eXp Realty and REAL are the two largest and most popular cloud brokerages. Not only that, they are also the only two that are available in all 50 states and publicly traded on the NASDAQ.
When I was deciding what cloud-based brokerage I personally wanted to join, eXp Realty or REAL, I dove in pretty deep, researching and talking with agents at several. This article is the product of my intensive research.
So in this article, I want to do a side-by-side comparison of REAL Broker VS eXp Realty to help real estate agents make an educated decision on which cloud-based brokerage to join.
Today we are going to do a side-by-side comparison of the following categories:
- Company Growth
- Commission Cap
- Commission Splits
- Fee’s
- Stock Bonuses
- Revenue Share
- Company Branding
- Core Values
- Technology
NOTE: All numbers & stats were taken from this EXP Realty Presentation and this REAL Presentation. I also get much of this information from the multiple REAL Broker vs eXp Realty Agent Debates I have done.
REAL VS eXp Realty Growth
One thing to consider is the potential growth of these two companies.
As of October 2025, eXp Realty has about 82,000 agents, and REAL has about 30,000 agents.
REAL opened in all 50 states in Q4 of 2023. Interestingly, this is also the first quarter ever that eXp Realty experienced negative growth and they actually ended the quarter with 2,000 agents fewer than at the start of the quarter.
Below is the agent count growth by % for both companies:
eXp Realty
- 2020: eXp Realty agent count grew by 63% to 41,313 source
- 2021: eXp Realty agent Count grew by 72% to 71,137 source
- 2022: eXp Realty agent count grew by 21% to 86,203 source
- 2023: eXp Realty agent count grew by 2% to 87,515 source
- 2024: eXp Realty agent count down 5% year-over-year to 82,980 source
- 2025 : eXp Realty Agent Count up 1% to 83,060 source
REAL Broker
- 2020: REAL agent count grew by 38% to 1,475. source
- 2021: REAL agent count grew by 161% to 3,850 source
- 2022: REAL agent count grew by 113% to 8,200 source
- 2023: REAL agent county grew by 66% to 13,650 source
- 2024: REAL agent count grew by to 77% to 24,140 source
- 2025: REAL agent count grew by 31% to 31,739 source.
2023 also saw the rise of several new and smaller cloud brokerages, such as LPT Realty, which is the cheapest cloud brokerage out there. This could also negatively affect the growth of eXp.
REAL, on the other hand, has been growing rapidly every year for the past 5 years. This is particularly impressive in years like 2023, when many agents were leaving the industry and many brokerages shrank in size.
I think the growth of a company is something important to consider for two reasons.
REAL Broker vs eXp Realty Cap, Splits & Fees
Being that both brokerages are cloud-based, the companies save a huge amount of money every year compared to franchise-based companies and can pass those savings on to their agents in the form of lower commission caps.
eXp Realty has an 80%/20% split with a $16,000 a year cap for solo agents and team leaders. They also offer an $8,000 cap for team members and a $4,000 cap for mega team members.
REAL has an 85/15 split with a $12,000 cap for solo agents and team leaders. They also have a $6,000 cap for team members and a $4,000 cap for mega team members.
On top of its annual cap, EXP Realty also charges:
- $149 Start-Up Fee
- $85 A Month Cloud Brokerage Fee
- $25 Transaction review fee
- $60 Risk Management Fee Per Transaction (Caps at $500)
- $250 Transaction Fee After You Cap
On top of its annual cap, REAL Broker also charges:
- $249 Sign-Up Fee
- $900 Annual Fee ($300 from each of the first three transactions)
- $285 post-cap transaction fee, which drops to $100 per transaction after hitting Elite Agent
- $50 CBR Fee Per Transaction
REAL Broker VS ExP Realty Stock Bonuses
Both companies are publicly traded companies and offer their agents multiple ways to earn free shares of the company by hitting certain milestones in their businesses.
eXp Realty offers its agents 5 ways to earn free stock within the company.
- You earn $200 on your first transaction of each year
- You earn $400 when you cap
- You earn $400 when an agent you sponsor completes their first transaction
- Earn up to $16,000 worth of stock by hitting their Ion Agent Award
- You can put 5% of your commissions towards buying eXp stock and get a 5% discount
REAL Broker offers its agents 5 paths to earning free stock in the company.
