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eXp Realty Fees 2022 - Do NOT Join eXp Realty Until You Know EVERY eXp Fee!

Published on: December 6 2022 by Jaime Resendiz

eXp Realty Fees 2022 - Do NOT Join eXp Realty Until You Know EVERY eXp Fee!

eXp Realty Fees 2022 - Do NOT Join eXp Realty Until You Know EVERY eXp Fee!

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00:00:00 00:00:04 what fees does exp realty have it's one
00:00:02 00:00:07 of the most common questions that i get
00:00:04 00:00:10 and i've spoken to over 1400 agents on a
00:00:07 00:00:12 101 level about exp so i know a thing or
00:00:10 00:00:14 two about the subject because i quickly
00:00:12 00:00:17 had to become an expert in it so we'll
00:00:14 00:00:19 look at all the fees that exp realty has
00:00:17 00:00:21 in detail and here's the thing there's
00:00:19 00:00:23 gonna be some fees that make it a
00:00:21 00:00:25 no-brainer but there's also gonna be
00:00:23 00:00:27 some fees that even i am a little bit
00:00:25 00:00:29 conflicted with there's one being
00:00:27 00:00:31 specific that you're gonna hear me
00:00:29 00:00:32 address in a different way through a
00:00:31 00:00:35 different lens but i'm getting ahead of
00:00:32 00:00:36 myself first allow me to welcome you to
00:00:35 00:00:38 my youtube channel my name is jaime
00:00:36 00:00:40 resendez and i help real estate
00:00:38 00:00:42 professionals exponentially grow their
00:00:40 00:00:44 business through actionable content
00:00:42 00:00:46 alright so let's dig in first off we
00:00:44 00:00:51 have to go with the startup fee there is
00:00:46 00:00:52 a fee to join exp realty and that's 149
00:00:51 00:00:55 now two quick things about this startup
00:00:52 00:00:57 fee number one this is in us dollars so
00:00:55 00:00:59 we're speaking specifically to the u.s
00:00:57 00:01:01 market with this partikular figure and
00:00:59 00:01:04 number two this already includes your
00:01:01 00:01:06 first month's fee at exp that's very
00:01:04 00:01:09 important to note here that this startup
00:01:06 00:01:11 fee is only the fee associated to exp
00:01:09 00:01:14 realty the brokerage this does not
00:01:11 00:01:16 include any transfer fees from your mls
00:01:14 00:01:18 from your association from your real
00:01:16 00:01:20 estate commission that is all separate
00:01:18 00:01:22 so just keep that in mind so when you're
00:01:20 00:01:24 contemplating the move to exp or any
00:01:22 00:01:26 other brokerage for that matter you need
00:01:24 00:01:28 to factor in those additional costs that
00:01:26 00:01:31 go into moving now of course that
00:01:28 00:01:33 startup fee is a one-time fee that only
00:01:31 00:01:36 happens once what happens every single
00:01:33 00:01:37 month is your cloud brokerage fee of
00:01:36 00:01:40 eighty-five dollars this eighty-five
00:01:37 00:01:42 dollars a month is a fixed fee which is
00:01:40 00:01:45 essentially your cost of doing business
00:01:42 00:01:47 with exp this 85 is deducted from your
00:01:45 00:01:49 bank account every single month
00:01:47 00:01:51 regardless if you have zero transactions
00:01:49 00:01:53 that month or a hundred transactions
00:01:51 00:01:55 it's gonna come out so in other words if
00:01:53 00:01:57 you join exp realty and don't have a
00:01:55 00:01:59 single transaction in a year you will
00:01:57 00:02:01 have paid a thousand and twenty dollars
00:01:59 00:02:03 to exp now of course that's not the goal
00:02:01 00:02:04 i'm just giving you some real numbers
00:02:03 00:02:07 and given that this video is about the
00:02:04 00:02:10 fees of exp i'm not gonna go into all of
00:02:07 00:02:12 the benefits that you get for those 85
00:02:10 00:02:14 but i will share just a few highlights
00:02:12 00:02:16 you will get access to kb core for that
00:02:14 00:02:18 fee you'll also get access to over 60
