eXp Realty Explained
How Does the eXp Model Work?
THE ESSENTIALS YOU NEED TO KNOW ABOUT EXP REALTY AND HOW IT WORKS
As the world's leading Cloud-Based Real Estate Brokerage, eXp Realty has taken the United States by storm. Attracting real estate agents at a greater rate than any other brokerage ever before. What's more, it's completely Agent-Owned.
We joined eXp Realty back in 2020. And it's not only streamlined our real estate business. It's given us more freedom and wealth and significantly improved our work-life balance. Check out more about our background and why we transitioned into eXp Realty here.
So, how does eXp Realty work? Let’s explore how eXp works in detail and how the model can work for you and your future. Also, if you'd prefer to watch the content, please see the eXp Realty eXplained Video presented by Brent Gove.
What We'll Cover On eXp Realty
ABOUT EXP REALTY
What's the Story Behind eXp Realty?
Glenn Sanford established and founded eXp back in 2009.
Before this, Glenn led a real estate team at Keller Williams, transacting around $60 million annually in sales.
The property market crash hit in 2008, and Glenn, like many other real estate agents, experienced significant losses and was left with huge overheads.
At this time, Glenn thought there had to be a more innovative and better way. Agents should be able to build and grow their businesses with much less risk involved. So, with this in mind, Glenn came up with the eXp real estate model in 2009.
It didn't take long before eXp Realty expanded into 11 states by 2010. And Glenn decided to take the company public in 2013.
That decision is what enabled eXp's agents to be able to become owners of the company through earning stock. Just for doing what they already do, closing real estate sales.
Then, in 2015, the ICON agent award was introduced by eXp. This quickly resulted in the growth of over 300% in eXp Realty in the following year.
eXp Realty was operational in all 50 states, as well as Canada, by 2018. Fast forward to today, and eXp Realty has 79,000+ agents across 21 countries, including the United States, Canada, Australia, the United Kingdom, India, South Africa and many more. See our eXp Global page to learn more.
How Can eXp Realty Be Sustainable?
When agents are first shown the eXp Realty real estate model, one of the big questions we get asked a lot by agents is about the company's sustainability. How can eXp offer such a great model to agents and be sustainable?
From lead generation tools, revenue share, stock awards and cost savings in everything it offers. eXp Realty gives its agents so much.
So it's no wonder that agents question whether the eXp real estate model is profitable. And more importantly, whether it's able to be sustainable moving forward.
The answer we have to this question is yes. eXp Realty's business model is incredibly sustainable. Let's look more into why this is the case.
eXp Realty's parent company, eXp World Holdings, has very little if any debt. And since Q4 of 2019, it's also reported a profit for every quarter.
This revenue sharing model is so sustainable that eXp can pay up to 50% back from the company's revenue dollars to its agents. This allows the remaining 50% to be put towards its operating costs and profit.
Also, since eXp Realty doesn't have any physical offices, its overheads are significantly less than comparable brokerages.
Looking at eXp's financial earnings for each quarter, you'll see that the company's fixed operating costs only account for about 30% of the company's revenue. Leaving around 20% to report as a solid profit margin. Much higher than most real estate brokerages.
In addition, most brokerages make most of their profits from their related services such as mortgage, insurance, property or rental management, title, and partnerships with other businesses. They generally only break even from their real estate sales division.
With this in mind, for eXp World Holdings, there are even more significant benefits to be gained, as the company is only just beginning to look at business opportunities such as these in addition to its real estate operations.
Finally, now that eXp Realty's operations span globally, eXp no longer relies on the performance of just the United States real estate market for its sustainability. Its diversification is what's making eXp's future sustainable.
By expanding its operations into more countries and different areas of business, eXp is becoming increasingly diversified, increasing its sustainability.
EXP AGENT RESOURCES AND TOOLS
Do eXp Realty Get Provided With Leads From The Company?
eXp Realty does provide a handful of leads to its agents. However, they’re generally not enough to be able to carry on and solely maintain a business.
Through its corporate website, eXp Realty generates leads. Then they’re filtered through, in a round-robin system, to agents within their markets.
Leads like this are allocated via kvCORE. And how many leads you get assigned to you will depend on both the number of eXp agents and buyer and seller demand in your area.
Overall, agents should consider these types of leads as a bonus. Agents shouldn't rely on them as their primary source of business.
Instead, the genuine opportunity concerning lead generation comes from eXp Realty providing its agents with access to kvCORE to implement into their business.
eXp Realty provides all its agents access to kVCORE, a revolutionary real estate platform for lead generation.
