Just a quick post regarding the nature of how agents are able to expand their reach with interstate expansion teams and a new term that is emerging, “interjurisdictional” meaning agents being able to expand their reach beyond geography.
“Agents are building their own brokerage networks without geography,” Cofano said.
Cofano is currently the chief operating and strategy officer for title company NexTitle, and in the past served as the president and general counsel of eXp. (quote from Inman)
“At the end of the day, successful team leaders want to focus on real estate,” Tamir Poleg, CEO of virtual brokerage Real told Inman. “They want to focus on building other agents around them and creating a really successful business, and doing what they enjoy doing. But as a broker, you have to deal with accounting and HR and other things — which most agents don’t want to deal with.” (quote from Inman)
A recent convert to eXp Realty put it this way:
“In the next stage of my business, I want to be able to help other agents in other markets,” Lahey explained. “But looking at some options, I’d have to buy another franchise. EXp didn’t have all those limitations. I didn’t have to buy an eXp franchise.” (Inman)
The centralization of support and benefits are coming to the market more and more. Agents and consumers now have more choices in the way that they interface with technology and their sales team. Further, agents will start to focus their reliance on their team rather than a legacy broker.