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Joining Exp Realty
If you’re a real estate agent who’s looking for an opportunity to take your business to the next level, then you should consider joining eXp Realty. In just a few short years, eXp has become one of the top real estate companies in the world, and agents who join are able to take advantage of all the resources and support that the company has to offer. If you’re thinking about making the jump in 2024, here are a few things you need to know to make sure you’re successful right away.
Who Is EXp Realty
The Evolution Of EXp Realty: From Agent Success Mission To Global Real Estate Powerhouse
eXp Realty is a real estate brokerage company operating under the umbrella of eXp World Holdings Inc. Founded in 2009 by Glenn Sanford, its mission was to establish a firm dedicated to agent success. eXp Realty stands out as the pioneer in the concept of an agent-owned cloud brokerage.
Over time, eXp World Holdings has evolved into one of the world’s largest and most prosperous real estate enterprises, boasting a network of over 70,000 agents.
The company extends a comprehensive array of support and resources to its agents, encompassing training initiatives, marketing tools, and a digital marketplace for real estate transactions. Additionally, eXp Realty maintains a cadre of seasoned brokers ready to assist agents with their specific needs.
Since its inception, eXp Realty has remained steadfast in its commitment to furnish agents with the essential tools and resources essential for their success in the real estate industry. This encompasses access to training programs, cost-effective marketing materials, and a host of other benefits.
How To Join EXp Realty
If you’re interested in joining eXp Realty, there are a few things you need to know. First, you must be a licensed real estate agent in order to join. Second, you must agree to the company’s terms and conditions.
Once you meet these requirements, you can join eXp Realty by following these simple steps:
- Go to the company’s website and click on the “Apply As An Agent” button.
- Fill out the form and click on the “Submit” button.
- Review the Independent Contractor Agreement, name Your Sponsoring Agent, then submit.
- Wait for an email from your state broker with further instructions on how to move your license over for your state. This process differs state-to-state.
- Request your license to be transitioned to eXp Realty by your state licensing board.
Upon becoming a part of eXp Realty, you will receive comprehensive support and resources tailored to ensure your success in the real estate field. This includes access to training programs, dedicated support personnel, marketing materials, lead generation tools, and transaction management solutions.
The Advantages Of Joining EXp Realty
In the realm of real estate, eXp Realty stands out as a premier company. With a steadfast commitment to agent prosperity, this brokerage offers a plethora of resources and assistance that agents can leverage to advance their businesses.
Here are some of the perks of joining eXp Realty:
Training
eXp Realty presents an extensive training program tailored to equip agents with the knowledge and skills necessary to thrive in the real estate arena. This program covers everything from understanding the intricacies of the real estate market to mastering the nuances of social media. Whether you’re a newcomer or a seasoned professional, eXp Realty’s comprehensive weekly training sessions cater to your needs.
Support
eXp Realty has garnered a well-deserved reputation for its robust support structure for agents. The following forms of support are among the resources provided by eXp Realty:
- Training
- Marketing
- Technology
- Lead generation
- Transaction management
- Closing gifts
Each of these resources is meticulously crafted to empower agents on their path to success. With eXp Realty, you can rest assured that you’re receiving top-tier support.
Commission Splits & Fees
Every agent at eXp Realty has a split of 80/20 until the cap is met.
Certainly, eXp agents hit the cap when their payments to the company reach $16,000. If you earn more than $80,000 in gross commission (GCI), you should attain your commission cap each year. Reduced caps are an option for eXp teams.
No, you don’t. You only need to pay $85 per month to our national brokerage.
No, there are none. Zero fees.
Yes, they do. It’s just $40 per transaction, with a maximum of $500 annually.
There are no royalty or franchise fees. We are a nationally owned brokerage, so there are no franchises, which can result in substantial cost savings for many agents each year.
Technology
eXp Realty equips its agents with two core technological systems: kvCORE and Skyslope.
kvCORE serves as eXp Realty’s advanced technology platform, delivering an array of features and advantages for agents. Some of its notable features include:
- A customer relationship management (CRM) system.
- A lead management system.
- A transaction management system.
- A marketing automation system.
- A real estate agent website.
Skyslope, on the other hand, is a robust transaction management system designed to help agents streamline their transaction processes. It offers a variety of functionalities, such as:
- A transaction dashboard.
- Transaction timelines.
- Email and text notifications.
- Custom document templates.
- Automated document generation.
If you seek a company that provides access to state-of-the-art technology, consider joining eXp Realty today!
Education & Training
What is the concept of the cloud-based campus or virtual office?
At eXp, agents are presented with various training opportunities. Notably, more than 60 hours of training are conducted every week within our virtual office, known as eXpWorld. This virtual environment allows you to access it via your smartphone or computer, where you can utilize an avatar to navigate the virtual campus. This is also where you can engage in interactive learning sessions with agents hailing from different regions across the nation. And there’s more! We haven’t even told you about our special private Facebook group, where we get together with our partners, Legit Agents (Will Grimes & Eli Schmidt in our upline) for live training sessions every week.
EXp World
eXp Realty’s virtual campus, known as eXp World, serves as a daily gathering place for thousands of agents. It’s where agents come together to participate in live training sessions, receive real-time support from over 20 departments, and connect with fellow agents from around the globe.
eXp World is accessible 24/7, ensuring it’s always open and ready to assist you, 365 days a year. With staff available for over 11 hours a day from Monday to Friday, agents have access to support whenever they require it. Whether you encounter challenges with leads or need assistance with marketing, eXp World has your needs covered.
