Teams are an important part of every real estate office. When a client hires a team, they are hiring the combined experience and diligence of each team member. This allows the clients to expect more, and the team to deliver more. It’s a great way to give a client the confidence they need to move forward.
At eXp, there are defined team models with defined compensation arrangements.
A Self-Organized team is the first team tier with eXp. It has a $16,000 cap per team member. This is inclusive of the team leader. The commissions are split with the team leader first, and then with eXp. The amount of split between the leader and agent(s) is mutually agreed upon, whereas the split with eXp is 80/20.
The next level up for eXp teams is a Standard Team in which team agents are placed at half the cap of the team leader. Also, one fourth of all the team agent’s deals under a specific team leader must be split with that team leader. To attain this level, a team leader needs to have closed six million in sales or thirty transactions in the past rolling 12 months.
Above the Self-Organized and Standard Teams is the Mega ICON Team. This team is compensated the same as the standard team, except agents have only a $4,000 cap, compared with $8,000 for the Standard Team. To qualify for this level of compensation, a team leader needs 40 million in sales closed, or 175 transactions in the last rolling 12 months.
As a side note, eXp has a Domestic Team arrangement for married couples. They enjoy a shared cap of $16,000 and have one line of revenue share.
There are many opportunities for agents to work in highly productive, and highly rewarding team environments at eXp. Contact Ben Harper and Hawaii Elite Real Estate to find out how you can benefit.