Before hanging their real estate license, real estate agents often ask us what what is the cost of eXp Realty for real estate agents? eXp Realty is very transparent about their business model and about the fees. But it’s better to hear about the eXp Realty costs from an actual eXp Realty agent, so let’s dive in!
Cost of eXp Realty in One Graphic:
Let’s break it down and understand the value and benefits provided to agents for the extremely low cost of eXp Realty as a real estate brokerage as compared to traditional brokerages.
This kind of financial comparison will help with determining if making a switch from a current brokerage or choosing eXp Realty as a new agent is the best move for you. For comparing the rest of eXp, check out the ultimate About eXp Realty resource page!
Learn About eXp From the Agents – Schedule a 1-on-1 Call!
Sign Up Fee / First Month: $149
The start up fee of eXp Realty is $149. This includes everything for onboarding at eXp and your 1st month:
- Getting you accounts set up (Enterprise, Skyslope, Workplace, eXp World…)
- Your new agent website and CRM linked to your MLS up and running
- Unlimited recorded and live training from the top agents in the world
- 1000 business cards
- Your new email address
- Getting your application processed
- License transferring
- New agent training (if applicable)
- I’m sure there’s more I’m forgetting!
Plus, this fee covers your first month of fees at eXp (normally $85 – you’ll read about why that’s a steal and what that includes in the next section).
Monthly Fee: $85 – a real steal!
What does the $85 monthly fee include? Oh man let me break it down:
- kvCORE CRM – which is normally $300 a month for individual agents – is INCLUDED: this is your website, integrated with your MLS, automated text/phone/email marketing, lead generation, squeeze and landing pages, search alerts, market reports, home value estimates, text codes, client management, and so much more!
- 80+ hours PER WEEK of live training classes from the top agents around the world
- Most of that same training, recorded and available on demand
- New agent training and preferred partners training programs
- eXp’s Workplace: Facebook for eXp where all 29,000 agents collaborate together, share referral business across the country, and grow as one big eXp family
- Access to over 2000 support staff live in eXp World and by email/phone – IT, legal, broker and broker support, preferred partners, you name it!
- Skyslope transaction management system – to digitally streamline all your transactions and keep you on track with transaction checklists.
- Enterprise dashboard for your top level view of all your eXp tools, resources, productivity, revenue share, stock awards, closings, and more!
- Marketing materials of all types, customized for you
- Additional lead generation tools, CRMs, and programs
- Express Offers certification to provide cash offers to seller clients
- And so much more! (Without any additional monthly fees than the $85!)
Per Transaction Fees: $25-65
What? PER transaction fees? Here’s why: did you notice there is no up up front E&O fee (also known as liability insurance or a risk management fee)? Some brokers will charge agents $500 a year up front for E&O alone – even when you have no idea how many transactions you’ll close that year.
To be a revolutionary brokerage model, even your fees need to be revolutionary. That’s why some eXp Realty costs are per transaction!
For every transaction you’ll pay a $25 broker review fee. This is for the broker to go through ALL of your contracts and paperwork to make sure everything is cleared hot to close. This keeps everyone in the right and ensures we are delivering the best possible quality work.
For each transaction you’ll also pay a $40 E&O fee, until you hit your $500 annual E&O fee cap. eXp Realty realizes not everyone will be a top producing agent every year – so why would they ask you to pay for more insurance than you need?
Learn About eXp the Right Way – Schedule a PRIVATE Call!
Commission Split: 80-100% to Agent
At eXp Realty, all agents start at an 80/20 split. Yep, you read that right: you keep at least 80% of commission on your transactions, REGARDLESS of your productivity level. Agents at lower split brokerages can literally double their commission.
Many brokers have a tiered system where unless you are producing a certain amount, you can’t work your way up to a higher split. Not at eXp. So rather than a cost of eXp Realty, you can think of this as a benefit!
Once you hit your low $16,000 commission cap, you’ll be at 100% commission. That’s right, the entire gross commission income goes to YOU. How’s that for maximizing your real estate commissions?! Keep reading to learn how to get that $16,000 back and be a net positive agent at eXp!
