At the core of eXp Realty’s innovative brokerage model is the concept of ‘sponsorship,’ in which eXp agents who sponsor other agents into the brokerage receive compensation for helping the brokerage grow. In this blog post, we explore what being an eXp Realty sponsor entails and its unique framework, setting the stage for important details about how this model has helped hundreds of agents retire with wealth.
What Is eXp Realty’s Sponsorship?
Sponsorship at eXp Realty is not just a formal title or a nominal association. It’s a dynamic, multifaceted partnership that empowers agents with the tools, knowledge, and support necessary to thrive. From guiding new agents through the complexities of the real estate market to providing ongoing mentorship and resources, sponsors play a crucial role in fostering growth and development.
In the program, an eXp Realty sponsor is a licensed real estate agent already with eXp who influences another agent to join the brokerage. This sponsoring agent is responsible for initially bringing in a new agent and may provide further assistance, although this is not mandatory. The sponsor-agent relationship typically lasts for the duration of an agent’s employment with eXp Realty.
The sponsorship program at eXp Realty focuses on real estate agents supporting one another within the agent-centric brokerage. This environment fosters a sense of collaboration and mutual growth among agents where experienced members can guide and assist newer ones in navigating the real estate landscape under the eXp Realty Model.
The Importance of Choosing the Right eXp Realty Sponsor
Choosing the right eXp Realty sponsor is a decision that holds immense significance in shaping an agent’s career. The eXp sponsorship model isn’t just a mere formality. It’s a strategic partnership that can profoundly influence an agent’s trajectory within the real estate industry. The right sponsor acts as a mentor, a guide, and a career accelerator.
Given the unique business model of eXp Realty, a sponsor’s role extends beyond traditional mentorship. They provide personalized guidance, helping agents leverage the myriad resources and tools that eXp Realty offers.
eXp Realty Sponsorship influences agents’ career development. A well-chosen sponsor not only helps agents integrate seamlessly into the eXp Realty environment but also plays a pivotal role in their ongoing development and success. A sponsor’s wisdom and experience in the field are key to unlocking potential growth paths and avoiding common pitfalls in the real estate business. Remember, over 80% of real estate agents fail in real estate…so any little bit helps!
eXp Realty sponsors contribute significantly to the business success of their agents. They serve as a primary source of support in business planning, marketing strategies, and client engagement tactics. By sharing proven methods and resources, a sponsor can help an agent quickly adapt and excel in the competitive real estate market.
The Role of a Sponsor in eXp Realty
An eXp Realty sponsor plays an indispensable role in aiding agents as they transition into the unique ecosystem of eXp Realty. The transition process can be intricate, especially for agents new to eXp’s innovative model.
Sponsors guide agents through the initial phases of integration, offering insights into the company’s digital platform, operational processes, and the expansive range of tools available. The eXp sponsorship model is designed to smooth out these early stages, making the transition as seamless as possible for new agents.
This guidance is crucial in helping agents adapt to the eXp Realty environment, ensuring they can leverage the full spectrum of resources from the outset.
Beyond the transition phase, an eXp Realty sponsor is instrumental in helping agents thrive within the company. Thriving in this context goes beyond mere survival. It means excelling in sales, building a robust client base, and growing a sustainable real estate business.
Mentorship is a cornerstone of the eXp Realty sponsorship program. A sponsor serves as a mentor, offering guidance, knowledge, and support to their agents. This relationship is a blend of professional coaching and personal advising, tailored to the individual needs of each agent.
The role of an eXp Realty sponsor is multi-faceted and extends throughout an agent’s career at eXp Realty. From assisting with the initial transition to ongoing mentorship and support, sponsors are a pivotal component of an agent’s journey, ensuring their successful integration, growth, and prosperity within eXp Realty.
Criteria for Identifying an Excellent eXp Realty Sponsor
Contemplate these guidelines when it comes to choosing the best eXp Realty sponsor:
1. Community Building Abilities
A hallmark of an excellent eXp Realty sponsor is their ability to build and nurture a community. This goes beyond just creating networks. It’s about fostering an environment where agents can collaborate, share experiences, and support each other’s growth.
Excellent sponsors understand the power of a strong community in the real estate industry and actively work to create inclusive, engaging, and resourceful platforms for their agents.
2. Robust Support
Support is a key attribute of any successful eXp Realty sponsor. This includes offering one-on-one mentorship, being available to answer questions, and providing guidance through various challenges that agents might face.
An excellent sponsor is not just a guide during the initial stages but is also a dependable resource throughout an agent’s career. This ongoing support can take many forms, from helping with complex transactions to offering advice on work-life balance.
3. Comprehensive Training
Training is another critical criterion for an excellent sponsor. A good eXp Realty sponsor provides comprehensive training programs that are up-to-date with the latest trends and techniques in the real estate industry.
These programs should cover a wide range of topics, from sales strategies and marketing techniques to using eXp Realty’s technology platforms efficiently. The best sponsors often go beyond standard training modules, offering customized training solutions based on individual agent needs and learning styles.
