In this video, I tell you why I decided to move my brokerage over to eXp Realty and the things you need to know when starting your real estate business.
Transcript:
JIANA 00:00
Chris, when it comes to eXp, were you ever on the fence about it? Were you ever looking over and you knew eXp was the way?
Chris Bounds 00:11
Again, I’m brokerage agnostic. I’m Real Estate Investor. I have to with a license and you don’t have to go somewhere. So it was just that I had no equity before. So I realized that, as an investor, I’m looking for equity. And it just happens to be in real estate. I also like passive income that comes through rental properties. So they said, with your license, that we’re gonna give you equity on every transaction. I’m like, Cool. And on top of that, you can buy it at a discount, even better. And then on top of that, you can get your cat back. And then on top of that, if you were to build a team, then you get passive income. And I’m like, Well, I talked to agents all the time anyway. I refer agents to other brokerages anyway. I get zero compensation for any of that stuff. It just makes sense. So I was completely on board. I do find it fascinating how much thought and patience people put into it, I respect it to a degree. But how sticky some people remain with a brokerage that they know is not providing the value that they truly deserve, that they know and understand it. But they don’t move which I found very interesting. Because I’m like, Look, you can there are no contracts. You don’t like it, you can leave. And that’s what it used to be is not for everyone. Keller’s, not for everyone. And I mean, like, you go where you love but like, try it out. I mean, you can love our brokers.
JIANA 01:53
You can have that loyalty and you can maintain those relationships while still being loyal to yourself and your family. You know, if you think about your example, earlier, she’s a mom first and a real estate agent second. And so, you know, the same thing, she’s got her family over her career and if it came down to your broker picking you or their family or brokers gonna pick their family.
Chris Bounds 02:15
I’m so glad that you bring that out. I was like, Look, because someone said, “Well, it’s only a $5,000 difference.” I’m like, so can you go home and tell your wife that you would like to write a check for $5,000? Take it out of your bank account and give it to your broker?” Like, your kids?
JIANA 02:32
Yeah, I was able to do.
Chris Bounds 02:33
Not just one year, because $5,000 may not mean a lot if you’re making 150. Well, let’s break that over five years.
JIANA 02:41
Right.
Chris Bounds 02:41
Now, how’s that number? Well, that 10 years is so cool. Ultimately, that’s what people are choosing. If you can break it out, it has more impact. But I don’t know some people have a hard time breaking over that emotional barrier.
JIANA 02:57
Right. But actually, you know, as close as you are with your broker, and like, “Oh, gosh. They would do anything for me. I’d take a bullet for them. They take a bullet for me bla or whatever.” Okay, go up to them and ask them to write you a check for your cat back. And let me know how that conversation goes. And then let’s talk about eXp because you don’t need to get your Cat back at eXp but you’ve presented the opportunity, which is itself more than any other brokerage office.
Chris Bounds 03:26
The opportunity that you control.
JIANA 03:28
Absolutely. And it’s up to you to put your nose to the grindstone and build it. And, you know, I’ve met people that have focused on their downlines instead, and they make $89,000 a month off of their downline. And so you know, there’s room for passive income and investment and growth and selling houses and everything else here. And eXp it’s just been incredible. And if you’re scared to make that jump, you know, reach out to somebody like Chris, who literally is broker agnostic. Right.
Chris Bounds 03:53
Yeah. I mean, the treatment so well. I love my old broker. I mean, he had, like 2000 agents or so in Texas and I even talked to him when I left. I was like, “Hey.” But I mean, he understood. He understood what was going on.
JIANA 04:10 That’s awesome. That’s incredible.