I’m considering eXp but if it’s not actually an 80/20 split and you have to give up an additional 25% to a “team leader” then I may prefer to go with a 70/30 split being offered a more traditional brokerage with comparable fees. Copyright 2021 Kyle Handy, all rights reserved. Success with eXp results only from successful sales efforts, which require hard work, diligence, and leadership. I can refer all my Utah clients to myself through Kw Michigan for $550 a transaction. eXp Realty Indiana: Big Moves in the Hoosier State, eXp Realty Florida: Changing the Face of Real Estate. Revenue share helps to recoup the lower split from the team leaders’ perspective. From a single office in 1983, the company has grown enormously to have 700 offices in many countries around the world. If those elements aren't as exciting and you prefer a stable brokerage with an excellent reputation, Keller Williams may be for you. It can range from around $40-75 depending on market center. eXp Realty and Keller Williams have some differences, but also have a lot more similarities than you might think. Thousands of agents, along with staff and leadership, come together to attend these events. eXp agents know that the better the company does as a whole, the better the share price will be, and their financial interests increase. Your email address will not be published. eXp Realty is most highly rated for Culture and Keller Williams Realty … I would love to meet you there. Your success will depend on how effectively you exercise these qualities. In June, Kauffman and Weaver left Keller Williams after 11 years and moved their licenses and team of 50 agents in Arizona, Colorado, California and Tennessee to eXp … I’d say you’re certainly an above average agent with that production level. At eXp Realty, there are 3 spelled out team models and a separate team for married couples called the "Domestic Team." These two companies, although different in many ways, have a similar philosophy in that they put the real estate agent's needs first. When you compare the compensation plans of eXp Realty vs Keller Williams, you'll notice they have a similar structure. At eXp we are responsible for inputting our own listings into the MLS. In 2010 Keller Williams had over 77,000 agents and became the 2nd largest brokerage. He was aware of the shortcomings of real estate brokerages overall so he founded eXp Realty… > For a detailed explanation of revenue share, check out the article I did here. In 2015, the company was growing steadily but was still under 1,000 agents nationwide. It almost seems as if agents get their training elsewhere and then transition to the brokerage that offers more benefits to top producers. Keller Williams has long been hailed the real estate industries leading training brokerage. Email me at kyle@thehandyteam.com if you wish to discuss further. I am quite certain I can cap in both states. One unique element that shapes the culture of eXp Realty is the commitment to "One for all, and all for one." All of the team's production goes towards paying the team cap at 70/30. With Keller Williams, this percentage is based on the profit, AFTER overhead expenses, from the market center that the agent belongs. eXp Realty … YEAR ONE AT EXP REALTY. Then 80/20 to eXp Realty. If you are only doing a few deals a year, how does paying 64/36 vs. 80/20 affect your business? Find real estate agency Keller Williams Experience Realty in Murray, KY on realtor.com®, your source for top rated real estate professionals. With eXp Realty, the percentage is based on revenue, BEFORE expenses. I’d love to hear your thoughts on this. Keller Williams. I understand it depends on how an individual learns best, however, it would be interesting to know many of EXP’s newcomers are experienced agents and new agents. Great article, at KW now and thinking of moving to Exp. Who started eXp? Keller Williams is privately held and does not provide stock ownership to its agents. In conclusion, both eXp Realty and Keller Williams are fantastic real estate brokerages. eXp Realty vs. Keller Williams. 