eXp Explained: Exactly How It Works

What are the costs of joining eXp Realty?

Solo agents or Team Leaders

Solo agents or Team Leaders have an annual cap of $16,000 which restarts on your anniversary date. This means that you pay eXp 20% of each commission check until you pay the $16,000 for the year.

Team Members

Your cap is reduced to $8,000 if you are part of a regular team or $4,000 if you are part of a mega team. Ask your team leader which cap will apply in your case.

Every one is subject to the 80/20 split.

After you cap

Once your annual cap is met, you only pay $250/transaction, this has a cap of $5,000 per year. Once your $5,000 cap is paid, you only $75/transaction for the rest of the anniversary year. Once your $5,000 cap is paid, you’re eligible for Icon Agent!

Icon Agent

Another perk about being an eXp agent is gaining Icon status. You gain Icon status once you have met your $16,000 cap and $5,000 cap for transactions (approximately 20 more transactions) within your anniversary year

Gaining Icon status is a benefit because you're eligible to receive all $16,000 back in eXp stock! I’ve earned my cap back every year since joining eXp! In reality, eXp has paid me back the split I have paid them.

What are the various revenue streams available to eXp agents?

1. Transactions: Just like you are doing now, continue to sell real estate and earn your hard earned commission!

2. Referrals: eXp has built an amazing agent to agent referral system. This system makes it super easy to find and assign referrals to agents in other markets. We also have several referral pages in our Workplace groups that are specifically geared towards agent to agent referral wants and needs. Referrals also count towards your cap!

3. RevShare: Once you make a move, your colleagues in the business might want to join you. If they join, you will start earning a portion of every sale they close, until they cap. Keep in mind, that rev share comes from eXp, NOT the agent. The opportunities here are endless.

4. Stocks: eXp is a publicly-traded company, and once you start earning stocks you become an owner in eXp. How awesome is that? Stocks are awarded at various stages of your production and also from agents you attract to the company. You are also given the option of purchasing stocks at a discount. I look at this as an automatic savings plan.

5. Health Insurance: not a revenue stream, but it can be a life saver. Let’s face it, many of us are self-employed and paying a small fortune for basic health insurance. This added bonus is much needed relief for those that need it.

What kind of support & training do you offer agents?

You get benefits such as regular check ins to see how your business is doing, you get access to the endless amounts of SOP’s in the FFM Facebook group, you get access to in office training with me and other eXp agents (if you live in AZ), along with everything that Fast Forward Movement, eXp national and eXp state offers. If you are a new agent, eXp will assign you a mentor if you are not part of a team. Our eXp brokers are knowledgeable and overall fantastic to work with. eXp offers approximately 50 different training sessions a week. Everything from local contract training, to new agent training, and training from top-producing agents on how they built their business. The collaboration is second to NONE. You get so much value in eXp and FFM training for free, that some agents have opted out of their paid coaching programs.

A recap of the numbers

80/20 commission split

• $16,000 company cap, then $250 transaction fee (this will eventually drop to $75/file once you pay the $5,000 cap)

• $149 start up fee (includes first month Cloud Brokerage fee)

• $85/mo Cloud Brokerage fee (this includes your own KV Core transaction management system)

• $40 risk management fee (E&O) with $500 annual cap (may vary by state)

• $25 broker review per transaction

Now that I’ve told you how it works at eXp Realty, you might be wondering if you have to join my team?

NO, you don’t. We are business partners whether you are on my team or not. Here are the ways we can work together:

• Join as a new agent. You will be assigned a mentor through eXp Realty. You will also have me and my operations manager as a resource for additional training, guidance and support.

• Join as a solo agent. You run your own business the way you have been, just be ready to become efficient once you are here. You have me as a mentor and resource for taking your business to the next level.

• Join as a domestic partnership: You will run that partnership however you see fit and you will also have my support as a mentor and resource for anything you may need.

• Join as a team leader. You will run your team however you want and benefit from learning from other team leaders in our FFM family.

• Join as a team member under a different team. You still have your teams leadership, but anything I give them access to you get access to as well. This can be anything from training, to coaching, to event invites and more.

• Join as a team member of Porchlight Arizona. You will have a reduced cap of $8,000 vs $16,000 along with all the things that we provide to our team. Message me for that separately.