At last count, there were more than 1 million active real estate licenses in the U.S., and more than 86,000 real estate brokerages nationwide.
As you can imagine, this makes choosing the best real estate company to work for very difficult for newer and experienced agents alike. If you’re like most agents, you’ve at least considered a major brand as a place to hang your license. But, which realty company is the best for you?
To help make your choice a little easier, we’ve looked at five industry leaders and evaluated them on the criteria that matter most to agents. After hours of research and interviews, we’re ready to help guide you through the top real estate companies.
How We Evaluated The Top Real Estate Company To Work For
The Close Team did its homework on this one. We evaluated each franchise using significant independent research, including interviews with local agents and brokers. We also had conversations with members of corporate leadership.
We evaluated data on professional review sites like Glassdoor, Comparably, and Indeed, taking into account the feedback Realtors gave about their experiences working for each of these brands.
Based on our research, let’s see how each of our major brands: Keller Williams, Coldwell Banker, Century 21, RE/MAX, and eXp Realty stack up against each other in the categories that matter most to real estate agents.
Best Real Estate Companies of 2019
| Brokerage | Best For |
|---|---|
| Keller Williams | (Best Overall) Agents at all stages of their career |
| RE/MAX | High-performing, established agents |
| Coldwell Banker | New agents |
| eXp Realty | Part-time agents |
| Century 21 | Agents who want to reach more millennials |
The Best Real Estate Company To Work For Overall: Keller Williams
Keller Williams takes home our prize for Best Real Estate Company To Work For.
Its competitive compensation plan, commitment to creating a culture of success on all levels (including a prioritization of women in leadership), and the hard work it does to create career-lasting relationships with its agents makes it our top choice.
Why Keller Williams is the Best Real Estate Company To Work For
Keller Williams gets a lot of things right. Its commission structure, company culture and growth potential have positioned Keller Williams at the top of our list.
Keller Williams Commission Options & Agent Fees
Just about everyone we talked to across our different brands told us the same thing when it comes to commissions:
“Well, it varies.”
A traditional commission structure has a lot of moving parts, but that doesn’t always make it easy to understand at a glance. Keller Williams has removed that ambiguity and is very clear about how their system works.
Keller Williams’ Pre-Cap Commission Structure
Each Keller Williams office (or, as they call them, Market Center) has what’s called a cap. The cap is a certain amount of money that each agent will pay to Keller Williams to support the company at large. Each Market Center has its own cap, determined by local market conditions, operating expenses, etc. Every Keller Williams agent at that office has the same cap; it doesn’t matter if you are a 20-year veteran or a brand-new agent.
When an agent receives a commission pre-cap, they keep 64% of it, 30% goes to the Market Center, and 6% goes to the national brand as a franchise fee. Once you hit the cap, you keep 100% of your commission—no hidden fees, no sneaky percentages, that’s it.
Keller Williams’ Post-Cap Commission Structure
Profit Sharing
Agents also receive another piece of the action in the form of a secondary commission when someone they recruit closes a sale. That benefit continues when your recruit then goes out and successfully recruits other agents (up to seven levels deep). The opportunity for passive income with Keller Williams becomes pretty great.
Also, when an agent hits a certain production level, they get opportunities to participate in companywide decision making as a part of leadership councils. This is unique to the brick and mortar landscape, and a place Keller Williams is leading the way.
Keller Williams Company Culture
With a commission structure that rewards the success of the entire Market Center and not just individual agents, Keller Williams’ company culture is focused on constant improvement and support.
As an agent, if you recruit another agent to come and join KW, their success is in your best financial interest. Thus, many de facto mentorship relationships develop.
Keller Williams takes this a step further with extensive training both live and on demand, across all sorts of topics, truly investing in its people. They are widely regarded as an industry leader in training and professional development.
Current Executive Leadership
We’re also impressed with the obvious efforts on the part of the KW corporate leadership to make gender equality and diversity a priority. Fifteen of the top twenty-five executives in the company are women, and, in 2017, the company was named to Franchise Business Review’s Top 50 Franchises For Women.
It is clear that, from the highest levels, a culture of inclusion and diversity matters, and it plays a vital role in the brand’s continued success.
Keller Williams Brand Growth Potential
Even though Keller Williams is a relative new kid on the block, having been founded in 1983 and only starting franchising in 1991, it continues to grow at an impressive clip every year. Sales volume for 2018 was up more than 4.2%, a gain of over $256.5 billion.
The company’s growth potential continues to be sky high. Even though only 10 of the Real Trends top 200 agents in 2018 were from KW, 2019 expects to see the total volume of agents worldwide to be more than 190,000, making this company a force to be reckoned with.
With an innovative business model and a growing agent base, the opportunities for Keller Williams agents to get in on the ground floor of a fast moving company is great.
Best Real Estate Company To Work For – Established High-Performing Agents: RE/MAX
RE/MAX is one of the most recognizable brands in all of real estate, and until five years ago, held a 14-year streak of being the leader in market share across the U.S. and Canada.
We chose RE/MAX as the preferred spot for established high-performers because of its Industry Leadership, Brand Awareness, and Commission Split options.
RE/MAX Industry Leadership
Of the top 200 agents of 2018 according to Real Trends (by transaction sides), a staggering 57 of them were RE/MAX agents. This is a brand synonymous with performance, especially for those who know the business well.
An agent who is operating on a high level knows that their personal brand and reputation is going to be supported and enhanced by the market reputation of RE/MAX.
