eXp Realty is sweeping the nation 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.
What We’ll Cover In Today’s Article:
- kvCORE Website & CRM
- eXp Realty Training
- eXp Realty Support
- Collaboration at eXp Realty
- eXp Realty Stock Award Program
- eXp Realty Revenue Share
- eXp Realty Commission Split and Fees
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.
kvCORE Website & CRM
At eXp Realty, all agents are given access to a massive lead generation platform called KV Core (Formerly called Kunversion). KV Core 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.
eXp Realty Training
eXp Realty offers over 50+ hours of LIVE training every week. This training can be accessed anywhere you have internet access via our cloud campus. Training ranges from lead generation, contract training by state, scripts and dialogues, social media management, video and blogging, and much more…
500+ eXp Realty Support Staff
Agents are supported by over 600 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…
Collaboration At eXp Realty
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. Here you’ll find groups, referral networks, and a directory of everyone within the company that you can message within a moment’s notice.
eXp Realty gives real estate agents the opportunity to earn additional income streams. The first additional income stream is Revenue Sharing.
Revenue Sharing 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.
eXp Realty Stock
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 20% discount to what the stock is being publicly traded at.
Next, agents can also be awarded free shares of eXp 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.
For agents doing around 30-40 units or $500k in GCI you’ll want to learn more about the ICON Agent stock award.
eXp Realty Fees And Commission Splits
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 1000 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. 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.
To check out some other great real estate companies, take a look at my post on the best real estate companies to work for.