Here at eXp Realty, there are so many incredible opportunities and tools for agents, but can sometimes be a little overwhelming. Whether you are with eXp now or are thinking about joining our agent-owned real estate brokerage, we’ve assembled some of the most frequently asked questions about eXp Realty.
The FAQs below are in five sections:
Every agent at eXp Realty has a split of 80/20 until the cap is met.
Yes, eXp agents cap when they pay $16,000 to the company. So if you earn $80,000+ in gross commission (GCI) you should reach your commission cap each year. Reduced caps are available for teams at eXp.
No! Just $85 per month to our national brokerage
Yes, it’s just $40 per transaction with a max of $500 annually.
Zip. Zero. We are a nationally owned brokerage, so there are no franchises. This should save many agents thousands of dollars each year.
eXp Realty has a stock purchase plan that allows agents to take 5% of their commission checks and buy the stock at a 10% discount. If you’d like to buy stock on your own, you can set up a brokerage account – TD Ameritrade and E*Trade are popular options for many real estate agents, but there are many others so check with friends and family for recommendations to find the best stock brokerage account for your needs.
After you sell your first home, you are awarded stock in the company! Agents also receive stock awards when they hit their commission cap, introduce another agent to the company that closes a real estate transaction and/or become an eXp ICON. The best award is the ICON Agent stock award where top-producing agents receive up to $16,000 worth of stock every year that they receive the ICON award
Most of the stock awards agents receive are vested after three (3) years. So if you received a stock award for hitting your commission cap in January of 2020, you could cash it out (or move to your personal brokerage account) in 2023.
Agents at eXp have multiple options for training, but more than 60 hours of training occurs EVERY week in our virtual office, eXpWorld. You can log in from your phone or computer and use an avatar to walk around the campus and interact / learn with agents from around the country.
Absolutely! Each area has regular meetings, lunch and learns, CE classes, etc. If you need to occasionally use a physical office for training or meetings, eXp Realty has an agreement with Regus Business Centers to provide agents with free access to their facilities and discounts on spaces for private meetings and events.
We are now located in all 50 states, as well as Canada, Mexico, Australia, UK, France, South Africa, Portugal, and India. Contact eXp agent/owner Kerry Lucasse to see if eXp is located in your area (or if it’s coming soon!).
Each state has at least one state broker. Some larger states also have regional compliance brokers to assist agents and review contracts.
As of February 2021, we have over 40,000 agents at eXp. We are one of the fastest-growing real estate brokerages in the country, as more and more agents from across the world continue to flock to eXp Realty.
Without a doubt. eXp offers the FastStart training program for new agents, as well as new agent masterminds, and 50+ hours of live training each week. Also, all new agents are paired with a local mentor that works with them on their first three transactions (and beyond if you’d like) for a small mentor fee. As a new agent at eXp, you have such a great support system with your broker, mentor, and sponsor and you always have someone to answer your questions and help get your business off the ground.
All of the eXp Realty mentors go through an extensive certification process to make sure they are well-equipped to help new agents. After you join eXp, your broker will pair you with a local mentor. If you already have a certified eXp mentor in mind in the same geographical area, please let the broker know and they can make a match — assuming of course that the mentor has the bandwidth to work with a new mentee!
Because eXp doesn’t have a lot of overhead – like the typical brokerage – they are able to share half of the 20% split with agents who help our company grow.
For every real estate agent you personally introduce to eXp, you’ll receive up to $2,800 each year. If you have agents who introduce more agents, you’ll also earn a percentage of what they sell.
No, it’s completely up to you!
You receive a percentage of the gross commission generated by the agents you introduce to the company and any agents that are in your seven levels of your revenue share group. If one of your recruits sells a $500K home, you’ll make 3.5% of the $15,000 commission earned ($525).
For every real estate agent you personally introduce to eXp Realty you can earn up to $2,800 annually. Your revenue share team is seven lines deep, so you’ll also earn between 0.2% and 5% of what those agents earn. Long story short, there is no limit to the amount of rev share you can earn at eXp Realty!
On the 22nd of every month, you receive the revenue share generated the previous month. Example: The agents in your rev share group generated $50,000 in gross commission in January. You’ll receive a revenue share payment of about $1,750 ($50,000 x 3.5%) will arrive in your bank account on February 22.
eXp Realty created a system called Enterprise and it allows you to have a real-time view of all your earnings. You can see your sales data, stock awards, and revenue share for the upcoming month. Many agents check Enterprise every few days as they like to see how quickly their revenue share is growing and get an idea of what they will receive on the 22nd of the month.
Traditional real estate brokerages generally follow the same setup: Agents and staff work out of a brick-and-mortar office, commission structures are established and then agents are pretty much on their own. But eXp Realty takes a hugely different approach.
We have the corporate headquarters in Bellingham, Washington, and a few brick and mortar offices in states that require a physical office. Other than that, eXp agents and brokers work from their home offices, remote office space or Regus Coworking Center. As a company, this saves a tremendous amount of money and eXp is able to share the savings with their agents through lower costs and the revenue sharing program.
eXp has it covered. Every agent receives a free membership to the Regus Business Lounges (a co-working center) so you can go in and work in between appointments or reserve a conference room for you and your clients. There are over 3,000 Regus co-working offices in the US, so there should be at least one that’s convenient for you!
Your sponsor is the person that introduced you to eXp Realty. If you spoke with multiple people before deciding to join eXp, you should name the sponsor that was the “procuring cause” or in other words, helped you say YES! to the brokerage. Also, you want to have a sponsor that is going to help you navigate the brokerage tools and technology and can guide you in the growth of your business — even if they are in another state!
If you leave the company for at least six months, you can select a different sponsor upon your return to eXp Realty.
Here at eXp Realty, we have a unique way of making sure that agents have an abundance of resources when you need assistance. Your broker, sponsor and/or mentor can answer many of your questions, but you can also pop into the virtual office and visit the accounting department, technology team, and more. The virtual office is open about 10 to 12 hours a day so it’s super convenient for agents. You can also visit eXp Workplace and chat with your brokers, transaction team, accounting, stock services, and more.
The simple answer is that our founder, Glenn Sandford, loved that it was a prefix for many of the words that represent the culture and values here at eXp Realty. A few examples include: eXceptional, eXperts, eXcellence, eXpectations, eXposure, eXponential and many others.
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.