Chicago’s Steve Merritt Joined eXp for ‘Its Massive Upside’

In the middle of the action on the floor of the Chicago Mercantile Exchange, anticipating the overnight switch to electronic trading, Steve Merritt knew he needed a backup plan. He had always been interested in real estate investing, so he got his license and when it was time for a change, Merritt turned it into a full-time career.

Merritt became a top producing agent at a major brokerage in Illinois. He wasn’t looking to change companies, but when he saw a presentation about eXp Realty’s model at a multifamily property investors event in 2018, its opportunities immediately began to stand out. 

Chicago’s Steve Merritt says proceeds from his first ICON Agent award will pay college costs for one of his children.

Within a month, Merritt made the move to join eXp. 

“It had nothing to do with offers from other companies. I joined eXp because of the benefits and opportunities,” Merritt said. “They were too good for me to pass up; I didn’t see any risk in moving companies, only a massive upside at eXp.”

Merritt Saw the Advantages of eXp’s Model

Merritt knew his same production level at other companies would not be rewarded the way it would be at eXp. The ICON Agent award, the stock awards and revenue share program have made a significant difference in his business and life by putting long-term financial security automatically in play.

“The first ICON Award that I got is going to pay for one of my kid’s entire college costs,” Merritt said. “That’s been a huge game-changer for me. I’m able to do my real estate business as usual and have a retirement plan set up for myself and my family.”

Revenue Share Expanded Merritt’s Network

The revenue share program has allowed Merritt to form relationships he normally would not be able to at a traditional brokerage. He collaborates with agents across the United States, Canada, Mexico and India on a daily basis.

“Normally, in residential real estate, we’re just working with people in our market,” Merritt said. “eXp’s model opens it up and expands things for me and others across the world. The opportunities are endless and it makes it a lot more exciting.”

To Merritt, eXp is a brokerage that supports agents with opportunities unlike any other.

“The model that we have at eXp is so different and so dynamic. It’s supportive of agents and gives us such a diverse set of ways to run our business and to grow our legacy and to help our family long term,” Merritt said.

“It’s been an absolutely life-changing experience for me and so many of the other agents that have joined eXp. It’s the best business decision that I’ve ever made in my life, period.”

Learn More About Steve Merritt:

Years in real estate: Since 2004

Gross sales and transactions in 2020: $10 million, 35 transactions 

Brokerage history:

  • eXp Realty (Oct. 2018-current)
  • RE/MAX (Jan. 2013-Oct. 2018)
  • Ryan Hill Realty (2011-2013) 
  • Trademark Realty (2004-2011)

Main territory: Chicagoland Suburbs

Main focus: Residential sales, multifamily investment properties 

Number of people on team: 3

Accolades, accomplishments & awards:

  • RE/MAX Hall of Fame; 3x RE/MAX Chairman’s Club award ($500K+ annual GCI)
  • 3x Top 15 RE/MAX agents Illinois
  • eXp ICON Award

When and why did you join eXp?

“I understood the need for building a retirement plan. What better way than through the stock awards and revenue share offered by eXp? The ICON Award made eXp a no-brainer.”

What makes eXp special to you? 

“Being on the ground floor of a company that comes along once in a lifetime.  It’s special due to the people at eXp, the collaboration with other agents around the globe and the life-changing future it has given me.”

Is there a significant experience you can share since you joined eXp?

“The partnerships with other agents in my group have allowed me to build a 500+ agent downline in less than 3 years.  I’m truly grateful for the opportunity eXp has given me and the people who helped me get to this point.”

What is one thing about eXp that surprised you?

“eXp has agents that genuinely care about the other agents in the company and their success. As owners of the company through stock holdings and revenue share, we all benefit from the success of the agents in our company. This creates an environment of sharing, mentoring, assisting, and collaborating at a level I’ve never experienced at other companies.”

Have you had any experience or success around eXp’s global revenue share and commercial businesses yet?

“A large portion of my agent partners at eXp are from Canada and other countries.  The ability to receive revenue share from our global partners has been a life-changing experience for me personally.  There really are no limits to what we can accomplish at eXp.”

What kind of collaboration have you experienced at eXp?

“I participate in weekly mentoring and coaching sessions with partners in eXp through the eXp World and Zoom calls.  I have been to the last 2 eXp conventions, shareholders meetings and attraction events.  The knowledge-sharing, excitement, fun and camaraderie are off the charts at these events!  They are the highlights of my year!”

Best tip to share with other agents

“Become a master at selling.  Learn to be a great listener.  Read 10 pages of a self-improvement book every day.  Surround yourself with other successful people that you want to be like and get involved in mastermind groups. All of these tips changed my life for the better.” 

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