eXp Realty for New Agents: Public Facts and Questions to Ask
Short answer. eXp Realty is a cloud-based brokerage run by the public company eXp World Holdings. Its 2025 annual report says it has over 83,000 agents and pays commission through a model with low entry fees and a revenue share plan. This page lists public facts and questions to ask. It does not rank brokerages.
The short version
A new agent in Texas has many brokerages to compare. This page collects public facts about eXp Realty so you can compare it with any other brokerage on the same terms.
We do not give an opinion on eXp Realty. We use the company's own filing and website, and we label each fact with its source and check date. The Bauer Group is also a brokerage, so we compete with eXp Realty. Read with that in mind.
Education only, not legal, tax or financial advice. Confirm licensing rules with TREC.
Public facts table
All rows come from eXp World Holdings' annual report (Form 10-K for 2025, filed February 24, 2026) or from the company's website. We checked them on October 14, 2026.
| Topic | What the company published |
|---|---|
| Company | eXp World Holdings, Inc., a Delaware corporation and a public company |
| Headquarters | Bellingham, Washington, as listed on the cover of the 10-K and on the company website |
| Agents | The 10-K says "over 83,000 real estate agents" as of December 31, 2025 |
| Reach | The 10-K says its North American Realty segment covers all 50 U.S. states and all Canadian provinces, and its International Realty segment operates in 27 countries |
| Model | The 10-K describes a model with "low entry fees" and a "revenue-sharing plan through which agents and brokers can earn commission" |
| Stock | The 10-K says agents and brokers have "stock ownership opportunities" and the company offers equity awards to agents |
| Texas | The company website lists a designated managing broker for Texas operations |
How this type of brokerage works
eXp Realty is usually grouped with cloud brokerages. In this model agents often work remotely and meet in virtual offices instead of a local office. Features vary by company and by office or team, so check each one.
Many cloud brokerages also describe a revenue share program. In general, an agent who brings other agents to the company may earn a share of the company's income from those agents' sales. The exact terms are set by the company, so read its current written terms.
Our guide on types of brokerages and their trade-offs compares this model with others.
What the company says about its own risks
Public companies must list risks in the 10-K. Three of eXp's lines are about how agents are paid and kept. We quote them as written.
- On pay structure, the 10-K says the company "pays under a multi-tiered compensation structure similar in some respects to network marketing."
- On regulation, it says "Network marketing is subject to intense government scrutiny and regulation."
- On agents, it says the company "may be unable to attract, retain, and incentivize qualified real estate professionals."
What agents and reviewers say
Review data was limited when this page was written. We could not load a public review source that allows reading, so we are not reporting review counts, scores or quotes. We will not guess what agents think.
To hear from real agents, ask the brokerage for two or three agents in your market who joined in the last year. Ask each what surprised them. Ask the same of every brokerage you compare.
Questions to ask before you decide
These are our planning questions, not TREC rules. Ask every brokerage the same ones.
- What is every fee, and when is each one due? Ask for the current fee list in writing.
- How is my commission paid, and how fast after closing?
- Is there a cap, and what happens after I reach it?
- How does the revenue share or sponsor program work, and do I need to take part?
- Who answers my contract questions in Texas, and how quickly?
- What training is there for a new agent in the first 90 days?
- How do leads reach agents, if at all? Ask for it in writing.
- What happens to my pending deals if I leave?
How to read a public company filing as an agent
A 10-K is written for investors, not for agents. It still tells you things about how a company describes itself. Here is how to use one when you compare brokerages.
Start with Item 1, the business section. It says how the company makes money and how it pays agents. Then read Item 1A, the risk factors. These are the risks the company itself chose to list. A risk line is not a finding of fault. Every public company lists risks, and the same kind of wording appears in many filings.
Next, look for what is missing. A 10-K often leaves out the details you need as an agent, such as splits, caps and monthly fees. Those usually sit on the company's joining page or in the agent agreement. Ask for them in writing and keep a copy.
- Item 1 (Business): how the company says it earns and pays.
- Item 1A (Risk factors): risks the company chose to list.
- Cover page: legal name, state of incorporation and address.
- Agent and office counts: look for the date they are as of.
A side by side worksheet
Fill in this table for eXp Realty and for every other brokerage on your list. Use the company's written answers. This is our own planning tool, not a TREC form.
| Question | Brokerage A | Brokerage B |
|---|---|---|
| Every fee I would pay, and when | ||
| Commission split or cap, as the company publishes it | ||
| How the revenue share or sponsor program works, if any | ||
| How and when I am paid after closing | ||
| Training in my first 90 days | ||
| Who answers contract questions | ||
| What happens to my deals if I leave |
Who may want to look closer, and who may want to compare more
We do not say who should join any brokerage. These are questions that help you decide for yourself.
You may want to look closer at a cloud model if you are comfortable working remotely and learning through online meetings. Ask yourself how you learn best and what support you need in your first year.
You may want to compare more if you want an office to walk into, a mentor next to you, or a local team. Ask yourself where you will get answers on a hard contract at 6 p.m. on a Friday.
Whatever the model, check that you understand how any revenue share plan works before you rely on it. Ask what you pay, what you earn and what the company does not promise.
How we wrote this
Sources: the eXp World Holdings Form 10-K for 2025 on SEC EDGAR and the company website, both checked October 14, 2026. The company's joining and fee pages did not load, so we do not state any commission split, cap or fee.
Experiences vary by office and team. If you see an error, write to agents@joinbauergroup.com. We apply corrections within 2 business days.
Comparing options?
Ask any brokerage the same questions. Our guides on choosing a brokerage in Texas and what a sponsoring broker does can help you set up your list.
Common questions
What kind of brokerage is eXp Realty?
It is a cloud-based brokerage owned by the public company eXp World Holdings. Its annual report describes low entry fees and a revenue sharing plan.
How many agents does eXp Realty have?
The company's 10-K for 2025 says it had over 83,000 real estate agents as of December 31, 2025.
Where is eXp Realty based?
The 10-K lists its headquarters in Bellingham, Washington. Agents work in many states, including Texas.
What does eXp Realty charge agents?
We could not load the company's current fee page, so we do not state fees. Ask the company for its written fee list.
Is eXp Realty good for new agents?
That depends on what you need. We do not rank brokerages. Use the questions on this page to compare it with others.
Sources
- SEC EDGAR: eXp World Holdings Form 10-K for 2025, filed February 24, 2026 (checked October 14, 2026)
- eXp Realty company website (checked October 14, 2026)
Education only. Not legal, tax or financial advice. Confirm licensing rules with the Texas Real Estate Commission. Results vary and depend on effort, market and lead performance.