One of the unique things about our eXp Revenue Share Group (RSG) is that we have our own Collaboration Group and corresponding Facebook Group. As members of the same RSG we all have a vested interest in each other’s success and it is our firm belief that together we can improve our businesses and increase our success within the modern eXp model. By joining eXp as part of our RSG you can benefit from the wide-array of experience, knowledge, and insights that our group has to offer.
Of course, joining our RSG under eXp Realty not only gives you those benefits but all the value add of eXp. As you may already be aware eXp is a modern, cloud-based real estate firm that shuns the traditional brokerage and franchise model for a more flexible and tech focused approach (along with being more profitable). You can practice real estate anywhere and have an office anywhere you want (or no office at all). eXp also has changed the game with regard to agent compensation. In addition to the traditional commission you have the ability to earn stock awards and purchase stock at a discount (publicly traded on the Nasdaq and thus the model has been heavily vetted for compliance). Given that eXp is in growth mode this has significant earning potential. Finally, you are rewarded for attracting other agents to the company. Because agents do not have to pay for franchise owners and regional owners on up the chain like a traditional brokerage a portion of the revenue earned can be passed on to the agents in your attraction upline. It is a redistribution of wealth from owners and brokers to YOU. Also, since eXp has just started to grow in many markets across the country the potential is also large when joining our Revenue Share Group and building one of your own. This can give you a potential exit strategy and, along with our collaboration group, a win for your business.
Training and Support
A common concern among agents used to an office is support. At eXp you have more support than you could ever get from a local office, not just phone and email support (which eXp has too). There are numerous facebook workplace groups and there are several facebook groups in our upline (including our own). Also, there are two conferences a year each with tons of training and opportunity to interact with eXp staff and agents for all your questions. Here are the links to the videos for the latest conferences:
Finally, there is eXp World which is an entire campus just for you. eXp has regular training every week in eXp World including regular discussions with ICON agents in the company. You can watch some of them here:
FInally, here are just a few screenshots of the various departments available to you for information and support from anywhere in the world.
Our collaboration group adds additional training resources on top of what eXp itself offers. We have contracted with David Knox Productions for access to his regularly updated training programs. His programs include information for new and seasoned agent alike from how to overcome objections, win listing appointments, using social media, all the way to recent real estate trends. Hear from not only David Knox himself but other expert agents from across the country.
Our collaboration group takes eXp World one step further by adding a team suite for everyone’s use. With 18 offices, a huge boardroom, large conference room, 6 lounges and numerous co-working/private communication spaces there are plenty of places to have meetings with your team, downline, other agent prospects and even clients. Any web screen can be used to browse the web, give a presentation, or share your screen. Our team suite is the ultimate in virtual office collaboration!
Tools and Technology
Being cloud-based eXp has plenty of online tools for you to use. The core is eXp enterprise, the one stop shop for business intelligence, transactions, revenue share, stock and marketing materials. They also have a core set of tools such as KVCore for CRM and lead generation (and CINC as well), Skyslope for transaction management, and Facebook workplace for news, training, and collaboration (not to mention eXp World itself, the best virtual workplace on the planet). The eXp partners program continues to add more technology and tools to the enterprise giving eXp more choices than anyone. eXp also is forming partnerships with other companies to provide tools that provide additional value in the areas of training, project management, time management, recruiting and more.
Revenue Sharing is Not New to the Real Estate Industry
Owners, brokers, and franchisees have been sharing in the revenue of their real estate companies for over 100 years. This is entrepreneurship. Owners put up all the money and take the risks to start and build a company. They deserve it, don’t you think?
There is a distinct difference between Keller William’s profit sharing program and eXp Realty’s revenue sharing program. Profit comes to agents after everything else has been paid. (Including the franchise owner’s, and regional owner’s, and corporate owner’s revenue). It comes monthly, when the local market center makes a profit, and it doesn’t come when the local market doesn’t make a profit. It also doesn’t come if the agent has not done a transaction that particular month. Suffice it to say, profit sharing comes off the bottom.
