BELLINGHAM, WA – In an era where the number of actively practicing real estate agents is dwindling, Rich Johnson, Esq., real estate lawyer and now principal broker for eXp Realty in Maryland, argues that it’s not the market that is the problem, but the marketing (or lack thereof) used by agents that prevents them from achieving success.
“This is one of the main reasons I decided to partner with eXp Realty and bring this business model to Maryland,” says Johnson. “It’s the perfect combination of using web 3.0 internet marketing for lead generation, buyer acquisition, listing distribution, business management and growth, without sacrificing quality or customer satisfaction.”
Johnson started brokering real estate in 2005 while representing real estate investors and developers through his law practice; this lead to the creation of ESQ Realty, an independent local brokerage that grew in the central Maryland area.
In late 2008, Johnson followed the market and shifted the firm’s focus to short sales, foreclosures and distressed real estate. During this time he witnessed many of the “big box” real estate firms close because their business model contained a large overhead for physical space and outdated marketing that was too expensive and ineffective for sustaining profitability.
“The only reasons why we survived the storm was because almost all of our marketing and lead generation was done online, our agents engaged the active state of the foreclosure market and our overhead was extremely low. Most of our business was online and not reliant on traditional marketing techniques to generate sales.”
After talking with Jason Gesing and Glenn Sanford, who Johnson calls, “two of the brightest minds in real estate,” Johnson says, “it made obvious sense that the next step for us would be to join forces and bring eXp to Maryland so that other agents throughout the state could benefit from the training, technology and forward-thinking online business strategies.”
While eXp Maryland’s business management, training and back-end systems will be 100% cloud based, agents will have access to conference rooms, a training facility and offices located in Columbia.
In addition to the ability to conduct business from home, eXp provides its agents with a revenue share plan that is second to none in the industry. Unlike other revenue share plans that distribute revenues to agents based on the profitability of the market or after overhead is paid, eXp Realty distributes profits to agents regardless of profitability and on a “gross” basis. This means agents get higher residuals for recruiting fellow agents and are directly rewarded for bringing in quality agents that close deals.
“This is truly an exciting time for us; we have joined the trend setters of the real estate industry,” says Johnson. “As technology grows and is used to eliminate the barriers of communication and improve the dissemination of information, eXp will be in a position to leverage this technology to create better agents and provide more efficient, high quality services to their border-less communities.”
eXp Realty has agents in 25 states and has effectively eliminated traditional brick and mortar environments (and the costs associated with them) in favor of a fully-immersive, 3-D, virtual office environment where agents, brokers and staff collaborate across state borders while learning and transacting business from anywhere in the world.
Richard is recruiting agents at http://bit.ly/eXpMaryland and can be reached at [email protected]. Learn more about eXp Realty, its customer-centric focus and extraordinary agent service at www.exprealty.com.
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