Love your vids, first time I learned about Real , a few months ago, I said wow this company sounds great...if I was an agent I ll go there for sure lol fortunatelly I am building my own Brokerage and what you say in 9:43 - 10:10 is exactly what i am doing : )
Cool, good luck with your brokerage! We do have a lot of independent brokerages who decide to join REAL. Takes the compliance off of your shoulders, provides excellent training and community to your agents, our stock awards contribute to increased agent retention and you, your agents, will get access to multiple streams of income and game-changing technology! Something to think about.
Yea, that's a good idea. I'll tell you though, I feel like LPT is a bit of a joke and I don't see it really growing. My understanding is you can join them with a $5k Cap and $500 per transaction but the agent who brings you in gets no rev share OR you can join with a $15k cap and the agent above you gets rev share and you are now eligible to receive rev share on anyone you bring in. I feel like with this model, the vast majority of agents are going to choose the cheaper option which greatly reduces the incentives for agents to help grow the company....So I think they are going to have a hard time growing IMO.
So REAL only wants producing agents at the company and don't want full time MLM experts joining just for rev share, so yes, you can only receive rev share if you are a "producing agent" which means you have to earn at least a $3,000 commission every 6 months. REAL has announced that this year they are rolling out with a "retirement plan" so that you can get out of production and still receive your rev share. They have not officially released the details of that yet but they are having a big conference at the end of this month and I think they may then. Q1 the announced "willable rev share" where we can leave it to our kid or grand child who will continue receiving rev share and they don't have to be a real estate agent, like it is with eXp.
Does EXP have a rule that agents needs to be producing to get rev share? I even heard a non agent receiving rev share? Is this possible? It is a joke that exp is a real estate company to let all those full time recruiters be there and they don't produce. They keep putting out seminars every week. This is what they do and it is a slap in the face to the industry. If they want to do that do it in another product.
I don't believe so. So you have experts on MLM recruiting getting their licenses just to join eXp and build out downlines and have never sold a home in their lives. eXp also has alot of new agents in it. They do this because they still make a profit off of new agents with their monthly fees AND even reward their agents with free stock for ANY agent they attract, including non-producing new agents. REAL only rewards you for an agent after they close their first transaction. So we don't have nearly as many new agents as eXp.
@@next-genagents7731 eXp Realty only issues a stock award after the joining agent completes their first sale. This stock award has a three year vesting period (so both the new agent and their sponsor), would need to remain with the company in good standing for 3 years for said stock award to vest. See below for further clarity... CANADIAN STOCK AWARD VALUE FIRST CLOSED - $270 CAD When an agent completes their first sale, lease, or referral transaction (full unit) in each anniversary year with eXp, the agent will be granted a First Closed stock award. CAPPED - $540 CAD Upon fulfillment of a non-reduced cap (company commission cap paid to eXp) during each anniversary year, agents will be granted a Capped stock award. SPONSOR - $540 CAD When an eXp agent (sponsoring agent) directly attracts another agent (sponsored agent) to eXp, and upon the sponsored agent’s first completed transaction (full unit) with eXp, the sponsoring agent will be granted a Sponsor stock award. USA STOCK AWARD VALUE FIRST CLOSED When a participant completes their first sale, lease, or referral transaction (full unit) in each anniversary year with eXp, the participant will be granted a stock award valued at $200 of EXPI stock. CAPPED Upon fulfillment of a non-reduced cap (company commission cap paid to eXp) during each anniversary year, agents will be granted a stock award valued at $400 of EXPI stock. SPONSOR When an eXp agent (sponsoring agent) directly attracts another agent (sponsored agent) to eXp, and upon the sponsored agent’s first completed transaction (full unit) with eXp, the sponsoring agent will be granted a stock award valued at $400 of EXPI stock. NUMBER OF SHARES The number of EXPI shares granted under an Agent Stock Award is determined by using the closing market price of EXPI stock on the last trading day in the qualifying month and is set forth on the participant’s Notice of Agent Stock Award. VESTING A participant does not own the EXPI stock granted under an Agent Stock Award until the award has vested. Each of the Agent Stock Awards described above vests over a three-year vesting period ending on the Vesting Date (as defined in the Agent Stock Award Terms and Conditions). In order to satisfy the vesting requirements, a participant must remain with eXp and in good standing (as defined in the participant’s Independent Contractor Agreement with eXp) during the vesting period. For Sponsor Awards, the sponsoring agent and the sponsored agent who joins and closed their first transaction must both remain with eXp and in good standing during the vesting period. Any failure to achieve the vesting requirements will result in the forfeiture of the stock award.
Love your vids, first time I learned about Real , a few months ago, I said wow this company sounds great...if I was an agent I ll go there for sure lol fortunatelly I am building my own Brokerage and what you say in 9:43 - 10:10 is exactly what i am doing : )
Cool, good luck with your brokerage! We do have a lot of independent brokerages who decide to join REAL. Takes the compliance off of your shoulders, provides excellent training and community to your agents, our stock awards contribute to increased agent retention and you, your agents, will get access to multiple streams of income and game-changing technology! Something to think about.
