Ep 77: Why Are the Best Agents Moving to eXp? Get The Deets Inside Transcript

All right, ladies, welcome to this she is extraordinary podcast episode with my good friend Susie truax. I’m so excited. Susie say hey, hey everybody. Hey ladies, how are you today? Hope you’re all well. Susie is my twin. Well, not really. But y’all you guys know I have an actual twin Jan, but Suzy is born not only our same day, but our same year. So she’s like a triplet kind of sorta right. So you know,
we look alike, don’t we? like red hair? 30? Guys?

Close, right. Well, Susie is a former board member of the XP world holdings, she was the first active selling agent within XP on the board. She was the former chairperson of the agency Advisory Council. So she was like, they’re kind of earlier on. And I wanted to bring Susie on because she actually brought me over to XP. Now, you may not know some of you listening may not know that I am a licensed real estate agent here in Pennsylvania since 2008.

And what since fall of 2017, I’m an ESP agent. And the reason that I moved from Berkshire Hathaway to XP was because of this compelling model business model they have. And so I wanted to bring Suzy on, because anybody that is not any XP, I think you owe it to yourself to hear some of the amazingness inside and what convinced me and you’ll hear a compelling story from Suzy, as to why she moved from Keller. So, Suzy, how about we start there? Hi, why don’t you tell the ladies about your background in real estate?

Absolutely. I wanted to piggyback off what you just said, you know, instantly, when people hear about another brokerage, there’s thinking these people are trying to recruit me, no, you’re a business person, you need to look at all the models and at least know what you’re saying no to. And today, I’m going to tell you top to bottom about this company. And that way you can make a good decision financially, culturally and all that. And, and I feel like it’s our mission to tell all great real estate agents out in the universe about this company because it is changing, literally changing people’s lives.

Yes. I’m not allowed to talk about the stock too much. Because, you know, there’s things called income claims, and we are a publicly traded company. We don’t give our agent stock and but we’re privately held, so it doesn’t really have a valuation. We are traded on NASDAQ, the tech the ticker symbol is SPI. And if you want to look at the stock story, look at what it was when I joined in March of 2017. And look at what it is today. I’m not making any income claims than Windows where stock is going to go up and down and and enter at your own risk, right anyway. So let me tell you about me.

This is my 22nd year in real estate. I’m a broker in three states, California, Pennsylvania and Florida. I’m also licensed in New Jersey, and I have been everywhere I like to sing that old country song I’ve been everywhere. Yeah, I’m not singing but that’s my that’s my one. Because I started out at what is now Berkshire Hathaway when I was a brand new baby agent in 1999. And then I got recruited to a REMAX when some kind gentleman showed me. He reverse engineered the math to show me how much money I left on the table. The year that I made. $52,000 is my second full year in the business. And on a the split ended up. My broker owners made 100,000 off of me, they made double. And when he showed me that math, I was like, Well, I have to go wherever you are, because you showed this to me that that gentleman started the second second Keller Williams in the state of Pennsylvania. So I of course followed him to there.

And then a little bit later back to REMAX. I was a launching team leader for Keller Williams and Center City Philadelphia. I opened the first Keller Williams office in the city of Philadelphia. I’ve brought in people to open franchises in Keller Williams model. I’ve done turnarounds on Coldwell bankers office I’ve been a management employee for NRT, which is the parent company of real g which is called banker century 21. Sotheby’s all those. So flash forward, I moved to California, I help relaunch Keller Williams in San Francisco, I’m helping the lady who owns it get that thing off the ground. And in the meantime, they just they offer me a position in the Silicon Valley Keller Williams and I and I take it as a team leader do doing a turnaround on a Keller Williams they’re in Silicon Valley, come across the XP model on a private Team Leader Facebook group, and I’m like why better find out what this is because not that one, one a Keller Williams franchise they’re number one and number four, eight. have like hundreds of agents had left to go to XP and I didn’t know what it was.

So when I started looking at this model, I’m employed in Silicon Valley, I’m making six figures plus some earning equity in the company, I have healthcare benefits, which is like real estate agents or like what someone gave you healthcare. And I looked at the model, no one recruited me, I just kept exploring the model exploring the model exploring the model, the model made so much sense that I couldn’t even believe it was true. Remember, I’ve been in real estate for a long time at this point in time, and I’m cynical about everybody promising me the sun, moon and stars, right. So I get I, I look at the model. And that makes sense. But um, I have this great job and I have a huge rent in Silicon Valley. And then I need the then CEO and now CEO of XP, realty Jason guessing I need him at an event. And within three minutes, I know that this is a highly genuine and full of integrity person. And between the leadership being astounding, and the tools and the business model being unbelievable.

