On Deciding to Give eXp a Run with Rich Tomasini

On Deciding to Give eXp a Run with Rich Tomasini

Rich Tomasini was exposed to residential real estate around a family appraisal business. These experiences provided him a solid foundation on which to build a successful real estate sales career. He excelled as a realtor, developing and fostering a dynamic team, who in a decade, grew to produce over half a billion dollars in annual sales volume. 

Yearning for more opportunities and challenges, he joined an innovative cloud-based real estate venture allowing me to leverage my career knowledge. Using his sales skills and savvy developed educational presentations, and innovative realtor training videos, to grow his team of three, into a domestic and international powerhouse team of more than 800 associated agents, in multiple states and countries.

 

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On Deciding to Give eXp a Run with Rich Tomasini

 

Brett:

So this episode is going to be for the real estate agent for the real estate broker. For anyone who’s looking to gain some potential freedom from the day-to-day transaction, the treadmill is talking about exiting the real estate agent treadmill with eXp as the model as the business and as the exit plan. Please welcome to the show with me, RichTommasini. Rich, how are you, sir?

Rich:

I am. Well, thank you so much for having me.

Brett:

Absolutely. It was a pleasure to have you on the show. And for our listeners getting to know you for the first time, would you give us a little bit more about your story and your current focus?

Rich:

My current focus is recreation. My past has been all work. So both sides of the spectrum, I was a real estate appraiser for eight years, back from 2019 99 till about 2006, just under eight years, and then I moved to North Carolina from South Florida and became an agent with Remax and over the course of 2000. And I think December 2006, is when I got licensed until 2017, I sold a little over half a billion dollars in real estate here in Lake Norman 30 minutes north of Charlotte 2017, I moved over to eXp realty to leverage and build a team that would be virtual and is able to scale and compound and not be confined by geography or antiquated systems. And I have now an organization that I’ve been able to assemble that is about 1600 agents, we add about 130 agents a month. And it’s a residual income model. So anything that I do for our group is supplemental, but it’s not all relied upon my personal support. And I spent time with my two little boys and my wife, just to sum it up.

Brett:

Phenomenal. Yeah, you live in the dream brother, man and so appreciate the opportunity to dive in on your story, taking some time to share this story with us. Before we dive into those particular things about you know, life before eXp and life after and kind of, you know what, what you were able to do to help build that real estate business. You know, I believe we’ve all been given certain gifts Rich, and these gifts have been given to us to be a blessing and help to others. So want you to go back maybe to your high school days, maybe your college days, and want to identify maybe one or two gifts or strengths. Some people call them superpowers. I believe their God-given gifts are given to us to be a blessing and help to others, some are curious, Rich, what are the one or two gifts that you believe you are given? And how does that help how you help and bless people today?

Rich:

It’s a good question. I don’t ever think about myself as someone who has superpowers or these proclivities to being great at anything specifically, maybe I’m a bit more of a relationship person, where relationships are more about quality over quantity, so I spend a bit more time on them, which is served me well in a service business, like selling real estate where I really looked after my clients with a lot of loyalty and consultation platform. And then as far as I think overall, in high school and in college, my inability to play within the box sort of caused me no other option but to be self-employed. And being an entrepreneur and having the ability to work fluidly within my own rules, or to my own beat has been very attractive. I’ve been self-employed my whole life before I’ll be 44 in July. So anyway, I guess you know, by misbehaving taught me that I should work for myself and by focusing on the value that people offer each other has been good for being a listing agent and then has translated very well toward being in the eXp revenue share. portion. So very relationship-oriented system.

