FAQs
Frequently Asked Questions for United States Agents...
eXp Realty is sweeping the globe faster than any other real estate brokerage in history. eXp is the #1 Agent-Owned Cloud-Based Real Estate Brokerage in the World.
eXp offers agents competitive splits and fees, tons of weekly live training that you can attend anywhere, and support through our cloud office 11 hours a day, Monday - Friday. Additionally, eXp awards real estate agents stock (EXPI) for hitting specific production and attraction benchmarks. Finally, eXp offers agents a one-of-a-kind opportunity to build a residual income stream called revenue share.
These are just some of the benefits of eXp Realty. Agents also receive the very best in lead generation websites and CRM systems, kvCORE. Plus, learn about how agents that have licenses in multiple states pay ONLY 1 cap with eXp. Finally, find out what the ICON agent program is and how eXp agents can earn their cap back in the form of EXPI stock every year.
Agents looking to join eXp Realty can partner with the Global Realty Team and gain free access to our exclusive training, coaching, courses, marketing templates, weekly webinars and support not found anywhere else!
CLICK HERE to review team bonuses.
When you join eXp Realty, just make sure the person you are naming as your sponsor is on the Global Realty Team so you are eligible to access our private members area.
eXp Realty was founded by Glenn Sanford who was a former Keller Williams agent who realized that a cloud based brokerage that offered revenue share was the future of real estate.
eXp Realty was incorporated in 2009.
eXp Realty is agent owned meaning that agents can acquire stock in the company and have a vested ownership in the brokerage. There are 6 ways that agents can acquire stock, from simply purchasing it to achieving certain performance benchmarks.
A cloud brokerage is a brokerage that does not have physical offices and conducts business entirely on the Internet. Think of Amazon. They are a cloud company. They have no physical stores yet they sell a ton of merchandise!
It depends on the state. Recently a lot of big teams who have space have flocked to eXp Realty. So it's possible you might be able to use their space or work something out with them for a nominal fee. Other than that, every agent and broker works from home or a remote office space. The company realizes a tremendous savings and is able to pass on the savings to agents in lowered costs.
We have that covered. eXp Realty has an agreement with Regus Business Lounges Worldwide to provide free access to their facilities.
We are currently operating in 50 states, 7 provinces in Canada, and internationally in the United Kingdom, Australia, Mexico, South Africa, Portugal, France & India. Michael Valdes is helping the country to expand internationally and plans to grow eXp from 40,000 agents to 100,000 agents in 2021.
Yes, we currently have residential, commercial, REO, and a luxury division.
Each state and country has one broker. Some larger states and countries also have compliance brokers to help with reviewing files.
We are constantly growing but currently have over 40,000 agents. We are the fastest growing brokerage in the world right now and one of the top 1,000 residential real estate brokerages in the United States. For the third straight year we have been recognized on the Swanepoel Mega 1000 list and are currently ranked the No. 1 Mover and Top Independent Brokerage on REAL Trends 500 Report.
For every agent that you introduce to and joins eXp Realty, you will receive a portion of their annual commissions. You will also receive revenue from agents they recruit up to 7 levels deep. The revenue share component of eXp Realty is the way you can create income even after you stop selling real estate. Revenue share is one of the most compelling reasons agents join eXp Realty.
It is eXp's way of giving back a percentage of the revenue that eXp receives from commissions earned to the agent for helping to grow the company. This money comes from eXp Realty's side of the split. Because eXp Realty does NOT have all the overhead experienced by most traditional brokerages like brick and mortar offices, redundant staffing positions, and corporate recruiters, team leaders, and franchise owners, eXp can reward agents off the top, in the form of revenue sharing.
This revenue share can be earned from agents all across the US and Canada regardless of if the agent they attract to the company is in the same state or not. Also, revenue share is paid per deal the agent closes regardless of if the agent does 1 deal a year or is a capping agent.
Simple. Introduce eXp Realty to other agents that you know in any country eXp is open by sending them to JoinGlobalRealtyTeam.com.
United States:
If they join, you become their sponsor and you will receive 3.5% of their commission up to $2,800 annually if they cap. You will also get revenue share from whomever they recruit all the way down to 7 levels.
See above for what you earn on the 2nd-7th levels.
eXp Realty believes that the value proposition of the broker to the agent should be so good that it would be irresponsible for an agent to hang their license anywhere else. Supporting that belief is the extremely low cost of startup and monthly fees for all the value gained with eXp.
The initial startup is $149, which includes 1,000 business cards. After this, the monthly fee is $85 and includes your tech and education.
The split is 80/20 with a $16,000 cap. That equates to generating $80,000 in gross commission. After an agent-caps, they go to 100% with a $250 transaction fee. This transaction fee is then reduced to $75/transaction after paying $5,000 in transaction fees.
In addition to the above fees, the agent pays $40/transaction for risk management (which caps at $500/yr) and $25/transaction for broker review.
eXp Realty agents have the opportunity to earn company stock in multiple ways.
