FAQ

What is eXp Realty?

eXp Realty is the nation's first "Agent Owned Cloud Brokerage".

Who started eXp?

Glenn Sanford is the founder of eXp Realty. Glenn Sanford was a former Keller Williams agent who realized that a cloud based brokerage that offered revenue share was the future of real estate.

When was eXp Realty started?

eXp Realty was incorporated in 2009.

What does "Agent Owned" mean?

eXp Realty is agent owned meaning that agents can acquire stock in the company and have a vested ownership in the brokerage. There are 6 ways that agents can acquire stock, from simply purchasing it to achieving certain performance benchmarks.

What is a cloud brokerage?

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 no physical stores yet they sell a heck of a lot of merchandise!

Are there really no brick and mortar offices?

It depends on the state. Recently a lot of big teams who have space have flocked to exp Realty. So it's possible you might be able to use their space or work something out with them for nominal fee. Other than that, every 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.

What if I need to occasionally need a physical office?

We have that covered. eXp Realty has an agreement with Regus Business Lounges Worldwide to provide free access to their facilities.

Where does eXp Realty operate?

We are currently operating in 50 states in Canada, Puerto Rico, Brazil, United Kingdom, Frances, South Africa, India, Hong Kong, Australia and growing. 

Are there different divisions at eXp Realty?

Yes, we currently have residential, commercial, REO, and a luxury division.

Who is the broker for eXp Realty?

Each state has one state broker. Some larger states also have compliance brokers to help with reviewing files. In the eXp World Broker Room, you have access to all of the brokers.

How many agents does eXp Realty have?

We are constantly growing but as of this post we have over 50,000 agents. We have doubled in size in just the last seven months. We are the fastest growing brokerage in the world right now.

What is revenue share?

For every agent that you introduce to and joins eXp Realty, you will receive a portion of their annual commissions. You will also receive revenue from agents they recruit up to 7 levels deep. The revenue share component of eXp Realty is the way you can create income even after you stop selling real estate. Rev share is one of the most compelling reasons agents join eXp Realty.

How does an agent build rev share?

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 them if they cap. You will also get rev share from whomever they recruit. All the way down to 7 levels.

How much rev share can we earn?

Well, for every agent you personally recruit (your first line) you get up to $2800 annually if they cap. See the chart above to see what you can earn for 2nd -7th levels.

Do I have to recruit agents?

No. It's up to you. However, there is a great opportunity to build passive income if you do attract agents to eXp Realty. Ask your sponsor for help.

What is the split?

Everyone at eXp Realty has a split of 80/20 until the cap of $16,000 is met.

What is the cap/commission split.

At eXp everyone is on an 80/20 commission split- Capped at $16,000 annually. Once you have paid $16,000 in company dollar, you will earn 100% commission until your anniversary date.

The only exception to this is the reduced CAP option for qualified members of a team.

The Cap (maximum Company Dollar Payable) is $16,000 per agent per anniversary year. This is paid in on an 80/20 split by the agent beginning with their initial transaction. This cap resets each anniversary year for the agent.

Does eXp Realty charge an annual "Royalty Fee" like some companies?

No, they don't, and of course there are no desk fees either.

Where is eXp stock traded?

EXP is traded on Nasdaq as EXPI. Here is the link: https://www.marketwatch.com/investing/stock/expi

What is the ticker symbol?

The ticker symbol is EXPI.

What is the eXp cloud campus?

The cloud campus, also known as "eXp World" is our virtual world where agents and staff meet on the web for training, collaboration, meetings, and support. You can join and tour our campus for free. Go here to download the app and get your avatar.

Is there training?

eXp Realty offers a full array of training offered ever week. Currently over 55 hours a week.

Where are meetings held?

All of our meetings are held in the eXp Cloud Campus. We have everything from a large auditorium to small intimate spaces to meet clients.

Does eXp Realty have conferences?

Yes, eXpCon is our annual conference held in different cities. Past conferences were held in Las Vegas, Chicago, and San Antonio. We are excited to announce eXpCon is going to be in New Orleans in Oct 2018! We also have annual ownership meetings for stockholders.