I made the leap, walked away from everything in my six figure salary equity, to come over to just be an agent with XP. And what and what I can tell you is that three and a half years later, I still wake up every single day, energized to be with this company. And we don’t we don’t have any rah rah because we don’t have any. We don’t, you know, we don’t have any physical offices unless the state requires you to. But every single day, I wake up on fire for this company.

And really, what I like to say about the company is that I feel like when I met the founder, Glenn Sanford, and I heard some of his backstory as to why he founded this company and what he was thinking, this is the democratization of real estate. As a brokerage,
I like that, that’s a good word, you can go out and start your own company, go for it, you couldn’t pay me to run someone’s brokerage because I’ve done it. And it’s the hardest work there is independent broker owners unless they scale really big and have huge leverage through a lot, a lot of agents.

Otherwise, broker owners are selling, and they’re paying for the lights and fixing the copier, and doing all that stuff. So I think of this as the democratization of real estate, and really what it is, it’s an equal access to opportunity within owning your own little company within our platform. So I’m going to go into the different pieces of that. And if anybody has any questions, they can certainly reach out to me on facebook Suzy Truex su ZYTRUX. On Facebook, or email me it’s Suzy t su ZY letter T at XP, realty calm, but this access to opportunity. You know, it’s been my experience, Judy, and maybe you had this happen to you, too. It seems like there’s a hierarchy that’s unspoken and different real estate brokerages and the end, this is just capitalism, the guy who puts up the money or the gal who puts up the money for the franchise, or the person who’s paying the rent and paying for the brand or paying the bills, they get the lion’s share of the money.

But they also get the lion’s share the opportunity for all the different you know, all the profit, everything like that within XP, and we’ll go into that in a little bit. Every single agent has access to enormous opportunity that’s even beyond selling real estate. If you just want to sell real estate, we have the best tools in the industry. We have the best commission splits, no franchise fees, all that. But anyway, I’m so excited. Can you tell? I know. Yes. I can tell. So ladies, I just like I say I am not wanting to be pushy. And you know that about me, right? I sell from authenticity.

And I basically to me, sales is service. But because it has changed my life because it has changed my twin sister’s life because it has changed so many Do you understand the? I want you to Yeah, and your life too. I want you ladies to hear how this model is different from other real estate brokers. And let’s just start with the split. I mean, that’s pretty basic. Right? And that’s just the beginning of it. But I think even even there’s this speaks volumes, right? So and the one thing you know, the business model is straightforward. What I didn’t love or you could love depending on how great of a negotiator you are. And I’ve been on both sides of the desk in the office for this one.

I’ve been the manager so I’ve had agents come in and try to renegotiate their splits with me and I’ve been the one you know, explaining how the splits work. At different companies have this, you know, they have a they have a spreadsheet that shows when you’re at this to this level of volume, you get this percentage and then you bumped up from this to this and then and then you reset and it’s like what Well, I think That’s just, I don’t know, that’s too distracting for most agents, I want to know how much money I’m going to make on my next deal because I got bills to pay. And I don’t want to go back in and create a Google spreadsheet calculator to figure out what my commission splits gonna be in XP. Remember, it’s the democratization of real estate. So if you’re a gal who’s doing a million dollars a year in GCI, or if you’re a gal who’s doing $10,000 a year in GCI, the split is the same. It’s an 8020 split. Now caveat, we have a program for brand new agents.

And the first three transactions, they do have to give up some to their mentor in the company, because they’re getting massive training. We’ll talk about that in a bit. But it’s an 8020 split for every single person and a cap of $16,000. bar none no changes, unless, you know, we have different countries. And there’s different different reasons that and I won’t go into that. Now, because we are international, some countries have a different arrangement because the agents are paid in different ways than we are here in the US. But everybody here in the US is on an 8020 split with a $16,000 cap for the agents.

Two things. If you’re a coal banker, Keller Williams Sotheby’s century 21. Any franchise, you know, you can say you’re on an 8020 split at your place, but really, you’re on a 7420, or something along those lines, because they never count that royalty or franchise fee in with how they tell you about your split. So just remember, we’re at 20. And if you’re on a Navy 20, you just have to subtract off your royalty fee. Most of those things come out of your agent’s commission. And we don’t even pay attention, right, we’re worried about what’s left over at the bottom. But when you start doing the math about how much money you’re giving away, you you’ll be surprised at 20 16,000 is our cap, I want to talk about capping really quickly, Judy, because for a lot of gals come from franchise or brokerage models that don’t have a cap, meaning they’re on they’re at 20. No matter if they do five deals No matter if they do 500 deals.

