Frequently Asked Questions
Where is eXp located?
We are now located in all 50 states, as well as Canada, Mexico, Australia, UK, France, South Africa, Portugal, and India.
What is the split at eXp?
Every agent at eXp Realty has a split of 80/20 until the cap is met.
Is there a commission cap?
Yes, eXp agents cap when they pay $16,000 to the company. So if you earn $80,000+ in gross commission (GCI) you should reach your commission cap each year. Reduced caps are available for teams at eXp.
How is eXp Realty different from other brokerages?
Traditional real estate brokerages generally follow the same setup: Agents and staff work out of a brick-and-mortar office, commission structures are established and then agents are pretty much on their own. But eXp Realty takes a hugely different approach.
What is the cloud campus or virtual office?
Agents at eXp have multiple options for training, but more than 60 hours of training occurs EVERY week in our virtual office, eXpWorld. You can log in from your phone or computer and use an avatar to walk around the campus and interact / learn with agents from around the country.
Are there really no brick and mortar offices?
We have the corporate headquarters in Bellingham, Washington, and a few brick and mortar offices in states that require a physical office. Other than that, eXp agents and brokers work from their home offices, remote office space or Regus Coworking Center. As a company, this saves a tremendous amount of money and eXp is able to share the savings with their agents through lower costs and the revenue sharing program.
What if I need a physical office or meeting room on occasion?
eXp has it covered. Every agent receives a free membership to the Regus Business Lounges (a co-working center) so you can go in and work in between appointments or reserve a conference room for you and your clients. There are over 3,000 Regus co-working offices in the US, so there should be at least one that’s convenient for you!
Do agents pay E&O insurance?
Yes, it’s just $40 per transaction with a max of $500 annually.
What is revenue sharing?
Because eXp doesn’t have a lot of overhead – like the typical brokerage – they are able to share almost half of the 20% split with agents who help our company grow.
Do I have to recruit agents?
No, it’s completely up to you! Most of the eXp agents don’t ‘recruit’ anyone, they just love the company and have agent friends and co-op agents that want to learn more about our brokerage.
How do I pick my sponsor at eXp?
Your sponsor is the person that introduced you to eXp Realty. If you spoke with multiple people before deciding to join eXp, you should name the sponsor that was the “procuring cause” or in other words, helped you say YES! to the brokerage. Also, you want to have a sponsor that is going to help you navigate the brokerage tools and technology and can guide you in the growth of your business — even if they are in another state!
Is eXp a good fit for new agents?
Absolutely YES! The support for newly licensed eXp agents is incredible. You are assigned a local mentor, you have the support of your sponsor as well as your regional compliance broker. Our goal is to make sure that you have multiple points of contact, so you can get your questions answered and business off the ground.
Education is also a top priority at eXp. You’ll have access to over 60 hours of live training EVERY week, including multiple courses designed specifically for new agents. You’ll also receive multiple tools and apps that will help you generate leads and sell homes.
Do you have to pay multiple fees if you are licensed in several states?
No! Just $85 per month to our national brokerage
What kind of stock award can agents receive at eXp?
eXp Realty is an agent-owned company and they want everyone to have a vested interest in our success. So after you sell your first home, you are awarded stock in the company! Agents also receive stock awards when they hit their commission cap, introduce another agent to the company and/or become an eXp ICON. The best award is the ICON Agent stock award where top-producing agents receive up to $16,000 worth of stock every year that they receive the ICON award.
How can I buy eXp stock?
eXp Realty has a stock purchase plan that allows agents to take 5% of their commission checks and buy the stock at a 20% discount. If you’d like to buy stock on your own, you can set up a brokerage account – TD Ameritrade and E*Trade are popular options for many real estate agents, but there are many others so check with friends and family for recommendations to find the best stock brokerage account for your needs. eXp stock is traded on NASDAQ (ticker symbol: EXPI)
If I need help with something who do I call?
Here at eXp Realty, we have a unique way of making sure that agents have an abundance of resources when you need assistance. Your broker, sponsor and/or mentor can answer many of your questions, but you can also pop into the virtual office and visit the accounting department, technology team, and more. The virtual office is open about 10 to 12 hours a day so it’s super convenient for agents. You can also visit eXp Workplace and chat with your brokers, transaction team, accounting, stock services, and more.
What if I have pending transactions with my current brokerage?
This is our most frequently asked question! We know it can be challenging to time your move to a new brokerage, so we’d recommend double checking your current brokerage agreement to see how they handle pending transactions. Many brokers will approve the move to your new brokerage and compensate you for your pending sales when they close – but please confirm!
Let’s come up with a game plan about timing your move. We want you to be able to start taking advantage of all the stock awards, lead gen tools, revenue share, and low annual commission cap as soon as possible.