Is eXp Realty the most rapidly growing brokerage? Let’s have a look at some of the data. The most prosperous quarter of 2021 was the third. eXp Realty’s revenue increased by 97 percent to a new high of $1.1 billion. Glenn Sanford started the company, which today employs over 70,000 agents worldwide. The corporation expects its expansion to continue into the next decade, with a goal of 100,000 agents by 2022.
eXp Realty’s quick success is due to its revenue share model, which focuses on direct recruitment as one driver. The plan’s emphasis on direct recruiting, on the other hand, could result in a quick fall if one real estate agent leaves. That is, if eXp Realty fails to continue to grow, the revenue share program may reach a breaking point.
eXp Realty also has a generous compensation program to go along with their low-cost plan. Each year, agents are able to earn up to $16,000 in commissions. Agents that have a track record of success will be rewarded handsomely. The commission amount that agents can receive is limited by eXp’s revenue-sharing program. eXp offers a profitable compensation plan that incorporates stock options and revenue share schemes in addition to cheap commissions.
eXp has a competitive advantage that has allowed the organization to recruit top-notch agents. The executive team of the organization is made up of highly skilled individuals who share the same vision. For the third year in a row, eXp has been awarded one of America’s top brokerage firms. And this team’s success is a result of their dedication to the task.
eXp Realty has made it easier to expand into other markets as its popularity and benefits have grown. In addition to the cutting-edge technology, eXp provides a comprehensive training programme for its agents. Each week, the FastStart training course for new agents comprises more than 50 hours of live training. During their first three transactions, each agent is paired with a mentor who specialises in their area. The mentor will assist the agent on subsequent deals for a modest fee. Agents also have access to a big training video library.
eXp Realty currently employs approximately 80,000 agents in 15 countries. The majority of its agents, however, are based in the United States, and the organisation is expanding globally. eXp World Holdings, the company’s publicly traded subsidiary, offers a unique commission structure that appeals to both brokers and agents. Agents can earn equity and provide a variety of technology and brokerage services.
