eXp Realty with over 15000+ agents across the US and Canada has taken partnership to the next level by offering a unique virtual office environment and an amazing revenue sharing eXp model. Here is a list of EXP Realty FAQs which you will not want to miss.
At eXp Realty, there are so many incredible opportunities and tools for real estate agents that there is no looking back. These EXP Realty FAQs will give you an idea of how does eXp Realty work and the reasons why so many agents want to join eXp Realty.
EXP Realty FAQs – At A Glance!
What is company CAP?
eXp Realty takes 20% per commission check till you pay a $16000 CAP. Post the CAP, agents just have to pay $250 transaction fee for 20 transactions and once you have paid $5000 in transaction fees, eXp Realty grants you $16000 back in stock shares. Out of which $4000 is available immediately and the balance $12000 is vested for 3 years.
What is revenue sharing?
The company does not have a lot of overhead like traditional brokerage. Hence the agents who help the company grow can get almost half of the 20% split.
Do I need to pay multiple fees if I am licensed in multiple states?
No, you just need to give $85 p.m. to eXp Realty national brokerage.
Do I need to recruit agents?
Not required, it’s completely up to you. Most of the agents at eXp Realty have agent friends and co-op agents.
What is the franchise or royalty fees?
None. eXp Realty is a nationally owned brokerage, hence no franchises.
What is the revenue share that the agents can earn?
Every real estate agent that you personally introduce to the company, you will receive up to $2800 per year. Also, if you have agents who introduce more agents then you can earn a percentage of their sale.
When do you receive revenue share?
You get revenue share on 22nd of each month of the previous month.
EXP Realty FAQs Continued!
How are the earnings tracked?
The company has created a system called Enterprise that allows agents to have a real-time view of all their earnings. Agents can see their stock awards, sales data, and revenue share for the next month.
Where is eXp stock traded?
eXp Realty stock is traded in OTC markets.
What is eXp training like?
The company offers a full array of training every week and presently it is over 15 hours a week.
What kind of tools are provided to agents?
There is a wide range of tools that are provided to agents such as-
- Free Kunversion IDX website
- Free commission Inc. website
- For recruiting, agents get a free eXp agent attraction website
- Free eXp branded Google apps for email, storage, Hangout, and YouTube
- Free Hello fax number
- eXp world cloud campus
- Regus worldwide membership
- KvCore- a free contact management system
Where do I contact if I need help with something?
eXp Realty offers an abundance of resources to agents who need assistance. Your mentor, sponsor or broker can answer many questions for you. You can also go to the virtual office and visit the technology team, the accounting department and more. The virtual office is opened for almost 10-12 hours making it convenient for the agents to interact.
If you think any EXP Realty FAQs are missing, contact us today!