And so essentially, this 8020 split, the way it works is roughly around $3 million in sales volume is when the 20% of XP goes away, and you keep 100%. So I like to call the 8020 to 100%. The cap at the 3 million in volume is about $16,000 that you pay at the XP and then you don’t pay them anything else for the rest of your year. It’s not January to December, it’s say you come over in August and your anniversary date September 1, it’s September 1 till August 31 next year. And if you cap in February, you keep everything from February till your next anniversary date. So I just want to make that clear, because some people don’t even know what I’m talking about. When they talk about cap just think about it’s a cap is a limit of how much money you’re going to share with your brokerage. Yeah, your year, which I love, which I love. That’s really, really good 16,000 you pay 16,000 and the rest is yours. And again, that is truly That is true.

That’s a true number as opposed to Yeah, if there’s a cap, then you get the rest. But wait, you always get that 6% taken out a franchise fee. And I’m and recently one of my agents shared with me, you know, somebody kindly did the math for her when she was at her Berkshire Hathaway. And she could no longer stay when she realized that she gave $83,000 up to her brokerage. Wow. And like I said, I The same thing happened to me, I didn’t understand how it all works because I was newer in the business. And All I knew is I was getting a paycheck and most agents were all just looking for what’s gonna be left over. Because I get to divvy that up to pay my bills. But when you realize that, you know, the states force you to hang your license with someone unless you start your own brokerage, there should be a number that you have in mind that you’re unwilling to pay more for those services. And for me, the number is $16,000.

I have a full you know, full marketing team and suite. I have full legal I have full onboarding, I have full training and education. My bro all broker all broker advice for $16,000. That’s worth it to me. I don’t have to pay it if I don’t earn it. But for me to run my own business within this business, that’s what I’m willing to pay. It’s beautiful.

It’s not I but if you want me to run your brokerage, you have to pay me at least a million and a half per year in salary. Yeah, way more than 16 grand Right. Exactly. Yeah. So let’s talk to the ladies about all of the awesome tech that they get with it including an amazing CRM and you know the leads this talk about that for Oh my gosh, well, and so that’s what’s exciting. So the thing about ESP is it actually is, you know, this is from the words of the founder, Glenn Sanford, it’s, it’s a platform. So we are an actual technology company.

Our unique selling proposition, besides all this other great stuff is that we have a cloud campus, when people hear that we’re a virtual real estate company, they think we’re all sitting around doing zoom all day, and there’s no office and there’s no support, and there’s no one to talk to. And actually, we do have an office, we have over 500 full time employees with an XP. And they’re working in accounting, and they’re working in marketing, and they’re working in agent services. And they’re working in the legal team. And, you know, the stock group and the education. And all these different people are supported and housed in this thing called XP worlds.

And the beauty of it is, I don’t know about you guys, but I’m busy selling real estate. I need whatever I need from the office. I need it like this usually on the fly. Yeah, on the fly. If you girls or anything like me, you’re doing your deals, you’re managing your household, you’re doing all this stuff and your hair’s on fire when something goes wrong. And you need someone immediately. Well, from 8am, Eastern, till 8pm, Eastern Monday through Friday, the office is open and someone will be there to help you. So for example, today, I had a question for accounting. And I logged into exp world. And I clicked the thing that says go to, and my little person sat with a guy named Nick. And he answered my question and sent me on my way within five minutes.

When I when I need my broker, I go right to my broker, either my California or my Pennsylvania broker room, I just go right into the room and have an appointment, sitting face to face over over the art world. Yeah, my broker and I can have real time solutions to my problems. So that’s one XP world. So what about kV core. So my favorite thing to talk about kV core is when our chief technology officer told me that we were getting when he showed me, we were getting this, I because I said I want a consumer facing website that’s really robust. But I also want to generate leads with it. And I don’t want to have to have all these different pieces of technology and have to learn five different systems.

I want it all in one, because my hair’s always on fire and doing things. And I don’t have time to learn a bunch of systems nerd any more importantly, I never remember the passwords for all of them, so I won’t use it. And so what I loved about this is you can run your entire business from three pieces of technology that we offer the XP one is the world where you can go in and take training. I’ve taught classes to 500 people in that auditorium an XP world, unique cavey core, which is your consumer facing website. But it also has lead generation capabilities on steroids. If you take three hours and learn how to use it. You can have leads coming to your inbox while you’re sleeping, and has the CRM with automated programs.

And the third piece is the XP enterprise dashboard, which is your all in one piece. It tracks your Commission’s it tracks your transactions, it tracks your stock, the marketing, all the marketing is in there with a click of a button. It auto populates with your entire everything, your name, your license, number, your photo, everything. Everything you need is in these three pieces of technology. But about cavey core you you don’t have to be at XP to have KB core because kV core is not our company. But if you have to buy it on the street, I’ve been told by a Berkshire Hathaway agent who is using cavey core and loved it. She was paying $530 a month for the thing that we are giving Texans.