What tools are available to agents?

eXp Realty offers a wide array of tools for agents including:

• A free Kunversion IDX Website

• An free eXp Agent Attraction Website for recruiting

• A free Hello Fax Number

• Free eXp branded Google Apps for work , email, storage, Youtube, and Hangout

• eXp World cloud campus

• Regus Worldwide Membership

• Skyslope Transaction Management Platform

• Free Contact Management System KvCore

What kind of agent support do you offer?

eXp Realty offers superior agent support. Each state or region has an "agent services" person and a transaction coordinator. You simply log in to eXp World and go to the department you are looking for and ask for help.

What is the process of joining eXp Realty?

Easy, get with the person that sent you to this site and then just go here https://join.exprealty.com and fill out the simple application. Then the agent services department will start the quick onboarding process and send you the independent contractor agreement.What does exp stand for?

What does eXp Stand for?

Technically, the biggest reason that eXp was chosen as the company name was that it was a name that was available in all 50 states and not already registered as a company name. It is also creatively used in many words we can play with in our marketing pieces; eXpertise, eXperience, eXponential growth etc.

A lot of times when I get the question, "what does eXp stand for", I will reply with- "whatever you want it to", and then I elaborate with the information I shared in the last response. ;)

How long has EXP been in business?

In 2009, Genn Sanford founded the first cloud-based brokerage- eXp Realty. The majority of the growth has occurred in the past 3-4 years.

What kind of tech support do you offer?

eXp Realty has a whole division that offers tech support. Need help with eXp email? Questions about Word press? Wondering how to use Google apps? We got you covered. Live tech support is located in the eXp Cloud Campus.

Will I have access to my broker?

Absolutely.  One of the great things about eXp is the level of direct and instant support.  There are several ways to get in contact with your state broker.

eXp Realty has at least a Managing Broker in each State and Province it operates in. As eXp Realty expands and adds additional agents, the Managing Broker will add additional Supervisory Brokers and administrative staff to support the agents in the state/province.

1) In eXp World, each state has a broker room where one or more of the state brokers is usually there as an avatar to field questions.  All you need to do is log in to eXp world and click on the "go to" menu in the top left hand corner of the screen and scroll down to "broker room" to then click on your state.  
2)  Workplace by Facebook is also a great way to contact your broker.  There is a direct messaging function in the workplace application where you can instantly send your broker a question.  It has been my experience that most state brokers' response time is very quick on workplace.
3) Call, email, or text.  They will respond in a timely manner.

I am a new agent, is there training for new agents?

Yes, eXp Realty offers training for new and experienced agents. For new agents with less than 5 completed transactions who join the company, eXp Realty offers a comprehensive Expand Mentoring Program where the new agent will work closely with a hand selected Certified Mentor in their local marketplace. This Mentor will work with the new agent to complete at least 3 transactions as well as completing a robust mentoring curriculum with the new agent. In addition, eXp Realty offers many training classes designed to rapidly transform a newer agent into a productive agent.

New agents are paired with a mentor and also go through training within the eXpand mentor program at eXp.

In addition to the mentor program training, there are over 50 hours of ongoing training each week in eXp world.  Here is the link to more information on the Mentor program.

What are the monthly fees?

As it stands currently the monthly fees are:

• $50/ month for technology (covers things like your access to eXp World as well as your kv core site)

• $35/ month for education (covers access to over 50 hours a week of live training and education in eXp World)

Altogether, the combined monthly fee is $85/month for an agent with eXp Realty.

How does the ICON program work?

The eXp Realty ICON Agent Award is aimed at attracting and incentivizing top agents into eXp Realty. The award provides each qualified ?ICON? with up to sixteen thousand dollars ($16,000) in publicly traded eXp World Holdings common stock upon the achievement of certain production and attendance goals within an agent?s anniversary year. The Company?s cap is presently set at $16,000. ICONs effectively earn up to their entire cap amount back in the form of public company investment.

