eXp Realty now offers co-sponsorship!
This blog post provides an explaination of eXp Realty cosponsorship. The below infographic is a visual of co-sponsorship that I will unpack in the blog post, but before doing that, let me start with and explanation of:
If you already have an understanding of what sponsorship is at eXp Realty, then the short explanation of what co-sponsorship is, is that instead of selecting one eXp Realty agent to be your sponsor, you can select 2 people to be your sponsor. We will unpack the details of eXp Realty cosponsorship in this blog post.
If sponsorship is a new term to you, don’t worry, you are not alone. Before I joined eXp Realty I was with one of the main old-fashioned model brokerages that didn’t have sponsorship. At this former brokerage, I went in to the office, said I was interested in joining their brokerage, then the Office Manager met with me, I filled out join papers, and then I moved my license over. As an agent of their brokerage I was able to have access to the corporate resources and local office resources. Some of the agents there were happy to share their knowledge, but it seemed that the heavy-hitters kept their “tips and tricks” to themselves.
When I joined eXp Realty, what lead me to eXp Realty at the time was that I wanted to learn online lead generation with Facebook and Instagram and knew that I needed a good CRM. I was also looking for a lower cost brokerage. So, after researching brokerages that were low cost and had a good CRM that would integrate with online lead generation, eXp Realty was the front runner becase it was only $85/mo to have my license with eXp, and that $85/mo included the CRM KV Core (now called BoldTrail) and other technologies (as a quick aside, at my former brokerage I was paying $250/mo with no usable CRM).
As my research continued, I found an agent at eXp Realty that offered their own social media lead generation course called the “Social Agent Academy” and live coaching program. The way to get access to these resources was that I could buy the training and coaching program from his website, or when I joined eXp Realty, all I had to do was list his name as my “sponsor”. So, I listed Mike as my sponsor.
Right after my license transfer was complete, I received the welcome emails from eXp Realty Corporate that provided instructions on how to access all the eXp Corporate training and events, and then my sponsor, Mike, reached out to welcome me aboard and provided access credentials to the online lead generation traininig program. On top of that, I didn’t realize that my sponsor was in an awesome “Revenue Share Organization” called “The Wolf Pack” that had their own weekly calls and trainings on top of what eXp Realty corporate offered. I also received access to my sponsor’s calendar, so that when I needed one-on-one assistance, I could hop on his calendar and have a Zoom call. Further to my pleasant surprise, because my sponsor was in that Wolf Pack revenue share organization, that I was also in the Wolf Pack, and all the agents that I sponsor are also part of the Wolf Pack – of which my sponsee agents also have all the same access to resources that I do.
As additional value that I provide to my sponsee agents, my professional training is in website development, search engine optimization (SEO), and engineering (project management) and I offer my training and coaching in website development, SEO, and systems to my sponsee agents also, on top of my sponsee agents also getting access to all that the Wolf Pack has to offer.
So, the short story of what Sponsorship at Exp Realty is – is that on top of getting access to all of eXp Realty corporate resources, you also get access to all the training, coaching, and other perks that the agent you list as your sponsor offers.
If you are an agent that is not currently with eXp Realty considering joining eXp Realty, the short of what eXp Realty cosponsorship is, is that instead of selecting one eXp Realty real estate agent to be your sponsor, you can select two sponsors.
The terms used for the 2 sposnoring agents are “Primary Sponsor” and “Co-Sponsor.” The Primary Sponsor would generally be the agent that attracted you to eXp Realty, and the Cosponsor would be a second agent that has something niche specific that would be a value-add to you. In my scenerio, when a new agent that I am sponsoring may want to list a second person as co-sponsor would be if, say, the newly joing agent wants to learn commercial real estate (which isn’t my bread and butter), then the newly joing agent would list me as their sponsor, then I’d partner the newly joining agent with a commercial real estate agent that would be a good fit for them, and then the newly joining agent would have access to all my resources and coaching (access to the Wolf Pack resources, access to my website, SEO, and systems training and coaching), and then also have access to the training and coaching of the commercial real estate agent that they listed as co-sponsor.
Examples of what value a co-sponsor could add to a newly joing agent include:
Mat Lewczenko, Regional Director of Growth for eXp Realty.
Other brokerages co-sponsorhsip is a split, and is uaully less than a 50/50 split – where when a new joining agent joins other brokerages, it will be a 40%, 40%, 10% split, where 40% of revenue share
Example. You are agent Frank, and you have an interested agent Samantha. Samantha is interested in coming over to eXp Realty, and wants to parther with Frank, but Samantha is looking to join a type of team for accountability. In this scenerio, Samantha can list Frank as primary sponsor, and Samantha can name another agent Denny as co-sponsor, and thus Samantha would have access to
When Smanatha comes over to eXp Realty
Frank as the primary sponsor will gett he stock award, will get revenue share from levels 2-7, Denny as co-sponsor to
Revenue share does flow up the Primary Sponsor’s upline, and revenue share does not flow up to Co-Sponsor’s line.
When Samantha signs up Anna, revenue share from Anna flows up Franks upline, but does not flow up Denny’s upline.
Denny receives 1-7 level revenue share, but revenue share does not flow up Denny’s upline.
Denny becomes level 1
You are losing one level of opportunity (level 1), but maintain 100% of levels 2-7.
As primary sponsor you get stock, revenue share, FLQA credit, levels 2-7. (Rev Share DOES flow up to Primary Sponsor’s line.)
Co-sponsor gets Rev Share, 50% Fast Start Bonus, Levels 1-7 (but Rev Share does NOT flow up to the Co-Sponsor’s line.
Case Uses of co-sponsorship:
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