- You earn 15 shares of stock by capping each year (7 shares on a $6,000 cap, 5 shares on a $4,000 cap)
- You earn 7 shares of stock when an agent you attract closes their first transaction (3 shares if that agent is on a $6,000 cap, 2 shares on a $4,000 cap)
- You can earn a $12,000 Production Award by hitting the Elite Agent Production Award
- You can earn an additional $8,000 Cultural Award
- With the Stock Purchase Plan, you can put up to 10% of your commissions towards purchasing stock & receive a 10% match before you cap and a 15% match after you cap.
Both brokerages have very similar stock incentive programs. The biggest difference is that REAL Broker’s Elite Agent awards ($12,000 in stock for the Production Awards, plus $8,000 in stock for the separate Cultural Award) are up to $4,000 more a year than eXp Realty’s Icon Agent Award of $16,000
REAL Broker also gives you up to 3x as much free stock with the stock purchase plan as eXp Realty does with their 50% bonus, compared to eXp’s 5% discount. This can add up significantly, especially for high-producing agents.
REAL Broker VS EXP Realty Revenue Share Programs
Revenue share is essentially a company taking their marketing budget and instead of spending it on traditional marketing like ads or billboards, they give that marketing budget back to the agents who are helping grow the company one agent at a time.
eXp Realty Rev Share 2.0 Explained
As of May 2024, eXp Realty has updated its revenue share model significantly. The changes make it easier to unlock tiers but also make it harder to project how much revenue share you can expect to receive. With their new model, instead of a % of an agent’s commission, you get a % of the pool of revenue share eXp pays out each month.
eXp pays out up to 50% of its monthly revenue back to agents in the form of revenue share. Historically, if the amount of revenue share owed that month exceeds 50%, they reduce everyone’s revenue share that month until the amount owed is below 50%. With their new Rev Share 2.0, they will be hitting this upper limit far more often and give you a % of that pool of rev share they pay out.
With eXp Rev Share 2.0, for an agent in your downline, you receive a “Top % Revenue Share Pool On Transactions in Each Tier Group”. So out of the 50% of the monthly revenue share, you will get a % of the total revenue share pool for that tier. Because the “rev share pool” will change each month depending on how many agents are owed rev share, it is hard to project an exact amount of how much you can expect to earn per capping agent.
- Tier 1 = 17.5% of Rev Share Pool
- Tier 2 = 20% of Rev Share Pool
- Tier 3 = 12.5% of Rev Share Pool
- Tier 4 = 7.5% of Rev Share Pool
- Tier 5 = 5% of Rev Share Pool
- Tier 6 = 12.5 of Rev Share Pool
- Tier 7 = 25% of Rev Share Pool
$4,000
With eXp Rev Share 2.0, your first three tiers of benefits are automatically unlocked. You then only need 5 “Front Line Qualifying Agents” to unlock tier 4, 10 to unlock tier 5, 15 to unlock tier 6 and still need 30 to unlock tier 7.
So this does make it easier to unlock tiers and most likely increase the amount of rev share eXp pays out to their agents compared to their Rev Share 1.0 model but this is also going to make it far more common for them to hit that maximum 50% threshold which reduced everyone revenue share. It’s possible they may hit that 50% every month with this new model.
eXp Realty Tier 1 First Year Bonus
eXp Realty is also launching a first-year bonus for tier 1 agents where you will earn 5% of an agent GCI for their first year at eXp. If they pay a full cap, this is a maximum of $4,000.
eXp Realty Assumable Revenue Share Program
At eXp Realty, if you earn revenue share and you pass away, it is possible for your dependent to assume your position in your revenue share network. The person assuming your network will have to become a real estate agent and join eXp Realty.
REAL Broker Revenue Share Program
REAL Broker’s revenue share model is simplified. They have an easy-to-understand 5,4,3,2,1 model where they pay out the most on your tier 1 and the least on your tier 5.
At REAL Broker, for any tier 1 agent you have, you will earn 5% of every commission that agent earns until they cap, which is a maximum of $4,000 a year for a capping agent.
You will earn 4% of every commission for your tier 2 agents until they cap which is a maximum of $3,200 a year, 3% for every tier 3 agent which is a maximum of $2,400 a year, 2% for every tier 4 agent which is up to $1,600 a year and 1% of every tier 5 agent which is a maximum of $800 a year.