Brett:

Absolutely love that. So the gifts of relationship-building quality over quantity, building your business, and your life and relationships with loyalty and consultation. And then I love this bar. This is my favorite inability to play within the box, right? That’s, you know, most entrepreneurial journeys right at some point in their life, right? I was the kid in high school, the teacher says, I wasn’t the favorite kid, right, I was the kid who’s looking for ways to get the A or the B, and the least amount of energy and time possible unless it was something that I love. Like, if it was history, or math like I loved about certain subjects, I’m just like, kind of loathe it right. And looking back, the box was you want, you got to get straight A’s and all these things and get, even the LSAT scores and all that stuff, and I’m going man, I just didn’t have the passion for certain subjects. But then I found real estate, I had a passion for that. Right, then I found ways to Defer Tax and help people solve problems, have a passion for that. So I think we’re in the business race or not actually even selling real estate, or even selling a model of eXp, or for us selling what’s called the Deferred Sales Trust, we’re actually in the business of solving problems, right. And so talk to us about how your consultation approach and your building relationships, and even how you’ve helped other agents solve problems in their life has helped you grow your business.

Rich:

I think the first part of that is identifying what the problems are, most of us can, can scratch this out on a piece of paper in about 10 seconds, right? You became self-employed to be a real estate agent to have time and flexibility in what you have neither you got into being self-employed to be able to have no limit on your ceiling, but your lack of business education and leadership skills, certainly puts a ceiling on your income, because what you don’t know boxes you in pretty tight. There’s a lot of pitfalls in selling real estate. And I think one thing that our model at eXp does is it solves problems, from the actual issue, not the symptoms. And what I overlay on top of that is I am very good at worrying about other people, I mean, probably not the best quality for myself, but I want people to succeed. And I don’t ask for my agents to do things that they don’t want to do, I’m pretty good at finding out their bandwidth or their tolerances in certain avenues, and we work on one or two things. So you know, when it came down to clients, I was pretty good at assessing a game plan, setting expectations, competently guiding them through that process, and having some fun while we’re doing it. And as that transitioned into being an entrepreneur, not a technician, I don’t think that the algorithm or the recipe is all that different. People want to trust you, you have to be trustworthy, I think that you have to be accessible and come through, and you have to want what’s best for them, and push them just a little further than what might be comfortable for either of you. And I think that when you have enough relationship points that you guys are, are solid in the relationship, you can stretch it a little further. And I think that’s where all the fun is, you know, for both parties.

Brett:

So much wisdom there. And I think one of your gifts is in the relationship part to get a little bit more on dive on that is the EQ, right? The emotional intelligence and the ability said to ID the next, biggest challenge or the next biggest thing for someone to overcome, and then really just kind of encourage them sending a game plan and being like. You can do this right, I’ll help you get there. Whether that be for your client on the on your selling, or that’d be for your real estate team. Is that a fair summary Rich?

Rich:

Yeah, 100%. I think frankly, the way that you do your life personally and professionally, is either going to be attractive to the majority of people or the minority of people. And if it’s the minority, know your audience and go after them. And if it’s for the majority of people, if you’re well-liked, and you’re honest, you can do really well in real estate, and learn the rest as you go. The problem is, is that most people aren’t self-aware to know that they don’t fall into that category. So and nobody else wants to dwell on that. That’s a that’s a burden. So we have a lot of people that are in this business that chase dollars that don’t care about people or that are lazy or looking for a boss or playing the victim card. And, you know, just basic things that we suffer from as human beings, and in this business. It’s not very forgiving to those. So I essentially if you’re doing life with honor and facing problems, you know, straight ahead, and being honest, where you don’t know the answers. I think you do very well, pretty much anywhere. It’s not a complicated process, although it is an unusual set of skills that people seem to have these days from time to time.

Brett:

Yeah, absolutely. Very well. So now let’s dive into the eXp part of it. Okay, and really kind of dissect this for those who are either listening for the first time or the agents that are on the fence, or those agents that you know, are still I call believers versus nonbelievers in full disclosure. I’m a believer, I’m a part of eXp I started at Marcus And Millichap in 2006, commercial real estate broker to the core multifamily. And then I dismissed it five years ago because I didn’t underwrite the model. And I didn’t actually meet with the leadership, right? I just kind of heard about it. But now once I underwrote the model, and looked at this, it’s, it’s transformational in a lot of ways. And I want to really dive into a part of things. But you said something was really interesting. You said eXp creates either an environment or a foundation that helps to fundamentally solve the actual issues that agents are facing. Not just the symptom. So can you dive into that a little bit more, and then we’ll dive into your eXp story?