Yeah. And so and so in addition to those three pieces of business are three pieces of technology. The other thing that I love that we have, because it allows collaboration really quickly, is our company is on workplace by Facebook. So it looks just like your regular Facebook, which we’re all used to. I love it. I love it, too. It has the chat feature. So I know an agent last week who was had a question about something I can’t even remember what her question was. And she told me she messaged the founder, Glen Sanford, and he got back to her immediately. Oh, and this was at nighttime when he was watching TV. Come on. I’m dead serious. So and so just to tell you from a collaboration standpoint, within that XP workplace by Facebook, there’s probably over 3000 groups and counting. You can create a group for whatever your interest is.

I’m involved in the cryptocurrency and blockchain space so I belong to a group in there. I built a private group for myself. agents that are in my group. There’s one that’s commercial and investment. If you want to learn how to be an Airbnb investor, anything you can think of is in there this the Mexico group, the Spanish speaking agents, whatever it is, we’ve got it. Or if we don’t have it, you like it, you can create it in there and find other people to collaborate with with the same interest that you have. Yeah, I mean, it’s just so amazing, the connections and how great the agents are to get referrals across not just the states, but for Canada and the world. I mean, it’s just an amazing partnership among agents.

I really, yes. It’s, um, for other reasons. And we’ll go into in a little bit, I’ve never it’s funny people say, you know, other support, there’s no water cooler, you can’t stand around and get ideas from each other. I’ve never been in a more collaborative environment in any profession that I’ve ever worked in, in any company I’ve ever worked in. In fact, sometimes I have to shut it off. Because I’m like, No, no, we’re talking today. You know, yeah. Because it just creates it real. And that’s one of our core values. Collaboration is one of our core values. And we really do collaborate. So here, you can go take a class from the number one Coldwell Banker, previously, number one Cole banker agent in the entire system, on his listing presentation, where he, I think he said his conversion was 97%. And, you know, I, I know in my offices, why was the top producer, but I’ve heard in other offices, the top producers go shut their doors and don’t share what they’re doing, because they’re working when you’re competing against each other within your same office.

That is not how this works. Here. We are all in this together. And so and that’s because the equity piece, which we’ll talk about, so, you know, if if Joe who’s not in my group, but he’s in my area, if he wins, and I see his XP listing out in Lake Tahoe, like I did a couple weeks ago, I didn’t feel like oh, Joe got that listing. And I didn’t have a chance. I’m like, Yeah, yeah, because we’re we are in this together. So we all want each other to win. So we share all of our secrets of how to succeed in the business. And I love that. And I do want to say that cavey core ladies, I occasionally get text for leads. And I didn’t even set my kV core, because I’m not in production right now. So yeah, when we say this is a robust lead generation opportunity. That’s That’s the truth. I, I’d love to talk on the concept of passive income. Well, no, because the one thing I mean, ladies, if you didn’t catch this, ESP, you know, they put the money where the mouth is, as far as agent centric focus.

You know, other other brokers talk about it. But wait a minute, no, this one is true. It’s always about how can I best support the agent? How can I get them to make more money to to maximize and optimize their opportunity? And so there’s tons of different ways of making money other than strictly selling real estate. So I’d love you to address that, Suzy. Well, and and I absolutely will. I do. I love this story. Because this passive income opportunity is so huge, that I can’t make any income claims. I can’t tell you how much money there are. Some people in our company are making, and they’ve been with the company for five years or less, but it’s significant. And we would all like to be making that kind of money no matter what. But I like to flashback to three years ago, we had a vision meeting in Washington state where Glenn Sanford lives it on the grounds of where he lives. And this is my first time meeting Glen Sanford. So we’re in this meeting.

And we’re coming up with this vision. And I say, hey, Glenn, you know, I’m Suzy, this is our first time meeting face to face. And please tell me like, before we start today, what were you thinking when you started this company? Like what exactly compelled you? and Glenn said, you know, he had come from corporate corporate background, he had worked in the financial industry, he had done a couple of startups. So he was not a lifelong real estate agent, like a lot of the rest of us. And he said, Susie, you know, I’ve been around real estate now for a while. And I see that real estate agents are the hardest working people in any industry. And when they finish up their careers, generally speaking, they have nothing left than their last commission check. I wanted agents to have a way to retire from this business and it’s like, wow, okay, so that’s why you’re giving all this money away. And so there’s multiple passive income opportunities.

