eXp Realty

What Experienced Agents REALLY Want in a Brokerage

Last updated on: Published by: John Kinnunen 1
What agents really want in a brokerage

What do agents really want in a brokerage? The consensus is clear. Attention and Integrity. I think both of these cover a lot of ground. Agents change brokerages all the time, but why? What makes them switch? One suggestion could be the mere fact they are becoming brokers themselves and while some go this route, it’s usually not the majority. Most want and appreciate the care and responsibility of hanging their license with a qualified broker.

The agent doesn’t have to pay the extra taxes and insurance but they also won’t get the full benefit of doing things “their way”. While some brokerages allow for a free-for-all agency, some are quite strict and confine their agents to tough standards and limitations.

But what makes a good brokerage? For the client and the agent? I did some digging to find out what agents really want. To be left alone? To have their hand held? No restrictions? Surprisingly it came down to attention and integrity. Here’s what some agents had to say when asked:

What would make you change brokerages? Why would you go to one brokerage over another?

“We’ve switched once (different franchise office, same brand) and it was because of different rules for different agents. Some agents were allowed to have direct phone lines on their signs, and we were told “no” when we asked and were told “it wouldn’t make any difference to our business”. The brokers just wanted to feed the duty desk agents. We’d work to get listings and every new listing someone from our office would show the new listing within the first 24 hours on market.” – Bill

“Years ago before I opened our own firm the broker I had been with said for years – we are here to serve you. Well, they hired on more brokers because they were huge by then…. And quality went way down.” – Anna Kruchten

“The integrity of the Designated broker or owner. I switched offices twice for that reason.” – Carol

“Lack of availability on the part of the broker or manager to answer questions or help if needed. That’s why I left Prudential. My broker had 10 offices and when it was necessary for me to talk to him he was not often immediately available. So I got a Brokers license. And then I started wondering why I was paying someone that wasn’t available” – Candice Donofrio

“ My former broker was rarely available and the one time I asked him to review an offer he asked why I wanted him to look at it. I was new was why. He could not care less” – Mike Cooper

“One reputation over the other. My former brokerage had my friends refuse to list with me because of the broker and the other agents all of whom were less desirable people” – Susan

“Atmosphere/management – a poor manager, poor training, bad attitude of management, lack of support for agents – can all make one particular office much less desirable than another.” – Kat Palmiotti

Help When Needed

This clearly is a necessity, even with experienced agents. Some just want to be loosed and run with it but when the time comes, they need help, attention and consideration. We all want to be validated and when you’re giving up some of your transaction money, either in a transaction fee, desk fee or split, you want that money to count for something, not just the insurance you know they’re carrying for you. Whether you are a first-time agent or have been in the office for 10 years, your broker is your lifeline when needed.

What Experienced Agents REALLY Want in a Brokerage

Integrity

No one likes needy agents but brokers that are not available, irresponsible, annoyed at you or just plain rude makes a work environment that causes chaos, frustration and resentment. If no one wants to work with your broker as Susan said above, it not only affects the brokerage but the individual agent’s livelihood. That alone should prompt an agent to switch brokerages.

“I’ve been with eXp Realty since I started and have grown my business in just one year to the top closing agent in my Texas area. I know that the support and flexibility has motivated me to push past many of my colleagues.” – David Fleming, eXp Agent

Growing and Learning

We all need to grow and learn, otherwise, we die on the vine. But that’s exactly what some brokerages do and their agents can follow suit. If a brokerage is stuck in the 20th century, newer, more tech-driven brokerages are going to fly by them at warp speed. For a brokerage to keep up with its agents and the real estate industry, it must learn to adapt, grow, change, and learn. Clients expect it and agents should as well.

“I never really needed my mgr for many years. We disagreed on many fronts but I respected our differing opinions. Now I don’t talk to my broker at all as I consider him useless. The manager can make or break the office that is true. I also think that the overall thoughts of the office regarding new technology is important. You gotta learn to grow. –” Lyn

A Great Brokerage – Education, Partnership, Attention, Integrity

The four cornerstones of a great brokerage. This not only will offer you a great place to hang your license but will grow your business because more clients will want to work with you and the brokerage and agents will tend to be more productive with better support when they need it. If the word gets out the brokerage support and encourages their agents, there is no better advertising.

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eXp Realty – Become an empowered real estate agent – Focused coaching, accountability & team support – John Kinnunen

More Advice for Agents:

REDX for Real Estate Agents – Do I Need it?

How to Increase Your Real Estate Salary

What You Need to Know as an eXp Agent

Is Ownerly a Good Valuation Tool?

eXp Realty Stock 101: What you need to know as an agent

Contact Me At Any Time for More Information on Brokerages and Real Estate Agency

 

 

eXp Realty

What is Ownerly? How to Properly Value a Home

Last updated on: Published by: Tim 0
What is Ownerly? How to Properly Value a Home

What is Ownerly? How to Properly Value a Home

Ownerly.com says that they take “the guesswork out of your home value estimate”, but don’t a lot of other home valuation websites do the same? How accurate are they and who do you go to when you need a professional grade estimate of a particular property’s value?

What is Ownerly?

Ownerly is a free home valuation tool that was created in 2018 and provides data and insight into the hands of anyone. We all know that a family’s largest asset is typically the house so what Ownerly does is put the information that is typically available only to real estate agents into the hands of the general public.

Ownerly uses decades of experience in data with a team that understands the value of that data. The idea behind the Ownerly Tool is to bridge the gap to equip homeowners with the insight to make the right investment decisions. Ownerly also provides information on mortgage rates, lenders and loan providers, homeowners insurance, and even home renovation costs. Even though a lot of this information is readily available to the general public, Ownerly offers all of it at one location. This web-based tool is also an app available on both Google Play and the Apple Store.

With the app, you can check the home’s valued estimate, get notified when there are new updates on that value, see recent sales data about a neighborhood and check the property’s appreciation and history.

How much does it cost?

Ownerly is free to anyone and the process works in three steps; search for other properties’ addresses, provide a little bit more information about the sale or home situation, enter an email to get a free report. The mission is to bring the data that professionals use directly to the homeowners but is it accurate?

We’ve Artie talked about how Zillow’s Zestimate can be wildly inaccurate and many of these companies use the same automated valuation models that all the rest of them use. These algorithms to compare data that the user provides so the more data that a user or multiple users provide, the more accurate the valuation can become.

The company’s algorithm analyzes similar homes in the area just like a real estate agent or appraiser might do. The difference is that Ownerly shows all this information in one location. The goal is so that the user doesn’t have to visit multiple websites to get the information they need.

Any Downsides?

Because the application uses user data, if there is not enough user data, the algorithm may not be able to give an accurate estimate or valuation. This is a relatively new platform and there are not a lot of reviews or even users in order to make the platform accurate. The pricing model is not fully developed and currently, the company is making a profit by selling its user’s data to other real estate agents, banks, lenders, and other real estate professionals. These professionals join a partner network and the company uses paid advertising and content marketing to capture web traffic and then cells that lead to their partner network.

Should you join the Partner Network?

Joining Ownerly’s partner network may be worth it if you have the time and budget to explore a new lead source. There are currently 50,000 users, which can provide a lot of high-quality leads. On their website are looking to buy or sell a home so this could be a lucrative source for new leads.

Is it worth it?

That all depends on your area, if you’d like to broaden where you receive leads from, and how comfortable you feel jumping into a relatively new business. It has been around for about a decade and plans to keep growing. Even though doesn’t have a lot of reviews now, we are finding that it provides legitimate data and can give real estate agents access to leads. Of course, the ultimate estimate really comes from an appraisal and a qualified real estate agent that can provide an accurate CMA.

For more information or if you have questions about Ownerly.com let me know at any time.

More Advice for Agents:

REDX for Real Estate Agents – Do I Need it?