Giving agents their own lead-generating website and CRM database in the back-end, kvCORE (previously Kunversion) is an all-in-one solution for lead generation.
Together, this integrated lead generation system assists agents in generating leads from different sources, using both traditional and online methods.
The personalized website at the front-end not only looks impressive, but it's also a valuable source of information for any potential leads or clients.
Users of the site can create their own accounts, allowing them to save property searches and properties so that they can be notified of any changes.
You'll also get great insight into user behaviours by seeing which properties they're viewing, saving and what searches they're interested in.
Then there's the CRM. This powerful system gives agents the means to manage their leads without compromising client communication through a huge database.
Features that set apart the kvCORE CRM include automated trails and drip campaigns for email, direct texting from the CRM, and the creation of lead-generating squeeze and landing pages. And all this can be done even if you're not a tech-savvy agent.
Skyslope is the transaction management platform that eXp Realty utilizes. eXp's agents use Skyslope to organize their transactions, get forms signed and further upload documents to the transaction and broker team at eXp Realty.
Skyslope gives eXp agents the confidence of knowing that their file is complete and has also been checked by eXp Realty's transaction coordinators and the state broker.
So, whenever you have a new file, Skyslope can populate a checklist from the details you input based on requirements in your market for the type of file you're working with.
All of the required documents will have a red mark next to them. Then once they're submitted, the red light turns to yellow, and the document gets reviewed by the transaction team at eXp.
The status will be approved if the document is complete and correct. And you'll get a green mark put next to the document.
You can easily see what hasn't been satisfied for a file to be completed. Then once all the documents have been submitted, eXp Realty's transaction coordinators will issue you with a "Disbursement Authorization".
Providing the "Disbursement Authorization" to the title company ensures that you receive a separate check from eXp Realty. This means you'll get paid at the closing table.
eXp World, which is powered by the technology of Virbela, is a virtual environment that agents log into and receive support and training.
After you download the software to your computer, you create your own avatar (virtual person) and can explore the campus and visit an array of departments and training rooms. It's very simple to use.
You'll also be able to access your broker state room and receive live and on-demand support from your state broker and transaction coordinators, all within eXp World.
Some of the additional support departments you'll find within eXp World include onboarding, tech support, accounting and team services.
In addition, there are several auditoriums and classrooms which you can join for live training, which is held throughout the day.
Every Sunday evening, a training calendar gets posted that displays all of the upcoming training for the week and lets you know where inside eXp World you can access it. You just show up when and where the scheduled training is taking place, and you'll get access.
Click here to get your free 2-week guest pass to eXp World, where you'll have the ability to be able to explore the entire campus, attend training and interact with other agents and staff inside the World.
All agents at eXp Realty get access to the eXp Enterprise platform. Its dashboard displays the details of all closed and current transactions, the fees and cap paid so far, and eXp stock earned and revenue share balances.
This means that you'll be able to track your cap, the earned income for a selected period and the number of agents in your revenue sharing organization at any given time.
You no longer have to manually track and update your goals, commissions and transactions in a spreadsheet. Simply log in to eXp Enterprise, and you'll be able to view all your transaction details back to when you first start with eXp Realty.
eXp Enterprise ensures efficiency and accuracy in recording and displaying some of an agent's most important information.
Branding and Marketing Center
With eXp Realty's comprehensive branding and marketing center, agents joining eXp Realty will be able to access a complete library of marketing materials and templates.
From day one, eXp Agents can access these materials and modify them to make them their own.
So long as compliance with state advertising laws is met, eXp Realty fully supports its agents in branding themselves how they see fit.
Among the popular resources which can be found inside the marketing center are listing presentations, buyer presentations, listing and open home flyers, social media resources, and buying and selling guides, just to name a few.
Workplace By Meta (Facebook)
One of the most used tools in eXp Realty is Workplace By Meta. The Workplace platform is indistinguishable from the standard Facebook we're all so used to.
The difference is that it's an isolated platform only accessible by eXp Realty's staff and agents. Like Facebook, there are versions available for both desktop and mobile.
Taking a look into eXp's Workplace, you'll see a news feed full of valuable posts by agents, recorded training, referrals and important announcements.
Just like Facebook, you're able to join groups. Group examples include real estate training, referral networks, your state group, kvCORE, lead generation discussions, etc.
Finally, built into Workplace is Messenger, which works and looks exactly like it does on regular Facebook.
This means you're able to message anyone who works in eXp, from any country, from anywhere in the world. And you can get quick responses on what you need from eXp staff, other eXp agents, and your state broker.
