Questions About Joining eXp Realty

What is eXp Realty? If you join eXp Realty you will be apart of the nation’s first “Agent-Owned Cloud Brokerage”. Fastest growing brokerage in the United States history.

Do I have to name a sponsor? Yes everyone that joins eXp realty names a sponsor the person that was responsible for getting them to join.

Does it matter who I name as my sponsor? Yes, it does. Not every sponsor is created equally. I have agents reach out to me all the time asking to be apart of my group, and they can’t because there are certain perks for naming me as your sponsor when you join eXp Realty. For more on what you get when you name me as your sponsor click here.

Who started eXp? eXp Realty was founded by Glenn Sanford, a former top Keller Williams agent who realized that a cloud-based brokerage that offered revenue share was the future of real estate. 

When was it started? eXp Realty was incorporated in 2009. 

What does “Agent-Owned” mean? eXp Realty is agent-owned meaning that agents acquire stock in the company and have a vested ownership in the brokerage. There are 6 ways that agents can acquire stock, from simply purchasing it to achieving certain performance benchmarks. 

What is a cloud brokerage? A cloud brokerage is a brokerage that does not have physical offices and conducts business entirely on the Internet. Think of Amazon. They are a cloud company. They have minimal physical stores (Whole Foods, which they recently acquired), yet they’ve disrupted the entire brick and mortar retail industry! 

Are there really no brick and mortar offices? There are some associate brokers that decide to open up brick and mortar offices. That is the corporate headquarters in Bellingham Washington. Other than that, every agent and broker works from home or a remote office space. The company realizes a tremendous savings and is able to pass on the savings to agents in lowered costs. 

What if I need to occasionally need a physical office? We have that covered. eXp Realty has an agreement with Regus Business Lounges Worldwide to provide free access to their facilities. 

What if you want to join under me and still work at a physical office with other agents? You can name me as your sponsor no matter where you are and still work out of someone else’s office.

Where does eXp Realty operate? We are currently operating in 50 states and several provinces in Canada, Australia, Mexico, Europe, and a few other countries. Future expansion plans include all 50 states and international growth. 

Are there different divisions at eXp Realty? Yes, we currently have residential, commercial, REO, and a luxury division. 

Who is the broker for eXp Realty? Each state has at least one state broker. Some larger states also have several compliance brokers to help with reviewing files. 

How many agents does eXp Realty have? We are constantly growing but as of October 2020 we have over 37,000 agents. 

What is revenue share? For every agent that you introduce to and joins eXp Realty, you will receive a portion of their annual commissions, paid from eXp’s split. You will also receive revenue from agents they attract up to 7 levels deep. The revenue share component of eXp Realty is the way you can create residual income streams even after you stop selling real estate. Rev share is one of the most compelling reasons agents join eXp Realty. 

How does an agent build rev share? Simple. Introduce eXp Realty to other agents that you know. If they join, you become their sponsor and you will receive up to $2800 annually from each of them (3.5% of GCI until they cap). You will also get rev share from whoever they recruit, all the way down to 7 levels. 

How much rev share can we earn? For every agent, you personally recruit (your first line) you can earn up to $2800 annually if they cap.  You only get paid until they cap. You get paid on 7 generations. There’s no limit to the amount of rev share you can earn! 

Do I have to recruit agents? No. It’s up to you. However, there is a great opportunity to build a passive income stream if you do attract agents to eXp Realty. Ask your sponsor for help. 

What is the split? Everyone at eXp Realty has the same split no secrete deals 80/20 until the $16,000 cap is achieved, at which time you go to 100% split for the remainder of your anniversary year. 

What is the cap? eXp agents cap when they pay $16k to the company. That equates to generating $80K in gross commission. 

Where is eXp stock traded? eXp stock is traded on the NASDAQ stock market exchange. 

What is the ticker symbol? The ticker symbol is EXPI. 

How Much Does it Cost to Join eXp? When you join eXp Realty you pay a $149 fee. If you are joining as a husband and wife team you will both pay the $149 but once you are active you will get one of the fees back. Also if you are joining as a husband and wife team you will only have one set of fees and one low $16,000 cap. 

What are the monthly costs? Once you are an agent affiliated with eXp Realty you only pay $85 per month that goes for your website and the 80+ hours of live training per week. That’s it for monthly fees.

Does eXp Realty charge an annual “Royalty Fee” like some companies? No, we don’t, and there are no desk fees either. 

What is the eXp cloud campus? The cloud campus, also known as “eXp World” is our virtual world where agents and staff meet on the web for training, collaboration, meetings, and support. You can join and tour our campus for free. Call or text me @ 734.972.7388 to get an invite to eXp World. 

Does eXp Realty offer training? eXp Realty offers approximately 80+ hours of live training every week, plus a full library of on-demand training through our Career Expressway. Plus if you name me as your sponsor you will receive weekly coaching meetings from me and my sponsors.

Where are the classes and meetings held? All of our classes and meetings are held in the eXp World. We have everything from a large auditorium to small intimate spaces to meet clients. You can even meet with the accounting department, tech support, and your broker.

Does eXp Realty have conferences? Yes, eXpCon is our annual conference held in different cities. Past conferences were held in Las Vegas, Chicago, and San Antonio. We are excited to announce eXp Con is going to be Virtual this year because of Covid. We also have annual ownership meetings for stockholders. If you name me as your sponsor we have a few additional masterminds a year for our group. The next one is going to be in St. Lucia

What tools are available to agents? eXp Realty offers a wide array of tools for agents including A free kvCore IDX Website (worth $400 per month) eXp World cloud campus Regus Worldwide Membership, Skyslope Transaction Management Platform 

What kind of agent support do you offer? eXp Realty offers superior agent support. Each state or region has an “agent services” person and a transaction coordinator. You simply log in to eXp World and go to the department you are looking for and ask for help. 

What kind of tech support do you offer? eXp Realty has a whole division that offers tech support. Need help with eXp email? Wondering how to use Google apps? We got you covered. Live tech support is located in the eXp Cloud Campus. You can email them or set up a phone call as well.

What is the process of joining eXp Realty? Easy, just go to www.johnkinnunen.exprealty.careers and fill out the simple application. Name me as your sponsor and make sure you see a confirmation that your application was successfully submitted. The application will be forwarded to the state broker for approval, after which the agent services department will start the onboarding process.  Once you are active you will receive my Facebook leads class for real estate agents and Gogos Social media boot camp for free as well, among all the other perks on this page here.

What if I have additional questions? Call me (John Kinnunen) @ 734.972.7388, and I’ll be happy to assist you in gathering all the information you need to perform due diligence as to whether eXp is the right brokerage for you.