eXp Realty Revenue Share Explained 2024
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- čas přidán 22. 07. 2024
- eXp Realty Revenue Share Explained PROPERLY! Most people do NOT properly understand eXp Revenue Share and more specifically the difference between FLA and FLQA and how the eXp Realty Compensation plan works with eXp Rev Share, so I will give you exact examples of how this works.
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I've been wondering specifically about what happens to the rev share in the case of death- so great that you addressed that! Thanks for the great info.
This is so good! Very informative, thanks Mike!
Thanks so much guys! Beyond grateful to have you in our group :)
Thanks for breaking it down, Mike!
Thank you for watching man! Grateful to have you in our group :)
Looking to join EXP but haven’t had anything really explained yet. This is really helpful !
If you're like to know more, send me an email Jess! I have a ton of resources I personally created and most say it's the most well explained breakdown of everything related to the model 👉🏼 mike@mikesherrard.com
@@Mike_Sherrard dont think video is right. you earn exponential or expansion share, not both
Very informative break down Mike 🙏
Thanks so much Shannon I really appreciate that my friend 🙏🏼
6:57 Am I correct in assuming you need these 2 conditions, in order to unlock 2nd TIER:
1) at least 5 FLQAs
2) the 2nd TIER agent, who just earned a commission, has to have sb who is one of your FLQA as their sponsor
Rule 2) ensures, that only if your Front Line Agent has closed a deal in the last 6 months, can you 'unlock' their FLAs. Otherwise all you needed was 5 FLQAs, then you could collect full Exponential Share on ALL 2nd tier agents!
I'm sure Glenn Sanford and his team thought this through carefully. It wouldn't be fun for an investor if eXp realized they were locked-in to paying an escalating waterfall of Exponential Share!
Great explanation Mike! 🔥
Thanks so much man! I really appreciate it :)
Awesome bro, very nicely explained. thank you.
Thanks my friend!
Carlton was here! Great explanation of FLA vs. FLQA
thank you
Truly excellent video - so it seems in a perfect scenario with all 7 levels fully qualified, EXP would be distributing all of its own 20% to someone in the 7 levels... Thinking out loud - EXP (aka "the house") wins in the fact that not all 7 levels will exist at all, or will be qualified, all of the time, and when they do payout it's in exchange for volume that's been achieved by that team to be qualified... I do like how the largest 4.5% chunk is waiting way down there on tier 7...planting incentive for leaders at the top to pour their coaching and attention downline... Again - thanks for a great video!
It's a pretty incredible system... and our group has created an unbeatable value stack on top of the model which has lead to incredible success
Would the revenue share be paid out through share works or a check via direct mail?
Nice video & explanation! There’s a 3 year vesting period where the revenue share doesn’t kick in (payout) until the third year?
It's my understanding that is for the stock awards?
Great explanation 🚀
Thanks so much man!
Solid. Makes sense.
Thank you brother! I appreciate it
Amazing explanation!
Glad you liked it 🙏🏼
Great info again Mike
Thanks man 🙏🏼
What if the agents under you are capped? What do you get in that situation?
How long does it take to get a real estate license? I live in Minneapolis Minnesota.
Hey Brad! It's different in each state... For example Alaska is something like 40 hours... California is like 10x that.
Hi, I'm from Mexico and exp is just starting to operate here, what recommendations would you give me to get more referrals?
Hey Heber! I'm growing my team in Mexico as well so unfortunately I keep all of my secrets for building / growing teams to share with the agents who partner with myself 🤫 All the best with your business though my friend!
What happens if they caP? Do you still get the rev. share? In addition: How doese exp earn money?
Once they cap, there is no rev share. They get 100% commission until the cap resets. eXp makes money through it's agents... and Virbella.
@@Mike_Sherrard I’ve just found out that the cap is for each year! So exp gets 16k (max.) every year, shares the revenue and has still a bit of profit. Thanks for your reply and great video. Would be nice to mention the yearly cap tho;)
Thanks!! I always wondered. My only frustration right now is all of my new “best friends” from exp. 🤪
Haha so true! There is a reason though... I calculated how much more I would have made if I was at eXp 2.5 years ago when I first heard about it (if I properly understood it like I do now... no one I've seen here explains it right...) just based on production *** zero agent attraction *** I'd be approx. $2MM wealthier right now. When it's explained properly it opens your eyes as to why many of the top producers are now coming here.
