Why Should You Choose eXp Realty?

EXP BENEFIT

We are proudly working with eXp Realty. Having worked with RE/MAX for 25 years as a top agent with zero incentives, Mark decided to move somewhere he would be rewarded for his loyalty. Being constantly sought after for his market expertise he knew he wanted to build a team of hard-working individuals where you can be rewarded for doing so, further motivating you.

Mark’s research of which brokerage would be the best fit to pursue growth landed him at eXp. Being a cloud based brokerage eXp is able to offer more in the way of technology, training, collaboration, shareholding and revenue sharing.

eXp is a community effort where growth is encouraged amongst your peers; the better
you do, the better we all do.

Commission

eXp agents start with an 80/20 commission split, which is better than the industry average. But eXp Realty has a commission cap of $16,000. Once you hit the $16,000 cap, you’ll transfer to 100% commission for the next year until the anniversary date of when you joined. This alone is what makes it not only possible but very likely that you will earn more per year at eXp Realty than another brokerage.

Training

New agents are given a curriculum to follow for the first few months. After you will receive continuous support with daily classes covering tips on sales, listings, lead generation, social media, CRM tools and more with access to eXp world to communicate directly with eXp agents from all over. You will also become a member of the Vancouver Mastermind Group which offers weekly in-person training & quarterly production seminars with experts for inspiration and networking.

Productivity

Agents can receive shares of stock after reaching milestones. Owning stock in the company not only provides financial security , but it also gives agents a voice in the company and enhances their commitment to helping eXp succeed.

Support

eXp’s IT and service support staff is available during working hours to offer support.

The conveyancing department is available to answer questions in regards to transactions through Skyslope and you will receive a list of managing brokers you may contact with contract questions.

If you have a team you are thinking of moving to eXp here is a breakdown of the different team structures, cap rates and earning potential.

Self Organized Team

No Reduced Cap

  • Teams that are not looking for a reduced cap can form a team with any terms between members that they choose.
  • There is no minimum referral percentage to the Team Leader required.
  • Team documents are not needed in this case, but eXp Realty will require a list of agents on that team to ensure proper reporting as a team within Enterprise, and to be added on the Team Roster

Traditional Team

Half Cap Team Members

  • In certain cases, eXp Realty will reduce a Team Member’s annual company dollar cap by half. Team Leaders will continue to pay a full cap. Team Members with a reduced annual cap are not eligible to receive the “capping equity award” or the ICON Agent Award, as paying a full cap is required for both. In order to qualify for a reduced Team Member annual cap the following terms are required:
  • The Team Leader must have a minimum of 30 closed transactions during the previous 12 months.
  • Team Members, on a reduced cap, must pay the Team Leader a minimum of 25% of their GCI earned on every transaction.
  • The Team Leader must have a written commission agreement with each Team Member. This written agreement must be approved by eXp Realty.
  • The Team Leader must sign a Team Leader Addendum.
  • Team Members must sign a Team Member Addendum. Team Members must be within a 100-Kilometer radius of the Team Leader. If Team Members are outside of a 100-Kilometer radius, a Satellite Team Leader must be named in the extended area. This Satellite Team Leader will have a half cap.
  • Team Leader must provide a roster of all Team Members to ensure proper reporting as a team within eXp Enterprise, and to be added on the Team Roster.

Mega Icon Team

Quarter Cap Team Members

Certain high-producing teams may choose to apply as a Mega Icon Team. As a Mega Icon Team, eXp Realty will reduce a Team Member’s annual company dollar cap by three-quarters. Team Leaders will continue to pay a full cap. Team Members with a reduced annual cap are not eligible to receive the “capping equity award” or the ICON Agent Award, as paying a full cap is required for both. Mega Icon Teams also will pay a reduced capped transaction fee of $75 beginning on their first capped transaction. In order to qualify as a Mega Icon Team, the following terms are required:

  • During the previous 12 months, the team must have a minimum of:
    • 175 closed transactions
    • $40 million in sales volume
    • 10 capping Team Members
  • Team Members, on a reduced cap, must pay the Team Leader a minimum of 25% of their GCI earned on every transaction.
  • The Team Leader must guarantee $56,000 annual team company dollar.
  • The Team Leader must have a written commission agreement with each Team Member. This written agreement must be approved by eXp Realty.
  • Team Members must be within a 100-Kilometer radius of the Team Leader. If
  • Team Members are outside of a 100-Kilometer radius, a Satellite Team Leader must be named in the extended area. This Satellite Team Leader will have a half cap.
  • The Team Leader must sign a Mega Team Leader Addendum Team Members must sign a Mega Team Member Addendum
  • Team Leader must provide a roster of all team members to ensure proper reporting as a team within eXp Enterprise, and to be added on the Team Roster.

Important terms to understand:
The Team must pay in a minimum of $56,000 in company dollar through commissions or the Team Leader must pay the difference to eXp Realty on their anniversary. If they must pay the difference, the team will be adjusted to a Traditional Team for their next anniversary year. The $56,000 minimum is based on the Team Leader paying a full $16,000 cap and 10 additional Team Members paying a $4,000 quarter cap (10 x $4,000=$40,000 + $16,000 =$56,000). Team Leaders should carefully consider the distribution of their team’s production before applying as a Mega Icon Team. Team Members on a Full Cap are not included in this $56,000 calculation.

As a Mega Team Leader, the production requirements to earn the ICON Agent Award are to achieve the $56,000 team company dollar minimum. Team Leaders who do not reach the minimum and have to pay the difference are NOT eligible for the ICON Agent Award.

Understanding Team Commissions

From any gross commission:

  • The first deductions are for any outside referrals owed to other brokers.
  • Next, gross commissions (or remaining commissions after outside referrals) are divided between Team Leader and Team Member.
  • Then all eXp Realty company dollar and fees are deducted from each agent individually.
  • Transaction fees such as broker review fee, capped transaction fee are per transaction, not per agent.