RE/MAX Branding
RE/MAX has a strong presence in the vast majority of major metropolitan regions, and moreover is recognized across multiple industries as a dependable brand.
Entrepreneur Magazine most recently named it the top Real Estate Franchise in 2018, a spot it’s held for 14 of the last 17 years.
RE/MAX’s iconic hot air balloon is one of the most recognizable symbols in all of real estate, according to a Millward Brown Demographic Ad Tracking Study in 2017
RE/MAX Commission Options and Agent Fees
There is no brand wide policy about splits, desk fees and caps, each of those decisions are negotiated at the local level.
Though not transparent in the same way as Keller Williams, RE/MAX does offer agents lots of flexibility in terms of how they receive their commissions.
With a range topping out at 95%, experienced agents with a proven track record can get paid more on the front end pre-cap. This allows them to leverage that money toward time-sensitive needs like more marketing and promotion.
Those generous splits often come with higher desk fees, but for most rock star agents, the higher desk fees are worth it in order to further other aspects of their business.
We heard Adam Contos, CEO of RE/MAX speak at the Inman Connect NY 2019 conference, and he had this to say about advice he gives to agents who are just starting with the company:
“Don’t get distracted by all the noise, by the things that are thrown at you. Focus on your business and your success. Step up to the plate, be a professional, be confident, do your job.”
Best Real Estate Company To Work For – New Agents: Coldwell Banker
In a bit of a surprise, Coldwell Banker has emerged as our pick for the best real estate brand for new agents.
The legacy and prestige of one of America’s oldest real estate names is impressive, but how does that help new agents? How about an ultra-recognizable and trusted brand, a company culture that is all about nurturing long term growth, great training for new agents, and the potential to develop a personal business where the sky’s the limit.
All of a sudden, Coldwell Banker became our easy choice.
Coldwell Banker Branding
As anyone who was once a new agent will tell you, in the early days of your career, you don’t have much to go on.
You have your own personal sphere of influence, and you have the reputation and recognition of the brand you are a part of.
Coldwell Banker has been associated with trusted real estate service since the great San Francisco earthquake of 1906, and its recent Blue marketing effort (see video below) is another example of how this brand is not going anywhere.
This refreshed brand awareness direction speaks to not only this company’s commitment to keep its name relevant and in the conversation, but also to its understanding of the changing real estate landscape.
The verdict: This isn’t your grandfather’s Coldwell Banker any more.
Coldwell Banker Company Culture
Consistently, the phrase that comes to mind when evaluating the company culture of Coldwell Banker is client focused. While we certainly wouldn’t say that other brands on our list fail to put client needs in high priority, it shines through as a cornerstone of what Coldwell Banker calls Big Blue Culture.
This sort of client-centric focus is great for new agents who are still learning the ropes as far as interaction, sales, and best practices. Having a company where the rock stars can model this behavior for the newbies is pretty compelling.
We heard something similar when we spoke with Tracy Bacigalupi, Vice President of Marketing for Coldwell Banker Schmidt Family of Companies, the largest Coldwell Banker Franchisee in the country.
“Coldwell Banker has an amazing amount of resources that it provides to Realtors and brokers on a local level. Our programs like CBU (Coldwell Banker University) provide an incredibly rich and customizable approach to training that is perfect for experienced agents or people brand-new to the business.”
As mentioned, Coldwell Banker has been around a long time. They are in so many different markets and have so many different agents at so many different levels of the business, it is clear that the road to success has already been paved here. All a new agent has to do is ask for directions.
Coldwell Banker Commission Options & Agent Fees
Even though the commission and fees at Coldwell Banker are reasonable, they aren’t anything to write home about either. However, if you are considering Coldwell Banker as a place you want to go, you should know the details.
Much like RE/MAX, there is no companywide number for cap, splits, or desk fees. All of those things are negotiated at the franchise level, so to really dig into these figures, you need to talk to a local broker.
Even though the numbers might change, we can tell you that, unlike Keller Williams or EXP, even after you hit your cap for the year, agents are still expected to pay their franchise fee, which is 8%.
It would be nice to have a prepackaged formula we could use to figure exactly what your take home would be. But, it’s also nice to know that, like everything in real estate, these numbers are negotiable.
Best Real Estate Company To Work For – Part-Time Agents: eXp Realty
You haven’t even read our explanation yet, and we can already hear what you’re thinking.
“What?! A virtual brokerage beat out other major brick and mortar brands?!”
Yes, yes it did. And here’s why: When it comes to being a part-time agent, there are three things that are important to you.
- Can you make the money work?: If you have lots of upfront fees and costs due outside of a transaction, that math makes this side hustle impossible. With eXp Realty, you don’t have to stress about that.
- Self-paced and remote resources: Your growth should be on your own schedule. eXp Realty has you covered.
- Remote company culture: You need a company that really embraces the remote working lifestyle. eXp Realty lives remote.
eXp Realty Commission Options / Agent Fees
The eXp Realty commission and cap system is simple and easy to understand. Universally, every agent in the company has a cap of $16,000. Splits are 80/20, and after you meet that cap, you keep 100% of your commissions—no desk fees, no royalty fees, no franchise fees.