Rich:

Yeah, 100%. So it’s pretty much the symptom of real estate is that I need a closing coordinator. I need buyer’s agents, you know, I need better time management. And the fact of the matter is that this is a treadmill, you can’t get off, right, you’re making too much money. If you’re successful at this to ever get off it, you end up rewarding yourself with a nicer house and fancier cars and further attract yourself into the burden of bills that keep stacking up. We don’t save enough money. When we’re on our run like we’ve been since 2013 or 14, we’ve been on a positive cycle of you know, I don’t know 1011 year cycle, we’re breaking records right now, people forget the pain that they dealt with in 2000 and 789. So it’s an easy place to lose perspective, and lose track of the long term. And what eXp does is it creates sort of a three-lane highway for us to operate in real estate, you have lane one, which is selling real estate, but we solve a lot of the problems like healthcare, I buyer programs, technology, referral programs do our workplace, instant support that’s virtual through our cloud campus and our 600 employees on technology, marketing, flyers, websites, squeeze pages, the whole gamut, you have all of that lane one. But you also have a lane two and a lane three to help aid you when you get burnt out or you go through a downtime, or you need a mental health break or, or anything a crisis and lean-to ease earning shares of stock at a company that’s gone from $2.87 on the Pink Sheets, to trading at $40 a share today after the split. So my wife and I have been able to build a portfolio that’s seven figures by doing what I did for the 23 years before that for trophies. So we have lane two, and then lane three is the ability to assemble talent, build your culture and work together. So essentially, I brought over 51 agents to this brokerage, most of them within the first 18 months of being here. And they had some of them, they might already have repeated that same opportunity. they seize those moments. And now I have almost 1600 agents and we’re adding more agents per month and my entire former brokerage had over 20 something years of being in the business. So when you look at does this solve problems? Yeah, if there are three ways to get paid for what we used to do, all the time for one source of payment, I think that you can get there three times as fast.

Brett:

Perfect. So now let’s dive into your actual story. So give us the first time you hear about eXp, what your first response was to it. And maybe it was, you’re a believer right away and you moved over you saw it. Maybe there was some skepticism. What were the biggest challenges or hurdles for you a very successful real estate professional, right going to eXp tell us like before, and then we’ll go during and after?

Rich:

Yeah, so I was very skeptical because I grew up in South Florida, so comes inherently with the territory. Um, I think I found out about eXp probably in June of 2017. I was doing about $43 million a business that year. I was all gray-haired. I had a one-year-old, I started being rather late, I have two little boys now. One, that’s almost 5, and one, that’s 2. And I was feeling like I was gonna miss all of his childhood if I continue to operate at the pace frantic, bizarre pace that I was operating at. So I decided in about 10 minutes like I had nothing to lose. So I joined on August 4, I brought over about 45 listings, we were about 1300 agents who had eXp we were only open in 38 states. It was sort of a startup still, even at that period of time. And I started to address real issues that other agents were having, like, Listen, guys, how do we get out of this? We know how to get into trouble. How do we get out of it? And how do we get out of it without divorcing the income and the stability that we’ve been able to provide by getting into the circus to start with? And I was I guess articulate enough to explain this to enough agents to gather some momentum and steam. The good news about being a productive agent is I knew all of the big players that I only went after the best agents. So that was very helpful for me because every agent that I came over was sort of a legend in their own right. So their influence then superseded mine to where they brought agents over, I was not the most popular guy, I don’t hang out with realtors, I don’t go to big events. Anytime I get an airplane, it’s because I’m going to travel for fun. So I was sort of a black sheep have a success story at eXp. So if I can do it, then that means any personality type or mindset could be successful. If you just do the micro stuff, every day initially.

