Are you in real estate and looking to hang your license with a top brokerage?
After asking around and doing some light research, you’re probably eyeing two options.
And most likely, those two options are eXp Realty and Keller Williams, as they are both leading brokerages in the country.
Both are very successful brokerages that have endured the test of time thanks to their solid business models.
However, there are a lot of distinctions between the two, so it’s worthwhile to look at them.
That’s what we’re going to be exploring in this post!
Let’s look at these real estate companies’ revenue opportunities, team structures, communities, training options, and technologies.
This might just be the post that will help you discover which brokerage will boost your real estate career.
eXp Realty Vs Keller Williams – Brief Histories
eXp Realty’s Origins
In 2009, eXp Realty was established with the daring idea of revolutionizing the real estate sector.
Glenn Sanford established it, and it is seen as the antithesis of how conventional brokerages work.
The company does away with physical offices and provides agents with substantial commission arrangements.
No agent pays more than 20%!
Their setup allows people to work from home or wherever they choose.
It also gives them the freedom to collaborate with their agent partners on revenue and equity prospects.
Since its founding, eXp Realty has developed into a global organization with more than 59,000 agents in more than 16 different nations.
It has also been acknowledged as one of the residential and commercial real estate firms with the quickest rate of growth in the industry’s history.
Keller Williams’ Origins
Gary Keller and Joe Williams founded Keller Williams in 1983.
With only a few agents at first, the agency quickly expanded to become Austin’s largest single office brokerage.
It also became the market’s tenth-largest firm in merely two years!
After battling the 1986 stock market collapse, Gary Keller and his group completely revamped the Keller Williams business strategy.
They began by concentrating on the agents, offering them opportunities to evolve into business partners through the profit share program.
Their agents were then encouraged to participate in the expansion of the business.
They established the Agent Leadership Counsel within a few years to begin taking strides for the business.
They started opening franchises in various locations in 1991.
Then Gary Keller published two hot real estate books, which served as great publicity for the company.
That move increased Keller Williams’ influence within the industry.
In 2012, the brokerage officially went global.
At the time of this writing, Keller Williams has an agent count of over 188,000 and is still expanding.
Related Reading: Best eXp Realty Sponsors – Get To Know Here.
eXp Realty Vs Keller Williams: Their Key Differences
The obvious competition between eXp Realty and Keller Williams has real estate industry insiders talking.
It’s not surprising that there is a wealth of facts and false information circulating among real estate fans.
But given all the false information, how can one come to an intelligent decision?
We’ll have to put these two brokerages under the microscope.
There are no franchises at eXp Realty.
So, regardless of where an agent is located, all fees are the same.
The commission split is 80/20, meaning the eXp Realty agent receives 80% of the revenue, and the brokerage receives 20%.
The cap is set at $16,000. If exceeded, an agent is entitled to get the entire commission split.
What does this mean?
The commission split does increase to 100%.
However, there is a $250 transaction charge that the agent must pay on each deal after they’ve reached their cap.
This transaction fee has a $5,000 maximum and drops to $75 for the remainder of the year.
Agents also spend an additional $25 for a broker review on each transaction and $40 for E&O insurance in addition to the split.
Please note that the E&O fee has a cap of $500 per year.
You must pay an additional $85 a month at eXp in addition to transaction costs to gain access to the network, technology, and training.
Since eXp operates exclusively online, the company lacks any physical offices.
All of its agents, however, have free access to all Regus locations globally.
In A Nutshell: eXp Realty’s Revenue Share Model
eXp Realty has chosen this particular model over others. Why?
According to this strategy, the business splits each transaction’s revenue in half before deducting costs.
This implies that if an agent accomplishes a sale and contributes to Company Dollars, they can make money by “sponsoring” new agents into eXp.
In contrast to eXp Realty, Keller Williams is a franchise brokerage.
This means that there are numerous franchises spread out globally.
So, each one may run a little bit differently depending on the leadership, resources, and local market.
Because of these nuances, we’ll have to generalize a bit. The following is KW’s basic model:
The typical commission split for Keller Williams’ agents is 70/30. KW uses a “cap model,” whereby the agent switches to a 100% compensation plan after a particular sum of money has been paid to the brokerage.
A typical cap is $18,000, though franchises may have different caps.
