When you have a great year in real estate, it’s affirming to get that award in front of all your associates, isn’t it? Then you post it on social media to remind your friends and clients that…”oh, yeah…they sell real estate…and they do a good job of it, too!” Affirmation and marketing all rolled into one.
Then what do you do with that award? If you are like us, it goes in a box with all the others eventually…and that box gets put in the attic eventually.
eXp Realty Awards – Certificates That Have Real Value
The awards agents receive with EXP Realty involve certificates that are real assets…not just paper recognition. Agents are awarded for several milestones:
- Stocks are awarded upon your first transaction with the company…each year. This is a thankyou for staying with the company, and I believe it is unheard of, at least in my experience. When has your broker thanked you monetarily for staying with the company?
- When you reach your annual cap, which… is $16,000 roughly $80,000 GCI, you receive a stock award. (This bonus is another thankyou from the company…in addition to the rest of the calendar year at 100% minus fees.)
- Agents receive stock awards when they sponsor an agent in to the company…upon that agent’s first transaction.*
- Icon agents receive their entire $16,000 back in stocks. *Icon agents are agents who do 20 transactions after they cap, or a certain dollar amount if they have fewer sales in higher home prices. Yet another thank you from the company for high producing agents.
*All of these stock awards have a vesting period.
Stock Purchase Program
EXP agents have the option to participate in the eXp Stock Purchase Plan (aka “Agent Equity Program”). Agents receive a 10% discount on EXPI stock when they allow eXp to withhold 5% of the commission generated from the agent’s transaction. The stock price and number of shares issued is determined by the closing market value of the last trading day of EXPI stock for the month. There is no vesting period for this stock and agents can opt in or opt out any time.
We think this is an excellent benefit to grow our stock portfolio. Just Google EXPI and check the stock price today…and consider that our first stock purchase in 2015, when we joined the company, was for .60 cents a share! Of course, those days of penny stocks are gone, but to get stock in your company at a 10% discount is always a good value.
We love to log in to our Enterprise dashboard and see which stock awards are vesting next. A few shares here, a few there…they really add up over the years. It is great to get rewarded for doing what we would do every day…help people buy and sell their homes.
These “certificates” are adding to our retirement bottom line, and no longer fill the box in our attic!