Revenue Share
eXp Realty distinguishes itself by having minimal overhead compared to typical brokerages. As a result, they can distribute half of the 20% commission split with agents who contribute to the company’s growth.
eXp Realty presents an innovative revenue share program designed to empower agents in expanding their businesses. Through this initiative, agents can earn commissions based on the transactions of agents they sponsor into the brokerage.
Here are some of the advantages of eXp Realty’s revenue share program:
- Commission on Transactions.
- No Minimum Quota or Sales Volume Requirements.
- No Annual Fees.
The revenue sharing program is strategically crafted to assist agents in business growth and income enhancement. At eXp Realty, the potential for achievement knows no bounds.
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.
For each real estate agent you personally bring into eXp, you have the opportunity to receive up to $2,800 annually. If your recruited agents, in turn, introduce more agents, you’ll also earn a percentage of their sales.
No, the decision is entirely yours!
Joining eXp Realty means you receive a portion of the gross commission generated by the agents you introduce to the company, as well as agents within your seven levels of the revenue share group. For instance, if one of your recruits sells a $500,000 home, you’ll earn 3.5% of the $15,000 commission earned ($525).
For every real estate agent you personally bring into eXp Realty, you can potentially earn up to $2,800 per year. Your revenue share network extends seven levels deep, allowing you to earn between 0.2% and 5% of what those agents generate. In essence, there is no limit to the amount of revenue share you can accumulate at eXp Realty!
On the 22nd of each month, you will receive the revenue share generated in the previous month. For instance, if the agents in your revenue share group generated $50,000 in gross commissions in January, you’ll receive a revenue share payment of approximately $1,750 ($50,000 x 3.5%) in your bank account on February 22.
eXp Realty has developed a system called Enterprise, which provides you with a real-time view of all your earnings. This includes your sales data, stock awards, and revenue share for the upcoming month. Many agents check Enterprise every few days to monitor the growth of their revenue share and gain insight into what they can expect to receive on the 22nd of each month.
Comparing Revenue Sharing and Keller Williams’ Profit-Sharing: A New Perspective on Residual Income
Many agents draw comparisons between revenue sharing and Keller Williams’ profit-sharing program, which has been in existence for the past two decades. However, in revenue sharing, agents receive commissions upfront, as opposed to after expenses, resulting in substantially higher residual income for those who participate.
EXP Stock
eXp stock is traded on NASDAQ
(ticker symbol: EXPI)
One of the distinctive features of eXp Realty is its stock awards program, allowing agents to possess a stake in the brokerage and reap the rewards of its growth. Here are some of the benefits of owning eXp Realty stock:
- Ownership in a Rapidly Expanding Company.
- Dividends.
- Potential for Capital Gains.
eXp Realty provides a stock purchase plan that enables agents to allocate 5% of their commission earnings to buy the company’s stock at a discounted rate of 10%. If you wish to purchase stock independently, you can establish a brokerage account. TD Ameritrade and E*Trade are popular choices among real estate agents, but there are numerous other brokerage options available. It’s advisable to seek recommendations from friends and family to identify the most suitable brokerage account for your specific needs.
Upon successfully closing your first home sale, you receive stock awards from the company. Additionally, agents receive stock awards when they reach their commission cap, introduce a new agent to the company who completes a real estate transaction, or attain the status of an eXp ICON agent. The most prestigious award is the ICON Agent stock award, where top-producing agents receive up to $16,000 worth of stock annually as part of their ICON recognition.
The majority of stock awards granted to agents become vested after a period of three (3) years. For instance, if you received a stock award for reaching your commission cap in January 2023, you would be eligible to cash it out or transfer it to your personal brokerage account in 2026.
With eXp Realty, you have the opportunity to hold a stake in the real estate market and share in the company’s accomplishments. eXp Realty is renowned for being one of the most comprehensive real estate companies available, providing agents with all the essential tools they need to succeed.
Joining eXp Realty offers an agent commission structure (eXp-lained by Jesse Dau in our upline) that outperforms its competitors in the real estate industry. Additionally, the fee structure is transparent and affordable, with no desk fees or royalty charges. eXp Realty aims to enable its agents to focus on their businesses without the burden of complex fees.
All agents are subject to a monthly fee of $85 and receive an 80/20 commission split. There is an annual commission cap of $16,000, meaning that once an agent has contributed $16,000 in commission split to eXp Realty, they retain 100% of their commissions for the remainder of the year.
How It Works For Agents And Brokers Alike
The Operational Process For Both Agents And Brokers
eXp Realty is a real estate brokerage committed to facilitating the success of real estate agents and brokers in their professional journeys. We provide an extensive array of assistance and assets that agents and brokers can leverage, including:
- A comprehensive online training academy.
- Access to accomplished agents and brokers.
- A robust set of marketing tools.
- The opportunity to become part of a nationwide network of agents and brokers.
Conclusion
eXp Realty is a brokerage dedicated to helping real estate agents and brokers succeed. If you join, you will have access to top-producing agents who can help make your business grow– not just for today but also in the future.
Join eXp Realty now so we can work together on achieving success in your real estate business. If you haven’t picked a sponsor for your eXp membership yet, just schedule a chat with us below. Let’s talk about partnering and leveling up your business!
Are YOU Ready To Break Free From The Daily Realtor Grind?
We’re here to offer you personalized one-on-one support for your business with the goal of helping you double your leads and triple your income in the next 12 months. And we’ll do all of this while establishing multiple, dependable income streams.