Communicating, collaborating and meeting new agents within eXp worldwide has never been easier.
eXp's Partnership with Regus Office
Regus provides coworking spaces within its offices and are available in over 13,000 locations across the United States and has offices worldwide.
Free membership to Regus shared workspaces is given to all eXp Realty agents upon joining eXp.
You can drop into a Regus office, use their wifi, enjoy a tea or coffee and get your work done.
You can even book an office space or conference room by the hour if you'd like to meet a client. It's an extra fee to do so, but at a very affordable price (usually about $30/hour). Regus also has receptionists who will greet your client at the front and direct them to the office you're in.
And for those agents wishing to upgrade to fully reserved office space, you receive a discount and can book it on a monthly basis.
EXP REALTY SUPPORT AND TRAINING
Unrivalled Training and Support
Training is something that you’ll have a lot of access to when you join eXp Realty.
You’ll never be short of training and always be able to find information and training on what you’re after.
eXp Realty hosts over 50 hours of live training weekly.
For the most part, this training is recorded and then uploaded to the ever-expanding library of eXp on-demand training.
Most of eXp Realty's training is also hosted by top real estate agents in the industry nationwide and around the world.
They share their strategies and resources, which they are using to win business in the current market and also hold training on other aspects such as personal growth, development and mindset.
Think real estate conference. But it's free. And it's available to you every week and on-demand.
Trainers cover a variety of topics every week. And there's an array of different perspectives from agents who share what is working within their specific marketplace.
Weekly Live Training
As mentioned earlier, eXp plays host to over 50 hours of live training weekly. Agents can pull up this training via eXp's cloud campus wherever you have internet access.
Topics for training range from real estate dialogues and scripts, lead generation strategies, state contract training, social media strategies and management, blogging, videos and lots more.
Training is done by eXp ICON agents nationwide and around the world. As eXp Realty's most productive agents, team leaders and associate brokers, ICON agents have reached a specific production requirement.
For this reason, eXp sets itself apart in terms of providing quality training to agents within the company. There's nothing else out there like it!
eXp's Library of On-Demand Training
Let's say you happen to miss one of the many eXp training sessions. Or maybe you'd like to research some of the 1,000's of eXp Realty training sessions recorded from past training.
With the Training Library at eXp University, you can do just that! And it's categorized by topic, so it's easy to find what you're after.
Anytime and from anywhere, you can access the University's library of training content.
Mentoring Program at eXp Realty
If you're new to the industry and wondering what kind of assistance there may be to ensure you're set up for success. Then the eXp Mentor Program will be something that might interest you.
Upon starting with eXp Realty, new agents who have not yet closed three transactions within the 12 months prior will have a mentor assigned to them.
All mentors within eXp Realty must meet a certain level of production before they are allowed to mentor other agents.
Your allocated mentor will be a local real estate agent, so they can better understand your needs and the challenges that you may face within a particular area.
If the new agent has any questions, their eXp mentor is only a phone call away to assist.
Another way eXp helps new agents hit the ground running is through the many modules full of training lessons in their custom-built system for managing mentor learning. It's such an excellent tool for new agents.
Until the mentee closes their first three transactions, they will effectively be on a 60/40 split as an additional 20% split will be paid by the mentee to cover the mentoring cost for these first few transactions.
The standard 80/20 eXp commission split will apply following the closure of the mentee's first three transactions. That's when they become a mentor program graduate.
Coaching by SUCCESS
In 2020, the SUCCESS brand and SUCCESS magazine were acquired by eXp Realty.
Following this, they announced the exciting news that additional coaching would be available through the SUCCESS coaching platform for eXp Realty agents.
Real-Time Specialist Support
Support to its agents and brokerage functions is paramount at eXp Realty, so they have over 1,000 corporate staff available to help and provide support.
This real-time specialist support is available from the eXp team Monday to Friday, 11 hours a day. Help is available directly from staff via Workplace Messenger, text, email, phone, or simply visiting them in eXp World.
Support from eXp staff is available in onboarding, transaction management, tech support, team support, IT, agent concierge, accounting, HR, plus many more departments.
Support From Your Broker
A common question we get asked by eXp agents is, who is their broker, and how can they get assistance from them.
In all 50 states, eXp Realty has an appointed managing broker. And depending on the number of agents, there may also be Assistant State Brokers in your particular state.
Because state brokers get paid a salary, they're not competing with their eXp agents. It also means that brokers focus more on supporting agents within their state and are much more accessible.
