The Virtual Real Estate Brokerage and Office - WEB 3.0

By
Education & Training with Director of Education & Industry Outreach at eXp Realty & RE Tech Campus
http://actvra.in/4Cm2

The Virtual Real Estate Brokerage and Office of the Future Today! - WEB 3.0

What does the future Real Estate Brokerage and Office really look like?  If you decide to read on, it may change your perception of what the "Virtual Real Estate World" could look like in the future.  While Secondlife is the Internets largest user-created, 3D virtual world community, and used primarily for Social Networking, eXp Realty has taken this same concept, and created a Business Model where the Real Estate Brokerage and Office is 100% Virtual.  They are using the invisible walls of the Internet as their "Brick and Morter" office.

Their Business Model is defined as "The Worlds First Fully Immersive WEB 3.0. Real Estate Brokerage."

Last month, while at REBarCamp in San Diego, I got to meet and spend some time with Dale Kreiser, eXp REalty's Washington State Broker.  He shared what their company was doing, and how well it was working for them.  When I returned to the office, I did some research on their company and their site.  I was "Blown Away" at what Glenn Sanford - Founder and CEO and their team have created!  Could this really be the Real Estate Office and Business Model of the Future for Brokerages and even the smaller Mom & Pop offices?

Here's a video clip from a discussion held at that REBarCamp in San Diego.  The topic?  What does the Real Estate Brokerage of the future look like?  It's an interesting discussion with Tom Ferry, Stefan Swanepoel, Wendy Forsythe, Sherry Chris, Dale Kreiser and others.  What is the "New" strategy or tactic?  Here's a hint of what you're about to see; The future is HERE now!

I've a strong suspicion that these guys may be onto something here...

     

So I called Dale and asked him for a "Virtual Tour" of their "Virtual Office."  He and Glenn agreed to let me share that tour with you via this recorded video.  For me personally, this was really the next best thing to actually being there.  I felt like I was there.  Now anyone that knows me well, also knows that I love all the new technology that is being introduced to our Industry, but I am also a practical person and want to be certain that this stuff really works.  Don't just tell me it does....SHOW ME!!

This video is a bit longer than I wanted, but I edited out over 40 minutes of some really great stuff I wish I could have shared with you all, maybe another time. I would encourage you to watch the entire thing, I'd hate for you to miss any of this one. Sit back in that comfy chair of yours, relax, and enjoy this first ever virtual office tour...

Is this the way some Real Estate Company's and Brokerages will operate in the future?  Yes, here's one already.  Are these guys way ahead of their time?  Maybe, but after today's tour, I realized that just talking with them about it, and then visiting their website was no comparison and nothing like "virtually being there!"  I had no clue how well this was all put together.  It was nothing short of interesting, fascinating, and awesome!

The Virtual Real Estate Brokerage and Office - WEB 3.0  So tell me what you're thinking at this moment...

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Re-Blogged 15 times:

Re-Blogged By Re-Blogged At
  1. Fernando Herboso - Broker for Maxus Realty Group 12/11/2009 10:36 PM
  2. Bill Foxworthy, Jill Turner 12/12/2009 12:25 AM
  3. Lori Ballen 12/12/2009 01:32 AM
  4. Christopher Johnston 12/12/2009 01:38 AM
  5. DEBORAH STONE 12/12/2009 04:24 AM
  6. Michael Cantwell 12/12/2009 10:43 AM
  7. Pam Hockensmith 12/12/2009 06:14 PM
  8. Phil Graves 12/13/2009 01:43 AM
  9. Dale Kreiser 12/13/2009 05:56 AM
  10. Hannah Williams 12/13/2009 12:21 PM
  11. Karina Kfuri 12/14/2009 03:32 AM
  12. Liz Whittingham 12/14/2009 08:55 AM
  13. Shana Haugen 12/16/2009 04:08 AM
  14. Jason Donn 01/18/2010 02:14 AM
  15. Chris Lefebvre 11/10/2010 11:32 AM
Topic:
Real Estate Sales and Marketing
Location:
Washington
Groups:
Realtors®
The Art Of Marketing You
Out Of The Box!
Real Estate Technology
Almost Anything Goes
Tags:
real estate technology
web 30
virtual real estate office
virtual real estate brokerage

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Rainmaker
324,841
Jill Watts
Realty Pro, Inc. - Vancouver, WA
Real Estate Agent for Clark County WA

I'm always learning from ya, Brad. Thanks! I have never had a REAL office and I learn from the wider world of Active Rain!