00:02:16 00:02:20 hours of live training and you'll get
00:02:18 00:02:22 access to regis office locations
00:02:20 00:02:24 worldwide alright so that's the fix fee
00:02:22 00:02:26 that is the cost of doing business
00:02:24 00:02:28 regardless if you have zero transactions
00:02:26 00:02:31 or 100 transactions as alluded to
00:02:28 00:02:34 earlier the next fees are variable fees
00:02:31 00:02:36 these fees only happen when a
00:02:34 00:02:40 transaction occurs and the biggest one
00:02:36 00:02:43 being your split the split at exp realty
00:02:40 00:02:45 is 80 20. 80 for you the real estate
00:02:43 00:02:48 agent and 20 for the brokerage and that
00:02:45 00:02:51 80 20 split will stay intact until you
00:02:48 00:02:53 cap the cap at exp is sixteen thousand
00:02:51 00:02:55 dollars after you cap you go to a
00:02:53 00:02:57 hundred percent commission plan and to
00:02:55 00:02:58 reach the cap of sixteen thousand
00:02:57 00:03:00 dollars which means that the brokerage
00:02:58 00:03:02 has received sixteen thousand dollars as
00:03:00 00:03:05 part of your gross commission income
00:03:02 00:03:08 you'll have a sales volume of 2.66
00:03:05 00:03:09 million in sales volume to me now that's
00:03:08 00:03:11 assuming that the average commission
00:03:09 00:03:12 that you charge is gonna be three
00:03:11 00:03:16 percent for you so in other words if you
00:03:12 00:03:18 sell 2.66 million in sales volume and
00:03:16 00:03:20 you charge your clients three percent
00:03:18 00:03:22 that is an eighty thousand dollar gci
00:03:20 00:03:24 year so of that gci those sixteen
00:03:22 00:03:26 thousand dollars will go to the
00:03:24 00:03:29 brokerage anything beyond that level of
00:03:26 00:03:31 gci you are receiving a hundred percent
00:03:29 00:03:33 commission split on okay so that's the
00:03:31 00:03:35 split that you get at exp realty and
00:03:33 00:03:37 that only comes out of your paycheck
00:03:35 00:03:39 once there's actually a paycheck to be
00:03:37 00:03:41 cut now there's two additional fees that
00:03:39 00:03:43 you need to be mindful of one of those
00:03:41 00:03:45 being the broker review the transaction
00:03:43 00:03:47 review which is 25
00:03:45 00:03:50 now this review fee of 25
00:03:47 00:03:52 goes to all transactions at exp it
00:03:50 00:03:53 doesn't matter if you've capped it
00:03:52 00:03:55 doesn't matter if you haven't capped it
00:03:53 00:03:56 doesn't matter if you're in the mentor
00:03:55 00:03:59 mentee program which we'll tok about
00:03:56 00:04:01 here shortly it will be assessed but
00:03:59 00:04:03 again a quick reminder this fee is only
00:04:01 00:04:05 assessed when there's actually a
00:04:03 00:04:07 transaction in play this isn't a monthly
00:04:05 00:04:10 thing and the other fee to be mindful of
00:04:07 00:04:13 is the eno the risk management fee of
00:04:10 00:04:17 forty dollars per transaction this iano
00:04:13 00:04:20 fee also has a cap on it and that's 500
00:04:17 00:04:21 so roughly around 13 transactions is
00:04:20 00:04:25 what's going to take for you to get to
00:04:21 00:04:27 this cap of 500 which means that you
00:04:25 00:04:29 will not be paying more than 500 for
00:04:27 00:04:31 your eno which this is one of those
00:04:29 00:04:33 necessary fees that should excite you
00:04:31 00:04:36 because in many other brokerages they
00:04:33 00:04:38 use this very fee as a revenue generator
00:04:36 00:04:39 for them because there's many other
00:04:38 00:04:43 brokerages out there that will charge
00:04:39 00:04:46 you 500 800 1200 at the beginning of the
00:04:43 00:04:49 year as a profit center for them because
00:04:46 00:04:52 they know that statistikally most agents
00:04:49 00:04:54 will never end up using all of that
00:04:52 00:04:55 amount so this is one of those fees that
