eXp Realty Commission Splits & Fees
Many of you have heard about all that eXp Realty has to offer their agents – from powerful lead gen tools to dozens of weekly training classes – but you also want to make sure that the broker splits and fees are better (or similar to) your current real estate brokerage. In the following video, we do a deep dive into the eXp Realty commission splits, annual cap and any monthly or annual fees. There are also comparison charts, based on your level of production each year. The best part of this video…. find out how you can create multiple revenue streams that will allow you to earn more so you can keep 100% of your hard-earned commissions each year!
If you have any questions after watching the video, please don’t hesitate to reach out to us! Call Kerry Lucasse at 404-432-1844 or 404-205-8801.
Overview of the eXp Realty Commission Structure
Notes from the Video
Basic Fees & Splits:
eXp has a $99 start-up fee, which includes your business cards, presentation folders, website set up and your first monthly fee. On an annual basis, there is a $420 University Tuition fee that is taking out of your first eXp Realty commission check and includes 20-25 hours of live classes each week, guest speakers, workshops and on demand training. Every month, it is just $50 to be an agent at eXp Realty!
There is an 80/20 commission split until you hit your $16,000 annual cap. For those of you that aren’t familiar with a “commission cap”, that just means that once you’ve paid the brokerage $16K, you keep 100% of your commissions for the remainder of your anniversary year. Once you’ve reached the cap, there is just a $250 transaction fee for the next 20 transactions and $75 after that. In order to keep your monthly costs down, eXp elected to charge your E&O (Errors and Omissions) Insurance by transaction. You just pay $30 per sale until you reach $500 (17 sales). The remainder of the year is no cost. There is also a $25 broker review fee.
In the video, we also looked at what real estate agents would take home at the end of the year versus a typical brokerage. For the typical agent with $80K GCI, they would save about $4,400 per year with eXp. For top producing agents in the $300K GCI range, the savings averaged about $54,000. See the full example of the eXp Realty commission / fee breakdown in the video above.
How to keep 100% of your real estate commission:
eXp Realty offers some fantastic opportunities to earn additional income that will help you recoup any splits or fees you paid to the brokerage over the year. The first option is the EXPI Stock Awards where you can receive stock awards for your first transaction, hitting your commission cap and introducing someone to the company. There is also an ICON Agent Program that allows top producers to receive their $16,000 cap back in EXPI stock. You just have to sell 20 homes after capping or earn at least $500K in GCI annually. The third way that you can earn additional income is by attracting other agents to the brokerage and participating in the revenue share program. You’ll not only receive 150 shares of stock*, you can also earn 3.5% of whatever your sponsored agent sells until they hit their $16K cap. If you bring 6 cappers to the company, you would earn $16,000 in revenue share… every year. This program creates an environment where everyone wants to help one another succeed… and it’s working!
Have questions about the eXp Commission Plan or awards?
Call Kerry Lucasse anytime at 404-205-8801 or 404-432-1844.
PLEASE NOTE: This is not an official eXp communication and the information is subject to change. EXPI stock awards can vary based on the number of agents at the company (per chart in the video) and the stock price fluctuates daily. The ICON Agent Award qualifications may also change from year to year, so before joining our brokerage, please ask for the latest copy of the offerings, awards, and benefits!