eXp eXplained: Exactly How It Works

What are the costs of joining eXp Realty?

eXp offers competitive 80/20 splits with a $16,000 cap. The hidden truth other brokers don’t tell you about eXp: Once you cap, if you're able to close 20 more transactions within your calendar year, you're eligible to receive all $16,000 back in eXp stock! Just ask me how it’s done! I’ve earned my cap back! Once your $16,000 cap is met, your fee drops to $250/transaction and eventually that drops to $75/transaction.

**Please note that when you run a team, your team agents' caps can be reduced to as low as $4,000 vs $16,000. There are also lower costs for spouse teams. We can discuss this in more detail as well.

What are the various revenue streams available to eXp agents?

1. Transactions: Just like you are doing now, continue to sell real estate and earn your hard-earned commission!

2. Referrals: eXp has built a phenomenal agent-to-agent referral system. They also have several referral pages in our Workplace groups that are specifically geared towards referral wants and needs. Referrals also count towards your cap! Can you say win/win?

3. Health Insurance: not a revenue stream, but it can be a lifesaver. Let’s face it, many of us are self-employed and paying a small fortune for basic health insurance. This added bonus is much-needed relief for those who need it.

4. Stocks: eXp is a publicly traded company, and once you start earning stocks you become an owner in eXp. How awesome is that? Stocks are awarded at various stages of your production and also from agents you attract to the company. You are also given the option of purchasing stocks at a discount. I look at this as an automatic savings plan.

5. RevShare: Once you make a move, your colleagues in the business are bound to ask you about it. If they join, you will start earning a portion of every sale they close, until they cap. Keep in mind, that rev share comes from eXp, NOT the agent. The opportunities here are endless. See the image below for how revenue share works at eXp:

What kind of support & training do you offer agents?

If you are a local agent (outside of MN, you’ll be zoomed in) you get benefits such as: invites to learn from the North Star Alliance within MN (top-producing eXp line in MN), regular check-ins to see how your business is doing, you get access to the endless amounts of systems, lead sources & SOP’s that I have created, you get access to in-office training with me and my team, along with everything that Fast Forward Movement, eXp national and eXp state offers.

If you are a new, solo agent, eXp will assign you a mentor as well (I'm also able to mentor you through eXp). Our eXp brokers are knowledgeable and overall fantastic to work with. eXp offers approx. 50 different training sessions a week. Yes, a week. Everything from local contract training, to new agent training, and training from top-producing agents on how they built their business. The collaboration is second to NONE. Rumor has it, several agents have found so much value in eXp training, that they have opted out of their paid coaching programs.

A recap of the numbers:

80/20 commission split

$16K company cap, then $250 transaction fee (this will eventually drop to $75/file once an agent does an additional 20 units)

$149 start up fee (includes first month Cloud Brokerage fee)

$91/mo Cloud Brokerage fee (this includes your own KV Core transaction management system and eXp World)

$60 risk management fee (e&o) with $750 annual cap (may vary by state)

$25 broker review per transaction

Now that I know how it works at eXp Realty, how does it work with you? Do I have to join your team?

NO you don’t. And that’s the beauty, we are business partners whether you are on my team or not. Here are the ways we can work together:

Join as a new agent. You will be assigned a mentor through eXp Realty. However, you will also have me and 6 other business partners as a resource for additional training, guidance, and support.

Join as a solo agent. You run your own business the way you have been, just maybe more efficiently once you are here. You have me as a mentor along with 6 other business partners and resources for taking your business to the next level.

Join as a domestic partnership: You will run that partnership however you see fit and you will also have support from me and your 6 other business partners and resources for anything you may need.

Join as a team leader. You will run your team however you want. Now this is where you will really benefit. You have access to my systems which have been perfected over many years in the business. Through losses, wins, etc….I have built an organized and efficient business model. I’m an open book to whatever you may need! Best part? You get the team leader playbooks from your other 6 business partners in our organization as well!

Join as a team member under a different team. You still have your team's leadership, but anything I give them access to…you get access to as well. This can be anything from training to coaching, to event invites and more.

Join as a team member of The Tyler Miller Team. You will have a reduced cap of $4,000 vs $16,000 along with all the amazing value-adds that we provide exclusively to our team. Message me for that separate list.

Need More Info?

I understand this amazing business model is tough to grasp.

Schedule a 30-minute call with me!