Try my REAL Rev Share Calculator to see an estimate of how much you could earn.
Unlocking Tiers at REAL Broker
At REAL Broker, your tier 1 benefits are automatically unlocked and you need to unlock your tier 2 through 5 benefits. There are 3 different paths to unlocking tiers of revenue share.
Tier 1 Agents
You can unlock tiers of revenue share by having producing agents in your tier 1.
- 5 producing agents unlock tier 2
- 15 producing agents unlock tier 3
- 20 producing agents unlock tier 4
- 25 producing agents unlock tier 5
Production
You can unlock tiers of revenue share through your own production.
Full Cap: Unlocks through Tier 3 until your next anniversary date.
Elite Agent: Unlocks through Tier 5 until your next anniversary date.
Network Size
You can unlock tiers of revenue share simply by growing a large network of agents under you.
750 agents total→ Unlock Tiers 1–3
1,000 agents total → Unlock Tiers 1–4
1,500 agents total → Unlock Tiers 1–5
What is a “producing agent”?
At REAL Broker, they define a producing agent for the purpose of unlocking tiers as any agent in good standing with the company who has earned at least $3,000 in commissions in the previous
6 months.
REAL Broker Co-Sponsorship Explained
REAL Broker Revenue Share structure is unique in that they offer “co-sponsorship” where an agent can name 0, 1 or 2 agents as their sponsor in to the company. By doing this, the revenue share earned for those agents will get split between them.
One of the reasons for this program is that often agents are talking to multiple agents at REAL before joining. It is not uncommon for agents to get “analysis paralysis” about who to name as their sponsor, which delays them from joining.
Another benefit is that more agents will receive some revenue share in the company.
REAL Broker’s Willable Revenue Share Explained
REAL Broker’s revenue share is also fully willable. Which means you can designate a recipient who will continue to receive your monthly revenue share if you pass away. This recipient does not have to be a licensed agent and can be a child.
REAL Broker Retirement Plan Explained
At REAL Broker, you are required to be a producing agent yourself in order to receive revenue share. So you must earn at least a $3,000 commission every 6 months to qualify to be a producing agent. These commissions can come in the form of referral checks, team leader splits, rentals or sales.
However, if you are a producing agent for at least 3 years at REAL Broker, you can step out of producing and continue to receive your revenue share indefinitely.
REAL Broker leadership says they want this requirement to ensure the company is full of producing agents, not just full-time recruiters.
REAL vs eXp Revenue Share Differences
When comparing REAL Broker’s revenue share plan to eXp Realty’s, the first thing you’ll notice is that REAL Broker’s is simpler and easier to understand. At REAL, you earn a % of your network’s commissions until they cap, whereas at eXp, you earn a % of the “Revenue Share Pool” which changes from month to month, making it difficult to project how much you will actually earn per agent.
REAL Broker % per tier is simpler to understand, with them paying the most on tier 1 and the least on tier 5.
At eXp Realty, it is easier to unlock tiers with their new Revenue Share 2.0 and you do have the potential of 2 additional tiers REAL Broker does not pay out on.
At REAL, they pay out more on your first 5 tiers than eXp Realty.
I have run a lot of different scenarios on spreadsheets comparing different downlines at REAL and eXp and my findings is that if you have a smaller or medium-sized network, you will probably earn more at REAL than eXp Realty. However, if you have a larger network and unlock your 7th tier, you will probably earn more at eXp Realty than REAL.
A few other things to consider are that REAL Broker offers a genuine Willable Revenue Share where your family members can continue to receive the revenue share you earned after you have passed.
At eXp, they claim to have “willable revenue share” but “assumable” would be a better term to use as they require the person who receives it to be a real estate agent and at eXp Realty. So this means you can’t will it to children like you can at REAL.
Another thing to point out is that the reason why REAL Broker is on average $4,000 a year cheaper for agents is because they eliminated the 7th tier of revenue share eXp offers, which is $4,000 a year. So if you do have a larger network of agents and unlock your 7th tier, you may make more at eXp in revenue share but keep that in mind it is because the agents in your network are being charged more.