4. Availability of Resources
Access to resources is a significant factor that sets excellent sponsors apart. This includes a range of tools and materials such as marketing templates, sales scripts, listing presentations, and technological tools.
An excellent eXp Realty sponsor ensures that their agents have everything they need to succeed, from educational materials to practical tools for their daily operations.
5. Offering Unique Services
Lastly, excellent sponsors often provide unique services that add significant value to their agents’ business.
This could include specialized services like professional photography for listings, access to exclusive market data, or innovative technology solutions. These services not only give agents an edge in the market but also demonstrate the sponsor’s commitment to their agents’ success.
Solo Sponsors vs. Sponsor Groups
Not all sponsors are created equal. Some agents are “solo sponsors” which usually means they do not have an infrastructure or time to support other agents. But you also have “Sponsor Groups” (e.g. the Agent First Group) where there is a network of agents that provide community, support, training, resources, and services for agents partnering with them.
Now, what’s absolutely necessary regardless of the route you decide to go is asking for receipts from any potential sponsor. You want to ask for evidence of success for agents that have joined the sponsor you’re considering going with.
Again, as an example…here are a few from the Agent First Group, powered by eXp Realty!
1. Franco
Franco refers out 30 transactions in a single month, all sourced from his YouTube channel. He built a multi-million dollar business in a short 18 months of being part of the Agent First Group.
2. Kimberly
Kimberly consistently lists 1-2 homes per week. She leverages the training, support, and resources offered by the Agent First Group to be extremely effective with her listing strategy.
3. Lor
Lor increased his transaction count from 18 in 2022 to 46 transactions in 2023. That’s right…he DOUBLED his real estate transactions in just one year!
4. Michelle
Michelle closed an impressive $10 million in real estate within 5 months of joining the Agent First Group. She utilized organic strategies, demonstrating the effectiveness of non-paid marketing techniques in real estate.
5. Jared
Jared closes 2 additional transactions while working 4 hours less per week thanks to the leverage he has built. He is more effective at lead generation now, and has also improved his closing techniques.
And there are MANY more success stories that can be shared about the Agent First Group. Today, this is the leading sponsor group at eXp because of the community, support, training, resources, and services it provides to agents.
Diverse Value Offerings Of Sponsors
Now again, not all sponsors at eXp Realty are the same. So, understanding the differences between the sponsors is a MUST! At Agent First Group, we add value to your career as follows:
- Fostering a Culture of Collaboration and Growth: We thrive on a culture that emphasizes collaboration and growth. This is evident in our use of diverse platforms and media for both offline and online connections.
- 24/7 Support for Our Agent Network: We provide round-the-clock support to our entire network of agents. Whether it’s questions about contracts, negotiation techniques, or marketing strategies, we’re here to help.
- Top-Tier Training for Real Estate Agents: Our group boasts one of the best training approaches for real estate agents. You’ll find our training materials covering topics like social media, personal branding, video marketing, objection handling, and more, designed to enhance your skills and knowledge.
- Resources and Tools for Lead Generation and Conversion: We equip you with resources and tools crucial for lead generation and conversion, ensuring your business scales to new heights.
- Professional Video Editing for Social Media Channels: Our team also provides video editing services tailored for various social media channels, helping you maintain a strong and engaging online presence.
At Agent First Group, we’re not just a team; we’re a support system committed to propelling your real estate career forward with comprehensive services and resources.
Takeaway
At eXp Realty, sponsorship is more than a title. It’s a multifaceted partnership that equips agents with the essential tools, knowledge, and support vital for thriving in the competitive real estate landscape.
From guiding newcomers through the complex market to providing ongoing mentorship, a sponsor’s influence is deeply ingrained in an agent’s career progression and success.
Understanding what eXp Realty sponsorship is and the pivotal role of a sponsor highlights the immense value of this strategic partnership. Whether it’s facilitating seamless integration into eXp Realty’s innovative model or aiding in long-term career development, the impact of a well-chosen sponsor is undeniable.
Furthermore, this partnership is instrumental in ensuring agents not only survive but excel in their business endeavors, leveraging the unique resources and opportunities available at eXp Realty.
The criteria for identifying excellent sponsors—such as community building, robust support, comprehensive training, resource availability, and unique services—are key considerations. These attributes set the stage for a thriving professional relationship, empowering agents to reach new heights.
Additionally, understanding the dynamics between solo sponsors and sponsor groups like Agent First Group provides valuable insights into the diverse paths to success within eXp Realty. If you want to learn more about Agent First Group and how we can help you, contact us!
eXp Realty Sponsor FAQs
Does Choosing a Sponsor at eXp Affect My Commission Split?
Simply put, selecting a sponsor at eXp Realty does not alter your commission structure; you will continue to receive the standard 80/20 split. eXp Realty retains 20% of each agent’s commission up to the standard cap of $16,000. This amount is divided, with half being allocated for brokerage necessities and the remaining half distributed as revenue share among sponsors who have contributed to the company’s expansion.
