eXp Explained The eXp Realty Business Model
THE CLOUD BASED REAL ESTATE BROKERAGE OF EXP REALTY EXPLAINED
As the world's leading Cloud Based Real Estate Brokerage, eXp Realty has taken the United States by storm. Attracting real estate agents at a greater rate than any other brokerage ever before. What's more, it's completely Agent-Owned.
We joined as eXp agents back in 2020. And it's not only streamlined our real estate business. It's given us more freedom and wealth and significantly improved our work-life balance. Check out more about our background and why we joined eXp Realty.
So, how does the cloud based real estate brokerage eXp Realty business model work? Let’s explore how eXp Realty real estate works in detail and how the model can work for you and your future. Also, if you'd prefer to watch the content, please see the eXp Explained video presented by Brent Gove.
What We'll Cover On The eXp Realty Business Model
ABOUT EXP REALTY EXPLAINED
The Story Behind eXp Explained
Glenn Sanford established and founded eXp Realty, the leading cloud based real estate brokerage, back in 2009.
Before this, Glenn led a real estate team at Keller Williams, transacting around $60 million annually in sales.
The property market crash hit in 2008, and Glenn, like many other real estate agents, experienced significant losses and was left with huge overheads.
At this time, Glenn thought there had to be a more innovative and better way. Agents should be able to build and grow their businesses with much less risk involved. So, with this in mind, Glenn came up with the eXp Realty business model in 2009. A cloud based real estate brokerage - the first of its kind.
It didn't take long before the company expanded into 11 states by 2010. And Glenn decided to take the company public in 2013.
That decision is what enabled eXp agents to be able to become owners of the company through earning stock. Just for doing what they already do, closing real estate sales.
Then, in 2015, the ICON agent award was introduced by the company. This quickly resulted in the growth of over 300% in agents in the following year.
The company was operational in all 50 states, as well as Canada, by 2018. Fast forward to today, and eXp is the world's leading cloud based real estate brokerage with 80,000+ agents across 21 countries. Including the United States, Canada, Australia, the United Kingdom, India, South Africa and many more. See our Global Page and discover how many countries eXp is in right now.
How is eXp Realty Sustainable?
When agents are first shown the eXp Realty business model, one of the big questions we get asked a lot by agents is about the company's sustainability. How is eXp Realty sustainable when it offers such a great real estate model to its agents?
From lead generation tools, revenue share, stock awards and cost savings in everything it offers. eXp Realty gives its agents so much.
So it's no wonder that agents question whether the eXp Realty business model is profitable. And more importantly, is eXp Realty sustainable moving forward.
The answer we have to this question is yes. The eXp Realty business model is incredibly sustainable. Let's look more into why this is the case.
eXp Realty's parent company, eXp World Holdings, has very little if any debt. And since Q4 of 2019, it's also reported a profit for every quarter.
This revenue sharing model is so sustainable that the company can pay up to 50% back from the company's revenue dollars to its agents. This allows the remaining 50% to be put towards its operating costs and profit.
Also, since the company doesn't have any physical offices, its overheads are significantly less than comparable brokerages.
eXp's Company Earnings and Profitability
Looking at the company's financial earnings for each quarter, you'll see that its fixed operating costs only account for about 30% of the company's revenue. Leaving around 20% to report as a solid profit margin. Much higher than most real estate brokerages.
In addition, most brokerages make most of their profits from their related services such as mortgage, insurance, property or rental management, title, and partnerships with other businesses. They generally only break even from their real estate sales division.
With this in mind, for eXp World Holdings, there are even more significant benefits to be gained, as the company is only just beginning to look at business opportunities such as these in addition to its real estate operations.
Finally, now that eXp's operations span globally, the company no longer relies on the performance of just the United States real estate market for its sustainability. Its diversification is what's making eXp Realty sustainable into the future.
By expanding its operations into more countries and different areas of business, the eXp Realty company operations are becoming increasingly diversified, increasing its sustainability.
