ENRG Realty offers a new take on revenue sharing
The newly launched firm — the brainchild of former eXp and Real execs — tweaks the downline model and is intended to “professionalize the industry.”
- Husband-and-wife duo Peter and Erinn Nobel formally launched ENRG Realty this week after previously holding leadership roles at Real and eXp.
- Their new take on the downline is “more like a corporate recruiting model” where agents submit qualified referrals to the company.
- Putting recruiting back on the company instead of individual agents allows salespeople to focus on selling homes, the couple said.
Former executives from Real and eXp have launched a new venture: A brokerage that offers a slightly different take on the revenue share model.
Erinn Nobel, who was previously chief culture officer at The Real Brokerage and regional growth leader at eXp, along with her husband Peter Nobel, former chief strategy officer at Real and chief operating officer at eXp, have announced the formal launch of ENRG Realty.
"It's a little bit more like a corporate recruiting model where you have your employee referral program," Peter told Real Estate News. Other revenue share models can incentivize agents to spend all their time on recruiting instead of building relationships with clients, while Connect & Thrive is "a re-imagined financial model that allows agents to build revenue share without recruiting other agents," the company states.
The idea is that taking the job of recruiting away from the agent will allow sales professionals to focus on selling homes, Erinn said. "Ultimately, we're looking to professionalize the industry with this new model," she added.
"Our experience from our previous two brokerages is that the recruiting model and that revenue share model really is a distraction for agents, and it pulls away from their business of actually selling real estate," she elaborated. Agents at ENRG will simply refer "qualified agent prospects" up the chain for review.
Tweaking the recruitment process and rev share model this way also prevents agents who are essentially professional recruiters from coming over and "building a big downline within the company," Peter added.
Erinn describes ENRG as "a boutique brokerage" that offers "concierge-style services" to agents where agents can get immediate answers and help with issues. The firm is currently open for business in Washington State, Texas and Alaska, and is in the process of opening in California and Hawaii, Peter said.
The two said they predict quick growth ahead as they've adopted the best aspects of other downline and rev share models and modified them to create something new and different.
"It's a combination of our past experiences and putting together the best of the best, and creating a network of people to build around us that share our same vision and values," Erinn said.