eXp UK launches brokerage model for ‘traditional agents’

Self-employed agency brand eXp has launched a brokerage model for the UK market.

Such a system is already common in the US where so-called ‘bricks & mortar’  estate agency businesses - known as brokerages - work in partnership with larger ‘platform’ type estate agency brands - for instance eXp Realty.

The idea is that traditional high street estate agencies with an employed workforce become an eXp partner business.

Firms will be able to transform their valuers and listers into self-employed agents in association with the eXp brand, whilst also keeping their existing branding

Adam Day, UK expansion leader at eXp, said: “Britain’s estate agency sector is evolving and adapting. Not just in technology and with new business models gaining traction but also in recognition of a return to more normal levels of house price growth and transaction numbers. 

“Agency P&Ls are tighter these days and understandably, colleagues will be looking at ways of improving revenues whilst also mitigating overheads. 

“The supported self-employed business model is growing strongly and I’m proud to be leading the way with eXp at the forefront of that growth. Traditional agents might be surprised at the improvement to their economics that can result from the new ‘brokerage’ partner model that we’re introducing, as well as benefits to their culture and their competitiveness.

“Our new brokerage partner model provides all the benefits of being a corporate business, without the downsides of being a corporate business.”