Becoming a licensed real estate agent is an exciting career choice and can be the beginning of a very successful real estate career. As a licensed real estate agent, joining a supportive real estate brokerage that provides excellent training and handsome commissions is essential. That’s why many newly licensed agents choose to join EXP Realty.
In addition to the excellent support that real estate agents receive, many added benefits come with joining EXP Realty, whether you are a new or experienced agent looking to switch brokerages.
Benefits of Joining EXP Realty
When you join EXP Realty, you immediately begin to receive a long list of exciting benefits that will help your career skyrocket to success. Some of those benefits include:
- Maximized profit from day one (including revenue sharing & stock awards)
- Local mentorship from a certified EXP mentor
- Dynamic CRM with robust lead generation & transaction management
- The chance to become an Icon Agent
- Live training with top producing agents
- Immediate, tech-savvy support staff
- The chance to join a global family that is location and time flexible
- World-class education from team leaders
- Effective learning platform
- No desk fees or royalty fees
- The option to join a team in the same local geographic area
These EXP Realty benefits are known to attract agents like you, who are looking for rewarding agent experiences. EXP Realty empowers agents to grow their businesses and achieve maximum agent success.
When founded by Glenn Sanford, his vision was to provide revenue sharing, stock awards, and equity opportunities even to new agents.
This business model reflects how well EXP Realty takes care of its many real estate agents, even those new to the EXP Enterprise.
Earn Multiple Income Streams at EXP Realty
Unlike EXP Realty, many real estate brokerages reduce agent commission for new agents, increasing their commission as their sales activity or tenure grows.
However, EXP Realty founder Glenn Sanford wanted to offer maximum commissions to individual agents for their hard work, starting from day one.
In addition to a lucrative commission structure, Glenn Sanford also wanted to provide EXP Realty agents with additional income streams in an effort to maximize their success with EXP Realty.
Commissions
When you join EXP Realty, your commission rate starts at 80%. This means that for every home you sell, you earn 80% of the commission, and EXP keeps the remaining 20%!
Then, once you meet your yearly commission cap of $16,000, you then begin to earn 100% commission, minus agent transaction fees.
With high commission splits and a low yearly commission cap, many real estate agents are excited to join EXP Realty to see what else EXP Realty offers.
Stock Awards
Another great thing about joining EXP Realty is that you get the opportunity to invest and own a portion of the company through stock awards.
When you join EXP Realty, you get an excellent opportunity to build wealth while being vested in EXP World holdings through their advantageous agent equity program.
At EXP Realty, there are five ways to earn stocks:
- When you make your first sale with EXP Realty, you automatically receive $200 worth of EXP stock.
- When an agent you sponsor makes their first sale with EXP Realty, you will receive $400 worth of EXP stock.
- After you meet your yearly commission cap of $16,000, you receive another $400 in stock awards.
- When you reach Icon Status (achieved by specified cultural and transactional goals), your initial $16,000 commission cap is converted into stock for you!
- As an EXP Realty agent, you can use 5% of your commission to purchase stock at a 10% discounted rate.
It is clear that as an EXP agent, the agent equity program is an added benefit that allows you to build wealth and have financial security as you gain real estate experience and your career with EXP flourishes.
Revenue Sharing
The structure of EXP Realty is to sponsor new EXP agents in an effort to grow your team and your business.
As a sponsor of other EXP agents, you have the option to benefit from revenue sharing while creating a strategic partnership with new agents.
There are seven tiers in the revenue-sharing program, with the first tier starting at 3.5%. This is all based on sponsorship and depends on how many agents you sponsor, how many agents they sponsor, and so and so forth.
As a sponsoring agent, you will receive a portion of EXP’s 20% commission when the EXP agent you sponsor gets a new agent to join EXP Realty.
Using this formula will mean no loss to any agent, as the EXP agent keeps 80%.
Additional Income Streams
While high commissions, stock awards, and revenue shares are the primary income streams for EXP agents, there are also additional streams of income that EXP Realty offers.
- America’s Preferred Home Warranty – If your buyer purchases their home warranty through this company, you can receive a $50 referral bonus.
- Utility Connect – This great resource helps your clients activate, disconnect, switch, and manage their utilities at no cost to them. If your client uses this service, you receive 15% of any money spent on their utility service provider.
- Currencies Direct – If you are working with an international client who needs to have their currencies converted, they can use Currencies Direct. If they do, you will receive 2% of the amount converted.
- IntroLend – IntroLend is the in-house mortgage company for EXP Realty. The longer you work as an EXP real estate agent, the more you can buy into IntroLend as an owner. As an investor, you will earn quarterly dividends that vary each year.
- Express Offers Community – You can use this program to sell your client’s home for cash to institutional buyers. Additionally, if you have built a relationship with one of these institutional buyers, you can introduce them to the EXP World. Then, you can earn up to $800 every time they make a purchase, even if it is not from your client.