Brett:

Excellent. So you’re skeptical at first. But you looked at it, you underwrote it. And you really ask the question, how do we get out of this collectively, not just you work in this frantic pace, seeing your baby, first baby boy, right? And you’re going I don’t want to miss this. And so that went from taking action and saying, What’s the worst that can happen? By the way? It’s similar. What I thought he was like, Ah, well, the worst thing that can happen is I just go back to what I was doing before, like, try this for a year. And it’s not this good to be true, right? I and I always say no, it’s this good to be true. Like it is exceeding my expectations every step of the way, with the leadership with the culture, with the technology, with the people I met, I went to my first ESB event in Cabo just a few months ago. And I’m going, I’m going Wait, every step of the way exceeds my expectations. So for those who are listening out there right now and ask Rich this question as well. I want to encourage you, I want to challenge you to what’s the worst that can happen. You can work for six to 12 months, and it’s actually and it’s all bs or it doesn’t work out or it’s not what you thought to go back to where you’re at. Right? But in this scenario, literally, every step of the way, with the people with the culture with the leadership with the technology, because what its agent own right, so we’re in this together, even Rich been on the show right now, he doesn’t need to be on the show. He doesn’t need to work ever again. But Rich talks about that camaraderie, that connection, that culture, which is like nothing I’ve experienced before in any industry. So how have you experienced that as well?

Rich:

The same exact way that you have everything is mind-blowing? If you’re a skeptic on eXp, I understand. But this company is revolutionary. I buy shares of stock out of my pocket because I believe I’m so bullish on this stock, I can’t even tell you. So the fact of the matter is, is we’re at 55,000 agents, we’ll be at 100,000 agents at the end of the year. And revenue and agent count are parallel hockey sticks for us. So if you’re, if you’re a skeptic on eXp asked yourself the question, am I renting my career? Or do I have equity in my brokerage, because you’re spending way too many hours in yours there to not know the answer to that, if it’s not your name on the sign, you are the retirement plan for somebody else, you have nothing to lose coming over here. I mean, you’re going to earn stock, whether you like it or not, whether you believe in it or not. Right, you’re going to have technology that will spin your head 360 because it’s light years away from what you have now. And then if you have influence and the ability to be a connector and to if you’re a good ambassador for the company and you love it, then you have this third lane, which very few of us take advantage of. And it’s the revenue share lane. And the way that I looked at it as I’ve had 13 people screenshot me. They’ve retired seven-figure stock statements or their revenue share in excess, I can’t talk about revenue share numbers, I wish I could because I’m dying to vomit that all over you. When people say that this doesn’t work, I make more money than those people do in a year in a month. Right. And it’s not because I’m the magical agent. It’s because I’m on the escalator and they’re on the staircase, and what they could look like on an escalator is for them to daydream about. But the fact of the matter is that every event is collaborative like no other company has ever been. Every event is done to the nines, every move they make is strategic and there’s a benefit to every agent. I mean, you know, this company, the Department of Defense is using our technology. I mean, it’s a bulletproof system. And if COVID didn’t exacerbate the things that we’ve been preaching for, you know, now at this point, what 12 or 13 years the company’s been in information, then I don’t know what is, I mean, we doubled an agent count. And in the top three big you know, I think we’re number three or four in the country as far as transactions, but everybody in front of us either at best stayed the same agent count or last agents net.

 

On Deciding to Give eXp a Run with Rich Tomasini

On Deciding to Give eXp a Run: “No is the killer of dreams. No is the killer of great ideas. It’s the end of a conversation.” – Robert Reffkin

 

Brett:

Thank you Rich for sharing that. So and I and I second and I agree with all of that and again challenged every agent out there who’s listening to this or every broker, even if you have your own brokerage and maybe there’s something we can dive into Rich like some people say, Well, I want to buy this other brokerage or I’m in succession to this other brokerage. I actually have a good friend of mine, we’re mastermind together, and I’m recruited to the XP and you know, he’s like, hey, if I ever come out, I’ll come but I’ve got you to know, the guy who mentored me and coached me and I go, Hey, I know you’re loyal to him. I get that. And I might be buying that from him. And I’m going, but wouldn’t it be better if you entire thing came over when they actually better for him as well. Because if you think about it, the exit plan for him is a sell it to you you take over. But what if you could have a recurring income stream over a period of time? And you both could have So spoken to the person who’s saying, well, I might be buying another brokerage, right? And speak to the broker who’s saying, I already have my own thing going, why would I? Why would I join the eXp?

