eXp Realty Doesn’t Have Many Negative Reviews
The eXp Realty company does not have many negative reviews online. Instead, 86% of the reviews are positive. Negative feedback is only found in 4% of employee reviews. Positive reviews are generally written by the sales team, which has 97% positive feedback and 31% constructive feedback. The operations team also found negative feedback, which has 3% of its reviews being negative.
Exp Realty is a cloud-based brokerage.
Unlike brick-and-mortar brokerages, eXp Realty offers real-world perks to its agents. They are eligible to earn company stock and participate in a revenue-sharing program. A typical eXp agent earns 80 percent of their gross commission income. This translates into a maximum commission payment of $16,000 a year. The company prides itself on the resources it offers its agents, including a mentor program.
The company’s online marketing center and eXp Enterprise program help agents generate leads. Unlike traditional brokerages, which typically provide few leads a month, eXp Realty agents can generate their leads. The lead generation program costs $250 per month and generates 10 to 25 leads per month.
It has a mentor program
eXp Realty offers a mentor program designed to help new agents in their first year of the industry. The program provides a mentor who can help new agents meet their goals and comply with real estate laws. The program pairs applicants with a volunteer from the local Multiple Listing Service (MLS).
eXp Realty requires that new agents go through the mentor program. During the program, a certified mentor will mentor the new agent, answer questions and walk them through the first three transactions. The mentor will also help them with contracts and shadow them on appointments.
It has a transaction review fee.
When you join eXp Realty, you’ll pay a low transaction review fee and earn 100% commission. You’ll also pay a low $85 monthly lead generation tool fee and a $25 broker review fee. Exp charges no desk or royalty fees, but it charges an E&O insurance fee of $40 per transaction after a certain amount.
Unlike many other brokerage firms, eXp Realty does not charge an upfront E&O fee. Most brokers charge up to $500 per year in advance for this coverage. Instead, eXp charges a transaction review fee of $25, and its fees are based on the transaction. This fee ensures that all parties involved are protected from misrepresentations.
It has a $250 transaction fee per closing up to $5,000
The fee structure for eXp Realty is pretty simple: it charges a $250 transaction fee per closing up to a cap of $5,000. After that, the fee is reduced to $75. There is also a risk management fee of $40 per closing, capped at $500. On top of that, eXp Realty also charges a monthly cloud brokerage fee of $85 for access to their tools. For this price, you can expect to get access to a variety of tools and services.
eXp Realty offers a variety of training opportunities for its agents, including 60 hours of weekly live training classes, guest speakers, mastermind sessions, and a library of on-demand training videos. It also offers a simple commission structure, an 80/20 split with a cap of $16,000, which means brokers keep 100% of their commission once they hit the cap.
It charges an $85 monthly fee
eXp Realty offers training and marketing tools to its agents for an affordable monthly fee. This fee covers access to a website, kvCOREe CRM management system, lead generation tools, and 60 hours of weekly live training. kvCOREe is a premium CRM platform that helps agents build their networks and generate leads. It also provides agents with detailed analytics reports to track and improve client relationships.
The cost of joining eXp is $149. This fee covers business cards and other marketing materials. Afterward, a membership fee of $85 a month is required.