00:04:54 00:04:57 should excite you if you're coming in
00:04:55 00:04:59 from a brokerage that has been doing
00:04:57 00:05:01 that to you that at the beginning of the
00:04:59 00:05:03 year or as soon as you sign up with them
00:05:01 00:05:05 they are charging you this fee upfront
00:05:03 00:05:07 now that is the most basic the most
00:05:05 00:05:09 standard the most fundamental
00:05:07 00:05:12 explanation of exp realty fees but
00:05:09 00:05:14 please allow me a couple more minutes to
00:05:12 00:05:16 get into the weeds of all of the fees to
00:05:14 00:05:18 really look out for because at the end
00:05:16 00:05:20 of the day this is money that's coming
00:05:18 00:05:22 out of your commission check so you need
00:05:20 00:05:24 to know all right so that scenario of
00:05:22 00:05:27 having the 149 startup fee which
00:05:24 00:05:29 includes your first month's monthly fee
00:05:27 00:05:31 that's going to apply to everybody
00:05:29 00:05:32 across the board what's also going to
00:05:31 00:05:36 apply to everybody across the board is
00:05:32 00:05:39 that 85 a month as your monthly fee
00:05:36 00:05:43 moving forward and then the split of 80
00:05:39 00:05:45 20 and 40 dollars for the eno 25 for the
00:05:43 00:05:48 broker review that's gonna apply to the
00:05:45 00:05:50 majority of the agents that come on
00:05:48 00:05:52 board but now let's address the
00:05:50 00:05:54 situation of a new real estate agent so
00:05:52 00:05:57 this could very well be you you either
00:05:54 00:05:59 just got out of real estate school took
00:05:57 00:06:01 your exam and passed congratulations and
00:05:59 00:06:02 now you're searching for your real
00:06:01 00:06:04 estate brokerage and you're looking at
00:06:02 00:06:06 exp realty or you're an agent with
00:06:04 00:06:08 another brokerage that hasn't had as
00:06:06 00:06:09 much traction as you had hoped there
00:06:08 00:06:11 wasn't training there wasn't support
00:06:09 00:06:13 there wasn't systems there wasn't much
00:06:11 00:06:15 which is common
00:06:13 00:06:17 but here's the thing you're looking at
00:06:15 00:06:18 exp as well although you've been with
00:06:17 00:06:21 another brokerage and are looking to
00:06:18 00:06:23 join exp realty but you haven't had the
00:06:21 00:06:25 traction that you had hoped for so if
00:06:23 00:06:28 you're an agent in those two camps that
00:06:25 00:06:30 has not had at least three transactions
00:06:28 00:06:32 in the previous 12 months of you joining
00:06:30 00:06:34 then you're gonna go into what's called
00:06:32 00:06:36 the mentor mentee program and that
00:06:34 00:06:38 program was created to reduce the
00:06:36 00:06:41 failure rate which is already insanely
00:06:38 00:06:43 high in real estate of over 80 percent
00:06:41 00:06:45 of agents failing within the first three
00:06:43 00:06:46 years and under that mentor mentee
00:06:45 00:06:49 program you're gonna be given at least
00:06:46 00:06:51 two additional resources one is exp
00:06:49 00:06:53 university and two is you're going to be
00:06:51 00:06:55 assigned a mentor and those two
00:06:53 00:06:58 additional resources do cost you for the
00:06:55 00:07:00 first three transactions your split is
00:06:58 00:07:02 not going to be 80 20. your split is
00:07:00 00:07:03 going to be 60 40. so you're paying an
00:07:02 00:07:05 additional 20
00:07:03 00:07:08 per transaction that closes with 10
00:07:05 00:07:11 percent going to exp university and the
00:07:08 00:07:13 other 10 going to your local mentor and
00:07:11 00:07:15 while this 60 40 split is in effect for
00:07:13 00:07:17 the first three transactions after the
00:07:15 00:07:19 third transaction aka your fourth
00:07:17 00:07:21 transaction you're gonna go to the
00:07:19 00:07:22 standard 80 20 split but in the meantime
00:07:21 00:07:25 as you're going through those three
