The minimum commission EXP Realty will allow you to charge for friends, family, personal and flips
Maybe you are a house flipper or sell your own rental properties from time to time, and you’re wondering what the minimum commissions you can charge are at eXp. Here is a quick video cutting through the noise on what that looks like at eXp!
At eXp, you have an 80/20 split on commission revenue until you cap at $16,000. That number drops to $8,000 if you are on a team or $4,000 if you are on a mega team. Once you hit that revenue into the company, you have capped.
If you have not capped:
If you have not capped yet, the minimum commission you can charge is $565. Out of that, $500 goes toward your cap directly. With that small of a commission, all $500 goes to eXp. The broker review fee that is on every transaction is $25. E & O is $40 for every deal until you reach a $500 max in E & O then you cap in that as well. Assuming you have not capped on your E & O yet, that brings you to $565.
If this is your own home, you can charge $315. You get three of these for every capping period. The $500 is waived in this case. Instead, you are just paying a capped transaction fee that is $250. You still pay your $40 E & O and $25 broker review fee. Again, you can do three of these if you own the house in some way.
If you have capped:
If you have capped, the minimum you can charge is $315. It is the same as the scenario described above. It is a capped transaction fee of $250. You pay your $40 E & O and $25 broker review fee.
The transaction fees go down after you pay $5000 in transaction fees. After 20 transactions, you cap. After you cap in this, it gets even cheaper. Now the transaction fee goes down from the $250 transaction fee to $75. At this point, you have probably have capped on your E & O as well. Realistically, at this point, you have a minimum of around $100 a deal.
One piece of advice, if you are doing a lot of flips, you would want to do your three personal deals as the very first of the year. You would do this because you would be able to do the $315 when you have not capped yet. Otherwise, they would be $565. This is definitely a way to save a little money here.
The simple answer is that eXp is a really great place to flip! This is all true buy or sell-side for the fee structure.
Happy to answer any questions and help further on this!