- Virbela – Virbela is the platform that hosts EXP World and your virtual office space. For every user you introduce to Virbela, you get to pocket 25% of their monthly fee. Using this affiliate program can earn you up to $625 a month! This is a great program to introduce as a team leader to the new EXP agents that you sponsor.
- Mentor/Mentee Program – When a new agent joins EXP Realty, they may have to join as a mentee. If you get the pleasure of becoming a certified EXP mentor to any of these mentees, you will earn 10% of each of your mentee’s first three transactions. This is a great money-making opportunity if you enjoy sharing EXP’s fundamental knowledge with others.
EXP Realty is a fast-growing company that provides its agents with expert-level real estate experience while providing multiple, steady sources of income to its real estate agents.
World-Class Education & Training
A lot of fundamental knowledge is required to be a successful agent at EXP. That’s why EXP Realty is highly revered for its excellent training and educational opportunities.
EXP University offers live training, up to 50 classes per week, all for free. Here, you can get expert training on everything EXP Realty offers, from learning about an independent contractor agreement, understanding agent transaction fees, transaction management, building independent brokerages, and more.
This is a great learning platform for both newly licensed agents and experienced, productive agents to gain a wealth of knowledge on how to successfully build their own EXP Real Estate brokerage.
If you aren’t tech-savvy, don’t fret. EXP Realty offers around-the-clock support to help agents by answering questions and ensuring that their systems function at maximum performance.
Achieve Icon Status
Achieving Icon status at EXP Realty is a significant milestone and a goal for many EXP Realty agents. To achieve this status, EXP agents must meet specific production requirements while representing the company’s core values within 12 months.
Since the Icon program was founded in 2015, hundreds of agents have achieved this elite status. Once an agent has reached this status, they are awarded a long list of exclusive benefits that aren’t offered to the standard EXP agent.
Some of these include more stock in Exp World Holdings and invites to Icon-only events, where Icon holders can network and learn from one another.
How To Achieve Icon Status
Once an agent joins EXP Realty, the countdown begins. They have a 12-month time frame to reach their required sales production goal. Once the agent has achieved the necessary production requirements and adhered to EXP’s core values, they are awarded the exclusive Icon status and gifted with $8,000 in EXP stock.
Once Icon status is achieved, the EXP agents their “Icon Benefit Year.” This is a 12-month period after the Icon is awarded that the agent is guided to complete one of three cultural opportunities.
- Become an EXPand Mentor: This mentoring program teaches new agents the fundamental knowledge necessary to build and grow their real estate careers. As an EXPand mentor, you will provide hands-on training and guide new agents through their first few transactions.
- Become an ICON Instructor at EXP University: This platform allows Icons to act as instructors in the EXP world and train others, providing the training required to become an Icon themselves.
- Participate in ICONversations, ICON Mastermind, ICON Team Talk, and Google Meet Panels: This is where Icon agents meet together to discuss, collaborate, and engage with other EXP Realty Icon agents.
EXP Realty Fees Can’t Be Beat
EXP Realty has a reputation for having no desk fees, no franchise fees, and no royalty fees. There are also no production fees or attraction requirements.
Aside from transaction fees, the only recurring fee at EXP Realty is the monthly fee of $85. This is the cost required to maintain kvCore. SkySlope, EXP Marketing Center, EXP Workplace, and 24/7 access to training and live support.
kvCore is the program that EXP uses for lead generation. Outside of EXP, the cost to use kvCore is over $500, which makes the $85 more than worth it.
EXP Realty Transaction Fees
The most common fee you will be charged at EXP, aside from the monthly fee, is your transaction fee, which is charged with the sale of each home. This fee starts at $250 and varies depending on your sales volume.
EXP Risk Management Fees
Many agents are typically familiar with errors and omission fees, which at EXP Realty are called Risk Management Fees. This fee varies by country, but in the United States, it is $40 per real estate transaction.
Once an agent pays $500 in risk management fees, they are no longer required to pay this fee for the rest of the anniversary year.
Broker Review Fee
All agents in the United States pay a $25 Broker Review Fee per transaction. There is no cap on this fee in the U.S. In Canada, the broker review fee is $29.
Joining EXP Realty IS An Excellent Career Choice
Whether you are an experienced agent, a top producing agent, or a newly licensed agent, choosing the right real estate brokerage for you takes careful consideration.
However, if you are ready to explode your career, joining EXP Realty as a real estate agent is the way to go. From day one, you will receive revenue share, generous commissions, stock options, and a long list of added benefits that you won’t find at a traditional brokerage.
Additionally, you won’t be burdened with high-dollar franchise fees, expensive agent fees, and other costs that traditional brokerages typically charge.
It is 2022 and it is time to be adequately rewarded, the way you deserve, for your hard work. If you are tired of your existing brokerage, join EXP Realty to experience a new generation of real estate. Contact managing broker Traci Gagnon to get answers to your unresolved questions and opt-in to join EXP Realty.