I’m going to talk about rev share, and equity because those are the two biggest If anybody’s interested in the other ways to make money, I’m going to talk quickly about them. But the two biggies are equity. And rev share equity is simply just like the Silicon Valley model. People come in. And they, you know, they employees can buy stock in the company, or they receive stock or options and things like this, well, at EA XP, there’s a couple of different ways to get stock in the company. One is you join the company, as a real estate agent, and you sell real estate. And every year when you have your first transaction, XP gives you some XP world holding stock for having your first transaction. And then after you pay in your $16,000, you get more stock for capping. There’s two right there. The third way is say, Judy, you brought in a friend that used to work with in Berkshire Hathaway, and let’s call her Jane. And Jane joins, and she has her first closing in October, she receives her stock for her first closing, and you receive stock from the company for introducing a great agent to the company. So was that 1234 the other way, which I love because we’re all most of us who are at franchises are in the habit of sharing that 6% franchise fee, I’ve heard as high as 8% franchise fee, well, at EA XP, you can take 5% of your commission, and buy stock with your commission dollars at a 10% discount.

So right off the bat, you’re getting a discount, and you’re already and you’re building towards something, a savings or whatever, with that thing that you’ve already been spending and just giving it away to your real estate company. So I’ve done that since the beginning. And I can tell you that stock I purchased in July of 2020. Or I’m sorry, it was in at the end of May was $2 and 80 cents, and you can look up what it is today. But I’m really happy that I practiced you know putting that money away towards my retirement by buying stock at a discount. And so the other you can buy stock, you can go on go to E trade and buy stock today, if you want ESP is the ticker, the last way is mind blowing. This is the best way I think to receive stock. You’re an active selling real estate agent, you’re a rock star, you have a team whatever your deal is you have a brokerage and you want to come over and bring your agents in under as a team. XP does something called the icon bonus. And this is what I always say to people XP pays agents to be they’re not you know, the agents don’t pay them.

The outcome bonuses, this, if you are a Top Producing agent, you don’t even have to be like a $50 million sell person if you cap which is your 3 million in volume. And you do 2020 units after that. So cap and in some places, you know New York City parts of Calif coastal California, that could be one transaction you’re capping. I have an agent in Palo Alto, she kept him transaction looks like this is crazy. capping and then 20 units after that, you get your entire 16. Now there’s some cultural requirements you have to give back to the XP community by teaching and things like this. But you get your entire cap back in the form of stock. So significant. Yes, and especially, you know, especially if you didn’t really have to pay for it, you got it all back in stock. And it contributes to, you know, down the road, your retirement.

There’s some vesting requirements for the different branches of stock, but the stock that you buy with your commission, you can turn around and sell it tomorrow. So say you buy it today at attempt or at the end of the month at a 10% discount and it goes up 50%. In September, I’m not making any projections, I have no idea. I have zero idea of what’s actually happening in the market. And I don’t think anybody else does. But I’m just saying, you know, it could also lose value. Let’s say that it can lose value, but it’s just a way to start to think in a different way about the money that you’re earning from real estate but I love this icon bonus. I think this is amazing.

And we have we have hundreds and hundreds of iKON agents in XP. It works really, really well for top producers and people who are doing a lot a lot of units in order to make a living, even if they’re not even if they’re not in high dollar areas. I met a lady in a certain state and she was selling for I sold 45 homes a year when I lived in Pennsylvania. I would have been I would have been an icon agent, no problem and so it’s such It’s unbelievable.

Yeah, by all the top agents so many top agents across the nation and Canada and elsewhere. They’re moving to XP because it’s not. It’s not a profit share. It’s a rev share. It’s a revenue share. So the pie is bigger. So let’s talk about revenue share, because that was the equity piece revenue share. Whoa, you’re gonna hear people say, oh, that pyramid, it’s an MLM letter the face like to say these things about, I have a secret to tell the ladies. Okay? I’m probably gonna get in trouble. Because I’ve been a manager of a company, dirty little secret, your manager is getting your revenue share. Wow, it’s called an override.

This is not new to real estate. This is not a new idea. And Glenn’s idea was, instead of we don’t have any managers, we have brokers and things like that. But we don’t have sales managers, we don’t have all the overhead that a normal real estate company has. And so, and other companies have profit share, there’s a couple of other companies that have some version of profit share, basically wouldn’t what that all is overrides profit share is money that the agents pay to the company gets shared to either the manager as some kind of bonus every month override. Or it goes through the expense treatment, and gets squeezed out at the bottom with what’s left and shared to the agents who helped bring the other agents to the company. I have no problem with this. I just like top line money versus bottom line money, I want my money before it goes through all the expenses because I don’t know where you guys are spending the money.

And I don’t want you to have to account to me where you’re spending the money. If you want to buy yourself a yacht or have three month vacation, your fabulous just don’t take it out of my pocket. And so, so revenue share is an XPS way of rewarding agents who bring other agents to the company who share the eat the opportunity to democratization of real estate who share that opportunity with other great good culture agents, and it doesn’t come out of your agent’s pocket. That’s the main thing that’s different. It’s not coming out of the 80% side that your friend Jane, right, your friend Jane that you brought over from your former company, she does her deal in October, you get stock, she gets stock, and then you receive revenue share.