Dec 13, 2009 05:57 PM #147
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Brad Andersohn
Director of Education & Industry Outreach at eXp Realty & RE Tech Campus - Fairfield, CA
ActiveBrad 707.646.1876

Hey Everyone - I've had to disable the comments on this post due to the incredible amount of responses received.  To continue reading other comments or add additional comments, ideas, and thoughts to this topic, please click below to be redirected to the "Comment Extension" for this post.

Thank you.

ActiveBrad :-)

COMMENT CONTINUATION HERE

Dec 13, 2009 06:09 PM #148
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Brad Andersohn
Director of Education & Industry Outreach at eXp Realty & RE Tech Campus - Fairfield, CA
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Since the comments on AR have been currently increased to around 200,
I have re-enabled them for this post. Please feel free to comment once again.

Jan 09, 2010 03:49 AM #149
Rainer
21,703
Kevin Cottrell
Austin Real Estate Today - Austin, TX

Brad, if only agents could survive and thrive in a purely self-service virtual environment the business would be a very different place for real estate brokers and agents.  That said, the best shops provide intense coaching, training and tools and ensure through accountability that agents are not out of balance with technology and so poor on real world sales schools that they fail when a prospect shows up.

Jan 19, 2010 10:50 AM #150
Rainmaker
211,543
Mike Jackson
Bradley Real Estate - San Rafael, CA
Realtor - Certified Distressed Property Expert

This appears to be the way of the future. That was an informative video Brad thanks for sharing.

Mar 07, 2010 09:11 AM #151
Rainer
3,723
Brandon Rodriguez
Brandon Michael & Associates, a subsidiary of Bindes Investment Corporation - Dallas, TX

I wanted to respond to this blog.  On September 2009 the National Association of REALTORS, Center For REALTOR Technology awarded me with the Pioneer Spotlight Award.  I am currently the only one in the United States to hold this honor.  http://blog.realtors.org/crt/?s=Brandon+Rodriguez I pride myself with the 100% Virtual Office Model.  By far and without a doubt, eXp Realty has taken it to a new level!  My first reaction like many others, what will this cost to the agent.  The splits eXp is far better than the franchise companies and even some independent brokerage out there.  They have even found a way to offer more compensation to agents than the 100% commission companies.  Plus not to mention the technology which works together.  It is true a person can utilize other independent applications, but that will cost you a pretty penny.  Don't forget in order to have effective technology they must be able to work together, and as a Broker can you ensure your agents will use them too?  As an Independent Broker with a national technology award on hand I was curious about eXp.  Their philosophy was the same as mine in technology and compensating the agents over the competition.  As far as office space in a large Metro area like Dallas, is not needed.  The business model eXp provides for their agents combined with technology at their fingertips working all together is hands down better than any thing currently on the market for agents.  They were so good that I decided to close BrandonMichael & Associates and team up with eXp Realty as their Principal Broker in Texas.  I followed the old saying "if you can't beat them, join them."  It was not a decision I took lightly but it was the smartest business decision I made.

