Episode 283 – Stacey Onnen, President of Brokerage Operations, eXp Realty

The Real Estate Sessions

Episode Summary:

Meet today's guest, Stacey Onnen, President of Brokerage Operations for eXp Realty which launched in 2009, as she discusses eXp Realty and their strategies as a successful Real Estate organization.

In this episode, I sit with Stacey, born and raised in Kansas City, across both the Kansas and Missouri sides. She shares her experience learning the business in the Prescott area and Chino Valley area of Arizona.

Top Takeaways:

"I always tell every Real Estate agent who's struggling that if you have yet to realize that it is J.O.B, you are doing something very wrong."

- [Stacey Onnen]

"If you're not seriously keeping a database from day one, please do it because if I could think of my biggest mistake, it was that I did not log every single item from the beginning nor keep in touch with my clients often enough."

- [Stacey Onnen]

Episode Highlights:

[00:24] Intro

[03:03] Where did you grow up, and how did you settle in the Prescott area?

[06:10] Stacey discusses her initial plans to study Accountancy.

[07:30] Opening her brokerage

[14:43] How Stacey started with eXp Realty.

[19:12] Stacey narrates events surrounding her relocation to Puerto Rico.

[20:50] What does a typical day look like for you at your work?

[23:53] The strength behind eXp; Revenue share over Profit share.

[28:15] Following the pandemic, how do things look going forward?

[31:00] Stacey's advice to new agents

[32:01] How to contact Stacey

[32:33] Outro

Episode Notes:

Stacey shares that she moved to Chino Valley of Arizona at 13yrs old, attended college and then moved to Prescott afterward, where she started her Real Estate career. She describes her experience in the Prescott area as the best that it could have been for a new agent.

Stacey was studying Accountancy but never finished, although she could do the books for a few companies. Explaining that she had no real particular reason for starting Real Estate, she had the typical misapprehension of being unsure of her abilities as an agent. She worked both Real Estate and Accounting till she finally decided to focus on Real Estate. Stacey opened her brokerage at the age of 30.

Following a car accident, she had stayed engaged by moving more into the operations aspect while stepping back from brokering. This built her up in that aspect and set her up for today's position as President of Brokerage Operations for eXp Realty. Stacey and her husband had never planned to settle in Arizona permanently, and with the opening of a new eXp branch in Puerto Rico, combined with her love for the water, they relocated there.

Glenn Sanford, the founder of eXp Realty, has over time preferred revenue share to profit share, and this has been the strength behind eXp Realty. Revenue share has been made possible by having agents who have a vested interest in the company because they own stock. It encourages agents to help each other. Also, there is a reduction in the overhead cost of running the company since eXp runs their staffing for the entire country, and fewer admin staff are needed to cover more ground.

Since the company had previously shifted a lot of its operations into virtual communication platforms before the pandemic, they could continue to serve clients in the usual way. Stacey shares that the business boomed during the pandemic.

For new agents: If you're not seriously keeping a database from day one, please do it because my biggest mistake was that I did not log every single item in the database from the beginning or keep in touch with clients often enough. Learn as much as you can. Treat Real Estate as a business, know your books, know your numbers, and it will change your life.

Resources Mentioned:

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Find | Stacey Onnen

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