eXp Explained: Exactly how it works

What are the expenses associated with joining eXp Realty?

eXp offers a competitive 80/20 commission split, capped at $16,000. Here's an insider tip other brokers might not share: Once you reach the cap and close an additional 20 transactions within the calendar year, you can receive the full $16,000 back in eXp stock! Feel free to ask me how I acheived this - I've successfully earned back my cap. After reaching the cap, your fe decreases to $285 per transaction, eventually dropping to $75 per transaction. 

 

It's worth nothing that if you run a team, your team agent;s caps can be reduced to as low as $4,000 instead of $16,000. There are also lower costs for spouse teams, and we can delve into the details further. 

What are the income sources available for eXp agents?
1. Transactions : Continue doing what you do best - selling real estate and earning your commission.
2. Referrals: eXp boasts an excellent agent-to-agent referral system, with specific Workplace groups designed for referral needs. Referrals also contribute towards your cap - win/win situation!
3. RevShare - When your colleagues inquire about your move, and if theyu decide to join, you'll start earning a portion of every sale they close until they reach their cap. Remember, rev share comes from eXp, not the agent offering endless opportunities. 
4. Stocks: As a publicly-traded company, eXp awards stocks at various production stages and from agents you attract to the company. You also have the option to purchase stocks at a discount - an automatic savings plan. 
5. Health Insurance: While not a revenue stream, it's crucial for many self-employed individuals. eXp offers health insurance, providing much-needed relief for those in need

What support and training are available for agents on My Team?

If you're a local agent (outside of the Greater Toronto Area, you'll join virtually), you enjoy benefits such as learning from my mindset and productivity coach, regular check-ins to monitor your business progress, access to the numerous SOPs I've created, and in-office training with me and my team. You'll also have access to the resources offered by My Team, eXp national, and eXp state. New agents at eXp receive mentorship assigned by the company. Our eXp brokers are knowledgeable and great to work with, offering approximately 50 different training sessions every week, covering local contracts, new agent training, and insights from top-producing agents on building their business. The collaboration is unmatched, with agents finding so much value in eXp training that they opt out of paid coaching programs.

Here's a recap of the numbers:
80/20 commission split
- $16,000 company cap, then $285 transaction fee (which drops to $75/file after an additional 20 transactions)
- $199 start-up fee
- $139/month Cloud Brokerage fee (includes your own KV Core transaction management system)
- $29 broker review per transaction
Now that you understand how it works at eXp Realty, how can we work together?
Join as a new agent:
Assigned a mentor through eXp Realty
Additional training, guidance, and support from me and my operations manager
Join as a solo agent:
Run your business independently, with me as a mentor and resource for growth
Join as a domestic partnership:
- Run your partnership as you see fit, with my support as a mentor and resource
Join as a team leader:
- Run your team with access to my perfected systems developed over nearly 20 years in the business
Join as a team member under a different team:
- Access everything I provide to my team, from training to coaching, event invites, and more.
Let's Chat about eXp Realty via Zoom
Join as a new agent:Taking the step to talk about eXp Realty is the start of seeing how real estate is being done differently. When you are an agent here, you instantly have thousands of business partners who are focused on seeing you succeed.

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I get it, change can be scary. You know what's scarier? Being comfortable.