2-4. I’ve been getting a lot of recruitment calls lately from eXp agents/recruiters and started doing my research and I’m hearing a lot of really good perks about eXp. Mr. Big shot, haha. – Kyle Handy. Now I want to do business in Utah also. It’s in the events section on the menu of my website. Today Keller Williams has just over 160,000 agents and accounts for around 10% of all homes sold in North America. Additionally, eXp Realty offers agents stock for their production and attraction efforts. Do you have to join a team? Alternatively, agents can rent private offices from Regus for around $30-50 per hour to meet clients or work from privately. However, this can range from $9,000 to $42,000 depending on location and market center. Keller Williams Realty vs Berkshire Hathaway HomeServices Franchise Comparison. Does everyone you recruit automatically become a member of your standard team? In the early 90's Keller Williams began offering franchise opportunities and opened their first location in Oklahoma. Keller Williams provides Profit Share, eXp Realty provides Revenue Share. Thank you for your comment! eXp Realty was founded by Glenn Sanford who was a former Keller Williams agent who realized that a cloud based brokerage that offered revenue share was the future of real estate. Who really knows what … 6:30 a.m. Breakfast with the President of EXP Real Estate Division. Minimum of 25% of EVERY team agent's deals, written in that team agent's name, has to be split to the team leader. by Kyle Handy       Updated November 24, 2020. eXp Realty holds two signature events each year, EXPCON and the Shareholder Summit. Keller Williams was founded in 1983 by Gary Keller and Joe Williams. Again, this can change for each market center at Keller Williams because they are all independently owned. Then 80/20 to eXp Realty. As we have learned in this zoom world of late, we get tired of the virtual and enjoy fellowship. Everything matters when deciding who to name as your sponsor. Example: $10,000 commission on a 50/50 split to team leader. You’ll save more on fees and split as well. Below is an in-depth analysis and side-by-side comparison of Keller Williams Realty vs … It will provide group accountability, scripts, training, and resources to increase your prospecting as an agent. Keller Williams vs. eXp Hello, I’m an agent in Southern California. 11:45 a.m. $2,000 to team leader, $6,000 to agent. I'll detail each below: Team agents are eligible for the ICON stock award as well as all other eXp stock awards and revenue share programs. All opinions remain my own. At eXp Realty, training and support take place in eXp Realty's virtual office, eXp World. One year ago I moved to Utah and continued to only work on the Michigan business. eXp Realty, on the other hand, was founded in 2009 by a former KW team leader, Glenn Sanford. This class is for both new and seasoned agents. FAQ for agents considering joining eXp realty What is eXp Realty? At eXp Realty, all agents are on the same split regardless of state, length in the business, or production levels. He was aware of the shortcomings of real estate brokerages overall so he founded eXp Realty. These figures should not be considered as guarantees or projections of your actual earnings or profits. Both eXp Realty and Keller Williams are doing well in the real estate brokerage market and they are helping real estate agents build successful careers for themselves. You can also hope to earn income in multiple ways if you join eXp Realty. Keller Williams holds two major events each year - MegaCamp and Family Reunion. Thanks for reading our breakdown of eXp Realty vs. Keller Williams! {"email":"Email address invalid","url":"Website address invalid","required":"Required field missing"}, __CONFIG_colors_palette__{"active_palette":0,"config":{"colors":{"62516":{"name":"Main Accent","parent":-1}},"gradients":[]},"palettes":[{"name":"Default Palette","value":{"colors":{"62516":{"val":"rgb(232, 105, 30)","hsl":{"h":22,"s":0.81,"l":0.51}}},"gradients":[]}}]}__CONFIG_colors_palette__, Actionable real estate sales training and lead generation strategies, __CONFIG_colors_palette__{"active_palette":0,"config":{"colors":{"f3080":{"name":"Main Accent","parent":-1},"f2bba":{"name":"Main Light 10","parent":"f3080"},"trewq":{"name":"Main Light 30","parent":"f3080"},"poiuy":{"name":"Main Light 80","parent":"f3080"},"f83d7":{"name":"Main Light 80","parent":"f3080"},"frty6":{"name":"Main Light 45","parent":"f3080"},"flktr":{"name":"Main Light 80","parent":"f3080"}},"gradients":[]},"palettes":[{"name":"Default","value":{"colors":{"f3080":{"val":"rgb(238, 129, 65)","hsl":{"h":22,"s":0.84,"l":0.59}},"f2bba":{"val":"rgba(238, 127, 63, 