How to Increase Your Real Estate Salary

What You Need to Know as an eXp Agent

More on Real Estate Law – External

Contact Me At Any Time for More Information on CMA’s and Real Estate Agency

eXp Realty

How to Calculate a CMA: Comparative Market Analysis

Last updated on: Published by: John Kinnunen 0
how to calculate a cma

 

Creating or calculating a CMA or comparative market analysis is one of the first things real estate agent should know how to do. This is one of the major ways real estate agents price a home to be competitive in the current market. Regardless of the market, the CMA may change from week to week or month to month but it’s important to understand how to calculate a CMA not only for your fiduciary duty as a real estate agent but to gain an overall accurate sense of them current market.

What is a CMA

A CMA stands for “comparative market analysis” or sometimes “competitive Market Analysis”. The process is finding similar properties to the one that you are trying to sell and comparing the estimated home value of one home to another. It’s similar to an appraisal without actually being an appraisal. A CMA is determined by the real estate agent rather than an appraiser and is all part of the buying and selling process.

A CMA is the best way to determine the market value of a property. This crucial tool for listing agents is the key to getting a home shown quickly and sold fast. However, learning to complete and accurately calculate a CMA isn’t normally taught in real estate education courses. Many real estate agents get into the business without the necessary training or strategies for a CMA. For a real estate agent, generating a timely and accurate CMA is one of the best tools to gain new business and prospective clients.

Isn’t a CMA the same thing as the Zillow Zestimate?

The famous Zillow Zestimate is a controversial tool that the big real estate company uses to entice sellers with the prospect of what their home could be worth. The biggest problem with this analysis is that Zillow can only pull information from public records. It lacks the local information about the neighborhoods, changes to the house, and other details that might affect the current value. In one article by the Seattle Times, Zillow’s Zestimate overvalued a Washington state home by 700%. This is definitely a case of algorithms gone wrong. While a 700% over market value might sound attractive to sellers, chances are you’re not going to get the buyer to bite.

How to calculate a CMA

#1. Gather all the information and data about the property.

The best way to start out calculating a CMA is to gather as much information as possible about the property. You will need to gather at the bare minimum including but not limited to:

  • Location, address, municipality
  • Total square footage including, and garage
  • Number of bedrooms and bathrooms
  • Total number of rooms
  • Acreage if applicable
  • Year built
  • Recent renovations and remodeling projects
  • Interior finishes and materials
  • External or additional features such as swimming pools, outbuildings, barns, and elaborate landscaping

#2. Collect tax information

Information from the local tax assessor will provide you with some basis of standard about the property. Not all property taxes are created equal and a lot of municipalities have different tax rates so it’s important to understand the subject property and surrounding properties and factor in the tax assessment is typically lower than market value. The tax information should point out the millage rate (or mill rate, the amount of tax payable per dollar of a property’s value) and the properties assessed value to compare your final valuation two.

#3. Collect the properties previous sale or listing data.

While this is not the end all/be all for a CMA, it can give you a good idea in determining the market value of the house, as one of the most important factors of determining market value is the market itself.

An appraiser will typically gather all recently sold listings that match the subject property as close as possible. However, there’s more information to be gleaned from the actual subject property sale compared to the market at time of sale. For instance, the last time the property was sold it may have gone under contract in a couple of days. This information can suggest that there was significant demand for the property. This also could mean that the previous sale left money on the table, something that appraisers and real estate agents take into account.

The list price, final sale price, terms, any price adjustments, and days on the market will be important data in determining the best CMA for the property currently.

Even collecting unsold listing data is important in a comparative market analysis. If the property was listed and never sold, this also plays a part in the current market. For whatever reason, if the property didn’t sell, it’s important to compare the reasons behind that unsold listing and today. Have there been renovations completed? Did a home inspection reveal too many issues? Finding out the reason that the listing did not sell can help you price it correctly this time.

#4. Recent comparable sales.

Here we go; this is where you get to look at recently sold properties that are similar to the subject property. In hot markets, it may be beneficial to only go back three months and in certain markets only back one month, especially if there are a lot of homes being sold. However, most appraisers look back at least six months to get a good idea of the market in a particular area and similar to the subject property over the last six months. This really is the heart of what a CMA is as an appraiser would up or down based on similar or different features.

Using the MLS, locate 4 to 6 sold properties that match or are as close to the subject property as possible. The closer the sale price to the listing, the more accurate those comparable sales will be. If you are very limited in comparable sales, you may need to go back even farther.

If there are limited sales or no exact matches exist, you may need to expand your criteria to get better results. Custom homes, luxury homes, or properties in smaller communities often have this challenge. However, try not to allow different housing types into the equation. Condo living, townhouse living, and single detached properties are all quite different from each other.

#5. Compare existing properties for sale.

Think of it this way, if there are three homes currently on the market that are similar to the subject property and all of them are priced within $20,000 of each other, the best way to sell the property quickly is to offer something more for less. This doesn’t necessarily have to mean if you have a similar property with better features and you price it the same horse just slightly below the next similar property, chances are that home will sell faster.

As a real estate agent, contact the listing agent of a property that is recently gone under contract. If you informed that listing agent that you have a property that’s similar going on the market soon, they may have other buyers waiting in the wings. This could make for a quick sale an excellent possibility.

#6. Don’t neglect the micro-market.

It’s amazing how markets can change from one neighborhood to another, even with in a one square mile. You’ll want to know what’s happening with in the neighborhood in which you are listing. If there’s a major road construction going on in one neighborhood, train tracks through another, or an established neighborhood just one block over with mature landscaping and a quieter atmosphere, all of those factors will play into the price of the subject property. Ask yourself if there’s anything happening in the immediate area of the property that could drive the price of the home up or down?

#7. Putting it all together.

Once you’ve started with the properties history, considered comparables and micro trends, you’ll want to package the results up into a listing presentation. Showing your work, putting together a short but concise report demonstrating how you came up with the number is going to increase your clients a buy-in and up your chances of getting the listing.

Related: How to Make 100K Your First Year in Real Estate

What about difficult, rare, or fixer-upper properties?

Not every home is going to be a cookie-cutter, crystal-clear, cut and dry comparable. You may run across uniquely remodeled homes, custom homes with extravagant layouts and architectural designs, or fixer-upper properties. All of these require unique CMA situations. For a fixer-upper, you can determine it as either nice, average, or needs work. For remodeled homes, make sure you specify in the MLS search the upgrades because it can greatly affect the homes value in comparison with properties that are newly constructed or of had multiple upgrades over time. For properties in rural areas such as farms, you may need to be more flexible with your filters and extend your search back at least one year.

FAQ for CMA:

What is the difference between a CMA and an appraisal?

There are subtle differences but the biggest being the appraisal is conducted by a licensed appraiser, understanding the current value for purposes of lending or insurance. A CMA is performed by a real estate agent to determine list or sale price.

What if the range of comparables is too wide?

If your comparables are not similar enough to the subject property you may need to readjust your comparables and find out if your overestimating or underestimating certain markets and whether or not you can adjust based on more comparables versus less.

How many comparables should you use in a CMA?

The more comparables the better as long as they are accurate. Offering a homeowner dozens of comparables when doing a CMA may seem a little overkill but when determining the price, finding the good, better, best scenario and offering the seller three or four comparables when you actually did your research with 10 or 12 is the best way to go.

Where should you get comps data?

The most accurate place to get your comparable information is from the local MLS. Big real estate companies are usually skewed and their algorithms can be off so tax records and the local MLS are usually the best. Third-party sites may not give you an accurate history of the property such as days on the market and price changes.

Calculating the correct CMA for a home does take some research, time, and experience. Utilizing all tools available, being as accurate as possible, and then being confident in your listing presentation will likely garner you the business and revenue you need.

More Advice for Agents:

REDX for Real Estate Agents – Do I Need it?

How to Increase Your Real Estate Salary

What You Need to Know as an eXp Agent

8 Ways to Determine Your Home’s Value and Price – External

 

Contact Me At Any Time for More Information on CMA’s and Real Estate Agency

eXp Realty

REDX for Real Estate – What is it and Why Do I Need it?

Last updated on: Published by: John Kinnunen 0

What is REDX?

