What is the best company for new real estate agents to work in?
If you are a real estate agent who just received your real estate license then you are probably wondering what the best company for new agents is. After all you want to make sure that your real estate career gets off to a great start and by choosing to join the best company for new real estate agents you are on your way to dominating the real estate industry.
More than 80% of real estate agents fail within the first year of getting their real estate license and a big reason why is because they did not join the right real estate company.
So which brokerage exactly is the BEST company for NEW real estate agents to join, who is the best real estate brokerage for new realtors?
In this article we will answer the question which brokerage is best for new agents and give 10 reasons why EVERY new real estate agent need to take a deeper look into this real estate brokerage before they hang their license with a company.
The Best Company for New Real Estate Agents
The best company for new real estate agents is eXp Realty.
eXp Realty is the first ever cloud-based real estate brokerage and the single FASTEST growing brokerage in the United States and North America. It is not only the BEST real estate company today, but also the best for new real estate agents.
eXp Realty was founded in 2009 by former Keller Williams Realty (one of the best real estate companies in the early 2000s) agent Glenn Sanford, and ever since then the company has attracted some of the best real estate agents in the world and has developed NEW real estate agents into top-producing agents and team leaders in record time!
Without the additional overhead expenses of market center costs, and brick and mortar office costs of a traditional brokerage, eXp has been able to use their revenue from saved expenses to reinvest back into their agents in the form of training, development, incentives, and additional income streams.
Right now eXp Realty is the absolute best company for new real estate agents and here are 10 reasons why.
10 Reasons Why eXp Realty is the Best Company for New Real Estate Agents
- High Commission Splits
- Receive a Personal Mentor
- FREE Access to 80+ Hours of Training Every WEEK
- FREE Access to 7 Business Partners and Their Resources (Your Sponsors)
- FREE World Class CRM and Lead Generation Website
- Time AND Location Flexibility
- FREE Access to Over 2000 Employees and Staff Members
- Ability to Earn 3 Streams of Income
- Low Monthly Fee
- Referral Division Option
1) High Commission Splits
A real estate brokerage’s commission split is usually one of if not the very first thing about a real estate company that an agent looks at and rightfully so.
At eXp Realty agents can earn 80-100% commission and have an extremely low $16,000 cap. This means that agents at eXp are on a 80/20 commission split that CAPS at $16,000 every year. When you’ve paid $16,000 into the company in splits for the year, you go on a 100% commission split and only have to pay a $250 transaction fee for every deal you close for the rest of the year.
Compare that to most other traditional brokerage options (including Keller Williams & Coldwell Banker) which usually has a 70/30 or 60/40 split for ALL agents and you can see that you are making more money from day one even as a brand new real estate agent.
Also, eXp does not give more experienced special privilege over new agents, all agents are on the same split, commission structure, and have the same commission cap, giving eXp an inclusive company culture.
Learn more about the eXp Realty commission split and cap.
2) Receive a Personal Mentor
Another reason why eXp Realty is the best company for new real estate agents is that eXp actually assigns new agents who have never completed a transaction a local certified mentor in their immediate geographic area to help guide you through your first 3 transactions at the company.
New real estate agents need as much help and guidance as they can get and eXp’s mentor program is one of the MANY ways new agents can learn the business hands on. eXp’s mentorship program is currently one of the only new agent mentorship programs out there that actually assigns a new agent a PERSONAL mentor instead of just assigning them to a team or group training program.
It is important to note that for YOUR FIRST 3 TRANSACTIONS ONLY that you are working directly with your mentor, your commission split as a new agent will be 60/40 and not 80/20. You will immediately go back to a 80/20 split after you have closed your first 3 transactions at the company and many agents who do really well in their first year at eXp actually “Graduate” the program early.
3) FREE Access to 80+ Hours of Training Every WEEK
The 3rd reason why eXp is the best company for new real estate agents because it offers one of if not THE best training programs for new real estate agents in the entire real estate industry.
Your first year as a real estate agent is the hardest. Most new real estate agents look for the best training when it comes to picking the best company to join.
At eXp Realty new real estate agents get access to eXp University, a training platform with over 80 hours of live and recorded training done and conducted by the absolute best agent to teach the subject. All of eXp’s trainers are top real estate agents in their own market who have closed over $10 Million in sales volume in the previous year and you are learning the EXACT strategies they are using to become top producers in their market.
Just based on this training system alone eXp is the best company for new real estate agents.
Inside of eXp University you will learn the best strategy to close more real estate transactions, generate leads, get listings, become a top agent, how to give better customer service, how to improve your marketing efforts, how to work in commercial real estate, social media, and much more!
