Most real estate agents focus too much on the current moment that they sometimes forget what comes after. This episode, Jason Bible and Robert Orfino are joined by two agents from eXp Realty, Chris and Brent, to talk about the benefits of joining a team and preparing your exit strategy for when the time comes. Jason and Robert themselves have joined eXp Realty in order to both make money and help agents scale their business faster and more efficiently by working together. Whether with purchasing or selling, gathering leads, growing your business, increasing your knowledge, and many more. Know what you need to do to join their team and what’s expected of you and understand the model behind eXp Realty.
Listen to the podcast here:
We Joined eXp Realty With Chris And Brent From eXp Realty And Co-Host Robert Orfino
We have Chris and Brant, who are eXp extraordinaire agents.
How are you guys doing? I’m Brant Phillips.
Chris Bounds here.
We were getting all the paperwork done and all that stuff. We want to make the announcement because there are people who are coming to us now and saying, “I got my license. What should I do?” I’m like, “If you can wait until Wednesday, that would be great.” That’s what we’re doing. Getting right into it, we can talk about all the other great things about it. The thing that Jason and I see is our plan is to buy about $100 million in real estate over the next few years and even more beyond that. If we take 3% of that and then we take 5% of that 3%, Jason and I get a ton of stocks.
I don’t know any other real estate company that is offering a retirement plan, which is how I look at it. That 5%, that little bonus on our commissions and if we split commissions and all that other stuff. We’re recruiting people and getting bonuses. We looked at that and said, “That’s killer.” If someone had not explained that to us years ago, at least to me, we probably would’ve made some different decisions. The big thing, which most people don’t get is the difference between revenue share and profit share. Those two things, once we understood them and laid it all out and ran our models, we were like, “This is a no brainer.”
Profit share is pretty easy to run to zero.
That’s the goal of many entrepreneurs is not to show a profit. Revenue share is hard to avoid.
There are some other operational things for us. We wanted to operate outside the state. We got some unique challenges for us if we’re going to start buying stuff in Florida and Vegas and all that other stuff. The second thing too is with the Texas Real Estate Center and working with KW, there might have been some challenges there. I didn’t want to make it seem like we were starting our own market center. They’ve been a great organization to work with. Where do you want to take this from here?Until you've built up a sizable enough portfolio, you have to focus on your active income. Click To Tweet
Let the guys go ahead and do their standard pitch because we tramped all over it.
Why be an agent in eXp? What’s the standard issue?
My thing is I’m Iike you guys, I’m an investor. I started several years ago, focusing on what we got into this game for, free wealth and passive income. I had no desire or interest to even have a real estate license. I was plugging along, buying rentals, and working my corporate job for a couple of years. This was 2009 and I got to the point where I was going to quit my job and I’m like, “Let me get the license in case this whole investing thing didn’t work out.” I got my license in 2009. I also didn’t use it. I threw everything to Kevin.
I’m plugging along and building my business. A few years ago, I hired a full-time agent in the office to come to do all my stuff. I was sitting in a CE class a few years ago. I’m like, “Why am I here? I’m not using this thing. It’s not creating wealth. It’s not creating passive income.” I walked out of class and deactivated my license. That was it. At that point in time, for a real estate investor who’s focusing on investing, you make sense. Long story short and what you guys alluded to, I saw eXp a few years ago. A friend of mine also a real estate investor said, “You’ve got to check this out.” I looked at it. This is the biggest no-brainer of all the time.
We attacked it from an investor’s point of view. For real estate agents, we do a little Kiyosaki financial education with them like, “Where you’re at right now, do you have equity in what you’re doing and the company you’re working for?” The answer is no. “Do you have an additional income stream or revenue share?” The answer is no. We have medical benefits. I’ve got five kids. Our medical went down almost $700, $800 a month with that lead generation. All these things they give us and with the revenue share, not only our agents now are able to have equity and multiple streams of income, but a duplication model that I’ve never seen before. That’s the cool thing with them with our rental properties. I’ve got some old mobile home parks. We’re closing on a 51-lot subdivision.
