What is an eXp Realty sponsor.
If you are a real estate agent that is looking to join eXp Realty, you probably have come across a part of your application where eXp asks for you to name a sponsor at the company. For some agents, that choice is easy, they know who their sponsor would be and have already spoken with them and know exactly what they have to offer their agents.
But other agents are so excited about the opportunity that eXp presents and are so ready to jump on board, they have actually missed a crucial part of the process. And that is choosing their sponsor at eXp Realty.
Because eXp Realty presents such a massive opportunity for not only agents but also broker owners and team leaders, there are many individuals who are excited to partner their business with eXp, and have gathered enough research on their own to make an informed decision. But many of them have not actually had a substantial conversation with an eXp agent and therefore have no idea who would be their eXp Realty sponsor.
The role of the sponsor at eXp is extremely important and can be the determining factor for your success as an agent at eXp Realty. So it is wise for agents who are excited about eXp to actually consider picking a sponsor that would actually help them succeed.
In this post we are going to cover what an eXp Realty sponsor is and why it is important for you to choose the right one as well as what happens if you don’t choose a sponsor when you first join eXp.
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What is an eXp Realty Sponsor
First and foremost, lets define what an eXp realty sponsor is, what they do, and who they are.
An eXp Realty sponsor is an agent at eXp realty who has influenced you the most to join eXp Realty. This agent is someone who has taken advantage of the revenue share opportunity at eXp and has spent the time necessary to answer your questions about eXp, explained the eXp model to you, and have shown you their unique value for the agents that they sponsor.
This does not necessarily mean that the person who talked to you first about eXp Realty is your sponsor. In the company’s definition, it is the person that influenced you the most.
Your eXp Realty sponsor has many roles. We already mentioned that they would have taken the time necessary to introduce you to and attract you to eXp realty. But that is not the extent of a sponsor’s job at eXp. A sponsor at eXp is also responsible for helping you navigate and set up your revenue share business. They are responsible for helping you come up with a strategy and detailed roadmap on what steps you need to take in order to take part in and succeed at building revenue share.
A sponsor at eXp can be any agent that is active with the company. Because the opportunity to build revenue share is open to every single active agent at eXp Realty, as long as you are an active agent, you are eligible to sponsor any other agents to eXp Realty.
There are no seniority, logistic, or production requirements for an agent at eXp to be a sponsor. You are able to sponsor other agents at the company the moment you sign up with eXp. In fact many broker owners and team leaders who move their entire teams to eXp actually come in to the company as the sponsor for the agents on their team.
Do you have to have a sponsor for eXp?
Yes, you do have to have a sponsor in order to join eXp Realty. If you do not choose your sponsor, you will be randomly assigned one by the company. You also can not change your sponsor at eXp unless you leave the company and rejoin 6 months later.
In the previous section we touched on the important roles that a sponsor plays in your success as an agent at eXp so now you understand the importance of your sponsor to you.
But there is another important reason for why you absolutely need to choose your sponsor wisely at eXp Realty.
Because there are so many agents that are looking to join eXp without a sponsor because they simply had not had a substantial conversation with another eXp agent, eXp Realty has set up a system for these agents to join the company with a sponsor so that revenue share can be calculated.
If you are an agent that wants to join the company but do not have an eXp Realty sponsor in mind, the company will assign you to a random agent to be your sponsor. Because any and every agent can be a eXp Realty sponsor, the agent assigned to be your sponsor can be anyone from the company. Although this is not necessarily a bad thing, some agents do not realize that they are missing out on potential value and resources.
For one, if your assigned sponsor at eXp does not have any intention to build revenue share themselves, then they are less likely to help you build your revenue share organization.
Also, because every sponsor offers their unique value, you need to consider what value they can bring to you that you do not already have. For example, many investor minded agents at eXp offer their sponsored agents investment training and coaching, while other agents who have mastered social media give their agents the tools, templates, and resources needed to be a social media marketing savant.
If your goal does not necessarily align with your eXp Realty sponsor and their value adds, you could be missing out on a big opportunity for you to improve and grow your business and hit your goals faster because the level of collaboration would not be as substantial as if you were to choose a sponsor who had similar goals with you.
Can You Change Sponsors
So what if you already choose a sponsor or were assigned a sponsor at eXp Realty, but you are dissatisfied with their value or have noticed that their goals do not necessarily align with yours. Do you have to leave eXp Realty now and go to a different brokerage? Is there any way to request to change your eXp Realty sponsor?
In order for you to change your sponsor at eXp Realty, you would have to take an extensive and time consuming course of action. Many agents do not know this, but there is only 2 ways for you to change your eXp Realty Sponsor.
One way that you can change sponsors at eXp Realty is if you had genuinely made a mistake on your eXp onboarding application and had accidentally chosen the wrong agent to be your sponsor. If that is the case you may request to change your sponsor at eXp before you fully onboard with the company, although it is not guaranteed that eXp would allow you to do so.
The second way that an agent can change their eXp Realty Sponsor is by leaving the company for 6 months. Yes, if you decide to leave eXp Realty for 6 months and join with a different brokerage or keep their license inactive for that time period, then 6 months later if they decide to sign up with eXp again, they would be able to name a different sponsor than they first did when they joined the company 6 months prior.
