Are you interested in joining eXp Realty, but your feet are firmly planted on square one?
If so, who do you ask for help? Well, you’re going to need a sponsor.
It’s hard to ignore that so many agents and brokers have migrated to eXp Realty in recent years.
That’s why eXp Realty stands as one of the fastest-growing brokerages in the world.
In this post, I’ll teach you how to choose the best eXp Realty sponsor so you can get in on the action.
What Is an eXp Sponsor?
When a potential real estate agent is interested in joining eXp Realty, they must first be sponsored by an existing agent.
There isn’t a way to become an agent or associate broker at eXp Realty without a sponsor who is already working at the brokerage.
This process is probably foreign to many agents in the business.
However, when it comes to climbing the ladder at eXp, having a sponsor who can advocate for you is invaluable.
How come? Under the revenue share model used by eXp, all the agents are in charge of the brokerage’s expansion efforts.
And since each sponsor offers something unique to their associates, picking the appropriate one is crucial to your career success.
If you join the brokerage and designate your sponsor as such, they will be eligible to receive a revenue share from the eXp.
This figure is based on the volume of business you generate.
Agents and associate brokers that they sponsor into eXp Realty are reimbursed for their efforts in helping eXp Realty expand.
This also ensures a seamless transition into eXp Realty and its systems and a fruitful commercial relationship for both parties.
How Important Is It to Choose the Right Sponsor?
It’s important to note that eXp’s sponsorship procedure differs significantly from that of other brokerages.
To join eXp Realty, prospective agents must identify a current eXp Realty agent who will serve as their “sponsor.”
This bypasses the traditional real estate broker interview process.
Because your experience at eXp Realty will be shaped in large part by the person you choose to sponsor you, this is a crucial decision.
Your future sponsor should be one with a focus on how you and they will benefit each other’s real estate careers.
Can the real estate agent you’re thinking of asking to sponsor you actually assist you in starting the kind of business you want to launch?
Do they have the successful business and personal lives that you envision for yourself?
Clearly, the choice of a sponsor has an impact on your future at eXp Realty and the outcomes you hope to attain.
You can find a sponsoring eXp agent anywhere, which is fantastic news for those who aren’t sure how they’ll go about identifying their sponsor.
You can have a sponsor, and they don’t even have to live nearby.
Sponsors can be found in many places, including Facebook groups, real estate conferences, YouTube, and the blogs that you follow.
Related Reading: eXp Realty Pros & Cons – Read Our Deep Dive Here.
How To Choose The Right eXp Realty Sponsor For you
Preferably, your sponsor should be the agent who initially persuaded you to sign on with eXp.
An excellent eXp sponsor isn’t necessary, but they will enhance the benefits you receive from the brokerage.
A sponsor’s true worth and influence extend far beyond their role in persuading you to join eXp.
Eventually, choosing the perfect eXp Realty sponsor can mean the difference of a million dollars or more!
Although it is not specified in the job description, it is generally understood among eXp agents that it is the sponsor’s responsibility to ensure a seamless transition from the agent’s previous company to eXp.
Many agents moving from traditional brokerages are unfamiliar with the work style of eXp’s cloud-based brokerage tools.
Your sponsor’s job is to ease the transition by giving guidance, referring you to relevant resources, and automating as much of the process as possible.
Here are the top factors to consider when choosing your sponsor:
Assess The Community They’re A Part Of
I suggest checking out the community that a potential eXp Realty sponsor has established or is a part of before committing to working with them.
When you join eXp, you’ll have the opportunity to participate in a wide variety of teams and groups.
Each one has special perks that assist independent sales agents succeed in their careers.
They also provide the opportunity to socialize.
Keep in mind that just because your sponsor has a “team” or “group” name doesn’t imply you have to adopt that brand yourself.
The majority of these teams and groups have independent names that merely mean you are a part of that particular leader’s group.
Study Their Track Record For Sales
You should also remember that your sponsor has a vested interest in seeing you succeed financially.
This is both in terms of sales commissions and revenue share growth.
