Let me guess, you’ve stumbled across eXp Realty on social media or email, or someone recommended it to you, and now you want to know; is eXp Realty a scam? Or is it a legitimate company?
Fortunately, you’ve just landed at the perfect place where I’m going to review this company and show you all the facts you need to know before joining it.
I’d like to congratulate you first for taking the time to do a bit of research before joining eXp Realty. This is because there are too many scams online, and doing your research like you’re doing here is a pretty wise move that will save you from frauds.
Indeed, this is the only way you’ll find a real legit way to make money online.
eXp Realty Review Summary
Product Name: eXp Realty
Price: $149, plus $85 per month, plus $25 and $40
eXp Realty is a network marketing company that promotes a real estate opportunity. It allows people to join as real estate agents where they can earn by promoting their real estate properties. At the same time, you can earn residual commissions for recruiting new agents into your downline. However, I wouldn’t recommend this program to you, especially if you’re looking for ways to make a good income online. This is because it requires too much work on your part when it comes to building your network and making sales. Besides, you can hardly make a significant income here if you aren’t already experienced in real estate business and recruiting. Read my full eXp Realty review to find out all the facts…
I’d like to be completely transparent with you, and so, I want to tell you that I’m personally not associated with eXp Realty in any way. Therefore, I’m won’t try to recommend this program to you unless, of course, it’s really worth your time and investment.
Instead, I’m going to give you an exhaustive and unbiased third party eXp Realty review to help you make a rightful decision in the end.
So, is eXp Realty, a scam, or a legitimate company? Can you make money with their opportunity? Or is it just a waste of time?
Follow me into the review and pay close attention to understand everything clearly as I reveal all the facts I found in my research about this company…
What is eXp Realty
eXp Realty is a Multi-Level Marketing (MLM) company that operates as a real estate brokerage that’s cloud-based. It was established back in 2009, meaning that it’s been around for about a decade now.
Since the company is cloud-based, they have professionals who help their clients through their 24/7 virtual office. This is different from normal cases where companies have physical offices in specified locations.
With that said, eXp Realty seems to be the first company of its kind because of setting up a virtual office for their agents and clients to meet. The clients and agents can log in to their virtual office and explore a property.
Besides, the company offers a chance for people to make money through its MLM business opportunity. You can earn money in several ways as an agent of this company, as we’ll see in their compensation plan, which I’ll show you in a minute.
eXp Realty doesn’t provide any information regarding how the company started or even who founded it. However, the company aims to help clients find properties for commercial or residential use.
Now, let me take you through the next section of my eXp Realty review and show you how this company really works.
How eXp Realty Works
First, this company doesn’t have any tangible products to sell, but it does have a service. It offers an online system that allows real estate agents to join and make money by helping clients to find properties for residential or commercial purposes.
It’s good to note there’s a fee associated with becoming a real estate agent of eXp Realty, which includes an initial fee plus other fees that are even recurring.
Once you become an agent, you’ll get access to their training tools and resources that include training from guest speakers, mastermind sessions, workshops, a huge library of training videos, lead generation and management tools, and 20-25 weekly training hours.
With all that training and resources, I think paying quite an amount of cash could be worth it. However, we can’t tell this for sure until we hear from their real users and weigh all the facts. Don’t worry; I’ll show you everything there is to know about eXp Realty. But, for now, let’s see how you can make money with their opportunity as per their compensation plan.
How Can You Make Money With eXp Realty
Well, since eXp Realty operates within the real estate industry, you’ll need to have a good knowledge of how this industry works. Then, you can make money in two main ways as a member of their MLM program, which includes:
⦁ Selling properties to earn commissions, and
⦁ Recruiting other people into your downline for residual commissions.
You’re going to be rewarded according to the company’s compensation plan, which I’ll explain to you in a sec.
eXp Realty Compensation Plan
eXp Realty’s compensation plan pays agents through some form of residual commissions. If you join the program, you’ll have the potential to earn 80/20 split commissions and $50 monthly resource and technology investment.
In the 80/20 split, you’ll earn 80% of the commissions, and the other 20% goes to the company. This is what eXp Realty uses to fund the company marketing and other operational expenses, as well as pay agents’ residual income through their revenue sharing program.
These commissions are capped at $16,000. After you reach this $16K cap, you’ll earn 100 percent commissions for the remaining period of your anniversary year with eXp Realty. You’ll be required to pay a transaction fee of $250 to receive these commissions.
Let’s now have a look at the revenue sharing program offered by this company.