REDX is a prospecting platform for real estate agents delivering leads and listings each day. It provides leads from different sources to connect agents with qualified buyers and sellers to simplify the prospecting process. It uses an interface call Vortex allowing agents to organize all of their data in one, simple place. Similar to a CRM, REDX allows agents to keep leads, former clients, and their book of business all in one place eliminating the need for different platforms.

It offer more than just phone numbers; it connects real estate agents with homeowners that are actively looking to sell their home, something that is in short supply in today’s market.

REDX for Real Estate - What is it and Why Do I Need it?

REDX offers multiple lead sources for agents. This is just any, old lead that fizzles out and dies. The majority of leads are quality leads that have already been vetted. Every lead comes with a verified and bona fide phone number from a variety of sources such as expired leads, FRBOs, FSBOs, bank owned and foreclosure leads. The leads are pulled from the MLS, classifieds, newspapers, magazines, and even County Court tax records. The goal is to let REDX do all the heavy lifting for you so that you can focus on the leads and your business.

Related: Increase Your Real Estate Agent Salary

REDX offers Expired Listings

REDX offers a variety of expired listings that are pulled from the market. These in addition to older expired listings provide you with potential leads on the most qualified homeowners. No cold calling here. Agents receive specific data for each of the expired listings so that they are able to do their homework ahead of time and be more prepared contacting the lead. Expired leads pricing starts at $59.99

GEO Leads

REDX also provides agents with GEO leads. GEO Leads allow agents to personalize their search so the results are optimized for your business. This geographic farming tool utilized by REDX will provide the agent leads for a generalized area, specific neighborhood, or even a specific address. REDX will provide the information to the agent and will filter out unqualified homeowners. GEO Leads start at $49.99

FRBO & FSBO

REDX will also filter out for sale by owner leads and qualify them before depositing them into your REDX platform. The FRBO database will provide agents with a list of investors and property owners unable to rent a vacant property and may be more inclined to sell. Creating consistently lead to sources can provide agents with the tools they need to focus on their business without cold calling and constantly marketing to unqualified homeowners. FRBO or For Rent by Owner are also an option for lead generating. FSBO leads start at $39.99 and FRBO start at $79.99

Pre-Foreclosure and REO

REDX also offers a database of pre-foreclosure and REO leads through local tax records. Agents can take advantage of the information provided and begin to work to lead immediately rather than qualify each and everyone. Pre-Forclosure pricing starts at $39.99

So, you can easily see how specific and tailored REDX can be for real estate agents. Whatever you want to work with they have a plan and if you want to work multiple facets, you can choose those specific leads.

How does REDX Work?

REDX for Real Estate - What is it and Why Do I Need it?

REDX offers a tool called the “Storm Dialer”. This is an additional fee each month that can simplify the calling process. This system will automatically dial leads from the platform helping you streamline your real estate business. There are additional upgrades as well allowing you to multitask and call several leads at once. This application can automatically leave voicemails for any unanswered phone calls.

REDX works with Vortex®, their trademarked plan for saving time by prioritizing who you call, providing built-in scripts and objection handlers, visualize new inventory with a clean and clear interface and sets reminders to keep the leads hot.

Setting more listing appointments and closing on those is really what this is all about. Stop wasting your time punching in a dead number. Hear “hello” more often with the power dialer and leave a pre-recorded voicemail so you don’t lose a lead… ever.

How Does REDX Compare with Other, Similar Products?

REDX has been compared to other similar products such as Vulcan 7. While operating similar to REDX, it lacks a multiline dialer option and is more expensive.

Landvoice is another alternative to REDX providing comprehensive leads through a variety of similar avenues. However, Landvoice does not offer an integrated dialer system. Agents will need to purchase their own dialer separately and connected to the lead management platform.

Mojo is another REDX competitor offering multi-line dialer options and different lead categories and can integrate with other lead providers including REDX. Roughly around the same price, this could be another potential option. This option imports data and posts automatically from one of their preferred data partners, create calling lists and manages tasks with follow-up calls and setting appointments.

Related: How to Make 100K in Your First Year of Real Estate

Start with quality leads, commit to the process and let the platform back you up along the way. Take advantage of the live phone support and even role-playing until you are comfortable with the system.

Is REDX for you?

REDX is certainly top of its game in functionality, features, and price. If collecting a database, letting another program do the hard work for you, and being conscious of your marketing budget is appropriate for your real estate business, contact me at any time. As a qualified alternative to several higher-priced options, REDX may be the ideal lead-generating solution you need.

The long and short of it is this:

Connect with more potential prospects and leads

Get the accurate contact information

Stay on task and productive

Keep in touch with all your contacts

Stay integrated with a system that works.

Ready to get started? Contact me today!

eXp Realty

Increasing Your Real Estate Agent Salary

Last updated on: Published by: John Kinnunen 0

Real Estate is really a limitless industry. The harder you work the more you can potentially make. But getting started in the real estate game is a whole different ballgame. Establishing and maintaining a steady income can take some time, or you can partner with other experts or another brokerage to earn more of your comission.

The average first-year real estate agent salary is typically less than $15,000. It goes up 100% to 150% between the years one and three depending on how hard they’re really working. However, the very best can earn upwards of $500,000 or more. You might think that selling one home with a $10,000 commission is great but do then only three or four times a year, and you’re at the poverty line.

More than 60% of real estate agents do this as a second business or side hustle and actually make the majority of their income with another full-time day job. For those that really want to get involved in the real estate industry, pushing hard, powering through, and doing the work necessary to build a book of business and referrals to sustain them for that $500,000 income.

Increasing Your Real Estate Agent Salary

So is not all it takes to earn a lucrative real estate agent salary? Hard work? Not necessarily.

1. Increase the sources.

2019, the annual real estate agent salary is just $45,000. The range is typically between $40,000 and $52,000. (Were not going to talk about 2020 as it was a very unusual and non-typical real estate market) being a real estate agent means you’re technically your own boss and that means you’re responsible for paying any out-of-pocket costs such as advertising, website management, transportation, healthcare, and marketing.

This can add up quickly and before you know it, you’ve got just as much going out as you have coming in; not really making a lot of money at this point, are you? This is why a lot of real estate agents supplement their income with other income sources but that still could mean in the way of real estate such as appraisals, home inspections, writing contracts, property management, market valuations, or managing a brokerage. However, we’re talking about a real estate salary, not figuring out ways to make up the difference in the meantime.

2. Don’t limit your niche.

Some agents work solely with homeowners and sellers while some work solely on the buyers agent side. While others probably aside that you prefer, limiting it to one side or the other could be limiting your income by half. While dual agency (representing both the buyer and the seller on the same property) is a sticky subject and actually not legal in a lot of states, representing the same client for both buying and selling a property is ideal. That client only needs to go to one agent to sell their property and by another.

Of course, this really only works when you are buying and selling within the same area. If you’re buying out-of-state or selling out-of-state, that agent may not be licensed in another area and is usually not convenient to travel across state lines to buy or sell real estate regardless of the commission.

While just about every agent has some sort of niche be it short sales, foreclosures, REO’s, probate, or like we mentioned before, buyer and seller’s agent, limiting yourself to one niche can really limit your income. While it can be difficult to advertise for everything, there are ways to promote yourself regardless of the type of transaction you want to facilitate.

Of course, not every agent is proficient in probate and short sales, which are a different animal altogether. Experience really is the key to these types of transactions. But, broadening your horizons to both buyers and sellers will open up the market to more potential leads, especially in a seller’s market when there are very few sellers and a lot of buyers and vice versa.

3. Invest in real estate yourself.

Increasing Your Realtor Salary

A great way to increase your Realtor® salary is to get into the real estate game yourself. Actually investing in real estate yourself is a great way to increase your income as an agent. You are in the perfect position to be a successful investor. You probably know listings that can hit the market faster than anyone and you have a good understanding of the local market, can access these properties before they become popular, and snatch it up before anyone else. However, this can be an expensive route.