4) FREE Access to 7 Business Partners and Their Resources (Your Sponsors)
eXp Realty is the absolute best company for new real estate agents because it is an extremely unique business model that is a lot different than traditional brokerages.
eXp Realty is built off of a revenue share system that REWARDS and INCENTIVIZES agents to attract other agents to the company and grow the brokerage. This revenue share model has eliminated the need for “traditional” real estate teams where new team members are usually paying an additional 25-50% in commission splits to a team leader but still allow new agents to BENEFIT from the additional resources from a team model.
Traditional real estate agents usually start a real estate team where they take an additional split off their agents’ closings as a way to increase their business and provide new realtors with training they need to succeed. At eXp Realty, experienced and even new agents have the ability to start and grow a team through revenue share without having to charge their agents additional splits because the company pays them to do so!
One of the benefits for a new real estate agent joining eXp is that they will receive FREE access to ALL of their sponsors’ ADDITIONAL resources that they provide to their agents ABOVE AND BEYOND just the eXp value proposition.
When you join eXp you will name a sponsor at the company to join with, this can be any active eXp agent. Once you sign up with them, they become your business partner at the company because eXp will actually compensate them with eXp’s REVENUE when you close a transaction.
Also note that you will not only get access to just your sponsor, but also 6 other “sponsors” in your revenue share upline and with that access to all of their resources, additional training, coaching, and masterminds as well!
Learn more about how to choose an eXp Sponsor!
5) FREE World Class CRM and Lead Generation Website
The 5th reason why eXp Realty is the best company for new real estate agents is that you will get access to cutting-edge technology and tools to run your business.
eXp Realty gives ALL of their agents FREE access to their very own real estate agent website, CRM, automated follow-up system, and lead generation tool through a company called KVCore. KVCore is a top real estate agent tech company that gives agents the tools to generate leads on their own and follow up with those leads automatically inside their CRM function.
On the open “market” KVCore costs around $500 every month for an individual agent to use. As a new real estate agent you might not have that amount of money to invest in your business yet, by joining eXp Realty you won’t have to but you can still enjoy the benefits because you will have access to KVCore for FREE!
With KVCore, agents can generate their own leads, follow up with potential clients, and boost their business to get the best results right off the bat.
Access to technology and lead generation tools like KVCore is precisely why eXp is the best company for new real estate agents.
6) Time AND Location Flexibility
eXp Realty is a “virtual brokerage”. It’s innovative technology that allows real estate agents to interact with over 2000 paid employees, managing brokers, other agents gives real estate agents the flexibility to work anywhere they want anytime they want.
This flexibility in both time and location freedom is what makes eXp the best company for new real estate agents. New real estate agents are most likely starting out on a “part-time” basis and will want the flexibility in their schedules to be able to get support from their brokers anytime they need. eXp’s virtual brokerage system allows new agents to do just that.
eXp agents operate in a cloud-based campus called eXp World where agents are represented by an avatar and can move around to different departments to speak with staff members, support teams, brokers, and get access to live training.
Working at eXp means being able to work anywhere you want anytime you want instead of having to go down to a single office, making it the absolute best company for new real estate agents who got into real estate for a flexible work schedule.
7) FREE Access to Over 2000 Employees and Staff Members
We had just mentioned that eXp agents get access to eXp World, a cloud campus that allows agents to access the brokerage’s support staff, brokers, and trainings anytime and anywhere they choose.
Inside of the cloud brokerage system agents are getting access to over 2000 paid employees, staff members, and support teams all for FREE by simply being with eXp Realty. These employees are available to support you with your needs in multiple different departments such as:
- Tech Support
- Brokerage Operations
- Payment Processing
- State Broker Access
- and More!
eXp is the best company for new real estate agents not only because of the brokerage model that it offers agents but also because of the absolute abundance of support that agents can access anytime they want when they want all for no additional cost or split!
Usually at a traditional brokerage, agents pay a desk fee for access to a few dozen support members, at eXp realty, agents are able to access over 2000 employees all day every day!
8) Ability to Earn 3 Streams of Income
One of the absolute best reasons why many agents consider eXp to be the best company for new real estate agents is the ability for a real estate agent to earn 3 streams of income at the company.
Most realtors get their real estate license to build wealth and NOT just an income, at eXp you can do that from DAY 1 at the company with our 3 income stream brokerage model available to all agents!
Aside from the competitive sales model of eXp Realty, agents can earn an income at the company in 2 additional ways that they could not at other brokerages.
Stock Awards: Become an OWNER of eXp When You Close Your FIRST Transaction!
Did you know that real estate agents can actually become an OWNER of eXp Realty by simply completing their first transaction of the year at the company?
eXp Realty offers all of their agents a stock award program for doing nothing more than selling houses and recruiting agents. One of these stock awards is the “first transaction stock award” which rewards eXp agents a $200 stock award for simply selling their first house of the year every year that they are at the company!
