This deep dive into Real vs eXp Realty weighs profitability, commission split math, revenue share programs, training quality, and long-term stability so you can decide which cloud brokerage to join in 2025 and beyond. 

By the end, you will see if Real Broker’s streamlined model or eXp World’s scale is the best fit for your real estate business.

Company Backgrounds

Who is Real Broker?

Real Brokerage, often shortened to “Real,” entered the real estate industry in 2014 and trades on the NASDAQ under the ticker REAX. It identifies as a cloud brokerage first and a real estate company second, operating without physical offices and emphasizing a mobile-first experience called reZEN.

The company grew from a few hundred Real Broker agents to more than 15,000 in six years, thanks to an 85/15 commission split, a $12,000 cap, and no monthly fee.

Leadership highlights the Elite Agent award that returns significant stock awards each year, helping agents at Real build ownership rather than simply paying a transaction fee. Real pays production bonuses in company shares, and Real Broker also offers lower-cost access to Chime CRM, which can run more than $500 per month on the open market.

Agents who join Real Broker consistently cite culture, transparent economics, and a nimble tech stack as drawcards, positioning Real vs eXp Realty as a David-and-Goliath showdown where agility competes with scale.

Who is eXp Realty?

Founded in 2009, eXp Realty headlines nearly every conversation about cloud-based real estate companies.

Traded on the NASDAQ as EXPI, eXp Realty’s growth from a few dozen agents to more than 85,000 worldwide made it the poster child for a virtual brokerage to join. eXp Realty uses eXp World, a 3-D campus where eXp agents attend meetings, training, and broker chats with digital avatars.

The company maintains an 80/20 commission split that caps at $16,000, after which agents pay a $250 transaction fee for the next 20 deals and a $75 fee thereafter. eXp Realty offers agents the ICON Agent award that can reimburse the full cap in EXPI shares for high production plus cultural contribution, giving top producers a headline 100% split on paper.

In the Real vs eXp debate, fans of eXp World cite its massive referral network and robust technology bundle as reasons to join eXp Realty, while detractors point to complexity in fees and a steep learning curve for new agents onboarding.

Profitability & Stability

Real’s Financial Track Record

In Q2 2025 Real closed 49,282 transactions—up 62 % year over year—representing $20.1 billion in sales volume, a 60% jump. Revenue climbed 59% to $540.7 million, and the brokerage posted its first quarterly profit at $1.5 million.

Analysts point out that top-line growth once again outpaced agent head-count gains, a sign that productivity per Real Broker agent keeps climbing while cost discipline tightens. The market continues to value Real stock on tech-sector multiples rather than old-line brokerage metrics, and leadership is channeling fresh cash into reZEN upgrades and Real Academy content to drive even more profit per deal.

eXp’s Performance

eXp World Holdings generated $1.3 billion in Q2 2025 revenue, a modest 1% uptick from a year earlier, and logged a $2.3 million net loss. Closed transactions slipped 2% to 118,612, while sales volume inched up 1% to $52.5 billion.

Supporters view the numbers as proof that eXp can defend scale in a choppy market—helped by $32.6 million returned to shareholders through buybacks and dividends—but skeptics say the flat growth curve shows the cloud brokerage’s breakneck expansion is easing. Profitability remains elusive even as generous stock bonuses and a vast global network keep recruiting pipelines full.

Long-Term Implications

Both cloud-based brokerage giants run negative net income, so stability hinges on cash runway and operating leverage.

Real Broker’s rapid revenue gains show a steeper curve, while eXp Realty’s larger cash balance and broad international network reduce single-market risk.

Agents choosing a brokerage to join must weigh whether they prefer a smaller size with faster percentage growth or a mature breadth with slower expansion.

Commission and Revenue Models

Splits, Caps, and Stock at Real

Real Broker offers an 85/15 commission split with a $12,000 cap; once you cap, you keep 100% of the commission and pay a $285 transaction fee, which drops to $129 after earning the Elite Agent award.

Every capping agent also receives a stock award of 150 REAX shares, and Real Broker’s Elite Agent award grants up to $16,000 in additional shares, making Real Broker’s stock incentives significant for top performers. Real Broker’s annual brokerage fee is $750, collected from the first three closings, and there is no recurring monthly fee.

