An adept negotiator and tech-forward real estate professional, Suzy Truax serves on the board of directors for EXP World Holdings (the parent company of EXP Realty) and is the chairperson of EXP Realty’s Agent Advisory Council. With over two decades of diverse real estate expertise, Suzy holds broker licenses in California, Pennsylvania, and Florida, and is also a licensed salesperson in New Jersey. She leads her sales team, The Smart Move, in the San Francisco Bay Area. Throughout her career, Suzy has mastered multiple aspects of real estate: sales, education, investment, corporate relocation, and coaching. However, she says that one of her most important roles and her passion project is empowering women.
How did your journey into real estate begin?
I began my career in residential sales in suburban Philadelphia as a way to supplement the family income when my children were still small. Fortunately, I experienced a high degree of success right away. I was number one in sales volume at my company by my fourth year in business. In 2006, I moved over to the franchise growth and brokerage management side of the business and launched a major national real estate franchise in Philadelphia as a team leader.
What brought you to California?
I moved to California in 2014 and helped launch a national real estate franchise in San Francisco. Through my success in that role, I was tapped to facilitate a turnaround of a flagging real estate company in Silicon Valley. That’s when I serendipitously discovered the EXP business model.
What is the EXP business model?
EXP Realty’s revolutionary virtual-office business model eliminates the expensive overhead of a traditional brick-and-mortar brokerage. The savings are passed along to the agents, allowing them to keep 80-100% of their commissions. Agents also have the opportunity to participate in a variety of performance and growth incentives, such as revenue sharing and equity in the company.
How did you make this discovery?
At first, I was doing reconnaissance on the competition, as I was employed at another real estate company at the time. I knew little about EXP but was quickly intrigued by what I discovered about their business model. I thoroughly enjoyed my team leader/CEO role, the comp and benefits were decent. But after doing due diligence on EXP, I handed in my resignation and took a leap of faith to start over as an agent.
How has your career been with EXP? Was it worth the risk?
I joined EXP due to the pioneering agent-centric business model, plus the incomparable integrity of the leadership. Within the first days, I gained access to the massive library of archived and live training and education. Last year I had my best financial year in the business. But more importantly, I had my happiest year in business, and it has continued! So, yes, it was definitely worth the leap of faith - my only regret is not discovering EXP sooner.
What would you say is the best part of working at EXP?
Seemingly ironic for a remote work environment, our connection and collaboration are unparalleled. Every day, via multiple platforms, I’m able to communicate and learn from 23,000 other agents, and my broker! We have over 2500 interest groups in EXP Workplace…EXP Power Girls, EXP Referral Network, Latino EXP, and so many more. Every week, top national agents teach classes on best practices and the secret sauce of their success within EXP World, at no cost to the agent. Via our stock compensation and revenue sharing programs, agents have an avenue to retirement, in an industry where no such option exists. Additionally, EXP is rolling out health insurance to agents, beginning in 2020. So, it’s easy to see why it’s the fastest growing real estate company of all time.
Explain EXP’s Agent Advisory Council, and tell us about your role.
The founder of EXP, Glenn Sanford, and CEO, Jason Gesing, recognized that our rapid growth created a challenge for staying in touch with the agents’ needs. To solve that, they created the Agent Advisory Council, which is a body of twelve agents, charged with keeping their finger on the pulse of the agent, and to be the voice of the agent population at the leadership level. At EXP, the agent is the most important customer; if EXP arms and equips agents with the best tools and takes care of their needs, everyone benefits. I was selected as chairperson of the first Agent Advisory Council. In August of 2017, I was invited to join the board of directors of EXP World Holdings.
Aside from real estate, what is your greatest passion in life?
My big “why” is my children, but since they are grown, my passion in life is to empower and elevate women. One way that I do this is by speaking to women on how to invest in real estate, by breaking it down and answering questions for them. I created a Facebook group called, Wired Women Investing in Real Estate, when I recognized a pretty major blind spot in myself. I realized I spoke to my two sons about becoming entrepreneurs and owning businesses, yet I failed to have those same conversations with my daughter. Social conditioning or not, I recognized the need for change. For women to have their best lives, they must be in control of their financial destinies, and building wealth through owning real estate is one path. I enjoy coaching women in business by mentoring those who express an interest in leadership positions.
2435 Mission Street #8
San Francisco CA 94110
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