At eXp Realty - EVERYONE IS ON A 80/20 SPLIT
View this link for the Brent Gove | eXp The Model Explained Video: https://youtu.be/pvOLY7tYqUI
Welcome to eXp Realty, your ultimate destination for all the information you need to know about joining our exceptional real estate brokerage. Discover everything you need to embark on a rewarding career in the thriving real estate industry. At eXp Realty, we offer unparalleled support, cutting-edge technology, and a dynamic community that empowers your success.
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Discover the advantages of joining eXp Realty, including our innovative cloud-based platform that equips you with the tools to streamline your operations and stay ahead of the competition. Leverage our industry-leading technologies, such as eXp World, a virtual world that facilitates collaboration and learning like never before.
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Unlock the potential of our revenue-sharing program, where you can earn passive income while building your real estate business. Experience the power of a company that rewards your achievements and invests in your long-term success.
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EXP SPLITS:
Solo Agent or Team Leader
20% of each commission goes to eXp until you have paid a total (maximum) of $16,000 for the year. After that, 100% goes to you until you start a new anniversary year. Transaction fees still apply. Click here for a full explanation of fees.
Team Members $8,000 Annual Cap
Mega Icon Team Members $4,000 Cap
Minimum 25% of each commission check must go to the team leader. Ask if you qualify for Mega Icon Team.
Then after you cap, THROW A PARTY
Because after that you only pay…
- $250 Transaction Fee at Closing (max $5000 per anniversary year, then it reduces to only $75 per closing for the rest of the anniversary year)
- $25 Broker Review
- $40 Risk Management (E&O) Fee ($500 max/year) for the remainder of that anniversary year!
eXp's Fee Structure.
$149 Once
A one-time setup (includes your first month $35 + $50 fees)
$50 per month
Technology fee – includes Skyslope transaction management software, KVCore CRM, and eXp World.
$35 Month – eXp University Tuition
Includes 40+ hours of online training per week.
$40 E&O Premium (max $500/yr)
$25 Broker Review
Revenue Share.
How Revenue Share Works
Some brokerages offer profit sharing to agents who sponsor agents into the brokerage. eXp offers revenue sharing which is based on commissions earned from selling real estate, not limited by the profitability of any particular market center. This makes a HUGE difference in the size of your revenue share check.
SINGLE-AGENT REVENUE SHARE
eXp pays you 3.5% of the commission earned by any agent
you personally sponsor into the company from the
company’s portion (up to $2,800 per year).
MULTIPLE AGENT REVENUE SHARE
Agents also earn residual income from producing agents
sponsored into their overall group. For example, if you personally
sponsor 5 producing agents into the company, and they sponsor
their own producing agents, you can earn up to $3,200 annually
for each of those other agents, which represents up to 4% of the
the gross commission, with no limits up to 7 levels deep.
eXp Stock.
eXp Realty is a publicly traded company (Symbol EXPI). and is listed with the NASDAQ. Stocks go up. Stocks go down. No guarantees or promises of performance are made here. But how much stock you getting with your current brokerage??
Agents can earn or purchase shares in several ways:
AT NO COST (“Awarded Shares”):
$200 in stock awarded for the first transaction of your anniversary year
$400 in stock to any agent or broker who caps (pays a full $16,000 over the year to eXp)
$400 in stock for each agent you sponsor into the company upon that agent’s FIRST closing.
There is a 3-year vesting period before awarded (vs. purchased) shares “vest” or belong to the agent. This encourages stability by giving agents an incentive to stay with eXp in order to benefit from the Equity Awards program.
AT REDUCED COST (“Purchased Shares”):
Agents may elect to have 5% of each commission (after splits and fees) invested in shares of the company at a 10% discount to Fair Market Value. In doing so, you are effectively “dollar cost averaging” by buying when the stock is at different prices. This helps you avoid buying a lot of shares at an all-time high for example.
AGENT ICON PROGRAM:
Top agents who meet certain production goals, are influencers in the real estate community, and attend the two major eXp events of the year can earn the icon designation whereby their entire $16,000 cap is given back to them in the form of shares of the company. In this case, 25% of the shares vest immediately, and the other 75% vest in the usual 3 year time period.
Mentorship Program.
Experienced agents may choose to become certified as mentors, giving a helping hand to new agents in the company. New agents are required to use the mentor program for their first few transactions and give 10% of their commission on those deals to their mentor. This provides an excellent opportunity for agents to leverage their experience to help others while also receiving compensation.
Understanding the Revenue Share Model at eXp
Diving into the revenue share structure at eXp Realty can be quite intriguing. This overview is by no means exhaustive, but it's a solid starting point for anyone looking to get a handle on how eXp stands out from the crowd.
Traditional Brokerage Earnings The usual model for brokerages to earn income is straightforward: agents pay fees to the brokerage, which then allocates that income across various expenses such as office space, marketing, personnel, franchise dues, and more.
The eXp Approach eXp Realty shakes things up with a non-traditional approach. Instead of the typical model, eXp operates on an 80/20 commission split. If you're eager to dive into the nitty-gritty, feel free to explore my more detailed post. For now, we'll keep the explanation concise and clear.
Here's the breakdown: Agents give 20% of their commission to eXp until they reach an annual cap of $16,000. Once you hit that threshold, you keep 100% of your commission for the rest of your year.
Let's not overlook the transaction fees involved:
You're charged a $250 transaction fee at closing, which is capped at $5,000 per year. After hitting the cap, it drops to $75. There's a $25 broker review fee. And a $40 risk management fee for E&O, capping at $500 annually. Allocation of the 20% Commission This is where it gets interesting. The 20% commission split is shared between eXp and the agents who brought you into the fold. Unlike my previous brokerages that didn't offer me a penny for recruiting, eXp actually compensates for bringing in new agents. It's a tiered profit sharing from the commissions generated from property sales. For instance, if you recruit five active agents, and they in turn sponsor their own agents, you could make up to $3,200 per year from each agent they sponsor, with the potential to earn from up to seven levels down.
Interested? Take a closer look and see for yourself.