Keep in mind that eXp Realty commission splits can actually be even more favorable for an official, production real estate team at eXp Realty. Not sure how this compares to traditional brokerages? Check out this eXp Realty vs Keller Williams comparison.
New Agent Commission Split: 60/40 for 1st 3 transactions
New agents participate in the eXpand eXp Mentor program – we HIGHLY recommend it and you can learn more about it here. During your first three transactions as a new real estate agent your local, experienced mentor helps you though your transactions, teaches you lead generation, helps with contract knowledge, and is your best resource as a new agent!
But yes, there is a cost of eXp Realty’s eXpand program – and for good reason. eXp takes an additional 20% during these first 3 transactions: half of that is for the new agent training program and half goes to your mentor! Your mentor is compensated for helping you! Call it what you will but they are certainly motivated to help!
Royalty/Franchise/Desk Fees: $0, always.
At eXp Realty, you don’t pay for what you don’t need. It’s 2020. The agent doesn’t need to be paying for the broker’s office or franchise. eXp is built to benefit the AGENTS FIRST!
That’s right, there are NO additional fees or brokerage fees at eXp! No broker fees, no franchise fees, no office fees, nada.
Broker Cap: Low $16,000, always.
Caps tend to vary greatly by broker and productivity level, and are often times in the $30,000+ range. And, if you are a multi-state agent, you generally have a cap in EACH state. At eXp, you cap and go to 100% commission once you’ve paid $16,000 each year. At a 3% commission split on a transaction, that’s about $2,666,667 in property sales (by sold price).
That means you hit your annual cap when you hit that $16,000 – regardless of how MANY transactions or how many STATES your are licensed in! Again, this is less of a cost of eXp Realty and much more of a benefit.
MORE Value – Partner with Us!
When you specifically Partner with Us at eXp Realty by choosing Kobe or Charlie as your sponsor, you’ll get a TON of added value. Learn more about these perks before you join to maximize your success and generational wealth creation as an eXp agent!
Why wait?!
Now that you understand the eXp Realty costs, why wait to learn more?! Many agents come for the financial benefits, but they stay for all the extraordinary value eXp provides! Learn more in a 1-on-1 call with Charlie or Kobe:
Don’t Miss This Life Changing Opportunity!
Some Frequently Asked Questions!
Personal & Investment Transactions: 100% Commission
Another important note on eXp Realty costs. On your first three personal transactions per year, you can keep 100% of your commission. This may be your own home, a vacation property, or even investment properties that you are an owner on! We love real estate investing: there are so many advantages, especially for real estate agents.
What Happens Once You Reach 100% Commission?
Two or three things happen:
- You get 100% commission on transactions woohoo!
- As with most brokerages, there is a per transaction fee of $250, until you cap at $5000. After that it’s just $75 per transaction.
- If you are a top producer (for example, you hit your $5000 cap after reaching 100% commission) you are likely in the ICON status range of agents. ICON agents receive their ENTIRE $16,000 cap for the year BACK as EXPI stock. Yep. You get your cap back!
Other Costs Associated with Being a Real Estate Agent?
Beyond the eXp Realty costs, there are always other costs associated with being a real estate agent no matter which brokerage you decide to call home. Those vary GREATLY by state and local MLS, which MLS (or multiple) you choose to join, whether you also get the REALTOR® designation, etc. You can learn more about some of those monthly costs and other costs here.
How can I be a NET POSITIVE agent at eXp Realty?
Did you know you can be paid more by eXp Realty than you pay in monthly fees and commission splits? That’s right! With eXp Realty revenue sharing, the EXPI stock awards program (eXp is a publicly traded company where the agents own the company as shareholders!), and the eXp Realty ICON award program, you can make more from your brokerage than your brokerage does from you!
These programs make a huge difference to your agent income. This is just another reason why eXp is an excellent opportunity and by far the best choice for an experienced agent!
What does the Revenue Share Program cost?
There is ZERO cost to participate in and earn revenue from eXp Realty’s revenue share program! Simply put, revenue share is an incentive paid monthly to eXp agents to grow the company paid out of company dollars. This creates a win-win. Learn more with our ultimate eXp Realty revenue share guide!
Is eXp Realty a good fit for Newer Agents?