00:07:22 00:07:27 transactions you are going through exp
00:07:25 00:07:28 university and your local mentor is
00:07:27 00:07:31 helping you out now this is a scenario
00:07:28 00:07:32 for new real estate agents the rest of
00:07:31 00:07:35 the fees that we toked about
00:07:32 00:07:37 independent of the split are the same
00:07:35 00:07:39 you still have the monthly fee of 85
00:07:37 00:07:41 dollars you still have the 40 dollars
00:07:39 00:07:43 for eno per transaction and you still
00:07:41 00:07:45 have the 25 dollars for broker review
00:07:43 00:07:47 alright so now let's tok about another
00:07:45 00:07:49 type of agent which i call the capping
00:07:47 00:07:52 agent the capping agent is an agent that
00:07:49 00:07:55 goes on the cap at exp realty that goes
00:07:52 00:07:57 on to experience the 100 commission and
00:07:55 00:07:59 this could very well be your situation
00:07:57 00:08:01 you may be a capping agent where your
00:07:59 00:08:03 sales volume is going to be over 2.66
00:08:01 00:08:05 million in sales volume and you charge
00:08:03 00:08:07 your clients three percent commission if
00:08:05 00:08:09 you do that level of sales then you're
00:08:07 00:08:12 capping at exp so if that's you
00:08:09 00:08:13 congratulations but we really truly need
00:08:12 00:08:15 to tok about the fees that you're
00:08:13 00:08:18 incurring after the fact so let's do a
00:08:15 00:08:20 quick recap 85 a month which is monthly
00:08:18 00:08:22 regardless of zero transactions or 100
00:08:20 00:08:24 transactions it's also going to be an 80
00:08:22 00:08:25 20 split assuming you're a producing
00:08:24 00:08:27 agent which if you're a capper you
00:08:25 00:08:30 clearly will be it's going to be an 80
00:08:27 00:08:32 20 split it's going to have a 40 eno and
00:08:30 00:08:33 then you're going to have a broker
00:08:32 00:08:36 review of 25
00:08:33 00:08:39 now after you cap the split of 80 20
00:08:36 00:08:42 goes away and what takes its place is a
00:08:39 00:08:44 transaction fee a fixed transaction fee
00:08:42 00:08:46 of 250
00:08:44 00:08:49 so for every transaction post capping
00:08:46 00:08:52 you're not paying an 80 20 split any
00:08:49 00:08:55 longer you're paying a fixed fee of 250
00:08:52 00:08:58 dollars that fixed transaction fee post
00:08:55 00:08:59 capping will be in place until you reach
00:08:58 00:09:02 5 000
00:08:59 00:09:05 in fees which means for the next 20
00:09:02 00:09:08 transactions that's when the 250
00:09:05 00:09:10 transaction fee gets reduced to 75
00:09:08 00:09:12 per transactions and we'll do the math
00:09:10 00:09:13 here shortly so you see the differences
00:09:12 00:09:16 now what's super important for you to
00:09:13 00:09:18 understand is a capping agent again an
00:09:16 00:09:21 agent that's gonna join exp and it's
00:09:18 00:09:23 gonna cap is not what happens after the
00:09:21 00:09:25 capping which 100 commission is awesome
00:09:23 00:09:28 that's great right that's cool however
00:09:25 00:09:31 what happens 20 transactions after you
00:09:28 00:09:34 cap which is called achieving icon
00:09:31 00:09:36 status once you achieve icon status
00:09:34 00:09:38 you're eligible to receive the sixteen
00:09:36 00:09:40 thousand dollars that you originally
00:09:38 00:09:42 paid remember you cap at sixteen
00:09:40 00:09:43 thousand dollars then you go into a
00:09:42 00:09:45 transaction fee transaction fee
00:09:43 00:09:47 transaction fee until you reach icon
00:09:45 00:09:50 status 20 transactions after you cap
00:09:47 00:09:54 that sixteen thousand dollars is now
00:09:50 00:09:56 converted into equity for you into exp
00:09:54 00:09:59 stok so what was once an expense gets
00:09:56 00:10:01 converted into an asset for you so in my
00:09:59 00:10:03 market as an example in the dallas fort
00:10:01 00:10:05 worth market it's going to take about 10
