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Teams at eXp Realty: The 4 Types eXp Realty Teams

4 Types of Teams at eXp Realty

Teams at eXp Realty!

For starting a team or moving a team, there’s no better brokerage for team growth and team leader freedom than anywhere in the world. You’ve heard of thousands of teams joining eXp Realty. Before we go into detail on the 4 types of eXp Realty Teams, let’s talk briefly about why team leaders and broker-owners join eXp Realty!

Why Teams Partner with eXp Realty

As a team leader or broker-owner, you are constantly looking for better ways grow your business, provide for your team, create more efficiencies, keep costs down, and reduce workload and liability. By partnering as an eXp Realty Team, you can do all of that while also providing more benefits to your team!

eXp Realty definitely has a lot of benefits for the individual agent, but the model was specifically built for team leaders and broker-owners to reduce liability and workload while providing the ultimate opportunity for growth and scalability.

Before we go into detail about the 4 types of eXp Realty Teams, here’s a SHORT list of reasons team leaders and broker-owners decide to move their teams to eXp Realty:

  • Reduced Expenses
  • Eliminated Liability
  • Leverage Existing Systems
  • Bells and Whistles to Offer Agents
  • Attractive Business Model to Attract More Agents
  • Paperwork Offload
  • Logistical Offload
  • Time Value
  • Outsourcing
  • Growth & Scalability
  • Ownership/Branding
  • Available Support
  • Equity Opportunity
  • Revenue Share Exit Strategy
  • Health Care Option
  • Mentor Program
  • Unlimited Training

4 Types of Teams at eXp Realty

In this post, we will cover the 4 types of teams at eXp Realty and how you can transition your team to eXp Realty without having to sacrifice your current income.

The 4 teams at eXp Realty:

  1. Self-Organized Team
  2. Standard Team
  3. Mega Icon Team
  4. Domestic Partnership

We understand that you will still have concerns about moving your team or brokerage to eXp Realty and that you still have questions tailored towards your specific business. Book a private 1-on-1 consultation call with us at the link below for a walkthrough tailored towards your team or business’s specific needs!

1) Self-Organized Teams at eXp Realty

Self-organized teams at eXp Realty are the most common and easiest type of team to form. There are very minimal requirements and the team leader has a lot of freedom to operate their team however they choose.

Self-organized teams at eXp Realty are very similar to informal referral partnerships amongst a group of agents who share deals or leads for a referral fee. Under this team structure, the team leader does not have to complete a minimum number of transactions each year to sustain their team. There is also no formal team agreement required by eXp from self-organized teams and no minimum splits that the team leader have to charge their agents.

Self Organized eXp Realty Team

The only requirement for self-organized teams at eXp Realty is for the team leader to provide a roster of the agents on their team.

The most important aspect of self-organized teams at eXp is that the team members will not be paying a reduced cap to the company (we will explain this in further detail in the next two sections), and instead will be treated like individual agents. This is important because agents on a self-organized team are able to earn their full capping stock awards by paying their full 16k cap and will be eligible for the ICON Agent award for meeting the company requirements.

As you can probably see, self-organized teams are the easiest and hassle-free way to start or transition your current team or brokerage into eXp Realty while keeping your current agent commission splits.

2) Standard Teams at eXp Realty

Standard teams at eXp Realty are a lot more similar to the traditional team structures that we’ve seen in the marketplace.

If you are looking to start a standard team at eXp Realty, you must charge a minimum split of 25% for all of the agents on your team. This means that you are not allowed to charge agents a lower commission split than 25%. Here is an example:

If your current split at your current team or brokerage is 50/50 then you are allowed to keep the same split structure as a standard team at eXp Realty. If your current split is 90/10 then you must raise that to a 75/25 if you want to start a standard team at eXp.

If you wanted to keep your 90/10 split, you would have to start a self-organized team instead.

Standard eXp Realty Team

Other requirements of standard teams at eXp Realty include a formal written team agreement for the agents on your standard team, a team roster with all team members, and a minimum of $6 million in closed transactions or 30 closed transactions every year.

