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Are eXp Realty Teams ACTUALLY worth it? eXp Realty Team Structure UPDATE 2022

Published on: December 6 2022 by Jaime Resendiz

Are eXp Realty Teams ACTUALLY worth it? eXp Realty Team Structure UPDATE 2022

The above is a brief introduction to Are eXp Realty Teams ACTUALLY worth it? eXp Realty Team Structure UPDATE 2022.

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Are eXp Realty Teams ACTUALLY worth it? eXp Realty Team Structure UPDATE 2022

how you set up your team at exp realty
can cost you thousands because there's
different team structures at exp and
each one of them has some nuances and
that potential loss can come in several
ways it can cost you as a broker or a
team leader money directly or it can
cost your agents along with an
opportunity cost in you not growing your
team so we'll be looking at the exp
realty team breakdown i'm going to share
with you all of the structures that you
can go with at exp we're gonna tok fees
we're gonna tok splits and we're also
gonna tok about those little known cons
that a lot of folks
just don't know but first welcome to the
channel my name is jaime resendez and i
help real estate professionals
exponentially grow their business
through actionable content i've had the
great fortune of speaking and sponsoring
a ton of former brokers that close up
their brokerage and join exp under the
team model i've also had the good
fortune of sponsoring some team leaders
that end up joining exp realty for the
same thing to continue their team and
grow it and i've also sponsored solo
agents that go on to build a thriving
real estate team here at exp and i
estimate that i've spoken to about 1400
agents on a one-to-one level about exp
realty and out of those 1400 agents 25
of them bring up the word team so i've
had to really master this topic so every
agent that i work with gets sound advice
sound counsel because as mentioned
earlier if you're not structured the
right way add exp when it comes to a
team structure you can cost yourself
some money alright so let's kick things
off with the domestik team the domestik
team applies to two legally married
agents operating as one so this means
that all of the production that's being
done is applied to one singular cap
which of course is very beneficial
because once you hit that cap of sixteen
thousand dollars you go to a hundred
percent commission split and the
domestik team is also eligible for the
icon award which gives you the ability
to convert those sixteen thousand
dollars that you paid into the brokerage
into exp realty stok so when it comes
to the fees you're only paying one join
fee of 149
the primary partner pays 85 a month
while the secondary partner has a
reduced monthly fee of 50 all right so
that's the domestik team the team that
most couples end up going with if
they're legally married all right so now
on to the next team structure and that's
the self-organized team this is one of
the most common team structures that you
can have at exp because it's so flexible
with a self-organized team any agent at
exp can start one now with the
self-organized team you need a minimum
of two agents so this could be you and a
team member and there's no maximum
number of agents you can have and the
reason that this structure is so common
is because you as a team leader are not
obligated to charge a certain amount or
referral fee to your team members
meaning that there's other team
structures out there that do require
that you charge a minimum percentage
referral fee which we'll tok about here
shortly now something super important to
note that under this self-organized team
there is no change in the cap for your
team members the cap is still sixteen
thousand dollars for every team member
which means that under this team
structure given that you have a full
sixteen thousand dollar cap every single
team member is eligible to achieve icon
which as a reminder if you achieve the
icon status you're eligible to receive
those sixteen thousand dollars back in
the form of equity this model works
really well for agents who want a lot of
flexibility in a team it's also great
for those who are looking for specific
benefits from the branding or marketing
collateral held by the team leader in
this team structure agents can join the
team and pay a light referral fee to be
part in the team leaders benefits so
many ways you get a lot of the benefits
of being an individual agent married
with the benefits of being on a team
assuming that that team has leads
resources and other things that you find
valuable for your business alright so
now on to the standard team this is when
we start getting a little bit more in
the real estate team territory as you
know it under this standard team
structure your members are eligible for
half a cap meaning it's not a sixteen
thousand dollar cap any longer it's an
eight thousand dollar cap now the
trade-off however is that any team
member that opts for that half cap now
has to pay a minimum of 25 referral fee
to the team leader so in this scenario
an agent that goes into the half cap is
paying 20
to exp which the standard split at exp
is 80 20 and is paying 25 to the team
leader so up until that cap during those
transactions the agent is receiving 55
of the commission now starting from this
team structure moving forward is when
we're toking about team agreements that
need to be approved by exp now with the
other two team structures that we just
toked about the domestik and
self-organized you can have a written
team agreement but it doesn't need to be
approved by exp now something that is
constant across the board regardless of
the team that you set up you do need to
