So, you decided to join eXp Realty, only to enter the application process and find the question, “Who would you like to name as your sponsor at eXp Realty?” If that’s you and you don’t have a sponsor in mind, you are probably confused and a bit overwhelmed, thinking :“What am I supposed to do now? What is eXp Realty sponsorship?”
Welcome to the place where you can do your due diligence and find the perfect fit for your sponsorship!
At this point, you likely have the following questions:
- What the heck is an eXp Realty sponsor?
- Who can become a sponsor at eXp?
- Can I change sponsors?
- Where do I find a sponsor at eXp?
- Why should I even have a sponsor?
These are all valid questions, so let’s talk about it.
What Is an eXp Realty Sponsor?
At eXp Realty, you have the option to name an agent who is already part of eXp as your sponsor. The “sole requirement to qualify as a sponsor is selection by the joining agent as having been the most influential person in the joining agent’s decision to join eXp.”
That means you choose the person who most heavily influenced your choice to join eXp as your sponsor. It also means that outside of being influential in your decision to join eXp Realty and helping you onboard to active status, not much is required of sponsors.
The Party of eXp Realty
Let’s imagine that eXp Realty is a party. Your sponsor is the person who told you the party was happening, shared some details, and asked you to attend. You may mull over this information for a while before you finally decide to go to the party and chat more with this sponsor.
So, you head to the party location. When you get there, you meet a bouncer at the door asking you who told you about this party. A little nervous, you tell him that “Betty did,” (choosing, of course, whoever actually invited you).
The bouncer accepts this without comment, then checks you over a little more thoroughly to be sure you’ve followed the dress code (i.e., have a real estate license) and are prepared to enter the party. Then, he lets you in.
Now, at this point, you would hope and expect your sponsor to come meet you at the door, bring you into the party, show you where the bathroom is, take you to get food or drink, and introduce you to other attendees.
Technically, your sponsor doesn’t have to do this, though. Once they get you in the door, they don’t have to do anything else! I’ve heard from many agents who enter the party (eXp Realty) and never hear from their sponsor again. Instead, they’re left alone to figure out everything for themselves.
So, this tells you what a sponsor technically is. But, sponsors can be so much more than simply inviters. Let’s find out a little more about what sponsors are and what they can and should do.
Who Can Become a Sponsor at eXp?
eXp Realty sponsorship is not difficult. In fact, anyone who is a licensed agent working within the eXp brokerage can be a sponsor. Of course, while all 89,000+ agents (at the time of this writing) CAN sponsor real estate agents, most do not.
Most eXp Realty agents focus on selling real estate. This is the main reason that eXp was #1 in sales by the number of transactions in 2022 and continues to soar past expectations. So, you might wonder why anyone would want to sponsor another agent rather than focus solely on real estate transactions. Simply put, it’s because eXp created a program called revenue share (the first of its kind).
eXp agents can receive revenue share income from the sales activity of the productive agents they sponsor. Basically, anytime an agent they’ve sponsored closes a transaction, their sponsor gets a small share of their commission.
Now, that’s awesome in its own right, but what makes eXp Realty exceptional is that it operates the revenue share program with the portion of the revenue that goes to the brokerage. The split at eXp Realty is 80/20, where 80% of the commission goes to the agent and 20% to the brokerage (until the agent caps at $16,000). Then, eXp uses 50% of that to operate the revenue share program and retains the remaining 50% for brokerage expenses.
So, eXp directly rewards every sponsoring agent for helping the company grow! Now, this also means that any agent can become a sponsor, regardless of experience…and that comes with some pros and cons.
The question you want to be asking is not just who can be an eXp Realty sponsor, but rather who is a GOOD eXp Realty sponsor.
Who Is a Good eXp Sponsor?
Now that you know how the eXp Realty sponsorship process works, it’s time to decide on YOUR sponsor. Here are the qualities you need to look for in a sponsor:
eXp Realty Experience
As a new agent with eXp Realty, you want to make sure your sponsor knows the brokerage well. Can they give you the correct counsel when you have questions (minor or major) about how the brokerage works or how to move forward in your career?
