Elizabeth Riley is an active realtor in the Texas real estate market. However, her 17-year real estate experience doesn't just revolve around buying and selling properties. She uses her wealth of knowledge to educate other eXp agents on the real estate market's inner workings.
Revered as a local and national leader in community and production commitment, Elizabeth is the only agent to receive seven ICON awards at eXp Realty — a brokerage with over 85,000 agents worldwide.
CEO of Luxe Property Group (brokered by eXp), Elizabeth's motivations for a stellar work ethic border on impeccable service to her clients, her team, and her community.
This article examines Elizabeth's real estate journey, her eXp Realty entry, and how she curated a business model reliant on 100% referrals.
Itching to know more about this eXp Realty leader? Read to the end.
Elizabeth Riley's Real Estate Journey: How It All Began
Elizabeth ventured into the real estate business over 16 years ago in Atlanta, Georgia. Before this timeline, she and her husband were realty investors. However, the narrative changed when her Certified Public Accountant (CPA) suggested that either of them should get a real estate license. Elizabeth took this leap.
At first, she had no intention of building a realtor empire and was more interested in real estate investing. After a while, she realized her love for working alongside people within the industry. As such, she established her first realtor business in Atlanta, Georgia.
2008 marked a change in proceedings as her husband transferred to Austin, Texas. Since she didn't know the Texas real estate market in depth and learned the numbers there weren't the greatest, she was skeptical at first. Nonetheless, Elizabeth reiterated that if she had built a realtor business once, she'd do it again in Texas.
In the same year as her husband's transfer, Elizabeth's Texas business took off. Six years later (2014), she became the number one agent in her market center, hosting 650 agents.
But this was only the beginning.
Elizabeth Riley Sets Sail With eXp Realty
Elizabeth Riley hit a point where she desired something different after being with one brokerage for over ten years. Choosing not to create hers, those she worked with in Atlanta, Georgia, opened her eyes to eXp Realty and its opportunities.
After much deliberation, Elizabeth Riley decided to set up a meeting with Glenn Sanford (founder of eXp Realty). During this interaction, she asked questions about his visions, goals, and what he anticipated for top agents.
Elizabeth's interest in joining eXp Realty piqued when Glenn inundated her with plans that included a "stock" component for top-notch agents. She saw eXp as an opportunity to increase her business's visibility and earn stock-themed benefits.
"I like Glenn. People follow people, and I liked what he had to say," said Elizabeth in the Icons of Real Estate Podcast. As such, she decided to join the eXp Realty train in May 2015 as agent 465.
In her first year (2016), she earned the top producing agent award. She retained this feat the following year (trumping over 5,000 agents). These accolades made her realize she was destined for something bigger.
At that point, she partnered with top eXp agents nationwide. Elizabeth made sure she joined forces with "owners" like herself. "When you're an owner of something, you think differently, you act differently, and you collaborate differently," she says. She also became one of the founding members of eXp Family Tree.
In 2020, Elizabeth made $30 million as an independent agent. With a business structure based on 100% referrals, she attributes her success to the tools and in-depth information provided by eXp Realty.
Elizabeth also reaffirms her love for the ICON Agent Award program powered by eXp Realty, as all she got as a top producer at her last brokerage was a baseball cap with the "CAPPER" inscription. As a mother of four with mortgages, this wasn't the exposure she required. However, by winning the ICON award a mind-boggling seven times, Elizabeth admits she has more to show for her hard work than a baseball cap.
Reasons for eXp Realty's Unprecedented Rise in 6 Years: Elizabeth Riley's Standpoint
According to Elizabeth, there was a period eXp Realty placed tracks in front of trains. She confirmed the brokerage firm (as recent as 2020) didn't have the processes and tools they had today.
Elizabeth Riley further reiterates that it's now easier to join eXp Realty than some years ago. She attributes this to the fact that eXp is proven, appears on NASDAQ, and is operational in over 20 countries.
Speaking on eXp Realty's unprecedented growth, Elizabeth confirms the brokerage amassed reverence one relationship at a time. To drive this point home, she delivers context into her discussions with a retiree when she was undecided about joining eXp Realty.
