I heard about eXp Realty revenue sharing as a real estate brokerage story. That peeked by interest and I wanted to take a closer look.
eXp went public in 2013, and listed on NASDAQ (symbol: EXPI) in 2018.
2 things that eXp does differently compared to other brokerages:
eXp Realty has a stock purchase plan that allows agents to take 5% of their commission checks and buy the stock at a 10% discount.
For every real estate agent you personally introduce to eXp Realty you can earn up to $2,800 annually. The revenue share team is seven lines deep, so you’ll also earn between 0.2% and 5% of what those agents earn. Long story short, there is no limit to the amount of rev share you can earn at eXp.
Number 1, it encourages agents to perform as their financial interest is tied with the companies profitability, or stock performance. They also have the stock award program when you complete certain tasks with a 3-year vesting period.
Number 2, you can see exponential growth in agent numbers with the introduction program. It reminds me of Amway somehow. After some reading, it is not a pyramid scheme or multi-level marketing scheme. It does have real services and products to provide outside their network. They are also publicly traded company, and need to pass the rigorous SEC audit.
I think what eXp does is interesting, they also already have offices in Canada. Perhaps we can have something similar that is Canadian bred?
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