After the real estate crash of 2007, broker Glenn Sanford set out to create a more sustainable business, one where the “location, location, location” real estate mantra was cast aside in favor of a more agile business model. br />Like YouEconomy, Sanford has created a business that is not only location independent but also owned by the independent agents and brokers that make up the organization. Today, eXp Realty is a Nasdaq-listed real estate brokerage that crossed $1 billion in market capitalization on its first day of trading.
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Exponential growth at eXp Realty has driven stock prices skyrocketing and tripled the number of agents from the start of 2018 to present, with a total of over 13,000 agents in the states States and Canada in July.
“When we set out to transform the real estate experience, I personally thought about what it would take me, having been a real estate agent, to want to be at eXp on the long term," says Sanford. “It needed to be a place for entrepreneurial agents to voice their opinions and be heard, and a place for agents to plan for the future of their families. »
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This type of growth indicates that a company is doing things differently on several fronts. First, rather than a collection of small brokerages located in physical offices across the country, eXp Realty is entirely remote. All of its agents work independently and are not subject to the often high office fees of traditional brokerages.
That doesn't mean agents don't network. In fact, eXp Realty has implemented virtual reality technology to allow its employees, contractors and agents to meet, network and further their education in a virtual world. The eXp Realty Virtual Campus offers meeting spaces, an auditorium for training, and even a lake where you can take a boat ride while you meet.
For collaboration that usually takes place on paper or on a desktop, eXp Realty uses cloud resources designed to perform the same functions as paperwork, whiteboards, and even email, but for remote teams that need to collaborate on every detail. Remote agents, contractors and staff are showing up at their digital offices from across the US, Canada, Germany, Netherlands and India.
He's doing something right. In June, Sanford was named one of the Top Employee CEOs in Glassdoor's Choice Awards.
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This article originally appeared in the Winter 2018 issue of LadiesBelle I/O magazine.
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