10 Most Asked Questions About eXp Realty

Most people often think because eXp Realty is a cloud-based brokerage it does not have the local broke support like a traditional brokerage. Whether you choose a local sponsor or a sponsor in another region, that does not have anything to do with the local support your receive through eXp Realty. In most traditional brokerages, the broker wears multiple hats when it comes to helping and supporting their agents.

At eXp Realty, our brokers wear one hat, and that is to provide support to their local agents. At any given time, I can go into the cloud and have access to up to nine brokers here in Texas and get an answer to my question immediately. Plus, every agent has access to over 900 salaried employees that are speciality based. So whether you need help with accounting, tech support, transaction, or onboarding, there is a department that is dedicated to providing support in that area. Again the wait time is usually minimal. Plus, everyone is salaried and not dependent on the agent’s production. Unlike a traditional brokerage that might favor top-producing agents.

This is a simple yes. One of the biggest things I looked for before joining a brokerage was the training available for new agents, and for me, eXp Realty has the best resources available for both new agents and seasoned agents. This is especially why I joined the Wolf Pack group inside of eXp Realty. Over a third of their agents are new and they are doing millions of dollars worth of deals in their first year of real estate. Plus, they had one of the biggest value stacks as far as social media training, production training, lead generation training, and new agent onboarding.

eXp Realty also offers over 50+ hours of live training from top producers every week. Unlike traditional brokerages, where they leave it up to the real estate agent to train themselves or must pay extra to be mentored and it is usually by an agent who is retired and has not done a deal within the last 10 years.

One of the best things about eXp Realty is that we can leverage our upline 7 levels above us. At traditional brokerages, your training is limited to your broker’s talent and knowledge. This is another reason why I joined the Wolf Pack. The resources that Mike Sherrard and Connor Steinbrook have put together cannot be competed with. On top of that, I partnered with my sponsor Tharmila Rajasingam to add to the Wolf Pack’s value stack to offer even more valuable resources to our agents. We offer marketing services through our full-services marketing company, Marketing & Mindset, plus we have developed a social media content platform called karuvi.social to provide daily content and strategies for real estate agents.

To learn more about what our real estate group has to offer, click here to schedule a private 1-on-1 call with me.

This is probably the one thing that scares most agents from joining eXp Realty.  No, you do not have to recruit or attract a single agent to eXp Realty. This is one thing that drives me crazy with all of the misinformation out there that people think all we do at eXp Realty is recruit agents. If you look it up, eXp Realty agents sell more homes per agent than any top brokerage in North America.

We have agents in our company who have multiple seven-figure net-worths from production alone through our Icon Agent Program. Agents can make more money here with our Icon Agent Program than any other brokerage out there.

Let’s break down this whole recruit myth. If a new agent gets their license and asks you where they join to put their license, you naturally are going to refer to whatever brokerage you are with. You are not going to refer them to another brokerage. If you refer that agent to your brokerage, what do you get? A plaque, gift card, or a pat on the back? And none of this helps you in your real estate business. At eXp Realty, we get revenue share for referring that agent to our brokerage. Not only are we getting paid to bring an agent (if they produce and we are paid from the company’s cut) we are giving them better training, better resources, and the opportunity to make more money.

With eXp Realty’s revshare model, you can leave your real estate business to anyone as long as they get a real estate license and keep it active. eXp Realty offers a true business model to real estate agents and an exit strategy to true retirement.

At eXp Realty, you make more money for doing the same things you would do at any other brokerage.

To learn more about eXp Realty’s brokerage model and if it is right for you, click here to schedule a private 1-on-1 call with me.

At most brokerages, if you are a top producer you receive some plaques and awards, but these awards do nothing for your business except collect dust. At eXp Realty, if you cap and do an additional 20 transactions you become an Icon Agent and you receive your entire CAP back in the form of company stock. Again the constant theme with eXp Realty is that you get more for doing the same thing you are already doing.

Most people get into real estate to build wealth. To build wealth you must have 4 things:

1. Duplication
2. Equity ownership
3. Passive or residual income
4. Multiple streams of income

At most brokerages, you have one stream of income. At eXp Realty we have multiple streams of income, plus we have all four things needed to build wealth. eXp Realty truly allows real estate agents to create an exit strategy. You have heard the saying, “most real estate agents don’t retire, they expire.” That is because the moment they stop doing production, they don’t make any more money. At eXp Realty, agents have equity ownership and if they are doing agent attraction they will have their revshare. Then if something happens you can leave your entire business to your family. They must get their real estate license within 18 months and keep the license active. They can maintain your business and the income it produces, or they can continue to grow it.

To learn more about eXp Realty’s brokerage model and if it is right for you, click here to schedule a private 1-on-1 call with me.

We are going to break this down for those in the US and then for those in Canada.

eXp Realty Fees (US)

• $149 for your first-time fee. This covers your first month’s brokerage fee. This get’s you access to SkySlope, kvCORE, the cloud, and access to all of the training available. Then your brokerage fee is $85 a month after that.
• $25 Broker Review Fee per transaction.
• $40 E&O Insurance Fee per transaction. This caps at $500 a year.
• 80/20 split. After you cap, you go to 100% commission.
• $16,000 yearly cap
•  After you cap, your per-transaction fee goes to $250.
• After you cap and do 20 additional transactions, you receive your entire cap back in the form of stock and your per transaction fee reduces to $75.

eXp Realty Fees (Canada)

• $199 for your first-time fee. This covers your first month’s brokerage fee. This get’s you access to SkySlope, kvCORE, the cloud, and all of the training available. Then your brokerage fee is $139 a month after that.
• $29 Broker Review Fee per transaction.
• $17 E&O Insurance Fee per transaction. This caps at $200 a year.
• 80/20 split. After you cap, you go to 100% commission.
• $16,000 yearly cap
•  After you cap, your per-transaction fee goes to $285.
• After you cap and do 20 additional transactions, you receive your entire cap back in the form of stock and your per transaction fee reduces to $75.

