eXp Realty has an amazing award for top producing agents…and it’s not a paper certificate, or even an engraved plaque! It’s worth eminently more. It is worth potential tens of thousands of dollars. This award is called the ICON Award.
The eXp Realty ICON Agent Award currently provides each qualified ICON agent with up to $16,000 in publicly traded eXp World Holdings, Inc. common stock upon the achievement of certain production and attendance goals within an agent’s anniversary year.
The company’s cap is presently set at $16,000, one of the lowest in the industry. Through the program, qualifying ICONs effectively can earn up to their entire cap amount back in the form of stock.
Details of the ICON Agent Award
The eXp Realty ICON Agent Award is aimed at attracting and incentivizing top agents into eXp Realty. Here are some of the goals to qualify:
Cultural goal: Demonstrates company culture through giving back by: Teaching a class, serving on a panel or serving on a committee; and
Cultural goal: Demonstrates a willingness to promote eXp Realty within their community.
Production requirement: $16,000 paid in company cap (roughly $80,000 GCI) and an additional number of transactions that make up a minimum of $5000 in transaction fees (typically 20 transactions). Within one anniversary year. OR
Production requirement: Annual gross commission income of $500,000 or more with a minimum of 10 closed transactions and payment of an “ICON Qualifying Fee” equal to $5,000 less capped transaction fees paid during the same anniversary year. (aimed at agents who sell high-dollar luxury homes.)
Award Breakdown: $12,000 in publicly traded eXp World Holdings common stock is awarded and vests after three years, and an additional $2,000 will be issued after verified attendance at each company event (The eXp Shareholder Summit and EXPCON) with no vesting period, for a possible total of $4,000.
Also Required: Approval by the ICON Vetting Committee
Commercial Agents Are Eligible ICON Program
We are excited that the company launched the Commercial ICON Program on May 1, 2023. This exciting change will allow our valued and talented commercial agents to ICON and participate in Cultural Commitment and Event awards, as well. Details for commercial ICON agents:
Each Capping Period, the agent must meet ONE of the following Production Requirements
1. Paid Company Dollar Cap of $20,000 and Capped Status Transaction Fees of $5,000, OR
2. Paid Company Dollar Cap of $20,000 and annual Gross Commission Income (GCI) of $500,000
or more with a minimum of ten (10) closed transactions and payment of an ICON Qualifying
The Financials at eXp Realty
Agents have a 20%/80% split on each transaction (20% to the company) until they have paid $16,000 into the company, which is capped. After they “cap”, they keep 100% of their commissions, minus the $250 transaction fee (which is reduced to $75 after transaction fees total $5000, which qualifies them for ICON status!)
No desk fees, no franchise fees and no royalty fees.
Additionally, there are the following fees:
- $85 / month technology fee (includes eXp World)
- $40 / per transaction risk management fee (caps at $500)
- $25 / per transaction broker review fee
- One time $149 start-up fee
If you are a top producing agent or team in Maryland, eXp Realty wants to reward you. That’s why top teams are joining eXp Realty all over the country and in three provinces of Canada. At eXp Realty, we believe agents are the center of the company, not brokers. As the ones who are actually doing the business, building the brand, and creating the culture by your professionalism, we believe in awarding YOU.
How has your broker awarded you lately for top production? If you got a paper certificate or a plaque at the company meeting, consider that you’re worth much, much more…
Contact Us for a Conversation. 301-401-5119.
Anyone can watch the weekly mastermind recorded in eXp world: ICONversations on the eXp Realty YouTube Channel. Learn from the best!
eXp Realty is a publicly traded company. Check out EXPI on the Nasdaq.
*The award is not guaranteed to stay the same amount every year. As the company grows, the stock awards are subject to change.
Disclaimer: This is not an official communication from eXp World Holdings, or it’s subsidiaries. Chris Highland is an independent contractor with eXp Realty.