Rich:

Yeah, the hardest part of this whole conversation is we have to take their ego and pull it out of them and place it on the table for 30 minutes. A very challenging process there. One of the things that I think would be very important is you can’t scale and compound as an independent bridge owner as you can at eXp, I have agents in 10 countries right now, there’s no way to grow in the way that we grew up. Number two, you know, insurance, liability, all these antiquated expenses, having to buy the tech lead generation, you got to look at your attrition. All of these types of components are huge, huge issues. For most Indies. If you look at their agent, most Indies, the person who’s going to buy the company or the company, the person who’s selling it is still in production, then you got to go hire a recruiter, you got to work off a territory that is within driving distance from your office, you’re playing in the kiddie pool. And it’s and that’s not meant to be a really honestly a critique, because that was the only way that we’ve ever been able to do this for the length of this industry. But now eXp you can compound so I have agents that are in Texas and California and New York that brought over hundreds of agents and other states. I have agents in 46 states. I haven’t traveled to 46 states in my lifetime. Where else can you compound you can’t scale a hero. And it’s very hard to sell these boutiques like to me, Zillow is the elephant in the room. I don’t know how these indies are gonna be able to deal with Zillow. One thing about eXp that’s so awesome is that when we bought showcase, it gave us an IDX to all 460 plus MLS is in the country. So we could create a public interface for the retail to use that’s an alternative to Zillow in combat, then there are all kinds of industry, things coming down the pipeline, there are all kinds of agent retention issues. There are all kinds of liability, stress, and hours that are involved in brokerages that are solved by eXp doing most of that heavy lift for you. The only thing that you have to do is give up autonomy on MLS but you don’t have to give up autonomy and your branding, or your market presence, or your niche of business. It’s just solely at on the MLS it says eXp Realty. But your business is powered through eXp from the public side. So I brought over a ton of brokerage owners to eXp that’s how I’ve been able to get my group kind of, you know, on the beginning of being robust in size. And it’s because brokerage owners have the same problem, it’s very hard to sell them. It’s very hard to keep your best agents. At eXp, if I have an agent that’s on my team that becomes a rock star, they can stay with eXp get off my team icon here and be at the exact same commission splits that I’m at with 23 years in a business. The margin that I was making on my team was at the expense of their opportunity. And here, that just isn’t true.

Brett:

I love the way you say the margin. Say that one more time the margin that was making off my team is at the expense of their opportunity. Opportunity to explore their business, right? Because exactly right. And Marcus and Millichap I would like to train my competition. I was recruiting I was a big cheerleader for Marcus and Millichap and they’re a great company and their training. And their leadership was phenomenal. But I felt like the model is always stacked against us. Marcus was always getting the billions. And we’re working with the hundreds of 1000s versus eXp like they’re making us millionaires and they’re still growing and they’re still getting plenty. But it’s that we’re in it together. And instead of training my competition to either go to the cubicle next to me after we do a couple of deals together. Marcus gets made the worst if they go to sleep or Richard Ellis. They go to Sperry Van Ness. They go to Cushman and Wakefield and you’re like, wait, I just gave this get all my secrets. And now he’s my, direct competition like it’s and you can’t necessarily blame the guy either because he got a better deal and a better offer for somebody else. And we are independent contractors. We were not salary. We’re not benefits weren’t w two employees. And he also wants to be more entrepreneurial. So I feel like the Rubik’s Cube of being entrepreneurial loyalty, teamwork, 100% collaboration, they solve that he has solved that and they’ve all proven it with the residential model. And now the commercial just opened up and I’m ecstatic because that’s part of my objection five years ago, to be honest, it was like residential. I’m commercial, right? And so now it’s like there’s no excuse, we literally have an entire commercial focus. And the same but the same, same model, right. And the same ability to get revenue sharing. So can you speak to maybe just the opportunity for eXp commercial agents, who have not even heard of this, and what you would say if it was the beginning of the eXp residential?