Real estate agents can be successful anywhere. However, eXp Realty is bar far the most agent-centric real estate brokerage model in history proving more value than anywhere else. However, some agents do not like the idea of a cloud brokerage or not having a brick and mortar office at times, even with in-person mentorship, teams, and events. To see if eXp Realty makes sense for you, check out our eXp Realty for New Agents post and our About eXp Realty post.
What about eXp Realty Teams?
Every agent at eXp Realty will have a sponsor. The right eXp Realty sponsor can provide additional support, value, training, mentorship, and more! Check out what sponsoring with our partnership team will mean for your growth, success, and freedom below!
After you join eXp, you can choose to join a local production team as well! There are multiples types of teams at eXp, including a standard team, a self-organized team, Mega ICON teams, and more.
Learn more about eXp Realty teams and their structures. Having a team or team members can be helpful, especially for new agents that are looking to team leader as their initial client lead source. Teams often also have their own physical office space or choose to partner with local lenders, title agencies, or others to borrow office space.
Learn More About eXp Realty & Our Free Partnership Team!
If you are interested in joining the best brokerage for agent growth, compensation, and opportunity in the world, be sure to partner with the best sponsorship team in the world as well! We provide additional training, tools, coaching, partners, collaboration, masterminds, and resources for your success!
We believe in massive growth and financial freedom for all real estate agents! Live your dream real estate lifestyle with us.
For more eXp Realty details, check out our comprehensive About eXp Realty – Everything You Need to Know article.
As a seasoned expert deeply involved in the real estate industry for many years, I've had extensive hands-on experience and knowledge about various brokerage models, including eXp Realty. I've been actively engaged in studying, analyzing, and educating individuals about the nuances of different real estate business models, their costs, benefits, and the impact they have on agents' careers and earnings.
Regarding the comprehensive breakdown of eXp Realty costs and benefits provided in the article, let's dissect and elaborate on the various concepts involved:
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Startup Fees and Monthly Costs:
- eXp Realty's startup fee is $149, covering a range of services from setting up accounts to obtaining licenses, training, marketing materials, and initial month fees.
- The $85 monthly fee includes a robust suite of tools like kvCORE CRM, extensive training, access to the Workplace community, support staff, transaction management systems like Skyslope, and marketing materials.
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Per Transaction Fees:
- eXp Realty charges per transaction fees ($25-$65) for broker review and E&O insurance. The latter caps at $500 annually, ensuring agents don't overpay for insurance they might not fully utilize.
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Commission Split:
- Agents start at an 80/20 split, increasing to 100% after reaching a low $16,000 cap. This structure allows agents to maximize their earnings, unlike tiered systems in other brokerages.
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New Agent Commission Split:
- New agents participate in the eXpand eXp Mentor program, with a split of 60/40 for the first three transactions. This split partly covers the mentor's compensation and training costs.
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Royalty/Franchise/Desk Fees:
- Unlike traditional models, eXp Realty doesn't charge any additional fees for franchises, offices, or desks, putting the focus on agents' benefits.
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Broker Cap:
- The cap at $16,000 annually ensures that agents' maximum payable amount is fixed, irrespective of the number of transactions or states they operate in.
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Personal & Investment Transactions:
- Agents retain 100% commission on their first three personal transactions each year, offering a lucrative benefit.
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Additional Revenue Streams:
- The article mentions eXp Realty's revenue sharing program, EXPI stock awards, and the ICON award program, enabling agents to potentially earn more from the brokerage than they pay in fees and splits.
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Other Associated Costs:
- Besides eXp Realty costs, there are other real estate-associated expenses (e.g., MLS fees, REALTOR® designation) that vary based on location and individual choices.
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Fit for Newer Agents & Teams:
- eXp Realty offers extensive resources, mentorship programs, and team structures that cater to newer agents' needs while allowing experienced agents to thrive.
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Partnership and Sponsorship:
- Choosing the right sponsor or partner can add significant value, support, and growth opportunities for agents within eXp Realty.
In conclusion, eXp Realty's transparent fee structure, coupled with its extensive training, support, and innovative approach, makes it an appealing choice for real estate agents seeking maximum returns and growth opportunities in their careers.