EXP REALTY AGENT RESOURCES AND TOOLS
Does eXp Realty Provide Leads to its Agents?
eXp Realty does provide a handful of leads to its agents. However, they’re generally not enough to be able to carry on and solely maintain a business.
Through its corporate website, eXp Realty generates leads. Then they’re filtered through, in a round-robin system, to agents within their markets.
Leads like this are allocated via the eXp Realty kvCORE platform. And how many leads you get assigned to you will depend on both the number of eXp Realty agents and buyer and seller demand in your area.
Overall, agents should consider these types of leads as a bonus. Agents shouldn't rely on them as their primary source of business.
Instead, the genuine opportunity concerning lead generation comes from the company providing its agents with access to kvCORE to implement into their business.
eXp Realty kvCORE
All eXp Realty agents get access to kVCORE, a revolutionary real estate platform for lead generation.
Giving agents their own lead-generating website and CRM database in the back-end, kvCORE (previously Kunversion) is an all-in-one solution for lead generation.
Together, this integrated lead generation system assists agents in generating leads from different sources, using both traditional and online methods.
The personalized website at the front-end not only looks impressive, but it's also a valuable source of information for any potential leads or clients.
Users of the site can create their own accounts, allowing them to save property searches and properties so that they can be notified of any changes.
You'll also get great insight into user behaviours by seeing which properties they're viewing, saving and what searches they're interested in.
Then there's the CRM. This powerful system gives agents the means to manage their leads without compromising client communication through a huge database.
Features that set apart the eXp Realty kvCORE CRM include automated trails and drip campaigns for email, direct texting from the CRM, and the creation of lead-generating squeeze and landing pages. And all this can be done even if you're not a tech-savvy agent.
eXp Realty Skyslope
Skyslope is a highly functional transaction management platform. eXp Realty agents use Skyslope to organize their transactions, get forms signed and further upload documents to the company's transaction and broker team.
Skyslope gives agents the confidence of knowing that their file is complete and has also been checked by the company's transaction coordinators and the state broker.
So, whenever you have a new file, Skyslope can populate a checklist from the details you input based on requirements in your market for the type of file you're working with.
All of the required documents will have a red mark next to them. Then once they're submitted, the red light turns to yellow, and the document gets reviewed by the company transaction team.
The status will be approved if the document is complete and correct. And you'll get a green mark put next to the document.
You can easily see what hasn't been satisfied for a file to be completed. Then once all the documents have been submitted, eXp Realty's transaction coordinators will issue you with a "Disbursement Authorization".
Providing the "Disbursement Authorization" to the title company ensures that you receive a separate check from eXp Realty. This means you'll get paid at the closing table.
eXp World - Your Virtual Office
eXp World, which is powered by the technology of Virbela, is a virtual environment that agents log into and receive support and training and is the platform for the cloud-based real estate brokerage model.
After you download the software to your computer, you create your own avatar (virtual person) and can explore the campus and visit an array of departments and training rooms. It's very simple to use.
You'll also be able to access your broker state room and receive live and on-demand support from your state broker and transaction coordinators, all within eXp World.
Some of the additional support departments you'll find within the World include onboarding, tech support, accounting and team services.
In addition, there are several auditoriums and classrooms which you can join for live training, which is held throughout the day.
Every Sunday evening, a training calendar gets posted that displays all of the upcoming training for the week and lets you know where inside eXp World you can access it. You just show up when and where the scheduled training is taking place, and you'll get access.
Click here to request your free 2-week guest pass to eXp World, where you'll have the ability to be able to explore the entire campus, attend training and interact with other agents and staff inside the World.
eXp Realty Enterprise Platform
All eXp Realty agents get access to the eXp Enterprise platform. Its dashboard displays the details of all closed and current transactions, the fees and cap paid so far, and company stock earned and revenue share balances.
This means that you'll be able to track your cap, the earned income for a selected period and the number of agents in your revenue sharing organization at any given time.
You no longer have to manually track and update your goals, commissions and transactions in a spreadsheet. Simply log in to eXp Enterprise, and you'll be able to view all your transaction details back to when you first started with the company.