It’s not very passive. My income with my real estate that is “passive” is good, but it doesn’t expand without me doing a lot of work to that property. That’s the thing with eXp is when agents take the time to look at the model, they get fired up. They’re like, “I’m vested in this thing. I’ve got an income. I’ve got stock. I’ve got medical benefits.” They go out and share it with people. It’s not only passive income. It’s expanding income because we’re growing exponentially at an amazing clip. That’s my little pitch.
The multiple streams are important for Jason and I. We have many streams of income. Adding another one that fit right in, like hand and glove was perfect for us. We understood that. We’ve built before so we don’t mind recruiting and building a team. Again, those little bonuses like healthcare. My healthcare is covered by a Christian co-op in Ohio. I’m an entrepreneur and that was the only thing that was affordable to me. We are now into eXp and I’m like, “Let’s go a little more standardized here. It did great for me for a long time, but now it’s time to get a little more serious while my heart still beats and everything works normally before it gets all crazy.” We looked at all that stuff and we said, “This looks like a solid basis for us and will fit into what we do greatly.” As well as telling people within our organization, “You already have your license. Come on over here and take advantage of all these benefits.”
Let’s talk about building the team. You guys have built an awesome team so far here in the Greater Houston Area. Are you guys the top team builders or do you say you guys are flagpoles and people recognize you?
I’d say we’re within our niche in the real estate investor world as far as I’m aware, probably in the entire company, we’ve got one of the strongest investors concentrated teams. We’re also backed by some of the top guys or some of the top ten agents in the entire company. We’ve got a lot of great leadership on the team.
To clarify too, Rob, you mentioned Houston. For people reading this, we’re building a team across all 50 states. I’ve got 100 something agents in about twelve different states. We have a team in Massachusetts coming on with twenty agents that are onboarding right now. This is all 50 states. That’s the power of the model, multiple provinces in Canada, the UK, and Australia. We’re moving into Mexico very soon, the Philippines, and a couple of other countries.
We’ve got twenty countries targeted for onboarding over the next few months.
What you guys laid out, what the company is about, from that team-building experience to working with people inside your team, it was a pretty quick conversation for us. Explain a little bit more about what the team looks like and the benefits of working with a team.
Everyone needs active income. We happen to choose flipping whether buying rentals or flipping houses, flipping mobile home parks with Brantstone. Your traditional agents are flipping paper. They’re working hard for commissions. Until you’ve built up a size enough portfolio, you have to focus on the active. What eXp allows is for the first time ever to brokers that allows an agent doing their active business, it gives them an exit strategy and the ability to build a retirement while doing what they’re already doing.
You mentioned stock for you and how that can add up. One key point here is you’re getting a stock at a discount. As investors, we love buying things at a discount. I don’t have Warren Buffett’s mind to go out and do that at some mass level, but I can use my commissions to buy a stock at a 10% discount. As far as building a team, the way I looked at it is I’m going to be in real estate in the next 5, 10, 20 years, probably for the rest of my life. Agents naturally would already ask me, “Who are you with? What do you recommend?” I didn’t get paid a dime for referring the other company I was with, which I was happy with. They did what they did.
At this point, it was like, “I had the ability not only to earn stock and build wealth but also to earn passive income by talking to agents about how they can improve their business, their bottom line and put more money in their pocket and their family’s pocket, as opposed to their situation which is putting money in their broker’s pocket.” That made sense. The whole recruiting building the team comes naturally because I don’t have to feel guilty about trying to sell you the next greatest vitamin or makeup product or whatever. This is a real estate brokerage. They’re disrupting the industry. They made Amazon real estate and we can all make more money.