Cultural goal: Demonstrates company culture through giving back by: Teaching a class, serving on a panel or serving on a committee; and

• Cultural goal: Demonstrates a willingness to promote eXp Realty within their community.

• Production requirement: $16,000 paid in company cap plus capped status transactions in the same anniversary year resulting in capped status transaction fees of not less than $5,000, OR

• Production requirement: Annual gross commission income of $500,000 or more with a minimum of 10 closed transactions and payment of an ?ICON Qualifying Fee? equal to $5,000 less capped transaction fees paid during the same anniversary year.

$12,000 in publicly traded eXp World Holdings common stock is awarded and vests after three years, and an additional $2,000 will be issued after verified attendance at each company event (The eXp Shareholder Summit and EXPCON) with no vesting period, for a possible total of $4,000.

ICON Program Details: Link to eXp Family Tree IKON Page

What CRM does EXP offer?

KV Core, formally Kunversion.  It normally would cost an agent $1,000 to get and around $400.00 a month.  At eXp it is included with our monthly tech fee of only $50.00.  It is a your website, CRM, IDX platform all in one. 

Here is a helpful link for several quick 2-5 min videos that explain what the kv core platform is capable of.  Click on the link below and then click on the first video.  From there, you should also see an additional series of videos that you can watch, separated by category.

https://insiderealestate.com/kv-core-quick-demo/

Is EXP a franchise?

no.  eXp is one corporation, not a franchise. 

See attachment for a marketing piece with additional info on "one brokerage - not a franchise"  You can download your own personalized marketing pieces in the eXp marketing center.

eXp Realty is a single national brokerage company that operates in all 50 States and key provinces in Canada.

How do I acquire stock?

There are several ways to acquire stock at eXp.

- you are awarded $200 worth of eXp stock when you close on your first transaction of every year.

- you are awarded $400 worth of eXp stock when you CAP each year.  (80/20 split - when the 20% paid to eXp equals $16,000 you are CAPPED and earn 100% commission through the remainder of your anniversary year)

- you are awarded $400 worth of eXp stock when an agent that you attract to the company closes on their first transaction.

These 3 awards (above) vest 3 years from the date that you are awarded the stock.

The direct purchase program is optional for agents, but I highly recommend enrolling.  If you opt in, 5% of your commissions will be used to purchase eXp stock at a 20% discount.  You instantly make 20% on your investment.  No vesting period on direct purchase program.  You own it outright.  

ICON program

Two production benchmarks to qualify

1)  Sell 20 transactions AFTER you CAP in your anniversary year period.  (Can be buy/sell/rent/referral)

2) Earn $500,000 GCI

In addition, meet company cultural criteria of attending shareholders meeting, eXp Con.  Also be willing to come from a place of contribution towards all other eXp agents, brokers, and staff by doing things like sitting on the ICONversations panel in eXp world. 

The stock award for the ICON program is $16,000 in eXp stock.  ($4,000 is yours at the time the stock is awarded and $12,000 vests in 3 years.

Sustainable Equity Plan

In 2013, eXp Realty became a public company for the primary purpose of sharing equity with its agents. Shortly thereafter, the company introduced the industry?s first Agent Equity Award program for those who reached certain milestones. 

The Sustainable Equity Plan is as follows:*

• First completed transaction with eXp Realty: $200 worth of eXp World Holdings common stock.

• When agent caps: $400 worth of eXp World Holdings common stock.

• For directly attracting another agent to the company and upon the closing of that agent?s first transaction with eXp Realty: $400 worth of eXp World Holdings common stock.

• When named an ICON agent:** Up to $16,000 worth of of eXp World Holdings common stock, eligible on a yearly basis. $12,000 is awarded and vests after three years, and an additional $2,000 will be issued after each company event (The eXp Shareholder Summit and EXPCON) with no vesting period, for a possible total of $4,000.

• All stock grants will be priced based on the closing market price of EXPI?s common stock on the last trading day of the qualification month.

• All equity will have an award date, which is the month an agent qualifies for an award. Agent must remain with the company in good standing for a period of three years from the award date. For attraction awards, sponsoring agent and the agent who joins and closed their first transaction must both remain in good standing with the company for a period of three years from the award date.