This is where partnering with another real estate professional might work best. You can build funds faster together than you would be able to alone and benefit from another’s market knowledge and different perspectives. This might be an attorney, contractor, banker, or financial advisor.

This also gives you the preparation and experience needed to serve others as investors. Investors can be a horse of a different color altogether but with their personal experience in their field of interest, you can help to understand and serve them better without necessarily having the experience that they have.

4. Consider becoming your own broker.

When you become a real estate agent you hang your license with a qualified broker. You technically sign all real estate contracts as the broker such as Windemere, Coldwell Banker, Keller Williams, eXp Realty etc. But, that doesn’t mean that you have to carry the burden of a brokerage all on your own. However, you do have the experience and authority that a broker brings to the table which is at least 2+ years of experience over a licensed agent and more education. Brokers can also earn more by recruiting additional agents under them.

Related: What to know as an eXp Real Estate Agent

5. Hard Work

Yep, there it is… Hard work. Starting off in the real estate business can be difficult. You first start with your sphere of influence or direct business associates from friends and family. However, as soon as the word gets out and people realize that you are all in 150%, a lot of your business will actually come from referrals. This could mean from new homebuilders, other Realtors®, lenders, and of course, friends and family. Past clients are definitely one of the best way to get referrals but of course, you have to have clients first to have past clients.

Staying on top of everyone’s short go to list is always key. Never let them forget you. This doesn’t mean pummeling their inbox every day with reminders that you are the “go to real estate agent”, but it also means not letting a year go by before they hear from you. Make sure to stay in touch with them and ask how their new home is working out for them. Genuinely seem interested and of course the more relationships you build, the more referrals you will build as well. From there, you can expand your referral base and build your network.

Also, partnering with others in the industry is a great way to gain referrals. Find a lender that you love and try to partner with them, possibly connect and share marketing dollars. Get your name out to local builders, inspectors, and appraisers. And of course, Connecting across the country and even the world with global real estate agents can be a great way to gain referrals.

real estate salary

6. Keep track of every dollar.

Remember, you are on your own when it comes to your income. There is no one taking taxes out, no one running the numbers for you unless you pay them. You’ll want to get every tax deduction possible and as a real estate agent, that’s fairly easy.

Just about everything you do as long as it has something to do with the business can be tax-deductible. This might mean deducting a home office, meals and entertainment for clients at 50% tax deductions, depreciation for a vehicle, and of course all your marketing dollars. Any penny you spend on your business can be deducted so don’t miss out on any of those extra dollars.

Increasing a Realtor® salary or even if you’re not a member of the NAR, increasing a real estate agent’s salary can be done but it does take a little bit of knowledge, motivation, and education. Starting off right or starting again after years of stagnant business can definitely be beneficial.

Learn more with these Agent Tools

eXp Realty

Top 199 Real Estate Memes That Are Actually Funny (And Relatable)

Last updated on: Published by: John Kinnunen 0
real estate memes

 

Top 199 Real Estate Memes That Are Actually Funny (And Relatable) 

Everybody loves memes. And although generic memes are hysterical, work-related memes just hit differently. 

Because we empathize with the scenarios you find yourself in as a real estate agent, we decided to compile a list of the top 199 real estate memes that are actually funny.

So, if you’re waiting for a client to arrive or have some time to kill before an open house, enjoy a laugh with these ridiculous and relatable real estate memes. 

 

Whether you’re hustling day and night as a real estate agent or listing occasionally, these memes will resonate with you. 

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Some of our close friends and family don’t fully comprehend what exactly our job entails. 

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And some don’t think our job is necessary (or hard) at all. 

what makes real estate memes funny is they are true to some degree.

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But the friends who get it, they get it. They don’t always like it, but they understand. 

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Although it’s sometimes hard to like your friends who forget you’re in real estate. 

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We all have that one (or more than one) client who thinks our job is a piece of cake. 

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 Balancing different personalities and unrealistic goals sometimes makes us feel like a therapist….

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…a marriage therapist. 

 

 

 

 

 

But our colleagues and team members make it worth it. 

 

 

 

 

 

 

 

 

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Except when it comes to the dreaded lock box….

 

 

 

But it’s all worth that feeling when your client finds their dream home.

  

 

 

Ultimately, you love your job and couldn’t’ see yourself doing anything else. 

Hope Those Real Estate Memes Made You Laugh

We’ve all been through the ups and downs of real estate, but we’re reminded on a daily basis why we fell in love with the industry in the first place. 

Go ahead and share this page with a real estate agent who shares your struggles and successes. After all, we’re all in this together! 

And if you’re a real estate nerd and got a kick out of these jokes, why not try using memes as part of your real estate marketing strategy? 

Hopefully, these relatable real estate memes were able to give you a good laugh and help you unwind from the day!

If you would like more information

Join eXp Realty

There are a lot of brokerages out there if you are looking for one with a good atmosphere and collaboration be sure to check out eXp Realty.

 

eXp Realty

eXp Realty Stock 101: What You Need to Know as an eXp Agent

Last updated on: Published by: John Kinnunen 0
exp realty stock

eXp Realty Stock 101: What You Need to Know as an eXp Agent 

As an eXp realty broker, you have numerous benefits at your disposal, one of which is the ability to own a piece of the company you’re so diligently working for. But, unfortunately, if you’re not taking advantage of the eXp stock, you are missing out. 

eXp Realty stock, known by its ticker symbol EXPI, is a publicly listed company that anyone or their investment brokerage can buy on the NASDAQ stock exchange.

But as an eXp agent, there are three unique ways you can acquire eXp realty stock while continuing to sell real estate as you already are. 

So, how can you earn stock within eXp? 

#1 Agent Equity Program

The “Agent Equity Program” lets eXp Realty retain 5% of the commission from a realtor’s transaction and buy EXPI stock at a discounted rate (saving 10%). 

That stock’s price is ultimately decided by the closing market value of the final trading day of EXPI stock for that month.

There is an Opt-in/Opt-out form that realtors can fill out whenever they want to join or no longer want to engage in this program.

#2 Sustainable Equity Plan 

eXp Realty offers a Sustainable Equity Plan through which agents can earn stock shares for tasks within the company. 

Realtors can obtain shares of stock when they: 

  • Reach their annual cap (net $400 of stock)
  • Sell their first home of the year with eXp Realty (net $200 of stock) 
  • Sponsor another agent who closes their first home with eXp Realty (net $400 of stock, though one-time-only and both realtors but remain with eXp during the vesting period) 

#3 eXp ICON Agent Status  

Finally, eXp realtors can earn stocks through the ICON Agent Awards. Those eXp agents who significantly contribute to the company are awarded this honor for their success by earning ICON status and benefit with the opportunity to earn EXPI stocks. 

To accomplish this, realtors must meet specific requirements, but after earning the title of ICON, they can get their $16,000 cap back in eXp Realty stock each year.

Click here for the Pros and The Cons Of eXp Realty

ICON Production Requirements 

There are two possible methods to achieving these production requirements: 

#1 

The first way to earn ICON status is to close an annual gross commission income of $500,000 with at least ten transactions. But they also have to pay a one-time “ICON Qualification Fee” of $5,000 (minus capped transaction fees). 

As an example, let’s take a realtor with an average sale price of $1,000,000. 2.5% of the total price means a commission of $25,000 each. So, this agent could qualify for ICON status if they sold 20 homes annually and made $500,000 in gross commission incomes. 

Because the cap is $80,000, this person would cap out after 4 transactions and only have to pay $250 for each of the following sales (16 remaining sales before qualifying). 

So in order to qualify for the $16,000 eXp stock award, this agent would have to pay $4,000 ($250 for each of the remaining 16 transactions after capping) plus the one-time ICON Qualification Fee of $3,000. 

That means $7,000 total to be eligible for $16,000 EXPI stock. 

This method is pretty effective for all agents, even those who work in high-priced real estate and may only complete a few sales annually.

#2 

The second method is by capping. First, the realtor must cap (with the commission split, $16,000 gets paid into eXp), then they’ll go to 100% commissions (subtracting a $250 transaction fee).

