Should I Join eXp Realty?
eXp Realty is a real estate brokerage that operates in the United States and Canada. The company was launched in 2009 by Glenn Sanford, and it is headquartered in Bellingham, Washington. eXp Realty is a member of the National Association of REALTORS® (NAR) and the Canadian Real Estate Association (CREA). Inman News quotes eXp as “one of the most innovative companies in the world”.
eXp Realty is a cloud-based brokerage that provides its agents with a collaborative platform for buying and selling properties. The company offers a variety of services to its agents, including lead generation, marketing, transaction management, and training. eXp Realty also has a partnership with Keller Williams, one of the largest real estate franchises in the world. I love working with eXp, and I think it has many benefits, especially for new agents. In this post, I’ll be talking about the reasons why I think you should consider eXp Realty as your brokerage.
What are the Benefits to Joining eXp?
There are various benefits to joining different brokerages. Some of the more common ones are healthcare and training. Here, I’ll list the biggest benefits to joining eXp Realty:
- Lower fees than other brokerages
- Cloud-based platform/Virtual Workspace
- You can become a shareholder
- Low cost Healthcare plans
There’s also the myriad of connections you make out the gate to grow your network, especially when you attend things like eXpCon, eXp’s yearly convention!. If you’ve read my previous article about how Real Estate Agents attract clients, you’ll recognize this is one of the biggest benefits of joining eXp Realty that isn’t something eXp Realty pays for. I get referrals from other eXp agents not licensed in Arizona all the time!
With many of other brokerages, agents can be hit with a lot of fees. Rent, desk fees, royalty fees, insruance, utilities, furnishings, staff, etc. All of this on top of high commission splits, brokers can be eating up a lot of your income. On the other hand, eXp Realty is up front with their fees and there are not nearly as many. There is a $149 fee to join which includes your business cards and first months fees, and a total of $85 for monthly fees. With eXp Realty, you don’t have to worry about being nickel and dimed with every home you sell.
Along with lower fees, you also get to keep a lot more of your commission. eXp Realty has an 80/20 split, meaning you get to keep 80% of your earnings. The company also has a yearly cap at $16,000. So, if you sell enough for that 20% to hit $16,000, they won’t continue taking from you. With eXp Realty as your broker, you get a higher profit than other places.
eXp Realty uses a cloud based platform, and isn’t afraid of using technology to advance. Being cloud based offers so many options that other brokers don’t offer. You have the freedom to pick and change tools and have them all still work together. You can work from home or anywhere you feel comfortable. There’s easy access to communicate with other agents or services around the country to ask questions. You get easy support to tech, administration and other services. Using technology to their advantage, agents with eXp Realty have access to a huge range of powerful tools.
With a lot of brokers, you’re at the mercy of whatever decisions the CEOs make. Agents don’t get much of a say of what happens at higher levels, but eXp Realty has ways to give agents a voice. When you reach certain milestones with the company, you can receive stock shares with eXp’s parent company eXp World Holdings. With enough shares, you can become a shareholder, giving you a vote in what happens within the company. This system helps give agents extra financial support while giving them the power to decide what happens.
I know healthcare is offered with many other brokerages as well, but it’s still worth mentioning. As of 2019, eXp has been offering healthcare plans to their agents. For a more in depth look at their health plans, check out this post from eXp Life.
eXp Realty offers live training 50 hours a week, covering tips on sales and listings, lead generation, social media, CRM tools and more. New agents are also given a few month long curriculum. Sessions are recorded, so if you can’t make a live class you can still get the information you need. With continuous training, you can keep the pace with the ever changing industry.
Along with training, eXp provides a near endless well of resources. Real-time IT and service support staff are available during work hours across US time zones for any questions or needs. The company provides a preferred partner program, which gives agents and their clients a lot of home buying/selling services such as mortgages, titles, escrow, moving services and home warranties.
There is also the added bonus of national collaboration. agents across the country have east access to communicate with each other and are eager to help through programs ICONversations and Agents Helping Agents. Having what is essentially a hive mind of agents at your disposal to exchange advice and information with, you can excel as an agent.
Here is just a quick peak at some of the many resources the company has to offer.
How do I Join eXp?
First things first, you should get sponsored through an agent in the brokerage. While you can still join without one, it’s much easier to get a sponsor. There are so, so many resources online to help you figure out who to choose as a sponsor, just make sure that you choose a good one. Your sponsor is going to be your go-to person for guidance when you’re first starting out as an agent. I am more than happy to sponsor people, so if you’re interested in joining, please email me so we can talk about it!
Once you’re gotten your sponsor, go to the company’s website and click on the “Apply As An Agent” button, fill out the form, review the Independent Contractor Agreement, name your sponsoring agent, then submit. Wait for an email with further instructions on how to move your license over for your state. This process differs state-to-state.
Still Not Convinced?
Maybe my words aren’t enough for you to consider eXp Realty as your broker of choice. If that’s the case, maybe this article straight from the horse’s mouth will help you consider whether this company is right for you. I’ve never been happier working with them, and I strongly encourage new agents to consider eXp Realty as well.
As I said earlier, I’d love to sponsor people and get more agents on my team. If you’re interested, you can contact me any time with any questions you may have so I can get you started!
Thanks for reading!
– Evie Brown, REALTOR®
(602) 577-7410 direct line/text