Revenue Sharing: Better Than Profit Sharing
Similar to Keller Williams, EXP also has passive income options, paying you a percentage of the commission that any agent you recruit makes. But, unlike Keller Williams who offers a share of PROFIT (which, depending on your Market Center can be a relatively thin margin), EXP offers a share of REVENUE. This puts more money in the pockets of EXP agents who can recruit, and makes recruiting a more profitable venture than at Keller Williams.
EXP takes it a step further by offering stock options to agents after they hit their cap for the year. Even though this might be a part-time gig, you can have a legit retirement savings plan with eXp Realty.
This straightforward system is ideal for agents who can’t commit their entire lives to real estate right now, and need low upfront investment in the business.
eXp Realty Training and Support
Since EXP is a completely remote business with no brick and mortar locations, the only real option for education and training is in a virtual environment.
EXP offers a LOT of live-streamed training and networking (up to eight hours of live content per day), but an even larger library of pre-recorded material is available for agents to use at their convenience on their virtual campus.
No more having to rearrange your life to make it to a classroom; the classroom is anywhere you want to be, anytime you want it to be.
And, since eXp Realty’s model is similar to Keller Williams as far as the benefits of success from your recruits, close ties of mentorship form across the company, making the other agents in the firm the final (and most powerful) training tool.
We asked Gogo Bethke, a high-performing agent with eXP\p Realty about the training opportunities with EXP.
“The best that I’ve ever experienced on any level, period. There are so many different groups of EXP agents, so many different platforms that they (eXp Realty) provide access to. And, you can’t get more convenient than EXP. I could be sitting with my feet in the sands of Mexico and attend a live session on post-closing occupancy in the EXP virtual classroom. I’ve been with multiple real estate brands across my career, I have never seen anything like what EXP offers.”
—Gogo Bethke, Agent at Gogo’s Real Estate
EXP Realty Company Culture
Just about any real estate recruiter will say “A Realtor can make her own hours, work when she wants!”
That recruiter often forgets to mention the mandatory office meetings, the training in the conference room twice a week, and the floor time most brokerages insist on every other Monday.
Since EXP has no physical location, you truly can (and must) work from wherever you are.
Home with a sick kiddo? Grab your laptop. Now you are in your office. Got a lunch break at your 9 to 5? Hop into EXP’s virtual classroom. You just did some training.
The sort of flexibility that a completely remote position offers makes this a perfect choice for Realtors who aren’t sure exactly how many hours they will log this week, or where they will be when they log them.
Best Real Estate Company to Work For Reaching Millennials: Century 21
This pick should come as no surprise to those who follow the major marketing efforts of the big players in this space.
Century 21 has consistently impressed us with its branding and marketing efforts, especially in the last year or so. New logo, new marketing strategy, new people talking about Century 21.
If you are a strong marketer of your own personal business, combining those skills with what Century 21 has to offer makes for a potent mixture. If you are needing some help on the marketing end of things, C21 has lots of tools to get you started.
Century 21 Branding
“What if we changed everything?”
This is the question the marketers at Century 21 are basing their entire new strategy around, and it’s working. New company mission (“To Deliver Extraordinary Experiences”), new logo, new vibe all together.
Century 21 is taking a bold approach to where they are pushing this message too. They’re booking guest spots on shows like SportsCenter, not 60 Minutes. They are backing ads on Viceland, not on Fox News.
It is clear that they’ve identified their next customer as more likely to be watching the Big Bang Theory than Antiques Roadshow.
If you are a Realtor who has the millennial (and younger) homebuyers or sellers in your sights, C21’s message will resonate nicely with you (and them).
Century 21 Gender Diversity
It is clear that Century 21 takes diversity seriously at all levels of their operation.
Recently, they were named to the Forbes 2019 List of Best Employers For Diversity.
Century 21 actively recruits veterans to become real estate professionals, and their chief marketing officer, Cara Whitley, was recognized as a Housing Wire 2018 Woman of Influence.
The Empowering Latinas Scholarship is part of C21’s efforts to empower Hispanic women in real estate, paying for all the necessary classes and licensing to get young entrepreneurs.
The agents that we spoke to on the local level confirmed this commitment to diversity and inclusion as a part of the company culture. This adds to the cachet of this transforming brand, putting it even further out on the cutting edge.
Century 21 Brand Growth Potential
With the recent brand redesign and new marketing approach, it feels like the Century 21 growth path is turbo charged. The current CEO, Mike Miedler, began his career with C21 over 20 years ago, and has been at the helm of the ship during Whitley’s bold rebranding initiative.
Before taking the reins as CEO, he was the company’s Chief Growth Officer. In that role, the last two years has seen the fiercest expansion seen since 2006, and the new marketing legs are poised to accelerate that growth even further.
This sort of aggressive growth is a real ally to agents who can use not just the new logo, but the fact that more C21 signs are appearing in the neighborhood to their advantage.
Century 21 Commission Options & Agent Fees
Similar to the situation with Coldwell Banker, the commission structure at Century 21 is fine, but nothing we’re crazy over either. Just about everything (except for that 8% franchise fee,) is negotiated at the local level, so there isn’t much that we can tell you about here.
The one differentiator is that Century 21 doesn’t charge a desk fee. This is helpful for a lot of agents, especially those who are new to the business, because it means that C21 doesn’t ask for a penny before you close a deal. There are certainly trade-offs for this flexibility, but helpful nonetheless.
Looking For Something a Little More Indie?