How long do I have to wait to get paid after closing?

You will be paid at closing, or as quickly after closing as is typical in your state.  

*You just need to be sure that all of your documents are signed and uploaded to skyslope in your transaction checklist in a timely manner.  Once your file is complete and approved in skyslope, you will be issued your DA for closing.  As long as this is completed by closing then there should be no issue for you to be paid at closing.  

eXp Realty pays its agents in one of two manners (depending on the convention and whether available under regulations in a given State that the agent conducts practice in).  eXp Realty pays agents on transactions either via a Distribution Authorization (DA) or via ACH (Escrow/Title States & Provinces).  DA's are issued when allowed prior to close and provide for direct payment to the agent at closing.  In escrow states, the check is paid for the closing directly to eXp Realty. Once received, eXp Realty will deposit (via ACH) into the agent's account in a timely manner.

Note: Payment via DA or in a timely manner in Escrow transactions requires the agent to have a clear file in Skyslope prior to closing (at least 48 hours prior for DA's). 

Are there any EXP physical offices?

eXp Realty does NOT operate any physical offices. It is a cloud based brokerage operation.  eXp Realty agents have access to co-work space in Regus Executive Suites nationwide at no cost.  http://www.regus.com/

Many agents, teams, and small brokerages who have come over have decided to lease their own office space at the location of their choice and put up an exp logo on the signage as well.  (As long as the signage is compliant with eXp marketing department).

Also for those interested in physical office space, eXp Realty has entered into a partnership with Regus Business Lounges, giving its cloud-based agents space on the ground to meet clients or have a place to call home while on the go.

eXp Realty agents have free access to Business Lounges in more than 1200 locations across the globe ? including most US states, 95 countries and such exotic vacation spots as Cape Town, Dubai and Monte Carlo.

Regus Locations include fully-equipped offices and professional administrative support from center teams as well as access to Wi-Fi. meeting rooms, day offices and video communications.  The Regus Business Lounges are free to all eXp Agents with a Regus Card or copy of their Temporary ID #.

Short Use Day Offices, Meeting Rooms, Print/Fax Services, Mail Handling and Designated Cubicles or Co-Working spaces are available at a discounted rate through Regus. All services, other than the business lounge, will incur additional charges which will be billed to the agent by eXp Realty if not paid directly to Regus at the time of the visit. Another plus for eXp Agents ? Regus Locations are a great place to network.

What if I need a physical office?

eXp Realty agents have free access to Business Lounges in more than 1200 locations across the globe ? including most US states, 95 countries and such exotic vacation spots as Cape Town, Dubai and Monte Carlo.

Regus Locations include fully-equipped offices and professional administrative support from center teams as well as access to Wi-Fi. meeting rooms, day offices and video communications.  The Regus Business Lounges are free to all eXp Agents with a Regus Card or copy of their Temporary ID #.

Short Use Day Offices, Meeting Rooms, Print/Fax Services, Mail Handling and Designated Cubicles or Co-Working spaces are available at a discounted rate through Regus. All services, other than the business lounge, will incur additional charges which will be billed to the agent by eXp Realty if not paid directly to Regus at the time of the visit. Another plus for eXp Agents ? Regus Locations are a great place to network!

About Regus

Regus is the world?s largest provider of flexible workplaces. Over a million customers a day benefit from our locations spread across almost 100 countries. With our ever expanding range of innovative products and services we enable people to work their way whether it?s from home, on the road or from an office. Visit regus.com for more information.

Besides Regus as an option, many exp agents have decided to lease their own office space at a location of their choice.

How do the commission splits work with my licensed staff/ team members?

Link to eXp Family Tree Teams and Brokerages

What steps are required to move my license?

1)  The first step is to go to join.exprealty.com.  The application to initiate the entire process is found on that site and it only takes a couple of minutes.  Filling out the application does not commit you to join exp realty; it simply initiates the next step.  