Rich:

Yeah. 100%. So I wish would have gotten sooner. I just was exposed to it when I was exposed to it. Um, you know, I was a real estate appraiser. So we dealt with a lot of multi-units or, you know, rent schedules, operating income statements. And what I find that commercial agents are masters at is that they’re logical numbers, people, right, if it makes sense, the residential side of the business is all emotional. Do you love the wallpaper in this kitchen? You know, do you need a house? Is this neighborhood what you dreamed of? It’s always been too touchy-feely for me to feel comfortable. I love commercial agents because it makes perfect sense. The cap rate is the absorption rate? Is this the vacancy? Is this eXp against any other company? Did I lose you? Did I lose you? Hey, Brett.

Brett:

Sorry. I think it wasn’t you. I think it was actually our system. And we’ll get a little bit a little station identification there for a look at it there. So we were saying I last I heard you were real commercial real estate people, the more logical underwriting look at the numbers versus the emotion. So walk us through that.

Rich:

Yeah. So like, for example, from a production standpoint, I was an icon agent, which means that the company gifted every penny of commission that I paid to eXp back to me in stock. So I virtually worked here for 100%. Right? So over the course of 10 years, you know, that’s $160,000 of gifted stock. And over the course of three and a half years, it’s gone up 20 200% since I’ve been here, so what so when I look at this side by side, it’s a no brainer. Commercial agents seem to have a propensity for being able to do that much faster than residential agents. Something else that you said earlier on that really resonated is loyalty. Are you going to be loyal to your mentor? Yes, more loyal to your mentor than your wife or your husband, or your sanity or your old age your future? If you say yes to that, you might have boundary-line problems. The fact of the matter is, is that it’s called business. Because we’re out there taking time away from our personal life, to get this done just to play in the game of life, right? the least amount of work I can do to play the most is the key. And if you’re a workaholic, well, then you’re gonna love it here because there’s more money to be made, if you’re willing to put more time into it. So from a commercial element, we’re very small. What do we have, you probably know better than I do 1500 commercial agents that have 55,000, maybe 2000 commercial agents, were in diapers. So if I could have been at USP when we had 1500 residential agents, so I could control the narrative and get the word across, I would have 10 times the agent count that I have now. I mean, I was lucky I came over here when we have 3800 agents or so. Um, so I was able to control the narrative in my local area. But when it comes down to the commercial side, I think people don’t even consider us a commercial brokerage because we haven’t totally formatted to deal with Loopnet and CoStar, we’re still in motion. But we’ve got a lot of the pieces settled in and as soon as they add the revenue share element to commercial and really make it a commercial twin of the residential market despite a few differences. I think every commercial brokerage across the world will be here.

Brett:

Exactly right. That’s the vision we have here by the way here at eXp commercial as well as the Expert CRE Secrets Podcast and I’ve been fortunate enough to be able to speak at some of the eXp commercial events and be a part of kind of the initial it’s a 20 or 30 like inner circle advisory team for the brokerage and but it is about giving back and it is about giving a space for brokers who otherwise don’t want all the broker liability right don’t have maybe even the capital to launch their own brokerage and are looking to still maintain collaboration and culture and sharing like it’s again, like nothing I’ve seen before and I was at again one of the top companies in the world for commercial real estate brokers at Marcus and Millichap. And by the way that the Jim Wong who’s he’s the president of the eXp commercial. He’s a former Marcus and Millichap agent. Yeah. And then he launched a spirit or build spirit, global affiliates, and BRC advisors to 150 advisors, 2 billion in commercial sales every year. big company, he’s done really well. And he’s phenomenal and with that type of leadership and building the type of culture and bringing the best from each company. You’re right, we’re still in diapers, but we’re growing really fast and we’re looking to make a big deal. Last year in the future.