We understand that the national brands aren’t for everyone. Thanks to our friends at RealTrends, we have a list of the Top 20 largest privately owned brokerages as well.
| Rank | Company | City | State | Offices | Sides |
|---|---|---|---|---|---|
| 1 | HomeServices of America, Inc. (Independents Only) | Minneapolis | MN | 230,289 | |
| 2 | Hanna Holdings | Pittsburgh | PA | 214 | 90,468 |
| 3 | Crye-Leike Realtors | Memphis | TN | 91 | 28,699 |
| 4 | eXp World Holdings, Inc. | Bellingham | WA | 46 | 24,655 |
| 5 | Real Estate One | Southfield | MI | 44 | 24,589 |
| 6 | Allen Tate Companies | Charlotte | NC | 43 | 22,273 |
| 7 | Douglas Elliman Real Estate | New York | NY | 110 | 22,272 |
| 8 | REALHOME Services and Solutions, Inc. | Atlanta | GA | 19 | 21,862 |
| 9 | William Raveis Real Estate, Mortgage, and Insurance | Shelton | CT | 128 | 20,871 |
| 10 | West USA Realty, Inc. | Phoenix | AZ | 17 | 20,762 |
| 11 | Ebby Halliday Real Estate, Inc. | Dallas | TX | 33 | 18,835 |
| 12 | @properties | Chicago | IL | 20 | 18,670 |
| 13 | Baird & Warner | Chicago | IL | 29 | 17,450 |
| 14 | John L Scott | Bellevue | WA | 34 | 16,743 |
| 15 | Watson Realty Corp. | Jacksonville | FL | 52 | 15,943 |
| 16 | The Keyes Company / Illustrated Properties | Miami | FL | 50 | 14,174 |
| 17 | Equity Real Estate | Sandy | UT | 63 | 13,585 |
| 18 | HER Realtors | Gahanna | OH | 72 | 12,681 |
| 19 | Shorewest Realtors | Brookfield | WI | 22 | 11,851 |
| 20 | Sibcy Cline Realtors | Cincinnati | OH | 23 | 11,441 |
Why a Privately-Owned Brokerage?
Privately-owned brokerages are a little more agile than the larger publicly traded firms. When a realty company is beholden to stockholders, turning the ship is a lot like turning the Titanic.
However, when you’re a part of an indie firm, once the leadership makes up its mind, a decision can be implemented overnight.
Just because a firm is privately owned does not make it small or a non-competitor. Responsible for billions of dollars of sales every year, this segment of the professional market is a vital player in the real estate industry.
Also, don’t forget about the smaller mom-and-pop operations. Yes, having the major infrastructure of the realty companies that process tens of thousands of transactions a year is nice, but remember, real estate is a hyper-local market. What the mega players gain in infrastructure is often lost in a personal relationship with a community.
Your Turn
We’ve listed our top picks for the top real estate companies to work for. Now, we want to hear from you. Tell us your thoughts on our picks, do your experiences line up with what we found?
Think your office is the best one in town? We are looking for nominations for the best real estate OFFICE in the country. If you are a Realtor in a local office, regardless of whether you are part of a major brand or a mom and pop shop, we want to hear from you.
Leave us a comment with your thoughts on the BEST office to work for.
Chris,
I am a National Educator of Designations and Certifications with eXp University. I would love to write an article regarding education in the cloud! Maybe we could do an interview?
Hi Rebecca –
Sounds awesome, let’s chat. I am sending you an Email now!
Chris
What about Fathom Realty? They only charge a flat fee of $450 per side per sale.
Peter –
Thanks for the comment! Fathom Realty is a very interesting brand indeed. Their commission structure is obviously very attractive, we are closely watching their upcoming IPO, definitely a company to watch in 2019!
Chris
I’m surprised that a Berkshire Hathaway and Long and Foster Real Estate aren’t mentioned?
Hi Patti –
Thanks for the comment. Berkshire Hathaway was definitely on the short-list, and to be totally clear, I think a LOT of that organization. Ultimately, their splits are a little higher than the average, and their training options doesn’t bring anything new to the table, so they didn’t make the final cut. But, I would definitely be willing to listen to arguments why I should change my mind!
As far as Long and Foster, they are a great east coast brand, but don’t really have any reach beyond that. We ultimately chose brands that had a national and international umbrella, and for that reason, Long and Foster wasn’t considered. However, I am definitely keeping them in mind for a more regionally minded piece!
Chris
Where would you fit Reece Nichols in these categories? How might they compare?
Hey Kris –
Just checked out ReeceNichols, looks like a great spot! The brands we’ve highlighted in this piece are national and international brands with a franchise structure (except for ExP), so lumping ReeceNichols in there might be more putting apples in with the oranges. But, from all accounts, RN is growing like crazy and is now the largest independent brokerage in Kansas and Missouri. I know they have a Berkshire Hathaway HomeServices affiliation too, it will be interesting to see how that relationship develops as well.
If this is a brokerage you are considering, I think you’d be in great shape there!
Chris
Thanks Chris.
Yes. I’ve narrowed my options down to Reece, EXP, and KW. All appear to be achieving at a high level.
I also like Century 21 and their new marketing initiatives/branding. It will be interesting to watch their focused marketing platforms over the next 3-5 years.
How about HomeSmart Professionals Real Estate? Similar to the eXp brand, $599. fee on each transaction, no percentage split, cap at $12,000. Cloud base brokerage but does have very attractive brick and mortar locations. eXp pretends to have a variety of locations but in reality are P.O.box sites or shared office sites. I’m currently with KW, with a move to HomeSmart I’m looking at a $1,400.00 a month raise.