Cascading Revenue Share Program
This is a revenue share program that allows you to earn commissions on two tiers, meaning that you can earn from the agents that you personally recruited into the company.Your maximum earnings per year are equal to $4,000 and are capped up to seven tier levels down.
Besides, your potential earnings depend on the number of agents in your downline, which determines your tier. Below are the tier earnings and their requirements:
⦁ TIER ONE – Requires 1+ agents and potential income goes up to $2,800
⦁ TIER TWO – Requires 5+ agents and potential income goes up to $3,200
⦁ TIER THREE – Requires 10+ agents and potential income goes up to $2,000
⦁ TIER FOUR – Requires 15+ agents and potential income goes up to $1,200
⦁ TIER FIVE – Requires 20+ agents and potential income goes up to $800
⦁ TIER SIX – Requires 25+ agents and potential income goes up to $2,000
⦁ TIER SEVEN – Requires 40+ agents and potential income goes up to $4,000
As you can see, the potential income increases with an increase in the number of agents you have in your downline.That’s all about the compensation plan of eXp Realty, and you can watch the video below that I found on Youtube (channels name: Smart Agent Life powered by eXp Realty) that will explain you everything.
Now, I know you might be wondering; how much does it cost to join this business opportunity? Well, this is what I’m going to show you next in this eXp Realty review, so please keep reading.
eXp Realty Pricing
To become a real estate agent of eXp Realty, you’re required to pay a start-up fee of $149, plus other additional fees that include:
⦁ $50 Monthly Fee
⦁ $35 Monthly eXp University Fee
⦁ A Broker Fee of $25
⦁ A Risk Management Fee of $40
Then, if you’re earning 100% commissions rather than the 80/20 split, you’ll need to pay a transaction fee of $250. These transaction fees are capped at $5,000, after which they are reduced to 75 percent.
That’s all about the costs involved in becoming a member of eXp Realty. Next, we’re going to look at the positive and negative things about this company.
GOOD VS BAD
⦁ It’s a unique MLM with a new approach in the real estate industry.
⦁ It has been in business for about a decade now (at the time of this writing).
⦁ It seems convenient for users since it’s all cloud-based and easily accessible 24/7.
⦁ It offers continuing education perks and training resources for agents.
⦁ No owner or company background information is provided on their website.
⦁ Too much focus on recruitment.
⦁ Many different fees and even recurring ones.
⦁ High start-up cost.
⦁ No help for new agents.
eXp Realty Owners
As earlier mentioned, the eXp Realty website doesn’t provide any background information regarding the company. This means that there’s no way to tell who owns or runs the company, or even how it was established.
However, according to WHOIS.com , the eXp Realty LLC website domain was registered on 22nd July 2009, and the last update was on 8th July 2019. The registrant is based in Washington, in the United States.
With that said, I couldn’t find any information about the owner of this company. This raises a question in my mind; why are the owners hiding? Wouldn’t they want to be recognized for creating such a huge company and helping people?
Honestly, this is not a good sign for any company because it shows that the owners might be hiding even more things from their members and the public. It also shows that the company isn’t being trustworthy and might be having hidden agendas behind the scenes.
Don’t get me wrong! I’m not saying that eXp Realty is doing shady things behind the scenes. I just want to tell you that you should be more cautious when deciding to work with such companies that hide their owners’ info.
Now, I’d like to show you what the real members of this company are saying and their complaints. So, let’s move on to the next section of my eXp Realty review…
What Are eXp Realty’s Users Saying
There are numerous mixed reviews of eXp Realty online, and the positive ones seem to outweigh the negative ones.
The BBB does not accredit the company, and it has a C rating at the time of this writing. There are only two complaints closed in the last 3 years. Some realtors complained about how the company uses its compensation plan to make money off its realtors.
When you take a tour to Indeed.com, you’ll see that eXp Realty has 222 reviews with an overall rating of 4.3 out of 5. On GlassDoor, this company has 372 reviews with an overall rating of 4.3 again. Below are what some users were saying.
While some agents think eXp Realty is a great company to work with, others think it’s not for new agents. This is because there’s no accountability in the management, and no one is there to help the new agents.
Some even left…
Overall, as I said, the company seems to have more positive reviews than negative ones. This implies that eXp Realty could be a good real estate brokerage to join.