Revenue sharing comes off the top. Without getting too much into the weeds, each individual agent has a $16,000 cap with eXp (team members have 8k caps or 4k for mega-teams). Roughly half of that revenue coming into the company is used to actually run the company, and roughly half is given back to the agents in the form of revenue share and stock awards.
Is Revenue Sharing Sustainable?
We’ve been hearing some neigh-sayers lately – revenue sharing is not sustainable. Here’s the dirty secret…it’s been sustainable in the real estate industry for more than 100 years. The first brokerage business was opened circa 1908. Entrepreneurs have been owning brokerages since that time. Why would they do that if there was no revenue? Of course there is revenue for owners of companies.
There are billions of dollars funneling to the top of the traditional real estate company business model. Warren Buffet didn’t go buy a thousand houses during the recent real estate crash. Instead, he bought a bunch of real estate companies. He’s no fool. Ownership is where the money is.
The difference in the eXp Realty revenue sharing model is that the agents are the owners of the company, and as owners, they are sharing in the revenue. As long as eXp Realty is a real estate company and agents are helping buyers and sellers with their real estate transactions, there will be revenue.
eXp Realty is a real estate company, first and foremost. Without real estate agents conducting business, there would be no revenue to share. When any company has ebb and flow of revenue and expenses, they make adjustments.
eXp has done exactly that. From the beginning of the revenue-sharing (2013) in the company, the plan was to adjust the compensation plan when we reached a certain growth marker…16,000 agents. That happened in December 2018, along with the Sustainable Equity Plan and Equity Offset Program. The plan was to maximize growth for a period of time, and then to move towards sustainability.
eXp Stock and other Revenue Streams
eXp World Holdings, Inc. (NASDAQ: EXPI) is the holding company for a number of companies most notably eXp Realty. eXp World Holdings has several other verticals already, and more in the making. The main emphasis in the company’s choice in partners is CHOICE for the consumer. Through stock awards (not options) and the stock equity program (5% of your commission to purchase EXPI at a 10% discount) you can build quite a portfolio of stock. Further, if you qualify for ICON Agent you can get your entire eXp cap back in stock!
eXp World Holdings technology includes:
VirBELA – VirBELA offers a modern, cloud-based environment focused on education and team development with clients in various industries from government to retail. VirBELA developed eXp Realty’s current cloud campus, eXp World, which provides 24/7 access to collaborative tools, training and socialization for the company’s agents and staff.
ShowMeNow – Our technology holdings also include the ShowMeNow app, home tour app that enables home shoppers to request immediate access to properties they are interested in.
eXp Realty Affiliated Partners – eXp World Holdings is adding affiliated partners like Introlend First Cloud, a lending platform in which eXp agents can opt to become shareholders and earn dividends. Other partners include America’s Preferred Home Warranty, a platform that allows consumers to select their own service provider, 360 tours, Build A Sign, CE Shop, Currencies Direct and others.
The future holds a lot of promise for more partners in the future. All of these partnerships and services will add to the company’s revenue in some form or another. It’s a bright future for eXp World Holdings!
If you are interested to learn more about eXp stock check out our Investor Relations Page.
eXp has its own Institutional Buyer (IBuyer) platform just for eXp agents. Agents can solicit offers on behalf of their clients from a set of buyers in their area whose buy box criteria meets that of the subject property. This platform has the advantage of giving your client cash offers on a closing date of their choosing in addition to selling traditionally. For the eXp agent you can also get the listing after the buyer flips the property (unless a buy and hold buyer). Since the buyers pay a platform fee you also win as an eXp shareholder. Finally, since most buyers are local it benefits the local economy for the entire transaction.
Yes eXp has Healthcare! Through Clearwater Benefits, eXp Realty provides Catastrophic, Preventative, and Day-to-Day coverage across different plans with PPO and HSA/Cost sharing options. In addition to the health insurance and medical cost sharing Clearwater Benefits also provides Telemedicine services and supplemental insurance such as Life, Accident/Critical Illness, Vision, and Dental. Check out the eXp Agent Healthcare site for more info.
If you are interested in learning more or signing up you can check out my eXp Sign Up and Info Page and feel free to check out the videos below.
Thanks and I hope to see you as part of our Revenue Share Group!