2)  After you fill out the join application, you should expect to receive your signing documents via email.  This will include your independent contractor agreement (ICA).  Nothing is official until you sign that document.  That is also where you will list your sponsor for revenue share purposes.

3)  Next, you will follow the process in your state for requesting the change of sponsorship to eXp realty from your current brokerage, and then the exp state broker will accept your license.  (it is at this point that you are legal to do business at eXp realty.  If you do not know your state's process for this, then reach out to the state broker.

4)  You will also want to make sure that your mls board knows you are changing brokers and you will transfer any listings you have with your board as well.  You can get forms for those transfers from your local board of realtors, or many times the state brokers will have the forms signed and ready to go for you.  

5)  The final step in onboarding will be receiving your welcome email that has your eXp passport login.  This will allow you to access all of your exp systems including; eXp world, eXp Enterprise, and Skyslope (transaction management).

****order any signage and marketing materials that you might need, but you will get a coupon code to order 1,000 business cards for free with your welcome email.

eXp Realty has a comprehensive onboarding process that is outlined here.

eXp Realty Onboarding Checklist & Process

What if I have current listings?

Always advise that they look at their previous brokerage's ICA (Indpendent Contractors Agreement) that they signed to make sure they know exactly how the brokerage handles transfers of listings.  Typically speaking, if listings are under contract, then they will close with their prior brokerage, but they will still get paid their split of commission at closing.  If they have listings that are not under contract, they can usually take those with them to exp.  Again, consult the ICA that was signed.  

I have paid most of my cap with my old broker, is there any sort of cap grant?

Yes, there are grants available upon approval.  The incoming agent will just need to fill out the form in the attachment completely, and send it along with proof of production for the last 12 months to attractionservices@exprealty.com.

I am a broker, can I keep my brokerage 'brand'?

Yes, you can keep your brand and brand yourself however you want to as long as you are in compliance with your state marketing laws.  Most brokerages that come to eXp keep their brand and just add the tagline, "brokered by eXp Realty".

Do my signs, business cards and other branding have to be EXP approved (like a franchise)?

You can brand yourself however you want to, but to ensure compliance with the company and your state it is best to follow these 3 rules.

Three Rules for Successful Marketing with eXp Realty

1. Always follow eXp Realty Brand Guidelines when using the eXp Realty logo.

2. Use a current and approved eXp Realty logo from the approved logos folder.

3. Submit all marketing materials to marketing@exprealty.com and your State or Provincial Broker Team for approval prior to use.

I want to learn how to sponsor agents, is there training?

Yes. Training is offered weekly in the eXp Family Tree Workplace Group as well as on the weekly Mastermind Calls.

How can I find out where in process an agent I sponsored is?

You can check on their onboarding status by going into eXp World and asking an Onboarding Specialist, or when they start their application process they will be given a code via email.  You can ask them to share that code with you, and if you have the code- then you can check status by going to onboardingstatus.expenterprise.com and inputting their code there.

Do I get a mentor or what coaching is available?

During their mentor program, the mentee will be on a 60/40 split.  This will last through the first 3 transactions.  20% will go to eXp (as always), 10% will go to mentor, and 10% will go to the eXpand Mentor Program.  

If I have a problem with a transaction who do I go to for help?

eXp Realty operates statewide in each of the 50 States in the US as well as Provincewide in each Province in Canada in operation. An agent of eXp Realty can contact a member of the State Brokerage Team for help on transactions. eXp Realty State Brokerage Team's are available via eXp Realty World (Brokerage Room/State Broker), via Text, email or phone.

Is this a pyramid?

No. eXp Realty is a brokerage company that has elected to share part of its company dollar received from agents with those agents who help the company organically grow via referrals of additional agents. A pyramid implies sale of products or services and eXp Realty caters to agents who join to complete the exact real estate practice with clients they already conduct. There is nothing to purchase.

Can the cap be paid at an expedited rate? ( pay more than 20% of commission to rush the 100% and cap)

No. Company Dollar payable towards the retirement of an Agent's Cap is only collected on closings and other transactions subject to payment of Company Dollar

Does EXP have a marketing department to help me with business card and sign designs?