Let’s define the word ‘team.’ eXp has traditional team structures where everyone has a different role in a certain team. They’re going out for production. We often use the word ‘team’ meaning you’re in our downline like you’re on our team. You’ve joined under us. For everyone reading this, for you guys to join under Mr. Texas Real Estate, what we’ve done is, let’s talk about two things. There’s the eXp Value Proposition. We’ve already talked about that. That’s great and it’s awesome. What we’ve done is we’re a team built of real estate entrepreneurs. We’re attacking this more of like, “How do we build a business?” We’re plugging into everything that eXp offers, but we have additional value adds. We have two masterminds a week that are led by investor agents. It’s very important. We have those every single week. We have discovery meetings where we do a business overview every single day, seven days a week live. You can come in and ask questions, all those types of things.
We’ve built online training. We have three training programs that we’ve built 100 videos each for agents and agent investors to come in, get plugged in, with additional resources above and beyond what eXp does. That’s what we’re doing. eXp is awesome. It’s great but like the Keller Williams model, the RE/MAX models, there are a lot of brokers competing for agents. We’re doing the same thing. How can we create the greatest amount of value for people considering eXp? We’ve gone above and beyond and doing what we’ve done and what you’ve guys have done for real estate investors. You offer masterminds. You do training. You go over case studies. You help them grow their business. We’re doing the same thing. For guys like you with Jason, Rob, myself and Chris, the cool thing is I found that most people, even if they’re an agent, everybody wants to be an investor or they’ve thought about it at some point in time.A lot of people miss that real estate is highly regulated, at least on the consumer side. Those regulations are not going to reduce burdens. Click To Tweet
Rob and I are fond of saying, you go to any party and say you’re a real estate investor. You’re all of a sudden, the most popular guy in the room.
I don’t know the percentage of agents who make that leap. We’re giving them every opportunity to plug in and take advantage of it and some of them have. They’ve taken advantage of it. They’ve sent us deals. I’ve bought deals from my agents. We give them all that type of training, driving for dollars. If they want to start doing marketing, we teach them that for free. If you want to bring those deals to us, great. If you want to buy it yourself, that’s great too. We’ll give you coaching and help with that. This is a way for people like us to not only grow our own business but help those at the same time. It’s a win-win type of thing and it’s working out well.
Here’s what I run across a lot, “I’ve been a real estate agent and broker for many years.” How many doors do you own? Nothing. You’re missing the point of this whole thing. With us and the people that are around us and the people that we work with, we want to make sure that they’re getting their doors, even if it’s 1 or 2 in the first few years. To have that in that equity build is amazing.
Who was it that we used to work with over at KW that would say, “If you’re in real estate, not to buy cheap real estate is like, why do you work at the Gap? To get cheap jeans?” This is exactly what you’re supposed to be doing. The Gary Keller courses are on board with that too.
We are talking eXp Realty. Jason and I have signed up. We are working to work with other individuals. We did our first Mr. Texas Real Estate meeting. We talked about people, “If you’re going to write for us, you’re going to bring us deals, we want every advantage afforded to us in the TREC contract.”
We were teaching agents how to make offers on our behalf.
We’re sitting on another $100 million of properties to buy. Hopefully, they’re not all $110,000 houses at a time but it seems that way. We’ve got a triplex for $115,000. It needs about $50,000 and the gross rent on it is about $2,700. That’s what we do. Jason and I find deals ourselves, but we don’t want to. We’d like other people to find deals for us. We’re happy to start putting people in eXp Realty that will want to work directly for us. We’re calling this the Club 45. On top of everything else eXp is doing and Chris and Brant are doing, we have a building that we bought. We’re going to try and make that the center for a lot of things that are going on.
There will be a lot of customers. A lot of people walking through. We’ve dropped the investment word from the title. It’s the Texas Real Estate Center. We plan on doing a lot of first-time homebuyers right there. We have a 100-person classroom. We plan on doing a very typical Saturday morning, first-time home buyers. If you are working with us through eXp Realty, if you are happy to sit on a side table there and work with new buyers. We can feed you buyers. On the other side of it, we are always buying. If you fill out the contracts the way that we want them filled out, we’re happy to buy that.