REAL Broker VS EXP Realty Company Branding
Another thing to consider is branding. Whatever company you work for, you are going to have to incorporate their name and branding in all of your marketing, signs, advertisements, and business cards. It is important you choose a brand that can integrate with your personal brand well.
This obviously is a matter of personal preference, but take look at the two companies’ branding and decide for yourself which one complements your own branding.
REAL Broker VS eXp Realty Software Included
Fees, stocks, and revenue share are obviously not the only things you should consider when choosing a real estate company. What software and tools they give you is really important in today’s world if you want to remain competitive and have an advantage over other agents in your market.
eXp Realty Software
eXp largely relies on what’s known as “bolt-on technology” where they pay for third-party software and try to integrate it into their ecosystems.
eXp Realty uses SkySlope for transaction management. This is where you will submit your contracts for compliance and review by your broker.
eXp agents can choose their CRM of choice as part of the standard monthly technology fee. In July 2025, agents in the U.S., Puerto Rico, and Canada can choose ONE of three included platforms: BoldTrail, the rebuilt kvCORE platform with updated CRM and marketing tools; Cloze, a relationship-focused CRM built around smart follow-up; or Lofty, an all-in-one CRM and website platform. The choice is locked for 12 months, with limited exceptions for qualifying team switches. Larger teams with 10+ active users may also be able to access Follow Up Boss through the eXp marketplace.
The Hub is eXp’s day-to-day platform for messaging, groups, feeds, company updates, and the App Store. Log in through exprealty.com. After eXp moved off Slack, The Hub became the primary collaboration layer for everyday communication and community.
eXp also has its eXp World software, a proprietary virtual campus where your avatar can join live training, meetings, and support. Think of The Hub as the always-on collaboration layer and eXp World as the campus for immersive live experiences.
REAL Broker Technology
REAL Broker on the other hand, prides itself on being a technology company and building the majority of its software itself. They have over 130+ full-time developers building out their agent-focused technology ecosystems.
reZEN – A back-office and transaction management platform and app that integrates compliance, commission processing, and agent support in one place.
Leo CoPilot – An AI-powered assistant that provides support to agents, analyzing data about their businesses, and eventually aims to handle contracts and client communication.
Real Wallet – A financial hub offering business checking, tax-planning tools, and a rewards program that agents can use to offset fees and caps.
REAL Signature – An in-house digital signature platform integrated into reZEN.
Lofty CRM – Offered through a partnership, providing websites, CRM, and AI-powered marketing tools.
Integrated Services – Through Real Title and Real Mortgage, agents can manage multiple aspects of a transaction within the same digital environment.
By building much of its tech stack in-house, REAL prioritizes integration and innovation, with a particular emphasis on artificial intelligence and financial tools.
REAL vs eXp Core Values
It’s hard to get a feel for a company’s culture and vibe through an article, but one thing you can look for to get a sense of it is what their stated core values are.
eXp Realty Core Values
Community – Be a good neighbor to create a sustainable legacy.
Service – Make a positive change in our company and local community.
Sustainability – Be a good financial steward of the environment, organization, and our families.
Integrity – Do the right thing.
Collaboration – We are all on the same field.
Innovation – The best way to predict the future is to invent it.
Agile – Force chaos and change to survive and grow.
Fun – Don’t take yourself too seriously.
REAL’s Core Values
Work hard. Be kind. – Kindness is a superpower and the fuel that keeps us growing. We stand together in service of our vision and each other.
“We” are bigger than “me”. – Together, we move further and faster toward groundbreaking change in how people buy and sell homes.
Tech x Humanity – The technology we build serves a bigger purpose — to make the entire real estate experience better for agents and consumers.
When comparing the two companies’ core values, REAL seems to be more focused and dialed in with their 3 vs eXp’s 9. I personally resonate with REAL’s focus on being “kind”. You don’t find many companies talking about being kind as a core value of theirs.
Some of eXp’s core values not only confuse me, but actually concern me. For example, “Agile – Force chaos and change to survive and grow.” I don’t personally resonate with intentionally creating chaos in my business and trying to survive. I actually prefer the exact opposite.
Final Thoughts
After reviewing and comparing eXp to REAL Broker, I personally decided to join REAL Broker.