00:10:03 00:10:07 transactions to cap at most the way that
00:10:05 00:10:10 the prices are here well after i cap
00:10:07 00:10:12 after those 10 transactions and i add 20
00:10:10 00:10:15 more transactions after that that means
00:10:12 00:10:18 that for 30 transactions 30 homes i
00:10:15 00:10:20 achieve icon status now full disclosure
00:10:18 00:10:22 there are some additional requirements
00:10:20 00:10:24 that you have to fulfill in order to
00:10:22 00:10:26 receive that sixteen thousand dollars
00:10:24 00:10:28 but worst case scenario i get those
00:10:26 00:10:31 sixteen thousand dollars back in the
00:10:28 00:10:34 form of equity and the stok at exp goes
00:10:31 00:10:36 to zero well worst case scenario that
00:10:34 00:10:39 happens the brokerage goes bankrupt and
00:10:36 00:10:40 i now have to go find another brokerage
00:10:39 00:10:43 obviously i don't want that that would
00:10:40 00:10:45 mean a big portfolio that i have right
00:10:43 00:10:47 now evaporating to zero so that would be
00:10:45 00:10:50 awful worst case scenario but best case
00:10:47 00:10:52 scenario i traveled back in time to when
00:10:50 00:10:54 the stok was in the penny stoks and i
00:10:52 00:10:57 have those sixteen thousand dollars get
00:10:54 00:10:59 issued to me in stok and now that
00:10:57 00:11:01 portfolio is worth millions that's best
00:10:59 00:11:03 case scenario so i have to figure out
00:11:01 00:11:05 some time travel first now of course i
00:11:03 00:11:07 kid there's no way to know what those
00:11:05 00:11:10 sixteen thousand dollars that gets
00:11:07 00:11:11 issued to me in stok will be worth in
00:11:10 00:11:13 five years ten years twenty years
00:11:11 00:11:15 there's no way to know that but i would
00:11:13 00:11:18 much rather receive those sixteen
00:11:15 00:11:20 thousand dollars back today and pray for
00:11:18 00:11:22 the best because at the rate that exp is
00:11:20 00:11:25 growing chances are that it's gonna be
00:11:22 00:11:26 an okay stok but of course i'm no
00:11:25 00:11:29 financial expert do your own due
00:11:26 00:11:31 diligence you can buy the exp stok
00:11:29 00:11:33 right now it's on the nasdaq so you
00:11:31 00:11:35 don't have to be part of exp however if
00:11:33 00:11:38 you're a real estate agent that is doing
00:11:35 00:11:41 a ton of volume already and you have an
00:11:38 00:11:43 icon status eligibility if you were with
00:11:41 00:11:46 exp realty with the volume that you have
00:11:43 00:11:47 now might be worth you looking at exp a
00:11:46 00:11:49 little bit closer because if you're
00:11:47 00:11:51 doing let's say 50 transactions in
00:11:49 00:11:55 another brokerage chances are you're
00:11:51 00:11:57 paying your broker 30 40 50 60 80 000
00:11:55 00:11:59 a year with exp you actually get paid to
00:11:57 00:12:00 be here it's a no-brainer all right so
00:11:59 00:12:02 let's go into some examples so you see
00:12:00 00:12:04 how they're applied let's say you have a
00:12:02 00:12:06 commission of ten thousand dollars for
00:12:04 00:12:08 the month and you have not capped well
00:12:06 00:12:10 since you haven't capped there's an 80
00:12:08 00:12:13 20 split so that means that 80 goes for
00:12:10 00:12:14 you 20 goes for the brokerage so that
00:12:13 00:12:17 means that 8 000
00:12:14 00:12:19 gci is coming to you now we also need to
00:12:17 00:12:21 subtract that broker slash transaction
00:12:19 00:12:24 review that we toked about and that fee
00:12:21 00:12:26 is 25 and when we factor in the eno of
00:12:24 00:12:28 forty dollars you're left with seven
00:12:26 00:12:30 thousand nine hundred and thirty five
00:12:28 00:12:31 dollars so that is what your commission
00:12:30 00:12:34 check comes out to now let's tok about
00:12:31 00:12:35 a post capping scenario a scenario in
00:12:34 00:12:37 which you've already paid sixteen
