eXp Commercial: Everything You Need To Know Before Joining

Talking with hundreds of commercial real estate agents over the last couple of years, I’ve found that many feel today’s commercial real estate brokerages lack the newest technology and training to help agents earn more. These two issues led eXp Commercial to break away from being merely a subsegment of eXp Realty to becoming its own company on November 1st, 2020.

Today, eXp Commercial is completely redesigned to provide commercial real estate agents with the best tools, training, and support to move agents and the industry forward, all at a competitive commission split and fee structure.

In today’s post, I’ll detail exactly what is included in eXp Commercial and how you can start immediately!

Market Data and Lead Generation Technology

Regarding technology, eXp Realty has already demonstrated that it’s at the leading edge in the residential space.  Offer agents the best in CRM, transaction management, support, and training.  eXp World Holdings (EXPI), the parent company of eXp Commercial, took the same approach when it developed the lineup of tools and technology offered to its agents.

Buildout

One of the major tools eXp Commercial provides to its agents is Buildout.

Buildout is software exclusive to commercial real estate designed to help commercial agents with marketing, database management, pipeline reporting, and back-office tools.  It touches nearly every aspect of your deal, allowing you to scale your business quicker and with automation.

With Buildout, you can create proposals directly from your database, generate website leads automatically added to your database, and generate comps from closed listings.  By connecting your database and back office to Buildout’s marketing automation, you’ll spend less time and be more plugged in with exactly what’s going on in your business and the business around you.

Whether you’re an individual agent or have a team, you can keep your database and projects private or share and collaborate at certain stages, like after a listing agreement is signed. Additionally, you can prospect more efficiently by utilizing call lists developed by Buildout, assign or share leads, and deals with teammates with full transparency.

Reonomy

Another powerful tool eXp Commercial provides to its agents is called Reonomy.

Utilizing AI technology, Reonomy is designed to help commercial agents identify new lead opportunities through the power of big data.  Reonomy provides commercial agents with market activity and property owner information, increasing your leads and speeding up prospecting.

With Reonomy, you can search properties and owners by property type, building size, lot size, sales history, debt history, owner name, owner address, and more.

Not only will you find more leads, but you’ll also be able to quickly become the market expert by leveraging all the data available in Reonomy.

50+ Hours of Live Weekly Training

eXp Commercial is committed to providing top-level training to commercial agents.  Whether new or seasoned in commercial real estate, you’ll find value in eXp Commercial’s 50+ Hours of live training every week.  Training is held by top agents from across the US and globally.

Every week eXp Commercial posts a new training calendar for the week ahead.  No matter your niche, you’ll always be able to find something that can help take your business to the next level.

When you attend a training, you’ll be able to raise your hand, ask questions, and chat with all the attendees who attend live anywhere across the world.

eXp Commercial Apprentice Program

Any new commercial agent who has not completed at least three commercial transactions in the prior 24 months of joining eXp Commercial will be enrolled in the apprentice program.

Apprentice eXp Agent agrees to compensate the Advisor 50% of the Apprentice eXp Agent’s first three closed commercial transactions paid out of Gross Commission Income (GCI).

The purpose of the Apprentice Program is to help less experienced agents learn the fundamentals of starting and building a successful real estate career in Commercial Real Estate. Helping the Apprentice to meet the production requirements to graduate from the Apprentice Program.

eXp Commercial agents earning over $100,000 in annual income can apply to become an advisor for their market.

Virtual Office Space

One of the biggest misconceptions about eXp Commercial is that there is no office to receive support from.  On the contrary, eXp Commercial features one of the most sophisticated virtual offices with over 600 paid employees who can assist you in real time.

Whether you need transaction management, tech, accounting, or brokerage support, eXp World is available 24/7/365 and staffed 11 hours a day, five days a week.  All you have to do is open eXp World, a computer program that downloads to your Mac or PC, and within seconds you’re speaking with exactly the person you need. All without ever leaving your house and from anywhere in the world!

If you’d like a guest pass to experience eXp World for two weeks, fill out the form here.

Multiple Streams of Income

One of the biggest benefits to commercial agents considering joining eXp Realty is the opportunity to generate multiple income streams while selling and leasing more commercial transactions. eXp Commercial offers all agents the ability to “build a business within a business” and leverage the eXp platform to earn residual income and equity ownership in eXp World Holdings, the parent company of eXp Commercial, Realty, Virbela, and Success.

Equity Ownership

eXp World Holdings (Nasdaq: EXPI) is a publicly traded company.  Agents at eXp Commercial can acquire stock awards in multiple ways through their production within the brokerage.

How an agent acquires stock awards are as follows:

• Closing your first transaction each year
• Hitting your production cap of $20,000 paid into eXp Commercial (More on this later).
• Sponsoring an agent who closes a deal
• ICON Award (Receive your entire cap back in stock awards)
• 10% Discount Program (Optional) – Allocate 5% of your commission towards EXPI stock and receive a 10% discount on whatever the stock is publicly traded.

Revenue Share

Revenue sharing is eXp Commercial rewarding agents who are helping to bring productive agents into the company.  eXp gives back 50% of the 20% commission split in the form of revenue share to the agents who sponsor other agents.  You can earn up to $2,800 annually for any agents you sponsor into the brokerage!

