Exp Realty Reviews- [Legit MLM or Waste of Time]
Welcome to my Exp Realty Reviews post. Are you a qualified real estate agent? Are you looking to join this cloud based MLM real estate company?
Is Exp Realty a scam, or will it be worth your time and money to join this company? Allow me to reveal the inner workings of eXp Realty to help you to make a more informed decision.
I am happy that you stopped by to check out my review. These days there are so many make money opportunities that can make it overwhelming to decide which one to choose.
If you would like to see the proven method that I use to earn a passive income online, then just click on the link that follows to learn more.
NAME OF PROGRAM : EXP Realty
WHAT IS ABOUT : A platform that allows real estate agents to conduct business within a virtual environment. In addition, the agent can earn money via a MLM-type compensation plan.
PRICE : $149 starter pus additional monthly charges.
OVERALL RATING: The company provides excellent online support and training. However, to earn a passive income one has to focus on the recruiting side. This may not appeal to everyone.
WHAT IS EXP REALTY ALL ABOUT?
Exp Realty is a cloud based real estate company.Essentially what this means,is that most of your interactions will take place within the online space.
For instance, if you are an agent working with Exp Realty, instead of physically going to an office, you can do everything within the virtual space.
The main intention behind creating a virtual business environment, is to eliminate the traditional expenses that are associated with a traditional 'brick and mortar' enterprise and pass them on instead to the associate or agent who joins the company.
HOW DOES EXP REALTY WORK?
When you sign up, you are assigned an avatar. You can walk around the virtual campus, meet up with different people, and visit different departments.
If you like you can also sit down and have meetings with your team members at specific locations.
I guess you can associate the feeling like you are playing a game. The cool part is that you can work from the comfort of your home.
Initially it can be overwhelming as one needs to familiarize themselves with the different departments, and how to go about getting certain things done.
Fortunately they offer lots of training classes and support. If you want you can always visit their information center or welcome desk for help.
Check out the video to see what the eXp World looks like.
HOW MUCH DOES IT COST TO JOIN EXP REALTY? THE EXP COMPENSATION PLAN
There are some costs involved when you sign up with Exp Realty. You have to pay a $149 start up fee.
These are the additional fees :
- $50/month tech fee
- $35/month eXp University fee
- $25 broker fee, and
- $40 risk management fee.
When you make a sale, there is an 80/20 commission split. There is a $16,000 cap after which you earn 100% commissions for the remainder of your anniversary year with the company.
On these 100% commissions there is a $250 transaction fee. Once these capped transaction fees reaches $5000, then the fees are reduced to 75%.
WHAT IS THE EXP REALTY EQUITY PROGRAM ALL ABOUT?
With this program as an agent you have an opportunity to become a shareholder at eXp Realty.
You can earn shares on your first transaction as well as when you fully cap. You can also earn shares when an agent that you sponsor closes their first deal.
Should you achieve certain production and cultural goals with your anniversary year, you can earn up to $16,000 in stock.
You also have the option of enrolling into the Agent Equity program. This allows the system to automatically deduct 5% from your commissions and purchase Exp shares at a 20% discount.
WHAT IS THE EXP REVENUE SHARE PROGRAM ALL ABOUT? THE 7 TIER COMPENSATION PLAN
Now we are getting into the multi-level marketing(MLM) side of things.
The good part is that unlike other MLM companies that I have reviewed like Hempworx, this one does not have a comp.plan that is complicated to understand.
I will take you through it.
The program entitles you to earn up to 3.5 % commission on sales that are generated by the agents whom you directly sponsor(TIER ONE) into the business.
You can a maximum up to $2.800 per year.
There is the Cascading Revenue Share program, that allows you to earn on a TIER TWO Level. In other words, you can earn from the agents that your direct sponsors have brought into the company.
You can a maximum of $3,200 per year.This goes down up to seven tier levels.
- TIER ONE : Up to $2,800
- TIER TWO : Up to $3,200
- TIER THREE : Up to $2,000
- TIER FOUR : Up to $1,200
- TIER FIVE : Up to $800
- TIER SIX : Up to $2,000
- TIER SEVEN : Up to $4,000
The interesting thing is that you are required to have a certain number of agents to unlock a particular tier level.
For instance, to earn commission on the Tier One level, you would need to have a minimum of one agent. To unlock Tier Two Level, you need to have 5 or more agents.