Realtors do have to pay an extra $5,000 in capped transaction costs to meet the ICON production requirements, which usually means an additional 20 transactions beyond capping.

As a real-world example, let’s imagine it takes an experienced realtor 10 deals to cap every year (10 closings at $8,000 average commission for each is $80,000), and the cap for eXp Realty realtors is $80,000 in gross commissions. The agent has to pay $16,000 paid into eXp Realty (20% of $80,000) 

Ultimately, the exact number of sales required to earn ICON status depends on the agent’s average commission and sales price, but the realtor must cap to achieve ICON and benefit from the stocks earned. 

ICON Award Payout

The payout for the ICON Award takes place in three different phases: 

Phase 1: 

Immediately after achieving ICON status, a realtor will earn $8,000 in EXPI stock. eXp Realty buys that stock on the 15th day of whichever month the eXp Realty is acknowledged as an ICON. 

There’s a three-year vesting period for this initial $8,000 stock. 

Phase 2: 

The second installment of EXPI stick, in the amount of $4,000, is issued when an ICON realtor fulfills their cultural commitment to eXp Realty. The eXp Realty staff assesses the ICON recipient’s cultural commitment one year after getting ICON status. 

ICON Cultural Requirements

There are multiple ways to satisfy the ICON Cultural Requirement, and at least one of them must be completed: 

-Serving as an ICON Committee Member and assessing ten ICON applicants within 12 months

-Acting as a mentor and participating in the program for one year

Fulfilling the role as an ICONversations moderator/panelist and attending the function ten times within the year

Being an ICON instructor and instructing six classes annually 

After the 12 month period AND a realtor’s cultural commitment is confirmed, that extra $4,000 of EXPI stock is issued to the ICON realtor at the end of the month, with the market share cost being the same as the price on the 15th of the month.

This second phase $4,000 EXPI stock will have a two-year vesting time.

Phase 3: 

The ICON recipient also has to attend two company events, but only after earning ICON status. Any other later events will not go towards fulfilling this obligation. They can then receive the final $4,000 in ICON stock awards.

eXp Realty hosts two public meetings every year, the Shareholder Summit and EXPCON. ICON realtors are granted $2,000 for every one of these meetings they are present. 

The final $4,000 (granted in two parts, $2,000 each) stock is vested immediately. 

Selling eXp Realty Shares

If you decide to sell your shares or transfer them to a different brokerage account after the vesting period, you’ll have to do so through Shareworks. 

Any shares are subject to a $0.03/share commission fee in addition to a $20 wire fee. Be aware that stock acquired before November 2017 requires a $50 as they are labeled as “restricted stock.” 

Build Wealth as an eXp Agent with EXPI Stock 

As an eXp agent, be sure to take advantage of the incredible programs the company has in place to own a piece of the business. Although you will have to pay nominal fees, the investment is worth it to become a shareholder in the company. Celebrate the company’s financial success with your own. 

Conclusion

eXp Realty stock is only one of the many reasons you are seeing so many agents join eXp. eXp Realty is more than just a real estate company it is a movement. At the time of this post eXp Realty has just opened up Brazil and plans to open 4 more countries this year at least. If you want to join eXp Realty or have any questions about my ad agency I run, or questions about eXp Realty feel free to reach out to me on any of my social media channels or just click here and choose a time to talk. Talk with John

eXp Realty

Best Real Estate School Online – Top 5 Affordable Choices for 2021

Last updated on: Published by: John Kinnunen 0
Best online real estate school

Real estate is an exciting and growing field where you can earn a good living while setting your own schedule and meeting new people. Becoming a licensed real estate agent involves taking a number of classes to gain practical knowledge of the industry practices that apply to real estate.

The accessibility of online real estate schools make it easier than ever to get the schooling needed to pass the real estate agent exam. Less than half of applicants pass the licensing test the first time. Online courses offer students test prep courses to help you pass the exam the first time and begin a fulfilling career as a licensed real estate agent.

Advantages Of Online Real Estate Schools Vs. In-Person Learning

Succeeding in the real estate business takes hard work and a comprehensive understanding of the industry, the market, and ever-changing trends and regulations. Online learning offers a range of advantages over in-person schooling for real estate certification.

Benefits of online schools for pre-licensing classes, test prep, and continuing education coursework include:

 

Wider Selection of Classes

The emergence of e-Learning has opened up real estate students to a wider range of course selections and specialty areas of study and practice. In addition to pre-license and test prep, students can explore exciting, new electives they would not have otherwise been exposed to. Online real estate courses are taught by active industry professionals who provide valuable insight on the best ways to prepare for continued success.

More Affordable

Online schools are able to charge less without the costly overhead involved in running an in-person class. Completing the necessary coursework online also eliminates travel time and transportation expenses. 

Flexibility

Everyone learns at different levels and in varying ways. Online real estate schools allow students to learn, study, and test on their terms and at their own pace. Some people can binge real estate licensing coursework like a Netflix limited series, while others are more comfortable spreading out the work over time.

How Long Does It Take to Get a Real Estate License?

Taking a real estate pre-licensing or continuing education class at a brick-and-mortar school can take anywhere from four to six months. Online students generally set their own timeframes with classes that provide the same information. Motivated students can finish courses in a matter of weeks or a few months. Exam and application timetables that prolong the licensing process can also vary by state.

Top 5 Online Real Estate Schools

An online real estate school can help prepare you for the state realty exam, provide ongoing education courses, and prepare you for advanced real estate designations. Each school has varying prices, ratings, interface compatibility, course availability, and student pass rates. 

Before investing time and money in a real estate education program, it is important to inspect them all and find out which one fits in best with your goals, needs, and preferences. 

The following are the top online real estate schools to help you decide which will best serve your needs.

Kaplan Real Estate Education

Originally founded in 1938, Kaplan is one of the oldest, largest, and most respected education and test-preparation companies. Famous around the world for preparing students for SATs, ACTs, and AP exams, Kaplan’s Real Estate Education offers real estate licensing courses that offer a variety of structural and interaction options, from live classes to home-study methods. On-demand structures give you the best of both worlds with recorded lessons to play at your own pace, with access to personal instruction as needed.

Kaplan Pros

  • Licensing courses available in all 50 states.
  • Instructors are practicing real estate agents.
  • Full range of instructor accessibility and interaction options.

Kaplan Cons

  • The course interface is outdated and less user-friendly than others.
  • Real estate licensing classes are more expensive than other comparable companies.
  • Shipping costs for materials are not included in the price of courses.

Real Estate Express

Real Estate Express is accredited by the Association of Real Estate License Law Officials (ARELLO) and the International Distance Education Certification Center (IDECC). They offer comprehensive, affordable real estate licensing and renewal courses taught by professional realty instructors. Founded in 1996, Real Estate Express has fully accredited pre-licensing courses with high consumer ratings from consumers that enjoy the “pass or don’t pay” approach.

Real Estate Express Pros

  • Certified by both ARELLO and IDECC.
  • Live chat available with some courses.
  • Large selection of real estate courses.

Real Estate Express Cons

  • Post-licensing courses are not available in many states.
  • Course access expires after six months.
  • Hard copies of study materials not provided (can be printed from online version).

The CE Shop

While The CE Shop offers a wide range of pre-licensing courses for aspiring certified real estate agents, the ARELLO-accredited online school specializes in continuing education coursework. Instructors for both preparation and post-licensing classes are real estate industry specialists who have been successful, active realtors for several years. Short for “Continuing Education,” The CE Shop can be accessed by future agents and realty professionals in all 50 states, with comprehensive, affordable courses for realtors throughout the various stages of their careers.

The CE Shop Pros

  • Continuing education courses start as low as $9.
  • Among the largest selections of realty-related continuing education courses online.
  • Free trials are offered for some online courses.

The CE Shop Cons

  • Poor website interface and user functionality.
  • Pre-licensing exams are unavailable in many states.
  • Pre-licensing and license exam prep classes cannot be separated.