Support For Transaction Management
eXp Realty provides agents with dedicated experts in transaction support to ensure that agent files are accurate and complete.
By using Skyslope, eXp agents can submit for review their documents and instantaneously receive feedback.
Also, to ensure that agents receive their commissions directly at closing, the title company is forwarded disbursement authorizations created by the transaction coordinators at eXp Realty.
Collaboration and Support Amongst Agents
Because of eXp World and Workplace tools, eXp agents can collaborate with and get support from fellow agents, eXp Realty Staff, and brokers.
As an eXp agent, you can get almost instant answers to your questions. Just post a question in Workplace, and guaranteed, you'll have a response within minutes.
Other agents are only too willing to help you out. Also, you may even find a quick answer to your question by using Workplace's in-built search tool.
EXP EVENTS - VIRTUAL AND IN-PERSON
Attend eXp Events Your Way
Every year, eXp Realty hosts EXPCON and the Shareholder Summit – two mammoth in-person events.
Agents travel in the thousands just to attend these events. They come from all across the globe to listen to international keynote speakers and learn from some of the industry’s leading agents.
And by owning the SUCCESS brand, eXp Realty can provide keynote speakers such as Tony Robbins, Grant Cardone, Rory Vayden, and many more like them.
These massive company-endorsed events are not the only events you'll see within eXp. You'll also find many agent-organized events being held every year, which you're invited to attend.
EXP REVENUE SHARING EXPLAINED
What is eXp Revenue Sharing?
One of eXp Realty’s unique value propositions is the opportunity to earn additional income streams, which it gives to real estate agents.
Revenue sharing is one of these income streams.
Now, you may have heard different things about what revenue sharing is.
So, let us tell you what it is from the perspective of eXp agents that have been listing and selling real estate successfully under the eXp real estate model.
Basically, it's a way in which eXp can give back to its agents for helping the company to grow. They do this by sharing a percentage of company revenue that eXp collects from commissions that are earned.
It should be noted that this revenue share comes from eXp Realty's part of the split, NOT the agent's.
So, how is it possible for eXp to provide revenue share for its agents and still be sustainable? Most traditional brokerages experience expensive overheads. But being a cloud-based real estate company, eXp Realty does NOT have huge operating costs.
Such expenses include the cost of having a physical office, redundant employment positions, and the added cost of franchise owners, team leaders and corporate recruitment staff.
Instead, eXp can reward off the top to its agents. And it does this by way of providing revenue sharing.
Regardless of whether an agent who's referred to eXp is in the same state, a different state, or even another country, revenue share can be earned by agents all across the United States, Canada and the globe.
Revenue Share is also paid on every deal closed by an agent, up to when they cap. This is regardless of whether the agent closes one deal during the year or is an eXp capping agent.
Learn more about eXp's Revenue Sharing and how much you could earn.
EXP REALTY STOCK AWARDS
Powerful Equity Opportunities
One of the significant benefits of choosing to build your business within eXp Realty’s model is the opportunity to become a part-owner in the company you work in partnership with.
In other words, eXp Realty gives you shareholdings in its company stock for closing deals and sharing the eXp real estate model with like-minded agents.
Agents in eXp Realty can earn company stock in three main ways: Sustainable Equity Plan, ICON Agent Award and Agent Equity Program.
eXp's Sustainable Equity Plan
By selling real estate or doing what they usually do, eXp Agents are given the opportunity to get free shares in eXp Realty's company Stock under its Sustainable Equity Plan.
This equity plan grants eXp agents stock when they close their first deal each year, when they reach their cap, and when they refer another agent into the company, and they close their first transaction.
It should be noted that this free stock granted to eXp agents is vested for three years. For three years from when they are awarded the stock, an agent needs to stay as a member of eXp Realty to cash out on the shareholdings.
ICON Agent Program
Top agents within eXp can become eligible for the eXp ICON Agent Award. The criteria for this ICON award require agents to reach their commission cap, then follow this up with enough transactions to equal another $5,000 in transaction fees paid to eXp within the same anniversary year.
Agents who achieve this will get the $16,000 they put into their commission cap (which got paid from their commission split) back in the form of EXPI company stock.
In other words, an eXp agent will hit their commission cap of $16,000 by earning $80,000 in gross commission in one year, with 20% of this going to eXp, equalling $16,000 for eXp's split.
Once they've hit their cap, the agent then earns 100% of their commissions, with only $250 being paid for each transaction fee.