Rich:

Yeah, I mean, think about the people that are running this company, Glenn Sanford 54. He’s the brightest guy in the room, period. He’s iterating technology constantly. Right? Jeff, on the financial side, Dave Canard and Stacy Owen and his co-presidents, James Wong in the commercial lead, Randy Miles when you’re talking about the people that are running this company. I mean, I bet on us versus Apple, you know, the closer you get to the, to the leadership of this company, the more bullish you get on the stock, and the overall vision of the company, I think a lot of realtors that are working on the ground level, like my broker created a narrative for eXp, and I’m not going to do any due diligence. So I’ll just adopt there’s, I get it. I think I’m guilty of doing that probably across the board in life, right. But when you start investigating it, people are passionately against eXp, our competitors. And that’s for a reason. They don’t know how to combat us, Keller Williams can’t shave off their franchise model and cut their $40,000 leases, compass can’t grow without writing checks, right? We’re growing grassroots organically from one agent at a time to another and we’re breaking every record on the board, and we’re talking 50% of the revenue of this company, and we’re cycling it back to the agents. Like I mean, this is if you’re in the giving spirit, if you’re a servant leader, this is the place where you lead because the company’s doing it at the highest level back to us.

Brett:

100%, and on to that point to what I love about the leadership is their focus is not the client. Their focus is the realtor. It’s the realtor, it’s us. It’s the commercial broker, it’s a real estate agent, real estate broker, that’s the first thing and their philosophy is if we take care of the real estate agent, they will take care of the client. Right, and our business will grow. And that’s the focus is how do we, with healthcare, with revenue share with stock with ownership with collaboration with technology, with the tools, right with making it a place where you can grow a business and I call it the Rich, Rich broker, poor broker, right? And then Rich can be you know, financially, but it can also be your lifestyle and what you’re doing and there’s a quadrant, and this guy named Robert Kiyosaki wrote a book called a cashflow quadrant. And you have to ask yourself, what side of the quadrant Are you on as a broker? Right? Are you self-employed? Are you a W2? Are you a business owner? And are you an investor, which is the right side of the quadrant where most agents like Rich said you’re renting? And you are self-employed in building someone else’s dream built someone else’s business. Where if you get on the right side with eXp become a business owner, right? And a part of the XP and ability to be an investor and start to get income from again, coaching and training and perhaps doing things you’ve always already done. But they share the revenue. So all that being said, we’re running out of time Rich, are you ready for the lightning round?

Rich:

Let’s go.

Brett:

All right, knowing what you know. Now if you go back to your 25-year-old self with one Golden Nugget, make sure to tell yourself what to do.

Rich:

Be patient, micro daily habits to achieve large things versus trying to get it done in a few months and burn it out. 

 

On Deciding to Give eXp a Run with Rich Tomasini

Brett:

Second question, what’s the number one book you’ve recommended to give him the most in the past year?

Rich:

Die with Zero.

 

 

 

Brett:

Next question, what’s your favorite leadership quote or theme that you strive to live by?

Rich:

The Law of the Lid by John Maxwell? Presenting yourself is an example of a leader and giving margin for your people to aspire to raise themselves creating margin.

Brett:

Love that. What’s the number one challenge facing real estate agents?

Rich:

Themselves?

Brett:

Their ego, right? What are you most curious about?

Rich:

What my two boys end up being like as men probably?

Brett:

How old are they?

Rich:

Almost five and two? I’m really I’m a late starter.

Brett:

Have you got any sports going? what’s the deal?

Rich:

My son just played his first season a T ball and he killed it. Hit the ball. Great field of the ball. Well, and my two-year-old is just a fan. He’s not involved in anything yet.

Brett:

It’s all good. It’s a dream. I got a three-year-old and a five-year-old. You understand boy and girl there. And then I had a couple of other girls above that. But it’s a cool age. Right when they’re Oh, yeah. It’s the curiosity. It’s the energy. It’s nonstop you know, just the best life. It’s the best. Yep. Second last question. What are you most curious about right now?

