eXp Realty agents now have access to additional sources of potential revenue by building their referral pipeline through eXp’s burgeoning Relocation, REO, and Affinity businesses.
eXp Relocation and eXp REO (Real Estate Owned properties) are two referral generation programs that eXp Realty offers to its agents. In addition to ExpressOffers and the Making It Rain programs, eXp’s new eXp Affinity division offers employee or membership benefit programs to individuals moving outside of a job-related move. All of these businesses capture quality referrals for eXp Realty agents through established industry relationships with top relocation management companies, banks, hedge funds, corporations, organizations and iBuyers.
“With eXp’s Relocation department, the major difference is they act as a real go-between the agents and the corporate client or relocation company. (eXp) is there to make sure we look good and get all the stuff right. That we’re providing the reports and it goes through them and they review it and provide feedback before it goes onto that relocation company.
But the best part about it is the people and the collaboration and the spirit of cooperation within the company is unlike anything else I’ve ever seen,” said eXp Realty’s Chad Beasley, an ICON agent and certified mentor based in Chelsea, Alabama.
Benefits of Becoming Certified in eXp Relocation and eXp REO Businesses
eXp Realty agents can diversify their business and add another potential revenue stream by becoming certified in the eXp Relocation and eXp REO programs. New Affinity certification training will be launched live at EXPCON 2022 in October. With these certifications, agents can have access to:
- A referral network built through eXp’s relationships with Relocation, REO and Affinity businesses.
- Being the exclusive real estate service provider for Bundle Select’s audience of 250+ companies and their 6.3+ million employees
- 24/7 support from our team of experts
“To be able to work with Relo and REO is a big deal because you get listings,” said Matthew Stewart, an eXp Realty agent located in Sacramento, California. “If you just get one leg as your primary stream of leads and lead generation business, that can go away at any time. It should be like a three-legged stool, or maybe four-legged. You’ll have your expireds or your farming, but another strong leg would be your REO or Relo. And that is typically a very strong and solid stream of business that comes in.”
How Big Are the Relocation and REO Opportunities in the U.S.?
To understand the depth of the referral pipeline for these programs, here are some quick facts:
Facts About the Relocation Business:
- 27.1 million people per year relocate in the U.S. [Source: Move.com]
- 21% of moves per year are job-related [Source: JCHS]
- $14 billion relocation industry market value [Source: IBISWorld]
Facts About the REO Business [Source: ATTOMdata]:
- 185% year-over-year increase of property foreclosure filings in the U.S.
- 117% year-over-year increase of repossessed properties by lenders in the U.S.
- 1 in 4,549 housing units had a foreclosure filing in May 2022
How to Become Certified in eXp Relocation, eXp REO and eXp Affinity Services
Each program offers separate and specific training to become certified. Once certified in eXp REO, eXp Realty agents qualify to be assigned to manage and list bank-owned (REO) properties. Once certified in eXp Relocation services, eXp agents qualify to be matched to assist corporate relocation clients.
Training to become certified in each of these programs takes place in eXp World. Each training takes 12 hours to complete and is done in four, 3-hour modules, taught by experts in the field. Training for each program is offered every month, so there is always a cycle to jump into.
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