0.5)","hsl_parent_dependency":{"h":22,"l":0.59,"s":0.84}},"trewq":{"val":"rgba(238, 127, 63, 0.7)","hsl_parent_dependency":{"h":22,"l":0.59,"s":0.84}},"poiuy":{"val":"rgba(238, 127, 63, 0.35)","hsl_parent_dependency":{"h":22,"l":0.59,"s":0.84}},"f83d7":{"val":"rgba(238, 127, 63, 0.4)","hsl_parent_dependency":{"h":22,"l":0.59,"s":0.84}},"frty6":{"val":"rgba(238, 127, 63, 0.2)","hsl_parent_dependency":{"h":22,"l":0.59,"s":0.84}},"flktr":{"val":"rgba(238, 127, 63, 0.8)","hsl_parent_dependency":{"h":22,"l":0.59,"s":0.84}}},"gradients":[]},"original":{"colors":{"f3080":{"val":"rgb(23, 23, 22)","hsl":{"h":60,"s":0.02,"l":0.09}},"f2bba":{"val":"rgba(23, 23, 22, 0.5)","hsl_parent_dependency":{"h":60,"s":0.02,"l":0.09,"a":0.5}},"trewq":{"val":"rgba(23, 23, 22, 0.7)","hsl_parent_dependency":{"h":60,"s":0.02,"l":0.09,"a":0.7}},"poiuy":{"val":"rgba(23, 23, 22, 0.35)","hsl_parent_dependency":{"h":60,"s":0.02,"l":0.09,"a":0.35}},"f83d7":{"val":"rgba(23, 23, 22, 0.4)","hsl_parent_dependency":{"h":60,"s":0.02,"l":0.09,"a":0.4}},"frty6":{"val":"rgba(23, 23, 22, 0.2)","hsl_parent_dependency":{"h":60,"s":0.02,"l":0.09,"a":0.2}},"flktr":{"val":"rgba(23, 23, 22, 0.8)","hsl_parent_dependency":{"h":60,"s":0.02,"l":0.09,"a":0.8}}},"gradients":[]}}]}__CONFIG_colors_palette__, eXp Realty vs. Keller Williams (In-Depth Comparison). As an ICON agent, eXp Realty gives you back the $16,000 that you paid in for your cap in the form of EXPI stock at its current price. When joining eXp would it be best to join under a sponsor from your current state or would you say, that really does not matter. With eXp Realty when an agent leaves, that position becomes a company spot, and all levels remain the same. These are massive events with tens of thousands of agents in attendance. Similar to eXp Realty, they host training sessions, breakout sessions, and talk about upcoming changes with the brokerage, and much more. Also, how has online training helped you? I joined eXp Realty a little over a year ago with my team of 11 agents. Team agents are on a ½ cap ($8,000). Beings we have moved and are trying to decide to stay the course with Coldwell banker or chart a new one. Agreed upon deals are split with team leader first, then eXp second. I've acquired just over 12,000 shares of EXPI stock and built a revenue share organization of over 265 agents (at the time of this writing). If you make it about money, anyone can come in and offer a different split and they’ll leave. A few misconceptions about Keller Williams, but I do live in a rural area. At the very basic level, revenue and … Mentees are on a 60/40 split for their first three closed transactions then go back to the standard 80/20 split after graduating from the mentor program. Learn more about this Single Family Home located at 990 Vineland Road which has 4 Beds, 1 Baths, 1,792 Square Feet and has been on the market for 1 Days. The approach at eXp Realty is collaborative whereas it may be competitive at Keller Williams. There are some significant differences here that we will get into later on in the article. By … $4,000 to team leader, $4,000 to the agent. If you would be an ICON agent at eXp Realty (roughly 30-35 transactions per year in most markets) how do you feel about receiving your full cap of $16,000 back to you each year in the form of EXPI stock? Maps Coaching is additional training, and coaching agents can sign up for to help them take their business to the next level. If you like it the traditional way with a physical office where you can meet clients and close deals, Keller Williams is better for you. I pay all business expenses accept her $3000 royalty fee and her MLS renewal fee. I find it much better to have a broker onsite and agents that can answer questions and help you immediately, even allow you to shadow you. Compare Keller Williams Realty and Berkshire Hathaway HomeServices pros and cons using consumer ratings with latest reviews. if I choose not to go with a team and just independent do I have the same access to the crm as if I was on a team? eXp Realty, on the other hand, is one independent brokerage with no territories, regions, or franchise locations. Keller Williams' focus is on training and education, although they are increasing their stake to become a technology company. All salaries and reviews are posted by employees working at Keller Williams vs. eXp Realty. Hey Kyle, I’m looking at joining an EXP team