If you are an estate agent in the UK looking to start your own estate agency then you came to the right place. Starting an estate agency can take a lot of hard work and a lot of expenses. The effort and costs needed to start an estate agency in the UK is no laughing matter and many estate agents underestimate the risk of failure especially in their first year in business.
That is why we are here to educate you on a new way to start an estate agency in the UK…a better way. With eXp UK.
Now you might have already heard the name eXp UK before but do you really know how an estate agent can essentially start their own agency with minimal start up costs, zero risk, and almost no liability?
If you don’t I suggest you stick around and find out… because in this post we will be going over how partnering with eXp UK is the best way to start an estate agency in the UK.
Table of Contents
Minimal Start Up Costs
Now the first and absolute most important aspect of starting an estate agency with eXp UK is the guaranteed minimal start up costs required to get your business up and running.
Before we get into the specific details I just want to share with you how eXp UK has allowed estate agents in the UK and around the world in over 7 different countries to run their own business with roughly 1/5 of the average cost to run a traditional estate agency business.
eXp UK is a cloud based estate agency that allows estate agents to run their own business. What that means is that instead of having to purchase or rent an office, estate agents are able to work from their own homes or from FREE shared office spaces to cut down costs and increase comfort.
An article written on startup.co.uk recently stated that the “most expensive aspect of starting an estate agency is finding the office space”. eXp UK removes that cost entirely for estate agency through the new revolutionary platform eXp World, which I will discuss in detail later on in the post.
Now let’s look at the cost of starting an estate agency with eXp UK
Cost of eXp UK
For starters, eXp UK charges an initial start up fee of £275 to cover the initial set up of your accounts to access your marketing, branding, website, eXp World, shared office space, and more.
After the first month there will be a monthly £150 cloud tech, training, and call centre service fee to keep your business running smoothly online and provide you and your estate agents with the best training system in the world.
Now that we’ve gotten the fixed costs out of the way, let’s go over the variable sales commission splits that you would pay to the company from your commission income.
As an estate agency owner at eXp UK you split your sales and letting commission income with the company 70/30. This means that you get to keep 70% of your commission income from your sales and letting activity and pay 30% to eXp UK.
But that at eXp UK you can earn up to 100% of your commission income as an estate agency owner simply by making enough sales to reach the company’s cap of £24,000. For each year that you pay £24,000 into eXp UK in splits (30% of £80,000 in total commission income) you get to earn 100% of your commission in sales for the rest of the year!
Here is a graphic that depicts the fee schedule in detail
Earnings example
Below are two examples of how much income you can potentially earn from making 3 sales a month at £2,000 and 4 sales a month at £2,500.
As you can see, the income you earn at eXp UK are far greater than that of starting a traditional estate agency.
Become an Owner of eXp UK Immediately
On top of the decreased cost of starting an estate agency at eXp UK you can actually become an owner of the company through eXp UK’s stock share program for our estate agents!
Since EXP World Holdings LLC is a publicly traded company listed on the NASDAQ stock exchange (EXPI) estate agents have the opportunity to literally own a part of the company in as little as one month of becoming an active estate agent with eXp UK.
How to Own a Piece of eXp UK
Now there are different ways to become an owner of eXp as an estate agent. But the easiest way to do so is by simply completing your first sales transaction each year as an estate agent with eXp UK!
By simply completing your first transaction each year with the company you can earn over £140 worth of EXPI stock!
Other ways estate agents can earn stock awards at eXp are by reaching their cap of £24,000 every year, enrolling in the stock equity program, or by building your revenue share organization, which is the built in team building system for estate agents to grow their own team.
Here is a breakdown of all the different ways you can become an owner of EXP World Holdings as an estate agency owner:
Revenue Share
Along with minimal costs and equity opportunities to start your own estate agency, eXp UK also has a in house built in compensation system for estate agents to build their very own team for their estate agency.
