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.
How eXp Works
No desk fees. No royalty fees. No franchise fees.
No desk fees. No royalty fees. No franchise fees.
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 has to offer their agents – from powerful lead generation tools to dozens of weekly training sessions — but weren’t quite sure what our fee structure looked like. This is your chance to compare eXp Realty commission splits with your current brokerage.
Upfront Fee
When you join eXp Realty, there is a $149 Startup Fee that includes your first monthly fee as well as:
- Onboarding Assistant
- Setup of your new lead generation website
- Contact Management System (CRM)
- Regus Business Center Membership
- HelloFax # and Toll-free 800#
- Google Apps for work, storage, email
- Skyslope Transaction Management System
- Your personal eXp Agent Attraction Website
- Access to eXp World, our virtual campus
Additional Basic Fees
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 new agents or those who sold fewer than three (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. There is also a $25 broker review fee to ensure your contracts are rock solid!
Agent Savings
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 could potentially save over $8,000 per year with eXp Realty. For top producing agents who are selling about 25 homes and generating $300,000 GCI, the savings averaged about $60,000. 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.
OPTION 1
eXp Stock Equity Plan
The first option is the EXPI Stock Awards where you receive stock when someone you sponsor closes their first real estate transaction. With eXp Realty’s Sustainable Equity Plan, our agents receive stock awards for accomplishing specific goals each year.
OPTION 2
ICON Agent Award
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, we well as an additional $4,000 based on certain cultural requirements such as mentoring, teaching, and attending eXp events.
OPTION 3
Revenue Share Program
The third way that you can earn additional income is by participating in the eXp Realty revenue share program and attracting agents to the brokerage, who then meet the production and closed transaction requirements. You’ll not only receive $400 worth of EXPI stock* for each agent you introduce after they close their first real estate transaction, 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 have the ability to earn $16,000 in revenue share every year if the minimum production and closed transaction requirements are met. This program creates an environment where everyone really wants to help one another success and it’s working!
AGENT SUCCESS OBSESSED
eXp Realty is leading the way to create the best possible real estate brokerage model and place that empowers agents to succeed.
01
Receive Top Benefits
Providing some of the most powerful online marketing tools, virtual technologies and healthcare.
02
Keep More Commission
No desk fees. No royalty fees. No franchise fees. Keep 80-100% of commissions + a low company cap.
03
Earn Additional Income
Offers an exit strategy for agents, allowing them to earn more income by attracting like-minded agents.
04
Access Expert Training
50+ hours of weekly live training and access to “how-to” video library to learn at your own pace.
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