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Does Exp Realty Offer Health Insurance

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Exp Realty Becomes Latest Brokerage To Offer Healthcare Plan

Does eXp Realty Offer Healthcare?

EXp Realty has become the latest brokerage to offer its independent contractor agents an alternative healthcare plan to finding coverage through the Affordable Care Acts open market place.

The virtual cloud-based real estate brokerage announced Monday its partnering with Clearwater Benefits, an 18-month old, Texas-based insurance startup for independent contractors that says it leverages group buying power to offer more affordable options.

We heard from our agents that finding affordable health care is a challenge that detracts from their peace of mind and growing their businesses, which is why were so pleased to roll out eXp Agent Healthcare, Jason Gesing, CEO of eXp Realty, said in a statement.

At eXp, we are focused on our agents success, and providing access to the best possible health care aligns with our strategy to prioritize our agents, Gesing added. Our exclusive partnership with Clearwater means agents will have access to affordable, quality healthcare so they can focus on what matters most to them.

Through eXp Agent Healthcare, agents will have access to a dedicated concierge that will help them obtain insurance and maximize their cost savings, the company said in a statement. Agents will also have access to Teladoc, a video conferencing startup that connects consumers to medical providers, which fits the companys theme of working virtually.

So What Is Exp Realty

Basically, eXp Realty is a cloud-based brokerage. In 2009, Glenn Sanford combined his love of internet-based startups and real estate into a single company. He founded eXp Realty, the first cloud-based brokerage in the United States . Glenn believes that real estate agents and brokers deserve more for the hard work they do every day, so he created a company that would offer them more benefits for less.

Five years later, eXp had spread to Canada, and by 2017 it had 10,000 agents worldwide. In the last four years, eXp has seen exponential growth! It has now reached 40,000+ agents and opened operations in all 50 US States and 7 Canadian provinces.

To this day, eXp is one of the top real estate brokerages with extensive 24/7 benefits for all its agents. Some of the top selling points and benefits of eXp Realty that agents bring up include:

  • 80/20 commission splitagents take 80% of the commission and eXp gets the other 20%
  • $16,000 caponce youve paid $16,000 into the company, you get 100% of the commission moving forward
  • Cloud-based brokeragecommunication, training, management, and everything else you need is contained online
  • Great programsyou have access to competitive health insurance programs, an iBuyer program, cutting edge technology and more
  • Sponsorship programagents can sponsor other agents and receive a revenue share

Getting A Second Opinion

It is always a good idea to get a second opinion from an independent insurance broker. They are impartial and they may be able to connect you to other group insurance plans. At a minimum, you will know if the insurance plan you choose is the right one for you.

You can read more in our recent article, Top 5 Benefits of Using Local Health Insurance Agents.

Statements on this website as to policies and coverage’s and other content provide general information only and we provide no warranty as to their accuracy. Clients should consult with their licensed agent as to how these coverage’s pertain to their individual situation. Any hypertext links to other sites or vendors are provided as a convenience only. We have no control over those sites or vendors and cannot, therefore, endorse nor guarantee the accuracy of any information provided by those sites or the services provided by those vendors.

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Programs For New Agents

One of the biggest advantages of working with eXp Realty and Keller Williams compared to any other brokerage is their intense programs for agents.

eXp Realty offers an extensive training program and a variety of tools, such as online courses to help agents learn the ropes. eXp also offers a mentor program for all new agents.

Keller Williams has a more traditional approach with its new agent boot camp that includes three phases: New Agent Orientation, The Wealth Builder Program, and Advanced Training. This gives them time to invest in their newest recruits and turn them into top producers.

Health Insurance For Real Estate Agents

Does Exp Realty Offer Health Insurance

The majority of real estate agents are independent contractors of their real estate firms. As an independent contractor, many typically dont have access to traditional employer-provided benefits, such as health insurance.

Finding affordable health insurance can be a challenge for many self-employed real estate agents. Some have the opportunity to buy into health insurance through their brokerage, a family members plan, or the professional organization, National Association of REALTORS. Others turn to the Affordable Care Act , which provides health coverage for those with a low to moderate incomes.

Affordable Care Act

People who arent eligible for insurance that is provided by a large group employer, individual health insurance is a type of policy individuals can purchase for themselves or their family, but these plans can be expensive and coverage limited.

The Affordable Care Act aimed to provide cost effective, quality individual and small group insurance coverage for many who had previously been uninsured.

Provisions included in the ACA were intended to do the following:

  • Expand access to insurance
  • Improve quality and system performance
  • Expand the health workforce
  • Curb rising health care costs

As a result of the ACA, more health insurance options are available to independent contractors like real estate agents. We look at some of these below.

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Who Is Clearwater Benefits

Clearwater Benefits is an insurance brokerage dedicated to offering affordable health care coverage options to its clients. Its innovative healthcare option fits the demands of the Affordable Care Act while providing residential real estate agents with affordable health benefits and insurance plan options.