00:12:35 00:12:38 thousand dollars into the brokerage so
00:12:37 00:12:40 if you have a ten thousand dollar
00:12:38 00:12:42 commission at that point you're
00:12:40 00:12:44 subtracting a two hundred and fifty
00:12:42 00:12:46 dollar transaction fee remember that 80
00:12:44 00:12:48 20 split is no longer in effect and then
00:12:46 00:12:51 you're also subtracting that broker
00:12:48 00:12:53 slash transaction review of 25 and given
00:12:51 00:12:55 that you've already capped with your
00:12:53 00:12:59 sales volume in many markets you will
00:12:55 00:13:02 have already kept your eno of 500 as
00:12:59 00:13:04 well so that additional 40 is no longer
00:13:02 00:13:05 at play so what you're left with is 9
00:13:04 00:13:07 725
00:13:05 00:13:09 on that transaction now before i share
00:13:07 00:13:11 the fees that are giving me the big
00:13:09 00:13:14 conflict right now i want to share with
00:13:11 00:13:17 you two unique programs that directly
00:13:14 00:13:19 affect the fees and depending on where
00:13:17 00:13:21 you are in your real estate journey and
00:13:19 00:13:22 what you plan to do with your real
00:13:21 00:13:25 estate license this might impact you
00:13:22 00:13:26 directly if you are an investor or if
00:13:25 00:13:29 you're looking to get into investing
00:13:26 00:13:32 there's no better home than exp realty
00:13:29 00:13:34 for you on your personal sales the cells
00:13:32 00:13:37 that you are the owner of the properties
00:13:34 00:13:39 that you're selling you get three
00:13:37 00:13:41 personal transactions that you don't
00:13:39 00:13:44 have to pay a split on that's right
00:13:41 00:13:45 every single year you get up to three
00:13:44 00:13:47 transactions that you don't have to pay
00:13:45 00:13:49 a split on if they're your personal
00:13:47 00:13:51 transactions your personal deals the
00:13:49 00:13:55 only thing you pay on those transactions
00:13:51 00:13:57 are the transaction fee which is 250 the
00:13:55 00:13:59 broker review which is 25 and the eno
00:13:57 00:14:01 which is 40. now another benefit to
00:13:59 00:14:04 consider at exp is that you get business
00:14:01 00:14:05 flexibility so you dictate how to run
00:14:04 00:14:07 your business which means that if you
00:14:05 00:14:09 want to give family or friends discount
00:14:07 00:14:11 or run your business however you want at
00:14:09 00:14:13 a lower commission not telling you what
00:14:11 00:14:14 to charge just giving you the options
00:14:13 00:14:17 here you have the flexibility of
00:14:14 00:14:19 charging what's called minimum company
00:14:17 00:14:21 dollar with your listings so let's just
00:14:19 00:14:23 say for whatever reason you want to sell
00:14:21 00:14:25 a family member's home at cost again for
00:14:23 00:14:27 whatever reason that's what you want to
00:14:25 00:14:29 do your family member at that point is
00:14:27 00:14:31 just required the amount that it would
00:14:29 00:14:32 take to sell that home at cost at least
00:14:31 00:14:34 from your side because you get to
00:14:32 00:14:37 dictate how much you charge well as long
00:14:34 00:14:39 as you cover the minimum company dollar
00:14:37 00:14:42 which is 500
00:14:39 00:14:44 and cover the eno which is 40 and broker
00:14:42 00:14:47 review at 25 well as long as you cover
00:14:44 00:14:49 those three costs you're good to go so
00:14:47 00:14:51 exp does not tell you you need to charge
00:14:49 00:14:53 x percent they just won't do that that's
00:14:51 00:14:55 a business decision for you and with
00:14:53 00:14:58 that being said here's the fee that's a
00:14:55 00:15:00 big conflict for me and it's more of the
00:14:58 00:15:02 way that i run my business because i
00:15:00 00:15:04 have multiple youtube channels i have a
00:15:02 00:15:07 digital marketing company i have a lot