It’s not coming from Jane’s pockets 80%. It’s coming from XPS 20%. They’re not taking anything away from Jane to give to anybody else they’re taking it away from Well, wait, it’s a shareholder company, I was going to say the owner, but I’m the owner, we’re the owners, right. And so that’s how this works. And, you know, duty, even if somebody I mean, it’s crazy to ignore this opportunity, because again, it’s equal opportunity. At you know, at some of the other brokerages, the managers are the only one who have access to this. And, you know, I don’t want to use the term but the managers, the managers who are doing the recruiting are the ones who have the biggest opportunity to have this. In our company. We support all agents, in talking to their friends, there’s marketing materials, and places for them to go to talk about how those to have those conversations, because their friends are going to join anyway, their friends are going to join with or without them.

This thing is me I can’t make any predictions. But when I this is just to tell you, we have no paid recruiters, we have a couple of people who run the growth to support all the agents. But we have no paid team leaders, recruiters managers, things like this. When I came over, in March of 2017, there were 3000 agents. It’s now august of 2020. And we have 32,000 agents. And we’ve just announced that we’re we’re opening Canada, Australia and the UK. And we just announced that we’re opening in Mexico, India, Portugal, France and South Africa. So and that will be a couple of those will, most likely as far as you know, as long as we get through the regulation, hoops in those countries.

A couple of those will be open by the end of the year. And so the opportunity for you to talk to your friends about this and have not, you know, I can’t make any income claims again. But it’s not a percent it’s not a it’s not a point 005 percentage of something it’s like a three and a half percentage of something. And I don’t want to confuse everybody with math but if it if it if it pays your car payment for you every month, that’s something Yeah, that’s something and the stock that at the at the back end, it’s there for long term. One other potential passive income that I really wanted touch on his eye buyer. Investor platform. And so you can say it better than me. But here’s a way to do very little, for some great money coming in. Yeah, so and so let me quickly talk about what I buyer everybody hears this term, most people don’t know what it actually means that I didn’t until we got our own ibuyer platform to I buyers are just institutional investors, there’s funds of peep, people put their money together, and they go out and buy properties.

That’s their job, they go out all the time, every week, buying 10 2030 properties. Some of the big players in this field will z has become the, you know, z as you guys all know who z is we don’t like paying them. And they’ve basically, you know, force us to pay for our own listing leads. But anyway, that company has become an ibuyer, they’re directly buying from sellers, and then turning around and, you know, doing whatever and selling it, there’s another couple of companies that do it, the difference with XP decided to do is we’re not we’re not crazy, we have to be responsible to our shareholders, which is us. And also, you know, anyone who’s invested out in the open market, we’re not going to buy real estate, we’re not going to buy properties, that’s too risky, too risky. But what we did do is we’ve created a platform called Express offers.

And Express offers is a place where institutional investors, eye buyers come together with sellers who want to sell their property to make a deal within this platform, there’s multiple ways to make money doing just just the ibuyer platform, if you wanted to specialize in working with investors, and investment properties, you could, you could focus your entire business on this. So basically, how it works is this and this is how to make money on it. Number one, you can bring this is my favorite most passive way to make money doing this, you can bring the investors to the platform. So I don’t know about you guys, I’ve been an investor, just a mom and pop investors since 2000.

And so I’m in a couple of different investor network groups. all day, every day, I’m getting this property, you know, this ROI? Here it is, do you know here’s another property, I also belong to a couple websites that have people selling their investment properties all over the country. Recently, what I decided to do is when I found out about this opportunity is ask one of my guys who is regularly sending me stuff, hey, Eric, how many properties Do you buy a year, because to be an eye buyer, you have to the company or the person has to buy 50 or more homes per year. And believe me, there’s plenty of people doing this.

And he’s like, well, I buy 120 homes per year, I’m like, Yay, you qualified to be part of this thing, if you’re interested. And so long story long. I, I don’t want to go into all the minutiae, we could do a whole nother class on that. But I brought this gentleman’s company hit, you know, his personal company on as an eye buyer. And, and he was looking at the Tennessee market, and some in Pennsylvania, multiple other states. But if he buys 120 properties per year, if he buys five with me, or not with me, just through the ibuyer platform, I don’t have to do a single thing to it, I just introduced him, I took him through the channels to get on boarded to the platform. And when his company buys, I’ll make $800 just for introducing him. So if they buy five $4,000, I don’t know how many they’re going to buy.