@@Mike_Sherrard ya this was helpful. It was feeling a bit like a greasy MLM the at people were all of a sudden asking me out for lunch or being overly helpful. I like your approach of educating MUCH better!!
Definitely... within 7 months I've built the fastest growing group ever in the company and to date I've never reached out to a single agent to discuss joining us. Everyone has come directly to us through leading with value and seeing what we are giving to the agents to help them scale their business 🙏🏼
@@Mike_Sherrard and that’s how it should be done! Keep it up man!
@@jacobsheets2133 Thanks so much man! I appreciate it :)
Correction... Keller Williams model of profit share lets you “will” to your family or children. You said no other brokerages do this?
Thank you for the correction Brittnay!
🚀🐺
Hopefully this helps clear up some of the confusion!
So, as an agent, will we get revenue share if we don’t cap? Sounds like it from this video.
Hey Lisa, every agent gets revenue share from any of the agents below you who close transactions, no matter what. It has nothing to do with your level of production :) Whether you've sold 0 homes or 100 homes this year, you'll still get the same amount of revenue share.
@@Mike_Sherrard That’s great! Thank you!
Hey Mike. I’d like you to be my sponsor. What do I have to do ?
3.5 % of 2000 is $70 , not $350? That would be 3.5% of the total commission. I'm confused as you say we need to use eXps commission but you are not using the $2000
It's 3.5% of the GCI, which is 3.5% of the $10,000 commission used in the example, which would be $350... than $350 would come out of eXp's $2,000
@@Mike_Sherrard ah okay, I think I got confused in the beginning when you say it's out of eXp's commission. Thanks for explaining ! (:
You explained it really well and it's an amazing business model, especially for those who may need to exit their business at some point like retirement. Looking forward to joining up with you Mike and the Wolf team
Maybe my math is wrong, but when you are explaining the very basic math upfront you said that 3.5% of the $2,000 equals $350. Am I missing something? 3.5% of $2,000 only equals $70.
It's 3.5% of the GCI (total commission) so it's 3.5% on $10,000 (which is $350) and that is taken from the $2,000 that goes to the company.
Ok maybe I am wrong but 3.5 percent of 2000 is only 70 dollars not 350 the math makes no sense
If you'd like to hop on a call I can explain it in detail to you. It's 3.5% of the GCI (using the $10,000 example) which is $350. That $350 is taken from the companies dollar ($2,000) NOT the agents... so the agent makes the full 80%... and the sponsor is compensated through the split that goes to the company... from the total GCI :)
How do you share revenue before you pay expenses when the company isnt profitable. What happens to revenue share when the company isnt profitable? This model is not sustainable and its only a matter of time before it implodes. Profit share is the way - not revenue share. KW has been through this before. Not having office rent does not validate revenue share - arent you guys a tech company - tech company burn cash like crazy
Saya tidak percaya ia boleh menjadi sebaik ini
you should kill the music. it's a distraction
3.5% of $2000 is $70 and not $350.
The math is as follows Richard. 3.5% of the $10,000 commission is $350. When the agent closes that $10,000 commission... 80% or $8,000 goes to the agent... 20% or $2,000 goes to eXp... and out of the $2,000 that goes to eXp... $350 would go to the sponsoring agent.
@@Mike_Sherrard So you are saying the 3.5% is paid from the gross check and not the portion that goes to EXP?
@@RichardNagel the 3.5% is CALCULATED from the gross check... but is PAID FROM the portion that goes to eXp.
Gross Check = $10,000
3.5% of $10,000 = $350
Portion to Agent = $8,000
Portion to eXp = $2,000
Sponsoring agent is given $350 *from the $2,000 that goes to eXp*.
The agents $ is never touched.
@@Mike_Sherrard Thank you for the clarification.
@@RichardNagel You're welcome my friend! Let me know if you ever need any more info
4% of $2000 is $80. It sounds like he doesn't understand it either.
The math is as follows Richard:
4% of $10,000 = $400
That $400 is given to the sponsoring agent from the $2,000 that goes to the company.