Sponsor and mentor aren’t the same word, but in daily life sponsors and mentors often look a lot alike. When you’re first joining eXp Realty, it can be hard to distinguish the difference between them, especially since both have a similar role of helping you through the process of joining and growing at eXp.
However, sponsors and mentors have very different jobs at eXp Realty. Here is how it breaks down for each of them:
eXp Sponsors
A sponsor is the person most responsible for your decision to join eXp Realty. They likely introduced you to the brokerage and encouraged you to join because of the many benefits.
After a lot of debate, you finally decided to join eXp! During the application process, you are asked to choose a sponsor, someone who led you to the company. This sponsor will guide you through the entire application process.
After you are accepted into eXp and start working, your sponsor technically doesn’t have a further obligation to help you. However, many will still offer to assist you with various things.
For an example, you can find out more here about one of the best sponsor groups at eXp Realty. Agent First Group offers tons of marketing benefits for agents that choose to be a part of their group.
Remember that you cannot change your sponsor once you have joined eXp. Choose wisely–make sure your sponsor will provide you with the guidance and benefits you need to do better in your real estate business.
eXp Certified Mentors
Agents who are new to the real estate business and have completed fewer than 3 transactions in the last 12 months will be assigned a certified mentor from eXp. A mentor will assist new agents with completing sales, answering real estate questions, writing contracts, and providing that mentorship that new agents desperately seek.
A mentor will guide a new agent through their first three transactions at eXp Realty. For this period, the commission split will be a little different. To help compensate the mentor and pay for the expenses of eXp University (a required educational program for agents in the mentor/mentee program), your first three transactions will be split 60/40 instead of 80/20.
Although not all agents need a mentor, it can be especially helpful to have a mentor if you are new to the business and would like extra guidance. Mentors are experts in the field of real estate and will help you see your first few transactions through to success.
The Bottom Line
eXp sponsors and mentors are two different but very important people. A sponsor at eXp Realty is responsible for bringing on a new agent initially. They can provide further help for agents but are not required to do so. Think of sponsors as a referring agent–they are referring you to eXp.
A mentor at eXp Realty is responsible for helping new agents get their foot in the door and do their best work. Mentors are compensated to guide new agents for the first three transactions which are an immense help.
If you’re considering joining eXp, or have already decided to do so, make sure you choose a good sponsor! And if you’re assigned to a mentor, listen carefully to what they have to say. If you do, you’ll be seeing success as a real estate agent in no time!