We get a lot of people from all over the place, “I want to bring you deals.” Everything that I’ve been saying to them in emails is, “If you just stay tuned for another two weeks, you’ll have that opportunity.” The people that are working with us have some experience. If you don’t have the experience, then take advantage of the training. Be aggressive with the knowledge that is provided. There is so much training at every level. Forget Facebook and Netflix. You should be filling all your nights with all this great knowledge that is provided so you can come out of the gate firing for us. We’re happy to bring people within the organization, eXp, to sit in. We’ll have an office for eXp at our building. There will be a place where people can walk in, use the conference room and all that other stuff.
We want to get about 45 agents writing for us. It’s not just us that were buying $100 million. Our mastermind students are probably going to buy a collective $100 million as well. Bringing in the public for first-time home buyers and a lot of new investors. We think there will be an environment there for you to get a lot of foot traffic and to get a lot of deals. We don’t want people who are not working with us to sit around and try and grab some of those deals. We want to focus on it. That’s what we can bring to the people that are going to be signing up here. There’s a whole bunch of people we’ve been telling them to hold off. That’s what it will look like working for Mr. Texas Real Estate. It will be the 45 club.
Can I ask a point of clarification? Between the two of you, you’ve bought 300, 500 houses, somewhere plus-minus?
Together, we’ve got 200 doors in several months.
You’ve built a few businesses. Seemingly on metrics alone, that seems pretty successful. You’ve got this Texas Real Estate Center. You’re going to be providing education, training, leads, your expertise and mentorship. You’re adding a whole layer of eXp value proposition on top of that. Why would someone say no to that?
Here’s where we’re going to make it clear. We’re all there to make money, to get that passive income, to get our doors and to lift ourselves up to the next level. If you don’t have that mindset if you’re just there because you’re desperate and you need another deal. We know in the agent world, it’s an 80/20, maybe even a 90/10 world. If you’re, “I’m thinking about doing that.” You should join eXp because the training is fantastic. Our team is great. If you want to write for Mr. Texas Real Estate, we want to work on all those leads. We want you to be, I’m not going to say as aggressive as Jason and I, but we want you to be somewhat aggressive. We want agents that want to make money.
Are you running a business or not?
A lot of times people send us deals and they don’t have the education and training. That takes more time than going and find a deal ourselves. People reading this need to understand the value that’s coming from hundreds and hundreds of deals. I made a joke about the broker thing about, “I like my broker.” The thing is people don’t understand that the entire brokers are moving to eXp. Sadly, a lot of brokers I’ve met, they’re not very happy and they’re not making much money. They get the title or the ego to be a broker. That is a nightmare of a business.
When it comes down to it, your family, your kids, another COVID or some craziness comes along, who’s paying for their food? Who’s paying your rent? Who’s paying your mortgage? Who’s paying for the college, healthcare and all that? It’s not your broker, it’s you. If you don’t put that first, you can like your broker and it’s good to align, have a good interest and have a good relationship. That’s overall good for business. At the end of the day, strategically aligning your business and treating it like a business in a way that can allow you to operate as lean as possible, but also as efficiently and effectively as possible. If you’re not doing that and thinking long-term, you’re always going to be on the hamster wheel. There’s always going to be something holding you back.eXp Realty is not here just to teach a few agents on how to sell some properties. It is trying to help people build a sustainable business. Click To Tweet
What a lot of people miss is that real estate is highly regulated at least on the consumer side. Those regulations are not going to reduce the burden. They’re just going to become more burdensome. Rob and I had a choice. It was either start our own brokerage or go over to eXp, especially when we started looking at the stuff on the national landscape and then looking at there’s going to be a Texas Real Estate Center in California. There’s going to be one in Jersey. It’s like, “We have to build all those different brokerages there.” It turned into a legal nightmare. eXp is the only one out there where we can expand nationally and truthfully internationally, without having that burden of having to understand the compliance in each one of these states. It turns into a nightmare.