This means that you can become an actual owner of eXp the first month at the company as a brand new agent! This is precisely why so many realtors think eXp is the best company for new real estate agents!
eXp is able to do this because it is a publicly traded company on the NASDAQ stock exchange under the symbol EXPI. eXp gives agents equity in the company through sharing stock awards with agents who complete certain milestones.
Learn more about eXp Realty’s Stock Awards!
Revenue Share: Ability to Build a RESIDUAL Income Stream On DAY 1 At eXp!
The third stream of income at eXp is revenue share.
Revenue share is residual income team building model that is available for ALL agents to leverage who are active agents at the company REGARDLESS of experience. Yes. This means you can start attracting agents to join your team at eXp the DAY that you onboard with the company and start building an residual income stream!
Revenue share is based off of Keller Williams’ profit share model. Except at eXp, agents receive REVENUE share before expenses instead of PROFIT after expenses.
In order to earn revenue share you must attract producing agents to the company with you as their “sponsor”. When you attract an agent to the company you will earn 3.5% of the gross real estate commission income that they generate every time that they close a transaction up until they cap for the year.
Here is how the math breaks down in an example.
If you sponsor an agent and they close a transaction that generates a $10,000 gross commission income, you will receive a $350 revenue share on that closing. Here is how the numbers work:
- The agent receives 80% or $8,000
- eXp receives 20% or $2,000
- You “the sponsor” receives 3.5% of the total $10,000 or $350
You will continue to receive revenue share as long as the agents you sponsor continue closing transaction all the way up until they cap for the year in which case you would have earned a total of $2,800 from EACH agent that you sponsored to eXp who has capped. You can also sponsor agents in all 50 states and even different countries!
Learn more about eXp Realty’s Revenue Share Model!
9) Low Monthly Fee
eXp Realty is the best company for new real estate agents because it offers all agents a low monthly fee instead of a high monthly desk fee. Since eXp does not own any physical offices and do not have the overhead of a brick and mortar office, it can charge agents less per month to be at the company and no desk fees like any other real estate firm.
This way new real estate agents can save extra money that they can then reinvest back into their business in marketing, paid ads, or hiring an assistant.
eXp charges agents a $149 ONE TIME join fee that also covers their FIRST MONTHS monthly fee. After that all you need to pay going forward is a $85/month monthly fee.
Aside from that there are a few small transaction fees that agents pay ONLY AFTER they close a transaction. This includes a $25 per transaction broker review fee and a $40 per transaction risk management fee that CAPS at $500 every year as well.
There are no royalty fees, no additional 6 percent franchise fee, or any other miscellaneous fees charged for agents.
10) Referral Division Option
Last but not least, the reason why eXp is the best company for new real estate agents is that agents can join the company as a “referral agent” first in eXp’s Referral Division before they join as a full blown agent.
The reason why this is beneficial for new agents is because as a real estate agent at eXp you HAVE to join a local Realtor Board and MLS to be able to list houses and represent buyers properly. This is very standard at ANY real estate brokerage.
Although the exact cost varies from state to state, the typical annual Realtor Board and MLS fee usually adds up to around $500-$1,000 per year. For a new real estate agent who has not earned any income from real estate yet, this can be a big investment especially considering all the costs that they just paid to join a brokerage and get their real estate license.
By joining the referral division at eXp, agents are not required to join a Realtor Board with the national association of realtors or MLS saving them that expenses, and agents can learn how to generate real estate leads by generating clients and simply REFERRING them out to other agents in the area and earning a 25-50% referral fee from the closing.
Agents with eXp Referral Division can ONLY do referrals and may not represent clients, but it is a good way to save some expenses in the beginning as a new agent, learn how to generate business, and earn an income through your referrals while doing so!
eXp Referral Division only charges a $50 monthly fee and agents with referral division can sponsor agents under the revenue share model but can not earn any stock.
This option at eXp for new agents makes it truly the best company for new real estate agents today!
Join the #1 Best Company for New Real Estate Agents Today!
Now that you know what the best company for new real estate agents is today, it’s time to make a move and LAUNCH your real estate career and become one of the top agents in your local area! eXp is no doubt the best company for new real estate agents but it’s also important to make sure it is the best fit and best choice for you and your goals as well.
We encourage you to do your research and book a call by clicking the button below to learn more about eXp Realty to see if it is the right company for you and make the decision for yourself whether you think eXp is the best company for new real estate agents!
Learn More About eXp Realty & Our Free Partnership Team!
If you are interested in joining the best brokerage for agent growth, compensation, and opportunity in the world, be sure to partner with the best sponsorship team in the world as well! We provide additional training, tools, coaching, partners, collaboration, masterminds, and resources for your success!
We believe in massive growth and financial freedom for all real estate agents! Live your dream real estate lifestyle with us.
For more eXp Realty details, check out our comprehensive About eXp Realty – Everything You Need to Know article.