Understandably, real estate agents want to understand what expenses they will have at a brokerage. Welcome to the best explanation of eXp Realty Costs and Fees on the internet!
Don’t worry, we will keep it short since the eXp Realty costs and fees are simple and few. eXp is very transparent in the fees agents pay because agents win at eXp!
For more eXp Realty details, check out our comprehensive About eXp Realty – Everything You Need to Know article.
eXp Realty Costs and Fees in One Graphic
The graphic below summarizes all the eXp Realty costs and fees. However, we recommend you read on so you can get a full understanding of those expenses!
Fee to Join eXp Realty: $149
The eXp Realty join fee is $149. That includes your monthly fee for the first month and includes all onboarding and support. Yes, it’s really that simple!
For onboarding help with checklists, 1-on-1 support, and an onboarding course, check out our free partnership team!
eXp Realty Monthly Fee: $85
The eXp Realty monthly fee is just $85.
That is a FANTASTIC because you get so much value as well as unlimited live and recorded training and unlimited live support from the entire 2,000+ support staff. There are no additional eXp Realty costs and fees for any of that!
What’s Included in the eXp Realty Costs and Fees
So what’s included for that eXp Realty monthly fee of $85? Here are just a few of the included benefits:
- 80+ hours of Live and Recorded Training each week
- Support from 2,000+ Brokers & Staff available to you regardless of production level
- Workplace (Facebook for eXp) Collaboration with 86,000+ Agents Worldwide
- kvCORE CRM, Lead Generation, and Website Platform
- Skyslope Transaction Management System
- A Local Assigned Mentor for new agents
- Sponsor Support from a team like ours
- Partner Vendors like Build-a-Sign, CE Shop, Success, Virbella & More
- And Much More!
No Franchise, Office or Desk Fees
In case it wasn’t clear in the eXp Realty costs and fees explanation above, there are ZERO desk or office fees and NO franchise fees of any kind at eXp Realty.
There are a LOT of brokerages out there that advertise a commission split but then take 4-10% more in franchise and desk fees. It’s not fair and it’s not necessary.
While eXp agents knew this before COVID, after COVID the rest of the world realized that offices aren’t necessary for successful agents! Why not earn more without a commute and reinvest that into your business, your family, or into having more time!
eXp Realty Transaction Fees
Like many split cap brokerages, eXp Realty has some transaction based fees. But unlike most, the fees cap and agents can earn their entire $16,000 cap back as a top producer! Let’s breakdown all the eXp Realty costs and fees per transaction:
Broker Review Fee: $25 per transaction
Each eXp Realty agent pays a $25 broker review fee per transaction. You want this – it ensures your paperwork is compliant, signed, and filled out correctly and that nothing is missing! It’s a cheap price to pay to ensure legal compliance!
E&O Fee: $40 per transaction, capped at $500
For E&O insurance (errors and omissions, also known as liability insurance), instead of requiring agents to pay a large fee up front as many brokerages do, eXp Realty has a $40 per transaction E&O fee that caps at $500 each year.
This means that instead of having to shell that money our up front, you can pay as you go! This E&O insurance covers you and eXp Realty should there ever be a legal issue with a transaction. Better safe than sorry in this business!
After Cap Transaction Fee: $250 after capping until ICON
After you cap at eXp Realty (you’ve paid $16,000 in commission to eXp out of your 20% eXp split that year), you go to 100% commission! Congrats! Like many split cap brokerages, you then go to $250 per transaction fee. Remember how much support and value you continue to receive, it’s worth it – especially when you earn ICON!
This $250 per transaction caps at $5,000 – which is 20 transactions. At this point you’ll also become an ICON agent and get $16,000 back as an EXPI stock award! See the next section for a little bit about ICON.
ICON Status Transaction Fee: $75 after ICON award
After you cap and then hit ICON production requirements, you achieve ICON top producer status and award! Congrats! Your after cap transaction fee now drops to just $75 per transaction and you get your entire $16,000 cap BACK as an EXPI stock award!
Learn more about the ICON award and production requirements here.
Other eXp Realty Costs and Fees: None!
There AREN’T any other eXp Realty costs and fees! At least, not required ones. There are some things you may decide to spend money on that are totally up to you.
For example, you may decide to try some form of paid lead generation. Or you may decide to go to one of the live events like EXPCON or EXP World Holdings Shareholders Summit (both of which we highly recommend!). Those expenses would be up to you.
Are MLS & REALTOR Fees Covered by eXp Realty?
Like most brokerages, eXp Realty costs and fees do not include or cover local MLS or REALTOR association fees at any level. These expenses are the responsibility of the agents.
eXp Realty Commission Splits and Cap
The eXp Realty commission split for most agents is 80/20 (80% to the agent, 20% to eXp Realty). Some production teams have a different split structure, but individual and referral team agents (most agents) are at 80/20.
The eXp Realty commission cap is $16,000 for most agents. Once an agent has paid $16,000 to eXp Realty our of the 20% split, the split goes to 100%! You’ll earn 100% commission after that, which resets on your anniversary join month (typically the month you join the company).
For more details, check out our detailed eXp Realty Commission Splits and Cap article.
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!