Also, the agents on your standard team will only be required to pay $8,000 to eXp in splits in order to cap and keep 100% of their commissions before paying team splits. This may seem like a positive, but keep in mind all agents paying less than a full cap at eXp are NOT eligible for the ICON Agent Award and can not earn their cap back in company stock awards.

Another thing to keep in mind is that your revenue share will also cap at half of the standard annual caps for all agents paying an $8,000 cap. Because revenue share is paid to agents and team leaders by the company, a reduced cap for your agents will also mean a reduced revenue share for you as the team leader of a standard team.

Here is an example of the revenue share numbers for capping agents if all the agents in your revenue share organization are also a member of your standard team:

eXp Realty Team Revenue Share

3) Mega Icon Teams at eXp Realty

Mega Icon teams at eXp Realty are usually teams of 10 or more agents doing a substantial amount of business. As we discuss further in this section, you will see why that part is important.

A mega icon team and a standard team share many of the same requirements with only a few differences in details. The same minimum split of 25% to the team leader still applies, as well as a formal written team agreement and a roster of all the agents on your team.

Mega ICON eXp Realty Team

Where mega teams and standard teams at eXp realty begin to differ is the reduced cap amount for your agents and the minimum annual production requirements to keep your team’s status.

Agents on a mega icon team will need to pay a reduced $4,000 to the company in brokerage splits to cap or “quarter-cap” at the company as opposed to the $8,000 half cap for agents on a standard team.

Also, a mega icon team must complete a minimum of $40 million in closed transactions or 175 transactions each year as opposed to the $6 million or 30 closed transactions requirement for standard teams. Another unique requirement for mega icon teams is that they must have a minimum of 10 capping agents on their team each year in order to maintain their status as a mega icon team.

eXp Realty Mega ICON Team Requirements

The final and most important requirement for mega icon teams is that the team leader must pay a total of $56,000 in brokerage splits to eXp Realty. That is the full cap of $16,000 for the team leader and quarter caps of $4,000 for 10 agents on their team totaling to $40,000. If the mega icon team fails to meet these requirements, the team leader must make up the difference on their own and will not be eligible for the ICON agent award and $16,000 worth of stock awards.

Also since mega icon teams are usually much larger than a normal standard team, all agents in a mega icon team must be within a 100-mile radius of the team leader. If you have agents on your team outside of 100 miles you must then name a satellite team leader who will have a half cap of $8,000 rather than a quarter cap of $4,000.

Recap of team types at eXp realty and their requirements.

We understand that you will still have concerns about moving your team or brokerage to eXp Realty and that you still have questions tailored towards your specific business. Book a private 1-on-1 consultation call with us at the link below for a walkthrough tailored towards your team or business’s specific needs!

4) Domestic Partnerships

A domestic partnership at eXp is a team of two legally married real estate agents performing as one according to the company.

Under a domestic partnership both spouses will have one joint skyslope account to upload contracts and track transactions, one cap of $16,000 each year, one risk management fee of $40 per transaction capped at $500 each year, and one ICON eligibility with one award for the team.

Domestic Partnership eXp Realty Team

As a domestic team you must name one spouse as the primary partner and the other as the secondary partner. Domestic teams also pays a reduced $149 monthly fee for both partners ($85 for primary partner, $50 for the secondary partner).

Also since a domestic team is essentially treated as one agent by eXp Realty, they will both name one sponsor when they join the company and will act as one entity when sponsoring other agents to the company for their revenue share team, with agents naming the primary agent as their sponsor.

Domestic teams are also granted the same abilities as an individual agent and can start their own self organized or standard teams anytime they choose granted they have all requirements as stated by eXp.

Understanding Commissions Splits for Teams – Example

At eXp, team commissions are split first between the team leader and the agent before they are split with the company and before any transaction fees are deducted.

Here is a breakdown of how commission splits work for teams at eXp Realty and an example scenario.

The first deduction that eXp takes from the agent or the team leader on any commission on any transactions is any amount of outside referrals owed to other brokerages. Next, the gross commission on a transaction is divided between the team member and the team leader based on the agreed-upon split. Then all eXp brokerage splits (20%) and transaction fees are deducted from the team leader and the agent respectively.