On expcloud.com there are links to all of our preferred vendors including those for cards and signs.  Simply go to expcloud.com and then click on "business tools" in the top toolbar.  From there you can click on "vendor resources."  You can submit your own artwork and/or choose from select templates.  Just be sure that your cards and signs and marketing pieces are compliant with state marketing laws and the exp marketing department.

Should I have my own corporation (LLC, Sub-S etc)

Setting up any entity (LLC, S Corp., etc) should be discussed with a tax professional such as your CPA. eXp Realty allows agents to receive commissions and revenue share payments in an entity (so long as allowed by law in the agent's state/province).

Does eXp tax taxes out of my commission checks?

No. No taxes are withdrawn from commissions by eXp Realty. Each Agent is considered a 1099 contractor and thus receives the entire commission for their share. Agents are responsible for their own tax liability for commissions.

If I leave eXp and go to a competitor do I lose my revenue share?

Prior to your 36th month with eXp Realty, an agent who leaves (regardless of destination being a competitor) would not be vested in Revenue Share. After the 36th month, Revenue Share is vested so long as the agent does NOT join (or Start) a competitor to eXp Realty. Such action would terminate the agent's Revenue Share and vesting.

Do I have to have a real estate license to participate in the eXp revenue share system?

Yes. Revenue Share is essentially a payment of a referral fee in the form of a portion of the commission (Company Dollar) received by eXp Realty. This requires you to be licensed to receive said payment in your State.

How do I name who my sponsor will be?

The party you name as an agent is identified during the onboarding process via the name you enter into your Independent Contractor Agreement (ICA).

Do you have a State Broker List for eXp Realty?

eXp Realty's Managing Brokers for each State and Provinces are listed here: https://experts.expcloud.com/bic

Is EXP Realty profitable?

Here is a link to a report featured on Seeking Alpha. https://seekingalpha.com/article/4253311-exp-disruptive-real-estate-brokerage-high-upside 

If you don't have time to read the whole report about EXPI here is their summary: 

eXp is a relatively new entrant to the real estate brokerage industry with a digitally-enabled cost leader strategy.

eXp passes on these cost savings to real estate agents, which is fueling rapid agent / revenue growth.

eXp appears to be undervalued relative to other stocks growing at similar rates, creating an opportunity for 80% upside over the next year.

I want to send a referral to an eXp agent, how do I do that?

The best way is to become a member of the "eXp Referral Network" group on Workplace by facebook. When you have a referral, you can simply post it on that group's page and within minutes usually have agents who are there to take it in whatever area of the country the referral is for.

I want to receive referrals from eXp agents, what are the best ways to create referral relationships?

There are several ways to do this at eXp Realty. First, you should make sure your market (state/local) are noted along with your name on your Avatar in eXp World.  This allows other agents you interact with and see you in meetings/trainings to easily know which area you're from.

In addition, in eXp Realty's Workplace Intranet there are referral groups for both national as well as State referrals. You should make sure you're a member of these groups.  Make sure you are a member of your State's agent group as well.

What is Workplace?

Learn about Workplace by Facebook here.

If I leave eXp before my stock awards are fully vested do I lose those shares?

eXp Realty has what is referred to as 'Cliff Vesting' on equity awards with the exception of a portion of Icon Shares that vest immediately. As such, any unvested shares would be forfeited at the time of departure.

How many much in EXPI stock do I get for selling a house?

You will receive the following equality on your first completed transaction with eXp Realty: $200 worth of eXp World Holdings common stock. Upon Capping you will receive $400 worth of eXp World Holdings common stock.

How much in EXPI stock do I get for sponsoring an agent?

eXp Realty agents receive EXPI stock for directly attracting another agent to the company and upon the closing of that agent’s first transaction with eXp Realty: $400 worth of eXp World Holdings common stock.

How much in EXPI stock do I get when an agent I sponsored sells their first house?

$400 in EXPI Stock subject to 36 month vesting will be awarded when that agent closes their first transaction.

I want to sponsor an agent to join eXp what are my obligations once they name me as their sponsor?