Enterprise ensures efficiency and accuracy in recording and displaying some of an agent's most important information.
eXp Realty Marketing and Branding Center
With the comprehensive eXp Realty marketing and branding center, agents joining eXp Realty will be able to access a complete library of marketing materials and templates.
From day one, agents can access these eXp Realty marketing and branding materials and modify them to make them their own.
So long as compliance with state advertising laws is met, the company fully supports its agents in branding themselves how they see fit.
Among the popular resources which can be found inside the eXp Realty marketing center are listing presentations, buyer presentations, listing and open home flyers, social media resources, and buying and selling guides, just to name a few.
Workplace By Meta (Facebook)
Being the leading cloud based real estate brokerage in the world, one of the most used tools in eXp Realty is Workplace By Meta. The Workplace platform is indistinguishable from the standard Facebook we're all so used to.
The difference is that it's an isolated platform only accessible by eXp Realty agents and staff. Like Facebook, there are versions available for both desktop and mobile.
Taking a look into eXp's Workplace, you'll see a news feed full of valuable posts by agents, recorded training, referrals and important announcements.
Just like Facebook, you're able to join groups. Group examples include real estate training, referral networks, your state group, kvCORE, lead generation discussions, etc.
Finally, built into Workplace is Messenger, which works and looks exactly like it does on regular Facebook.
This means you're able to message anyone who works in the company, from any country, from anywhere in the world. And you can get quick responses on what you need from staff, other eXp Realty agents, and your state broker.
Communicating, collaborating and meeting new agents within the company worldwide has never been easier.
Regus eXp Realty Partnership
As eXp Realty is a cloud-based real estate brokerage, with no physical brick and mortar offices, agents often ask what they do if they need an office space for some reason.
This is where the Regus eXp Realty partnership steps in.
Regus provides coworking spaces within its offices and are available in over 13,000 locations across the United States and has offices worldwide.
The Regus eXp Realty partnership means free membership to Regus shared workspaces is given to all agents upon joining eXp.
You can drop into a Regus office, use their wifi, enjoy a tea or coffee and get your work done.
You can even book an office space or conference room by the hour if you'd like to meet a client. It's an extra fee to do so, but at a very affordable price (usually about $30/hour). Regus also has receptionists who will greet your client at the front and direct them to the office you're in.
And for those agents wishing to upgrade to fully reserved office space, you receive a discount and can book it on a monthly basis.
This means you can get the best of both worlds with all the advantages of a cloud based real estate brokerage and the availability of physical brick and mortar offices through Regus if needed.
EXP REAL ESTATE AGENT SUPPORT AND TRAINING
Unrivalled Training and Support at eXp Realty
Training is something that you’ll have a lot of access to when you join eXp Realty.
You’ll never be short of training and always be able to find information and training on what you’re after.
The company hosts over 50 hours of live training weekly.
For the most part, this training is recorded and then uploaded to the ever-expanding library of eXp on-demand training.
Most of eXp Realty's training is also hosted by top real estate agents in the industry nationwide and around the world.
They share their strategies and resources, which they are using to win business in the current market and also hold training on other aspects such as personal growth, development and mindset.
Think real estate conference. But it's free. And it's available to you every week and on-demand.
Trainers cover a variety of topics every week. And there's an array of different perspectives from agents who share what is working within their specific marketplace.
Weekly eXp Realty Live Training
As mentioned earlier, eXp Realty plays host to over 50 hours of live training weekly. Agents can pull up this training via the company's cloud campus wherever you have internet access.
Topics for training range from real estate dialogues and scripts, lead generation strategies, state contract training, social media strategies and management, blogging, videos and lots more.
Training is done by eXp Realty ICON agents nationwide and around the world. As the company's most productive agents, team leaders and associate brokers, ICON agents have reached a specific production requirement.
For this reason, eXp Realty sets itself apart in terms of providing quality training to agents within the company. There's nothing else out there like it!
eXp Realty Video Library of On-Demand Training
Let's say you happen to miss one of the many company training sessions. Or maybe you'd like to research the eXp Realty video library through some of the 1,000's of training sessions recorded from past training.