Below are examples of 2 scenarios where neither the team leader nor the agent has capped and one where the team leader has capped but the agent has not.

Example on a transaction where the gross commission was $10,000 on a team with a 50/50 split where neither the team leader nor the agent has capped:

No cap commissions split between team leader and agent example

Example on a transaction where the gross commission was $10,000 on a team with a 50/50 split where the team leader has capped but the team member has not capped:

capped example of commission split between team leader and agent.

As you can probably see, all the per-transaction fees are split between the agent and the team leader based on the team’s agreed-upon split.

BONUS: Revenue share for eXp Realty Teams

Now the last type of team at eXp Realty is going to deviate a little from what we just talked about in the 4 types of traditional teams that you can lead or join at eXp Realty.

The revenue share model was created as a way to reward agents at the eXp realty for helping the company grow and attracting other agents to the company. For a full breakdown of the revenue share model, please refer to this article.

Revenue share teams are a lot different than traditional teams at eXp or any other brokerage, and can have a lot of benefits for both the team leader and the team members. The single most important distinction between a revenue share team and a traditional team is that the agents on a revenue share team do not have to pay any additional splits to the team leader on top of their brokerage split.

At eXp Realty, any agent of any experience has the opportunity to sponsor other agents to the company by introducing them to the business model and attracting them to join the company. As a team leader who brings their team over to eXp Realty, you will sponsor your current team members. When you sponsor an agent, the company then pays you a percentage of that agent’s GCI on every sale that they make, deducted from the company side of the commission split so that you are getting paid for helping the company grow while your agents can enjoy their full 80/20 split.

We understand that you will still have concerns about moving your team or brokerage to eXp Realty and that you still have questions tailored towards your specific business. Book a private 1-on-1 consultation call with us at the link below for a walkthrough tailored towards your team or business’s specific needs!

The reason why the revenue share model is so beneficial and powerful to team leaders is that it can save you time, while also allowing your agents to grow which in turn also helps you and your team grow. At a traditional team, many talented agents tend to grow out of their roles as a team member and eventually leave their teams and become independent agents at their brokerage or a different brokerage so that they no longer have to pay their additional team splits and keep more of their commissions. On a revenue share model, these agents no longer have to pay any additional splits to their team leaders or sponsors, allowing them to keep their full commissions.

Also, because the revenue share model is cascading and is available for all agents, your team members are also incentivized to sponsor other agents and become team leaders themselves while also helping you grow your team as well. Since you receive revenue share not only from the agents you directly sponsor, but also the agents that they sponsor and so on and so on for 7 levels, you are now also incentivized to develop your agents into team leaders themselves.

Lastly, with the revenue share model, team leaders can now grow their teams anywhere in the United States and in over 18 countries around the world so you can expand your team’s market share and grow your team into higher priced markets while also being able to attract the top agents from around the world in any market. By growing your team outside of your local market restrictions, you can now increase the amount of market share that your team has so that you and your team are able to duplicate your success in multiple markets globally which in turn will also duplicate your teams production and income.

The Bottom Line

Now that you have seen and hopefully have a clear understanding of the 4 different types of teams at eXp Realty, it is time to make a decision as to whether or not you want to transition your traditional team to eXp or simply take advantage of the revenue share model. The opportunity that eXp Realty provides for broker-owners and team leaders is to free up your stress and liability and scale your business globally with little to no “red-tape”.

Keeping your traditional split team is a great way to continue earning the same income as you did prior to taking advantage of the global opportunity at eXp. By partnering your team with eXp Realty you are not only giving your agents a chance to build wealth and maximizing efficiency in your local business, but you are also unlocking an opportunity to take your real estate team global and “10x” your current business!

Learn more about eXp Realty in our comprehensive guide!

Learn more about eXp Realty Team commission splits and caps in this post.

We understand that you will still have concerns about moving your team or brokerage to eXp Realty and that you still have questions tailored towards your specific business. Book a private 1-on-1 consultation call with us at the link below for a walkthrough tailored towards your team or business’s specific needs!