As a real estate agent, you know that hard work is necessary for success. You also know that finding the right resources and relationships to get things done as a real estate agent is tough. Like most of us, you’re looking for the best. If you’re searching for the education, resources, partnerships, and rewards that will make your real estate career a dream come true, eXp Realty is for you. In this article, you’ll learn all about the true eXp Realty and why it might be just the brokerage for you.
What Is eXp Realty?
eXp Realty is a remote brokerage company. Glenn Sanford founded it in 2009 as an innovative way to do real estate based on the success of cloud-based companies like Netflix and Amazon. Today, eXp is one of the fastest-growing real estate brokerages in the world. Currently, it supports over 88,000 agents in more than 23 countries around the world.
In 2023, eXp landed the top spot for independent broker, No. 1 in sides, No. 1 Top Mover for sides, and No.1 Top Mover for volume on the REAL Trends 500 list. Though eXp is a growing and successful company, it cares about more than just raking in sales. One of the founding tenets of eXp is that real estate agents should benefit from their hard work as much as possible. That’s what makes this company different.
Benefits of Joining eXp Realty
When an agent joins the true eXp Realty, they join a worldwide team passionate about getting things done and helping each other succeed. There are multiple benefits to joining the community and running your real estate business with their support. Not only will you make more, but you’ll also be rewarded for your hard work with opportunities to earn revenue, stocks, and bonuses. The eXp Realty community is all about rewarding the agents who live up to their core values and make an impact in their communities.
Costs and Earnings
- Commission Split–The typical commission split with eXp Realty is 80/20, which means you get to keep 80% of any commission you make. That’s about double the normal rates!
- Low Cap–While a typical brokerage asks agents to reach $23,000 before they get to the top commission split, at eXp you only have to reach $16,000. That makes it much easier to get started on earning 100% of all commissions!
- Low Monthly Fee–Joining eXp is only $85 a month. That’s a low price to pay for the remote and high-value support you’ll get for moving your business forward.
- Low Signup Fee–All it takes to join eXp is a low startup payment of $149.
- Pay As You Go Insurance–Your Errors and Omissions Insurance is on a pay as you go plan of $40 per transaction and a cap of $500.
- Small Broker Review Fee–You pay $25 for broker review on each transaction.
Example:
$500,000 Sale x 3% Commission = $15,000 Gross Commission Earned
$15,000 x 80% Agent Split = $12,000 Agent Commission
$12,000 – $25 Broker Review – $40 Errors & Omissions = $11,935 Paid To Agent
Additional Revenue Streams
Revenue Share
As an agent with eXp, you can choose productive agents to sponsor and earn a share of their earnings. There are 7 tiers of compensation to this process, each with a different percentage based on your adjusted gross income. At level 1, an agent can earn a max of $2,800. At level 2 they can earn a max of $3,500, and so on.
Five Ways to Earn Stock
Depending on your needs and work with the company, there are several options for earning stock:
- On your first sale.
- When you Cap.
- When you earn ICON status (engage in high-volume sales while representing the core values of the company culture in your work sphere).
- When one of the agents you sponsor makes their first sale.
- By allocating 5% of your commission to purchase stock at a 10% discount.
Services and Tools
- A Virtual Brokerage–eXp Realty is a fully online, cloud-based brokerage. You can log on at any time to get updates and interact with agents from around the world. Plus, there are no desk fees with the flexible cloud program, saving you thousands of dollars a month.
- Lead Generation Systems and Tools–With kvCORE, you get access to marketing tools, a lead generation system, and web content (landing pages, squeeze pages, a website, IDX (Internet Data Exchange), and automated email and text responses). You can also use this to monitor transactions and other metrics.
- eXp University–Agents get access to 40+ hours a week in virtual training from real estate agents and experts in financial and business sectors. Plus, they can access previous recordings 24/7 on the online platform. New agents are paired with an eXpand mentor to help them get started.
Growing With eXp Realty
eXp Realty is currently operating in 16 countries. When you join the true eXp Realty, you’ll be joining a fast-growing company obsessed with agent success. This is your chance to engage in a fully online platform devoted to helping you learn, grow, and earn. You work hard in your real estate business, but you can’t do everything alone. eXp can provide you with the branding and tools that you need to make your passion into a professional career.
Joining With Agent First Group
As a real estate agent with eXp, you’ll need a sponsor to help you do your best and earn the most. The Agent First Group (AFG) is one of the best sponsor groups because AFG leaders are devoted to helping agents succeed in every way possible. There are many reasons why you should choose Agent First Group when you join eXp:
- AFG provides lead generation for free! The AFG program can help you whether you want guidance to get started or a team to do the work for you.
- AFG gives away top-notch courses to help you learn how to grow your brand and expand your reach.
- The AFG team runs a great onboarding system to help you begin working quickly and efficiently.
- AFG hosts weekly masterminds designed to help you learn tips and become the best in real estate.
If you want help creating leads, growing your business mindset, and expanding your reach to clients, sign up with eXp Realty. Then, get in touch with the Agent First Group today to begin building the life of your dreams.