Take a look at the requirements for the remaining levels.
- TIER ONE : 1+
- TIER TWO : 5 +
- TIER THREE : 10 +
- TIER FOUR : 15 +
- TIER FIVE : 20 +
- TIER SIX : 25 +
- TIER SEVEN : 40 +
Bottom Line: The more agents that you sign up, the more money you will earn.
WHAT I LIKE ABOUT EXP REALTY
They have an efficient support system. I even tested their live chat feature and they were prompt and professional in their answers.
They have lots of education and sales training.You also have access to marketing materials, scripts, resources, and presentations to help you with your real estate business.
You do work from the comfort of your home without having to check into a physical office.
You still have the option to speak to an actual broker over the phone or meet up with in person.
They have a revenue share and stock equity program.
WHAT I DO NOT LIKE ABOUT EXP REALTY
The application process can take some time. They need to verify your licence and do background checks and this can them up to 2 weeks or so until you hear from them.
You cannot earn 100% commissions until you reach a cap.
The tier compensation plan focuses heavily on recruiting. This may not appeal to everyone who joins the company.
HOW DO YOU MAKE MONEY WITH EXP REALTY? A QUICK SUMMARY
There are two main ways in which you can earn with EXP Realty.
The first way is via the earning of commissions as a real estate agent selling homes.
The second way is via participating in their Multi-Level Marketing(or MLM) program. As you grow your downline, you earn money according to the compensation plan that I had outlined earlier on.
Now lets's talk about you. Is Exp Realty the right business for you?
Let me help you to answer this question.
IS EXP REALTY A SCAM? HOW TO CHOOSE THE RIGHT BUSINESS OPTION FOR YOU?
Before I help you to do decide, lets first put this question at rest: is Exp Realty a scam?
I do not think that Exp Realty is a scam. They have been within the industry for a fair amount of time. They also scored an A+ rating with the BBB.
Is this the right business choice for you?
I think that one of the biggest factor to influence your decision should be whether you enjoy doing the real estate business. Do you picture yourself doing this type of work day in, day out, with excitement or with dread?
I did not have a very good experience when I got into the real estate game. After attaining my license and having gone through the hoops of finally registering a business and printing business cards and so forth, I was pumped up and ready to go. Ready to take on whatever would come my way!
Little did I realize that I was in for a rude awakening.
It was not all that 'rosy' as I had imagined. There were times when the 'buyer' and 'seller' would cut me out of deal, to avoid having to pay me my commission.
The worst feeling was to be 'stood up' by the potential buyer at the last minute for a scheduled show day. I never enjoyed it.
Perhaps the industry is different nowadays and unlike me, you might enjoy the profession. With EXP,they have more training and support and that can make a difference.
What about the 'MLM' side of things?
I must admit, I never imagined a 'real estate based MLM' model.It's certainly a unique idea, no doubt.
In my opinion, I believe that the MLM principle will always be the same. Recruit more to earn more.
Your success depends on how effective you are in the building of your downline.
A closer look at the Exp Realty comp.plan confirms that if you have an active team, then you have a lucrative business on your hands.
The problem here, is that everyone is different. Not all of the agents that join you will be as active as you. The same can be said with any MLM-type business for that matter.I have reviewed many such as goDesana, CTFO, and Damsel In Defense that proves this point.
The point is that you do not have full control over how much you will earn as it relies on the efforts of others as well.It can fluctuate and you have to be okay with that.
Do you enjoy recruiting?
If you do, then Exp Realty might be for you.
What if you do not like recruiting, is there a way to earn decent money online?
CAN YOU EARN MONEY WITHOUT HAVING TO RECRUIT? YES, YOU CAN.
I joined an amazing online teaching platform that taught me to build a business based on my passion.
I did not have any experience to get started. It is based on a flexible business model that allows me to work on it whenever I am free. Most importantly, it does not require of me to recruit anyone to earn.
It now offers me a passive income online. So, if you are looking for way to stop trading your time for money then perhaps I can help.
I can help you to get started. I can show you a proven method to making money online, click here to learn more.
I hope that you enjoyed reading this Exp Realty reviews post.
I hope that it has helped you out.
Should you have any questions or comments, just leave them below. I promise to get back to you.
Kind Regards and Take Care