eXp Realty – The #1 Agent-Owned Cloud Brokerage
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.
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.
KV Core (Kunversion)
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.
The powerful CRM system allows agents to manage an extremely large database of leads without ever dropping the ball on communication. Some of the features of the KV Core CRM include smart email drip campaigns, texting straight out of the system, and the ability to create landing and squeeze pages to support lead generation by even the least tech-savvy of agents.
30+ Hours of Live Real Estate Training Per Week
eXp Realty offers over 30+ 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…
Training classes are taught by ICON agents from all over the country. ICON agents the best eXp agents, associate brokers, and team leaders that have reached a certain production requirement. The quality of training that exists within eXp is like no other company out there!
400+ eXp Realty Support Staff
Agents are supported by over 400 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…
At eXp Realty, all agents have an enterprise dashboard that shows current and closed transaction details, cap and fees paid to date, and revenue share and stock earned. You’ll know exactly where you stand related to your cap, how much income you’ve earned for the month and year, and how many agents have joined your revenue sharing organization.
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. In here you’ll find groups, referral networks, and a directory of everyone within the company that you can message within a moments notice. Just as Facebook has made the world feel a bit smaller, Workplace by Facebook makes a large company, like eXp, feel comfortable.
In addition to Workplace, agents collaborate in our cloud office and at corporate events like EXPCON and our annual shareholder’s meeting.
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.
This revenue share can be earned from agents all across the US and Canada regardless of if the agent they attract to the company is in the same state or not. Also, revenue share is paid per deal the agent closes regardless of if the agent does 1 deal a year or is a capping agent.
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. This means the agent needs to stay with eXp Realty for 3 years from the time they are awarded the stock.
Finally, the ICON agent program awards agents who reach their commission cap and do another $5000 in transaction fees to eXp in the same year their $16,000 that they paid into their commission cap back in the form of eXp stock. An agent hits their commission cap of $16,000 by earning $80,000 in gross commission in one year. 20% of that goes to eXp equaling $16,000. After that time, the agent earns 100% minus a $250 transaction fee. If the agent does another 20 deals at a $250 transaction fee equaling $5,000 they are now eligible to receive their ICON status and stock award. With an average commission amount of around $6,000, an agent would expect to become ICON around 32 transactions within one year.
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.
In addition to the above fees, the agent pays $40/transaction for risk management (which caps at $500/yr) and $25/transaction for broker review.
All of the fees above are based on a US agent. For Canada, the split stays the same, however, the fees are as follows: $199 startup, $139 monthly, $17/transaction risk management ($200 cap), and $29 for broker review.
The first step in researching eXp Realty is to download your free eXp Realty Explained Guide.
Next, sign up for my next eXp Realty Webinar.
Finally, setup your own private demo with me. I’ll share my screen and show you the tools, resources, and answer any questions you have.
Also, check out my eXp Realty blog to learn more about eXp Realty!