4. 360 Training

360 Training offers self-study packages and pre-licensing courses for aspiring real estate agents, as well as individual exam prep options. Coursework is developed and taught by real estate industry experts that adhere to all state licensing guidelines and requirements. Featuring some of the lowest prices available for real estate pre-licensing classes, 360 Training allows students to order learning materials separately without having to pay for the exam prep for even more savings.

360 Training Pros

  • Among the most affordable full pre-licensing courses in the real estate industry.
  • Exam prep course not required to purchase learning materials.
  • Money-back guarantee if the licensing exam is failed three times.

360 Training Cons

  • Courses available only in 10 states – Alabama, California, Florida, Georgia, Missouri, Montana, New York, Texas, Virginia, and Washington.
  • No interactive functions or instructor contact.
  • The website is outdated with poor user interface.

5. The Center For Realtor® Development

Schooling for real estate agents does not end when the initial licensing coursework is completed. The Center for Realtor® Development (CRD) is ideal for agents that have passed the licensing exam and are looking to take their careers to the next level. CRD offers various niche market certifications and designations endorsed by the National Association of Realtors® (NAR). Most continuing education courses at CRD offer interactive components for direct online engagement and personal contact with a qualified instructor. Among the specialty areas of concentration available at CRD include solar housing, real estate for seniors, vacation home sales, and much more, depending on the state. Students at CRD must be current NAR members.

CRD Pros

  • They are closely aligned with the National Association of Realtors®.
  • Licensed agents take certifications and designations that reflect current trends in high-demand regions.
  • The wide selection of specialized classes in continuing real estate education.

CRD Cons

  • Class registration requires active membership in NAR.
  • No classes are offered in exam prep or pre-licensing.
  • Course topics are highly specialized and not applicable to all licensed Realtors®

Contact John Kinnunen at eXp Realty Today

The real estate industry offers a lucrative and satisfying career for those willing to put in the time and effort. Want to talk about real estate marketing, lead generation, or any other reality-related topic? I can show you how to get started, the best ways to learn, and set you on your path to success. Contact me today and let’s get the conversation started. 

Want more information about joining exp realty?

 

 

 

 

 

 

 

eXp Realty

Is eXp Realty a Pyramid Scheme? MLM? Scam?

Last updated on: Published by: John Kinnunen 0
exp realty a pyramid scheme

After a few years of successful, legal business in the real estate industry, eXp Realty still regularly fields questions like is eXp Realty a pyramid scheme or a MLM business because of its progressive approach to real estate. Whether or not you agree with the business model, it is important to understand how it works and the differences between eXp Realty and illegal pyramid schemes that reward only those at the top.

The realtors at eXp Realty are not being duped into unrealistic promises of wealth with little work. They are provided with a real, legitimate opportunity to have a long, prosperous, and successful career in the real estate industry.

The real estate industry first took notice of eXp Realty in 2016 when we began to make a dent in the community. The market attempted to label our unique approach to conducting real estate business, and some pigeonholed the methodology as an illegal pyramid scheme or multi-level marketing. Only after a comprehensive look at the eXp Realty way can you fully understand that the revenue sharing compensation technique is a pioneering strategy that is completely legal and ethical.

What is Revenue Sharing?

Companies offer revenue sharing options to get employees invested in the organization and make them responsible for the business’s success. The real estate revenue sharing model allows companies to grow without excessive overhead expenses using a virtual office that takes advantage of the latest conferencing and communication technology tools.

Unlike the franchise model, the brokers and agents at eXp Realty are not strapped with franchises or regions to buy and sell. Savings are used to share revenue and help the company grow. When an eXp Realty agent recruits another agent to the company, the revenue generated by the new agent is shared with the original for as long as both are working for the company. The revenue share can go as deep as seven tiers of recruited tiers.

exp realty a pyramid scheme

What is a Pyramid Scheme?

A pyramid scheme is a recruitment-based investment with individual participants generating revenue by expanding the recruiting strategy in width and depth. Some pyramid schemes involve a product, while others have no product to sell, and commissions are made solely by recruiting other participants. Pyramid schemes are illegal  in the United States and other parts of the world.

The following breaks down the two basic types of pyramid schemes.

Naked Pyramid Scheme

Participants do not have to market or sell any products to earn money. They simply have to recruit other people to invest. Aside from ethical issues, the problem with a “naked” pyramid scheme is that eventually, the market is saturated. There is no way for the people at the bottom of the pyramid to make back their initial outlay, let alone to see profits of any kind.

Product-Based Pyramid Scheme

The difference with a product-based pyramid scheme is that new participants typically purchase a starter kit with a range of product lines to sell to the public. The person that recruited the new member gets a cut of their starter kit fee. Like a naked pyramid scheme, those who join late will enter into the investment in a saturated market that will make it challenging to sell products or recruit new people.

What is Multi-Level Marketing?

Participants of multi-level marketing (MLM) companies like Amway and Mary Kay have encouraged friends and family to join their distribution downlines. Existing members are paid a percentage of the sales made by recruited distributors and the people they recruit.

The difference between multi-level marketing and a pyramid scheme is that the focus of MLM companies is the product, while pyramid schemes are based on recruiting others. MLM salespeople are rewarded for higher sales or the ability to successfully manage a sales team.

eXp Realty clearly does not run an illegal pyramid scheme, but their techniques and process have some qualities of an MLM company that legitimately sells real products.

How Does eXp Realty Work?

First and foremost, eXp Realty is a real estate brokerage company. The revenue sharing compensation model is similar to an MLM investment in that brokers recruit other brokers and share in their revenue. Agents at eXp Realty pay an $85 monthly fee and work on an 80/20 split of their commission with a $16,000 cap. Fees go towards offsetting valuable resource tools such as kvCORE, Skyslope, eXp World, Workplace by Facebook, etc.

eXp World Holdings (EXPI) is a publicly-traded stock on the Nasdaq stock exchange and is audited by the United States Securities and Exchange Commission (SEC). With over 20,000 real estate agents, eXp Realty has brokers in all 50 states and most Canada provinces. 

Agents at eXp Realty have the unique chance in equity ownership opportunism that can substantially increase their revenue and profit over time. Incentives include the acquisition of stock after the sale of the first home of the year, bringing on new agents, and additional stock options when a recruit sells their first home.

High-producing agents are rewarded with the return of their entire $16,000 cap as company stock upon completing specific benchmarks. An equity program that acts similarly to a 401k savings account allows agents the chance to purchase eXp stock discounted 20 percent from its trade price at the time.

What Makes eXp Realty Different?

Glenn Sanford, the founder of eXp and the CEO of eXp World Holdings, created a revenue share concept to apply to real estate that organically grew the company by allowing his employees to control the operation and reap the benefits. The existing national brokerage model was lifted to the digital cloud-based environment. Some of the massive savings from eliminating traditional brick-and-mortar stores and the overhead that comes with them were passed along to the brokers and agents that generate the business.

The revenue share system provides incentives for existing agents to attract and recruit additional talent for the team, saving the company even more money by not having to enlist professional recruiters and teams of trainers. The collaborative nature of the revenue sharing concept increases the sharing of ideas to make everyone better and improve the success of the overall business.

This sustainable model reduces the cost of business and creates agents with a vested interest in the company’s success and continued growth. While up to half of the revenue generated goes to agents that recruited you and the ones that recruited them, the eXp Realty model offers brokers to build a substantial base of revenue that can pay off for years to come. Agents can grow their businesses that build a foundation for the future without added expense or the weight of liability.

As the model continues to get attention within the community of progressive real estate brokers, the quality of the agents in the system will continue to improve, further stabilizing the market and the other brokers associated with eXp Realty.

Is eXp Realty a Pyramid Scheme, MLM, or Neither?

The bottom line is that eXp Realty is a legitimate realty business and not an illegal pyramid scheme. The intent is to further the success of the most talented and motivated real estate agents without bogging them down with franchise or regional requirements and without the company needing to establish and maintain a traditional physical location.