With the Training Library at eXp University, you can do just that! And it's categorized by topic, so it's easy to find what you're after.
Anytime and from anywhere, you can access the University's library of training content.
eXp Mentor Program
If you're new to the industry and wondering what kind of assistance there may be to ensure you're set up for success. Then the eXp Mentor Program will be something that might interest you.
Upon starting, new eXp Realty agents who have not yet closed three transactions within the 12 months prior will have a mentor assigned to them.
Every eXp mentor must meet a certain level of production before they are allowed to mentor other agents.
Your allocated mentor will be a local real estate agent, so they can better understand your needs and the challenges that you may face within a particular area.
If the new agent has any questions, their eXp mentor is only a phone call away to assist.
In addition to the eXp mentor program, another way the company helps new agents hit the ground running is through the many modules full of training lessons in their custom-built system for managing mentor learning. It's such an excellent tool for new agents.
Until the mentee closes their first three transactions, they will effectively be on a 60/40 split as an additional 20% split will be paid by the mentee to cover the mentoring cost for these first few transactions.
The standard 80/20 eXp commission split will apply following the closure of the mentee's first three transactions. That's when they become an eXp mentor program graduate.
Coaching by SUCCESS at eXp Realty
In 2020, the SUCCESS brand and SUCCESS magazine were acquired by eXp Realty.
Following this, they announced the exciting news that additional coaching would be available through the SUCCESS coaching platform for eXp Realty agents.
Real-Time Specialist Support
Support to its agents and brokerage functions is paramount at eXp Realty, so they have over 1,000 corporate staff available to help and provide support.
This real-time specialist support is available from the team Monday to Friday, 11 hours a day. Help is available directly from staff via Workplace Messenger, text, email, phone, or simply visiting them in the World.
Support from staff is available in onboarding, transaction management, tech support, team support, IT, agent concierge, accounting, HR, plus many more departments.
Support From Your Broker at eXp Realty
A common question we get asked by agents is, who is the broker for eXp Realty, and how can they get assistance from them.
In all 50 states, the company has an appointed managing broker. And depending on the number of agents, there may also be Assistant State Brokers in your particular state.
Because state brokers get paid a salary, they're not competing with their agents. It also means that brokers focus more on supporting agents within their state and are much more accessible.
Support For Transaction Management
eXp Realty agents are provided with dedicated experts in transaction support to ensure that agent files are accurate and complete.
By using Skyslope, eXp Realty agents can submit for review their documents and instantaneously receive feedback.
Also, to ensure that agents receive their commissions directly at closing, the title company is forwarded disbursement authorizations created by the transaction coordinators at eXp.
Collaboration and Support Amongst eXp Realty Agents
Because of eXp World and Workplace tools, eXp Realty agents can collaborate with and get support from fellow agents, company Staff, and brokers.
As an eXp agent, you can get almost instant answers to your questions. Just post a question in Workplace, and guaranteed, you'll have a response within minutes.
Other agents are only too willing to help you out. Also, you may even find a quick answer to your question by using Workplace's in-built search tool.
EXP REALTY EVENTS - VIRTUAL AND IN-PERSON
Attend eXp Realty Events Your Way
Every year, the company hosts EXPCON and the Shareholder Summit – two mammoth in-person events.
Agents travel in the thousands just to attend these events. They come from all across the globe to listen to international keynote speakers and learn from some of the industry’s leading agents.
And by owning the SUCCESS brand, at eXp Realty events the company can provide keynote speakers such as Tony Robbins, Grant Cardone, Rory Vayden, and many more like them.
These massive company-endorsed eXp Realty events are not the only events you'll see though. You'll also find many agent-organized eXp Realty events being held every year, which you're invited to attend.
EXP REALTY REVENUE SHARING EXPLAINED
What is eXp Realty Revenue Sharing?
One of eXp’s unique value propositions is the opportunity to earn additional income streams, which it gives to real estate agents.
Revenue sharing is one of these income streams.
