eXp Realty vs Corcoran: Which Brokerage is Best for Realtors?

Today we’re comparing two big names in the real estate world—eXp Realty and Corcoran. Choosing the right brokerage gets you off to a great start, pick the wrong one and you don’t even get out of the gates. Here’s your handy dandy index:

Why Your Brokerage Choice Matters

Your choice of brokerage does more than just affect your paycheck—it shapes your entire real estate career. Sure, commission splits are a huge part of it, but the resources, training, support, and even the day-to-day experience you’ll have as an agent are equally important.

Picking the right brokerage means finding the one that fits your style, goals, and needs—and of course, helps you maximize your income.

Today, we’re comparing eXp Realty and Corcoran, two widely recognized real estate brands. While eXp Realty is known for its transparency, you might have to dig deeper for some of the details on Corcoran, but no worries—we’ve done the homework for you.

eXp Realty vs Corcoran: Agent Satisfaction

One key way to gauge how happy you’ll be at a brokerage is by checking out agent satisfaction. According to Glassdoor, eXp Realty holds a fantastic 4.6-star rating, while Corcoran isn’t far behind with 4.4 stars.

Both companies clearly have satisfied agents, but it’s important to think about why. This can come down to support, resources, and overall company culture. And we all know that happier agents tend to be more successful agents.

If you’re curious about how the top real estate firms stack up, check out our blog “12 Insider Picks for the Best Real Estate Brokerage in 2024!”. Spoiler alert: eXp Realty ranks #1 on Glassdoor.

eXp Realty vs Corcoran: Brokerage Profitability

Why does profitability matter? Because a financially stable brokerage can keep offering you great tools, training, and support without cutting corners. When a brokerage is in the red, it’s not uncommon for agents to feel the pinch.

Corcoran is part of Anywhere Real Estate, a large holding company that also includes brands like Sotheby’s, Better Homes & Gardens, Century 21, and Coldwell Banker. As a group, Anywhere has posted 20 quarters of earnings with 12 quarters of profits, which leaves them with 60% profitable quarters. While that’s not terrible, it’s not the most financially secure either.

On the other hand, eXp Realty has posted 20 quarters of earnings, with 15 profitable quarters, which puts them at 75% profitability. And here’s the kicker—eXp Realty is the only publicly traded brokerage that’s been profitable for the past five years.

That financial stability means continued improvements for both agents and clients, with no surprises or cost-cutting moves that hurt your bottom line. If you want the full scoop on brokerage profitability, check out our blog “Top Real Estate Companies That Might Go Under!”.

eXp Realty vs Corcoran: Commission Splits

When it comes to commission splits, this is where agents often pay the most attention. After all, it’s what determines how much of your hard-earned money stays in your pocket.

At Corcoran, agents face some of the lowest commission splits in the industry, with splits ranging from 50/50 – 70/30. For those unfamiliar with splits, this means you could be giving half of your commission back to the brokerage, depending on the deal you negotiate. It ties with Douglas Elliman for one of the lowest splits out there.

In contrast, eXp Realty offers one of the most agent-friendly commission structures in the industry. All agents start with an 80/20 split, and once you’ve paid $16,000 to the brokerage for the year, you cap and move to 100% commission—meaning everything after that is yours to keep.

Plus, eXp rewards agents with stock for hitting certain milestones, and if you meet even more goals, you can get your $16,000 cap back in company stock. Bottom line, eXp Agents can earn more than 100% of their commission and it’s transparent and the same for every agent, no matter their location or experience.

eXp Realty vs Corcoran: E&O Insurance

Let’s talk about E&O insurance, which is critical for protecting both you and your brokerage from legal claims. At Corcoran, it’s tough to get specifics on E&O insurance. Agents have described it as “high,” so it’s worth checking with your local office to find out what you’ll be expected to pay.

Meanwhile, eXp Realty makes E&O insurance easy and affordable. You pay $60 per transaction, but only when you close a deal. And once you hit $750 for the year, you’re capped and done paying for E&O. That’s a huge relief for agents, especially if you’re just starting out and don’t want to deal with big upfront fees before you’ve even closed your first deal.

eXp Realty vs Corcoran: Fees

Next up, let’s dive into fees, because no one wants to be surprised by extra costs that eat into their earnings. At Corcoran, monthly fees vary significantly by office, and agents also pay a 6% royalty fee per transaction. That royalty fee adds up quickly and can really cut into your commission.

eXp Realty, on the other hand, keeps things straightforward. Agents pay an $85 monthly fee and a $25 transaction fee per deal until they hit their cap. The simplicity and predictability of these fees make eXp Realty a much more cost-effective choice for agents.

eXp Realty vs Corcoran: Training and Support

Whether you’re a new agent or a seasoned pro, having access to the right training and support is critical to your success. At eXp Realty, the training is top-notch. You get access to over 50 live training sessions every week, as well as an on-demand library full of helpful resources.

