The commission splits at eXp Realty are competitive and pretty straightforward. However, since commission splits are one of the most important things you need to know before choosing a brokerage, we’ll take a good look at how eXp Realty commission splits work so you’re fully aware.
The Commission Split Breakdown at eXp Realty
The typical eXp Realty commission split is 80/20. This means that 80% of each commission that you make on a transaction goes to you and 20% goes to the brokerage.
Cap
At eXp, the cap on your commission split is $16,000. That means that once you’ve paid $16,000 into the brokerage through commission splits (or sold about $2.66 million through transactions), you get to take home 100% of your remaining commissions that year.
Transaction Fee
When we say you get to take home your entire commission after you cap, there’s one small caveat. You do have to pay eXp Realty a transaction fee on each and every transaction after you cap. That fee is $250.
However, this fee also caps…so, if you pay at least $5,000 in transaction fees AFTER capping, your transaction fee reduces again and you only have to pay $75 per transaction.
New Agent Commission Split
It’s important that you know there is a slightly different commission split process for brand-new agents. If you join eXp and have closed fewer than three transactions in the last 12 months, you will start out at a 60/40 commission split.
The additional 20% for the brokerage goes toward paying your mentor. This is an experienced eXp agent who is there to help you get started successfully in your real estate career.
The split will remain 60/40 for your first three transactions with eXp Realty. It will then switch to the typical 80/20 split that other agents work under.
To learn more about eXp Realty’s commission split and other revenue streams, connect with me! I’ll share all you need to know about how to join the top eXp Realty team to make the most money and get the best results.