Some may feel they have a persuasive argument in classifying eXp Realty as a multi-level marketing company that deals in the real estate industry. However, there are too many differences and incentives to make money performing in the market to be a true MLM experience.

Agents are given the unprecedented opportunity to earn back their cap every year through company stock. They can also access the tools needed to grow and expand their business interests at an astoundingly affordable monthly volume rate.

It helps avoid labeling eXp Realty into any category other than a highly respected, award-winning real estate brokerage. The company was named the largest independent real estate brokerage in North America by transaction count in 2019 and continues to grow every year. Motivated real estate entrepreneurs can make a name for themselves and build a solid foundation for the future using available stock options and revenue sharing opportunities.

Why Choose eXp? 

While much of the talk about eXp Realty may revolve around the notion of multi-level marketing and false accusations of a pyramid scheme, the revenue sharing component of eXp Realty is just one aspect that sets us apart from other realtors. Aside from how agents are compensated and how the revenue sharing concept works for both the company and the agents, eXp Realty is a real estate brokerage company that continues to do an incredible amount of business throughout the country.

Forget whatever you have heard about the way eXp Realty does business and treats its brokers. Get the facts and investigate for yourself, and you will find that eXp Realty is a legal, effective way for real estate brokers to succeed in today’s digital market. 

Work with John Kinnunen: eXp Real Estate Agent

As a licensed eXp real estate agent in Florida and in Michigan with extensive experience in the field, I am eager to share my working knowledge of both the real estate industry as a whole and the exciting future of working for eXp Realty. If you’re already a real estate agent and looking to advance your career, or even if you’re interested in getting started in real estate, contact me today.

eXp Realty

kvCORE – Kunversion

Last updated on: Published by: John Kinnunen 0
kvCORE Knuversion

What is kvCORE

kvCORE is short for Kunversion, which operates a real estate website and CRM system. For those looking for an all-inclusive platform, kvCORE provides accurate information with an easy to follow up system. On the front end it is connected to your MLS so clients can search for homes for sale and on the back end it has a CRM. The kvCORE’s CRM is an extremely robust system that helps manage your clients or leads that come in. The two work hand in hand.

KvCORE is an all in one system that real estate professionals from around the world enjoy. Real estate website designers and developers are everywhere. There so many different brands of real estate websites out there, and I will compare a few of them a little later. You can find real estate websites that are simply designed on the wordpress platform, some real estate websites provide a CRM (Customer Relationship Manager) with them, all of them come with an IDX platform. Finding an all-inclusive system platform is something every agent should have, it helps streamline your process. Some agents prefer to peace together a system which might work better for some. 

kvCORE - My Personal Experience

kvCORE is given to every agent when they join eXp Realty so I have been using it since 2019. I was able to import all my leads from my previous CRM without a problem. Like any CRM kvCORE is going to have its pros and it’s cons. I am not being paid to write this review of kvCORE all I can give you is what I have experienced. I have been using it every day for the past year and a half. This review is just in case you are either looking to join eXp Realty or you are looking to purchase it on your own. 

I use kvCORE to manage a database of 15,000 and to book appointments every week. I also use it to capture information about people that visit my website. I can’t tell you how many times I have been sitting at dinner or my son’s practice and got a text from someone that has been on an auto drip campaign that has said they are ready to purchase. Click here to see my kvCORE website.

kvCORE Training Series

I have put together an entire training series on kvCORE’s best practices that you can watch on YouTube.

kvCORE's Frontend

kvCORE’s frontend connects to your local MLS allowing clients to search all the local listings. kvCORE brings all the data for your clients into one place for them and allows them to make custom reports just for them. 

kvCORE Site

Comparison to Other CRM's

Sierra Interactive – Sierra Interactive is one of the best CRM systems I’ve ever used.  When it comes to SEO Sierra Interactive is one of the best in the business. Their websites are very user friendly, and their CRM’s are easy to use. Their support is amazing as well. However sierra interactive comes with a price. $399/ mnth. If you pay for it by the year it is $4,000 so you get a little break. I have some good friends that work their if you ever get a Sierra Interactive site be sure to tell them I sent you.

Boomtown – From what I have heard from other agents Boomtown is another one of the top CRM systems I’ve have ever used this system before. A good friend I have in the business always said their support is very good, and their website and CRM look incredibly polished and are user-friendly. It does come at a cost, however. Boomtown was around 3x the price (roughly $1500/month) of kvCORE and Firepoint last time I checked.

Follow Up Boss – Follow Up Boss is an excellent CRM. However, it is not an all-in-one solution. You will still need to set up a website with an IDX feed and connect it to Follow Up Boss. Setting this workflow up isn’t complicated but takes more work than an out-of-the-box solution like the two above. If I was trying to decide between Follow Up Boss and kvCORE I would go with kvCORE.  

kvCORE's Back End

kvCORE’s backend is where all the magic really happens. This is where all the client’s information is kept, the marketing campaigns are, landing pages, and squeeze pages are created. This is where everything happens. I am going to walk you through each tab. As you can see from this picture there are 8 sections in the back end some of them my broker and I don’t use so I have little knowledge on those areas.

kvCORE Backend to CRM

kvCORE "Dashboard"

kvCORE dashboard is where you can see what all your clients from your database have been looking at. If you see that a certain client has been visiting your sight frequently it might be a good time to reach out to them and see if there is anything you can help them with. 

"Smart CRM"

kvCORE is a smart CRM section is where your entire database is held. This is where you can go inside each client and update their searches, update their tags, move them along your pipeline. This is also where you will assign the drip campaign you want them to be on. You can also assign the correct drip campaign from the mobile app.

kvCORE's "Lead Engine"

This is the number one thing every real estate agent wants more of “Leads.” This is one of the things kvCORE is so good at doing. You can create squeeze pages and landing pages for your sellers and buyers to land on. When they register on your website it then becomes your lead. kvCORE allows your future client to register with their Google or Facebook account. This helps you get the most accurate contact information.  Here is an example of a squeeze page. 

 
kvCORE Lead Engine Buyer Landing Page

From kvCORE’s “Lead Engine” this is where you will start creating the links to create your buyer and seller landing pages also known as squeeze pages. Once you create these squeeze pages it is your job to drive traffic to these pages. There are many different ways to drive traffic to your website Paid and FREE traffic. Free-ways include things like Facebook Post, Flyers, Facebook Marketplace Post, Craiglist Ads, YouTube Videos. Paid traffic includes ways like Google Ads, Facebook Lead Ads, Instagram Ads, Bing Ads, Yahoo Ads, Facebook Retargetting Ads just to name a few. If you don’t know how to run Google Ads and you are with eXp realty you will be able to sign up for a service called “Making It Rain” it is a company that runs your Google ads for you. 

If you don’t know how to run Facebook ads that generate leads and I am your sponsor at eXp Realty I will set them up for you. If you are not with eXp Realty or with another sponsor you can purchase my ads course here. Here is a video on how to set up a Facebook Lead ad to attract more buyers.

Listings

The “Listings” section in kvCORE is where all the listings in your MLS are. You can choose one and email or text to your client. You can choose it and post it to social media you can even directly post it to craigslist. I would suggest posting anyone else’s listings unless you have their permissions.  

Marketing Autopilot

Marketing Autopilot is where you can set up your drip campaigns, text campaigns, and set up your behavioral automation. Your system will reach out to you when someone from your database revisits your website after 14 days, text you if someone views a property more than 5 times. the system will also reach out to your database for you with text, emails, voicemail drops, and video text and emails. I like to explain like you are going to be hitting your database from land, air, and sea. Really it is no lead left behind. 

You will also set up birthday and anniversary campaigns here and this is where you get into your mobile dialer. There is so much you can do here.

kvCORE Marketing Auto Pilot

When you start getting a high number of leads like I have to manage you need systems in place like this to make sure you don’t drop the ball. kvCORE has been a game-changer for me when it comes to managing my leads.

Transactions

Some brokerages choose to use this area in kvCORE to store all their “transaction” data here. You can see details like client, address, commission, closing date, tasks list, and all your files.