as a “new” agent. Most of the time, this means having someone in your exact market or within around 50 miles of you. Agents receive Regus memberships where they can access the shared workspaces in over 3000 locations, 900 cities, and 120 countries. So I looked into ExP. Therefore the increased split is warranted. This brokerage was eXp Realty the office would become eXp World. Same as Standard team above except the following: The team leader must have closed a minimum of $40 million, 175 transactions, and had ten capping team members in the previous 12 months, Both couples produce toward one cap and can earn one ICON award for the couple. eXp Realty is a $16,000 cap annually whereas, at Keller Williams, you will likely pay around $21,000 ($18,000 cap plus $3,000 royalty). At both real estate brokerages, new agents will come on typically with a different commission split and offered unique training opportunities specific to new agents. Each level offers a different amount. The company provides all the technical support and live training through its experts. eXp Realty is kind of an offshoot of Keller Williams as it has been founded by Glen Sanford, a top agent working for Keller Williams earlier. The extra 10%, the virtual network and the possibility of recruiting are appealing but not if I will not actually see 80/20 and also not if the folks I recruit will never see it either. EXPCON 2019 in Las Vegas Oc. Why I Left my Brokerage and Joined eXp … Glenn created eXp Realty "Revenue sharing." Also, in person training is much more helpful. When was it started? eXp Realty is also focused on training for agents, offering agents over 50 hours of live training weekly in its cloud-office and even more on-demand. One of the critical differences between eXp Realty vs Keller Williams is having physical brick and mortar offices. This $8,000 does not add to the team leaders $16,000 cap. I do not enjoy the new KW Command, as it seems like I'm duplicating things. The monthly fees at Keller Williams are around $60-80 per month in most market centers. If you have less than 3 deals in the last 12 months and come in on the mentor program, you’ll pay 60/40 for the first 3 deals then go to your normal 80/20. I'm a Sales agent and looking to hang my license. Your example for a 50/50 team is correct. It is an agent owned cloud brokerage that pays high commissions to its agents. I'm now back in since September of 2018. = $5,000 for the agent before eXp Realty: What’s in it for real estate teams? For a detailed explanation of revenue share, check out the article I did here. For most agents, the decision to go with eXp Realty vs Keller Williams typically comes down to these few questions: Do I need a physical office, and am I willing to pay a little more for it? Do note the 6% royalty is on top of this split, so it's closer to 54/46 initially. Because the financial incentive isn't as straight forward as eXp Realty's stock award program, creating a culture where agents look out for one another is challenging. I sell roughly 50 homes annually ($15 million volume) and have been an ICON agent at eXp Realty both years I've been here. Set up like a referral relationship with agents. 45 Replies. In this example, $1,500 would go towards the team agents' $8,000 yearly cap. $5,000 to team leader, $5,000 to the agent. Therefore, compensation plans can vary from one office to another, especially in different states. I wouldn't go as far as to say location doesn't matter. Both Keller Williams and eXp Realty are very good real estate companies to work with as a real estate agent. Aloha Steve Bond. Both companies have a seven-level model. Let me introduce you to eXp Realty. Find the best companies in Real Estate category: Berkshire Hathaway HomeServices and Keller Williams Realty, Berkshire Hathaway HomeServices vs Coldwell Banker, Keller Williams Realty vs … One of the next most common questions asked when agents compare eXp Realty vs Keller Williams is how do teams compare? **eXp Realty Earnings Disclosure** - The earnings portrayed are not necessarily representative of the income, if any, that an eXp agent can or will earn through his or her participation in the eXp Sustainable Revenue Share plan. Some grandfathered Keller Williams team leaders have a structure where additional team agents do not add to their cap. Wow, look at you having over 2 million dollars of eXp stock. One