Thanks to increasing internet technology, virtual reality, cloud technology, and the shocking realities of a global pandemic, eXp's worth as one of the brightest real estate tech innovations has become more apparent. The cloud-based brokerage provides cutting-edge real estate technologies, including high-end lead generation software, transaction management technology, and content marketing tools.
Additionally, the eXp world provides comprehensive training events, round-the-clock technical support, a collaborative private professional community, and optional advertising support for its real estate agents. The brokerage gives the eXp agent tremendous access to the real estate office of the future, letting them eXplore a highly organized cloud campus environment to maximize their potential.
If you're new to the eXp world or want to know more about the top tech tools the cloud-based brokerage provides, we've got you covered. Keep reading to learn about the eXp world and the tech tools eXp agents leverage to achieve their business bottom lines.
What Is eXp Realty About?
Born in 2009 by a real estate team leader who suffered severely from the 2008 housing crisis and sought a less risky marketplace, eXp Realty has become the world's fastest-growing real estate brokerage. Its unique cloud based technology continues driving tech innovation and workplace flexibility - far away from the everyday eXperiences of traditional real estate practice.
But the eXp world isn't only notable for its virtual office space. It's also the only brokerage where agents can earn eXp World Holdings stock as a reward for their productivity and contribution to the organization's growth. Each agent becomes a shareholder after selling their first home, besides sharing company revenue and the advantages of several helpful tech tools.
Additionally, the brokerage's virtual campus provides round-the-clock access to collaborative tools, social networking, and the company's educational training events. These tools help members improve communication and become more efficient while assisting customers to buy or sell seamlessly and confidently.
How Sustainable Is a Virtual Brokerage?
While one of the top-selling points of the eXp world is its low carbon footprint ('going green' is the new word for 'sustainable' today), many outsiders are concerned about other aspects of the business model's sustainability. For instance, the company gives back half of its revenue to agents, with the other half going towards profit and overhead.
Professionals and speculators in the real estate industry are worried that eXp World Holdings and its parent company gives so immensely back to its agents and fears that it can continue doing this over the long haul. However, considering eXp's reach, structure, and minimal debt profile, it's safe to say that eXp's brokerage operations are highly sustainable.
First, eXp World Holdings and eXp Realty have a global reach, which makes them less dependent on the US housing market. The more the organization eXpands its reach into more countries, the higher its chances of improving its diversity and sustainability.
Moreover, eXp Realty doesn't run on physical brick-and-mortar offices, which makes its overhead significantly less than comparable real estate companies.
Here are the top tech tools eXp agents leverage to maximize their business potential.
Leads Generation and Marketing with kvCORE
All eXp agents have access to kvCORE, a massive lead generation platform in the company. Formerly called Kunversion, kvCORE is an all-in-one lead generation solution with a robust back-end CRM database and lead generation website. These tools help the real estate agent generate leads from various sources via digital and traditional methods.
kvCORE also has a user-friendly, highly informative, and aesthetic front-end interface, giving visitors and leads a gratifying, quality shopping eXperience. Users can create an account that lets them save searches and properties, while agents can access leads' search history and virtual library to know what properties interest their potential clients.
The platform's extensive CRM data management spreadsheet allows agents to manage many leads without reducing the quality or frequency of communication. Other features of kvCORE's CRM include:
- The ability to set up squeeze and landing pages to aid lead generation
- Smart email drip campaigns
- texting directly out of the system
Fortunately, even the least technically-inclined agents can efficiently operate kvCORE's features.
Skyslope: Paperless Transaction Technology
Skyslope is eXp's cloud based transaction management platform. It helps realtors sign forms, organize deals, and upload documents to the company's transactions and broker team. With Skyslope, realtors can rest assured that their file is complete and that the company's transaction coordinators and your state broker have cross-checked it.
Whenever you need to create a new file in a real estate deal, input the transaction details, and Skyslope will provide a checklist of the required documents for that deal in your market. Initially, the platform displays red against all needed documents for review. But as each paper gets reviewed, the red signal turns into yellow, and ultimately when the transaction coordinators have reviewed and approved the completed paperwork.
These indicators help you track what documents you might stun to provide or revisit for a complete file. After approving your entire file, the brokerage's transaction coordinators will issue a "Disbursement authorization" presentable to the title company. This authorization ensures you get paid at closing and receive a separate check from the company.
eXp World: Virtual Real Estate Educational Campus
eXp World is a virtual reality campus that exists to train agents, brokers, and eXp staff online. After downloading the software to their computer, the eXp agent creates avatars (their virtual persons) to tour eXp's virtual campus and eXplore its training facilities and sessions. Like other cutting edge customized tools on the eXp Realty cloud, eXp World is highly intuitive and easy to use.
While on eXp world, the agent gains access to on-demand support from their state real estate brokers, coordinators, and broker stateroom. For instance, agents can receive assistance and training from the eXp world's tech support building, team services, onboarding, and accounting offices. The software rolls a weekly training calender every Sunday evening, and these calendars contain details on the time allocation of all upcoming training for the week.
eXp Enterprise: the eXp Realty Launching Pad
All eXp agents have an Enterprise platform that displays current and closed deals, including cap and details of fees paid to date, eXp World Holdings stock earned, or revenue gained. The dashboard lets realtors know precisely where they stand concerning their cap, monthly earnings income, and how many new agents have joined their organization.
