If you are a real estate agent who is considering making a move to eXp Realty, you’ve probably already done a fair amount of research about our brokerage. You may have heard about the importance of selecting the best sponsor at eXp. While some agents already have selected their sponsor, others don’t quite understand what all the fuss is about. They are so excited about the opportunity that eXp offers and are eager to join without considering an important aspect of the process. And that is the process of selecting their sponsor at eXp Realty. We want to make sure you are in the best possible hands and are going to share everything you need to know about interviewing and choosing the best eXp Realty sponsor.
According to eXp Realty, the Sponsor is the person most responsible for influencing your decision to join eXp. This does not necessarily mean that the person who talked to you first about eXp Realty is your sponsor – it’s the person that influenced you the most.
What we’ve personally witnessed over the last few years is many agents are talking with multiple eXp agents and/or doing their own research online to determine if eXp is a good fit for their business. Because of this, there is often no clear answer as to whom their eXp Realty Sponsor should be. If this sounds like you, you’ve come to the perfect place to get answers!
When you name someone as your Sponsor, eXp shares a small percentage of the incoming commission with your Sponsor and their organization (i.e. “upline”). This doesn’t cost you anything extra (it comes out of the 20% split with eXp), but you have someone by your side who has a vested interested in helping you succeed.
While eXp does not require that the Sponsors help you achieve your goals, there are many Sponsors who provide life-changing support to the agents they partner with. They may provide one-on-one coaching sessions. They may also organize group trainings and workshops where agents can learn from each other, share best practices and get referrals. Additionally, sponsors can offer networking opportunities and connections within the industry to help agents expand their professional network and grow their business.
Think of your sponsor as your wingman (or wingwoman!) who will not only help you leverage all the tools and technology eXp offers, they can can help you scale your business in the years to come.
Choosing a sponsor at eXp Realty is important for agents of all levels because it can greatly impact their success and growth within the company. A sponsor serves as a mentor, guide, and support system. They can dramatically impact the trajectory of your future business.
When you are ready to join eXp and complete your Independent Contractor Agreement, you will be asked to name your Sponsor. Once you name someone, it is irrevocable. The only way you could change sponsors in the future would be to leave eXp Realty for at least six (6) months.
If you don’t already have a sponsor and want to find the best fit for you and your business, it’s important to do some homework. Just like when you are interviewing brokerages, we highly recommend that you speak with at least two or three potential sponsors. Here are some steps to help you find the right sponsor for your needs:
Start by researching the different sponsors available at eXp Realty. Look for sponsors who have a strong track record of success, experience in the real estate industry, and a good reputation within the eXp Realty community. You can find information about sponsors by reaching out to agents for recommendations, social media or just by googling “top eXp Realty sponsors” or “best eXp Realty sponsors.” Find at least 10 that look promising and schedule some time to meet with them.
Consider the sponsor’s experience in the real estate industry and their knowledge of eXp Realty’s systems and processes. A sponsor with extensive experience can provide valuable insights and guidance based on their own success and failures. Look for sponsors who have a proven track record of helping agents achieve their goals and grow / scale their business.
Communication is key in any mentor-mentee relationship. Evaluate the sponsor’s communication style and determine if it aligns with your own preferences. Do they communicate regularly? Are they accessible when you have questions or need support? How do they prefer to communicate — and how often? A sponsor who is available, responsive and willing to provide ongoing support can greatly enhance your experience at eXp Realty.
Look for sponsors who have a strong network and connections within the real estate industry. A sponsor with a wide reach can introduce you to potential clients, industry leaders, and valuable resources that can help you take your business to the next level. Ask potential sponsors about their networking opportunities and how they can help expand your reach within the industry.
Reach out to current or past agents who have worked with potential sponsors and ask for their feedback and recommendations. Hearing about their personal experiences can give you valuable insights into what it’s like to work with a particular sponsor and whether they are a good fit for you.
In other words, do you ‘click” with this individual? It’s important to find a sponsor who aligns with your values, goals, and work style. Consider whether their approach to business matches yours and if they have a vision that aligns with your own. A sponsor who shares similar values can provide the support and guidance you need to thrive at your new brokerage.
Finding the best eXp Realty sponsor and sponsor organization requires careful evaluation and consideration. Take the time to research potential sponsors, evaluate their experience and communication style, consider their network and connections, seek testimonials and recommendations, and assess compatibility. By finding a sponsor who aligns with your needs and goals, you can enhance your experience at eXp Realty and increase your chances of success in the real estate industry.
Once you’ve met with a few potential sponsors, it’s time to figure out which one will be the best for you overall.
When completing the application to join eXp Realty, you name someone as your sponsor. Once named, this is irrevocable. The only possible way to change your sponsor would be to leave eXp for at least 6 months. Upon your return you could name a new sponsoring agent.
eXp Realty has a revenue share model, rewarding our agents and brokers for helping the company grow (and thrive!). When you are named as someone’s Sponsor, eXp will share a percentage of the 20% split with you and the agents in your upline. Learn more about how the eXp revenue share program works.
While it’s important to have a local mentor, your Sponsor can live anywhere! They don’t have to know your market to help you with lead generation, social media marketing, building a business plan, etc. There are definitely some perks to learning from other agents outside your local marketplace.
No, you do not have to name someone when filling out the application to join, but why wouldn’t you want the additional support during your career at eXp? It doesn’t cost you anything to have a sponsor and having someone with a vested interest in your success is always a bonus!
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Absolutely! If you are wrapping things up at your current brokerage and you have agents that want to join eXp ASAP, you can sign a Letter of Intent (LOI) and the agents can join eXp before you are officially onboard. This is something your eXp Sponsor can assist you with, but if you have questions or don’t have a sponsor yet, we are here for you!
A certified Mentor is paired with newly licensed agents (or agents with fewer than three transactions in the last 12 months) who join eXp. The mentor is local assists with the new agents first three transactions at eXp and in return, receives a small percentage of the commission.
An eXp Realty Sponsor is the person who was most influential in your decision to join the brokerage and supports you throughout the course of your career at eXp. There is no additional charge to have a sponsor.
Example of the difference between mentor and sponsor: Your Mentor can help you with local questions regarding contracts, home inspector recommendations and will sometimes allow you to shadow them on their real estate appointment. A Sponsor may help you with marketing your business, building a team, personal coaching, and/or connecting you to other professionals to help scale your real estate business.
Day One! If you are ready to join eXp and have others that want to join with you, just let us know and we will make sure they can name you as their eXp Realty Sponsor when completing the online application.
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As we mentioned earlier, a Sponsor is not required by eXp to do anything other than introduce you to the brokerage and guide you through the application process. There are quite a few Sponsors at eXp who truly enjoy helping others succeed and know that the revenue sharing program can be life-changing so they pour everything they can into helping their agents succeed. Many have created a real sense of community for the agents they sponsor and their downline. This can come in the form of weekly masterminds or team meetings, private Facebook groups, in-person networking events, marketing tools and technology, personal coaching sessions, the list goes on.
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