of the most discussed benefits of these two companies is the companies offering of residual income to agents that help grow the company. In addition to the support options for agents, both companies offer agents additional income opportunities. Additionally, they can purchase private office space at an additional monthly expense. If building multiple streams of income (Commissions, Stock, Revenue Share) is appealing to you, then the opportunity lies with eXp Realty. BOLD is one of the most common MAPS coaching groups. The thought of retiring as a real estate agent is most often just that, a thought. At Keller Williams, each market center is individually-owned. Let me start by saying both brokerages are amazing companies and have unique advantages over one another. Around 1985, the housing market experienced a nationwide housing bubble. Once the agent completes their first $1 million in sales volume, they are then moved over to the commission structure we discussed earlier. eXp Realty was founded by Glenn Sanford who was a former Keller Williams agent who realized that a cloud based brokerage that offered revenue share was the future of real estate. At the very basic level, revenue and profit share work like this. At eXp Realty, the eXpand Mentor program is set up to support agents who have not sold 3 or more transactions in the last 12 months. = $4,000 TOTAL, 40% of the total commission to the agent. eXp Realty was founded by Glenn Sanford, a former top Keller Williams agent who realized that a cloud-based brokerage that offered revenue share was the future of real estate.When was it started? When was it started? IF you join a team, and IF the team leader charges a 50/50 split. In this example, $1,000 would go to the team agents' $16,000 cap. That same year it opened offices in Germany, Austria, and the United Kingdom. I have never worked for Keller Williams but have many close friends who do, and I've confided in them to understand the model and their experience with the brokerage. Compare company reviews, salaries and ratings to find out if eXp Realty or Keller Williams Realty is right for you. At eXp Realty the commission split is a fixed 80/20 split with a $16,000 cap across the board. I currently work under KW, but I really like this model. In addition to revenue share, Glenn took eXp Realty public in 2013 and created the agent-equity program where agents could earn publicly traded stock in the company for their sales production and attraction efforts. If you're a new agent and you are considering either Keller Williams vs. eXp Realty, then you'll want to consider the following. MLM? This is the reason eXp Realty claims to be an agent owned cloud brokerage. Additionally, 75/25 was just an example of standard/mega teams. Gene owned over 6 Keller Williams market centers, and Rob was one of Keller Williams' top profit share earners of all time. Most agents I know at Keller Williams are happy to be there and love the brand and leadership even though the financial benefits are a little more limited. Compare that with doing the same production at Keller Williams and not having that opportunity. By comparing employers on employee ratings, salaries, reviews, pros/cons, job openings and more, you'll feel one step ahead of the rest. I’m curious to know which brokerage offers the most help towards a new agent. Hey Dawn! 5:00 p.m. Dinner with the notorious Keller Williams legend Gene Frederick (#12 all time profit share earner at Keller Williams… Glenn was a high producing team leader, doing over $80 million in volume though multiple expansion teams across the country. $2,500 to team leader, $7,500 to the agent. I believe that to understand the culture of a company, and in being able to compare that of eXp Realty vs Keller Williams, you need to have experienced them first hand. Your article was very helpful. Keller Williams® Realty Inc., the fourth largest real estate company in North America, announced today that it outpaced the market in 2008, while remaining … Revenue share is a fixed-percentage and determined by multiplying the gross commission income times that levels percentage amount. Check out my Partner Page for details on the benefits of working with me at eXp Realty. I pay my agent in Michigan 25% on all deals closed there. After many years with Keller Williams and a then small boutique real estate brokerage, I can tell you that eXp … Let’s take a look at eXp Realty vs. Keller Williams. Bold is designed to help real estate agents get over one of the hardest hurdles, which is prospecting. In 2012 Keller Williams went international, launching in Vietnam. Passive Real Estate Income: Fact or Fiction? Keller Williams offers agents programs like Command for CRM and Kelle, a voice-activated AI personal assistant. 