We’re working on bringing in three Southern California agents to represent Mr. Texas Real Estate to bring those investors from Orange County out to Texas here. We’re trying to make it so that everyone prospers. One of the real hard fast rules when people work for me, I always say, “If after two years you don’t have a rental property, then you’ve missed the point of working here. I don’t want you working here anymore.” Joining our team, building your doors, building your portfolio, and getting deals, that’s what we’re all about.
Let me get this right. I can join eXp, bring in 100 people and never have to work again. Is that what you’re saying to me? You’ve got to put some time in.
There’s a little work involved. It’s compensation for contribution. Glenn Sanford realized that agents were the backbone of these brokerages. They’re building these brokerages up. At the end of the day, they have to retire, whether it’s forced retirement or they want to enjoy life. They don’t own anything. Unless they went out and paid for a huge franchise or built their own independent brokerage, they don’t own anything. They can retire, but they don’t have anything to sell. On top of that, there’s nothing passive about it. Unless they did like a normal employee, went out and bought stocks, bonds, real estate, rental properties, their income drops. Glenn realized, “Agents build these brokerages. Let’s reward them with compensation for contribution and allowing them to take ownership of the company that they are building. If they choose to, reward the agents through the Revenue Share Program for telling their friends and family, other colleagues, real estate agents, how they can improve their business in the eXp business model.
You have to work. Club 45, we’re looking for workers. People that are out there were going to hustle. You don’t have to do as much as Jason and I do, but we want to see some evidence that there is hustling out there because we’re going to bring you a lot of leads. It’s not just waiting around for Jason and Rob to bring you leads or waiting around for Jason and Rob to buy a house from you. You’ve got to go out and create your own farm and create your own lead system. eXp delivers a nice little drip campaign. One of the things I saw that they’ll do, there’s already marketing campaigns within the organization that you can buy into. Everyone should be moving forward.
A lot of you don’t have to buy into them. They’re feeding their agents not only leads. We’ve got ExpressOffers.com that’s feeding agents investor leads. Motivated sellers were competing now in the iBuyer space. They’re feeding them leads. You hit the nail on the head. In the beginning, I got so excited about the model. I was recruiting every single agent that I came across. A few months later, I’ve got all these agents and they’re not doing anything. They’re costing the company time and money. It’s absolutely true. Let’s attack some of the misinformation that I hear out there that this is a recruiting company, it’s a network marketing and all that stuff.
The fact of the matter is if 100 agents sign up under Jason and Rob now and do not sell a single piece of real estate, nobody makes money. You’ve cost a lot of people a lot of time and money. The only way people make money at this company is whenever real estate is sold. We’re a real estate brokerage. It’s the same thing with any brokerage in the world. Brokers spend so much time and they’re on this hamster wheel. They’re always recruiting agents. They lose about a third of their agents every year. The industry average is about 33%. It’s mainly because they don’t have the retention tools or benefits that we have with ownership and revenue share. Those brokers are not only spinning their wheels recruiting agents, they’re not making any money unless those agents produce. That’s important. We want agents who are selling real estate and helping others to do the same. We’re financially incentivized like you guys are doing. You train agents how to do deals, write contracts, go make money, and that’s the only way that we make money in this deal.
Let me make sure that everyone’s on the same page. If you’re looking to move over, eXp Realty is a great home for you. We’d love to have you as part of our group that we’re doing at the Texas Real Estate Center. You’re going to text (281) 401-9008 and text the letters EXP. We’ll get back to you. We’ve got a nice little system here. Chris and Brant will walk you through a lot of it. They do pretty standard training every week. We’ll get you hooked up with that. We’ll bring you in. We’ll talk about Club 45. We want to know who you are. We’ll get you signed up. We’ll bring you onboard and we’ll get the whole process going. This is going to be big for us. We’re excited. We think having that center and what we can do for first-time homebuyers as well as investors, getting both sides of the real estate world is a no-brainer for people who want to come on board. That’s what we’re looking to do.
For those people that are outside of Houston. We’re still going to have all those same benefits for being a part of our team because we broadcast everything. No one should be unfamiliar with Zoom at this point.
