# eXp Model Overview — UK Edition

## What Is eXp?

The world's largest independent estate agency. Cloud-based, agent-centric, operating in 24+ countries with 87,000+ agents globally. Founded by Glenn Sanford in 2009 (US), launched in UK in 2019 by Adam Day.

## The Problem It Solves

Traditional estate agency has structural problems:
- **No equity** — you build someone else's brand
- **No retirement plan** — income stops when you stop
- **High overheads** — office rent, desk fees, staff costs eat into margins
- **Team members become competitors** — you train someone, they leave and compete against you
- **Two income buckets only** — listings and sales, nothing else

## Five Buckets of Income

### 1. Listings & Sales (same as always)
70/30 split with eXp until you hit the £24,000 annual cap. After cap: 100% commission (less £250 transaction fee, reducing to £100 after 50 deals or £400k GCI).

### 2. Stock Ownership
Earn EXPI shares through milestones:
- £160 stock on first sale completing
- £320 stock when you cap
- £320 stock for attracting another agent (after their first sale)
- ICON Award: up to £16,000 in stock for top producers

### 3. Dividends
As a shareholder in eXp World Holdings (EXPI), you receive dividends. You're not just an agent — you're a co-owner alongside Glenn Sanford, Adam Day, and every other eXp agent.

### 4. Revenue Share
7-tier passive income. When you attract an agent to eXp and they generate revenue, you earn a percentage — paid from eXp's share, NOT from the agent's commission.
- Tier 1: £1,400 per capping agent per year
- Cascading through 7 tiers with varying percentages

### 5. Agent Equity Commission Program
Voluntarily take 5% of your commission as EXPI stock at a 5% discount. ~55% of agents participate.

## Key Benefits

- **Work from anywhere** — no office lease, no desk fees
- **Keep your brand** — you trade as "[Your Name], powered by eXp"
- **Cloud-based CRM** — Loop (UK-specific), integrated portals, lead generation
- **Portal access** — Rightmove, Zoopla, OnTheMarket included
- **Call answering** — Moneypenny 24/7
- **Training** — continuous learning, masterminds, mentorship
- **Compliance handled** — AML, KYC, TPOS, contract e-signing
- **Global referral network** — 24+ countries
- **eXp Luxury** — dedicated luxury brand and marketing

## Monthly Costs

- £150 start-up fee (one-off)
- £150/month (tech £75 + university £25 + advertising £25 + misc)
- No desk fees, no office rent, no franchise fees

## UK Leadership

- **Adam Day** — International eXpansion Leader for UK & Europe. Started in estate agency 1997. Launched Hatched.co.uk (acquired by Connells Group). Led eXp UK launch 2019.

## The Key Differentiator

"Once you see it, you can't unsee it."

Traditional model = 2 income buckets, all overhead, no equity, no retirement.
eXp model = 5 income buckets, minimal overhead, stock ownership, revenue share as retirement plan, willable/inheritable asset.