Starting Nov. 1, eXp agents will have access to new revenue streams, especially those who reach the virtual brokerage’s ICON status, eXp World Holdings CEO Glenn Sanford said at eXpcon Miami.
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EXp Realty rolled out changes to its agent revenue sharing program earlier this week in an attempt to strengthen one of its recruiting tools by rewarding top producers at the virtual brokerage, executives announced Tuesday.
Starting Nov. 1, eXp Realty agents will gain access to the “ICON Incentive Program” and the “Revenue Share Capping Incentive Program,” executives announced earlier this week during eXp’s eXpcon conference in Miami.
“These initiatives reflect our deep commitment to empowering agents in an ever-evolving industry,” Glenn Sanford, CEO of eXp World Holdings, said in a statement. “At eXp, we know that when our agents thrive, so do we. These programs allow our agents to unlock new income streams, scale their businesses, and further leverage our agent-centric model to build wealth like never before.”
The ICON Incentive Program applies to agents who reach the company’s ICON status, which is achieved by reaching certain dollar-cap metrics,” executives said in a statement. The program will credit agents with ICON status with 30 “Front Line Qualifying Agents” for 13 months, maximizing revenue share potential across the program’s seven skill levels, according to the statement.
EXp also said agents who cap from closed transactions will be credited with 10 FLQA, which it said maximizes earning potential through level 5 for 13 months.
“These programs are rolling out at a critical time for agents in the real estate industry,” Sanford said. “We are not just rewarding performance, but empowering entrepreneurial agents with the tools and incentives they need to stay ahead in a rapidly changing market. eXp Realty continues to push the boundaries of what a real estate brokerage can offer.”
EXp Realty paid $232.6 million in revenue share and equity benefits to agents and brokers in 2023, the company reported earlier this year.
The lion’s share of the payouts — $197.9 million — came from revenue share. The remaining $34.7 million came from 2.2 million EXPI stock shares.