You should look for a business partner that has already established themselves as a successful real estate marketer and revenue generator.
Revenue Share is a program whereby eXp Realty gives back to the agent that sponsored them a portion of the company’s overall commission earnings.
To sum up, agents divide their first $80,000 in annual gross commission (after expenses) 80/20 with eXp Realty.
eXp keeps 20% for themselves and gives 50% back to the sponsor and the rest of the upline.
All agents’ part of the revenue is taken directly from the commissions.
Familiarize Yourself With Their Tools and Systems
It’s crucial to think about a sponsor’s available resources before making a decision about who to work with.
Sometimes, how skilled a leader someone is matters less than how much potential their team has.
Is your prospective sponsor stable enough to fulfill its current and future obligations?
When it comes to heading a team, do they have the proper infrastructure in place?
Are you able to expand into new areas using the same systems, or will they bottleneck your progress?
These are vital questions to ask yourself.
Sponsors may vary wildly.
Some are fantastic at running the business, but can they inspire hundreds, if not thousands, of other agents to do the same?
And do they have a tried-and-true method for helping you expand your own ventures?
Fact: At eXp Realty, less than 5% of all agents have sponsored more than five other agents.
Also, did you know that only 3% of eXp’s agents have reached the top sales level of ICON?
If any of these is something you’re considering, wouldn’t it be wise to collaborate with someone who has experience in both areas?
That person would act as your mentor.
It is crucial to identify someone who will be there for you when you need them.
I know eXp doesn’t mandate that you have a named sponsor after you’ve been onboarded.
Still, someone who can guide you along the way would be beneficial.
The level of enthusiasm and commitment your sponsor has for the real estate industry, and eXp Realty will reveal a lot.
When a person is enthusiastic about what they do, you can trust that they will be there for you when it matters the most, rather than just for the profit.
You should look at their work to determine if they have a history of assisting agents.
Some folks are just looking to sign you up to obtain the income share.
Remember, many agents are excellent salespeople and will try to convince you to choose them as your sponsor!
Related Reading: eXp Realty Vs. Keller Williams – Which One Is The Best.
More Tips For Choosing A Sponsor
- Make your goals transparent to a potential sponsor and decide how much time you can commit to revenue sharing.
- Jot down one thing that is the MOST essential to you when it comes to added value. This will help you narrow down your choices. Perhaps you want help in social media marketing, team building, investing, sales, and so on.
- Inquire about their level of accomplishment in generating revenue sharing on an individual basis.
- Learn about the income-sharing results achieved by their sales agents.
- Find out how much time they spend assisting their sales reps. Determine whether they have a regular time slot set up each week to work on that task.
- Evaluate whether or if their process for attracting agents is straightforward and easy to follow. Don’t be afraid to ask questions.
- Keep in mind that your eXp sponsor will be your business partner and that you will have a hard time switching sponsors. Of course, you’ll have to like the person you’re working with!
Examples of Successful eXp Sponsors/Sponsor Groups
Tim & Julie Harris
Some teams use training for downline reps as the main selling point to attract sponsors.
With more than twenty years of coaching under their belts, Tim and Julie Harris are true experts in their field.
They head up the HARRIS Certified Coaches, the Harrises’ own real estate coaching organization that operates under copyright.
The Harris partnership takes advantage of pooling expertise by establishing a support system of coaches.
Alongside their successful brokerage, Tim and Julie Harris also manage their own thriving real estate content publishing company.
They have a podcast that covers topics including business strategy, lead generation, and market news.
As a part of their services, they offer a variety of coaching programs and often publish articles on industry trends.
The Harrises are a perfect illustration of the types of coaching resources agents should want in a sponsor.
They provide several options for agents, each of which comes with a different level of personalized care and support.
The topics covered range from established corporate protocols to “mindset systems” and other forms of psychology-based instructions for real estate professionals.
A career change to eXp Realty may appear more precarious to seasoned agents who are already established in their fields.
Thanks to sponsors like Brent Gove, agents may learn from others who have already walked in their shoes.
