clients, but she also understood that she does not want to HAVE to work so hard forever.
Watch as she talks about switching from her long-time RE/MAX brokerage to eXp Realty.
Transcript:
Chris Bounds 00:00
Kelly, how are you doing?
Kelly Andel 00:02
Good. Can you hear me?
Chris Bounds 00:04
Yes, yes. Are you in your new office yet?
Kelly Andel 00:06
No.
Chris Bounds 00:07
All right. So okay, I haven’t gotten an update on.
Kelly Andel 00:11
It’s in progress.
Chris Bounds 00:12
In progress. Ma’am. I can’t wait to get that up and running.
Kelly Andel 00:15
And when we get there.
Chris Bounds 00:18
Yeah, the live events there will be amazing. Hey, you’ve been a part of the eXp for a short while now. What is your real estate business will look like today?
Kelly Andel 00:29
Okay, buyers and sellers. It’s about 50/50, honestly. It’s about buyers and sellers. And most of my business in the past has been off of referrals. I’m starting to do some cold marketing. Finally! I’m just trying to get out there into the cold market. But most of my business comes from my warm market. And I do about 50 to 60 transactions a year.
Chris Bounds 00:51
Yeah. We’ve got to reconnect. You’re out of town. But that marketing tool that I mentioned, prospecting tool. You’re gonna be able to just crush it with that. It’s a nice proprietary marketing tool that really no one else has access to it for now. But you’ll be able to crush it. Well, how are you introduced to eXp?
Kelly Andel 01:15
So another agent brought me actually the first time I heard about eXp was I went to one of yours and brands events. I think that was the first time. You guys did something, some kind of investor meeting. You know, meetup training that I went to and that was kind of my first introduction, I believe.
Chris Bounds 01:37
Okay. Yeah, I think it was one of the workshops on flipping or raising private money.
Kelly Andel 01:44
Flipping, wholesaling or private money. I think it might have been private money.
Chris Bounds 01:48
Private money. Yeah.
Kelly Andel 01:49
Yeah. Right. When I started flipping and I didn’t know how to approach people. Yeah.
Chris Bounds 01:57
All right.
Kelly Andel 01:57
You guys did a like a little thing at the end. And that was kind first of how I heard about it.
Chris Bounds 02:02
So how has it impacted your business?
Kelly Andel 02:06
So I’ve been with eXp for five months now since March 1st. I kept in three months. And so now I’m working towards icon. And so that, that is like for me right now, where I am. That’s probably the most exciting thing because I can see that getting my cat back in stock coming in the future. You know, so I’m busting it and working towards that. So year one and every year until I retire. I’ll be icon agent.
Chris Bounds 02:40
Did you opt into the agent equity program?
Kelly Andel 02:43
Yes.
Chris Bounds 02:44
So. Yeah. If you don’t know the agent equity program, it’s optional. But I think it’s one of the most undervalued benefits with the eXp. It’s like a 401k, where you can take 5% of your commission to buy stock at a 10% discount. You’re basically getting an asset below value which that’s a win any day. But more importantly, for you, Kelly, like you were able to accumulate a whole bunch of that before the stock just recently started taking off.
Kelly Andel 03:18
Yes.
Chris Bounds 03:19
I imagine that’s been nice to watch.
Kelly Andel 03:21
Exciting. I actually was talking to my husband about this just a couple days ago, because I went back last Monday and I was just looking because I was curious of where I was. So I was looking at my stocks on Monday. And so I know, you know what that number was and then It started to take off last week.
I just kind of watched it grow just in one week and I’m like this is a savings account and five months I have saved. You know, of course, I’m not going to take it out anytime soon. But it’ll just continue to grow over the years. But I didn’t even have that opportunity.
You know where I was before at all. So there was nobody to help me figure out what I’m going to do or what I’m going to live off up to retire. It’s just been I’m building a nest egg and I can already see it growing. So that’s really exciting.
Chris Bounds 04:15
Of course, we don’t know. I mean, stock can be up or down on any day to day. Stock does what stock does. That’s partially why I’m in real estate. But here’s what it comes down to. After 10 years in this business, if you’re gonna make a career out of the business 5, 10 or 20 years. When your time is done, it is gonna brokerage. Your business when you retire or you have to retire. Maybe, due to just circumstance. Right. Your Business has zero market value anywhere else. So that’s a lot. You know this better than I do.
Kelly Andel 04:55
It’s a hamster wheel. Honestly, a hamster wheel. When you’re doing the retail side, which I love the retail side. I love helping clients. I won’t retire. I don’t know when if. I’ll probably retire when I die. Like, honestly, I probably won’t be one of those people that just works until I’m gone. So but because I love that side of it. But only having that side is a complete hamster wheel. I felt like I got out of corporate America to get out of the hamster wheel. But I got on another hamster wheel just making more money. Now, I feel like I’m working towards a long term and a big vision where eventually I can slow down when I decide that I want to.
Chris Bounds 05:39
Yeah. You’re building plan B or not necessarily Plan B. You’re building your exit strategy or retirement even though if you don’t officially retire you choose when and how you work. Right. So hey, you want to take a four month trek through Europe. You don’t have to worry about it.
Kelly Andel 06:05
Like Ian said, I did read, Rich Dad Poor Dad. That was one of the first books that I read when I really became entrepreneurial minded. I’ve always wanted to get there. You know, get to where I have multiple streams of income. I’m not just relying on one thing because with building the stock and with building the revenue share which I’m working hard on. You know, with building those, if I get sick or something I don’t have to freak out because I’m not going to have commission for a couple months or something like that. It’s having that comfort level of not having to struggle from only having one income coming in one way.