Now, you may have heard different things about what revenue sharing is.
So, let us tell you what it is from the perspective of eXp Realty agents that have been listing and selling real estate successfully under the eXp Realty business model.
Basically, it's a way in which the company can give back to its agents for helping the company to grow. They do this by sharing a percentage of company revenue that eXp Realty collects from commissions that are earned.
It should be noted that this revenue share comes from eXp Realty's part of the commission split, NOT the agent's.
How is eXp Realty Sustainable with its Revenue Share?
So, this brings up the question of is eXp Realty sustainable. How is it possible for the company to provide revenue share for its agents and still be sustainable into the future? Most traditional brokerages experience expensive overheads. But being a cloud-based real estate company, eXp Realty does NOT have huge operating costs.
Such expenses include the cost of having a physical office, redundant employment positions, and the added cost of franchise owners, team leaders and corporate recruitment staff.
Instead, the company can reward off the top to its agents. And it does this by way of providing revenue sharing.
Regardless of whether an agent who's referred to eXp Realty is in the same state, a different state, or even another country, revenue share can be earned by agents all across the United States, Canada and the globe.
Revenue Share is also paid on every deal closed by an agent, up to when they cap. This is regardless of whether the agent closes one deal during the year or is an eXp capping agent.
Learn more about eXp Revenue Share explained and how much you could earn.
EXP REALTY COMPANY STOCK AWARDS
Powerful Equity Opportunities at eXp Realty
One of the significant benefits of choosing to build your business within the eXp Realty business model is the opportunity to become a part-owner in the company you work in partnership with.
In other words, eXp gives you shareholdings in its company stock for closing deals and sharing the eXp Realty business model with like-minded agents.
Agents can earn eXp Realty company stock in three main ways: Sustainable Equity Plan, ICON Agent Award and the eXp Realty Agent Equity Program.
What is eXp Realty Sustainable Equity Plan?
By selling real estate or doing what they usually do, agents are given the opportunity to get free shares in company Stock under the eXp Realty Sustainable Equity Plan.
This eXp Realty Sustainable Equity Plan grants agents stock when they close their first deal each year, when they reach their cap, and when they refer another agent into the company, and they close their first transaction.
It should be noted that this free stock granted to agents is vested for three years. For three years from when they are awarded the stock, an agent needs to stay as a member of eXp to cash out on the shareholdings.
ICON Agent Program for Top eXp Realty Agents
Top eXp Realty agents can become eligible for the ICON Agent Award. The criteria for this ICON award require agents to reach their commission cap, then follow this up with enough transactions to equal another $5,000 in transaction fees paid to the company within the same anniversary year.
Agents who achieve this will get the $16,000 they put into their commission cap (which got paid from their commission split) back in the form of EXPI company stock.
In other words, an agent will hit their commission cap of $16,000 by earning $80,000 in gross commission in one year, with 20% of this going to the company, equalling $16,000 for eXp's split.
Once they've hit their cap, the agent then earns 100% of their commissions, with only $250 being paid for each transaction fee.
Then, when the agent closes an additional 20 deals with the $250 transaction fee equal to $5,000, they'll become one of the top eXp Realty agents and now be eligible for ICON status and its associated stock award.
So, let's take $6,000 as an average commission amount. This would mean that an agent, on average, should expect to achieve ICON status after closing around 32 deals within a 12 month period.
eXp Realty Agent Equity Program
An agent who has joined eXp can also purchase stock at a discount by taking advantage of the direct purchase plan offered by the company.
This stock program is entirely optional.
But if an eXp agent does choose to opt-in, they can have 5% of their pre-tax GCI deducted automatically to purchase eXp shareholdings at a discounted rate of 10% off the publicly-traded market price of the stock at the time of purchase.
TYPES OF TEAM STRUCTURES AND TEAMS AT EXP REALTY
How the Types of Team Structures and Teams at eXp Realty Work
There are several different types of team structures within eXp Realty available to position yourself in such a way that helps your real estate business grow exponentially.
The unique eXp Realty business model also provides its agents with the means and opportunity to build what we call a seventh-level business.