Then, when the agent closes an additional 20 deals with the $250 transaction fee equal to $5,000, they'll now be eligible for ICON status and its associated stock award.
So, let's take $6,000 as an average commission amount. This would mean that an agent, on average, should expect to achieve ICON status after closing around 32 deals within a 12 month period.
eXp Realty Agent Equity Program
An agent who has joined eXp can also purchase stock at a discount by taking advantage of the direct purchase plan offered by eXp Realty.
This stock program is entirely optional.
But if an eXp agent does choose to opt-in, they can have 5% of their pre-tax GCI deducted automatically to purchase eXp shareholdings at a discounted rate of 10% off the publicly-traded market price of the stock at the time of purchase.
TYPES OF TEAM STRUCTURES IN EXP REALTY
How Do Team Structures at eXp Realty Work?
There are several different structures for teams within eXp Realty available to position yourself in such a way that helps your real estate business grow exponentially.
eXp’s unique business model also provides its agents with the means and opportunity to build what we call a seventh-level business.
By utilizing this type of model, the company has seen hundreds if not thousands of agents earning monthly passive residual income. Learn more about the seventh-level business model.
So, now let's look at the different team structures that eXp offers.
The self-organized team structure requires no minimum production from its Team Leader, with each agent on the team working on transactions independently of their Team Leader as they choose. This means that each agent also has their own $16,000 Cap.
Those choosing this type of team structure generally use it for marketing reasons and opportunities for leverage.
This type of team is for couples who are married, and both have their real estate licenses. By joining forces as a team in eXp, they can share a single $16,000 cap with only one monthly $135 fee.
The standard eXp Realty team structure requires a minimum sales production of $6 million within the last 12 months for Team Leaders.
Agents who are part of an eXp standard team will be eligible for a "half-cap". This half-cap equals $8,000, exactly half of the total cap of $16,000. The Team Leader is also entitled to a minimum of 25% from each team agent deal.
Mega ICON Teams
To qualify for a Mega ICON Team, a minimum sales production of $40 million within the last 12 months must have been achieved by the Team Leader. As well as having at least ten agents on their team.
Agents part of an eXp Mega ICON Team will be eligible for a "quarter-cap", equal to $4,000. Like a standard team, the Team Leader is entitled to a minimum of 25% from each team agent deal.
Check out more information on Team Structures in eXp Realty.
COMMISSION SPLIT AND FEES AT EXP REALTY
What are eXp Realty's Fees and Commission Split
eXp Realty believes that the broker's proposition to its agents must be of such value that it'd be crazy for agents to hang their license at any other brokerage.
With exp's extremely low start-up cost, super-low monthly fees and the massive amount of value gained by agents joining eXp, this all supports this belief.
Agents joining eXp pay $149 as the initial low start-up cost, which even includes 1,000 business cards. Then the $85 monthly fee covers your all-inclusive real estate tools, training, tech and support.
All eXp agents are on an 80/20 commission split with a $16,000 cap.
Once an agent achieves $80,000 GCI in sales commissions and "caps", they get 100% of their commissions after that with a transaction fee of $250 for closed transactions. And this fee will then reduce to $75/transaction after paying a total of $5,000 in transaction fees.
The other fees applicable to eXp agents per transaction are $25 for broker review and $40 for risk management.
These fees above all apply to US agents.
If you're a Canadian agent, the split remains the same, but fees are $199 for initial start-up and a $139 monthly fee. Then the fees applicable per transaction are $29 for broker review and $17 for risk management (with a $200 cap).
Check out our complete information on eXp Realty commission split and fees.
JOINING EXP REALTY
What are the Next Steps?
You've explored through all the great benefits that eXp Realty has to offer.
And you've seen what it's doing to improve the businesses and livelihood of so many other agents.
So, now you're considering joining eXp Realty. What are the next steps?
If you're considering joining eXp Realty, it's as easy as following these three steps:
(1) Register your interest to join eXp Realty here and complete the form by clicking on the "Register to Apply as an Agent" button (it'll take you around 5 minutes).
(2) Once you've completed your registration online to apply as an agent, you will be contacted to discuss your application further and check your details. The independent contractor agreement will then be sent out immediately by eXp Realty for you to review.
You will also name your chosen sponsor at the very end of the agreement before electronically signing it for submission. See FAQ about choosing an eXp Sponsor.
(3) Upon your completion and submission of your independent contractor agreement, your state broker will send you an email outlining the steps on how you can transfer over to eXp Realty your state license.
