eXp Sponsors – eXp Realty Sponsorship Explained

Exp Realty Sponsors

getting a real estate license

eXp has a unique, one-of-a-kind, sponsorship setup. At eXp, when you team up with a successful group, team, or agent, you’re able to take advantage of the resources they provide.

 

How does eXp Sponsorship work?

At eXp, the relationship between an agent and sponsor is complementary. The sponsor helps the agent be successful by helping to guide them through eXp’s company to find the right resources they’ll need to be successful.

So what’s in it for the eXp sponsor? Why do they help with sponsorship? This is the clever part. It doesn’t actually cost an agent anything to get help from their sponsor. 

That’s right – read that line again – it is important!  eXp corporate gives a bonus to the sponsor based on how successful you are.  If you sell a lot of real estate or end up building a large organization of your own, your sponsor is rewarded by eXp, which gives them a natural motivation to help you build your eXp business.

The revenue-sharing incentive has inspired sponsors to provide support for sponsorees that goes beyond training and coaching. Some will provide their downlines with leads and technology platforms. 

Some sponsors have also formed collective groups that offer advice, learning and training resources, and tools for lead generation. They may even provide one on one support for their agents. 

You’ll find that naming an eXp sponsor will pay off in leaps and bounds with guidance and opportunities to move forward. eXp’s revenue-sharing inspires comprehensive sponsor support that is worth its weight in gold. It sets the agency apart from others producing well-trained agents that have the tools they need to move their careers forward. 

But most importantly – don’t join eXp without a sponsor.  If you do, you don’t have anyone who is invested in your success.  Naming a sponsor costs you nothing, but can gain you everything, at no cost to you, ever.

jim gray headshot

“If you were to invite agents to join your brokerage, or an agent joined because they had a great experience with you, doesn’t it make sense that the broker ought to reward you for that activity?

There are brokerages that do that, eXp is one of them. When you invite an agent that joins you get a portion of that agent’s production based on a certain percentage. We call that revenue share. You invite an agent, that agent comes, that agent produces, the company rewards you by giving you rev share and stock. Simple and effective.” – Jim Gray,  licensed real estate agent with eXp Realty and a professional real estate agent coach. 

How do I pick an eXp sponsor? 

real estate commission imageeXp’s model was built to even the playing field, and create incentives for more experienced agents. It provides the same CRM and technology to all agents. So, agents get a chance to set themselves apart when choosing someone to be their sponsor. 

If you are already in talks with someone at eXp, it’s best to talk to someone in their upline or someone in their downline. You can ask what kind of support they are getting from their sponsor. Are they going to jump on calls with you? Do they have a proven system that can help you?

In most cases, your sponsor is the person that introduced you to eXp. Many sponsors will try to tell you this is how it has to be. However, here are some tips to keep in mind:

  • Your sponsor doesn’t have to live in your city, or even in your state! Remember: this is a virtual brokerage – and a lot of business is conducted virtually.
  • Your sponsor is not necessarily the eXp agent that talked to you first
  • Your sponsor does not have to be a friend you happen to know at eXp
  • Your sponsor is not a local team leader in your area you’ve heard about

Your sponsor is whoever you want it to be.

If you are deciding between multiple people, it’s best to pick the sponsor that helped you decide eXp was the right choice for you.  If you don’t have one, the most important next step is to get one!

How do I get an eXp Sponsor?

counting money

Remember: a sponsor is your secret weapon to getting guidance and support you wouldn’t otherwise. So, what happened if you don’t have an eXp sponsor yet? Thousands of agents join eXp each year and don’t list a sponsor, which can be a big mistake.

Not all sponsors are willing to take on new agents. But many others will pick up a call any time to discuss the pros and cons of joining eXp Realty.

Simply picking the right sponsor opens some very interesting opportunities for agents looking to build wealth and generate additional streams of income rather than just selling homes.

 

eXp Sponsorship FAQS:

Can you have an out-of-state sponsor at eXp Realty? 

Yes, you want to pick a sponsor that is going to help you understand the technology and tools of the brokerage. Part of the value of a virtual brokerage is you work with agents across the US and even the world.  Choose someone who can guide you in the growth of your business – even if they are out of state!

What’s the difference between a sponsor and a mentor?

woman studyingWhile many eXp sponsors take on a mentor-like role, there is a difference between a sponsor and a mentor. 

An eXp sponsor is generally the person who introduced you to eXp. Or, was the one who told you to consider the brokerage, and enlightened you about what it would be like if you joined.  Or someone who committed to helping you as you joined.

Once joining and signing someone as your sponsor, you will help them because they are rewarded for each of the real estate transactions you complete.  And they help you to drive your own success at the brokerage

A mentor is different because they provide you with ideas that can help you reach your goals, while a sponsor makes things happen. For example, if you are having a specific problem, your mentor will talk you through it, helping you develop the skills you need to move forward. A sponsor may be able to open the doors to solving the problem.  

It should also be noted that lines can blur within the sponsor and mentor roles. A sponsor may provide you with information that will help you develop skills while a mentor may offer you an opportunity to advance in your career. It all depends on how things play out. 

Do you have to have a sponsor to join eXp?

You wouldn’t jump out of a plane without a parachute, would you? If you’re going to join eXp, you should have a sponsor! If you’ve already got a sponsor in mind, the next step is to fill out the join eXp application online.

Can I change my sponsor? 

joining NARWhen joining eXp Realty, you have to sign a specific sponsor. Again, when talking about a sponsor, it’s not one specific person, but a chain of people and support above that as well. Because of that, once you come on, you cannot change your sponsor. The only loophole? If you’re dead set on changing your sponsor, you can leave eXp for six months, come back, and name a new sponsor later.

Can I sponsor an agent when I’m joining?

Yes, you can – you just need to get the paperwork right. The join paperwork can be tricky, so make sure you’ve got someone to help you fill out who knows what they’re doing.