20% to eXp The $40 risk management fee goes away after 12.5 transactions ($500) per year. That was until in late-2015 eXp Realty attracted a couple of high-profile former Keller Williams agents, Gene Frederick and Rob Flick. As a team leader, if I sponsored the agent into eXp, I earn revenue share from their transactions in addition to the split. Keller Williams is a franchise model. Keller-Williams, widely considered a fantastic real … There is one thing to point out about each companies compensation plan before going into specific details. eXp Realty is the first fully immersive 3D virtual real estate company. The eXpand Mentor program assigns a LOCAL mentor to the agent. 75/25 split with team leader All team agents have their own $16,000 cap (as does the team leader). At eXp Realty, there are no physical brick and mortar offices. Some of the training is taught consistently every week, while others are one-time training focused on a particular topic. Additionally, eXp agents can purchase private offices from Regus at a reduced rate due to this membership that is already provided by eXp Realty. 20% to eXp Do agents handle all their own listings for the MLS – can they change them without going through an administration? He acquired VirBELA, a virtual reality platform that has been operating eXp… My monthly revenue share pays all of my living expenses and the commissions I earn are play money and savings. Why we left Keller Williams to join eXp Realty. Just my 2 cents! It has more than 1500,00 associates working with. Don't get me wrong, we liked Keller Williams. Team agents are not eligible for the ICON stock award but can earn eXp Realty stock and revenue share. Additionally, agents typically pay a 6% per transaction royalty fee that goes to Keller Williams corporate and caps at $3,000 annually. eXp is a global online brokerage that’s powered by top agents and cutting-edge technology. eXp Realty is publicly-traded on the NASDAQ stock exchange and offers agents and brokers equity ownership in the company for production and attraction milestones. Doing my research, I came across a lot of misinformation and half-truths about each brokerage model. If either the team leader or agent was already capped, then that person would earn 100% of their commission. The mentor is certified, based on their production, a certification class, and the mentor's willingness to join the mentor program. Based in Austin, Texas, it was founded in 1983 by Gary Keller and Joe Williams. To compare eXp Realty vs Keller Williams, agents need to understand the difference between the two. Meaning that not only do you earn this share percentage of the agents you sponsor, but also that of the agents they sponsor down seven levels total. My average commission is around $7,000, so it takes 12 transactions to cap, then an additional 20 to become an ICON. I'm not a huge producer, more middle of the road – 24 listings, and 12 buyers in the past 24 months. Territories, regions, which require hard work, diligence, and if the team leader first, then Williams. D say you ’ d enjoy it here at eXp Realty vs … is! Taxes & Accounting its agents, which sell franchises or exp realty vs keller williams Market-centers '' to retain agents and technology. Estate firm in the US and $ 139 in Canada mentor is certified, based on the of! Financially, does the team agents ' $ 8,000 yearly cap KW in the early 90 's Williams. With me at eXp Realty hosts the majority of its training inside its office! Gene owned over 6 Keller Williams ' massive growth not need to the... 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Bold, Breakthrough, and KW commercial Ignite and maps coaching, including BOLD thehandyteam.com you... Ago with my team of 11 agents Williams had over 30,000 agents nationwide the state... Employees working at Keller Williams multiple ways if you make it easier for you if you wish to discuss.. 1983 by Gary Keller and Joe Williams same production at Keller Williams earners of all homes sold in America...