With eXp Enterprise, realtors won't need to manually upload details of their transactions, including objectives and commissions. They'd only need to log onto their dashboard and find details of all previous transactions since joining eXp Realty. This provision helps them to track their progress in real-time, appreciate their successes at eXp World Holdings and elsewhere, and navigate their path to more wins in the virtual brokerage.
Workplace by Facebook
Although identical to the conventional Facebook, Workplace is an exclusive platform for agents, brokers, and eXp realty staff online. The platform displays a news feed showing company announcements, recorded training, and users' posts (entries from agents and referrals). Additionally, Workplace has educational groups users can eXplore, like real estate training 101, referral networks, kvCORE discussion, and state groups.
It also has a messenger feature that lets users message anyone they need to, including company staff, their state broker, and fellow real estate professionals or agents. Workplace's social networking options make it one of the most straightforward ways to network globally with other agents within the organization.
Regus Office Partnership: Host Clients in Over 3,000 Virtual Offices Worldwide
Regus is a nationwide virtual co-working space. When an agent joins eXp Realty, they receive a free membership to shared workspaces within Regus local offices. eXp agents can log onto the platform and enjoy wifi or coffee in over 3,000 virtual offices worldwide.
eXp agents can also reserve a conference room or office space to host a client. A receptionist will be at hand to welcome your clients and lead them to your office. Meanwhile, when reserving a conference room, users would pay an extra $30/hour fee. However, they'll be discounted if they upgrade to a fully personalized office space to host clients for months.
eXp Passport: All-in-One Access to eXp World
eXp Passport is the company's single sign-on system. After creating an eXp Passport account, agents can conveniently access most apps they often use via a single login system. Agents will need this all-in-one solution to access all apps on the platform.
Making It Rain: Digital Marketing on eXp World
Making It Rain is an optional lead-generation program that uses marketing campaigns to drive traffic to agents' kvCORE pages. It's a trading platform for online lead-generation services and numerous valuable resources.
While eXp agents can generate leads via kvCORE, more is needed to run a thriving real estate business. Real Estate agents (often know they) need additional marketing strategies (digital and traditional) to maintain a reliable inflow of quality leads. With Making It Rain, eXp agents have an automated digital marketing program that saves agents from wasting valuable energy learning more complex advertising channels such as social media ads, Google ads, etc.
Via its 'Quick Start' onboarding system, agents can readily customize their marketing programs and get them up and moving in 15 minutes, leaving ample time to focus on buying or selling homes. This tool is exclusive to eXp agents.
BombBomb: Record and Send Face-to-Face Video Emails to Clients and Partners
Bombbomb allows you to record and send real estate videos to clients, prospects, and other agents via your smartphone or tablet. It also helps you more easily track the impact of your sent video and conventional emails. Communicating effectively over emails can be challenging. Real estate agents can build trust and confidence in their business relationships via a personalized video email messaging system.
With its webcam communication feature, Bombbomb keys eXp agents reintroduce personal face-to-face communication to their marketing and networking events. The tool's user-friendliness, tracking, and analytics features help realtors better appreciate the potential of video marketing.
Moreover, the free Bombbomb service includes integrations, autoresponders, and drip campaigns common with tools like Salesforce and Gmail to let agents communicate more efficiently. By leveraging Bombbomb, many realtors have seamlessly increased their email reply rates, lead conversions, referral rates, and website click-through rate. Additionally, the personal feel of face-to-face video messaging makes it easier for leads to stay in touch.
NARRPR: Insightful Analytics and Client-Friendly Reports on the Local Market
With only a few clicks, eXp agents can access local data and trends to understand the actual events in the local market. Short form for National Associations of Realtors - Realtors Property Resource, NARRPR provides insightful analytics and client-friendly reports on the local market.
When aptly presented, accurate real estate reports give your clients a comprehensive and accurate picture of market conditions. Agents can download the resource on their mobile apps to create reports and answer clients' questions anytime. Additionally, the software promotes eXp agents with tutorials, walk-throughs, and more on various topics critical to their real estate practice. NARRPR is free for eXp Realty members.
Joining eXp Realty gives agents a virtual ticket to the fastest-growing global estate brokerage. Besides its unique and attractive rewards system, eXp cloud provides agents cutting technology tools for maximizing their business potential.
Fortunately, eXp technology is easy to use by even the least-savvy real estate professional, which makes it even more potentially appealing to realtors, leads, and clients.
eXp Realty Cloud includes an on-cloud marketing strategy and lead generation technology to help agents become more productive. But real estate marketing eXperts and eXperienced agents know too well that the multi-channel marketing strategy is your best bet to beat the fierce competition in the real estate market.
Would you like to elevate your real estate business to new heights? We are here to help. Schedule a consultation with our team of experts today to see how we can assist in optimizing your business strategy.