One of the most common questions real estate brokerages and team leaders have when joining eXp Realty is, “how do real estate teams work at eXp Realty?” In this post, I’ll give you the rundown on the eXp Realty team structure and the models you can leverage to scale your business the right way.
eXp Realty Team Structure
There are four team models at eXp Realty. The eXp team structure is completely agent-centric, which means it offers a lot of flexibility for you to choose exactly how you want to grow your business. Working on a team can provide you with huge benefits in your income, marketing capabilities, and how you serve your clients.
Model One: Self Organized Team
This is the most common team structure for eXp agents. It’s similar to a variation found in many brokerages where you get a referral fee from any agent when you pass on a lead to them. The rundown goes like this:
- You can be a team leader without needing a minimum of completed deals in order to qualify.
- All agents in the team, including yourself as the team leader, have a $16,000 cap.
- eXp requires no formal agreement. However, you will disclose your team members to provide clarity and ensure that you don’t pay double fees to the brokerage. The brokerage requires this as it charges per transaction and not per person.
- No set referral fee is required, so your team can set whatever they all agree to, whether that be 5%, 60%, or anywhere in between.
Who Uses This Model?
This model works really well for agents who want a lot of flexibility in a team. It’s also great for those who are looking for specific benefits from the branding or marketing collateral held by the team leader. In this team structure, agents can join the team and pay a light referral fee to take part in the team leader’s benefits.
Model Two: Standard Team
This is the model you likely think of when you hear the word “team” spoken in a real estate context. The basics are:
- Anyone who wants to join eXp as a Standard Team must qualify by reaching 30 transactions or $6 million in sales volume over the last 12 months.
- As a team leader, you will have a $16,000 cap; team agents will only have a “half cap” of $8,000.
- A formal agreement and team roster must be submitted to and approved by eXp.
- All team agents must pay AT LEAST a 25% split to you for each transaction. This prevents them from circumventing the “half cap” they’re under.
Who Uses This Model?
This model is often used by brokerages or real estate teams who decide to “roll in” to eXp and join the worldwide network. In this case, a broker will join as team leader and retain their agents as part of their team. This model is very similar to a typical brokerage format.
Model Three: Domestic Partnership
This model is less common but still has an important role to play in the eXp structure. If you and your spouse are both in the real estate business, you can act as one in regard to production goals, etc. You must be legally married to create this team structure. Basically, it goes like this:
- You and your spouse share a $16,000 cap.
- You both pay eXp fees but get a discount so that one partner pays the typical $85 a month and one partner pays only $50 a month.
- No formal agreement is required, but the onboarding team must immediately be notified of this arrangement.
Who Uses This Model?
As is pretty obvious, this model is for legally married partners who work together to run a real estate business.
Model Four: Mega Icon Team
This model is similar to the standard model but is much bigger–usually, this applies to teams made of 10 or more agents. If you’re looking to really expand your business and your profit value, this model has great benefits. This is how it works:
- Team members qualify by having reached 175 transactions or $40 million in sales volume over the last 12 months.
- There must be at least ten agents who have capped in the last 12 months.
- You as team leader still cap at $16,000, but your agents stop at a “quarter cap” of $4,000.
- To ensure continual production, the team as a whole must pay at least $56,000 in commission splits.
- A formal agreement and team roster must be submitted to and approved by eXp.
Who Uses This Model?
This model works well for agents who enjoy being a part of a team and want to share in a large sales volume.
Why Join a Team at eXp Realty?
As the leader of an eXp team, you get to create your own business model within a larger framework. You can designate specific training you want your team members to know, provide branding support, work together with several agents to reach goals, and enjoy the benefits of extra income flow. The flexibility that eXp offers means that you can make this team idea work however you see fit. If your dream is to create a business that’s uniquely yours with the ultimate benefits and discounts, eXp teams are the perfect solution.
Regardless of the model you choose, eXp makes it possible to find your own customized route. If you’re interested, reach out to me and consider joining my team. As part of the Agent First Group, you’ll receive access to an incredible community, resources, services, support, and training to help you get the most out of your opportunities at eXp Realty. Connect with me to chat about joining this eXp team today!