No desk fees. No royalty fees. No franchise fees.
eXp Realty’s revolutionary virtual-office business model does away with the added costs of a traditional brick-and-mortar brokerage. Keep 80-100% of your commissions, and enjoy a low company cap. Many of you have heard about all that eXp has to offer their agents – from powerful lead generation tools to dozens of weekly training sessions — but weren’t quite sure what our fee structure looked like. This is your chance to compare eXp Realty commission splits with your current brokerage.
In the above videos, you can learn about eXp Realty commission splits, annual cap and any monthly or annual fees. There are also comparison charts based on levels of production each year so typical agents and top producing agents can see how much they could potentially save each year. eXp Realty offers some fantastic opportunities to earn additional income that will help you recoup any splits or fees you paid to the brokerage.
When you join eXp Realty, there is a
$149 Startup Fee that includes your first monthly fee as well as:
- Onboarding Assistant
- Setup of your new lead generation website
- Contact Management System (CRM)
- Regus Business Center Membership
- HelloFax # and Toll-free 800#
- Google Apps for work, storage, email
- Skyslope Transaction Management System
- Your personal eXp Agent Attraction Website
- Access to eXp World, our virtual campus
eXp Realty Fees
eXp Realty does not charge desk, royalty, or franchise fees. So long as you stay current on your $85 monthly fee and all state licensing requirements, you can remain licensed at eXp Realty.
When you join eXp Realty, you’ll pay $149 for your first month of onboarding. After that, eXp Realty charges an $85 monthly fee. This cloud brokerage fee covers using kvCORE, Skyslope, Marketing Center, Workplace, and complete access to training and support.
kvCORE is eXp Realty’s lead generation and website solution for real estate agents. Outside of eXp, access to this system runs over $500 per month. This alone makes the $85 per month worth it.
eXp Realty Transaction Fees/ Commission Splits
There is an 80/20 commission split until you reach your $16,000 annual cap. For those of you that aren’t familiar with a commission cap, that just means that once you’ve paid eXp $16K, you keep 100% of your commissions for the remainder of your anniversary year. Once you’ve reached your cap, there is just a $250 transaction fee for the next 20 transactions and $75 after that.
** Please note that new agents or those who sold fewer than three (3) homes in the past 12 months will be in the eXp Mentor Program. There is an additional 20% split for your first 3 transactions with your local mentor. Once the mentee closes three transactions with eXp Realty, they graduate from the mentor program and are not subject to the additional 20 percent split.
In order to keep your monthly costs down, eXp elected to charge your E&O (Errors and Omissions) Insurance by transaction. You pay just $40 per sale until you reach the $500 annual cap. All US agents pay a $25 real estate broker review fee per transaction. This fee does not cap. For agents in Canada, this fee is $29 per transaction.
Commission Split and Fees Example
For example, if an agent does 60 transactions. Their total eXp Realty Commission Split paid for the year would equal:
- $16,000 – Commission Cap
- $5,000 – $250 Transaction Fees
- $1,875 – $75 Transaction Fees
- $500 – Risk Management Fees
- $1,500 – Broker Review Fees
- $24,875 – Total eXp Realty Fees
How would you like to earn $16,000 back in stock after you icon? Learn more about how to icon in the icon section below.
For the typical agent who sells about 10-12 homes and does $80,000 GCI, they could potentially save over $8,000 per year with eXp Realty. For top producing agents who are selling about 25 homes and generating $300,000 GCI, the savings averaged about $60,000. See the full example of the eXp Realty commission / fee breakdown in the video above as well as the different options you have to earn back some or all of the money you paid into the brokerage.
All Things Equal
The first thing to note about eXp Realty is that all agent’s commission splits are the same across the board. No agents receive exclusive deals, unlike many other real estate brokerages. All agents at eXp Realty pay the same commission split and fees regardless of tenure, transaction volume, etc.
This equal treatment embodies eXp Realty’s core value of transparency and ensures that all agents have the same opportunity to succeed.
One thing to point out when talking about eXp Realty’s commission split is revenue share. Revenue share is an opportunity for real estate agents to earn an additional income stream for helping to bring on other agents into the brokerage.
Revenue sharing is paid from eXp Realty’s side of the commission split ( the 20 percent) and doesn’t cost agents anything extra. eXp Realty pays out 50 percent of the 20 percent every month to agents (the other 50 percent goes to paying eXp Realty’s overhead and profit).
For more information, check out the revenue share section.
eXp Realty Personal Deals
At eXp Realty, agents can complete three personal transactions per year without paying the 20 percent split to eXp Realty.
Agents are only responsible for paying a $250 transaction fee, a $40 risk management fee, and a $25 broker review fee for the personal deal.
A personal transaction consists of only the deals for which the eXp Realty agent is personally on the contract.
eXp Realty Seller Fees
eXp Realty does not charge any additional fees to clients. Agents can determine their commission rate and any additional fees to their clients. However, the rate and fees charged to the client are then split with eXp Realty at the typical commission split.
If an agent wishes to discount their commission rate and that agent has not reached their commission cap, the minimum transaction split to eXp Realty is $500. Therefore, an agent can reduce their commission ultimately to $0 to the client. Still, the agent would be responsible for paying eXp Realty $500 for that transaction, plus the broker review and risk management fee.
ICON Agent Program
As agents at eXp Realty, we can earn our $16,000 cap back each year in the form of eXp Realty stock. You can qualify for the ICON Agent Program in two ways, based on your production at eXp Realty. Please note that it’s one or the other, not both. Additionally, you need to satisfy the cultural requirement explained below.
Cap Plus $5,000 in Capped Status Transaction Fees
The first way is “$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.”
$500,000 Annual Gross Commission Income Plus ICON Qualifying Fee
The second way you could qualify to become an ICON agent is by achieving an “Annual gross commission income of $500,000 or more with a minimum of 10 closed transactions and payment of an “ICON Qualifying Fee.” This fee equals $5,000 less capped transaction fees paid during the same anniversary year.
Team Leader Fees at eXp Realty
If you’re a team leader, you have a few options for structuring your team at eXp Realty. These options include a self-organized, standard, or mega-ICON team.
A self-organized team is the least formal team structure at eXp Realty. You provide a team roster to eXp Realty, and any agents, including yourself, can market as the team. Each agent has a $16,000 commission cap and pays their individual $85 monthly fee. You can share commissions per transaction on any deal that warrants it.
A standard team is more formalized than a self-organized team at eXp Realty. A team agreement is required. Additionally, the team leader must meet a production requirement of $6,000,000 in gross commission income from the previous year.
This team allows team agents to receive a half-cap of $8,000 instead of the normal $16,000 cap. However, note that the team agent must split 25% of each closed transaction with the team leader.
Mega ICON Team
A Mega ICON team is a team that has ten or more agents who all receive a quarter cap of $4,000. The Mega ICON team leader is responsible for a minimum of $56,000 of company dollars to be paid into the company by the end of the year. ($4,000 x 10 agents + $16,000 for their cap).
Wrapping Things Up
In conclusion, the eXp Realty Commission Split is very generous compared to most brokerages. Especially when considering the ICON Agent Program, eXp Realty is unique. Combine this with all the tools and training that eXp Realty provides to real estate agents, and you get an excellent opportunity to grow your career in real estate.