For me, REAL’s technology is more impressive and streamlined than what I have seen at eXp. REAL is more generous with the free stock it provides to its agents. Their revenue share program is more lucrative for the vast majority of agents because they pay out the most at the top and give agents up to 60% of their monthly revenue compared to eXp’s 50%. I also like that REAL Broker is $4,000 a year cheaper on average for agents. This does not just impact me, but also the agents whom I bring into the company.
Also, I personally feel like I resonate with the culture and core values of the company way more.
If you think REAL Broker may be a good fit for you, let’s schedule a 1-on-1 Zoom call with me and talk about how REAL can change your business and answer any of your questions.
REAL vs eXp Q&A
Does REAL or eXp have a higher-producing agent?
A question often asked is which companies’ agents sell more homes? This can have an impact on the culture, training, and brand of a company. The following is based on REAL’s Q3 financial statement and eXp to try and definitely figure out who has the higher-producing agents.
According to these, at the end of Q3 2024, REAL had 21,770 agents and eXp had 85,249.
eXp’s Q3 statement states they did 117,830 transactions in Q3. So that divided by their agent count is an average of 1.38 transactions per agent at eXp
REAL’s Q3 statement states they did 35,832 transactions in Q3. Divide that by agent count and you get an average of 1.64 transactions per agent at REAL
We can look at total volume as well:
eXp did $50.8 billion in volume in Q3. If you divide that by 85,249 agents, that’s an average of volume of $595,901 per agent.
REAL did $14.4 billion in volume in Q3, If you divide that by 21,770 agents, that’s an average volume of $661,460 per agent.
So according to their Q3 2024 statements, REAL broker’s has higher-producing agents who sell more homes and close more in total volume.
Is REAL or eXp Cheaper?
REAL is more affordable in virtually every scenario. This is because REAL’s cap is $4,000 lower than eXp Realty’s cap, and they do not charge monthly fees. In virtually every scenario, agents will save significant money with REAL.
The average agent can expect to save about $4,000 a year by moving to REAL from eXp. If you count the Elite Agent and Icon Agent stock awards as “cash equivalent,” then the average agent who hits these milestones will save about $10,000 a year.
Check out my Cost Comparison Calculator to run different scenarios and see how much REAL’s fees stack up against eXp Realty or other brokerages.
Is REAL or eXp Realty better for teams?
From a strictly cost perspective, team leaders and team members will save a significant amount of money at REAL compared to eXp Realty. If the team leader hits Elite Agent or Icon Agent, the stock-award comparison depends on whether they also earn the Cultural Award. Their team members will save $2,000 a year on their cap, as well as save money in fees, like the $85 monthly fee. Depending on the size of the team, as a whole, they could be saving as much as $20,000 a year at REAL.
If you look at this in regard to revenue share, REAL will pay the team leader significantly more in revenue share for their team members than eXp. REAL will pay that team leader up to $2,000 a year in revenue share for each capping team member. It’s hard to predict an exact amount for eXp, but estimates put it at well below $1,000 a year for each member with their Rev Share 2.0. The team members will almost certainly make significantly more rev share at REAL than eXp, since REAL pays more per agent. This can help the team leader with agent retention.
In terms of stock awards, REAL’s stock purchase program gives agents a 10% match before they cap and a 15% match after they cap, while eXp only gives its agents a 5% discount. This means both the team leader and the team members will receive more free stock at REAL. With both companies’ 3-year vesting period, this can also help team leaders with agent retention. REAL’s Elite Agent award is $8,000 more in free stock than eXp’s Icon award, which will lead to even more savings for the team leader.
REAL’s ProTeams software allows team leaders to have complete flexibility and control over how they structure their team splits and fees. They initiate caps within a team, adjust the % split with the team leader down to the agent level, and choose what fees are paid by the team leader, vs the team members. Listen to REAL’s VP of Growth talk about ProTeams here.
Is REAL or eXp Realty Growing Faster?
REAL is the fastest-growing publicly traded brokerage in North America. Even in years where the industry as a whole is losing agents and most brokerages are contracting, REAL has continued to grow. In 2024, REAL grew by agent count 77%.
eXp Realty saw massive growth from 2020 to 2023. However, at the time of this writing, eXp Realty has reported negative agent growth every quarter for 8 quarters in a row. In 2024, their agent count dropped by 5%.