Chris Bounds 06:51
Yeah. Glenn Sanford told a story and I don’t remember the agents name. But he was from whatever call us like overseas traveling, got hurt, didn’t have health insurance. He’s out of the business for a period of time. But for him, it was revenue share, gave him a few $1,000 a month, which a lot of paid bills, which was essential. Otherwise, I mean, you’re kind of facing bankruptcy. So that’s what allowed him to sustain till he can get back on his feet. But whether it’s an emergency situation like that or a purposeful pullback or you just want to go on three month vacation, it’s options.
Kelly Andel 07:33
Right.
Chris Bounds 07:35
The business can be fun or it is fun. It’s sexy at times, but it’s draining. It’s very draining. It can be very stressful. You’re not gonna want to do it at this intensity.
Kelly Andel 07:52
Right. That’s true. I see that coming. I’m in my early 40s. But I can feel like life is changing. And eventually I do, I’m going to have to slow down because I’m like 90 to nothing all day, every day. I’m talking about like pounding the streets and selling houses. It’s a lot of work. So eventually I am going to have to slow down. That was what is so exciting to me about eXp is just having the option to build different revenue streams where I can control my life and I don’t feel like I have to get out there and go 90 to nothing. You know, when I’m 90.
Chris Bounds 08:31
What should other agents consider when looking at eXp Realty? Because your perspective is different. You’re a traditional agent. You’re very successful with a very reputable brand before. That was important to you. You were also very good friends with your brokers, still friends with your former broker and then friends with a lot of people in your office. It was a big change that took time.
Kelly Andel 09:01
Yes.
Chris Bounds 09:03
That’s most successful agents are like you. Most of them aren’t going to be just night and day. Like, “Hey, today I’m switching.” It can take time. What do you say to those agents when they’re actually consider it? How do you approach that conversation?
Kelly Andel 09:21
So you know, I you’re exactly right. It took me about a year before I finally moved over because I had to wrap my mind around everything. I had a lot of questions. I met with you and Brent. Like two or three times, I believe. To go through the numbers and like okay, explain this to me explain that to me, because I was very comfortable. So, to get me out of that comfort zone. I wanted all my questions answered. I wanted to make sure that I knew exactly what I was getting into. To make the best business decision I could. So I would say make sure that whoever you’re talking to with the eXp ask them all questions that you have. Get all of your questions answered. Make sure that you’re joining a line that you feel your values align and what your business is. That was another thing that really drew me in with you guys is that you are all investors. So that was in the very beginning when I wanted to start flipping houses. And now, I’ve done a hard money deal with somebody in our upline. I bought a house from you that you ended up wholesaling. So it’s like we’re all kind of in that same boat of what we’re trying to do with our career. So that was important. So check your upline that you’re talking to and make sure it’s something that’s going to fit with what you’re wanting to do with your business. And then, I would say, just take the time that you need to but do your research and really compare and take the emotion out of it. It came to a period of time where it was like, I just felt like it was the right time. I think we all have that sense of intuition of when we know, “okay, you know, I need to do this.” I have another agent that I’ve been talking to and he’s just like, “I don’t know why I haven’t joined yet. I’m supposed to be there. I know that I’m supposed to be there.” I’m like, “Well, come on, you know, but don’t let your own self get in your way.” It’s like, you know, if once it makes really good sense to you which it will eventually if you listen to it, I just don’t understand why it wouldn’t.
Chris Bounds 11:30
You’ve seen it before comfort.
Kelly Andel 11:33
Yeah.
Chris Bounds 11:33
The biggest thing that gets in the way of a great life is a good life.
Kelly Andel 11:39
Right.
Chris Bounds 11:40
Now, that was me in a totally different situation. But I understood that getting out of college, I didn’t continue investing. I had a great. I had a really, really good sales job. It was a job and I should have bought houses. Then I finally kind of figured that out. I got married, change plans and started building the great life. But for agents, especially if they’re very comfortable. They’ve been with their brand. Their broker for a while. They everything’s kind of humming along, but not still looking for opportunity.
Kelly Andel 12:18
Right.
Chris Bounds 12:18
It can always be improved.
Kelly Andel 12:20
Right.
Chris Bounds 12:21
Every once in a while something great comes along where that’s a no brainer. That’s a no brainer.
Kelly Andel 12:28
Honestly, I knew when I first listened to the presentation. I knew eventually I was going to get there because I could just see it. I could just see the value. I am one of those people that’s always looking for the next thing. I’m always looking for, like, how can I grow? How can I change this? What’s something else I could do? Now, that I have this under control. Like, what else can I add? But so I knew I was going to come over, it just took me time to get there. I think that’s just normal process for everybody. Because it’s such a big decision to make.
Chris Bounds 13:01
Yeah. I mean, it takes the time but be patient. If you’re talking with with agents that they need the time, let them have time, be patient, continue to support them. And when the time comes.
Kelly Andel 13:16
I’m learning that.
Chris Bounds 13:18
All right, Kelly. Hey, it’s been fun working with you. I look forward to seeing your office whenever it’s done. Your flip when that gets on the market went through that.
Kelly Andel 13:31
Yep. Once we get that and how sold that you know, we’re hot and heavy on the office.
Chris Bounds 13:36
All right. Thank you so much.
Kelly Andel 13:39All right. Talk to you later.