To learn more about eXp Realty’s brokerage model and if it is right for you, click here to schedule a private 1-on-1 call with me.

This is one question I am sick of answering about eXp Realty. So let’s address it once again.

Let’s take a look at a traditional brokerage company structure.

• At the top, you have the Broker Owners
• Under them, you have the International Investors/Owners (invest in a country like Canada or Mexico)
• Under them, you have the Regional Broker Owners (owners in a specific state/providence)
• Under them, you have the Broker Owner (franchise owner in a specific city)
• Under them, you have the Real Estate Agents

If we analyze this and look at their structure, this is exactly a pyramid scheme. Only people at the top benefit, NOT the agents.

In 2021, eXp Realty gave over $121 million back to their agents. If this was a traditional brokerage, the agents would have got nothing. This would have gone to the broker-owners only. In a traditional brokerage, in my opinion, the agent gets screwed. At eXp Realty, we are built differently, all of the money went back to our agents.

Let’s take a look at eXp Realty’s company’s structure.

• At the top, you have the  Brokerage Ownership
• Under that, you have the Real Estate Agents

eXp Realty is built more like a brick and a traditional brokerage is built more like a pyramid scheme. Yes, we do have seven level deep compensation system that we can take part in with our revenue share model. If we attract an agent, we are compensated ONLY when that agent PRODUCES, NOT for recruiting them.

So compare both brokerage models and see which one looks more like a pyramid scheme.

To learn more about eXp Realty’s brokerage model and if it is right for you, click here to schedule a private 1-on-1 call with me.

This is another question that trips up a lot of real estate agents about joining eXp Realty. Many people think that eXp Realty is anti-office. This is NOT the case, they are just not required.

Yes, eXp Realty does have offices!

eXp Realty understands where the future of real estate is headed, unlike most traditional brokerages. Compare Uber to taxis and Netflix to Blockbuster. Cloud-based businesses are disrupting traditional brick-and-mortar businesses. eXp Realty understands this and is ahead of this trend.

Think about top-producing real estate agents, where are they? Are they in the office? No, they are in the field doing deals. They are maybe in the office once a month to check-in. Who is usually in the office, new agents or agents who are not producing as much? Plus, think about clients, they are not begging to meet real estate agents at the office. They want to meet at a nearby coffee shop or at their home. Somewhere that is closer to them.

Because of the pandemic we are learning that we don’t have to be tied to an office, we can work virtually thanks to technology.

What if you need an office? eXp Realty has partnered with Regus where you can get access to any Regus office as a part of your monthly brokerage fee. Regus is in multiple countries and has usually multiple offices in each city.

To learn more about eXp Realty’s brokerage model and if it is right for you, click here to schedule a private 1-on-1 call with me.

100% YES! It does matter who you choose as your sponsor at eXp Realty. This is one of the most important decisions that you will make while you are at eXp Realty. Your sponsor is going to do so much more for you and has will change your life.

Now, people often confuse a mentor with a sponsor. These are two different things. A mentor is assigned to you locally if you are a newer agent. Also, your local support is already provided to you by eXp Realty.  Your sponsor is someone who is going to be there all the way to help you grow your real estate business. I am in Houston, Texas and my sponsor is in Toronto, Canada.

There are sponsors who offer nothing and have limited interaction with you. This is why I carefully choose my sponsor and the group that I aligned with at eXp Realty. I choose my sponsor because they spoke the same marketing language I spoke. Plus, she was in the Wolf Pack which has so many amazing resources, far more than any other team at eXp Realty. Plus, these resources can be passed to any agents in my group as well.

I urge you to do your due diligence. If you are slightly even considering joining eXp Realty, please book a call to see what we have to offer. It is not easy to change your sponsor, you have to leave the company for a minimum of six months and then rejoin. I have several agents right now waiting, so they can join my group.

To learn more about what my group has to offer you here at eXp Realty, click here to schedule a private 1-on-1 call with me.

Many people often think that the opportunity inside of eXp Realty is gone. This is NOT the case. At the time of this article, eXp Realty has over 83,000 agents worldwide. Many people think that because we are growing exponentially that the opportunity is gone or not as great. Think, there are 1.4 million-plus real estate agents in the US alone. We are global and you can recruit globally. We are in Spain, Portugal, Canada, Mexico, Colombia, Brazil, Greece, Chile, etc.

eXp Realty’s goal in the next five years is to grow to over 500,000 agents globally. There is still plenty of growth and opportunity available. You are probably coming at the best time because eXp Realty has worked out all of the kinks and bugs unlike what people faced in the beginning. Everything is a well-oiled machine. You are on the ground floor, and we all know that the ground floor is where you want to be with any new company.

To learn more about what my group has to offer you here at eXp Realty, click here to schedule a private 1-on-1 call with me.