In Canada, there is a $199 start-up fee to cover the administration of the on-boarding process. This change happens when you sign and return your Independent Contract Agreement (ICA). Every month after that you will be billed $139 a month — this includes your tech fee of $99 and eXp University fee of $40. For each transaction, a $29 broker review fee and $17 risk management fee will be charged as well.
The commission split is 80% to the agent and 20% to the company until you’ve paid $16,000 (your “cap”) to the company. For most agents, this is between 6-12 transactions. After you’ve paid your cap, you earn 100% of the commissions for each transaction less a $285 per deal capped transaction fee. Once you reach ICON status, your per-deal fee is reduced to $75 per transaction.
In the US, the fees are very similar and adjusted for the exchange. Here is the fee chart for eXp USA:
Revenue share is paid on the 22nd day of each month. This is when eXp company dollars are paid to you when agents you have sponsored into the company closed transactions the month before. To receive your revenue share from your sponsored agents deals, you need to have completed two transactions yourself within the last two months OR paid $5K in transaction commission to eXp. IF one of these two things did not happen in the last six months and you choose to collect revenue share, then eXp will take out $250 from that revenue share as a fee for that month. To see your live Revenue Share status, visit eXp Enterprise and click on Revenue Share.
Please be sure to attend the following training in eXp World to make sure you understand your fees and income potential: Introduction to eXp Realty, eXp Orientation, Build Your Revenue Share, Accounting 101 and eXp Enterprise.