This video is all about how teams work at eXp Realty. There are four recognized team structures at eXp: Standard; Self-Organized; Domestic; and Mega ICON. Each has their own benefits and requirements. Let’s take a quick look at each here.
The 4 Team Structures at eXp
1) Standard Team: Your basic structure with a team leader and agents working below them. To form a Standard Team you must have closed at least $6M in volume in the past year or 30 transactions. Team members must pay at least 25% per transaction to the team leader, but team members are on a half cap of just $8,000. The team leader can reach ICON status and become eligible to get their cap back in company stock, but the team agents are not.
2) Self Organized Team: More typical with partnerships or other situations where agents want to market together or share a lead source. No minimum transaction count or volume to form a self organized team and no minimum referral fee between agents. All agents on a self organized team pay the full $16,000 cap and are all eligible to reach ICON status.
3) Domestic Team: Strictly for married couples who are both licensed at eXp. Agents on a domestic team are essentially treated like one agent. They’ll share one $16,000 cap and are eligible to reach ICON status.
4) Mega ICON Team: This team structure is for large, high producing teams. Similar to a Standard Team, the Mega ICON team will have a team leader and agents below them. There is a minimum requirement of 175 transactions for at least $40M in volume and the team must have at least 10 cappers to be a Mega ICON Team. The team leader will pay the full $16,000 cap and is eligible for ICON status, but the team agents pay just a quarter cap of $4,000!
If you’d like to learn more about bringing your team to eXp or starting a team at eXp I’m happy to help answer any questions you have. You can schedule a call with me here!