Splits, Caps, and Stock at eXp

eXp Realty sticks to an 80/20 commission split with a $16,000 cap. Once the cap is reached, agents pay a $250 transaction fee for the next 20 sales, then $75 per deal.

The ICON Agent award returns the full cap in EXPI shares if an agent closes roughly 20 transactions after capping and meets cultural contribution requirements.

Unlike Real vs eXp commissions, eXp Realty charges an $85 monthly cloud brokerage fee and collects a $25 broker review fee plus a $40 risk-management fee on every file, capped at $750 each year.

Fees and Ongoing Costs

Fees are another important factor in choosing a brokerage.

Real Broker charges no monthly tech fee, only the annual brokerage fee and per-file charges, so cash flow remains tied to closed deals rather than calendar dates.

eXp Realty’s monthly fee means agents pay regardless of production, which may be a good motivator for some but a drag for part-time producers.

Real vs eXp Realty software included in the base cost differs: eXp Realty uses kvCORE or BoldTrail bundled into the monthly fee, while Real Broker offers a limited Chime account at no cost and a paid upgrade if you want advanced automation.

Cost Comparison

If you close 20 to 40 sides per year, Real Broker vs eXp Realty usually favors Real in net take-home pay because the lower cap and absent monthly fee offset the slightly higher post-cap transaction fee.

At 60 closed sides or more, cost parity emerges once Elite Agent and ICON stock awards vest, so high-volume professionals must evaluate stock liquidity and vesting timelines when they compare Real vs eXp Realty.

Revenue & Equity

Real’s Revenue Share

Real operates a 5-tier revenue share program often called 5-4-3-2-1 because tier one pays 5% of gross commission, tier two pays 4%, and so on to tier five at 1%. All dollars come out of the brokerage’s 15% split, not the agent you sponsored.

No frontline qualifying agent requirement exists, so the structure feels straightforward when explaining Real Broker’s revenue share to recruits.

eXp’s Revenue Share

eXp Realty’s revenue share program stretches across 7 tiers.

Tier one pays 3.5% of gross commission, but unlocking deeper levels requires a growing roster of frontline qualifying agents who each produce at least $5,000 in company dollar.

The math can intimidate new agent recruiters, yet the upside is larger once the matrix fully activates.

Why Real Is Simpler and Stronger

Many Real Broker agents who left eXp Realty cite simpler revenue share math as a prime driver. They like telling prospective recruits, “You earn from day one, no qualifier hurdle,” which shortens the sales cycle.

Real Broker also keeps fewer layers, so the portion paid to each sponsor is larger on average, and payout statements arrive daily instead of monthly, reinforcing the passive-income message.

Training & Community

Real’s Training and Support

Real Academy streams more than twenty live classes weekly, covering contract basics, AI marketing, and advanced lead conversion.

Real Academy content lives inside the reZEN app, and mastermind channels let Real and eXp relocation specialists swap scripts in real time.

Real Broker offers state-level broker chats through Slack-style channels, complementing official courses with open Q&A threads that feel more organic than avatar meetings.

eXp’s Training and Mentorship

eXp University is a virtual campus offering over eighty live classes each week and dozens of on-demand series. 

Sessions range from FastCAP, a six-week program designed to help new agents cap quickly, to ICON masterminds led by top producers.

eXp agents also attend daily breakout groups inside eXp World, creating a sense of community despite the lack of physical offices.

Tech & Tools

Real Broker Tech Stack

Real Broker’s technology stack hinges on reZEN for compliance, document management, and financial dashboards.

The brokerage bundles a Lofty CRM “Core” account at no monthly fee and negotiates a $25 premium upgrade for those wanting full IDX and automation.

Real also integrates SkySlope for disclosures, Authentisign for signatures, and a concierge onboarding portal that guides every new agent through branding, lead flow, and social media basics within their first week.

eXp’s Realty Tech Stack

eXp Realty offers kvCORE, BoldTrail, Lofty, or Cloze, included in the $85 monthly fee, plus Design Center, Skyslope, and Workplace by Meta for collaboration.

The suite feels expansive, yet some agents report tool fatigue because each platform carries its own learning curve. eXp Realty uses 360 Home, a client portal aimed at boosting engagement, and eXp World functions as both tech hub and customer-service hotline.

