In today's we have Nicki Gregory from Amarillo Texas. Nicki was previously with the franchise system first starting as Mom and Pop and further working with keller Williams. As a team leader she runs a real estate team. Nicki talks to us about her decision to move to EXP, why she did, she touches on equity and revenue share and explains how much of a game changer her transition has been to her life and business. 

Learn More about eXp Realty - Click here to watch a quick 7 Minute Intro Video.

Remember our disclaimer: The materials and content discussed within this podcast are the opinions of Kevin Cottrell and/or the guests interviewed.  This information is intended as general information only for listeners of the podcast. Listeners should conduct their own due diligence and research before making any business decisions. This podcast is produced completely independently of eXp Realty and is not endorsed, funded or otherwise supported by eXp Realty directly or indirectly.  

 

In this episode

• EXP as an Exit Strategy
• The EXP value proposition
• Equity and revenue share opportunities
• Marketplace disruption

Want to Learn More about eXp Realty?

If you are interested in learning more about eXp, reach out to the person who introduced you to eXp or contact Nicki to inquire or ask questions.

Contact Nicki:

Phone 806 316 4498

email. Nicki.Gregory@exprealty.com 

Links: www.EXPCloud.com

Takeway

Everyday we say that we're just blown away. We say mind blown every day.  It's been a big blessing for my team and for my family. Now we're happy. Nicki Gregory

Transcription

Kevin: Welcome back to another episode of In The Cloud. The EXP Realty Explained Podcast. I am host Kevin Cottrell and joining me today is Nicki Gregory from Amarillo Texas. Nicki was previously with the franchise system and as a team leader she runs a real estate team made the decision to leave the franchise system and join EXP realty. It's going to talk about her decision to do that. What drove it how revenue share and equity in the EXP realty model is making a game changer difference in her business and her family's life and the ability for them to fund some charities they're interested in. I think you'll enjoy the conversation as Nicki shares why she made the decision to join you EXP realty. Stay tuned for my interview with Nicki Gregory. Welcome to the show Nicki.

Nicki: Hello.

Kevin: I'm looking forward to chat with you today. For listeners that may not know your name and where you work why don't you give us a little bit of background in terms of her real estate history.

Nicki: Ok my name's Nicki Gregory and I'm in Amarillo Texas. I went to real estate school in 06 and I did not get my license until 2011. My husband and I flipped houses for landlords and I didn't want to get it until 2011 so I started selling houses for other people at that point. Started as a Mom and Pop here in town. And then I moved over to KW in 2012 and I've just been selling ever since.

Kevin: We've actually had a couple of people on the podcast that started out in the investor side flipping property and working on that side of the business and that went into residential production. So let me just ask you some questions about your business because I know a lot of people listening to this will be real estate agents. Do you have a team. Are you an individual agent and kind of volume do you have.

Nicki: I do. I have a team here. The Red Door group and we do about around 10 or 11 million.

Kevin: Excellent. So you mentioned that you were with Keller Williams most recently before joining EXP. What led you to the decision to take a look at the EXP tell me about how that happened.

Nicki: I kind of you know you start thinking should I look elsewhere or should I be looking at other options actually really exit strategy was probably the biggest thing that was coming into play with conversations with my husband and I and so we have a friend who does some mission work in Thailand and we have been fortunate to be able to bless them and help them a little bit. There she has homes for orphans. Well rescued kids from their rescued from human trafficking. And so we had been able to help her some but we really have been discussing more and more how could we do more. And also our exit strategy on same conversations and we were looking and thinking or towards us maybe opening our own brokerage me getting my broker's license. So I started researching that and looking into whether that would be a good fit for us and not just always seems like where everybody thinks they're going to end up. And so I started looking into that and in the process of looking into it I saw a video with Jay Kinder announcing that he had to EXP and Gene Frederik's video about him owning the blockbusters and several of those videos were coming across my news feed and I'd stay up late watching those and realized I don't think at my age that this is you know if this is what's happening to people who already own brokerage's that's not the right direction for me. And so I don't want to be in a year or two you know having to make the same decisions right after I just started up a startup you know brokerage so that is how it happened. So I just signed up under Jay Kinder where we are.

Kevin: Excellent excellent. Well you know you echo what a lot of people say especially if they're in a franchise system you know if you're looking at exit strategy or what the next steps are usually it's sort of unidimensional and I'm sure you went through some of this challenge which is if you're coaching with somebody they want you to do more production and eventually figure out how to get out of that and have a team that you just lead and I think that that's sort of a challenge for many people. Right. You know I certainly had a team in St. Louis previously and we did like 250 transactions a year and I had lots of volume but it wasn't something that was going to be easily converted to me running it passively or just leading only. And you know what. So when you talk about exit strategy I wanted to tie that down for a lot of the listeners because there'll be plenty of them that are out there thinking "well I don't want to be doing listings" if that's what they do which a lot of our listeners will. "And I want to just be listening and selling houses 15 years from now" so exit strategy in my parlance and I'm assuming it's the same for you is trying to figure out how to not be so dependent on others if I stop working my income goes away or it dramatically reduces because team members are not as proficient as me and or if I want to start setting more money aside and net more I going to really ramp up my production and I would assume that's part of your challenge as well when you were looking at that initially.

Nicki: That was the challenge that was presenting itself and that I was seeing people who were actually moving over to EXP because they tried to sell their brokerage's and or surprised at what they were the offers they were getting were not you know sufficient for retirement and so that became a concern for me.

Kevin: So you're heading on another topic we're actually seeing and I've interviewed several of them lots of independent brokers who are decided to become powered by the EXP and so what Nikki's referring to is lots of the independent brokerage community is looking at exit strategy as well in other words. There has never been a time in which independent brokers unless they're enormous have gotten great offers. Right? You have to be of huge size to get anybody that excited and interested in you and other than that your margins and your income are to the point where you're going to get basically just somebody who says I'll do and earn now or I'll give you some nominal amount of money and you can stay around for five years and help us run it. And most people don't want to do it right?

Nicki: Right. No thank you.

Kevin: Yeah exactly so because of the branding and and you know Mitch Riback is an episode that somebody can go listen to out of Florida. Mitch had a huge multimillion dollar offer on his brokerage and he still elected to become powered by EXP. So what Nicki is talking about is something that's sort of an industry dynamic right now. You know if you own a franchise and you listen to this you've got a little bit of a different challenge right. You're going to have to make your own best decision on what to do. But everybody that was excited that I've ever met that actually opened a franchise location unless it's coming up for renewal and they're in the window in the last six months where they can get out. They're not very happy right because they're are sort of stuck with it unless they can find somebody to buy it. So we don't have a lot of great advice for you of your franchise so that although we would tell you that there are plenty of them who have decided to sell and cash out who have come over and join EXP. So there is a path for you to get out of it you'll have to do your own due diligence and figure out how to make that happen. But you're in a little bit of a different spot than an independent broker. So you know just work your way through that process will probably at some point in the near future have somebody that was a previous franchise owner and they'll talk a little about how they were able to unwind there by selling their operations. So Nicki I want to talk to you about the EXP value proposition because you