Additionally, Keller Williams agents pay a 6% royalty charge, with a yearly ceiling of $3,000, that goes straight to the brokerage.
Depending on the franchise, each transaction’s E&O insurance price typically costs between $40 and $75.
Desk fees at Keller Williams are optional and vary significantly by franchise.
In order to make up for the lack of desk costs, the brokerage does charge a monthly fee.
This amount fluctuates and often ranges between $37 and $125 each month.
Since franchise owners need the freedom to entice new agents to join, there is a wide range of setups available.
In A Nutshell: Keller Williams’ Profit Share Model
When a brokerage works in profit sharing, it returns agent commissions to the sponsored agents.
It sounds like a good deal until you discover that they only split after all costs have been deducted from revenue.
I’m talking about rent, insurance, utilities, and so on.
In this approach, an agent may perform well, but there is no real profit-sharing if the office or franchise is not successful.
In order for the agent and the brokerage to succeed, Keller Williams uses this approach, which they define as a critical element of their growth.
Since eXp Realty is the more cutting-edge real estate company in the industry, its training program is continuously developing.
The majority of eXp Realty’s training is conducted within its virtual workplace, eXp World.
Today, agents can participate in approximately 50 hours of live training from the convenience of their own homes each week.
High-achieving agents, corporate trainers, and team leaders from all over the US conduct these weekly training sessions.
Some training courses take place regularly every week, while others are one-time sessions that concentrate on a specific subject.
Every Sunday night, eXp provides a schedule containing the entire week’s worth of topics to be covered.
Agents can schedule meetings in eXp World on their computers or listen in whenever they want to with the eXp World mobile app.
If you’ve been in the real estate world for a while, you’ll know Keller Williams as the premier training brokerage around.
As I mentioned before, the brokerage’s influence skyrocketed because of their published books.
In fact, their Millionaire Real Estate Agent manual (published in 2004) is still considered an agent’s “bible.”
Since then, Keller Williams has developed a number of training programs, including Ignite, Maps Coaching, and BOLD.
Ignite is their official training program, which is designed as a 90-day launch window for new agents.
This course is often offered at set periods throughout the year at local gathering centers.
Although it primarily consists of Keller Williams agents, other brokerage agents have been permitted to participate based on the market center’s team leader.
Maps Coaching is supplementary training that agents can enroll in to help them advance their businesses.
The agent usually has to pay extra for this tutelage.
Nowadays, On Demand, Breakthrough, Mastery, Group Coaching, and BOLD are the five coaching options offered by Maps.
The most popular of them would be BOLD (Business Objective, a Life by Design.
The way BOLD is set up is meant to address perhaps the biggest obstacle that agents have to overcome: prospecting.
Both fresh and experienced agents are welcome in this session.
It will offer tools, instructions, scripts, and group accountability to improve your overall performance in the field.
Related Reading: Why I Left eXp Realty – What People Want To Know.
An eXp Realty team is organized in a pretty straightforward way.
Agents collaborate closely and operate as one “team.”
They split revenues from the agreements they close together as well as leads and client info.
This can be a good fit for you if you prefer to coach others or support colleagues during trying times.
This setup can also be ideal if you’re going to need coaching yourself.
Agents are free to create their own teams and decide how to divide profits their way. However, this is discouraged unless they absolutely know what they’re doing.
What An eXp Team Leader Does
Each team has a leader to make decisions and resolve conflicts.
So, it follows that the agent in charge of your team needs to be someone you can depend on.
Any agent in the team who has demonstrated success and reliability and has a variety of levels of experience in real estate brokerage business operations may assume this role.
With its comprehensive “team” concept, Keller Williams Realty stands out from other brokerages.
As a KW agent, you have the option to be a part of a Gold Team or a developing Blue Team.
Blue Teams will eventually become Gold Teams with enough time and effort from its members.
The drawback with having so many people working together is that there might be more competition.
But if everyone is efficient and committed, success is pretty much inevitable.
What A Keller Williams Team Leader Does
A Blue team’s leadership position is up for grabs to anyone who has what it takes.
Depending on the situation and the task at hand, they may be chosen or appointed.
If you’re willing to work hard enough, there are several benefits to taking on this role.
Every business needs a leader who will oversee operations and guide its sales representatives as they become top earners.