Choosing Your eXp Sponsor
If you want to discover more about the benefits of choosing and naming us, Alex and Felicity Harden (Founders of One Great Force), as your sponsors in eXp Realty, check out our Partner With Us At eXp Realty Page.
By partnering with us, you'll get access to all of our exclusive training, business strategies and planning, templates, scripts and dialogues and much more.
We also hold weekly training sessions via Zoom sessions and have a private Facebook Group and Workplace Chat Group, to which our partners all get access.
This is in addition to all of the great benefits already offered by eXp Realty and is free if you decide to partner with us at eXp Realty.
The eXp Onboarding Process
After you become formally licensed and brokered by eXp Realty in your state, eXp's onboarding team will begin to set your account up in kvCORE, eXp Enterprise, Skyslope and Workplace.
Note that it can take about 3-5 business days for kvCORE to get set up. However, you'll have access to most of all the other tools either by the end of that day or within one business day.
Learn more here about the complete eXp Realty onboarding process.
EXP FAQ - YOUR QUESTIONS ANSWERED
Find a complete list of eXp Realty Frequently Asked Questions on our eXp realty FAQ Page. Explore answers to some of the main FAQs below.
How long's eXp Realty been operating for?
eXp Realty has been around since 2009 when its founder Glenn Sanford established it.
Learn more about Glenn Sanford and eXp's establishment.
Is eXp a Pyramid Scheme?
By definition, pyramid schemes are illegal. Being a publicly-traded company, eXp Realty gets audited every year by the Securities and Exchange Commission. It has its books open for all to scrutinize every fiscal year.
Some non-eXp Realty agents tend to label eXp's real estate model with terms like "Pyramid Scheme" or "MLM". This is far from the truth, but it's because they aren't completely aware of eXp's model, nor do they fully understand how Revenue Sharing in eXp works.
And how could they? They don't work and earn money transacting in eXp like we do, each and every single day.
Although eXp Realty may be the first of its kind to offer Revenue Sharing in the real estate industry, it's certainly not the only company out there offering Revenue Share to its agents.
In fact, this type of model has existed for decades in numerous other industries. And the lesser "profit-share" model is even more prevalent across most industries.
So, in answer to the question "is eXp Realty a pyramid scheme". That's a simple, factual and strong "NO" eXp is NOT a pyramid scheme.
Read more about Pyramid Schemes and eXp Realty to get the full rundown.
Are you required to join a real estate association if you join eXp Realty?
Yes. You’ll need to join your local board of Realtors and become a member of the National Association of Realtors.
Is eXp Realty good for a part-time agent?
When asked about their decision to go with eXp Realty, the vast majority of part-time agents, both new and those in the company for years, say they're thrilled with their choice of brokerage over others.
One of the significant advantages for part-time agents is the flexibility of training, the easily accessible support, and the low-cost entry and fees that eXp Realty offers to all agents.
What if I'm licensed in multiple states?
If you're an agent who has a license in more than one state, then eXp Realty is definitely a brokerage of choice.
For every state in which you hold a license, you can join eXp Realty. And the best part is you're only required to pay a single commission cap with only one low monthly fee payable.
Being one huge brokerage, as opposed to a chain of franchises, eXp Realty agents need only know one series of systems and procedures. And all of their transactions come under this single set of systems.
Also, irrespective of the number of states an agent may work, everything in eXp is centralized and streamlined.
Who's the broker in eXp Realty?
In eXp Realty, a designated broker manages each state. And there can also be assistant state brokers, in addition to the state broker, dependent upon how many licensed agents there are within one particular state.
What does eXp stand for?
Although there’s no official explanation for the meaning of “eXp” in eXp Realty, Glenn Sanford mentioned that in the search for name choice, he thought the letters “eXp” was a good representation of powerful words.
Words such as “expert”, “exponential” and “experience”. Following this, it was decided that the name eXp Realty was best suited to the company and what it’s all about.
Is eXp Realty like Keller Williams?
Although there are many similarities between eXp Realty and Keller Williams, there are also some quite substantial differences as well.
Both eXp and Keller Williams offer a great culture, support and training for their agents.
However, what really sets eXp Realty apart from Keller Williams is that it is cloud-based, offers stock ownership to its agents, and revenue sharing as opposed to profit share, which is what Keller Williams offers.
Check out our complete comparison of eXp Realty vs Keller Williams.
How many agents does eXp Realty have?
There’s over 79,000 agents worldwide, across 21 countries, at eXp Realty as of April 2022.
Find a complete list of eXp Realty Frequently Asked Questions on our eXp realty FAQ Page.