eXp Realty’s revolutionary virtual-office business model does away with the added costs of a traditional brick-and-mortar brokerage. Keep 80-100% of your commissions, and enjoy a low company cap.Many of you have heard about all that eXp Realty has to offer their agents – from powerful lead generation tools to dozens of weekly training sessions – 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 so the typical agents and the top producing agents can see how much they could potentially save each year. eXp Realty offers some fantastic opportunities to earn additional income that will help you recoup any splits or fees you paid to the brokerage of the year.
When you join eXp Realty, there is a $149 Startup Fee that includes your first monthly fee as well as:
There is a monthly fee of $85 that covers your lead generation tools and the university tuition that includes 60+ hours of live training classes each week, guest speakers, workshops, and mastermind sessions. You’ll also have access to a large library of on-demand training videos that cover everything from generating leads on Facebook to building a team.
There is an 80/20 commission split until you reach 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 eXp $16K, you keep 100% of your commissions for the remainder of your anniversary year. Once you’ve reached your cap, there is just a $250 transaction fee for the next 20 transactions and $75 after that.
Please note that agents who sold fewer than 3 homes in the past 12 months will be in the eXp Mentor Program. There is an additional 20% split for your first 3 transactions with your local mentor.
In order to keep your monthly costs down, eXp elected to charge your E&O (Errors and Omissions) Insurance by transaction. You pay just $40 per sale until you reach the $500 annual cap. The remainder of the year is no cost. There is also a $25 broker review fee to ensure your contracts are rock solid!
In the video, we also looked at what real estate agents would take home at the end of the year versus the average real estate brokerage. For the typical agent who sells about 10-12 homes and does $80,000 GCI, they would save over $4,000 per year with eXp Realty. For top producing agents who are selling about 25 homes and generating $300,000 GCI, the savings averaged about $53,000. See the full example of the eXp Realty commission / fee breakdown in the video above as well as the different options for you to earn back some or all of the money you paid into the brokerage.
eXp Realty offers some fantastic opportunities to earn additional income that will help you recoup any splits or fees you paid to the brokerage of the year. The first option is the EXPI Stock Awards where you can receive stock for your first transaction each year, hitting your commission cap and introducing someone to the company.
There are occasional changes to the eXp Realty commission structure, fees and/or awards, so if you are seriously considering joining our brokerage, please contact eXp Agent/Owner Kerry Lucasse to receive the latest presentation with a breakdown of offerings and fees.
The first option is the EXPI Stock Awards where you can receive stock for your first transaction each year, hitting your commission cap and introducing someone to the company. With eXp Realty’s Sustainable Equity Plan, our agents receive stock awards for accomplishing specific goals each year.
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 and/or earn at least $500K GCI annually and paid at least $5K in transaction fees. As of 2019, you’ll receive $12,000 worth of stock when you meet the qualifications, as well as an additional $4,000 if you attend our two annual eXp conferences.
The third way that you can earn additional income is by attracting other agents to the brokerage and participating in the eXp Realty revenue share program. You’ll not only receive $400 worth of EXPI stock* for each agent you introduce, eXp will also share 3.5% of whatever your sponsored agent sells until they hit their $16K cap. If your agent sells a home that generates $15,000 in gross commission, eXp will share 3.5% with you (i.e. $525). If you bring six agents (cappers) to eXp, you would earn $16,000 in revenue share… every year. This program creates an environment where everyone really wants to help one another success… and it’s working!
Providing some of the most powerful online marketing tools, virtual technologies and healthcare.
No desk fees. No royalty fees. No franchise fees. Keep 80-100% of commissions + a low company cap.
Offers an exit strategy for agents, allowing them to earn more income by attracting like-minded agents.