‘Fear, Being Bold … and Dinosaurs’
Revealed: How much eXp agents can earn in the UK
The Two Russells Podcast: The eXp Top Brass Episode
In the latest episode of the Two Russells podcast here, Russells Quirk and Jervis interviewed ALL of the top team at eXp Realty US together with UK boss Adam Day, whilst on a whistle-stop tour of the UK.
Quirk and Jervis were joined on 11th June by Glenn Sanford, Founder and CEO of eXp World Holdings; Leo Pareja, CEO of eXp Realty; Michael Valdes, Chief Growth Officer of eXp Realty; and Adam Day.
The four answered a range of questions around eXp’s scale – agents, global revenue, country presence and market capitalisation, as listed on the NASDAQ.
Quirk began the session with a critique of estate agency company bosses in Britain that he says “are rarely if ever seen doing interviews or answering questions on stage here, least not all of a company’s most senior bosses all in one room like this”.
Perhaps the answers that may be of particular interest to UK agents were to questions as follows:
Why are there only 1000 self-employed agents in the UK? Are Brits simply not good enough to be self-motivated, productive agents? Is it just a question of agents here being bold? And is there a ‘tipping point’ coming that will herald an explosion in agents wanting to go it alone?
What’s the most that eXp agents are earning in this country? Clue: It’s a big number.
Does eXp believe, as some US ‘real estate’ platforms do, that the UK property market is just the same as the US and that a ‘cookie cutter’ approach works? To this question, Russell Quirk is seen to throw Keller Williams UK under the bus as KW having ‘failed’ in this country.
How big are eXp UK’s overall ambitions in agent terms and in market share?
And which competitor does Adam Day fear the most?
A stand out comment from Glenn Sandford when discussing industry innovation and technology use ‘Estate agency progress can sometimes be dinosaurs teaching other dinosaurs to be better dinosaurs. That’s simply not us’.
Leo Pareja says to the seeming obstacle of going alone ‘In weighing up the risk of moving to a self-employed role in the UK it can be said that the biggest risk is not taking the risk at all’.
And Adam Day talked of a great example of the ‘special relationship’ between the US and Britain existing by way of the success of eXp UK in partnership with eXp Realty US.
The full episode can be seen here: https://youtu.be/rxI-MoPCy7o
