eXp aims to ‘accelerate’ rev share for new agents
The company has retooled its revenue share program to make it easier for newer agents to benefit from it — and to help its recruiting efforts.
- eXp’s “Accelerate” program gives new agents access to additional revenue share tiers to help them “build long-term wealth.”
- This is the latest change to eXp’s rev share system after it reduced the threshold to attain the highest tiers in June.
- The Real Brokerage recently announced similar efforts to reduce the barrier to entry for new agents, while KW overhauled its profit-sharing program in August.
It's tough being at the bottom of a downline, but eXp Realty is now making it easier for new agents to get a leg up.
At least that's the goal of the global brokerage's "Accelerate" program, which it unveiled last week. The company said it will help new agents tap into eXp's well-known rev share program while simultaneously helping the company in "attracting and retaining the best agents in the business," according to its announcement.
The big change? The new program opens up the second and third tier of eXp's seven-tier model to new agents. Previously, these tiers were not available to agents who had just joined the brokerage. Being in the second tier allows agents to have 10 "front line qualified agents" (FLQAs) and thus, additional revenue opportunities.
eXp Founder and CEO Glenn Sanford said the change will help agents establish themselves more quickly so they can begin to secure their financial future.
"We continue to be relentlessly focused on delivering a model that puts agents first. I cannot emphasize enough the importance of revenue share, as well as a favorable commission model and equity program for agents looking to build long-term wealth," he said in the announcement.
The program went into effect September 7, though eXp will retroactively honor it for agents who joined in the last six months, the company said.
The latest changes come after eXp tweaked its rev share model back in June, lowering the threshold for its seventh and highest tier from a recruitment quota of 40 FLQAs to 30.
And eXp isn't the only major player trying to make its revenue sharing model more enticing to agents who've recently joined the company. Last week, Real Brokerage announced that it too was making it easier for new agents to earn more money by reducing the thresholds within its tier system. Starting November 1, Real agents will only need five referrals — down from ten — to achieve the company's second tier.
Both eXp and Real continue to be focused on growing agent count. During the company's second quarter earnings call, Sanford noted that eXp added agents despite a challenging market, while Real more than doubled its agent count from the year prior.
Meanwhile, Keller Williams announced a major overhaul of its profit-sharing system in August that would dramatically reduce compensation for agents who are leaving the company. The change is designed to reward agents who stay with the company, or who come back within six months after the policy change takes effect in July 2024.
Some leaders, however, have criticized revenue- and profit-sharing models and downlines as being counterproductive to success. During RE/MAX's Broker Owner Conference last month, CEO Nick Bailey warned agents against "chasing downlines" and the idea of trying "to get rich off somebody else's back," saying instead that what makes a successful agent is the ability to "sell a lot of houses."