Exp Commercial is a comprehensive residential and commercial real estate brokerage. The eXp World Holdings Company’s eXp Realty division provides full-service, award-winning property management services to both investors and residents alike in the United States, Canada, and other parts of the world.
The eXpi technology tools help agents succeed by providing them with the best professional training, data analytics, commission sharing plans that are fair and competitive for all their agents, an extensive network of top-quality brokers in major metropolitan areas nationwide, access to cloud software systems that offer innovative features such as remote office capability on smartphones or tablets so they can keep up with today’s fast-paced market demands from anywhere at any time.
From portfolio management to residential brokerage, this article will detail what you can get from Exp Commercial.
Data and Tech – eXp Market Analysis
eXp has proven to be a leader when it comes to technology tools. Their electronic platform, expi has been rated as one of the best in the industry by brokerage technology provider, Vista Data Solutions. Here is what you get:
Reonomy is a powerful tool for the management and analysis of commercial real estate portfolios. It utilizes AI to help agents find the perfect property for their expi customer.
You can use Reonomy to search properties by type, size, and history. You’ll be able to find more leads and become the market expert thanks to all the information available on the tool.
When talking about eXp Commercial, Buildout always comes up because it’s one of the major tools the company offers to their expi agents.
Buildout is an interactive tool that allows you to create a listing and see how it would be like in your desired location, or on any other property for example. It also includes important information such as rent price and office space details needed when creating listings.
Buildout also gives expi agents the chance to know how much revenue is needed for a property to be considered profitable.
A powerful tool with an intelligent interface that solves many expi agent’s problems, Buildout will help you make your next exp commercial investment successful.
EXP Commercial offers AI tools as well that are designed specifically for the way its agents work and think so they can optimize their performance while being more productive at whatever task they’re assigned on any given day. One of these AI tools includes Prospector which helps find new leads by analyzing different data sources like social media, real estate listings, or county records among others (source: company website). It then presents them with a list of potential exp commercial property investment opportunities.
- – eXp agents will be able to work smarter and more efficiently with the introduction of Buildout, a new AI tool that has been designed for eXp agents’ specific needs
- Training programs like this can also provide leads as well as access to software solutions that aren’t made available elsewhere.
- Exp Commercial’s proprietary software includes Lead Management System, MLS Connect Pro, Agent Desktop Plus, and more.
- exp commercial’s MLS Connect Pro software is designed to help agents identify, track and manage their prospects in a way that allows them to be the most productive possible.
- The training programs include everything from eXpI agent licensing courses to Exp Commercial’s “Agent Boot Camp.”
- Agents can also receive marketing certification through EXP Marketing Academy which prepares them for running effective campaigns on social media channels or through any number of other digital mediums accessible today.
- exp international offers comprehensive broker management services with tools like CRM as well as back-office accounting solutions such as CPM (source: company website). This not only helps brokers keep up with paperwork but also provides accountability both within themselves and externally by providing management with the data they need for performance reviews.
With the more than 50 hours of weekly training offered, real estate agents and commercial agents who aspire to become successful realtors get all they need to grow. Exp offers a comprehensive exp international broker management training program with help for those looking to become brokers or agents.
- Trainees will learn the ins and outs of managing these properties including leasing, marketing strategies, negotiation techniques as well as legal implications like property law in Canada
- eXp Commercial licensing division also allows people who have not yet completed their education but maintain an active license to work alongside Exp Realty without having to go through the rigorous process of completing it all at once.
The eXp apprenticeship program is for any new commercial agents who have not completed at least three transactions over a period of 90 days. This interactive program will introduce them to the exp world and prepare them for becoming a full-time agent with training in contract management, advertising tactics, customer service skills, office procedures as well as systems
Successful agents receive additional bonuses depending on their level of accomplishment. For example, those who have made more than $50 million worth of transactions are eligible for an annual salary bonus and commission equal to one percent (up to two years)
Benefits include: – A group health coverage plan that has over 165 benefits including dental and vision insurance – An RRSP arrangement where they can save up money tax-free until retirement age – Employee assistance programs like financial counseling and mental wellness coaching which is available 24/hours a day through the support center.
eXp provides access across states
Exp International markets itself throughout Canada by offering support via local offices (in British Columbia, Alberta, and Ontario) that provide necessary resources such as bilingual assistance locally when needed. The company has subsidiaries in each Canadian province. It has also established services in other parts of the world.
A Virtual office for support
Here is another thing about eXp and their business – they have one of the most technologically advanced virtual offices, contrary to what many believe. The company offers a virtual office where expi members can access resources like communications, marketing, and customer support.
Generate multiple incomes from one source – eXp
eXp offers a unique success opportunity for real estate agents by assuring you a general income from multiple sources, namely.
It may be your first time to join the real estate industry, but eXp Inc. will make it work the trouble.
eXp World Holdings Inc. (Nasdaq eXpi) is a company that offers eXp Commercial for its agents. An exp is the primary form of compensation provided to a real estate agent by eXp World, in addition to an equity stake and annual bonuses tied to earnings from commissions on referrals.
With more than 12 million dollars earned from these transactions alone, expi has generated over $12 million just through their commission revenue. EXP Commercial agents are offered stock awards from the brokerage, (depending on the volume of business and conversion from license to an agent) as well as through the annual review process.
When you establish your account, a closing fee of 0.5% will be charged to close your first transaction each year. To hit the production cap of $20,000 for the bonus stock award, sponsors have to close an additional transaction with eXp Commercial after they have closed their open tripping at least once in the same calendar year they joined.
Revenue share at eXp Commercial
eXp Commercial uses revenue share to reward agents. Agents are offered a share of the brokerage’s revenue on their transactions based on how much business they have brought in.
Also, as agents are sponsored by other eXp sponsors and residents, you will be compensated 7 generations down from your sponsorship. Additionally, as the agents you bring in to eXp sponsor other agents, you’ll receive benefits from their agents as well.
Commission Splits and fees at eXp Commercial 2021
All commercial agents at eXp Commercial start with a fee of $250. All agents work on a commission split of 80/20, which means that the agent gets to keep 80% of their commission and 20% goes back to eXp.
That is also to say, once you’ve done $100,000 in gross commissions for the year, and paid 20% of that to eXp Commercial ($20,000), you’ll make 100% net commission until the end of the year. Whether you do $100,000 or more in gross commissions per year won’t matter – only pay $20,000 to eXp Commercial for a commission split.
Additionally, all eXp’s commissions are calculated as a percentage of what the company sales price is multiplied by .0012
For example: if an exp commercial agent sold the property for $90,000 then exp would receive 12*$90,000 = $1080 in fees with that transaction
So when an exp commercial agent sells property at list or below they will make 100% of their commission minus any deduction from the account process payment plan – which is on a sliding scale depending on how much business you bring in.
Sale and lease transactions
Every sale transaction at eXp Commercial is subject to deductions as follows:
- 5% equity stock
- $20,000 commission split
- 20% of exp commercial’s net commissions
For lease transactions, there is:
- 20% company share or capped transaction fee
- Risk Management cut for commission above $1500
- 5% equity (where applicable).
There is also a referral transactions fee of 20% and exp commercial’s net commissions on transactions, and 5% equity in opted programs. This leads to a much higher commission for agents. The same is for all BPO transactions.
eXp Commercial is a commercial real estate transaction management company. They aim to provide the best service and expertise in all facets of transactions involving buildings, land, and help real estate agents achieve their dreams. If you have any questions about how it works with clients please contact us.