eXp Realty’s spectacular growth and success continue to be recognized, as the cloud-based brokerage has landed in the top five of several categories of the elite 2020 REAL Trends 500 Report today, including being named the No. 1 mover in transactions, the No. 1 independent in the country and No. 3 in closed transaction sides.
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Exp Realty Review
eXp Realty offers every agent the unique opportunity to become a shareholder in the company, and celebrate the company’s financial success.
Agents can earn equity awards for various achievements such as closing their first transaction as well as the opportunity to earn back their yearly commission cap in stock.
eXp Realty has agents in the United States, Canada, the United Kingdom and Australia.
Exp Realty’s Compensation Plan
Exp Realty affiliates share an 80%/20% split with the company on commissions earned.
That is if you make $10,000 selling a property, you make $8000 and Exp Realty takes $2000.
This continues until $16,000 has been paid to Exp Realty over the course of a year.
If this $16,000 cap is reached, from that point on an affiliate keeps 100% of generated commissions for the rest of the year.
This is slightly misleading, as Exp Realty charges a $250 “transaction fee” after the $16,000 cap is reached.
Transaction fees cap out at $5000, after which the fee is lowered to $75 for the rest of the year.
The money Exp Realty takes funds the MLM side of the compensation plan.
Who is Exp Realty Founder
When we set out to transform the real estate experience, I personally thought about what would it take for me, having been a real estate agent, to want to be at eXp over the long haul. It needed to be the place that I would be working at if it existed, which to a large extent had to do with how we thought about compensation and equity opportunities.
We also knew that we had to create a great environment to work. A place that empowers agents to manage their own businesses while receiving top-notch technology and training, and quick support. A place where entrepreneurial agents can voice their opinions and be heard. And a place where agents can plan for their family’s future.
Exp Realty Referral Program
For every online platform, the referral model follows a pattern, all company wants to promote its product, app or site so they offer all potential users the opportunity to share their link, make a new member, and earn a bonus as reward.
If any level 1 affiliates recruit new affiliates, they are placed on level 2 of the original affiliate’s unilevel team.
If any level 2 affiliates recruit new affiliates, they are placed on level 3 and so on and so forth down a theoretical infinite number of levels.
Exp Realty caps payable unilevel team levels at seven:
- level 1 (personally recruited affiliates) – 3.5%
- level 2 – 4% (must recruit and maintain at least five qualified affiliates)
- level 3 – 2.5%% (must recruit and maintain at least ten qualified affiliates)
- level 4 – 1.5% (must recruit and maintain at least fifteen affiliates)
- level 5 – 1% (must recruit and maintain at least twenty affiliates)
- level 6 – 2.5% (must recruit and maintain at least twenty-five affiliates)
Joining Exp Realty
When you join eXp Realty, you become part of a global family of agents and partners dedicated to transforming the real estate experience. Learn more about how we empower our agents with world-class education, strategic partnership and stock awards.
U.S. agent fees (USD):
- $149 start-up fee
- $85/month cloud brokerage fee
U.S. agent transaction fees (USD):
- $25/transaction broker review fee
- $40/transaction risk management fee ($500 annual cap)
Canada agent fees (CDN):
- $199 start-up fee
- $139/month cloud brokerage fee
Canada agent transaction fees (CDN):
- $29/transaction broker review fee
- $17/transaction risk management fee ($200 annual cap)
Exp Realty Registration
Exp Realty Registration on the site isn’t so complicated, but it’s really necessary to have the below information handy is a as it might be needed of you.
- Email Address
- User Name
- Phone Number
- Contact Info
Exp Realty Login
Before you have access to Exp Realty login page, it’s obvious you must registered successfully.
To login Exp Realty only the below is needed
- User name
Is Exp Realty Scam
Primarily, Xycinews Media contents is to give an overview of platforms and what they entails to help you decide if proceeding with them or Investing only what you can afford to lose.
- Do you think Exp Realty is scam?
- How you being defrauded?
With a lot of platforms on our desk to review for the general public, we might not be able to keep track of Exp Realty on a regular. Please help us by dropping a comment and this will help other potential investors from falling prey or proceeding to invest.
In Summary – Is Exp Realty Legit or Scam
Exp Realty takes some of that commission, keeps a percentage and funnels the rest into an MLM compensation plan.
I don’t think anyone is stocking up their garages with properties to qualify for commissions, so the majority of sales are practically guaranteed to be to retail buyers.
Two irks I have with Exp Realty’s compensation plan are fees and the recruitment requirements.
It’s pretty pie in the sky to expect Exp Realty affiliates to each recruit five affiliates, who’ve each made a sale in the last six months, just to qualify for second level unilevel team commissions.
No official figures are provided but I’d wager the majority of fee-paying Exp Realty affiliates haven’t met this criteria.
As for forty on the upper end, I get this is technically the highest commission tier but still. Recruiting forty affiliates who maintain a sale every six months seems like a tall ask.
This Exp Realty Review Article isn’t aimed at defaming Exp Realty nor is it targeted to promoting them.
This article is strictly for enlightening purposes and a honest guide from our perspective because we strongly believe every brand needs a good background check.
Therefore, you are at liberty to accept or reject this article and act base on your own perspective of the platform. You are encouraged to share your own opinion or views about the platform with us via the comments box below so as to further improve this Exp Realty review.
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