Not all counsel is cut from the same cloth. You may find a sponsor who can give you counsel…but realize this counsel is not helpful or relevant to eXp. You don’t want to operate on, as it were, “faulty wiring.” Instead, you need real counsel that will move you in the right direction.
Community
You know what they say…you’re the average of the 5 people you’re around the most.
So, who are you around most often? How do you get access to amazing people? Your sponsor should provide you with a community of agents who love the business and love helping each other succeed. But more than that, are also succeeding themselves.
Find a sponsor who has built an amazing team of people and encourages you to form relationships with agents from around the country. In so many cases, you are only as good as the people you’re with!
Support
Joining an entirely cloud-based brokerage can be challenging. So can learning the ropes in real estate, trying to get ahead of the competition in your area, owning the processes of buying, selling, and investing, choosing your niche, doing real estate marketing right, and much more!
If you need help, you need a sponsor who will be there immediately to answer your questions and offer advice. You want someone who is really and truly on your side!
Find a sponsor who offers places to connect regularly, whether that’s on Slack, on social media groups, on a centralized HUB…or even all three! Make sure access is easy and support is a high priority in your eXp Realty sponsorship group.
Training
Whether you’re brand new in real estate or have been working in the business for years, you’ll want training and support to help you continue to grow and get ahead. To create the best possible business, you’ll want one-on-one training, group masterminds, and training from some powerhouse real estate voices!
Find a sponsor who can train you (or offer trainers who have great credentials and experience); find a sponsor who offers group training sessions so you can feed off one another’s experiences and questions; find a sponsor who knows powerful real estate voices and can connect you to training opportunities with them as well!
With that kind of training behind you, your chances of success are going to shoot up exponentially!
Direct Value Add to Your Business
Does your sponsor offer education and resources that can help you reduce expenses? For example, in my group, I offer resources to help agents with marketing—my team even generates leads for agents for free!
I also offer bootcamps, accelerators, and accountability programs that provide real, actionable marketing tactics agents can use to generate more business on their own. You need a sponsor who helps you save money and/or make more money by the resources and support they offer!
Can I Change my eXp Realty Sponsor?
In short, no. You cannot change your sponsor at eXp once you join. The only way to ever get another sponsor is to leave the brokerage for at least six months and then return with a different sponsor.
Regardless of the eXp sponsor you chose, I wouldn’t recommend leaving the brokerage for that long. Regardless of who invited you, eXp is the party to be at right now.
If you feel you chose the wrong sponsor, well, it’ll just take you a little longer to get to know people or understand the benefits. But you’re at the right place! And you will get there, because eXp itself offers amazing support and lots of fantastic agents whom you can talk to through eXp Workplace or eXp World.
So, don’t leave! Just reach out and ask more questions and you’ll get there in the end.
Where Do I Find a Sponsor at eXp?
Finding the right eXp Realty sponsorship group can be overwhelming. You can use Google, search through the eXp directory, look at the MLS, etc., but you’re just going to end up with tons of choices who all think they’re the best. And you have no way of knowing if they are or not.
For just a moment, I’ll go ahead and be biased by telling you that you should start by checking out the Agent First Group (AFG). Our group offers:
- Community – A huge group of agents who meet together multiple times a week to encourage one another, offer advice, ask questions, and have fun!
- Support – A dedicated staff of team members dedicated to helping AFG agents succeed.
- Training – In-depth training sessions offered by some of the highest-producing agents in the world.
- Resources – A wide selection of resources to help you with marketing, lead generation, understanding real estate transactions, and working with your team.
- Services – Special services such as lead generation or YouTube marketing to help you get the most out of your marketing practices.
Agent First Group is here to help agents make more money while spending less time working. And what could be better than that?
Final Thoughts – Who is the Best eXp Realty Sponsor?
Full disclosure: I am biased! But I love working with the agents in the Agent First Group. We have brought together an amazing group of agents dedicated to helping support and encourage one another throughout their real estate careers. And we have so many resources to help agents get ahead!
In the end, going with the right eXp sponsor for you can be the single factor that makes it possible for you to harness the full potential of eXp realty and reach new heights in your business.
If you’re looking for the best eXp Realty sponsorship group, reach out to me to learn more about the Agent First Group and determine if this is indeed the right fit for you.