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#462220 - 08/28/18 11:35 AM EXP Realty
loves2control4 Offline
Junior Member

Registered: 08/28/18
Posts: 2
Loc: Texas
What do you guys think about EXP? Is it a good company to get started with?

Are you optimistic that they can continue to grow so fast?

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#462271 - 08/30/18 06:51 PM Re: EXP Realty [Re: loves2control4]
estatereal Offline
Major Contributor

Registered: 01/27/07
Posts: 3219
Loc: LAND OF THE FREE!
what does their growth have to do with an agents business?

dont tell me profit sharing etc...how many agents can make a living off profit sharing? at the end of the day, profit sharing is an agent paying you from what they brought in. i dont want to pay another agent anything because i brought something in...just give me the higher split and i keep what i make and you keep what you make.

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#462306 - 09/03/18 01:21 PM Re: EXP Realty [Re: loves2control4]
koz Offline
Junior Member

Registered: 02/19/17
Posts: 9
Loc: pa
I love exp. switched 3 months ago. Right out of the gate, newly licensed.. you better have a good mentor because its built for more independent agents (or join a team). But if you are established its awesome. For me the easy collaboration, easy to attend training (and not charged for it..), and the tech is superior to what I had at CB by a mile and even KW.

As far as the profit share, its not even worth thinking about. Why is it a bad thing the 20% you pay the broker (up to a cap) is being distributed to agents...instead of paying 40-60% at the big box brokers , and it goes to corporate types who sit around figuring out new fees to slap on agents?

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#462351 - 09/07/18 02:23 PM Re: EXP Realty [Re: koz]
estatereal Offline
Major Contributor

Registered: 01/27/07
Posts: 3219
Loc: LAND OF THE FREE!
Originally Posted By: koz
I love exp. switched 3 months ago. Right out of the gate, newly licensed.. you better have a good mentor because its built for more independent agents (or join a team). But if you are established its awesome. For me the easy collaboration, easy to attend training (and not charged for it..), and the tech is superior to what I had at CB by a mile and even KW.

As far as the profit share, its not even worth thinking about. Why is it a bad thing the 20% you pay the broker (up to a cap) is being distributed to agents...instead of paying 40-60% at the big box brokers , and it goes to corporate types who sit around figuring out new fees to slap on agents?


what is the cap? 20% of what?

What specific tech do they offer? What does it do? Contact management system?

What (names) brokers now a days collect 60% of the commission leaving 40% to the agent?

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#462371 - 09/11/18 08:41 AM Re: EXP Realty [Re: estatereal]
koz Offline
Junior Member

Registered: 02/19/17
Posts: 9
Loc: pa
Originally Posted By: estatereal

what is the cap? 20% of what?

What specific tech do they offer? What does it do? Contact management system?

What (names) brokers now a days collect 60% of the commission leaving 40% to the agent?


1. You get 80% of your commission, up to a 16k cap. So the 20% I am talking about is the company's share. Not to be ignored is, no forced broker fee.
(its 4-500 per transaction for other brokers here, charge it or you pay it. eXp..you can charge it too if you want but you keep it)


2. This would be a long novel of an answer PM me if you are interested in learning more. But yes CRM plus others that for me is a godsend as far as learning, networking, lead gen/management, out-of-area referrals.


3. In my area the biggest brokers are:

1. Howard Hanna - 50% split to agent for all agents. Plus some pretty high fees per transaction dropping the real % much lower.

2. Coldwell Banker- actually start newer agents even lower than that(46%) but can go as high as 64%. Also have large fees per transaction, I was personally 64% for the last 10 deals I closed but my take home after fees was just over 53%.

3. Berkshire/Northwood are up there but not as big, and pretty similar. In the process of a merge now so not sure which model they are taking but, neither is great.

4. Remax is next biggest with either a 70% (62ish after fees) or a 85% with ~$1500/month desk. Obviously that is geared for busier agents and since these are offices not linked, they can vary by office. I didn't interview them all so your local Remax could be better or worse.

5. KW never really caught on big time here but also 64% after fees averages around 57-58% with a $24000 cap + higher fees if you do cap.

The problem with a lot of my friend-agents is they blow off thinking about the high fees. Example, 100k house (in the county I am in MANY areas 100k is one of the nicer houses..yes i need to move)
6k commission.
3k per side.
HH for example: $1500 after the split, ~$1000 after fees.
33%

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#462382 - 09/12/18 01:01 PM Re: EXP Realty [Re: loves2control4]
estatereal Offline
Major Contributor

Registered: 01/27/07
Posts: 3219
Loc: LAND OF THE FREE!
why not just join a 100% shop and pay less thousands and thousands less than the 20% cap?

getting 100% for a few grand is not hard in 2018. and then pay for the tech that they offer you for "free". At the end of the day, you'd easily be less than what the broker would charge you and you could put that money to marketing to make more money.

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#462414 - 09/13/18 07:26 PM Re: EXP Realty [Re: loves2control4]
CathCoy Offline
Member

Registered: 04/04/14
Posts: 33
Loc: Huntington Beach, CA
I agree, estatereal. A flat fee shop is the only way to fly, in my opinion. We're all self-starters, anyway, and don't need our hands held for a percentage of the commission, right?

If you're in CA, take a look at my company:

http://www.shorecapital.net

Broker also has a DBA for loan origination. When I work with a buyer, I originate their loan as well. You must be NMLS licensed to originate loans.



Edited by CathCoy (09/13/18 07:27 PM)

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#462477 - 09/20/18 09:12 AM Re: EXP Realty [Re: estatereal]
koz Offline
Junior Member

Registered: 02/19/17
Posts: 9
Loc: pa
Originally Posted By: estatereal
why not just join a 100% shop and pay less thousands and thousands less than the 20% cap?

getting 100% for a few grand is not hard in 2018. and then pay for the tech that they offer you for "free". At the end of the day, you'd easily be less than what the broker would charge you and you could put that money to marketing to make more money.


I guess this is location dependent there really is no better option for that sort of business model where I live. Any 100% option around me really isn't one, and you get much less.

I mean 'Realty One' advertises itself as one of those 100%ers, but except for a small window of circumstances, I would make less with them than eXp in most of the areas around where I live.
Your Town is another option but with fees its not all that different, and you get absolutely nothing but e&o coverage.

I don't really have any good boutique brokerages around here either, the few that are known still do 70-30 type splits just to stay ahead of the big boxes.

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