But there’s an opportunity, I just set it and forget it, which is what is great about passive income, now you can make money. And it’s a whole nother conversation about bringing sellers to the side buyer platform, if you have a seller who doesn’t want to spend any money to fix their house up and you know that they’re going to take a 20% discount, because of the condition, put it on here and let them and let these I buyers bid on it. It’s a cash offer within 72 hours, if they’re interested. And they close within 10 days, they do inspections. So it is contingent on that. But it’s never excuse me contingent on financing. So you can make you can make your entire real estate business just on this ibuyer platform really interesting.

Yeah. So we can do a whole nother class on that if you like. Yeah, yeah. Well, that’s just so much great information. One thing that I want to hit on before we end for today, and thank you so much for Yes, yes. Um, the whole idea of onboarding, because let me just, I won’t I won’t tell you. I won’t bore you with the story today. But in recent days, this whole week, I’ve dealt with mammoth sized organizations, unreal estate related, but they’re so big, that it’s like it’s hard to find a person or the people that can fix my issue. So that’s kind of it Hot Topic for me, especially today. So I want to make sure the ladies listening, and if they’re loving where they are right now, but all this sounds pretty enticing, and they might be thinking about Yeah, but what’s that onboarding process? Like? Is it you know, I don’t know anybody? And how does that work? Can you address that? Yeah, so absolutely. So Well, number one, if you are further interested in this, just contact Judy or I really, because there’s just so much information to give it’s way more than even that we haven’t even talked about the education, which is state of the art in the industry.

That’s all I can say. I was a productivity coach. I remember putting out stuff that was copyrighted something in the last decade and thinking, hmm, the smartphone was invented since then. So things have changed significantly. training on things like you know, how to lead generate in your sleep via social media, how to become an Airbnb investor, you know, all these different things. So we’ll talk about the mentoring program. But all I want to say is state of the art. So back to your question, onboarding, because that’s an amazing, I have a degree in HR. And what most people don’t realize onboarding feels like you’re just getting set up. But that’s actually where the glue happens. And we have gotten this down to a science of ESP, number one, if you decide to pursue further information with us contact Judy, or I, you know, the ladies in our group get handheld by me, because I do have almost all the answers. I don’t have all the answers.

Because the answers, sometimes things change. And I’m like, let me figure it out. But I know who to go to for the answers and point people in the right direction. The other thing is, is that you know what, say you sign up today, you contact Judy, and you say, Judy, amen, I want to come to XP, and you’ve given me all this great information about and I trust you and you have high integrity, I know you’re going to take care of me. Plus, Susie will, you know, be my mom, or my grandma? Yeah.

And so you join, what’s going to happen is, the minute you submit your application, Judy is going to get a notification that you signed up. And she’s going to tell me, and we’re going to be like on top of it. But we don’t need to be on top of it, I just I just want to make sure that you prioritize what to do first, because there’s so much to do, my main goal is the agents get in and get productive right away and get connected. But you get a you’ll get a little tracker that tells you where you are in the process. Plus, they came out with this last year, you get your own onboarding concierge for the first entire year of joining the company. So I had a gentleman join recently. And he’s not a native technology user.

And he had a little bit of issues getting the world installed on his computer. And so directed him he said he had a meeting with his onboarding concierge, and they had tech support, come on his computer, take the old version of the world off and put the new one on and he’s on his way. So you have the entire you have our support our group support. Plus the company gives you your own onboarding concierge the entire 365 days, your first year with a company. So the to make sure because there’s so much great stuff. Next, and that’s what’s really great, because it’s important for me to know that if I have a question, I don’t want to pussyfoot around. No, I want a straight answer. And I want it sooner than later. And so shortly after I joined I had some issues with my computer. It’s always my computer.

I’m not a techie early, and Susie like either I am not either. I’m not either. Sophie listen. video game. So I thought the avatar was a little weird. But I’m telling you, what I witnessed was amazing. Like, you know, it was clear for me where to go, I take my number, it was very professionally handled. And within minutes I was being cared for, you know, problem solved. And it was just a really great experience. And it really surprised me. So if anyone out there like me is not a gamer. And the idea of XP world is like okay, no, please. I mean, this is worth a conversation for the money potential, which is so different than anywhere else out there. And the good people miss of it. I mean, this is these are good people. And and there really is that when Suzy mentioned about the collaboration, it truly is. XP we are like in this together.

That’s not like a cliche thing for us. It’s really real life so it’s true. I’m just really excited. So Suzy, what anything else that you’d like to say that we didn’t get a chance. I got so many things I really, you know, we talked about collaboration in the culture. And you know, the other thing that I wanted to say from a culture standpoint, we have so many ways to help agents. One of them is we we apply for nonprofit status. But you know, when it first happened a few years ago, when there were the big hurricane that hit Houston, and a lot of agents were impacted by that we started a GoFundMe, but then we grew to this thing called extend a hand. And that’s our internal support system for just our agents. You know, so many agents have their philanthropic things, for their, you know, they make it part of their listing thing, or they’re giving back to their community.