By utilizing this type of model, the company has seen hundreds if not thousands of agents earning monthly passive residual income. Learn more about the seventh-level business model for teams at eXp Realty.
So, now let's look at the different types of team structures that eXp offers. Teams at eXp Realty are as follows.
Self-Organized Teams at eXp Realty
The self-organized team structure requires no minimum production from its Team Leader, with each agent on the team working on transactions independently of their Team Leader as they choose. This means that each agent also has their own $16,000 Cap.
Those choosing this type of team structure generally use it for marketing reasons and opportunities for leverage.
Domestic Partnership Teams at eXp Realty
This type of team is for couples who are married, and both have their real estate licenses. By joining forces, domestic partnerships teams at eXp Realty can share a single $16,000 cap with only one monthly $135 fee.
Standard Teams at eXp Realty
The standard teams at eXp Realty require a minimum sales production of $6 million within the last 12 months for Team Leaders.
Agents who are part of standard teams at eXp Realty will be eligible for a "half-cap". This half-cap equals $8,000, exactly half of the total cap of $16,000. The Team Leader is also entitled to a minimum of 25% from each team agent deal under this team structure.
Mega ICON Teams at eXp Realty
To qualify for a Mega ICON Team, a minimum sales production of $40 million within the last 12 months must have been achieved by the Team Leader. As well as having at least ten agents on their team.
Agents who are part of Mega ICON Teams at eXp Realty will be eligible for a "quarter-cap", equal to $4,000. Like a standard team, the Team Leader is entitled to a minimum of 25% from each team agent deal.
EXP REALTY COMMISSION SPLIT AND FEES
What are the eXp Realty Commission Split and Fees?
eXp believes that the broker's proposition to its agents must be of such value that it'd be crazy for agents to hang their license at any other brokerage.
With exp's extremely low start-up cost, super-low monthly fees and the massive amount of value gained by agents joining eXp, this all supports this belief. The generous eXp Realty commission split and low fees are an extremely attractive offer to agents by the company.
Agents joining eXp pay $149 as the initial low start-up cost, which even includes 1,000 business cards. Then the $85 monthly fee covers your all-inclusive real estate tools, training, tech and support.
The eXp Realty commission split for all agents is an 80/20 commission split with a $16,000 cap.
Once an agent achieves $80,000 GCI in sales commissions and "caps", they get 100% of their commissions after that with a transaction fee of $250 for closed transactions. And this fee will then reduce to $75/transaction after paying a total of $5,000 in transaction fees.
The other fees applicable to agents per transaction are $25 for broker review and $40 for risk management.
These fees above all apply to US agents.
If you're a Canadian agent, the split remains the same, but fees are $199 for initial start-up and a $139 monthly fee. Then the fees applicable per transaction are $29 for broker review and $17 for risk management (with a $200 cap).
JOINING EXP REALTY
What are the Next Steps?
You've explored through all the great benefits that eXp Realty has to offer.
And you've seen what it's doing to improve the businesses and livelihood of so many other agents.
So, now you're considering joining eXp Realty. What are the next steps?
If you're considering joining eXp Realty, it's as easy as following these three steps:
(1) Register your interest to join eXp Realty here and complete the form by clicking on the "Register to Apply as an Agent" button (it'll take you around 5 minutes).
(2) Once you've completed your registration online to apply as an agent, you will be contacted to discuss your application further and check your details. The independent contractor agreement will then be sent out immediately by the company for you to review.
You will also name your chosen eXp sponsor at the very end of the agreement before electronically signing it for submission. See further below about choosing your eXp sponsor.
(3) Upon your completion and submission of your independent contractor agreement, your state broker will send you an email outlining the steps on how you can transfer over to eXp Realty your state license.
Choosing Your eXp Sponsor
If you want to discover more about the benefits of choosing and naming us, Alex and Felicity Harden (Founders of One Great Force), as your eXp Realty sponsor, check out what you'll get by choosing us as your eXp sponsor.
By partnering with us, you'll get access to all of our exclusive training, business strategies and planning, templates, scripts and dialogues and much more.