First off, an agent can elect to take advantage of eXp Realty's direct purchase plan. This is an optional program that allows agents to have 5% of their gross commissions automatically deducted to purchase eXp stock at a 10% discount to what the stock is being publicly traded at.
Next, agents can also be awarded free shares of eXp Realty stock for doing things they would normally in real estate anyways. For example, when an agent closes their first deal, caps, or attracts someone into the company and that agent closes their first deal. This stock, that is given to agents for free, is vested for 3 years. This means the agent needs to stay with eXp Realty for 3 years from the time they are awarded the stock.
Finally, the ICON agent program awards agents who reach their commission cap and do another $5,000 in transaction fees to eXp in the same year their $16,000 that they paid into their commission cap back in the form of eXp stock. An agent hits their commission cap of $16,000 by earning $80,000 in gross commission in one year. 20% of that goes to eXp equaling $16,000. After that time, the agent earns 100% minus a $250 transaction fee. If the agent does another 20 deals at a $250 transaction fee equaling $5,000 they are now eligible to receive their ICON status and stock award. With an average commission amount of around $6,000, an agent would expect to become ICON around 32 transactions within one year.
The cloud campus, also known as “eXp World” is our virtual world where agents and staff meet on the web for training, collaboration, meetings, and support.
eXp Realty offers a full array of training offered every week. Currently over 50 hours a week. Learn from industry experts and top producers about:
- Sales and listings
- Lead generation
- Social media
- CRM & technology tools
All of our meetings are held in the eXp Cloud Campus. We have everything from a large auditorium to small intimate spaces to meet clients.
Yes, eXpCon is our annual conference held in different cities. Past conferences were held in Las Vegas, Chicago, and San Antonio. We also have annual ownership meetings for stockholders.
eXp Realty offers a wide array of tools for agents that varies base on the country.
Unites States tools:
- A free Commission Inc website
- A free kvCORE IDX Website + Contact Management System*
- A free eXp Agent Attraction Website for recruiting
- A free Hello Fax Number
- Free eXp branded Google Apps for work, email, storage, YouTube, and Google Meet
- eXp World Cloud Campus
- Regus Worldwide Membership
- Skyslope Transaction Management Platform
* At eXp Realty, all US agents are given access to a massive lead generation platform called kvCORE (Formerly called Kunversion). kvCORE is an all-in-one solution that gives agents their own lead generating website and back-end CRM database. Used together, this system helps agents generate leads from a variety of sources both online and with traditional methods.
The front-end website looks amazing and is very informative to potential leads and clients. Users can create an account that will let them save properties and searches so they may be alerted to changes. Also, you'll have access to see all the properties that they are looking at, saving, and which searches they are interested in.
The powerful CRM system allows agents to manage an extremely large database of leads without ever dropping the ball on communication. Some of the features of the KV Core CRM include smart email drip campaigns, texting straight out of the system, and the ability to create landing and squeeze pages to support lead generation by even the least tech-savvy of agents.
Agents are supported by over 500 US and Canada based support staff 11 hours a day within our cloud office. Staff ranges from transaction management, agent concierge, tech support, accounting, HR, team support, onboarding support, plus many other departments
eXp Realty has a whole division that offers tech support. Need help with eXp email? Questions about your website? Wondering how to use Google apps? We have you covered. Live tech support is located in the eXp Cloud Campus.
There are many tools eXp gives to agents to collaborate, share referrals, and help one another. Workplace by Facebook is one of the most widely used by eXp agents.
This community looks and feels like regular Facebook, however, it's only eXp agents, leadership, and staff that have access. In here you'll find groups, referral networks, and a directory of everyone within the company that you can message within a moments notice. Just as Facebook has made the world feel a bit smaller, Workplace by Facebook makes a large company, like eXp, feel comfortable.
In addition to Workplace, agents collaborate in our cloud office and at corporate events like EXPCON and our annual Shareholder's Summit.
At eXp Realty, all agents have an enterprise dashboard that shows current and closed transaction details, cap and fees paid to date, and revenue share and stock earned. You'll know exactly where you stand related to your cap, how much income you've earned for the month and year, and how many agents have joined your revenue sharing organization.
Your sponsor at eXp doesn't need to be local or even in your same state or country. Your sponsor and your broker are two separate people (in most cases). All states and provinces have their own broker whom you'll be licensed under to do business.
Your sponsor is who most influenced your decision to join eXp Realty and who you believe will align with your goals and support your efforts the most.
eXp provides a learning platform to newly licensed agents. The eXpand Mentoring Program provides newly licensed agents a learning platform where they will gain the fundamental knowledge required to start and build a successful real estate career. Each mentee is paired with a certified eXp mentor who is a member of the same local geographic area.
Individual agents, teams and independent brokerages of all sizes are joining eXp.