I know everyone’s looking for reviews these days. We all want to know what other people think of products and services before we start using them. It’s a natural part of human nature. eXp Realty reviews are just as important as a review on any service: we want to know what people think of working with eXp Realty before we consider joining it ourselves. After all, this is YOUR career.
I’ve done a lot of research over the last few years into what kind of eXp reviews people leave–what they like and what they don’t. I’ve narrowed it down to a few main points that keep showing up in nearly every review. I figured I’d give you a headstart and share some of the main points with you here.
eXp Realty–The Good Parts
There are several things that people writing eXp Realty reviews love about working with eXp. Here are the main benefits they mention.
- Convenience. eXp Realty is an online, entirely cloud-based brokerage. Agents can work from anywhere, anytime. Plus, the education you need is all online with 24/7 access so you can learn whatever you need, whenever you need it.
- More income. The commission split at eXp Realty is 80/20 until you pay a cap of $16,000 to eXp in split fees. This results in much more money in the agent’s pocket. Plus, eXp Realty has at least 10 extra revenue stream options. These options include partner referral fees, revenue share, and stock shares in eXp World Holdings. Agents have a lot of options to build wealth and financial security.
- More training. eXp offers over 60 hours a week of training opportunities on its online platform. This training is included in the eXp monthly fee and provides all the continuing education you need.
- Technology. The technology at eXp Realty is like none other. It provides kvCORE for management; Skyslope to hold files and financial statements; eXp World to connect in a virtual “office”; eXp Enterprise to find education (and more!); eXp Workplace to engage with agents from around the world. Everything an agent needs to build a successful business is available to each agent.
eXp Realty–The Bad Stuff
Despite its many benefits, there are some cons from eXp Realty reviews that anyone wanting to join eXp should take into account.
- Confusing To Get Started. eXp is an all-online brokerage, so you’ll find all answers either online or over the phone. The in-person experience is, for the most part, not there. This means that if you miss an email or just don’t know the next step, it will be hard to get started with eXp Realty. I’ve seen agents literally join eXp for a week and then go right back to their previous brokerage out of frustration.
Having the right sponsor at eXp makes all the difference. Here are some questions to ask your sponsor before joining.
- Recruiting Culture. Many of the agents at eXp Realty are super focused on recruiting new agents. Because agents who bring in new agents as sponsors get to partake in a revenue share program. Some agents get so excited about the revenue share that they become recruiters and stop focusing on their work as agents. This culture has given eXp Realty a bad reputation in many circles. Many agents who were part of eXp Realty left because they got tired of the “all eXp agents do is recruit” line.
- 80/20 Split Is Too High. Many agents are used to a transaction fee at their brokerages–they pay a static fee with every transaction (i.e. flat-fee shops, discount brokerages, transaction fee shop, etc.). Many of these agents don’t like a commission fee in which the brokerage takes a significant portion of their income. It does help that the cap of $16,000 is relatively low compared with other brokerages, but that’s still a high portion if an agent is used to paying $500 per transaction.
My Review of eXp Realty
If you want to read a truly honest review of eXp Realty written by an agent who’s been there, check it out. And if you have any more questions about joining eXp Realty, don’t hesitate to reach out. I’d be happy to provide you with all the support, training, resources, and community culture that you need!