There are people right now that we’re reaching in Riverside, California, New York City and Philadelphia. We’re in those markets and we’ve got a good base of investors in both Southern California and the Northeast. We’d love to have you on the team and we’ll open up some doors for you in those markets as well.
I don’t know if you want to get into it now or not, but let’s talk about a little bit of forecasting for the future because real estate licenses are likely going to be mandatory in the very near future.
I have said this from day one. If I ever get dragged in front of some statehouse subcommittee on wholesaling and all that and real estate investing, everyone should be licensed. For the investor buyer, it’s probably not that important, but if you’re wholesaling, let’s be honest here, you’re selling real estate.
They don’t even use the words. They’re like, “I have a house at such and such street I’m selling.” I’m like, “Nope, you have a contract that you’re looking to assign.”
They then get into all these legalese, “I have an equitable interest.” I’m like, “No one cares.”
This is the thing that we stress with these wholesalers is to become an agent. I can tell you, you’ll get more leads and more money based on the marketing dollars that you’re now sending out in yellow postcards. If you focus those dollars on the marketplace because most agents don’t even market. You drop your $3,000 a month as an agent. You’re going to get a lot of leads and a lot of listings much better.
I have a number for that. Right before Brant told me about eXp, we did that study in our company doing a lot of changes. I told my lead manager, “Go through every single deal that we made an offer on and we did not get.” What happened to it? It was sold by an agent. I then said, “If we converted only 30% of those, what commission would that equal?” It was over $200,000 in gross commission to me that I had missed out on because my eyes were close to that opportunity. We don’t do that anymore. That also shows you the value that some of these agents or these investor agents have that they can tap into. I can only imagine what that number looks like in those levels of marketing.
We were spending $100,000 a month on marketing. We did the “Where are they now” leads like, for the last few years, we went back and looked at it. Over 87% of those houses were sold. We’re good. We can close 1 in 10, 2 in 10, somewhere around there, but 87% of those that we didn’t buy ended up selling at some point. Over 2/3, ended up on MLS represented by an agent. It was like, “Why are we missing out on this revenue stream?” Especially with the amount of money we’re spending in the market.Coronavirus is actually not scary. There's going to be those who see an opportunity and take advantage of it and seize it. Click To Tweet
If you’re an investor, you’ve got to take a look at this. Give us a text (281) 401-9008, text the letters EXP.
If you are interested in joining eXp, give us a text at (281) 401-9008. Simply text EXP. We’ll start that conversation. We’ll get you in. You can work in the Texas Real Estate Center. You’re going to have lots of leads there. You can go ahead and buy properties for Mr. Texas Real Estate. We’re in a business to buy about another $100 million in the short time here or maybe even bigger, long ways out. If you’re out of state, we’d love to have a conversation with you as well. Our network does funnel through a lot of real estate groups in different marketplaces.
I’ve had family members out of a state say, “I signed up with so and so. I thought you were in Texas.” We’re an international company. We’re one brokerage in the cloud. As long as you have the internet and we’re on your MLS, you can be any eXp agent.
That’s the thing, eXp may be new to certain people but it’s not a new business. It’s now becoming in the mainstream.
It’s the fastest-growing brokerage in the United States’ history. It’s a publicly-traded company, was uploaded to the NASDAQ May of 2018. That should dispel a lot of the “You are just a recruiting marketing company.” We’re on the NASDAQ and the SEC.
I didn’t see a whole lot of agents getting fired during COVID. We watched a big brokerage sit there and slash people. Rob and I are watching it. I’m like, “We’re two weeks into this thing. Why are you firing all these people? Real estate is not going anywhere.” They didn’t freak out like everybody else did, which was interesting to watch.
The company has no debt.
