Agent-owned cloud brokerage eXP Realty opens in Alberta

eXp Realty International Corporation has welcomed Willie Ip, a founding partner of the Urban Realty Group out of Alberta, as its managing broker in Alberta.

exp RealtyeXp is working to acquire as many as 25 other agents from Alberta’s Urban Realty Group and metropolitan Calgary region.

“The opportunity to launch and grow the eXp Realty brand in Alberta represents a once in a lifetime opportunity for me and my partners,” Ip said in an announcement. “Our agents are some of the most talented and entrepreneurial professionals in the industry in this region, and the decision to join eXp provides each of them the opportunity to grow and scale their own businesses, leveraging eXp Realty’s systems and technologies.”

Ip had been Broker of record for Urban Property and brings to the table an expertise in the industry, exceptional customer service, business administration and sales.

Part of eXp’s unique culture

Ip said the move would allow the  agents to become part of eXp’s unique culture, a culture “that places a premium on collaboration, sharing across borders, and developing an ownership stake — not just in their careers but also in eXp Realty the company.”

In March, eXp announced it had launched an Agent Ownership initiative providing opportunities for agents and brokers to become significant shareholders in eXp.

“The greatest asset that any real estate brokerage possesses is the group of agents and brokers who are a part of it. In our view, those agents and brokers should be owners and beginning today at eXp Realty, they will be,” eXp Realty president Jason Gesing said during a special meeting announcing the plan.

As part of the plan, eXp will issue 100 shares of stock for a first transaction in 2014 and 1,000 to any agent who caps during the year. A thousand shares are also on the table for any agent attracting another into the company once that new agent closes a deal.

Working through the cloud, eXp provides 24/7 access to collaborative tools, training and socialization for real estate brokers and agents, reducing their overhead and increasing profits.

“Empowering each of our agents”

“With this decision, we’re really empowering each of our agents to step into the shoes of a broker owner without having to sacrifice their own commitment to excellent client service in their sales,” said Ip. 

In March, the company announced the appointment of David Gagnon to the position of director of Cloud Leadership and Growth. A team leader, consultant and director of growth with Keller Williams, Gagnon was described in an eXp Realty press release as “instrumental in helping those centres achieve profitability and growth goals and build cultures.”

“eXp Realty, in my opinion, gives the most competitive advantage to agents and offers the greatest combination of income opportunities with high splits, no royalties, a low cap, a phenomenal revenue-sharing program, and opportunities for agent ownership through stock incentives,” Gagnon said in a media release. “Agents have a unique opportunity to not only build their brand but to also share in the growth of the company, not just as an agent but as a shareholder.”

As part of its growth strategy, the company announced in February it would raise up to $100,000 through an investment from its agents, brokers and staff. Priced at 30 cents per share, the funds were earmarked for “ongoing operations as well as the deployment of certain technology initiatives inside the company” and had been described as an opportunity for participation and collaboration “in the growth of the entire enterprise.”

Heather Seftel-Kirk studied journalism at Algonquin College in Ottawa. She went on to work as a writer in the investment industry and obtained her licence to work as a registered…

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Heather Seftel-Kirk studied journalism at Algonquin College in Ottawa. She went on to work as a writer in the investment industry and obtained her licence to work as a registered…

Read more

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