Question 1

Why is EXP a publicly traded company?

Accepted Answer

EXPI is the stock symbol for the company as traded on the Nasdaq. The founders of EXP chose to make EXP publicly traded to give full transparency into the company’s performance. As well, for the ability to grant performance bonuses to the Realtors by way of a tangible asset: stocks in the company.

Question 2

What is revenue share?

Accepted Answer

In the most basic terms, revenue share is an ongoing referral fee paid to an agent at EXP who refers an agent to work with EXP. The revenue share is allocated from EXP’s general revenue, the agents themselves do not have their commissions impacted. The referral fees are paid on an annual basis and not a one time referral fee. As well, the referral fees apply to multiple degrees of separation from the original referrer, up to 7 degrees of separation.

There is a misconception that to be a part of EXP, agents must also recruit other agents to EXP. In reality, less than 10% of agents actively participate in revenue share - meaning over 90% of agents only focus on active sales production.

For agents who might be interested in learning more about revenue share, the definitive learning resource can be found at: https://exptoolkit.com/revenueshare.

Question 3

What is the ICON program?

Accepted Answer

The ICON program is meant to provide a tangible reward for the top producers of the company. The ICON award gives the agent a $16,000 award paid as stocks in the company; $8,000 is immediately liquid and the $8,000 balance vests over a 3 year period. To be eligible, an agent must hit their agent cap ($80,000 in GCI) and then complete another 20 transactions after hitting their cap. In essence, it is an award granted to agents who produce approximately 30 ends in one 12 month period. For more information about the ICON program please visit: https://exptoolkit.com/icon-agent-award.

Question 4

What is the “Champs Group” within EXP and what as an EXP “downline”?

Accepted Answer

EXP primarily grows as agents are referred to the company. Some agents focus very heavily on attracting agents to EXP and part of their strategy to attract agents is to provide a value proposition that may include community, coaching, education, resources, access to prestigious group members, and other benefits. As these agents attract, the branches of the degrees of separation of their referred agents grow into a large group of agents sometimes referred to as a “downline”. A good group or downline will include many agents collaborating to help each other to be happier and more productive Realtors.

The Champs group is one such group, founded in Canada with ties all the way to New Zealand. To learn more about the Champs group please feel free to explore the rest of this website.

Question 5

How do brokerage fees work at EXP?

Accepted Answer

EXP brokerage fees work on a “cap” basis. This means that agents pay a percentage of their gross commission to EXP until they hit a “cap”. Once the cap is paid, the agent keeps 100% of their commission from that point onwards. At EXP the percentage is 20% up to a cap limit of $80,000 in commissions annually. That’s a total of $16,000 paid to the brokerage and then the agent keeps the balance of their commission for the remainder of the 12 month period. Note, agents on a standard team have a half-cap of $8,000 and agents on a mega team receive a quarter-cap of $4,000. EXP also has a large group subscription to a number of software programs including Canva, 4 different CRMs, SkySlope transaction management, digital signature, and many more. The savings are passed onto the agents who pay a $140 per month technology fee to access all of the subscriptions at a discount.

Question 6

Does EXP have physical offices?

Accepted Answer

EXP does not have physical offices. Brokerages that follow a franchise model usually have physical offices because as a condition of being granted a franchise, the franchisee is required to upkeep a physical office.

EXP is centrally organized vs. a franchise model meaning that every agent in the company receives equal and full support. The franchise model means that agents receive variable support depending on the particular franchise of the parent brokerage they are brokered at.

EXP is often referred to as a “cloud based brokerage” which is just another way of saying that all of the staff work from home. There is a team of brokers, administrators, and transaction coordinators all working on shift in rotation to ensure the agents have real time support at all times of the day and week. This is often seen as more robust to a franchise model, which can only provide support at the availability of the staff at that one specific franchise location.

That being said, often many teams, groups, and downlines like to keep a physical office space as a place to work and connect. Therefore, within EXP, there is still is robust availability of office space for agents who chose to align themselves with a team, group, or downline.

Question 7

Why is a “Sponsor” important?

Accepted Answer

The company grows by referral only and the person who refers a Realtor to join exp is called that Realtor’s “sponsor”. Within EXP there is an expectation that an agent’s sponsor be responsible for helping that agent navigate EXP and the real estate industry to be as successful as possible. In practice this can mean different things for different sponsors. When joining EXP it is important to chose a sponsor who will commit to helping you. Agents will often chose a sponsor who is part of a group/downline they want to be a part of for the benefits of being a part of that group/downline. If you are considering joining EXP with the Champs group, please make sure to be in communication with the agent who has referred you to the group for more information.

Question 8

What tools and support does EXP provide?

Accepted Answer

The centralized brokerage model means that there is a large team of brokers, administrators, and transaction coordinators supporting the agents and can always be on call vs. a small local staff tied to one franchise location.

The brokerage is in a cash-heavy position, which means that the brokerage can pay out commissions same day as closing to the agents and then collect the commission from the lawyers afterwards.

The brokerage is so large that it receives a massive group discount on many different software subscriptions including Canva, 4 different CRMs, SkySlope transaction management, digital signature, and many more. The savings are passed directly to the agents with no markup. The brokerage has a robust education portal which ranges from startup programs for new agents to exclusive mastermind programs for top producing agents and large team leaders.

There are regional specific portals for the agents that include step-by-step transaction guides and other market specific resources.

EXP’s culture is one of collaboration, that is built into the architecture of the company through the revenue share program. Each sponsor takes responsibility for their referred agents and 7 degrees of separation onwards. This incentivizes the agents to support each other, and the results within the company culture are noticeable.

For more links and resources please explore the rest of this website section.

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