Gove’s career spans several decades with two major national real estate firms.
He is most known for growing Keller Williams into a $100 million agency.
He was hesitant at first to switch brokerages, but eXp rapidly won him and his business over.
After several years of enjoying the perks afforded to eXp Realty agents, he is now a vocal proponent of the company.
His success with eXp in the highly competitive Sacramento, California, market has reassured him of the company’s ability to expand into other, more distant markets.
Gove is very good at “agent recruitment,” the process of attracting new real estate agents to work for eXp Realty.
He’s been with the online brokerage for some time now and has earned a name for himself as a recruiter of new agents.
As a result, he has amassed a sizable downline and the accompanying revenue-sharing advantages.
Those interested in joining eXp for the purpose of recruiting rather than for the sake of selling real estate may find these experiences and insights to be quite beneficial.
The real estate industry is dominated by several well-known figures.
Jay Kinder is a model of how outsiders may successfully penetrate and thrive in the field.
By the time he was 30, Kinder had gone from being a kid in a rural Oklahoma town to a multimillionaire known for his innovative business practices.
During his rapid ascent to prominence, he earned a reputation for employing unorthodox strategies for expanding his business.
He even turned to more conventional forms of advertising like radio and television, an audacious move that looks to have paid off.
His success demonstrates the feasibility of the “get rich quick” strategy used by some agents.
In his late twenties, Kinder had already begun to shift his focus from refining his personal success model to helping other agents achieve their goals.
He started Kinder Reese Real Estate Coaching and Training along with Michael Reese as a partner.
Before Kinder brought everyone over to eXp Realty, this association grew into what is now called the National Association of Expert Advisors (NAEA).
Hundreds, if not thousands, of agents have benefited from his instruction throughout the years.
The benefits of having a sponsor like Jay Kinder may be broken down into two categories: the professional and the personal.
He can teach you to embrace your unique personality and develop your own story for your own benefit as a new agent.
Creating a successful persona is crucial in a field where success fosters (more) success.
Thrive Real Estate Network
When it comes to expensive technology, some groups pool their resources and knowledge as a draw for new members.
One of Thrive’s primary benefits for agents is allowing them to increase their output and expand their businesses.
The members of Thrive work together to ensure everyone’s success rather than depending on any one person or thing to propel the group forward.
If you’re looking for support and a community, the Thrive Real Estate Network is where you should be, even if you want to work solo.
Several of the group’s members are well-known, successful figures in the real estate industry.
For example, Thrive co-founder Sean Goerss learned the real estate business from the ground up at his family’s firm.
He is now focusing on assisting the Thrive community in developing tools to help its members achieve similar levels of success.
We covered how eXp Realty’s revenue sharing model sets it apart.
The more an agent invests in the business concept and helps the company grow, the more money they will make.
Gene Frederick has dedicated himself entirely to the company.
He is now a Director at the brokerage and an example of rising through the ranks.
Frederick joined eXp Realty in 2015 after working in real estate for 30 years.
As a brokering leader and sponsor, he has built a sizable “downline” that probably brings in millions in passive income.
Part of his success at eXp can be attributed to the brokerage network he established while working at Keller Williams.
After making the switch to eXp, he immediately began capitalizing on his extensive personal network to expand his business swiftly.
Sponsorship with a well-known figure like Gene Frederick is most beneficial when it teaches important lessons about how to manage profits.
He is a model of how an eXp agent may use their skills as a recruiter to build a strong downline of their own.
You’re probably here because you’re either at a loss for who to register as your sponsor.
Maybe you aren’t sure if the person you’ve settled on is the right fit.
Each agent will have different needs and preferences.
The fact that there isn’t a single best strategy means that you should learn from the agents in your brokerage who have worked with various sponsors before.
If you’ve worked solo thus far, it certainly won’t hurt to do your research and start networking.
Only you can determine the perfect sponsor to work with.
The good news is there are so many sponsors to choose from because of eXp’s business model.
With so many agents joining eXp Realty, it looks like the best eXp sponsors aren’t that hard to find.