Clearwater Benefits not only offers health insurance plan options, but also other group policies, including:

  • Life insurance
  • Vision insurance
  • Wellness initiatives

This comprehensive list of policy and plan options is a perk of the partnership between eXp World Holdings and Clearwater Benefits. Every eXp Realty agent has the choice to choose from many plan options, in addition to the affordable healthcare plan coverage. This allows every real estate agent to have the best possible benefits package for their own situation.

Working At Exp Realty

Health Insurance · Health Care On-Site · Vision Insurance · Dental Insurance · Health Savings Account · Flexible Spending Account · Supplemental Workers Multiple revenue streams, health insurance, lower fees for husband and wife real estate teams and for agents who hold a real estate license in multiple

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Do They Offer Health Insurance

  • Answered December 26, 2019 – Owner Operator of a small brokerage firm – Raleigh, NC

    Yes as of this year.


  • Answered September 22, 2019 – Real Estate Agent – Arlington, TX

    I am sure they offer some type of health insurance


  • Answered August 29, 2019 – Realtor – Nashville, TN

    No, and it is commission only


  • Exp Realty Compensation Plan

    What Does eXp Realty Offer?

    As an eXp Realty agent, you can make money every time you sell a property, like most agents of other real estate companies do.

    You will also earn commissions from all the sales made by all the eXp Realty agents under your team.

    Sales Commissions

    Every sale you make, there is an 80/20 commission split between you and the company. You will keep sharing your commissions until the required cap is met.

    What is a cap, you ask?

    Well, the cap in real estate business commonly refers to the point at which the brokerage will no longer take a commission split, and you are then entitled to earn 100% of the commissions.

    Caps are usually restarted annually, which in eXp Realtys case, every contract year or the anniversary of joining the company.

    As an eXp Realty agent, you cap when you pay $16k to the company, which equates to generating $80k in gross commission.

    Recruitment Commissions

    You can receive commissions from the sales activity of the other agents recruited by you and other people as long as they are under your team.

    eXp Realty refers to this as the Cascading Revenue Sharing Program, whereas it is commonly known as a Unilevel program in network marketing.

    In a Unilevel, the Tier 1 of your team will be filled with agents that you personally recruited into the company.

    Tier 2 is reserved for the personal recruits of your Tier 1 agents Tier 3 is filled with recruits of your Tier 2 agents and so on.

    But that doesnt end there.

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    Exp Training Resources & Education

    With the savings brought about by not having unnecessary locations, the company has invested in offering agents many training & educational resources.

    Here are some of the programs:

    • eXp eXpand: More experienced agents can volunteer to mentor new associates.
    • Weekly live training: Youre always learning at eXp Realty thanks to the events, classes, and meetings hosted in the virtual eXp World. Sessions are facilitated by top producers and experts. Youll learn about lead generation, company technologies, making sales & listings, and more. In the virtual campus, you can walk around with your avatar and join classrooms. You can even ask questions to the instructors during the live sessions.

    Options Available For Health Insurance For Real Estate Agents Through The Aca And Other Means

    Finding affordable health insurance is a challenge for many self-employed agents like Cloud. Some buy into health insurance through their brokerage, such as Keller Williams, a family members plan, or the professional organization, National Association of REALTORS©. Others turn to the Affordable Care Act , which provides health coverage for those with a low to moderate incomes.

    Although the ACA may have helped many self-employed agents find health insurance, rising health insurance rates and tighter restrictions on federal tax credits may force agents to forgo or delay medical care for themselves and their families to control costs, the NAR reports. There are also tax penalties for not having a qualified health plan in 2017, although those are set to be waived in 2019.

    Newcomers to the real estate business who are inclined to let the high cost of health insurance deter them should know that there is good news. The percent of uninsured NAR members have been falling in recent years since ACA reforms, health exchanges, and premium tax credits began. Only 20 percent of NAR members were uninsured in 2016 compared to 36 percent in 2012 before ACA underwriting reforms and health exchanges went into effect, NAR reports.

    NAR continues to advocate for health care reforms for the self-employed and small employers. Among its legislative proposals is to allow bona fide trade associations to offer association health plans to its members.

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    Why Do Companies Offer Revenue Sharing

    Many businesses from different industries offer some form of revenue or profit share. Typically, companies that offer revenue share do so to incentivize quick growth without incurring much of the overhead seen otherwise. With revenue sharing, the company doesnt need to spend nearly as much money in marketing and hiring employees to help the company grow like a traditional one. Instead, they pay current employees or contractors based on performance for their contribution of the companies growth.

    Additionally, most companies find that when they reward employees or contractors for helping to find talent and grow the company, they often end up with a better, more qualified workforce.