Hi John –
Sounds like you’ve done your homework, a $1,400 / month raise is definitely something to be excited about. We’ll have to check HomeSmart Professionals!
Chris
John I challenge you to think much bigger than a $1400 monthly raise. eXp doesnt need brick and mortar. Remember Blockbuster, bankrupted by Netflix streaming! Agents are making more passively building eXp in this early stage than they could have imagined. I saw a 1-year revshare average monthly check of $11,000 this week, the guy just sells home normally and invites those agents he likes to watch an eXp video. Good luck either way!
How about Exit Realty
Hi Myriam –
Thanks for the comment! Yes, Exit has a lot going for it too, definitely a strong presence in the midwest and on the east coast.
Chris
I’ve been in real estate 3.5 years, my wife has been a Realtor for 20 years. Except for a two year stint as a KW owner, she’s been with RE/MAX otherwise. My wife and I moved to eXp in November 2018. The sharing, collaboration, training, and support is leagues ahead of the others. Many of our former KW colleagues report their revenue share with eXp is far and above that which they received with KW. The virtual world is ground breaking. I predict lenders will eventually have an office and clients will use the virtual world. And eventually through esign methods, title companies will set up shop in the virtual world. eXp agents are also now working as sales affiliates for Virbela, the software company that created the eXp virtual world. EXPI purchase Virbela, which is a very strategic move. I’m sold on this business model!
Hi Bill –
Thanks for your input and insight, always great to hear from someone working out in the field with these organizations! Keep up the good work.
Chris
What about Texas Premier Realty.
They say:
An Exceptional Opportunity:
Billy Haggerty, A Texas Realtor
Why Have 440 Texas Realtors Joined Texas Premier Realty?
We only charge a $199 transaction fee. We are the Working Agents Brokerage.
We put more money where it belongs- BACK IN YOUR POCKET!
Agents Pay A $199.00 Transaction Fee This Includes E&O Insurance.
$200.00 Yearly Membership Fee, No Other Fees.
An Exceptional Technology Pkg. $150.00 Yearly.
Leasing & Apartment Locating 10%.
Property Management 10%.
HUD Approved Broker With NAID #
Work From Home. Work Full Time, Part Time No. Minimum Required. No Desk Duty.
3rd Party Leads
Build Your Own Team, Hire Your Own Agents You set the Commissions.
Be Paid At Your Closings, Advertise Your Phone # Not ours
Refer an Agent, Get Paid $500.00 Per Agent
Hi Billy –
Sounds like this is a great regional option for Texas agents! Thanks for sharing!
Chris
I am a brand new realtor and looking at Berkshire Hathaway, what can you tell me about them?
Hi Bill –
Welcome to the business! Berkshire Hathaway is a very compelling choice, especially if you’re working in a higher end market. Berkshire Hathaway HomeServices has a very well established luxury niche, but they are quickly moving into more affordable markets as well. They have a very well branded company and message which is great for agents who don’t have a lot of their own experience to trade on yet.
The big drawback for BHHS is that their cap and splits are typically pretty pricy. In exchange for their reputation, you typically have a desk fee and a lot in splits. Of course, the specifics of every local brokerage are different, so talk to the local BHHS brokerage to get their specific break downs.
Hope this helps!
Chris
Are the Keller Williams and EXP systems of commissions from your downline a form of multi-level marketing, the Amways of Real Estate? I’m not in the business; I’m asking from the perspective of one looking to enter. I want to avoid anything that hints of mlm.
On a separate note, I see Coldwell Banker placed well on the list. There are none where I live, only Coldwell Banker Prime. Can you discuss the difference?
Thanks.
Hey Joe –
Great questions.
The short answer to the MLM questions is no. The pure definition of MLM situation would REQUIRE recruitment of the next tier down in order to be successful, and there are definitely other avenues for success (selling real estate). That being said, it would be shortsighted of me not to mention the fact that there is definitely internal encouragement (both via leadership and company culture) of recruiting. Both of these companies (eXp a little more aggressively than KW) have put their new agent recruitment firmly in the hands of their existing agents, so even though you aren’t required to participate, you will certainly be regularly encouraged to.
As far as Coldwell Banker goes, they are definitely a great option. Coldwell Banker Prime is actually the name of a particular franchise brokerage. Just like most major real estate companies, the individual offices are franchised and owned locally. So, same CB we talked about in the article, just local ownership.
Congrats on getting into the business!
Chris
Hi Chris, Joe et al. I was in multi-level marketing in a company called Equinox in the mid-90s. Multi-level marketing requires marketing a product. The money made in these companies is made from moving product. The profit from the product sale is divided up to the different levels of the MLM. Fundamental to understanding eXp is that the only thing different about working at eXp or a franchise is where you told your regulatory agency that you are hanging your license. There are no monthly fees divided up among agents. There is no product sitting in your garage. You’re not out recruiting a car mechanic to sell vitamins, shampoo or cosmetics. You are merely sharing with fellow Realtors® that you are happy where you work, and they should check it out. I find most agents with whom I speak join for the collaborative, sharing company culture, the lower cap, the better split, the included KVcore and Skyslope, the 35+ hours a week of live training and amazing drag-and-drop marketing center. The opportunity to learn from the best of the best around the country (not just your market center) is huge. Sure, we split 20% up to corporate (KW kicks up 30% + 6%), but here’s a huge difference. A franchise split goes to the investor owners. The eXp split is distributed out of corporate to the agents who built the company. It’s that simple. I made a little video describing MLMs v/ eXp if you’d like to check it out – https://youtu.be/qiT_ALUuGRs You can also text myexp to 31996 for an introduction to the company. I hope this helped a little ~ Rick Janson in Denver, CO
Hey Rick, this is great info. Thanks for posting!