turn in the team roster to exp that way
they know how to cut the commission
checks that way they know who is
receiving which split now under the
standard team there's some additional
minimums required we already know the
minimum 25 referral fee if the team
members opt into half cap to operate a
standard team there are some minimums
when it comes to sales you have to
either do 30 transactions or 6 million
in sales volume in the previous 12
months so if you become a team leader
here at exp whether because you closed
up your independent brokerage or you
were a team leader somewhere else and
joined exp and want to start your team
here simply because you want to start a
standard team does not mean that you
have the right to there are some
requirements but with that being said
most brokerages that end up coming to
exp and also most team leaders that end
up coming over meet the sales
requirement so it's not a big deal this
is really a standard structure that
you're gonna find in other brokerages
all right so now let's look at the
fourth team structure which is the mega
icon team now the mega icon team is one
of the more rare type of team structures
at exp because there are some additional
requirements and not everybody can
fulfill them for one the sales volume
needed to operate this type of team is
40 million in sales and at least 175
transactions so as long as your team has
done that and can prove that they've
done that in the last 12 months you're
good to start this type of team now a
big reason that a lot of team members go
from the standard team into the mega
icon team once they have that sales
volume is because their team members now
have access to a quarter cap so as
opposed to paying eight thousand dollars
under the standard team which they're
eligible for under the half cap they now
have the option of a four thousand
dollar cap in the mega icon team
structure but what doesn't change is a
minimum referral fee required of 25
being paid to the team leader so again
as a reminder if the team member opts
into a quarter cap arrangement then they
are contractually obligated to do a 25
referral fee to the team leader and
under this team structure you also need
to have your written agreement be
approved by exp along with providing the
roster of everyone in your team so exp
knows how to cut the commission checks
now something else that makes the mega
icon team a bit more unique is that
there's two additional minimum
requirements that aren't required
anywhere else first the minimum number
of agents that you need to be part of
your mega icon team is 11 agents total
including yourself now of course you can
have as many agents as you want so there
is no maximum and the second minimum
requirement is that the team has to have
at least 56 000 in commission splits
paid so in other words if you do the
math on those fifty six thousand dollars
that means that you as a team leader you
still have the standard cap of sixteen
thousand dollars and that ten additional
agents have capped as well now that cap
of course is a quarter cap so that's how
the math works out you are paying
sixteen thousand dollars the normal cap
and then ten times four thousand that's
forty thousand so you combine them
together that's where you get the fifty
six thousand so as you can imagine the
mega icon team is perfect for those
larger teams so now that we know the
team structures at exp with the domestik
self-organized standard and mega icon we
now migrate into how to actually
calculate your commissions because
sometimes that can get complicated so if
you're in a team and are expecting a
commission check here's what ends up
happening the first deductions are for
any outside referrals owed to other
brokers meaning that you took a referral
from another brokerage and owe 25 on
that deal with that 25 gets deducted out
first next the gross commissions or
remaining commissions after outside
referrals are divided between the team
leader and team member so let's just say
for the sake of this example that you're
on a 50 50 split with your team leader
so that means that what's left of that
original transaction remember you gave
25 as a referral fee so that it leaves
you 75 to work with well if you divide
that out equally half of it's gonna go
to your team leader and half of it goes
to you it is then that all exp realty
company dollar and fees are calculated
from each agent individually so it's at
this point that your split gets factored
in along with any other fees
specifically you as an individual agent
same thing is going to apply to your
team leader if they're not capped then
they're going to have their split to
contend with if you're not capped you're
also going to have the split to contend
with in relation to exp and something
super important to understand is that
there is no such thing as double
transaction fees given that transaction
fees such as a broker review fee a
capped transaction fee and risk
management fee are per transaction not
per agent so as an example let's take
the risk management fee of forty dollars
now that 40 is per transaction not per
agent so you're not responsible for the
entire 40
you are responsible for the percentage
of the transaction so in this case if
you're in a 50 50 split then you're
responsible for half which is twenty
dollars now i understand this can get
confusing i can totally relate it threw
me off for the longest time so if you're
interested in the cheat sheet that i use
with all of the brokers that are looking
to come on all of the team leaders that
are looking to come on and all of the
solo agents that are looking to build
their team then check out the link in
the description

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