Who Can Be Eligible as a Sponsor Within eXp Realty?
At eXp Realty, the opportunity to become a sponsor is open to all active agents within the company, irrespective of their experience level in real estate or their tenure with eXp Realty.
Do I Have To Pay To Be Part of the eXp Sponsorship Program?
No, you don’t. You can be a sponsor as long as you pay your monthly dues, regardless of whether you sponsor an agent.
What Should I Consider In Choosing a Sponsor at eXp Realty?
When considering a potential sponsor, it’s important to inquire, “How can you assist in the growth of my business?” A good sponsor should clearly articulate their approach to supporting you and ideally share examples of other agents they’ve successfully assisted.
If a sponsor lacks concrete responses or success stories, it may indicate limited assistance in advancing your business.
However, this doesn’t automatically disqualify them as your sponsor. The primary factor in choosing a sponsor should be their influence on your decision to join eXp Realty. But be mindful that selecting a sponsor with limited offerings means you might need to independently navigate your business growth with minimal support from them.
Who Provides You With the Best eXp Realty Sponsor Benefits?
Currently, some of the most advantageous eXp Realty sponsor benefits are offered through the Agent First Group, a group I founded to provide these complimentary benefits to agents. The Agent First Group offers a suite of resources including:
- Community: Engage in frequent meetings with fellow agents from Agent First Group and connect with top producers globally for shared learning and networking.
- Support: Benefit from a dedicated support team available 24/7 to assist with any needs you may encounter.
- Training: Access personalized coaching, group training sessions, and various programs designed to grow your business using strategies from successful agents.
- Resources: Utilize a wealth of tools such as scripts, templates, ad copies, and on-demand training to gain a competitive edge.
- Services: Take advantage of our in-house marketing team for all your paid lead generation needs, complimentary video editing services, and expert YouTube management for video editing, SEO optimization, and thumbnail design.
Is It Possible To Change Sponsors at eXp Realty?
No, it’s not possible to change sponsors once you become an active agent. If you want to change your sponsor, you have to leave the brokerage for 180 days returning and naming a new sponsor. That’s why we don’t suggest this.
What Sets eXp Realty Sponsors and Mentors Apart?
eXp Realty sponsors are essentially the agents who played a pivotal role in persuading another agent to join eXp Realty. These sponsors can offer sponsorship to agents regardless of geographical location. Additionally, once an agent chooses a sponsor, this sponsorship relationship continues throughout their tenure at eXp Realty.
In contrast, eXp Realty mentors focus on guiding new agents who have completed less than three transactions in the year preceding their eXp Realty affiliation. Typically, mentors are situated in proximity to the new agent and guide the agent’s initial three transactions with eXp Realty.
While selecting a sponsor is an optional step for any agent joining eXp, having a mentor is mandatory for new agents who have limited prior transaction experience, specifically those with fewer than three transactions in the last 12 months.
Do I Need To Select a Sponsor When Joining eXp Realty?
Choosing a sponsor at eXp Realty is not mandatory. However, it is recommended to pick a sponsor who can provide access to a supportive community, offer additional assistance, and facilitate comprehensive training. While it’s beneficial, ultimately, selecting a sponsor is optional.
How Much Are Sponsors at eXp Realty Paid?
Sponsors of eXp Realty receive 3.5% of the agent’s annual earnings, up to a maximum of $2,800. Note: this is on what’s called on the “Front Line.” There are other compensation levels.
Should I Choose a Local eXp Sponsor?
Geographical location doesn’t limit your choice of eXp sponsors. Focus on choosing a sponsor who offers the most support for your business rather than prioritizing a local connection that may or may not be equipped to help grow your business.
eXp Realty already has a comprehensive structure in place, including a broker team, support staff, and mentors, to address any local-specific inquiries. Each state is equipped with a dedicated eXp support team to assist agents.
Therefore, prioritize selecting a sponsor who is best suited to enhance your business prospects and growth, irrespective of their location. Opt for a sponsor who has been a key factor in your decision to join eXp and can provide valuable benefits and support for your career development.
What Takes Place if My eXp Realty Sponsor Resigns?
In theory, eXp Realty (the company itself) becomes your sponsor if your sponsor departs. You still can’t choose a different sponsor.
All that you lose is whatever assistance your sponsor might have given you. This is why you need to select the BEST sponsor at the outset.
What Does eXp Realty Call an “Upline”?
Agents who have joined eXp Realty and sponsored other agents are referred to as “uplines” at eXp. An example is the most effective approach to clarify it.
Let’s say Amber sponsors you to join eXp Realty. Amber likely had another sponsor as well; for example, let’s assume Bert sponsored Amber. Bert was probably sponsored by someone else as well, like Candice. In this instance, your “upline” consists of Amber, Bert, Candice, and any other sponsors up the line.
Are you wondering about what we can do for you at Agent First Group? Contact us to learn more!