eXp Realty Real Estate Commission Calculator With Broker Split and Comparison
EXP REALTY COMMISSION CALCULATOR WITH SPLIT COMPARISON
Try our eXp Realty calculator below to see what commissions you could be earning under a Real Estate Capping Model.
Enter the details of what you earn in your current office and the eXp Realty calculator will show the real estate commission split comparison.
HOW DO THE RESULTS FROM THE EXP REALTY COMMISSION CALCULATOR COMPARE?
So you’ve tried out our eXp Realty Commission Calculator to check out your potential earnings under a Capping Model.
Start earning what you are worth.
And get the best benefits in the industry!
This eXp Realty calculator is based on their real estate Capping Model, which eXp Australia offers its agents plus many other industry-leading and industry-first benefits.
Find out more about what eXp has to offer its agents.
HOW TO USE THE EXP REALTY COMMISSION CALCULATOR
Like other online calculators, you can use this eXp Realty commission calculator easily without computing your calculations and comparisons manually.
Follow these easy steps to use our eXp Realty calculator to determine the real estate commission split comparison:
First, input the Number of Sales you expect to settle for the year into the eXp Realty commission calculator
Second, input your Average Commission Charged per Listing as a dollar value (just input the number into the eXp Realty calculator without the $ sign).
Then, input the Franchise Fee Percentage your Office Pays, if applicable (without the % sign)
Now input any additional Fees you may pay, e.g. Royalty or Desk Fees, as an annual figure
Finally, input what your Percentage Split is with your Office, so if it’s 70/30 where you get 70%, then input 70 (without the % sign).
After you’ve entered all the values, the eXp Realty calculator will automatically generate the Income amount you earn in your current office.
The eXp Realty calculator is an easy-to-use real estate commission calculator with broker split that will calculate what you could be making if you transacted under eXp’s Capping Model. The eXp Realty commission calculator will also calculate the difference in your earnings between your current Office and under the capping model.
WHAT IS A REAL ESTATE CAPPING MODEL?
A real estate capping model is where an agency includes a “cap” into its commission structure.
What’s a cap? It’s a set amount of production. In this case, our calculator uses a cap of $100,000 GCI.
After an agent gets to the cap amount, they're no longer required to pay a split to their Office. Capping means the agent receives 100% commission for the remainder of their anniversary year when the cap resets and starts again.
Capping is something that is new to the Australian real estate industry, so it's a good idea to conduct a real estate commission split comparison to see how it can impact your income. You can do this comparison using a real estate commission calculator with broker split.
The real estate commission split comparison calculator above is based on eXp’s Capping model, where the commission split is 75/25 on the first $100,000 GCI, upon which you will “cap”. Therefore, the cap is $100,000 GCI and the maximum payable to eXp is $25,000 (25% x $100,000). There's also no eXp Realty franchise fee applicable, as the company is agent-owned and isn't franchised.
This means that eXp will only get 25% of commissions on each settlement up until the amount they've collected reaches $25,000. Once that occurs, you'll receive 100% of your commissions from your settlements until your anniversary year comes around and it starts over again.
So, the maximum in commissions you'll ever pay to eXp under their capping model is $25,000. Whether you earn $100,000 or $1 Million GCI for the year, you'll only pay $25,000 to eXp as your split.
Calculate your commissions using our real estate commission calculator with broker split and see what you could be earning under eXp Realty Australia’s Capping Model. It'll give you an indication of the real estate commission split comparison between eXp and your current office.
REAL ESTATE COMMISSION SPLIT COMPARISON
HOW IS A REAL ESTATE COMMISSION SPLIT COMPARISON NORMALLY CALCULATED
Let's look at how a real estate commission calculator with broker split works and where it gets its figures from.
An agent's income from real estate commissions is typically calculated in the following way:
You make a $400,000 sale with a 2.5% commission rate, which would be $10,000.
According to an agreed-upon amount, this $10,000 gets split between you and your real estate office (let’s say a 50/50 split).
Sometimes, if it’s an office-generated lead, an additional percentage will be taken off the top, generally between 10-20%, but we won’t add it into this calculation for simplification.
This means $5,000 goes to you for listing and selling the $400,000 home, and your Office also gets $5,000
If there are additional franchise fees, desk fees or royalty fees, then these will also come into the equation
Bear in mind that this calculation doesn’t consider any additional franchise fees, desk fees, royalty fees or other expenses, such as marketing expenses, signage costs, reductions in commission, etc. But you can get a quick comparison by using our real estate commission calculator with broker split above.
Your overall earning potential as a real estate agent isn’t solely dependent on how many sales you can settle and your commission per sale.
It greatly depends on the following factors as well:
How much split you’re paying to your Office
What additional fees there are
Other commission reductions
How many hours you put in
Whether you’re a licenced real estate agent or salesperson
Your level of training; and
Which part of the country you work in
Now that you know more about how a real estate agent’s income gets calculated and have seen how the real estate commission calculator with broker split works, find out what other benefits eXp Australia offers its agents.
ARE YOU NEW TO THE REAL ESTATE INDUSTRY?
Perhaps you’re considering a new career starting as a real estate agent. And before starting any new career opportunity, there’s always one important question that arises. “How much money am I able to make?”
If you’re new to real estate, it's essential to understand how a real estate agent’s income is earned. Obviously, real estate agents are hired by their clients to sell or purchase properties. And the income of an average real estate agent varies each year because their pay gets calculated on performance-based commissions.
Your earnings per year are based on the number of properties you sell and the commission you make on each sale. Typically, you will also work under the direction of an agency, and you will need to split your commission with them.
You list and sell the properties, and the commissions you make will then be split among you and your agency, based upon a contracted amount or percentage. Other fees may also be involved, such as desk fees, franchise fees, and royalty fees.
The real estate commission split you receive will vary from agency to agency, and depending upon what else they offer, it generally ranges from 40 to 90%. So, it’s crucial to know what you’re getting for the split you pay to your agency.
A higher amount paid to the Office should mean that you're getting other benefits such as admin assistance, training and development and access to tools and systems to help you succeed.
A real estate commission split comparison can also be overwhelming trying to compare what’s on offer from different agencies. You can see all the additional benefits of the eXp Realty capping model, which has a 75% split for the first $100,000 GCI, then 100% after that, by checking out the complete eXp Australia offering.