This model allows estate agents to enlist help from other estate agents without having to pay salaries, review contracts, provide tech support, provide office space, or even provide any new training! That is because the company compensates the estate agents through sharing the revenue earned from the 30% split commissions paid to eXp.
Once you enlist, or sponsor, another agent under your organization to eXp UK, the company will pay you 3.5% of their gross commission income up until the estate agent you sponsor reaches their cap.
Now that may seem like a very small split considering that you can only earn up to £2,800 for each agents you personally sponsor but that is not where revenue share stops at eXp.
On top of earning revenue share from the agents you directly sponsor, you also earn revenue share from the agents that your sponsored agents decide to sponsor as well.
For example if you sponsor one agent to the company and they earn enough commissions to cap you earn £2,800. But if the agent you sponsor also decides to sponsor another agent to the company you can earn up to £3,200 from the revenue share from their sales activities. That’s a total of £6,000 that you can earn from revenue share each year just by growing the company by two estate agents.
Now this goes on for 7 different tiers but since you can directly sponsor as many agents as you wish from ANY LOCATION IN THE WORLD THAT EXP IS ACTIVE, the possibilities are limitless.
eXp World and Software
I mentioned earlier that eXp World is the single most revolutionary tool in estate agency. That is because it can save you massive amounts of time and costs from starting your own estate agency.
Think of the movie Avatar, an avatar character that represents yourself gets to walk, talk, and do business in a cloud environment that you can access from your own home or anywhere else in the world with just a basic computer and access to Wifi.
You can literally get in touch with and do business with staff members, the support team, your agent team, corporate leaders, and agent partners from around the globe from the comfort of your own home – anytime!
Think of the time you can save not having to physically commute to the office from your home just to get a simple contract or technology bug fixed in your estate agency business. Now think of the money you can make reinvesting that time back into growing your estate agency and focusing your energy on marketing and sales.
I believe that a simple explanation does not do this revolutionary platform the justice that it deserves. So if starting a cloud based estate agency from your own home sounds like something you would like to do. Click below for a private tour of eXp World!
Estate Agency Software
The last point I want to touch on in this post is the estate agency software that you will have access to by becoming a partner at eXp UK.
With the most technologically advanced estate agency platform in the world you can expect nothing less than the most advanced estate agency crm, prospecting, and lead generation software in the world.
As an estate agency partner at eXp UK you get access to a state of the art lead generation website and platform that matches buyers to properties pulling in data of properties for sale in your area from other agents.
On top of that you can also submit and run your own direct mail/touting campaigns to generate leads for property owners or run Facebook advertising campaigns with over 170 content ideas provided to you!
On the backend of your estate agency software you are given an auto responsive CRM system that connects to your website to track your sales progression with clients and customers.
The back end CRM provides estate agents with:
- automatic updates for your website
- appraisals
- diary
- viewings and offer tracker
- sales progression tracker
- auto prospecting/touting
- uploads to rightmove and zoopla
Now with this kind of technology and value it will cost eXp to provide these platforms to each estate agent. That is why for the complete CRM and lead generation software and platform it costs £90 a month. But that is just a small investment for massive value.
What are you Waiting for? Start your estate agency Now!
Now that you know all of the value that eXp UK provides to estate agents what are you waiting for to start your own estate agency with us now?
The best part about this business model is that you can partner with anyone in the World as long as eXp has a presence! So don’t wait any longer and ask us about how you can take advantage of this opportunity before it is too late!
Learn More About eXp Realty & Our Free Partnership Team!
If you are interested in joining the best brokerage for agent growth, compensation, and opportunity in the world, be sure to partner with the best sponsorship team in the world as well! We provide additional training, tools, coaching, partners, collaboration, masterminds, and resources for your success!
We believe in massive growth and financial freedom for all real estate agents! Live your dream real estate lifestyle with us.
For more eXp Realty details, check out our comprehensive About eXp Realty – Everything You Need to Know article.