Joe, the mindset of a true MLM is recruit first, sell later. eXp is not that. What broker doesn’t recruit? I don’t recruit. I have had people ask me about joining and a couple have. I see it as a company of “attraction” rather than “promotion”.
Hope that helps.
Very helpful article. Reminder, it always comes back to your individual brokerage regarding office culture. It`s not all black and white! Lots of grey areas!
Enrico – Thanks for the comment. You’re absolutely right. At the end of the day, the biggest factors in your office culture are the people that you work. Great insight!
Chris
Thank you for this!! It’s a great long form post that should be passed on to newly licensed agents. That’s what I did. Obviously you can’t get super regional. So focusing on brands likely to be in most markets is the right strategy. I don’t see it as a slight to leave some companies out. It’s just logical. Again, thank you!
Hi Chris,
I work in the Los Angeles market where we have brands like Hilton/Hyland, Rodeo Realty and the list goes on. We’ve also seen the emergence of Compass, any thoughts on them?
Bill
Hi Chris,
I work in the Los Angeles market and we’re seeing the emergence of Compass, any thoughts on them?
Bill
Hi Bill –
Yes, Compass is a fast growing brokerage that focuses on technology and agent support. They are very vocal and often interviewed, but they also come with their fair share of controversy. Compass shows no signs of slowing down, agents should definitely consider them if they can!
Chris
Nice write up of eXp Realty. But who doesn’t like flexibility? That works for every agent – not just part time. You under-emphasized the financial benefits: stock awards (not options) from every day activities, stock purchases at a discount, and revenue share that beats profit share substantially every time. However, indeed, I have a great team of part timers – house wives and high tech workers getting constant referrals from the Chinese community here in Greater Seattle.
Hi Roland, I really enjoy your article. I am a brand new realtor as well and looking at Adams, Cameron & Co. Realtor in FL, what can you tell me about them?
Hi Nelly –
Thanks for the comment. I don’t have any personal experience with this particular firm, but maybe some our other readers do? Do any of our Florida peeps have any insight here?
Chris
This article and comments were extremely helpful. Thank you for sharing these insights!
Hi Shefali –
So glad this was helpful. Thanks for the comment!
Chris
Just a heads up Chris,
There are a lot of full time agents at eXp Realty. This article is pretty accurate from my experience working at C-21, KW and now eXp…but you make it seem as though eXp is geared toward part timers…which it is not. We are geared toward all agents 🙂
I’ve been in this business for 12 years and with eXp for 1.5 years. You can literally be full time or part time and still be successful.
Hi Maureen – Thanks for the comment! I appreciate your thoughts on eXp Realty. Though I think that eXp is a great option for part-time real estate agents, I certainly don’t mean that it isn’t a great option for full time agents.
Hope you’re finding lots of great success in 2019!
Chris
Thanks for the great tips, Chris!
As a “new agent” looking for the “MOST NEW Agent Training program” which company do you believe provides the greatest value for new agents to help them transition into becoming successful agents and why? I’m currently in a standstill between KW and C21
Hi Eduardo –
Congrats on getting into the business! Both companies you listed have a lot of great benefits for new agents. Keller Williams is known industry wide for being a leader in the training space, and that includes the new agent training and professional development.
That being said, remember that most new agents report that their local broker and office are the most influential guides in their development as a real estate professional. If it were me, I’d do a little side by side comparison of what each of your local office options provide you and decide where you think your biggest opportunities are.
Good luck, let me know what you decide!
Chris
Hi Eduardo ~ Excellent question, and training is key. I wish I had humbled myself in my early years and found a coach like Tim & Julie Harris or a good mentor. As Chris accurately reports, at most firms, the leaders in your local office are clutch to getting off to a good start. At eXp, as we are virtual, you can learn from the best in the country, regardless of who is in your local area. Additionally, we have a mentorship program wherein we pair you up with a local, trained mentor who meets you in person and walks you through your first three deals to get you comfortable. Employing brokers are constantly teaching contracts classes and your personal sponsor (and his/her sponsors) will all have a financial incentive in seeing that you are successful out of the gate. Here is a sample of what a week’s training calendar looks like in our virtual world. Beyond the formal trainings, it’s the first firm that I’ve experienced where you can call any agent in the firm, and they will take your call and share what they know. I’ve met, bonded with and learned from so many agents around the country, it’s been truly incredible. For the record, I was an employing broker for 16 years and am now full-time with eXp. For more information, you can text the word MYEXP to 31996. For a free coaching call, text FREECALL to 31996.
SUNDAY
Real Estate 101
In these sessions, we will cover mastering the fundamentals of Prospecting, Presenting, Follow Up, Building Your Database, Communicating To Your Database, Lead Generation, Scripts and Dialogue, Prospecting vs Marketing and much more.