Keep these up, I'm constantly sharing your stuff. Love it
Thanks man, will do!
eXp Realty reduced its current Frontline Qualifying Agent (FLQA) Tier 7 threshold from 40 to 30 FLQA on June 30, 2023.
Thanks. I'll include that in my next video.
@@next-genagents7731 Great video. Thanks for sharing.
Could do do a video on real vs lpt ...would love to know your thoughts
Yea, that's a good idea. I'll tell you though, I feel like LPT is a bit of a joke and I don't see it really growing. My understanding is you can join them with a $5k Cap and $500 per transaction but the agent who brings you in gets no rev share OR you can join with a $15k cap and the agent above you gets rev share and you are now eligible to receive rev share on anyone you bring in. I feel like with this model, the vast majority of agents are going to choose the cheaper option which greatly reduces the incentives for agents to help grow the company....So I think they are going to have a hard time growing IMO.
Hey is it true your rev share shuts off if you eventually retire and stop selling?
So REAL only wants producing agents at the company and don't want full time MLM experts joining just for rev share, so yes, you can only receive rev share if you are a "producing agent" which means you have to earn at least a $3,000 commission every 6 months. REAL has announced that this year they are rolling out with a "retirement plan" so that you can get out of production and still receive your rev share. They have not officially released the details of that yet but they are having a big conference at the end of this month and I think they may then. Q1 the announced "willable rev share" where we can leave it to our kid or grand child who will continue receiving rev share and they don't have to be a real estate agent, like it is with eXp.
Does EXP have a rule that agents needs to be producing to get rev share? I even heard a non agent receiving rev share? Is this possible? It is a joke that exp is a real estate company to let all those full time recruiters be there and they don't produce. They keep putting out seminars every week. This is what they do and it is a slap in the face to the industry. If they want to do that do it in another product.
I don't believe so. So you have experts on MLM recruiting getting their licenses just to join eXp and build out downlines and have never sold a home in their lives. eXp also has alot of new agents in it. They do this because they still make a profit off of new agents with their monthly fees AND even reward their agents with free stock for ANY agent they attract, including non-producing new agents. REAL only rewards you for an agent after they close their first transaction. So we don't have nearly as many new agents as eXp.
@@next-genagents7731 eXp Realty only issues a stock award after the joining agent completes their first sale. This stock award has a three year vesting period (so both the new agent and their sponsor), would need to remain with the company in good standing for 3 years for said stock award to vest. See below for further clarity...
CANADIAN STOCK AWARD VALUE
FIRST CLOSED - $270 CAD
When an agent completes their first sale, lease, or referral transaction (full unit) in each anniversary year with eXp, the agent will be granted a First Closed stock award.
CAPPED - $540 CAD
Upon fulfillment of a non-reduced cap (company commission cap paid to eXp) during each anniversary year, agents will be granted a Capped stock award.
SPONSOR - $540 CAD
When an eXp agent (sponsoring agent) directly attracts another agent (sponsored agent) to eXp, and upon the sponsored agent’s first completed transaction (full unit) with eXp, the sponsoring agent will be granted a Sponsor stock award.
USA STOCK AWARD VALUE
FIRST CLOSED
When a participant completes their first sale, lease, or referral transaction (full unit) in each anniversary year with eXp, the participant will be granted a stock award valued at $200 of EXPI stock.
CAPPED
Upon fulfillment of a non-reduced cap (company commission cap paid to eXp) during each anniversary year, agents will be granted a stock award valued at $400 of EXPI stock.
SPONSOR
When an eXp agent (sponsoring agent) directly attracts another agent (sponsored agent) to eXp, and upon the sponsored agent’s first completed transaction (full unit) with eXp, the sponsoring agent will be granted a stock award valued at $400 of EXPI stock.
NUMBER OF SHARES
The number of EXPI shares granted under an Agent Stock Award is determined by using the closing market price of EXPI stock on the last trading day in the qualifying month and is set forth on the participant’s Notice of Agent Stock Award.
VESTING
A participant does not own the EXPI stock granted under an Agent Stock Award until the award has vested. Each of the Agent Stock Awards described above vests over a three-year vesting period ending on the Vesting Date (as defined in the Agent Stock Award Terms and Conditions).
In order to satisfy the vesting requirements, a participant must remain with eXp and in good standing (as defined in the participant’s Independent Contractor Agreement with eXp) during the vesting period.
For Sponsor Awards, the sponsoring agent and the sponsored agent who joins and closed their first transaction must both remain with eXp and in good standing during the vesting period.
Any failure to achieve the vesting requirements will result in the forfeiture of the stock award.
Hi Malcom, how can I contact you?
Contact info is in my videos and there is a link to schedule a video call. You can also email me at Malcolm@LivingInMaryland.com