eXp Realty Explained In Under Ten Minutes – Why eXp?!
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.
Below you can either listen to the podcast or watch the full video.
Here is the podcast:
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.
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…
600+ 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
eXp Realty Workplace
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.
Here is the full video:
Unknown Speaker 0:00
Welcome to XP Realty, the largest residential brokerage by geography in North America with 10s of thousands of agents across the entire US plus Canada. We're one of the fastest growing real estate brokerage firms and are happy to share our story. XP realty is agent success obsessed. As a full service brokerage. We work every day to help our agents be successful as they work with clients to help make their dreams come true. XP realty is revolutionary virtual office business model does away with the added cost of a traditional brick and mortar brokerage. This means no desk fees, no franchise fees and no royalty fees. You keep 80 to 100% of your commissions and enjoy a low company cap. Wow,
Unknown Speaker 0:48
first me an agent for the first time and wanted to tell them about the XP. It's a completely different model than anything else out there. I love it as an experienced agent because I have access to so much stuff Mine, I don't have to drive to an office anymore. There's just a lot more tools available than most traditional brokerages
Unknown Speaker 1:06
XP realty has been recognized for its innovative cloud platform. Just as many services such as video, retail stores and taxis have given away to companies like Netflix, Amazon and Uber. XP realty has grown quickly, understanding that today's real estate agent doesn't need to be weighed down with the expensive brick and mortar locations.
Unknown Speaker 1:28
I think, you know, part of the whole experience of being with the XP is sort of having a willingness to try things that might improve your business right not being afraid to go and look at what the next best tool is, what the next best product is not being afraid to embrace new technologies. I mean, the fact that we operate and live and work and relate to each other in the way that we do and that we've done it that way for so long. I think it's been a galvanizing force for every single agent, every single staff member, every single broker in the company. And so I think, you know, the key thing really is to get into the world and get to know people.
Unknown Speaker 2:03
The growth of the XP realty has been remarkable. Founded in 2009 by real estate agent and visionary Glenn Sanford ESP world holdings became a publicly traded company in 2013. In 2015, with 650 agents, ESP realty launched its agent equity program, an icon agent award, and just two years later have expanded into 47 states and two provinces with more than 6500 agents. In 2018, ESP world holdings proudly joined the NASDAQ stock exchange. And today we have 10s of thousands of agents continue to expand internationally and have been recognized for the efforts of our agents and our culture. I think one of the best things for me in terms of core values is it provides alignment for our staff as well as our agent community. It's Think of it as we're all kind of pulling the oars the same way. It helps us decide if we're all a fit for each other. It allows us to be diverse while still having a fit and kind of common goals and a common way to talk to each other. XP realty is taking collaboration to the next level through it's one of a kind cloud office environment, say goodbye to Office commutes and waiting for support in XP world agents brokers and the XP realty staff work together at any time or any place in real time. Agents enjoy dedicated brokerage support in areas including onboarding, Team Services, accounting and payment processing. But even more than that, XP world provides an opportunity for agents to connect and help each other. And through E XP University. We offer more than 40 hours of live training each week. XP world also makes international collaboration that much easier as agents can easily reach out across the US, Canada, the UK and Australia.
Unknown Speaker 3:56
Where else do you get to create an avatar, login to a cloud platform and go to a meeting with other agents from all over the world. I mean, it's pretty phenomenal and it's super easy to use.
Unknown Speaker 4:10
XP also has a vibrant community of agents and staff engaging 24 seven on workplace by Facebook. XP realty provides updates each day to make sure our agents are in the know and agents share valuable feedback with the company and each other. XP enterprise is our proprietary technology that gives agents autonomy and visibility into metrics and business intelligence that's crucial to their needs. agents can easily Review Commission and cap status, get real time performance reports and stay up to date on their company equity awards. Using sky slope agents manage their transactions from beginning to close, totally paperless with the ability to sign documents digitally. ESP also provides powerful lead generation and CRM tools at no additional cost. When it comes to marketing and branding, we provide hundreds of templates and videos to help you market and brand your business in the flexible way that makes sense for your market and needs. So with agent branding,
Unknown Speaker 5:13
you can have the best of both worlds. Some people don't want to be the forefront of what they're doing. They want the comfort of having a strong brand, with a national brokerage with the largest area coverage of any other brokerage in the country. And that that gives them the confidence to put themselves in front of their clients. Other folks have been in the business long enough and have individual branding that they want to be the forefront. And I love that we support both of those. We're as agent centric as any company that I've ever seen. And we've always taken the greatest advantage of what's allowable in each state. And so when an agent has matured enough in the business that they realize that people do business with them because of them and The brand they're fully supported in that here
Unknown Speaker 6:02
at E x. Production matters of the XP. We're proud to be recognized as a top ranked residential real estate brokerage agents join the XP realty because we're an agent obsessed, full service international brokerage with an innovative business model technology and commitment to our core values. Being agent obsessed also means making sure our agents can prosper in today's fast moving world. Simply put, there are no desk fees no royalty fees that no franchise fees. The fees we do have are tied to our core value of sustainability and making sure our agents have the ability to grow with a company with a long term vision. Best of all, agents can become shareholders with the XP world holdings in multiple ways. With our sustainable Equity Plan. Agents earn awarded shares on their first transaction shares when they cap and shares when an agent they sponsor closes their first transaction. Our icon agent award program provides stock for certain production and cultural goals. And agents have the opportunity to enroll in an agent equity program.
Unknown Speaker 7:08
So the importance of being a productive agent and ESP would be that we're rewarded beyond what we just collect in our commissions and our fees. And that's something that's different. There's not any other company that I'm aware of that does that. And so, yeah, again, that's one of those those things that this opportunity with the XP is different and there's never really, there's never been an offer like this to realtors that I've ever been aware of and almost 30 years.
Unknown Speaker 7:37
There's one more important way agents benefit for being part of the XP Realty. Through a revenue share plan. Our agents receive revenue share income from the sales activity of productive agents they sponsor into the company. Agents earned based on the adjusted gross commission income from the sales transactions closed by personally sponsored agents and productive agents in their overall group. The adjusted gross income is calculated each month so he XP realty pays out 50% to his agents and the company retains 50% Why does he XP realty provide both a way for agents to become shareholders and receive revenue through a one of a kind revenue share plan. Whether you are just starting out in real estate or see retirement ahead. The opportunity to receive income in multiple ways is just one more thing that makes the XP realty special.
Unknown Speaker 8:28
I was meeting an agent that was learning about the XP for the first time I would tell them this is as close as you're going to get to owning your own business, while still having all of the support and assistance of a team and a brokerage
Unknown Speaker 8:43
XP realty through our business model technology, training, core values, and so much more is revolutionising the real estate industry. Talk to your sponsor or apply today.