If you are looking to join eXp Realty, then you first need to pick an eXp sponsor. This may seem daunting at first, but it is really not as difficult as it seems. However, it is one of the most important decision you’ll make at eXp Realty. This will impact your entire experience with the company. We go through the process of picking the best eXp sponsor, while giving you some tips to make your decision easier.
What is an eXp Sponsor and Why Do I Need to Pick One to Join eXp Realty?
Every agent that joins eXp has to be sponsored by an agent who is already with eXp Realty. Before you can finish signing the eXp Realty ICA (Independent Contractor Agreement) and application, you must pick the person who has “most influenced your decision to join eXp”.
Picking the best eXp Sponsor is so important, because your sponsor is imperative to your success with eXp Realty. Additionally, the value he or she brings will be a great impact on your real estate career. Once you choose your eXp Sponsor, you cannot change. You must leave the company for 6 months, and return naming a new eXp Sponsor.
No professional recruiting
eXp Realty is an unique brokerage model because they do not pay for a professional recruiting team, unlike most traditional brokerages. Instead, the founder of eXp Realty, Glenn Sanford, is a visionary. He left the recruiting and growth side of the brokerage to their agents through an opportunity called Revenue Share.
What is Revenue Share?
Revenue Share is a completely optional program, but it is available to each eXp agent, on day one. If you wish to grow a Revenue Share organization, eXp Realty shares with the agents a percentage of the eXp side of the 20% commission split (eXp Realty has an 80/20 split). Nothing is paid to the eXp Sponsor out of your side of the 80% commission split. For a full explanation of how Revenue Share works, see the video below.
The benefit for you is that your eXp Sponsor is incentivize to help you grow your real estate business. Furthermore, if there are no sales, then there is no revenue share for the eXp Sponsor. The eXp Sponsor does not gain a referral fee for bringing on numerous agents. They have to be successful as well as a leader if they wish to enjoy the benefits of revenue share. The eXp Sponsor acts as your partner and another mentor for your real estate business.
How Do I Go About Finding and Picking the Best eXp Sponsor?
The best eXp Sponsor can be a challenge, especially if you don’t know anyone who is currently at eXp Realty. How do you know you are picking the best eXp Sponsor for your real estate business?
Your eXp Sponsor as it reads in the ICA is someone “who is the most influential individual in your decision to join eXp Realty”. That is all that is “required” of your sponsor. Yet, with over 83,000 agents, the best eXp Sponsor that also provides additional value, would be the most beneficial for you. Here are some questions that will help you decide which eXp Sponsor is ready to be your partner or which one just wants to collect a revenue share check:
- What training and support does your potential eXp Sponsor and your Sponsor’s organization offer you? Does it go above and beyond what is already offered to every eXp agent in the eXp World?
- Is your potential eXp Sponsor’s values align with how you would like to run and build your real estate business?
- Does your potential eXp Sponsor have a system in place to run a successful team. Furthermore, are they duplicatable for your own business?
- Does your potential eXp Sponsor believe in eXp’s Core Values?
- Does your potential eXp Sponsor give you the systems and trainings to either focus on production, revenue share or both?
- How will your eXp Sponsor help you get started?
- Is your potential eXp Sponsor willing to invest more time into your success, rather than their own?
- Ask your potential eXp Sponsor what their personal success when it comes to revenue share.
Keep in mind these important points:
- Your potential eXp Sponsor is NOT always going to be the first agent that you talk to about eXp.
- Your potential eXp Sponsor should NOT be a random agent found online who you never spoken with. It is ok to find an agent online, but meet with them over a virtual meeting. Importantly, get to know them first to see if they are a right fit as your business partner.
- Your potential eXp Sponsor does NOT need to be friend or family member who is currently with eXp. Sometimes these people are not always going to be the best business partners for your real estate business.
- Your potential eXp Sponsor does NOT need to be a local agent in your area.
The best eXp Sponsor that offers the most collaborative culture is one of the key indicators that you will be successful at eXp Realty.
Your Sponsoring Organization: Untapped Potential Partners 7 Tiers Above
Most agents are aware of the 7 tiers below in your revenue organization and the benefits. However, what most agents don’t talk about is the power of your 6 partners above your eXp Sponsor.
You have immediate access to the 7 levels of eXp Sponsors, which means you have 7 times the support. Your eXp Sponsoring Organization will also have additional tools and resources that are available to you as well. It is powerful because while your eXp Sponsor is a great resource, its like gaining 6 additional eXp Sponsors. They all bring their unique value skillsets and systems to your real estate business. What’s more, it helps you to plug in instantly and hit the ground running from day one.
Picking the Best eXp Sponsor
You have reached out to a couple of potential eXp Sponsors. Now you are ready to pick the best eXp Sponsor, but how do you choose? Is there a potential eXp Sponsor that been the most helpful? Are they easy to get in touch with and just “meshes” well with your personality? Are they kind, courteous and approachable? Chances are, they are going to continue to be the same after you have joined eXp.
If you are still picking the best eXp Sponsor, book a private one on one call with us. We will give you everything you need to make an informed decision if we are the best eXp Sponsor for you.
Why is Full Time Formula the Right Choice for Your eXp Sponsor?
eXp Realty is an unique cloud based brokerage model that offers all of their agents so many benefits. In addition to that, Maijia Donovan and her sponsoring organization Full Time Formula offers the following valuable support:
One on One Support
Navigating eXp Realty can be a challenge, but we will be there to guide you through what to expect when joining. If you are a brand new agent, we will be there as an additional support to get you started.
Weekly Live Masterminds
There are several weekly live masterminds held with the top agents and partners of our organization. This is where we talk about what is going on in the market, investing and collaborate on what is working for our businesses, along with providing additional training.
The Agent Wealth Hustle Private Slack Channel
For ease of access to all of our team members and shared resources.
Free Access to Onboarding Videos and Checklist
Developed by one of our partners, Charlie Cameron, as a guide to help you with ease to navigate through the onboarding process with eXp Realty. Only members of our organization gain access to this.
Exclusive Membership to the Revenue Share Training Academy
Over 100 videos lead by Connor Steinbrook, who has built a Revenue Share Organization of over 2,000+ agents. One of its kind at eXp and only given access to people who are part of our sponsoring organization. If building your own Revenue Share organization is something that you are interested in, this is a simple duplicatable model for easy plug and play.
Access to Weekly Live eXp Explained Presentations
To help your Revenue Share business grow easily and with the support of your partners, so you don’t have to do the heavy lifting yourself. The live eXp Explained Presentation is an interactive meeting where prospective agents learn the eXp Model correctly and have their questions answered in live time.
Exclusive Real Estate Investing Fundamentals Course
You will access to over 150 videos on how to build your real estate investment portfolio from our top investor agent partners.
Exclusive Social Media and YouTube Marketing Course
You will have access to a course on building an YouTube channel and how to become an influencer in the real estate space.
Access to our Exclusive Resource Drive
We have built in systems, resources and trainings that will help you negotiate better, communicate better and be a more productive agent. We succeed, when you succeed.
Help with Analyzing Your Real Estate Investment Deals
Bring all of your under contract investment deals to be analyzed by an experienced Multi-Family investor and syndication partner with over 194 units in his portfolio.
If this sounds like the organization for your, then look no further, but we understand that the eXp Model is not for everyone. What we do know is that it is worth considering, especially if you want to better you and your family’s life. Set up a meeting with us if you are interested in learning more about how eXp can 10X your real estate business and if it is the right decision for you. We look forward to meeting you and find out how we can help you on your real estate journey!
For more articles, tips and data on how to be a successful real estate agent, visit our blog homepage.
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