We also hold weekly training sessions via Zoom sessions and have a private Facebook Group and Workplace Chat Group, to which our partners all get access.
This is in addition to all of the great benefits already offered by eXp Realty and is free if you decide to partner with us at eXp Realty.
The eXp Onboarding Process
After you become formally licensed and brokered by eXp Realty in your state, the eXp onboarding team will begin to set your account up in kvCORE, eXp Enterprise, Skyslope and Workplace.
Note that it can take about 3-5 business days for kvCORE to get set up. However, following your eXp onboarding you'll have access to most of all the other tools either by the end of that day or within one business day.
Just contact us if you'd like to know more about the complete eXp onboarding process.
EXP FAQ - YOUR QUESTIONS ANSWERED
Find a complete list of eXp Realty Frequently Asked Questions on our FAQ Page. Explore answers to some of the main FAQs below.
How long's eXp Realty been operating for?
eXp Realty has been around since 2009 when its founder Glenn Sanford established it. It's the world's leading cloud based real estate brokerage.
Is eXp a Pyramid Scheme?
By definition, pyramid schemes are illegal. Being a publicly-traded company, eXp Realty gets audited every year by the Securities and Exchange Commission. It has its books open for all to scrutinize every fiscal year.
Some non-eXp Realty agents tend to label eXp's real estate model with terms like "Pyramid Scheme" or "MLM". This is far from the truth, but it's because they aren't completely aware of eXp's model, nor do they fully understand how Revenue Sharing in the company works.
And how could they? They don't work and earn money transacting in eXp like we do, each and every single day.
Although eXp may be the first of its kind to offer Revenue Sharing in the real estate industry, it's certainly not the only company out there offering Revenue Share to its agents.
In fact, this type of model has existed for decades in numerous other industries. And the lesser "profit-share" model is even more prevalent across most industries.
So, in answer to the question "is eXp Realty a pyramid scheme". That's a simple, factual and strong "NO" eXp is NOT a pyramid scheme.
Are you required to join a real estate association if you join eXp Realty?
Yes. You’ll need to join your local board of Realtors and become a member of the National Association of Realtors.
Is eXp Realty good for a part-time agent?
When asked about their decision to go with eXp, the vast majority of part-time agents, both new and those in the company for years, say they're thrilled with their choice of brokerage over others.
One of the significant advantages for part-time agents is the flexibility of training, the easily accessible support, and the low-cost entry and fees that eXp offers to all agents.
What if I'm licensed in multiple states?
If you're an agent who has a license in more than one state, then eXp Realty is definitely a brokerage of choice.
For every state in which you hold a license, you can join eXp Realty. And the best part is you're only required to pay a single commission cap with only one low monthly fee payable.
Being one huge brokerage, as opposed to a chain of franchises, eXp agents need only know one series of systems and procedures. And all of their transactions come under this single set of systems.
Also, irrespective of the number of states an agent may work, everything in the company is centralized and streamlined.
Who's the broker in eXp Realty?
In eXp Realty, a designated broker manages each state. And there can also be assistant state brokers, in addition to the state broker, dependent upon how many licensed agents there are within one particular state.
What does eXp stand for?
Although there’s no official explanation for the meaning of “eXp” in eXp Realty, Glenn Sanford mentioned that in the search for name choice, he thought the letters “eXp” was a good representation of powerful words.
Words such as “expert”, “exponential” and “experience”. Following this, it was decided that the name eXp Realty was best suited to the company and what it’s all about.
Is eXp Realty like Keller Williams?
Although there are many similarities between eXp Realty and Keller Williams, there are also some quite substantial differences as well.
Both eXp and Keller Williams offer a great culture, support and training for their agents.
However, what really sets eXp apart from Keller Williams is that it is cloud-based, offers stock ownership to its agents, and revenue sharing as opposed to profit share, which is what Keller Williams offers.
How many agents does eXp Realty have?
There’s over 80,000 agents worldwide, across 21 countries, at eXp Realty as of April 2022.