Let’s go through the highlights for us. One, it’s got fantastic training programs. A lot of them are recorded and you can watch it with your own time. Believe it or not, the eXp Help Center and getting some actual people to talk to is a lot easier than most of the brokerages out there. There’s someone sitting there waiting for you. It’s fastest-growing. It’s brand recognition. It’s all those good things. They allow you to do your business, work on your business, and grow your business. On the compensation, you will get paid for people that you bring in and helping them do deals. You’ll get bonuses for getting those guys to get to their numbers that they need to get to.
Jason and I looked at those stock options and we said, “We want to pick this stuff up.” If we’re going to go ahead and buy $100 million in the next several months. If we’re going to go out and buy $250 million over the next few years, that’s a decent stock share for us. Looking at the compensation for us, looking at the compensation for the people we bring in, looking at the stock options that we can get at a discount, as Chris mentioned, as well as some of the other benefits like the pre-made marketing and the health insurance, this was not very difficult. Brant kept selling and I was like, “You have to stop. I’m in.” Those are the real stuff that we took a hard look at. There are some issues there that you’re going to have to go through. Chris and Brant will happily sit down the go through, give you some time, work out all the questions and then go. We’re in a super hypermarket right now. It’s time to go. Jason and I have about $100 million buying power behind us over the next several months. Go write contracts for us.
If I were an agent reading this or an investor wanting to learn, especially we meet many guys like, “I don’t have any money. Where do I start?” Go get your real estate license. Call Jason and Rob, get plugged in, find out how to write offers for them. Think about that, $100 million real estate in the next several months. Not only real estate deals are going to come from that. Every time we put a listing up, how many buyer leads do we get? The overflow, you’re probably going to need some of these properties leased. Some tenants turn into homeowners. We’ve got a $10,000 CRM called kvCORE that we give to our agents for free that is almost like magic. You plug in your leads and your database. You cultivate these leads. The bottom line is we’re not here to just teach a few agents on how to sell some properties. We’re trying to help people build a sustainable business.
That’s one of the things with eXp. I’ve met the founder, Glenn Sanford, multiple times. The dude is a visionary. You’ve got to realize too, during this COVID thing, we didn’t see eXp laying a lot of people off. I didn’t think we’d laid anyone else other than some independent subcontractors where contracts were put in pause or whatever. This company was launched in 2009. How many real estate companies were launched in 2009? The whole model was sustainability, agent ownership, cloud-based. This is Amazon as opposed to Walmart. Walmart is shutting down 250 stores. That’s scary stuff. It’s not scary. There are going to be those who see an opportunity, take advantage of it and seize it. There are those that unfortunately are going to get laid off and are going to say real estate doesn’t work and all that stuff. Sadly, there are going to be real estate investors who have been successful in the past who aren’t going to learn. They’re not going to adapt and change with the times. They’re not going to be in real estate much longer.
You’ve been in this business a lot longer than I have. I see the cycle every 3 to 5 years where there’s this guy and he’s like hot. All of a sudden, he disappears because the market changes and whatever gimmick he was playing is now gone. You get these guys that get hot, 20, 30, 40 deals, 18, 24 months and all of a sudden, they’re gone.
I fell in that trap before because I was doing what I was doing years ago. We get in our comfort zone. Another thing too about this model, l got started in 2007. You came in 2011, 2012, or something like that. I’ve realized that I suck at scaling a business. I admit it. I’ve tried it. The Inc. 5000 was a cool little plaque in my office and I’m like, “Never again.” You guys are good at that. We’ve changed our philosophy. We’re a small but mighty investment company. When I saw eXp, I was like, “I can do the scaling thing without any of the headaches, the bumps and bruises, the risk and financial investment. I can do my little investment thing and have fun and make money but I can scale at the same time. That was the beauty of this whole thing.
One last point here for our team, (281) 401-9008, text the letters EXP. Jason, in the deals that we have on the board that is going under contract, with our purchasing power, there’s about $140,000 in gross commissions in the next few weeks. We’re very serious about our team. We want you to join us. You’ll have lots of leads at your disposal. We want to make sure that you’re going to work. We want people that are aggressive and top of the field here. Thanks, Brant and Chris, for joining us. It’s been great.