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!

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