However, this doesn’t mean you should rush and join the company. Let me reveal a few ugly facts about this company so you can have a clear picture of how it really works.
eXp Realty’s Ugly Truths Revealed
1. The 80/20 Commission Splits!
According to eXp Realty’s compensation plan, you aren’t going to get 100% of the commissions generated by the sales you make. As I mentioned earlier, 20 percent of these commissions will be used to fund the company and pay the residual commissions.
You’ll only receive the full 100% after reaching the $16K cap, after which you’ll be charged $250 transaction fees. This means you’ll need to recruit so many people to make up for the sales.
And as you probably know, recruiting is a very difficult task that will need you to have certain skills and also takes a lot of time. This could make it hard for you to make a decent income in this company, and this is why most people will likely fail, as discussed below.
2. Many People Are Likely To Fail!
Although eXp Realty doesn’t provide their income disclosure statement, most people will likely fail. This especially goes to the new agents who have no prior experience in real estate business and recruiting.
Yes, the company offers some training to its members. But, this is not enough to help a newbie in the field to make any good money. Furthermore, they don’t seem to provide any assistance to new agents, as we saw their real users saying above.
If you don’t know how to sell their real estate agent services and how to recruit tons of people, then you’re most likely to fail here. This goes to the majority of people who join this company, and it means that only a few people who are at the top of the pyramid will make some decent income.
However, this is very normal when it comes to MLM companies. You’ll find that over 95% of their participants fail, and only less than 5% make a considerable income. Just look at these related MLM’s, and you’ll know that I’m telling the truth:
3. Too Much Focus On Recruitment!
eXp Realty seems to place a lot of emphasis on recruitment to encourage their members to build a strong team for selling the properties. As an agent, you’re compensated with residual income from the new members you recruit into the program.
Additionally, recruiting is the only way that can bring you money without you directly making property sales to clients.
Now, I know this might make you wonder; is eXp Realty a pyramid scheme? Well, I’m going to answer this question in the next section of my eXp Realty review, so please keep reading…
Are You Tired Of Scams?
Is eXp Realty A Pyramid Scheme
When a company relies too much on recruitment, it makes you think that it’s a pyramid/Ponzi scheme. And this is the same case with eXp Realty.
However, eXp Realty is not a pyramid scheme in disguise because it has a service for its members to promote. Agents can make money by selling the real estate properties offered by the company.
Besides, the only way to make a huge income fast with this opportunity is to recruit tons of people into your downline. They reward their agents through residual commissions from the income made by their downline teams.
This, however, doesn’t make eXp Realty a pyramid/Ponzi scheme. It’s just like most other MLM companies that sell their products/services through the MLM program. I hope you get it clear now…
Finally, let’s see whether eXp Realty is a scam or not.
Is eXp Realty A Scam
The primary aim of any eXp Realty review (including this one) is to answer the question: Is eXp Realty a scam? So, that’s what I’m going to answer now.
eXp Realty is not a scam but a legitimate real estate brokerage that’s all cloud-based. Though the BBB and the rating do not accredit it is rather low (C), I don’t think it’s a scam since its positive reviews seem to outweigh the negative ones.
The company has been operating for about a decade now, and it definitely would have been closed down if it were a scam or illegal pyramid scheme. Furthermore, it offers some good training and workshops that could be a great advantage for those who join the company.
However, overall, I wouldn’t recommend you to join the eXp Realty MLM business opportunity that revolves around real-estate services. I agree that it’s a well-established MLM company that’s legitimate, and people have made money with it.
But, unless you have good recruiting skills and a good understanding of how the real-estate business works, you’ll find it very hard to make a significant income here. This is because the only way to earn you a decent income is recruiting as it’s not easy to find new clients to sell the properties to.
Again, recruiting is a difficult thing in itself, and you won’t make it unless you know how to do it well.
As a new real estate agent, you’ll barely find any assistance, and this could deter you from succeeding or delay your success. Furthermore, it can be very stressful to handle all the work involved, including training, sales, and recruitment, among other things.
To be frank, MLM is a very difficult and risky business model to involve yourself in. You’ll risk not only your effort and time but also your cash. That’s why I don’t recommend this model and eXp Realty for that matter.
I honestly hope that my eXp Realty review has given you all the information you needed to know about this company. With this information, I believe you’ll be able to make a rightful final decision regarding eXp Realty.
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Thanks a lot for taking the time to read my in-depth and unbiased eXp Realty review. I honestly hope that it has helped you to clarify all the things you looking for.
What are your thoughts about eXp Realty and this review? Do you have any experience with this company? Do you think eXp Realty is a scam? Or do you have any questions or concerns? I’d love to hear them, so please drop them in the comment section below.
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