Most Agents Sell Homes. He Builds Them From the Ground Up.
Feisal Ramjee sells new construction in the Seattle area, and he is involved from land acquisition onward rather than arriving when the homes are finished. He joined eXp Realty in April 2025.
The details and quotes below are from eXp Realty's announcement of the move.
What eXp reported
- An exclusive partnership with Merit Homes since 2019
- 30 new homes in the sales pipeline for 2025
- 30 more in development for 2026
- Involvement across the full project, from land acquisition through final sale
Both pipeline figures were projections at the time of the announcement, not closings.
Why the involvement matters
"When I'm selling a home, I don't just know the specs — I know why every decision was made. That makes me the best person to guide buyers through the process." — Feisal Ramjee, quoted in eXp Realty's announcement.
An exclusive builder relationship is the most durable form of lead generation in residential real estate, and the least discussed. It is not a listing you win once. It is a pipeline that refills without marketing spend, for as long as the builder keeps building — and it disappears entirely if the relationship or the builder does. That concentration risk is the trade.
The economic claim, checked
"With eXp, I keep more of my earnings, and I gain the ability to expand beyond Washington." — Feisal Ramjee, in the same release.
That is a claim, so here are the numbers behind it. eXp pays 80/20 to the agent until an annual commission cap of $16,000, after which the agent keeps 100% subject to a $25 broker review fee per transaction and E&O at $60 per transaction, capped at $750 a year. Startup is $149 one time and the cloud brokerage fee is $85 a month.
On Bean Group's Mega Team the eXp cap is $4,000 instead of $16,000. That is the eXp line only — the Bean Group team split is separate, is not capped, and varies by level on the partnership ladder. Whether "keeping more" is true for you depends on both lines and on your transaction count, not on the cap alone.
On the expansion point
The ability to carry a licence into another state without opening an office is a genuine structural feature, and it is the reason niche specialists cluster at cloud brokerages. For a builder-focused agent it means following a builder into a new market rather than handing off a referral.
Ramjee's stated longer-term goal was mentoring agents and building income through revenue share. The honest version of that: it is a seven-tier pool share funded from company dollar, described on our revenue share page, and eXp's own income disclosure puts the median for a typical Tier 1 agent at $0. It rewards sustained effort and pays nothing for intent.
If you are an experienced agent weighing a move, the practical mechanics are on our active agents page.
Numbers in this post reflect the program as documented at exptoolkit.com/revenueshare; that page, not this one, is authoritative.