a few more questions?
pull up a chair
"The key to success is to start before you are ready."
- Marie Forleo
okay, i totally wanna chat!
"Marissa is seriously a godsend! She completely changed my business mindset and now my biz is thriving!"
- zahara l.
okay, i totally wanna chat!
"Marissa is seriously a godsend! She completely changed my business mindset and now my biz is thriving!"
- zahara l.
eXp
eXp Realty is the first "Agent-Owned, Cloud Based Brokerage."
general questions
What is eXp Realty?
Who started eXp Realty?
eXp Realty was founded in 2009 by Glenn Sanford, who ran a top team at Keller Williams Realty before founding the first cloud-based real estate brokerage. Glenn believes that agents and brokers do the heavy lifting in real estate. They deserve the benefits of being a shareholder and to earn income based on their level of contribution to the company.
Where does eXp operate?
In addition to each of the 50 states, eXp has grown to Canada, the UK, Australia, South Africa, India, Mexico, Portugal, France, Puerto Rico, Brazil, Italy, Hong Kong, Columbia, and Spain.
Who is the broker?
Each State has at least one broker, with most states and countries having a team of brokers who share the responsibilities of support and compliance review.
How many agents does eXp have?
Exp is the fastest growing brokerage in the country, with nearly 1,000 agents moving their business over every month. As of September, 2021, there are over 60,000 agents nationally and internationally.
eXp is the fastest growing real estate brokerage in the nation with over 83,000 agents as of July 2022.
modern agent
Yes. While we do offer in person and online trainings from time to time for agents across all brokerages, our collaboration group is exclusive to agents aligned with us inside of eXp Realty.
the best village you'll ever have
Do I have to be an agent with eXp Realty to be part of the Modern Agent Partner Network?
How do Modern Agents collaborate?
- Our group has a Zoom call every Thursday at 1:00PM (EST). Our topics range from anything between inspection tips to social media strategies to preparing a profit and loss statement for your business.
- Answers to questions are only a quick post away as we use our Facebook group for sharing tips, tricks, knowledge sharing, and answering each others' questions.
If another Modern Agent shared the group with me, will I still get access to leadership if I name them as my sponsor?
Absolutely! Whoever introduced you to eXp and the Modern Agent network should be named your sponsor. The beauty of eXp is that the financial alignment in the model means you essentially get seven business owners pouring into your business for the price of one.
YES! That is the beauty of the cloud. Instead of being confined to the resources in our immediate geographical area, by joining a nation wide team of REALTORS®, you can mastermind to learn what is working for other agents in markets across the country. Further, this group is a great way to gain referrals from other agents in different parts of the world. Win/Win!
I'm not in your local market. Can I still be a Modern Agent?
fees
$149
no royalty, no franchise, no desk fees, ever!
Startup Fee:
$85
Monthly Technology Fee:
$250/transaction for first 20 transactions after cap, $75 thereafter
Transaction Fee (after cap):
$40/transaction *cap of $500
E&O:
What is included in my fees?
- 1,000 business cards
- Account(s) setup
- New agent website
- kvCORE CRM (website, automated text/phone/email marketing, lead generation, home value estimates, text codes, client management, search alerts, and more!
- 60+ hours per week of live real estate training + replay on demand
- Access to over 600 support staff - IT, legal, broker + broker support, vendors, etc.
- Marketing Materials
If I'm licensed in two states, do I have to pay fees twice?
- No! The monthly fees are paid to eXp one time, regardless of the number of states you're licensed in. BONUS: You also only have to pay towards one cap!
Are there hidden royalty fees built in after I cap?
- No! The only fees after you cap are detailed above. Don't ever think about a 6% "royalty" ever again, you shouldn't have to pay the broker for their franchise or office fees, eXp puts AGENTS FIRST!
commission
80-100%+* to Agent
let's make some money!
Commission Split:
Commission Cap:
Are all agents on the 80/20 split?
- Yes! All agents at eXp, regardless of their productivity level, are on the 80/20 split. No more having to work up to a lower commission split, once you hit your $16,000 cap, you keep 100% for the remainder of your anniversary year.
$16,000
If I'm licensed in more than one state, do I have to pay the cap in each state?