Plus, new agents can take part in the Fast Start program to get up and running quickly, while experienced agents can level up with the Kick Start program. And with 24/7 support and over 2,000 full-time staff members, you’ll never be left without help when you need it.

Over at Corcoran, training and support vary by office. The level of support you receive depends heavily on your local broker, so if you’re in an office with less training or a less available broker, you may find yourself without the resources you need when it counts.

eXp Realty vs Corcoran: Technology and Resources

When it comes to technology and resources, staying ahead of the curve can be a game-changer for agents. eXp Realty is all about leveraging tech to give agents the best tools.

As a fully virtual brokerage, eXp agents can do everything online, from meeting with their broker to attending training sessions. The eXp World platform is like a metaverse for agents, allowing them to collaborate and work together in real time. Want the full scoop? Check out our blog on eXp World!

On top of that, eXp Realty provides each agent with their own IDX website, a powerful kvCORE CRM, and a marketing center filled with customizable templates for social media, flyers, and more.

Details on Corcoran’s tech offerings are a bit more elusive. While they’ve built a solid brand, especially in luxury real estate, there’s no clear information on whether they offer the same kind of comprehensive tech tools that eXp Realty does. If cutting-edge technology is a must-have for you, eXp Realty seems to be the better bet.

Why Corcoran May Be Best for You

Let’s be real—Corcoran does have a lot to offer, especially if you’re an agent who prefers working in an office and enjoys having a nearby person to check up on you and make sure you’re on track.  In that case, your local Corcoran office might feel like home.

On the flip side, if it’s just that you don’t want to work at home, eXp Realty does offer FREE access to over 4,000 Regus office business lounges worldwide. But, if you’re the type who needs daily interaction and face-to-face accountability to stay on track, eXp’s virtual model might not be the best fit for you.

eXp’s Exclusive Resources

Beyond the usual offerings, eXp Realty has a few game-changing features that other brokerages simply don’t provide. eXp Realty has a luxury division with global advertising around the world. eXp Realty has a dedicated team, Revenos, whose entire mission is to find and deliver top-quality leads directly to eXp agents—how great is that?

Then there’s eXp’s Referral tool that makes sending referrals to other agents effortless, and for those wanting to focus purely on referrals, eXp’s Referral Division slashes costs while keeping you active in the industry.

And, of course, there’s Revenue Share, which lets you build extra income by bringing other agents into eXp. The best part? That income doesn’t end when you retire and it’s willable, so it continues to roll in even after you’re no longer working. Now that’s a win-win!

That’s a Wrap

When comparing eXp Realty to Corcoran, it’s clear that eXp Realty stands out with its transparent commission splits, lower fees, and unparalleled support and technology. Corcoran is a solid choice for agents who value the branding and prefer a traditional office-based model, but when it comes to overall value and flexibility, eXp Realty has the upper hand.

Join our FREE Team at eXp Realty

Join the leading force in real estate with eXp Realty – the only profitable publicly traded brokerage over the past five years and holds the prestigious title of the best brokerage to work for. The benefits of eXp Realty are unmatched and will truly exceed your expectations!

When you join us at Smart Agent Alliance, you’ll also be part of the Wolf Pack at eXp Realty.  Together we are one big team and we provide more FREE value than you’ll get anywhere else in the real estate business.

What’s included? Access our exclusive SAA Vault Assets to enhance your business efficiency, attend weekly team video calls filled with invaluable insights and top agent strategies, and receive the Social Agent Academy Program and Investor Army Courses – a combined value of over $1,500 – absolutely free. And that’s just the beginning! Explore more about our robust team benefits.

Don’t let this opportunity pass you by. Transform your real estate career, maximize your income, and secure your future. Contact us now to schedule a video consultation or email us at team@SmartAgentAlliance.com. We’re here to ensure your success.

 

Frequently Asked Questions

How happy are Corcoran vs. eXp Realty agents?

On Glassdoor.com, where agents anonymously rank their brokerage, eXp Realty holds a fantastic 4.6-star rating, while Corcoran isn’t far behind with 4.4 stars. For all the legwork comparing all the big real estate firms, check out “12 Insider Picks for the Best Real Estate Brokerage in 2024!”.

How profitable is Corcoran vs. eXp Realty?

Corcoran is part of Anywhere Real Estate, a large holding company that also includes brands like Sotheby’s, Better Homes & Gardens, Century 21, and Coldwell Banker. As a group, Anywhere has posted 20 quarters of earnings with 60% profitable quarters. eXp Realty has posted 20 quarters of earnings with 75% profitability. For more on brokerage profitability, check out “Top Real Estate Companies That Might Go Under!”.

What makes eXp Realty different?

Besides top agent pay, low fees, extensive training, and state-of-the-art technology, eXp has a Luxury Division offering global marketing,  a dedicated team called Revenos providing quality leads to agents, a Referral tool making referrals to other agents a breeze, a Referral Division cutting agent costs for referral only business and Revenue Share opportunities providing additional agent income possibilities that continue after retirement and is willable.