So as you can see, there is no easy way for an agent to change their eXp Realty sponsor. That makes it extremely crucial for agents to be absolutely sure of who they want to be their sponsor upon joining the company. Even if you are assigned a sponsor because you did not choose your sponsor when you first join the company, you would still need to go through the same process as someone who did choose their eXp Realty sponsor if you did want to change to a different sponsor.
Why Choosing a Good Sponsor is So Important
Now that you know the process that an agent has to go through if they want to change their eXp Realty sponsor and have seen how difficult it is, now let’s take a look at why having the best sponsor is so important to your success at eXp, especially if you are an agent who wants to build revenue share.
At eXp, your sponsor’s role is to not only introduce you to the company and help guide you through your onboarding process, but also to be a source of information, knowledge, and support for you at eXp. That does not necessarily mean that your sponsor is more experienced than you are in real estate, but it does mean that they would offer you some sort of value to help you maintain your current business and also expand your business.
A good eXp Realty sponsor is someone who is able to offer additional value either themselves or through their upline, that eXp does not already offer. For example, most good eXp Realty sponsors help their agents build their own revenue share organizations through personal coaching, group calls, and training modules.
But that is not all that an eXp Realty sponsor can help with. Many agents at eXp come from different business and real estate backgrounds so they are also able to offer additional resources trainings and support from their field of expertise as well and help you build your sales business that way. Topics such as real estate investing, social media, video marketing, and direct sales are all possible areas that a potential sponsor can help you with in addition to the trainings that eXp offers.
That is why choosing a good sponsor at eXp is so important, because if do not choose your sponsor or choose the wrong agent to sponsor you, you could be missing out on a plethora of trainings, resources, and support that you would’ve otherwise gotten had you picked the right agent to sponsor you.
Why it is Important for Agents of All Levels to Choose a Sponsor at eXp Realty
If you are a new agent or an individual agent who has been in the business for a few years you are probably already thinking about who you want to be your eXp Realty sponsor as you read through this post. But what about the agents who are nation wide top producers, or team leaders, or even broker-owners?
For these higher level and more experienced agents, choosing a good sponsor at eXp is just as important, if not more important than a solo agent who is looking to join eXp.
eXp Sponsors for Team Leaders and Brokers
As a team leader, potential ICON agent, or broker-owner, you are probably coming to eXp for slightly different reasons than an individual agent. From an entrepreneurial standpoint, team leaders who choose to join the company would be more focused on the growth side of the business than the sales and equity building side. There are a multitude of reasons why team leaders are bringing their entire teams over to eXp Realty, but the most important one is to reduce liability. And not just financially, but also from a time standpoint as well.
For team leaders, growth minded agents, and broker-owners, your eXp Realty Sponsor should not only be there to help you and your entire team make the transition smoothly over to eXp, but also help you explain the eXp model and it’s benefits to your agents so that they are convinced to come with you to eXp as well.
Many broker-owners and team leaders are afraid to make the move over to eXp because they are concerned that they would lose some or all of their agents by partnering their current brokerage or team with eXp and bringing change to their agents’ businesses. So many times, brokers and team leaders might have already been convinced to join eXp, but they are unable to convince their team to come with them, and therefore decides to ultimately remain where they are at instead.
For team leaders and broker owners who are looking at potentially partnering their business with eXp, they need to be able to effectively and efficiently convey the eXp model and it’s benefits to their partners and agents, as well as explain to their agents why making the move to eXp would not only benefit the broker or team leader themselves, but also the agents. If you are a broker or team leader who does not have an eXp Realty sponsor, it may be very difficult for you to convey these points to your agents and business partners because the business model of eXp Realty is still relatively new to you.
An ideal eXp Realty sponsor for team leaders and broker owners is someone who is not only able to properly explain the entrepreneurial opportunities and benefits to these individuals, but also be able and willing to explain the eXp Realty brokerage model to their agents from an agent perspective so that these team leaders and brokers are able to retain their agents when they do partner with eXp.
Also, if you are a team leader or broker, you should look for an eXp Realty sponsor who has s system in place for you and your agents to grow your team in automated way. Since you most likely decide to join eXp to reduce your own time liabilities, you probably don’t want to have to do eXp presentations everyday that eats up your time. A good sponsor at eXp is someone who has the systems in place for you and your agents to be able to grow your teams without having to spend countless hours doing presentations yourself.
And lastly, if you are an agent or broker who is bringing other agents with you over to eXp, make sure you look for a sponsor who has additional tools and value for your agents. That way, your agents are not only going to receive the training that eXp Realty has available, but also the additional trainings and resources that your sponsor and their organization offers as well.
Partner With The Leading Group at eXp Realty!
Now that you understand the importance and value of a good eXp sponsor, it’s time for you to start looking for your ideal sponsor at eXp! Remember that when you are shopping for a sponsor that you are analyzing both their perceived and real value. In order to do this, whenever a potential sponsor tells you about a value add or an additional resource that they have to offer their agents, make sure you ask to actually see these resources for yourself.
Also remember that when you pick your eXp Realty sponsor, you are not only partnering with that one agent, but also the 7 partners that are in their upline. Good sponsors at eXp offer you their help, support, value, and trainings.
The best sponsors at eXp, offer their help, support, value, and trainings, and also the additional support and value of their 7 sponsors as well. Keep this in mind when you are interviewing potential sponsors at eXp, when you speak with them make sure you are not only analyzing them, but also their sponsors as well and the organization as a whole. The most successful agents at eXp are those that are sponsored by an agent whose organization works together from 1-7.
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