00:15:04 00:15:10 of ways to bring in leads and business
00:15:07 00:15:12 which i do however at this point i am
00:15:10 00:15:14 working more from the referral side of
00:15:12 00:15:16 the equation so that's something that's
00:15:14 00:15:18 very important for me so a challenge
00:15:16 00:15:20 that i have is more directly connected
00:15:18 00:15:23 with how referrals are handled or how
00:15:20 00:15:25 the fees are handled in this case so per
00:15:23 00:15:27 transaction that i refer out i have to
00:15:25 00:15:29 either pay the commission split that i'm
00:15:27 00:15:31 on so every time that i reset as i'm
00:15:29 00:15:33 working through my 80 20 that is the
00:15:31 00:15:34 split that i'm being assessed you know
00:15:33 00:15:38 what that's fair that's fine that's okay
00:15:34 00:15:41 right but once i cap after that then i'm
00:15:38 00:15:43 paying a fixed transaction fee so if i'm
00:15:41 00:15:45 receiving a small referral fee because
00:15:43 00:15:47 many of the referrals that i give out to
00:15:45 00:15:49 other agents other actual viewers here
00:15:47 00:15:52 of the channel as well i don't charge
00:15:49 00:15:56 all that much i would be paying 250 the
00:15:52 00:15:57 full transaction fee not the proportion
00:15:56 00:15:59 of the referral fee so let's just go
00:15:57 00:16:01 through an example so let's just say
00:15:59 00:16:04 there's a 10 000 commission and i'm only
00:16:01 00:16:06 taking 10 to the transaction that means
00:16:04 00:16:08 that a thousand dollars is coming to me
00:16:06 00:16:10 well if it's an agent outside of exp
00:16:08 00:16:13 realty then i am paying the entire
00:16:10 00:16:16 transaction fee of 250 again keep in
00:16:13 00:16:17 mind this is after i've already capped
00:16:16 00:16:20 so for me that means from the
00:16:17 00:16:22 transaction fee alone 25 goes to the
00:16:20 00:16:24 house after capping you start seeing
00:16:22 00:16:26 kind of what i'm toking about and i
00:16:24 00:16:28 know this is a very unique situation and
00:16:26 00:16:30 i'm in a very privileged situation i am
00:16:28 00:16:34 fully aware of that just giving you the
00:16:30 00:16:36 real life situations that depending on
00:16:34 00:16:38 what type of the business you're focused
00:16:36 00:16:40 on or how you're working your business
00:16:38 00:16:43 there are some fees that are not as
00:16:40 00:16:44 beneficial as if you were in a different
00:16:43 00:16:47 setup but even though that was a big
00:16:44 00:16:49 thing that i focused on i really do take
00:16:47 00:16:52 solace in the fact that i am still
00:16:49 00:16:54 eligible for icon status every single
00:16:52 00:16:56 year that's something that even though
00:16:54 00:16:59 my business is more from the referral
00:16:56 00:17:02 side of the world now it's not something
00:16:59 00:17:05 that is precluding me from reaching that
00:17:02 00:17:07 icon status and allowing me to get
00:17:05 00:17:09 access to those sixteen thousand dollars
00:17:07 00:17:11 in stok but anyway if you're checking
00:17:09 00:17:13 out exp realty with any level of
00:17:11 00:17:15 seriousness check out the link down
00:17:13 00:17:17 below there's the ica there for your
00:17:15 00:17:18 review it's the same independent
00:17:17 00:17:21 contractors agreement that you're going
00:17:18 00:17:22 to be asked to sign before joining so
00:17:21 00:17:24 just do your homework ahead of time and
00:17:22 00:17:25 check out all the details that are
00:17:24 00:17:26 spelled out there and if you're
00:17:25 00:17:28 interested in partnering up and want to
00:17:26 00:17:30 learn how we do your lead generation for
00:17:28 00:17:32 free then check out the other link that
00:17:30 00:17:35 i have down there for you and i'll look
00:17:32 00:17:35 forward to speaking with you soon

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