And that’s awesome. This is our community, we are in this together. So we have our extended hand, which is, you know, agents who are having serious illness and they can’t work or they can’t get to their Treatment Center in New York City, because it’s, you know, a financial hardship for their family. We’ve given grants not paid back to agents and all kinds of Dire Straits for a while at the beginning of COVID. I think we had some grants, I’m not sure about this, but there was some talk about grants for that. I mean, thank thank goodness, you know, so much so many of us are able to work in this has been a good time for business. But no, we have not was started by agents, if you have an idea, they have something you would like to do.

The sky’s the limit here, you will find people to support your group, I’m launching one. Right now I have an initiative. It’s on my heart. Someone a gal that I met last year told me about women and sex trafficking. And I had this idea that these were women from other countries and and how it worked is not how it actually works. Here in the US. These are American young girls who are getting kidnapped and put into service and I’m starting my group, and I’m inviting all these all of my agents all across the country, especially the women to support this initiative. It’s not my initiative, it’s somebody else’s who I’ve done the research, but I know, I’ll find at least 30 other people who will say Susie, that resonates with me, and I would like to help support that cause. And so really, from a cultural standpoint, every person has also equal access to creating opportunities or driving initiatives within our company, no one’s gonna say, Oh, you want to start a group for?

I don’t know, teddy bears buying real estate, whatever it is, yeah, you know, I have it, as long as it’s legal in your state, and you’re not breaking, you’re not breaking any advertising, branding guideline issues, or doing anything illegal, you know, no one’s gonna stop you. And so it’s really as if you really are owning your own business within this company. And the camaraderie is, the craziest thing is I have the best, best friendships in a company. And some of the people that I have these best friendships with, I’ve seen in person three times ever, or never, or never. varium relationships are very important. And, you know, like I said, we call this The Love Boat. Because we all we all love it. It’s kind of crazy. But I’m so I’m so glad, Judy, because you know, I love to tell the story about how I met you, I found the girls guy when I was just floating around on Facebook.

And I saw and I was like, wow, these women are high integrity, and really just givers. And I think that me finding you, my, my twin triplet sister. And also finding XP sort of all kind of, you know, it was synergistic, I think, because it’s all coming from the same great, good place. So. So for those that may not know, I besides the blessed to drive community Facebook group of Christian entrepreneurial women, I founded girls guide to outrageous real estate success, which is a group of almost 30,000 Real Estate women across throughout the industry and across the world. So yes, I’m very proud of the work that I’ve done there. So we have lots of ladies and so that’s why I felt compelled also to do this episode. But all right, so I don’t end an episode without asking this question.

I’m not prepared. Oh, okay. Well, you’re a quick thinker here. So it’s not hard. This is called the she is extraordinary podcast. And so I like to end with my guests telling our listeners about an extraordinary woman in your life. And what makes her extraordinary. Oh, wow. Well, well, I have I have a special girl in mind, and I’m probably biased. You Yeah. Is it my little girl? Yeah. My so my little girl is a woman actually. Um, and You know, she’s just so brave. My daughter is 26 years old. Her name is Samantha Graf. And next week, I’m moving her up to New Haven, Connecticut, because she’s going to Yale for graduate school. And this is a girl talk about unstoppable. She made the decision when while I raised my children a really suburban rural area. And this is not a she’s not a gal who likes big crowds and things like that. But when she realized that the art school she wanted to go to was in New York City, she overcame her fear of the big city and live there.

And she’s been successful in her career, representing artists in the publishing industry. And then in January, she decided to apply to only the top art schools in the country for grad school. She got a full ride plus plus money from one but she decided to wait to see what was going to happen with Yale, I mean, talk about dreaming big and making it happen. And here we are, she’s going to Yale, and she’s a good person who, you know, is loving and accepting of people from every background. And so that’s my own. That’s a proud Mama. And rightly so. That is, yeah, great to see ya. Awesome. Well, baby because she had an extraordinary mom.

Well, I think she’s, she’s exceeding me, and I’m okay with that. That makes me very happy. My job is almost my job’s not done. But I, you know, that makes me really happy. So thank you for asking. Very proud Suzy. All right. Well, listen, I thank you, Susie, for being here. It is late on a Wednesday evening, and thank you for joining me and ladies, Listen, my pleasure.

Well, thank you, Susie. So ladies, if you have a curiosity and you want to talk more about it, let me know. Let Susie know, you know how to reach each of us. We’ve talked about that.

The other thing I want to know is I want to hear your feedback on this episode. So if you would take a moment and leave a rating and leave a review, I would be so grateful. But for now, we’re gonna say bye.

Thanks again. Susie. Bye bye. All you ladies have a great week. Take care.

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