Rich:

I’m not really living in the future. And I’m certainly not living in the past. This is about as present as I’ve been. I’m not ultra curious about anything right now as much as I’m just on here and I’m taking it in. And I’m not doing nine hours of screen time. I’m learning how to relax. So maybe I’m curious to see if I achieve that or if I just attempt it.

Brett:

Yeah, I love it. Great answer, last question. After all your success Rich, being a rock star real estate. Selling, you know, millions and millions and millions of dollars with your team moving over to eXp, having your family, your kids all the success achieving the completely passive lifestyle, right? How do you stay centered in your values? And how do you stay encouraged to charge forward to reach new heights?

Rich:

Good question. I’m naturally pretty ambitious. But I don’t care to ever be number one at eXp, and I don’t think I could ever achieve that. I think I’m number I’m in the top 30 out of 55,000 in revenue share. But number one is a commitment that I can’t make or talent that I don’t have probably a combination. So I’m so I like to compete within the context of seven or eight hours of working time per week. So I’m ambitious during those times, and then I shut it off. As far as I’m staying rooted. I really came upon making a reasonably large amount of money probably in my late 30s and early 40s. So we had plenty of time for values to settle in. And then I had little kids right at the part where any kind of bad qualities that I would have would be amplified by the wealth that we’ve been able to build. So that was a grounding element. But most importantly, I probably don’t think that I’m very special, or I made all this money because I have all this infinite wisdom, I feel fortunate to be at the right place that I’ve been doing the right thing to be making sure that my people succeed and therefore I succeed and I don’t really overthink it. So I don’t have to walk around with this chip on my shoulder like we created everything what I’m trying to do is help people get out of it for free, I don’t care who they sign up for at eXp just come over.

Brett:

100% risk It’s been more than a pleasure I want to encourage you to keep using the gifts you’ve been given to think outside the box to build loyalty and consult consultation to your relationship building and have you know the the the the courage to help others do the same so for those who want to get in touch with Rich he doesn’t didn’t really take calls but you might want to find them somewhere. There’s only take emails and you really have a website going right now and that’s for the eXp but it is Rich Tomasini and perhaps it took his name up and search out to him and if you are encouraged or motivated. If you’re not after this episode, you probably listen to the wrong podcast but if you are, you can reach out to Rich or me to learn more about eXp and to learn about how the opportunity can be for you and your family and your future and your business. We would love the opportunity to help you out that being said please rate review subscribe, I want to thank you for being another part of a listen to an episode of the Capital Gains Tax Solutions Podcast, and also the Expert CRE Secrets Podcast where we believe most real estate agents and brokers, luxury agents, they struggle with clarifying their passive income options. I have any clear plan is the enemy and using a proven broken strategy such as the eXp commercial model or residential model is the best way for you to build your real estate business and get out of the transaction treadmill please go to expertcresecrets.com to learn more about that. Thanks, everybody. Please share this with a realtor who needs to hear this today. Thanks, everybody. Bye

 

Important Links:

 

About Rich Tomasini

 

On Deciding to Give eXp a Run with Rich Tomasini

Rich was exposed to residential real estate around a family appraisal business.
These experiences provided a solid foundation on which to build a successful real
estate sales career. He excelled as a realtor, developing and fostering a dynamic team, who in a
decade, grew to produce over half a billion dollars in annual sales volume. Yearning
for more opportunities and challenges, he joined an innovative cloud-based real estate
venture allowing me to leverage my career knowledge.

Using his sales skills and savvy developed educational presentations, and innovative realtor training videos, to grow my team of three, into a domestic and international powerhouse team
of more than 800 associated agents, in multiple states and countries. As a growth-minded real estate entrepreneur and influencer, he has thrived on developing ambitious, talented salespeople, helping them expand their potential and reach their professional goals. Through my holistic mantra, he has developed a more balanced work-life approach to business, yielding myriad results both personally and professionally.

 

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