You have no formal mentoring or supervisory role with an agent you sponsor. That said, it's a best practice to make sure you spend some time with and follow up with that agent to ensure they're acclimated within eXp Realty and attending the key trainings/orientation and have all the tools and tech in place.

Does exp take care of my e&o insurance ? If so, what is the coverage amount?

• One Risk Management (E&O) fee of $40 per transaction, capped at $500 per year.  This pays for a deductible of $2500 for $2M worth of coverage.

Does exp cover any marketing expenses? Direct mail, local print or pay-per-click?

No. eXp Realty agents are responsible to cover their marketing expenses. eXp Realty does have an extensive marketing center where agents can access 1000s of pre build marketing materials for promoting their business at no cost.

Does exp pay for my new open house and for sale signs or agent starter pack?

No. eXp Realty agents are responsible for their own Open House and Yard Signs as well as lock boxes. The one-time fee when a new agent signs up covers an initial order of 1000 business cards as well as 20 client presentation folders. That one-time fee also covers the first months $85/month fee.

If I sign up for referral site such as Opcity, dies the referral fee come off the top of the commission, or from the agents 80%?

In general, referrals fees assessed by programs like OpCity, etc are taken off the top from the transaction side subject to that referral fee.

If EXP is cloud based and not brick and mortar then why do they need to charge a $16,000 cap?

eXp Realty charges a very market competitive cap of $16,000. This amount covers the direct expenses of operating a national brokerage including broker teams and staff & team members from eXp Realty in all 50 States and the Provinces in Canada that eXp Realty operates in. As you'll also recall, eXp Realty also pays a portion of the money received towards the cap in Revenue Share and only retains the remainder.

If I need a question answered after eXp World hours how do I get that done?

Broker questions (outside of eXp World hours for that State's Broker Office Hours) can be answered by reaching out to your Supervisory Broker (or Managing Broker). Other questions related to tech, accounting etc would need to be answered during the next available hours in eXp World.

If I want to start a team at EXP and have people on it, does EXP have a required team split? If so how much?

Yes, as a Team Lead, you are required to be paid a minimum of 25% of the commission payable to agent(s) on that side of the transaction per closing.

If I lose someone in my downline (for any reason) and they recruited people, what happens to those agents rev share?

When an agent departs eXp Realty for any reason, the remaining agents remain in place in your downline and you will receive revenue share from those agents as they produce.

How long does it take to be paid and what is the process?

Assuming you have a clear file in SkySlope (at least 48 hours prior to the closing), eXp Realty will either pay you at closing (if your State allows for DA payment at closing) or generally within 48 business hours upon receipt of the check by eXp Realty in States where the company is paid 100% of the commission at closing.

Can I do direct deposit so I don’t have to wait for checks?

Yes. eXp Realty pays commissions and revenue share via ACH Deposit into your designated account.

How can I track the status of an agent during on boarding?

You can track the onboarding of an incoming agent either by using the tracking code in their "Thanks for Applying to eXp Realty" email they receive upon submission of their application at the following page: https://onboardingstatus.expenterprise.com/ or via the Agent Services Self Service Center in eXp World.

What Is The Monthly Cost Vs Monthly Fees?

Monthly cost to remain active at eXp Realty is $85/month. There are no other expenses/costs unless an agent closes a transaction that month. In that case, the monthly cost would be for the 20% payable in Company Dollar by the agent (unless Capped) and a $25 Broker Review fee for each transaction. The transaction would also be subject to a $40 per transaction E&O fee (if applicable) up to a cap of $500 payable each anniversary year.

I have an app out and the prospect sent me the tracking, how do I distinguish if she completed the app or submitted the ICI?

You can visit the following web page for latest status here. https://onboardingstatus.expenterprise.com/

How & When Is Revenue Share Paid?

Revenue share is paid out monthly on the 22nd of the month for the previous month's transactions. Most agent's are set up on direct deposit for pay-out.

Is EXP Realty an MLM?

https://www.youtube.com/watch?v=qiT_ALUuGRs&feature=youtu.be