Pros & Cons of Each Real Estate Brokerage

Real Broker Pros

Real Broker offers no monthly fee, an 85 / 15 split, and a low cap that frees income quickly for marketing spend. The reZEN mobile dashboard updates commissions in real time, helping many real estate professionals budget more accurately.

Real Broker’s Elite Agent award and stock award plan build ownership, and the revenue share program avoids complex qualifiers, making it easy to present to eXp agents exploring a move.

Real Broker Cons

Brand recognition remains lower than eXp Realty’s, which means agents in luxury circles sometimes need to introduce the logo before closing a listing appointment.

Smaller state broker teams can lengthen response times during holiday weeks, and the $285 post-cap transaction fee feels high until Elite status slashes it to $129.

eXp Realty Pros

eXp Realty’s global footprint delivers referral reach that few real estate companies can match. eXp World offers around-the-clock support, and the ICON Agent award reimburses the full $16,000 cap in stock, effectively turning a commission split into an investment vehicle for top producers.

Many real estate agents appreciate the bundled tech stack that would cost hundreds per month elsewhere.

eXp Realty Cons

The $85 monthly fee and layered per-file charges can pinch cash flow for new agent budgets. The 7-tier revenue share matrix requires constant recruiting to unlock deeper levels, which can distract from core production.

Finally, support quality varies because each state broker sets local cadence, a point raised by agents leaving eXp for Real.

Why Real Broker Comes Out on Top

When you line up Real Broker vs eXp Realty spreadsheets, Real pays the typical full-time agent more net income on transactions in the 20-to-40-side range and delivers a clearer path to passive revenue share.

Real Brokerage’s focus on daily payout, no monthly fee, and transparent transaction fee math appeals to many real estate agents who think Real Broker is the next evolution of cloud-based real estate. eXp Realty’s scale remains unmatched, and eXp Realty’s growth overseas opens referral channels that Real has not yet fully tapped, so global teams may prefer to join eXp Realty.

The decision boils down to your volume, recruiting appetite, and tolerance for recurring fees; see if Real or eXp aligns with your personal roadmap before signing.

FAQ’s About Real vs eXp Realty

How do monthly costs differ between the two cloud brokerages?

Real Broker charges a $750 annual brokerage fee taken from the first three transactions and no monthly tech bill, while eXp Realty levies an $85 fee every month, plus a $25 broker review fee and a $40 risk-management fee on each file.

Agents closing fewer deals in a slow season often find the Real vs eXp Realty cost gap widening in Real’s favor

Which commission split gives agents more take-home pay?

Real Broker’s 85/15 split with a $12,000 cap leaves agents with a higher share of each commission until they cap, and the cap is reached sooner because it is $4,000 lower than eXp Realty’s $16,000 threshold.

After capping, both cloud brokerages shift to 100% commission, but Real’s post-cap transaction fee dips to $129 for Elite Agents, giving agents at Real a slightly lighter charge per deal.

Is the revenue share program really simpler at Real?

Yes.

Real’s 5-tier 5-4-3-2-1 model pays instantly out of the brokerage side without any frontline qualifying agent minimums.

eXp Realty’s 7-tier matrix starts at 3.5% and requires specific recruiting milestones to unlock deeper levels.

Many agents comparing Real Broker vs eXp Realty revenue share prefer Real because the math is easy to explain and commissions are posted daily rather than monthly.

What technology is included, and do I have to pay extra?

Real Broker bundles reZEN for transaction management and a Chime Core CRM at no monthly fee; you can opt into a $25 upgrade for full Chime automation.

eXp Realty includes kvCORE, BoldTrail, Lofty, and Cloze, plus Skyslope and eXp World, inside the mandatory $85 monthly charge.

If you already pay for outside lead-gen tools, paying another $85 may feel redundant; if you want an everything-in-one subscription, eXp offers that package.

Which brokerage offers better career progression for new agents?

Both platforms provide structured training: Real Academy offers more than 20 live classes a week focused on local contract law and marketing, while eXp University is a virtual campus with over 80 live sessions weekly.

New agents serious about mentorship can thrive at either cloud brokerage to join, but those who want smaller class sizes and faster broker replies may gravitate toward Real’s leaner state teams, whereas agents who love extensive catalogs and avatar classrooms often enjoy eXp World’s breadth.

Ready to Join Real Broker?

Thinking about joining Real? Connect with Chris Speicher to learn more today.