Jun 21, 2010 02:42 PM #152
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Brad Andersohn
Director of Education & Industry Outreach at eXp Realty & RE Tech Campus - Fairfield, CA
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Brandon - thanks for sharing that.  I hope to interview eXp again at ActiveRain University to see how far they have come along since this post. It will be a great class.  Sharing this technology and the new ways it's affecting business and consumers is more than just interesting, it really is the future.  Watch the ARU training calendar for a guest presentation by some of the folks over at eXp, it will be awesome. :-))

Jun 21, 2010 05:42 PM #153
Rainer
14,605
Jerry Germansen
eXp Realty Arizona - Prescott, AZ
Associate Broker eXp Realty AZ

I joined eXp Realty in pril 2010. Some of the comments need to be addressed. We have a fantastic interaction among the agents and all the way to the CEO. We just do it in Teleplace and can access each other much easier than an in person meeting. I never feel alone whether working from home or from an office location.

Our split is very transparent. Just come to a presentation and see for yourself. Everyone is in the same split. Wehave other streams of income that can be tapped to increase your income.

Our training is free and available live in Teleplace or in archived sessions. Hundreds of topics are discussed.

We have excellent access to tech consultants who work full time for eXp. They are the top tech advisors in the business and will do whatever it takes to bring new agents up to speed and further the agents' technology skills as new avenues of internet business become available.

eXp has been a breath of fresh air from the franchise I previously owned. eXp's founder comes from the internet marketing business rather then the real estate industry. We all know the real estate business. How many agents are capable of working in the realm if the internet where most buyers? eXp will take you there.

The focus of eXp is on generating internet buyer leads. What about sellers?  Every seller needs a buyer. When you can tap into the buyer you provide the best marketing for your sellers. That is really providing great service to the public.

The train has left the station. It's time to get onboard!

Jerry Germansen, Associate Broker, North central Arizona

Jun 24, 2010 04:23 AM #154
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Brad Andersohn
Director of Education & Industry Outreach at eXp Realty & RE Tech Campus - Fairfield, CA
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Jerry - are you on a roll or what???  lol~  This post was to share the technology and what a virtual office can and does look like, it's NOT a campaign for recruiting. (Big Smile)  EXP is the ONLY RE Brokerage I have seen that has used this technology and is effectively doing business this way.  No physical buildings, ALL virtual and that is what impressed me most. 

Thanks for piping in on this post, ALL comments are appreciated, as is your excitement and enthusiasm. Thanks. :-)

Jun 24, 2010 04:35 AM #155
Rainmaker
45,588
Carol West
Carol West Real Estate, LLC - Hillsboro, OR
Real Estate Agent, Hillsboro, Beaverton, Portland

Thanks for this new informative posting of what we should be thinking about. 

Jul 10, 2010 07:14 AM #156
Rainmaker
19,395
Sharon Yeary
Sharcom Realty - Southlake, TX

I have been running a "Virtual Real Estate" Company for the past 5 years.  I did finally have to rent an office because clients were always wanting to know where our office was.  If we said we worked "Virtually" or at Home....we were looked on as a fly by night company.  Now we rented an executive type suite office with VERY low rent so we can say we have an office and meet clients there.  I am really interested in this technology....Is it through a software program (if so where do I buy) or is it something I would need to program myself?  Great Post!

Jul 10, 2010 06:24 PM #157
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Jon Zolsky, Daytona Beach, FL
Daytona Condo Realty, 386-405-4408 - Daytona Beach, FL
Buy Daytona condos for heavenly good prices

Brad, you always bring something fascinating and it is usually something that needs to be bookmarked and then addressed again.

this time it is no diffference.

Listen, something is wrong with the video. The link is not there, just an empty box

Nov 10, 2010 12:23 PM #159
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Brad Andersohn
Director of Education & Industry Outreach at eXp Realty & RE Tech Campus - Fairfield, CA
ActiveBrad 707.646.1876

Jon - thanks for commenting, the video is working ok for me, what browser are you using?  Try it again and let me know if you're still having any issues. Thanks.

Sharon - sorry for the late response, I never got an email notification of your comment.  The software they use in this example is something that is provided to this particular broker and office.  You could contact them to get more details.

Nov 11, 2010 08:35 AM #160
Rainer
145,334
Herman Herrera
HERMAN & CO REAL ESTATE - Staten Island, NY

Interesting concept.  I'm not exactly sure what else is being offered other than a cool 3D interface.  I skype with many of my agents (since many of them work from home) for training sessions.    

