EXP REALTY COMMISSION SPLITS
80/20 Commission Split
All agents at Exp Realty receive an 80/20 commission split, which caps at $16,000 gross commission paid to Exp. Once a cap has been met, that agent will receive 100% of their commission minus a transaction fee, risk management fee and a broker review fee. Agents that have licenses in multiple states pay only 1 cap with Exp. All of the fees above are based on a US agent. Lastly, all agent commission splits are the same with every Exp agent. No agent receives exclusive deals, and all pay the same commission split and fees regardless of tenure, volume, etc. The only exception is if you are a brand new agent and need to pay for your temporary mentor training of 10% extra during your mentorship time only.
Transaction Fee
After an agent caps, he or she will earn 100% and only pay around $250 per transaction. Beyond that, if an agent pays $5000 in transaction fees after capping, they will then have a $75 per transaction fee for the remainder of the anniversary year. All of the fees above are based on a US agent.
Risk Management Fee (Errors & Omissions)
The risk management fee varies by country, but in the US, it is $60 per transaction. Once an agent hits $750 in risk management fees paid for the year, the agent longer has to pay risk management fees for the remainder of the anniversary year.
Broker Review Fee
All US agents pay a $25 per transaction broker review fee on every transaction. For agents in other countries, that amount may be different.
ICON Agent Program
As agents at Exp Realty, you can earn your entire $16,000 cap back each year in the form of stock. There are two ways you can qualify for the ICON Agent Program based on your production at Exp Realty.
1) $16000 Cap Plus $5,000 in Capped Status Transaction Fees
$16,000 paid in company cap plus capped status transactions in the same anniversary year resulting in capped status transaction fees of not less than $5,000.
OR
2) $500,000 Annual Gross Commission Income Plus ICON Qualifying Fee
$500,000 or more with a minimum of 10 closed transactions and payment of an "ICON Qualifying Fee,” which is equal to $5,000 less capped transaction fees paid during the same anniversary year. The "ICON Qualifying Fee" is only required if you want to qualify for ICON agent status. This option is for agents who sell commercial or luxury real estate and may not do many transactions each year.
The last part of becoming an ICON agent is to demonstrate company culture by giving back by teaching a class six times throughout the year, being a mentor for 12 months, serving on a panel and participating ten times throughout the year or serving on a committee and vetting 10 ICON candidates within the year.
Once you have met the above requirements, you would earn $8,000 in publicly traded Exp World Holdings (EXPI) common stock, which vests after three years. You would acquire an additional $4,000 after one year once your cultural requirements are fulfilled. ICON agents earn the last $4,000 in stock awards after attending each of the two annual Exp Realty events. The company issues $2,000 after the Exp Shareholder Summit and another $2000 after EXPCON with no vesting period.