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Be a Team Player
Traditional Team
This team format is the most common in the real estate industry. At eXp, the team leader has a $16K cap (with an 80/20 commission split) and the agents on the team have a half cap of $8,000. The agents on the team pay a minimum commission split of 75 / 25 to the team leader for all of their transactions in addition to contributing to their annual eXp cap.
Here’s an example of how the traditional team commission splits would break down at eXp Realty:
- Team member sells a home that generates $10,000 in commission
- $2500 (25%) would go to the team leader (and that amount applies to team leader’s annual cap)
- Of the remaining $7500, 20% ($1500) would be shared with the broker **
- The team member would net $6,000 (minus any miscellaneous fees)
** Once the team member reaches their annual cap of $8000, they only pay a small transaction fee to the broker.
Team Requirements: In order to be recognized as a Traditional Team at eXp Realty, your team needs to have closed at least $6.0M in business or 30+ transactions in the last 12 months. Also, the team leader must submit a team roster as well as a written team agreement to eXp that is signed by each agent. If you don’t have a team agreement, eXp does offer some standard agreements that you can use and/or customize.
Mega ICON Team
If you have a large team with 10+ agents, the Mega Icon Team structure at eXp Realty is a perfect option. Each agent on the team has a quarter cap of just $4,000 and like the traditional eXp team model, the team leader’s commission cap remains at $16,000.
eXp Realty Team Requirements:
- In order to be considered a Mega Icon Team at eXp Realty, your team needs to have sold 175 homes or $40M+ in closed transactions in the last 12 months.
- The Mega Team will have a combined $56,000 cap (10 agents x $4K + $16K for team leader). This team commission cap is required each year, even if all the agents on the team don’t reach their individual cap. This is a bit more of a challenge for a team with 10 agents but is a huge plus for those of you that have a larger team of 20+ agents.
- Team leader must submit a team roster as well as a written team agreement to eXp Realty.
Self Organized Team or Group
This eXp Realty team format is quite common with real estate agents who are just starting a small team or partnership. Under this structure, all of the agents in the “group” pay the regular $16,000 annual cap (80/20 commission split) and there is no minimum commission split that needs to be shared with the team leader.
While a reduced cap is always attractive when setting up a team, there are several benefits to forming a Group:
- No formal team agreement is required.
- The minimum 25% team commission split is not required (you could have a 10% split, for example).
- Agents on the team still qualify for eXp stock awards for ICON agent and reaching their annual cap.
This is a great option for those who would like to begin building their brand and testing out the team structure or for those teams that have high producers who qualify for the ICON agent stock award (where they receive up to $16K back in stock each year.).
Domestic Partnership
This team structure is for those who are legally married and would like to join eXp Realty as a team. No written agreements or team commission splits are required and this partnership can be dissolved or established at any time during your time with eXp.
Teams at EXP Realty
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