MONDAY
Farming for Dollars
SkySlope Basic Training
XCamp, technology in real estate
Goal Setting for Agents
SkySlope Advanced Training
Productivity for Capping
TUESDAY
Database Management Fundamentals
eXp Agent Orientation
Lead Generation Workshop
Listing Presentation Training
Making It Rain – Lead Generation
Prospecting and Lead Generation
Team Building with kvCORE
Brand and Empower Yourself with Video
WEDNESDAY
Build Your Revenue Share
eXp World Training
Grow, Build and Scale with Video
eXpand Mentor Certification
Introduction to eXp Realty
SkySlope Basic Training
eXp Agent Orientation
eXp Marketing Center Training
THURSDAY
eXp Enterprise Training
Introduction to eXp Realty in Spanish
The Math Behind Lead Generation
Making It Rain – Lead Generation
Getting Started with RPR®
Accounting 101
eXp Agent Orientation
kvCORE – Advanced Training
Social Media Mastermind
FRIDAY
ICONversations
Introduction to eXp Realty
kvCORE – Q&A
Video For Real Estate
Hey Rick, this is also great info and helpful for readers. Thanks for posting!
Hi!
Do you have any information on Scope Realty in NYC?
Hi Charles –
I don’t have any specific experience or first hand knowledge about Scope Realty. From the look of their website and social presence, they appear to be on the up and up, and were named a top 100 Businesses in NYC in 2018 as well.
Are you new to the business, or considering a change?
Chris
I don’t agree with the comment Part Time Agents for eXp Realty, LLC. I’m with eXp and far from being a part time agent. How do you become number 4 on your list with part time agents? eXp Realty, LLC is a great option for all as it offers a total technology solution package. to include low fees, CRM, 888 number, free website, lead generation tools, marketing materials, support at all levels, calibration like no one else and most of all the training programs that are in place with 25+ hours per week. If your interested in learning more visit donaldmaycott.exprealty.careers.
Hi Donald –
Thanks for the comment. I agree, there are a lot of great full time opportunities with eXp, one of the main reasons they made our list. I didn’t say that eXp was ONLY good for part-timers, just that their brokerage model offered the flexibility to make it very appealing to folks who have yet to make the jump to full time.
Thanks!
Chris
Looks like Realogy is well represented, but what about ERA Real Estate?
Hi John –
Great suggestion, we will definitely consider them when we revisit this article!
Chris
Where do you place Redfin in the mix? I opened the west side of the state of Michigan for them and I’m moving on after four years. Your article is appreciated as I evaluate what I do next in the real estate arena.
I was definitely charged a desk fee at C21 for over a year.
Yikes. How much did you pay? Did you have any experience? You can submit anonymously if you’d like.
Such an interesting article!
Uhmm. I’m not in real estate but have been looking into it.
Not sure where to start.
Any advice that I can research?
Where can I get my license in southern California?
What’s the best option for someone who doesnt have a lot of funds?
I wouls love some wisdom for this possinle career jump!
Thanks!!
Hi Erwin –
A lot to unpack here! Real estate is a great industry to get into, lots of opportunity here!
Getting your license in California starts with going through the pre-licensing process. You can do that locally in a classroom, but I’d suggest going the online route. We wrote an in-depth review of some of our favorite online real estate schools, check it out here: https://theclose.com/best-online-real-estate-school/
Good luck!
Very interesting article. Do you or anyone out there have any knowledge of Magnolia Properties? I am considering their Jacksonville Fl location.
Hi Sue,
Thanks for the comment! That isn’t a brokerage we have any direct experience with, but they look active and very popular in that area! We’d love to hear how your experience is if you do decide to go with them!
Chris
Do you have any researched information on Better Homes and Garden realty? I recently passed my exam and I’m doing my due diligence to find a broker to hang my license up with and after meeting with several brokerages, they are one of the “finalists” on my list. They pinged my radar because I feel like they have brand recognition due to their publications and television programming. Any insight would be appreciated.
Hi Ray –
Congrats on passing your exam! Better Homes and Gardens has a great reputation and are well represented at all the major conferences. We’ve heard Joe Rand, a BH&G principal partner, speak at a couple of different conferences now, he’s a very dynamic guy and it seems like the company itself is very dynamic.
That being said, remember that what is going to affect your business the most is the people that you will work with on a regular basis in your local office. If you’re feeling good about them, I would say that BH&G definitely deserves a spot on the short list!
Let me know what you decide on!
Chris
Hello – I am a new agent and was looking at D’Aprile Properties. They appeal to me because of the coaching and training. Do you have any thoughts or research on D’Aprile properties? I would appreciate your insight.
Thanks,
Barb
Hi Barbara –
Thanks for the comment. I don’t have any specific experience with this brand, though from the looks of their marketing and website, they seem to have their ducks in a row! Coaching and training is a fantastic reason to choose a brokerage, that sort of mentorship, especially when you’re transitioning from one brokerage to another is very important. If they can make the money work for you too, this sounds like a winner!
Chris
Hello Chris,
I to am a fairly new agent in NJ. I’m torn between agencies to work for. Been thinking about KW, great recognition in the market, as well as CB which ya been around for a longtime and is a reputable company, third company is EXP which I’ve done some research on. But still torn between which is the best fit for me, my schedule, and has best compensation and training plans. Any suggestions???
Hi Jorge –
Sounds like you’ve got some great options there, any of them would be beneficial to you.
When trying to decide between brokerages, I always suggest you investigate the brands as a whole, but at the end of the day, base your decision on the peeps you’ll be working with every day.