This can imply that they have had executive roles in different fields or even just have some life lessons to share from their own experiences.
Community and Culture
The goal of eXp Realty is to improve the real estate agent experience.
Thanks to the online eXp World and eXp Workplace platforms, agents can connect with others from across the world.
eXp Realty is a brokerage on a global scale!
ONE eXp is a diversity and inclusion project that offers agents help and education on issues related to diversity.
Plus, to guarantee that every agent’s opinion is heard, the Agent Advisory Council provides leadership with agent perspective.
In order to promote participation, eXp also organizes events for the community throughout the year.
There’s the three-day conference-style EXPCON and the training and business-growth Shareholder Summit.
Additionally, eXp agents are encouraged to work toward the ICON award by achieving particular cultural and transactional objectives inside the organization.
The ICON award enables agents to thrive financially and culturally in the business.
Keller Williams has consistently been ranked as one of the top businesses that advocate for work-life balance in the US.
The company encourages agents to put their families and community ties ahead of their careers.
Every year in May (the second Thursday), Keller Williams agents take part in RED Day.
It’s a worldwide day of volunteerism and community service where agents give their time to “Renew, Energize, and Donate.”
For several years running, Keller Williams has also been ranked as one of the best workplaces for women and diversity.
Its Agent Leadership Council is committed to promoting agent participation in the selection of leaders and decision-making for the brokerage.
Last but not least, the brokerage organizes two sizable gatherings every year to bring agents together.
There’s the Mega Camp, which invites agents in for training and networking.
There’s also the “Family Reunion,” which provides conference-style sessions from leading agents worldwide.
Since eXp Realty was formed and is run completely online, it’s no wonder that it’s one of the most cutting-edge real estate brokerages out there.
Agents who join eXp are required to join and operate within:
This is the virtual office environment where agents interact with one another and receive training.
This is the virtual hub where agents can keep track of their analytics, like earnings, stock shares, transactions, etc.
This is a Facebook-powered app where agents can swap tips and tricks with others and engage socially.
This is eXp Realty’s online transaction management software that simplifies digital signing and related paperwork.
This is an app that agents use to connect with clients and offer them excellent loan options.
This is a comprehensive CRM that allows agents to make landing pages, squeeze pages, and entire websites, all while monitoring their leads.
eXp 360 Tours
This feature allows agents to create memorable virtual tours for their properties.
This is a partnership that gives agents the freedom to come up with a brand-personalized website to give their clients access to nearby utility services.
There is no denying that eXp has a ton of technology.
And despite the fact that it may seem intimidating at first, it keeps up with the most recent developments in the real estate industry.
The Keller Cloud, a collection of tools aimed at assisting agents in maintaining business organization, is where agents work.
It consists of Command, a sophisticated CRM, and Consumer, a client-facing software that more effectively connects agents and clients through virtual tours and easy communication.
Related Reading: Is eXp Realty A Pyramid Scheme – Click Here To Find Out.
Why Go With eXp Realty
Consider joining eXp Realty if you want to advance to the position of real estate team leader quickly.
This is because they have an easy certification process for team leaders and care about your performance.
They assist agents in collaborating effectively with one another, which is unique among brokerages.
Leads are fed from six distribution hubs in the US into an online database of more than five million homes.
So, before personally visiting a home, real estate agents can view it online, and they immediately have leads.
Additionally, eXp Realty offers systems that let one agent engage with previous clients even in remote locations, which helps them develop more quickly.
It shouldn’t be a problem, even if your goal is to sell houses in several states across the US.
Why Go With Keller Williams
The Keller Williams interdependent model is intended for the agent who genuinely wants to run their own real estate business.
Their associates are consistently professional and equipped to learn how to adapt to the current market.
The company places a strong emphasis on agent training and continues to master it.
So essentially, this model is constantly changing to allow business owners to be successful during booms, crashes, and other economic fluctuations.
Related Reading: The Dave Ramsey eXp Realty Feud – Check Out Here
Final Thoughts – eXp Realty Vs Keller Williams
If you’re still unsure about which one to go with, it can’t hurt to check out their company reviews.
Both offer fantastic possibilities for real estate agents to interact with one another, generate income, take part in high-quality training, get acquainted with new technology, and eventually retire in comfort.