After interactions spanning five months on eXp Realty's model (which Elizabeth thought was too good to be true), her retiree friend (Gene Frederick), after a sit-down with Jason Gesing (eXp Realty CEO), decided to come out of retirement and set sail with the brokerage. With Gene selling all he had at his previous company, he and Elizabeth joined eXp — on a new slate!
According to Elizabeth, her and Gene's eXp Realty entry kick-started growth as the latter brought his network to the brokerage. "People want to do business with who they know, like, and trust," says Elizabeth. And that's one of the many reasons eXp Realty gained traction in so little time!
"As you grow, your leadership needs to change to manage that growth and manage whatever those projections are going to be," said Elizabeth when talking about how leadership changes positively impacted eXp Realty's reverence.
In 2021, the brokerage hired Micheal Valdes — a realtor with 25 years of real estate experience — to spearhead its international expansion efforts. With him on board, eXp Realty's numbers are off the charts!
Elizabeth also reiterates togetherness as part of the brokerage's success. According to her, leadership looks at everyone as clients and ensures no one is left out of the process, creating that "Big Family" company dynamic.
Elizabeth Riley's Secret to Establishing a 100% Referral Business
Creating a business that relies solely on referrals in the real estate market might seem impossible on the surface. However, Elizabeth has achieved this somewhat unattainable feat.
But the question remains — how has she maintained this business model?
In the Icons of Real Estate Podcast, she shared the following secrets:
Treating People Right
Being a relational individual, Elizabeth treats her clients as though they're her one and only. "People want to feel special, they want to feel important, and they want to be heard," Elizabeth says. With this mandate, she prioritizes her clientele regardless of their precise needs.
Elizabeth never wanted to resort to door-knocking and cold calling to attract clients. She just wanted to perform a stellar job for her patrons so they could spread the word to others.
Although Elizabeth's popularity in the real estate market has made her schedule tighter, she remains consistent with her clients by communicating with each thrice a month.
"It's all about consistency. It's figuring out the type of agent you want to be, and what kind of business you want to build," says Elizabeth.
Don't Be a Secret Agent
Elizabeth highlights that agents should endeavor to make their offerings known. However, she's against becoming the agent who talks about "real estate" every time.
To achieve this, Elizabeth lets people know what she's done to serve her community. And while she sends out monthly newsletters to her clients, she doesn't theme them around the real estate market — instead, they're 100% FUN!
In Elizabeth's words, the goal is to remain "top of mind." When your marketing efforts don't center on real estate, clients will think of you once they encounter something related to real estate.
Simultaneously Juggling Family and Real Estate Endeavors: How Elizabeth Riley Striked a Balance
Although Elizabeth has numerous accolades to her name, she's been able to balance her real estate endeavors side-by-side her marital and parental responsibilities.
But it isn't all smooth sailing.
According to her, she'll be in serious trouble if she ever loses her iPhone or calendar. Her four kids attend different schools and lead active lives. However, with all four leaning towards basketball, Elizabeth says she feels like an "overpaid, glorified Uber driver."
Although some folks might rank Elizabeth Riley as a hero, she needs sidekicks to get the job done. While her husband helps out when he can, he's away on business trips often. However, her house manager (Anna) and assistant (Jenn) help out immensely. "Without Ana and Jenn, I can't do what I do," Elizabeth confesses.
Elizabeth also adds that "virtual brokering" has given her more time to forge the perfect work-life balance. Using eXp Realty proprietary tools such as Virbela, she creates and maintains relationships with top-tier realtors nationwide.
Parting Shot: Elizabeth Riley as an eXp Realty Leader
Elizabeth Riley is a decorated real estate agent in Austin, Texas. Her realty adventure showcases resilience and why relationships are crucial to forge ahead in this saturated industry.
For more real estate stories like this, tune into the Icons of Real Estate Podcast today. By listening to revered realtors like Elizabeth Riley share their successes and challenges in the real estate market, you can carve a niche for yourself and excel accordingly.
Although getting started in the real estate industry might seem challenging, listening to realty professionals share their experiences on the Icons of Real Estate Podcast gives you the pedestal required to set up a successful real estate business. Tune in today!