Are you thinking about joining eXp Realty? Deciding to join a real estate brokerage is a big commitment and extremely important regardless of where you are in your real estate career.
As a new agent, you need support and training when you join a brokerage to get into production ASAP. You have no time to spare because you’re desperately trying to make up your financial investment in getting your license. When you’re an experienced agent, you are looking for a real estate brokerage that will help you scale your business and also has a favorable compensation plan to match your production.
So let’s look at eXp Realty, the innovative real estate brokerage growing faster than any other real estate brokerage in the country. eXp Realty is not only growing by agent count…but was among the top 5 brokerages in sales volume and transactions in 2021 & 2022.
So if you’re thinking about joining eXp Realty this year, here are seven reasons why that would be an awesome career move for you:
1. 3 Distinct Revenue Streams (Commission, Revenue Share, Stock Awards)
eXp Realty is the first real estate brokerage that has revolutionized the real estate industry with a distinct business model where the agent is FIRST. eXp Realty was the first brokerage to offer agents these three distinct revenue streams: commission, revenue share, and stock awards.
Commission Split
The competitive commission compensation plan is as simple as it gets: Agents receive an 80% commission on all sales while the brokerage receives the remaining 20%. Once the agent caps at $16,000, they keep 100% of the commission.
Revenue Share
eXp’s revenue share program rewards agents for bringing new agents to the brokerage. eXp agents “sponsor” a new agent to join eXp, and once the new agent closes transactions, the sponsor receives a percentage of the company revenue from those sales.
Important note: eXp pays that share — not the agent. The money sponsoring agents earn from their sponsored agent is taken from the 20% adjusted gross commission income (AGCI) received by eXp. eXp pays the sponsoring agent monthly.
Stock Shares
The third unique form of compensation for agents at eXp is becoming a shareholder of eXp Realty while doing what they are already doing: selling real estate.
Agents earn shares on their first transaction, when they cap, and when one of their sponsored agents closes their first transaction. On top of that, agents get up to $16,000 back in the stock yearly for reaching the ICON Award status. Lastly, agents can use 5% commission on every transaction to purchase stock at a 10% discount.
2. 80+ Hours of Live Training from Top Realtors
Real estate is a harsh industry to get started in. You have to know how the market works, and you have to be able to convince people that you’re the right person for them. Keep in mind that there are over 2 million licensed real estate agents in the United States!
eXp Realty understands this reality and offers 80+ hours of live training from top realtors — it’s not just theory; it’s practical knowledge that will help you succeed in today’s real estate market.
3. Ability To Quickly Expand Nationally and Internationally
eXp Realty offers an online platform that allows agents to grow their business nationally and internationally. eXp Realty is currently licensed in 50 states and 24 countries! So, agents are free to expand their real estate footprint worldwide without worrying about licensing or complex legal hurdles!
4. Technology (kvCORE, eXp Enterprise, eXp World)
Technology is a key component for all real estate agents to leverage. This is one of the primary reasons eXp has grown so rapidly.
kvCORE
kvCORE is an automated residential property sale platform that serves as a CRM, landing page generator, IDX website, squeeze page generator, single property website generator, and more!
eXp Enterprise
eXp Enterprise is eXp’s online “dashboard” or “hub.” It’s a place to access your marketing materials, track your production, and view detailed information about your stock awards. eXp Enterprise also allows you to monitor your entire business in one place.
eXp World
eXp World is eXp’s virtual office space wherein you can connect to all of the agents and brokers working in eXp like you’re in your physical office. As such, it lets you chat with your broker and find technical support from dedicated technical specialists. You can also engage with live training opportunities.
And while it’s true that there are some drawbacks to working online rather than in person—like no face-to-face interactions—eXp World helps mitigate those issues by making it easy for agents and brokers to communicate with each other.
5.Support 24/7 from More Than 1,400 eXp Staffers
eXp realty believes in giving agents and brokers the support they need to succeed, which is why eXp has more than 1,400 eXp staff members on hand 24/7 to assist agents with any questions or issues that may arise.
Whether it’s a question about how to use one of the systems, how to get through a certain real estate transaction, or just a general inquiry about the industry, the eXp team is available to answer agent queries!
6. Access to Affordable Healthcare
One of the most compelling reasons to join eXp Realty is that it offers affordable healthcare plans that are available to all real estate agents. The brokerage understands that healthcare costs can be prohibitive for many real estate agents, and its goal is to ensure that everyone who works with them can afford to stay healthy without breaking the bank.
7. Partner With Experts Like Those at the Agent First Group
By joining eXp Realty, you are eligible to partner with experts like those found in the Agent First Group, who offer one-on-one coaching explicitly designed for agents looking to make over six figures in GCI.
The Agent First Group offers tons of resources, services, and support to agents ready to earn more while working less. Plus, you’ll get to be a part of a fantastic community of like-minded agents! Learn more about the Agent First Group difference here.
Bottomline
eXp Realty is a full-service real estate brokerage that offers real estate agents the opportunity to build wealth in real estate. It provides first-class marketing, cutting-edge technology, exceptional customer service, competitive compensation, and comprehensive training opportunities to help agents grow. With cloud real estate technology and a streamlined approach to modernizing how agents sell real estate, eXp Realty sets a new standard for the industry. Joining eXp Realty is an excellent opportunity for any realtor out there who is looking to build a solid career.