- NO! This is the best news ever for agents who may hold licenses in multiple states. Not only do you pay one set of fees, your cap applies to as many states as you hold licenses in, so once you hit $16,000, you keep 100% across all states for the remainder of your anniversary year.
*How can my commission split be 100% to the agent?
- If you hit ICON status at eXp, you have the ability to earn all $16,000 of your commission back in stock.
- ICON status can be achieved in two ways: 1) Reaching the $16,000 cap + 20 additional closed transactions, or, 2) Reaching $500,000 in GCI + 10 closed transactions + reaching the $5,000 qualifying fee.
- Sharing eXp with 7 capping agents per year will result in an additional $18,200 in revenue share. This more than pays for the cap and broker fees you've paid!
support
YES, and then some! Each state has a designated managing broker, and depending on the size of the state, a team of associate brokers to assist. We actually find that my broker support is faster than ever before, because there is more than one broker available one call or chat away in the cloud.
help, I need somebody!
Will I still have a high level of broker support at eXp? I'm nervous about not being able to "walk-in" to my broker's office.
One of the best parts about eXp is that you have the opportunity to mastermind with people nationally/internationally, but many fear that they will lack local support and community if they join a group from another state or country.
Via the Workplace platform, agents have the opportunity to connect with local agents in their city/state and collaborate for showing assistance, local questions, market updates, etc. Outside of COVID-19, there are frequent gatherings sponsored by the state level brokers on a local level as well.
Exp is the fastest growing brokerage in the country, with nearly 1,000 agents moving their business over every month. As of September, 2021, there are over 60,000 agents nationally and internationally.
Local Collaboration
Transaction Support is provided for each transaction to ensure that files are complete and in compliance. Agents use Skyslope to submit documents for review, and they can ask for help or feedback as needed.
Transaction Management
training
Glad you asked! Let's kick off talking about the 60+ hours of corporate training inside of the eXp World. Whether you're a new agent who needs step-by-step instruction or a seasoned agent who wants to brush up on new skills, there's a training for you every week. Let's take a peek at an example - the schedule below is just the first half day on a Tuesday! How amazing is that!?
growth and comfort do not coexist
People keep talking about eXp's training and collaboration, what does that really look like?
New agents who’ve not yet completed three transactions in the previous 12 months will be assigned a mentor upon joining eXp Realty. The mentor is a local real estate agent, who meets a required amount of production to be able to mentor other agents. This mentor is there to help with any questions the new agent may have.
There is an additional 20% split that gets charged to the mentee for these first three transactions. This means agents on the mentor program start out at a 60/40 split. Once the mentee closes three transactions and graduates from the mentor program they go to the typical 80/20 eXp Realty commission split.
Further, there are training series in eXp world every week that help new agents build their business from the ground up. No need to go sit in a traditional office for your first month, take your new agent training on a schedule that works for you! All you have to do is plug in!
Does eXp have training for new agents?
stock
are you a owner of your current brokerage?
There are 3 ways to earn EXPI stock:
- Sustainable Equity Plan: Earn shares on your first transaction, after you fully cap, and when an agent you sponsor closes their first transaction.
- ICON agent award: Earn up to $16,000 in stock upon the achievement of production and cultural goals within your anniversary year.
- Agent Equity Program: Enroll to be paid 5% of every transaction commission with stock at a 10% discount
Give me the scoop on all the stock offerings!
The minute you close your first transaction with eXp Realty, you become an agent-owner of the company. As agents close deals and help grow the business, they can earn eXp stock. Stock is traded on the NASDAQ stock market exchange under ticker symbol EXPI.
teams
teamwork makes the dreamwork
Is eXp a good place for teams?
The best! Not only does eXp offer a "half cap" of $8,000 for members of a structured team, but it also provides team leaders a way to offer diverse revenue streams to their agents.
Healthcare is another reason both teams and brokerages are moving their businesses over to eXp Realty. eXp's Healthcare offerings via Clearwater is among the best offered industry wide.
events
let's get together!
Does eXp Realty have in person events?
- eXp hosts EXPCON, an annual conference, every year. In addition, the fast forward movement has various offerings and trainings that you can attend to network and grow your business.
- Agents local to Atlanta will also enjoy events hosted by our group every month.
