Beginning Nov. 1, eXp brokers may have entry to new income streams, particularly those that attain the digital brokerage’s ICON standing, eXp World Holdings CEO Glenn Sanford mentioned at eXpcon Miami.
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EXp Realty rolled out modifications to its agent income sharing program earlier this week in an try to strengthen one in every of its recruiting instruments by rewarding prime producers on the digital brokerage, executives introduced Tuesday.
Beginning Nov. 1, eXp Realty brokers will acquire entry to the “ICON Incentive Program” and the “Revenue Share Capping Incentive Program,” executives introduced earlier this week throughout eXp’s eXpcon convention in Miami.
“These initiatives reflect our deep commitment to empowering agents in an ever-evolving industry,” Glenn Sanford, CEO of eXp World Holdings, mentioned in an announcement. “At eXp, we know that when our agents thrive, so do we. These programs allow our agents to unlock new income streams, scale their businesses, and further leverage our agent-centric model to build wealth like never before.”
The ICON Incentive Program applies to brokers who attain the corporate’s ICON standing, which is achieved by reaching sure dollar-cap metrics,” executives mentioned in an announcement. This system will credit score brokers with ICON standing with 30 “Front Line Qualifying Agents” for 13 months, maximizing income share potential throughout this system’s seven ability ranges, based on the assertion.
EXp additionally mentioned brokers who cap from closed transactions will probably be credited with 10 FLQA, which it mentioned maximizes incomes potential via stage 5 for 13 months.
“These programs are rolling out at a critical time for agents in the real estate industry,” Sanford mentioned. “We are not just rewarding performance, but empowering entrepreneurial agents with the tools and incentives they need to stay ahead in a rapidly changing market. eXp Realty continues to push the boundaries of what a real estate brokerage can offer.”
EXp Realty paid $232.6 million in income share and fairness advantages to brokers and brokers in 2023, the corporate reported earlier this yr.
The lion’s share of the payouts — $197.9 million — got here from income share. The remaining $34.7 million got here from 2.2 million EXPI inventory shares.
