eXp Realty is the largest residential real estate brokerage by geography in North America. It is also one of the fastest-growing firms with more than 30,000 agents across North America, Canada, the United Kingdom and Australia.
eXp Realty was founded by Glenn Sanford, a former top Keller Williams agent who realized that a cloud-based brokerage that offered revenue share was the future of real estate.
eXp Realty was incorporated in 2009.
eXp Realty is agent-owned meaning that agents acquire stock in the company and have a vested ownership in the brokerage. There are 5 ways that agents can acquire stock, from simply purchasing it to achieving certain performance benchmarks.
A cloud brokerage is a brokerage that does not have physical offices and conducts business entirely on the Internet. Think of Amazon. They are a cloud company. They have minimal physical stores (Whole Foods, which they recently acquired), yet they’ve disrupted the entire brick and mortar retail industry!
We are 100% cloud-based, every employee, agent and broker works from home or a remote office space. The company realizes a tremendous savings and is able to pass on the savings to agents in lowered costs.
We have that covered. eXp Realty has an agreement with Regus Corporate Suites Worldwide to provide free access to their business lobbies. You can actually use ANY location worldwide for FREE - and there are more than 3000 locations!
You can also opt to meet your clients at your favorite title/escrow office or lender office.
We are currently operating in all 50 states, Canada, Australia and the UK. With plans to further our international footprint.
Yes, we currently have residential, commercial, REO, and a luxury division.
Each state has at least one state broker. Some larger states also have several managing brokers to help with reviewing files.
For every agent that you introduce to and joins eXp Realty, you will receive a portion of their annual commissions, paid from eXp’s 20% split. You will also receive revenue from agents that they attract up to 7 levels deep. The revenue share component of eXp Realty is the way you can create residual income streams even after you stop selling real estate (retirement income). Rev share is one of the most compelling reasons agents join eXp Realty.
Even if you aren't interested in focusing on agent attraction, we will help you grow your revenue share group!
Simple. Introduce eXp Realty to other agents that you know. If they join, you become their sponsor and you will receive up to $2800 annually from each of them (3.5% of GCI until they cap). You will also get rev share from whoever they recruit, all the way down to 7 levels.
For every agent you personally recruit (your first line) you can earn up to $2800 annually if they cap. There’s no limit to the amount of revenue share you can earn!
No. It’s up to you. However, there is a great opportunity to build passive income if you do attract agents to eXp Realty.
We have found that about half of the agents who partner with The Broker's Edge want to recruit and the other half just want to sell real estate (and some want to do both). We recommend you stick with what you are good at.
If you don’t like recruiting, then you don’t have to. The cool thing is, if someone IS interested, you can simply send them a few videos to watch and then we'll talk to them for you! That way we can help you build your revenue share group, and all you have to do is have them talk to us - LOL. If they decide to join they go under YOU.
There are 4 main reasons to join eXp:
1. Better split/smaller cap/no royalty fee (so you keep more of your money).
2. Dashboard/backend is a lot more user friendly (and you get paid at the closing table).
3. Stock Options (agent owned and you can earn stock in 5 different ways).
4. Revenue Share (all the CAPs paid in to the company are paid back out to the agents).
PLUS...
5. MUCH better for Teams - because you can operate in multiple cities or states for the same monthly fee and just ONE CAP.
Everyone at eXp Realty has a split of 80/20 until the $16,000 cap is achieved, at which time you go to 100% split for the remainder of your anniversary year.
No! Since eXp is a National brokerage (not a franchise) you only pay one annual CAP. Even if you sell real estate in other states – you will still just have a $16,000 CAP. For example, you could sell real estate in Hawaii, California and Nevada (providing you have a license and all those states) – and you would only pay $16,000 total. This is a huge benefit over other brokerages.
eXp stock is traded on the NASDAQ stock market exchange. The ticker symbol is EXPI.
When you start at eXp Realty you pay a one time $149 fee. With this fee you get 1000 business cards and 20 folders, plus it includes you your first month's fees.
Once you are an agent affiliated with eXp Realty you only pay $85 per month. That’s it!
No, we don’t, and there are no desk fees either.
Oh Yeah!!! eXp Realty offers 60+ hours of live training every week, plus a full library of on-demand training through our eXp University.
eXp is an obvious fit for seasoned agents, but some agents wonder if the model works well for newer agents.
Yes, the eXp model works wonderfully for new agents provided you have the right Sponsor.
The model doesn't work so well if you don't have a sponsor who is dedicated to your success.
When you work with a cloud based company there are pros and cons. One of the cons for very new agents is they don’t have folks they can bump into in the hallway or at the water cooler and ask questions.
So if you don’t have a good mentor it can feel as if you are on an island. That’s why when you join you are a member of the Broker's Edge team and our amazing tools and training.
This is an EXTRA perk for you because when you are introducing folks to eXp - you can tell them that they also get The Broker's Edge benefits as an additional incentive. This will make your recruiting efforts that much easier.
So yes, eXp is an amazing company for brand new agents as well - providing they have a sponsor dedicated to their success.
Joining eXp is really simple. Everything is done online (and you don’t have to involve your brokerage - unless you want to). We know goodbyes can sometimes be awkward.
1. Fill Out the Application Form, CLICK HERE to Apply as an Agent. When filling it out list Ron Harmon as your "Sponsor" to get full access to The Broker's Edge.
2. You will get a few onboarding emails from eXp and the last one will be to transfer your license online. It's super simple and eXp will send you step-by-step instructions.
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