My current broker eXp Realty uses a tool called skyslope to keep track of all the transactions so I don’t really have much to say about this area.

Web & IDX

“kvCORE” has a “web & IDX” section in its backend. This is where you are going to customize your website and put all your personal contact information in and where you will put your MLS information in so your website will pull the listings from your MLS. This is where you will add your google analytics code and your Facebook pixel. Your Facebook pixel code is used for creating retargeting marketing campaigns. Your Google Analytics code is so you can see how many visitors you receive per day and where they are coming from.  

You can also connect your sites so they will automatically pull your testimonials from third party sites here as well. This is where you will tell everyone what service areas you service, and if you have blog post this is where you can put them as well.

kvCORE Marketplace

Marketplace

kvCore’s “Marketplace” is like the app store for kvCORE. This is where you can purchase additional tools like for marketing, or you can buy a customizable template to put over your website, and you can this is where you can ad making it rain that I mentioned earlier. I haven’t paid for any of these add-on’s I do all my own paid advertising and I don’t feel the need to customize my site anymore then what they give you access too. 

This is also where you can signup for team products and upgrades. Within this, upgrade, it allows the team leader to assign leads as they come into certain agents. There is also additional analytics that goes with the team add-on.  

If you’re licensed in multiple states you can have an additional MLS added for an additional $14 more. This upgrade means that if you are an agent or broker and are licensed in multiple states and only want one website to manage, you can do that with this add-on!

Finally, you can also have kvCORE setup paid buyer lead generation campaigns for you through Facebook or Google. These are monthly recurring costs that you can choose in increments of $250 starting at $250 for Facebook and $500 for Google. kvCORE sets up the advertisement and monitors performance. All that you need to do is to follow up and convert the new lead.

Business Analytics

kvCORE offers a Business Analytics section which is exactly as it sounds. Here is where you can track where every lead is in the process. I don’t use this section of kvCORE to track my numbers I have a spreadsheet I use for this. I do use it to see how many search alerts have gone out, how many emails have been sent and how many viewed properties. However, I do not use it to track how many deals I have closed or where each lead is in the process. 

Support Center

If you ever have a question about how to do something on kvCORE there is always the “Support Portal” is a good place to start. 9 times out of 10 I find the answer I am looking for in there. By chance it hasn’t already been answered there is always the live chat widget you can use down in the lower right-hand corner. The live chat is only available Monday thru Friday from 7 a.m. to 5 p.m. If you leave them a message they will get back to you the next day if they are closed.

kvCore Chatbot Integration

kvCORE does come with the generic chat button already built into your website but if you want to integrate it with ManyChat or any other chatbot you can. I choose to integrate my website with my Facebook chat from my business page. I created a little video on this to help others that may need a little help integrating there’s. I choose to do it that way instead of using ManyChat or some of the others because it is FREE. If you’re going to get into sending out mass messages to previous people that have messaged your page then I would suggest going with ManyChat. To be honest I haven’t had a single person message me from my page yet. Maybe if I started getting a lot of people messaging me I would invest in a little system. ManyChat is also great if you are going to start running messenger ads on Facebook. 

Learning Portal

For those real estate agents that are new to kvCORE they have a “learning portal.” Here you will find FREE class on how to use kvCORE. If you are with eXp realty or joining eXp Realty, eXp Realty has courses inside eXp world that will also help you become a power user of kvCORE. All new agents I suggest attending all the trainings in eXp world on kvCORE and if you end up naming me as your sponsor I help all my new agents set up their kvCORE for success. 

I also highly suggest clicking on “Growing Strategies” where they cover Facebook ads, Google Ads, and some on Retargetting as well. All these are great growth strategies. Click Here for some more videos on creating and running Facebook Ads for Real Estate Agents. 

kvCORE Two Systems

kvCORE offers two systems depending on the need, the original kvCORE and K+ Team.  The original system is for brokerages and agents whereas the K+ Team is a more simplistic version for team leaders, individuals, or high-performing single agents.

This next-generation solution for modern brokerages and teams can help run their entire business on one simple platform. The software comes complete with a lead engine, website and IDX operations, smart CRM system, transaction organization, marketing, and business analytics. It also offers an ace third-party marketplace tool to provide an all-inclusive real estate website and platform for modern brokerages.

This cloud-based customer relation management utilizes the system for increased efficiencies, to close the gap between lead generators and close deals, and provides a smart CRM system to generate leads from various sources such as listing videos and landing pages or through customized squeeze pages. Users can easily sink contacts with the database and provide users with templates to design customizable landing pages, listing pages, and other related information for a specific market.

This truly is an all-in-one platform for real estate professionals.

No one likes to micromanage every detail of their real estate business. kvCORE offers platforms, website and IDX offerings, smart CRM solutions, marketing autopilot procedures, business analytics, and listings and transactions all in one place. It’s ideal for brokers and individual agents as well.

For Brokers

kvCORE offers a unique feature for all of your agents and team members. Empower your agents with the best technology offering an industry-leading lead-gen and networking tool with all the abilities to automate the entire business and brokerage.

kvCORE provides fast, efficient, cross-market growth for modern business models offering the ability to scale up teams and provide top tools and solutions for all members. One of the best things about it is that it’s affordable for brokerages and individuals alike. It provides a fully integrated transaction management system and maximizes close rates with automation and accountability.

For Individuals

kvCORE offers one of the best real estate platforms on the market today. Poor technology has been the leading cause of high agent frustration and low adoption in real estate companies. With this system, brokerages and individuals alike receive optimized solutions in a complete Enterprise Platform.

This platform allows your business to grow with a fully scalable cloud platform integrating your entire business into a solution that will save money, time, and focus on factors that drive higher profitability.

This all-inclusive real estate platform is designed for the modern brokerage by offering the industry’s most robust lead generation system out there.

SMART CRM

Every agent and brokerage knows they need an efficient CRM (Customer Relationship Management) system in order to stay organized and on top of transactions and lead generation. kvCORE offers behavioral automation to alert agents of the most opportune time to reach out to clients. With social media marketing tools, listings management, and back-office functionality, this comprehensive technology tool offers connectivity like never before.

Cost

kvCORE is one of the most reasonably priced all in one system. When you are with eXp Realty kvCORE comes for free. The K+ TEAM platform, suitable for up to five agents is approximately $500 per month. This more basic version offers campaign management, property matching, contact management, email marketing, interaction tracking, lead management, property alerts, referral tracking, and segmentation for 1 to 49 users. The lighter version offers training by live online training seminars and webinars.

The full kvCORE offers all of the above as well as documentation training and in-person training design for two to over 1000 users. This process costs around $1200 plus per month and increases as the agent count increases. Monthly fees do not include startup costs that must be generated from customized pricing guides.

kvCORE Comparison

kvCORE is often compared to other CRM systems such as Fire point, Boomtown, and follow-up boss. However, many of these are not as cost-effective nor do they all provide an all-in-one solution.

kvCORE is customizable from local areas to taglines, social media links and testimonials, blog post options and background images. This website platform can also integrate Facebook messenger chat, IDX searches, specific filters, and market stats.

Real estate brokerages need to provide extensive information to potential clients. Buyers are often looking for hot listings, similar properties and neighborhoods, the ability to save their search and detailed map pages. kvCORE offers all of these abilities as well as email alerts and user registration.

From landing pages to seller pages, maps and CTA’s kvCORE offers an all-inclusive, one-size-fits-all solution for every modern brokerage customized to specific areas, details, and needs.

To learn more about the benefits of kvCORE and how it can prosper your brokerage or individual agent business, contact me at any time. I be happy to discuss the qualifications, pricing strategies, and whether the light program or the full program would be better suited to your needs.

“I’ve used kvCORE for a while now and enjoy the ease-of-use and customer service. It helps me stay on top of my database.”

“Ease-of-use and organization of the top reasons I use kvCORE. It has become an invaluable resource, platform, and business model for our entire brokerage.”