Additionally, as the agents you bring in to eXp sponsor other agents, you’ll also receive benefits from their agents, paid seven generations down.

There is no limit to the amount agents you can sponsor or earn from the program.  Additionally, you can sponsor residential and global agents anywhere eXp operates!  Check out my full post on eXp’s Revenue Share program for more information.

eXp Commercial Commission Split and Fees

Ok, so how much does all of this cost?  What if I were to tell you that it’s likely less than you’re currently paying?!  That’s the reaction I get as I talk to commercial agents almost daily!

The commission split and fee structure are straightforward at eXp Commercial.  Additionally, it’s the same for all agents, regardless of tenure or production levels.

The start-up fee for all eXp Commercial agents is $250.

All agents are on an 80/20 split with a $20,000 commission cap.  This means that once you’ve done $100,000 in gross commissions for the year and paid 20% of that to eXp ($20,000), you are now at 100% commission for the remainder of the year.  So whether you’re doing $100,000 in commissions per year or $1,000,000 or more, you’ll only pay $20,000 to eXp Commercial in commission split!

In addition to the low split and cap, you’ll only pay $250/month for all the tools, training, and support that eXp Commercial offers.  This includes Reonomy National Access, Buildout Elite CRM, eXp’s Marketing Center, Listing Syndication, Skyslope Transaction Management, and the Cloud Brokerage.

Sale Transactions

All Sale Transactions are subject to the following fees/deductions:

• Company Share of 20% or Capped Transaction Fee*
• Broker Review Fee, Risk Management Fee
• Mentor Fee (if applicable)
• 5% Equity Stock (if opted into the program)

*If the commission is less than $1,500, a capped transaction fee will be assessed as 20% rather than $250, and no broker review fee. The risk management fee will be $40 rather than $350.

Lease/Rental Transactions

All Lease/Rental Transactions are subject to the following fees/deductions:

• Company Share of 20% or Capped Transaction Fee*
• Risk Management Fee (if the commission is over $1,500)
• 5% Equity Stock (if opted into the program)

*If the commission is less than $1,500, a capped transaction fee will be assessed as 20% of the commission rather than $250.

Referral Transactions

All Referral Transactions are subject to the following fees/deductions:

Company Share of 20% or Capped Transaction Fee*

5% Equity Stock (if opted into the program)

*If the commission is less than $1,500, a capped transaction fee will be assessed as 20% of the commission rather than $250.

BPO Transactions

All BPO Transactions are subject to the following fees/deductions:

• Company Share of 20% or Capped Transaction Fee*
• 5% Equity Stock (if opted into the program)

*If the commission is less than $1,500, a capped transaction fee will be assessed as 20% of the commission rather than $250.

Finally, once you’ve paid your $20,000 in commission split to eXp Commercial, you’ll transition to a $250 capped transaction fee.  Once you’ve paid $5,000 in capped transaction fees and achieved over $500,000 in gross commission income, you’ll be eligible for ICON agent status and receive up to your total $20,000 cap back in the form of EXPI stock.  See my post here for more details on the eXp ICON Agent Program.

eXp Commercial Active States

eXp Commercial is currently available in 39 states.  We are not in Alaska, Hawaii, New Mexico, Nevada, Wyoming, Nebraska, Minnesota, Arkansas, Delaware, Massachusetts, or Vermont

Frequently Asked Questions

eXp Commercial is a separate entity owned by eXp World Holdings.

eXp Commercial is NOT affiliated with the National Association of Realtors.  Therefore will not be members of National, State, or Local Realtor Boards. Do NOT join MLS or the Board of Realtors.  Non-Realtor MLSs can be joined with permission.

CCIMs are required to be members of NAR as affiliate members.

Does eXp Commercial have brokers?  Who would be my broker?  

eXp Commercial has brokers in every state that we operate in.  You would work with the designated managing broker of your state.

Is eXp Commercial international?  It is coming soon!

Can I affiliate with both Realty and Commercial?  Only if your state permits licensees to affiliate with more than one brokerage. Please see your state licensing regulations for this answer.  If the answer is yes, we would love for you to join both.

When does an agent receive the Buildout and Reonomy Access?  Once the agent has transferred his/her license to exp Commercial, signed the ICA, and confirmed in the join application, within 48 hours, the agent will receive logins.

Can eXp Commercial agents brand themselves?  Absolutely, but please refer to your state advertising guidelines to comply.

Can eXp Commercial Agents sell in all 50 States?  You must have a license to sell in each of the states that you want to sell. However, many states allow Co-Brokering where the eXp Commercial Designated Managing Broker can sponsor your license on a transaction.  It is, of course, better to find a local eXp Commercial Agent to Refer the transaction to. Please pay strict attention to State license portability laws.

Can an eXp Commercial agent co-broker with an outside firm? The answer is No, due to legal liability issues between E & O carriers.  We recommend the eXp Commercial agent take the listing and pay the external co-agent a referral fee, or vice versa.

Next Steps with eXp Commercial

If you’re interested in learning more about eXp Commercial or how you can partner with me and get started today, head to my Join eXp Realty page and click “Join eXp Today” to fill out a short form.  This form will take you to my Zoom calendar, where you can set up a time to meet with me, ask further questions, and apply to eXp Commercial today!