Many people in the community still like to see the physical presence of a brick and mortar office.  Clients always ask me where my office is located.  And what about synergy?  I know I still get motivated when even a few of my agents stop into the office and make calls.  

I love this idea as an add on to an existing office but I'm not sure if the world is ready for this...yet.

May 02, 2012 04:53 AM #161
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Brad Andersohn
Director of Education & Industry Outreach at eXp Realty & RE Tech Campus - Fairfield, CA
ActiveBrad 707.646.1876

Herman - thanks for stopping by. There is much more than meets the eye. This company offers way more than jst a cool 3d interface. Glenn Sanford and Brian Culhane along with Dale Kreiser and others have taken this concept and company to extreme heights.

They have buildingless brokerages now all over the country, possibly in all 50 states since this post was written. Dig a little deeper and I think you'll be pretty amazed at what they are doing, the sales and transactions they're generating, the new franchisies they're opening, and their new 3d photo processing for properties on the web.

It really is more than just an interesting concept, or a facsinating idea, it's an AWESOME technological advance for real estate and the industry.

May 03, 2012 01:15 AM #162
Rainer
21,517
Jerry Hill
Hill Realty - Bryant, AR

This is really an interesting concept.  As someone else mentioned, I would like to know what is included in the total package.  I think the graphics can be improved so it could reflect more of a real office look.  Let's face it, having a large office with 50 miniture desks, is not what I call promoting a professional image for a Realtor or a Real Estate Brokerage.  Most agents have a home office or at least have the ability to conduct business 24-7 from home so why not let them work with what they already have.  The tools are already there to conduct business on-line.  Why should agents pay for desks or the use of office equipment they don't really need? 

Nov 21, 2012 02:05 AM #163
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Brad Andersohn
Director of Education & Industry Outreach at eXp Realty & RE Tech Campus - Fairfield, CA
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Jerry - this post is almost 3 years old and those that felt it would never work or doubtful were absolutely wrong. Glenn Sanford has built a virtual empire with EXP Realty.  You should contact him directly for an update on their success. He will have all the info and answer to any questions that ANY agent may have regarding the "Virtual Real Estate Office." Thanks for reading and commenting.  :-)

Nov 21, 2012 05:06 AM #164
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Brad Andersohn
Director of Education & Industry Outreach at eXp Realty & RE Tech Campus - Fairfield, CA
ActiveBrad 707.646.1876

One thing I'm really proud of is that I had enough instinct and intuition to post this about the future brokerage of America just shortly after the eXp Realty launch. This was back in December of 2009, and look at the company today!

 
I couldn't be more excited about where we are, where we've come from, and most importantly... where we are going!!!

Here's why the Company is now one of the fastest growing brokerages in the Country with the #1 recruiter in the Nation, Gene Frederick.

"Why Agents Are Joining eXp Realty International"

Oct 11, 2015 02:01 AM #165
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Brad Andersohn
Director of Education & Industry Outreach at eXp Realty & RE Tech Campus - Fairfield, CA
ActiveBrad 707.646.1876

If you listen to the Sherry Chris "talk" at Inman back in 2009, she clearly expresses her expert opinion and explains what the next generation real estate brokerage looks like which is what eXp Realty is today.  

Take a listen: https://www.youtube.com/watch_popup?v=CebeDMJy45Q

Oct 11, 2015 03:03 AM #166
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Brad Andersohn
Director of Education & Industry Outreach at eXp Realty & RE Tech Campus - Fairfield, CA
ActiveBrad 707.646.1876

I'm happy to share that eXp Realty, the agent owned cloud brokerage that allowed me this exclusive interview and tour back in 2009 is STILL going today and stronger, faster and bigger than ever before.

Just Look at the stock, look at the model, do your due diligence and we'll see you in the cloud!!

May 14, 2016 06:15 AM #167
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