In the case of Keller Williams and Coldwell Banker, you’ll have interactions with people in your local office. Brand recognition and national training programs are great, but the face to face interactions you have every week are going to affect your productivity and success more than anything else. So, interview, meet people, shake hands, get a feel for the office culture.
eXp doesn’t have a physical location, so in that instance, it is really a decision as to whether the remote lifestyle is the one you want. That can be a tough adjustment for some people who don’t have experience working from home, and so with a new career to boot, make sure you’re ready for that.
All three of these programs will offer great training (eXp has literally thousands of recorded training modules and live training every day, KW is known as an industry leader for community style training, and CB is my pick for the best option for new agents), a competitive package (both KW and eXp have a very competitive split, plus options for down the line income if you recruit, and CB’s plans are also competitive, but determined at the office level).
I’d say, look at what your week-to-week work week is going to look like in each place and go with where you feel the most productive and where you have the most potential! I’d love to hear what you decide, keep us in the loop!
Chris
Hey Chris!
Thanks for the great write up. I live in Miami and will be starting my 63 hour pre-license training next week. A friend introduced me to eXp, and I’d love to work with him, but I’m looking for my best development as an agent. He lives in Texas, and is not transacting too much, and so I’m concerned about lack of mentorship there. I am leaving a successful sales career in a different industry, so I have a sales background, I’m just wondering if eXp could be a bad move for me with zero real estate experience, compared with a local brokerage that provides local mentorship and support.
Your thoughts are appreciated greatly!
Hi Daniel –
Thanks for the comment. I definitely wouldn’t call eXp a bad move for you, but I would challenge you to assess how you learn and what sort of professional development resonates with you. The fact is, in the real estate industry, there is a learning curve. You’ll learn a LOT in your pre-license classes, but, just like in any niche industry, there will be street-smarts you won’t get until you’re working. A traditional brokerage model is going to give you a hands-on opportunity to learn from people in your office, whereas a virtual brokerage like eXp will provide that virtually. To be fair, eXp has a LOT of training opportunities, but for people who aren’t used to a remote work-life, that can be a challenging adjustment at first, and might not be the best idea if you’re also trying to adjust to a new career path! All in all, I’d say it’s worth your time to investigate the brick and mortar options, see what raises your eyebrows.
Good Luck!
Chris
Hi Chris,
Very helpful writeup! What can you tell me about realtor.com?
Hi Lisa –
Glad to help! Realtor.com is a site very similar to Zillow as far as consumer functionality goes. Their marketing model for real estate agents is different, but it is still a popular place for real estate agents to spend dollars. They do play second (or maybe even third) fiddle to Zillow as far as traffic and reach goes, but they definitely still get a decent amount of exposure.
Are you considering getting into marketing yourself there?
Chris
Hi Chris-
I’m considering joining a friend who is currently a successful KW agent. But the eXp venture looks promising over the long haul of a career and for presently, as I would like to start part-time. However, as a new agent, I think I would value the support KW and my friend have to offer. Is there any real estate etiquette that says I couldn’t get my start with KW and when I feel comfortable make a switch to eXp? Is this an industry where it pays to stay with one company, or can I make moves throughout my career based on my life circumstances?
Hi Randy – First of all congrats on your soon-to-be entrance into real estate. As for your question, it is absolutely ok for you to start part-time, and it is practically expected that agents will move around, especially in the earlier parts of their career. Of course, most brokerages will tell you they want you to stay your entire career – agent retention is big business. Until you find your long term brokerage, the average stay at a brokerage is typically less than 2 years, so no stress about making a jump. If it were me, I wouldn’t make your plans public to the brokerage, just keep evaluating your spot and your opportunities elsewhere, and when the time is right, make that leap!
Chris
I believe there is a small typo in the Keller Williams grid showing post cap. It should read 100% to Agent not 64%.
Great read!
Thanks
Hi Lance –
Great catch! We’ve corrected the table, appreciate your keen eye.
Chris
I’m considering a move from one of your Top 5 to a locally owned brokerage Premiere Property Group. What is any information can you share with me pros and cons?
Hey Eileen, we don’t have a ton of info on Premier Property Group. Just remember to ask a lot of questions on your interview.
Do you know anything about Tesla? I get an email every month stating that they only charge $49/transaction and a $49/month fee. You get 100% commission, no cap. It seems very tempting with the 100% commission, but is it too good to be true? Any insight woyld be appreciated!
Hi John –
I was unaware of anything happening from Tesla in this space! I’ll have to take a look. Thanks!
Chris
Great article! I have been licensed for 4 years and have been with Coldwell Banker for about 2 years. The commission splits are getting ridiculous and leads have a 30-35% fee on top of that. I am looking for another brokerage to move to now. I’m thinking about EXP but worry that the access to help if I have a problem or question outside of regular business hours may be limited or non-existent. Any info on assistance to agents?
Also, what importance do you think name recognition of a brokerage plays in an agent’s success?
Hey Linda,
I think this is more of an individual brokerage culture thing rather than a corporate thing. Yes, for example Keller Williams has great training, but an individual broker under another franchise might set you up with a mentor, or have their own internal training and help systems. Also, since you’ve been in the industry a few years, you will likely require less help than newbie agents so this might not be as big an issue as you think. For example, if you get a 75% split, that extra help might not seem so important right? Also, getting leads with a 30% fee is better than not getting any leads at all. If you’re curious about what the competition offers, set up some interviews and see what they offer. You never know until you ask.