    How To Get Started

    eXp Realty Fees Explained

    First off you must join eXp Realty and start getting your sponsorship going through the onboarding process. Once you are set up as an agent you can shop the affordable health insurance plans. Even though agents are independent contractors and self-employed, they still need health care insurance. Choosing an eXp Realty Health Insurance Plan can save you thousands of dollars each year. If you are already an agent, contact my office at any time to learn more about setting up ideal health insurance or switching plans.

    More tips for agents and brokers:

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    Broker Cap: Low $16000 Always

    Caps tend to vary greatly by broker and productivity level, and are often times in the $30,000+ range. And, if you are a multi-state agent, you generally have a cap in EACH state. At eXp, you cap and go to 100% commission once youve paid $16,000 each year. At a 3% commission split on a transaction, thats about $2,666,667 in property sales .

    That means you cap when you hit that $16,000 regardless of how MANY transactions or how many STATES your are licensed in! Again, this is less of a cost of eXp Realty and much more of a benefit.

    What’s The Difference Between Revenue Sharing And Profit Sharing

    In simple terms, profit sharing, which is what most brokerage companies offer, is when agents are paid a share of the companys profits after all expenses have been paid. Often and frustratingly for the agent, many times there is little to no money left and their share of the profits is little to none.

    Revenue sharing, offered by eXp Realty, is when the agents are paid a share of the revenue generated at the time of the sale. Agents earn a share in the revenue regardless of how much profit the company makes.

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    How Does Revenue Sharing Work With Exp Realty

    Each eXp real estate agent has a $16,000 cap to meet. What that means is, there is an 80/20 split on the commission for each sale until you reach $16,000 at which time you reach your cap and begin keeping 100% of your commissions. When you sponsor an agent, eXp pays you a percentage in revenue share out of their 20% cut of the sponsored agents commission. When your recruit meets their cap for the year, your rev share ends, until the next year when the cap resets. So, for each agent you sponsor, you can earn 3.5% in rev share each year until they reach their cap. Amazingly, eXp has taken this model a few steps further. When an agent you sponsored, sponsors an agent, you receive revenue sharing for that as well.

    As great as all that is, the best part is that when you are ready to retire from selling homes, as long as you keep an active real estate license, you can still earn a share of the revenue generated by the qualifying agents you and/or your agents sponsored. Its like having a pension!

    eXp Realtys revenue sharing model is straightforward and easy to understand but there are some requirements. Check out the chart below and contact me if youd like more information about rev share or eXp in general.

    eXp Realty Fees

    How Much Are Real Estate Agent Fees at eXp Realty?

    eXp Realty – The Best Brokerage for Husband and Wife Teams and Real Estate Agents Licensed in Multiple States

    Other Benefits eXp Realty Offers:

    eXp Realty Agent Health Care

    An Affordable Alternative To The Open Market

    eXp Realty Lead Generation – Does eXp Give you Leads?

    With eXp Agent Healthcare, real estate agents get better healthcare choices. This can help them enjoy fixed healthcare expenses so they can easily budget for their healthcare costs.

    This product also means that more agents can get insurance. The National Association of REALTORS did a study in 2018 that found that 14 percent of NAR members did not have health insurance. This was due to the high cost of health insurance when purchasing it from a company on the open market.

    On the other hand, Clearwater Benefits reports that agents who partner with them experience significant savings of around $10,000 on fixed healthcare expenses and 80 percent on out-of-pocket expenses.

    With the exclusive partnership between eXp Realty and Clearwater Benefits, agents now have an affordable healthcare coverage option that can save them from unnecessary stress and expenses.

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    You Might Not Earn Money

    Yes, there is a good chance that you wont be making money within your first months as an agent of eXp Realty.

    Selling real estate properties isnt as easy as selling a 50-dollar multivitamin, and to think most people even have trouble selling the latter.

    Furthermore, it will be much harder to close real estate sales with eXp Realty because of little brand recognition with clients.

    Recruiting people wont save you too because agents under your team need to cap first before you can earn commissions from them.

    Is Exp For You

    Ive done my best to give you a trustworthy rundown of the pros and cons of eXp Realty. Its a powerful online brokerage with tons of options for revenue streams and cutting-edge technology. But its also a challenge to get started with the new technology, the online focus, and some annoyingly salesy agents. Theres no one perfect answer for which brokerage is perfect for you, but I hope this article has helped you decide what you think of eXp.

    If you have any questions or would like to hear more about joining eXp, go ahead and reach out to me and I will do my best to help you with anything you need.

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    How Do Realtors Get Health Insurance

    Realtors can get health insurance just like any individual by buying it on the Health Care Marketplace. However, because they are independent contractors, the cost can add up and become a substantial expense. One option for affordable health insurance is joining eXp Realty and checking out their health plans.

    They Can Collaborate From Anywhere

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    eXp is a highly collaborative organization where agents are eager to assist other agents near and far.

    This can happen naturally through eXp World or Workplace or programs like ICONversations and Agents Helping Agents.

    Top-producing eXp agents exchange productivity insights with other eXp agents. Also, referrals can come from anywhere in the United States and worldwide.

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