eXp rolling out rev share changes
The company is responding to “a critical time for agents,” said founder Glenn Sanford. New incentives will take effect Nov. 1.
eXp has announced two significant changes to its compensation structure, both of which are designed to reward high-performing agents with additional benefits.
The new incentives, which will take effect Nov. 1, "are rolling out at a critical time for agents in the real estate industry," said Glenn Sanford, founder, chairman and CEO of eXp World Holdings.
A closer look at the compensation changes: One of the programs is for agents who have reached ICON status, a designation that's based on performance with a strong connection to the company's core values.
The ICON Incentive Program credits ICON agents with 30 "front line qualifying agents" (FLQAs) for 13 months, maximizing their revenue share potential for all levels of the company's seven-tier model.
The Revenue Share Capping Incentive Program, meanwhile, credits agents with 10 FLQAs for 13 months if they reach their cap with closed transactions. That increases their earning potential through level five.
"We are not just rewarding performance, but empowering entrepreneurial agents with the tools and incentives they need to stay ahead in a rapidly changing market," Sanford said.
eXp's evolving incentives: The company, which said it paid out $232 million in revenue share and stock benefits last year, considers its rev share program a key component of its attraction strategy.
The company made additional changes to its compensation last year, including the launch of its "Accelerate" program in September of 2023 to unlock additional rev share tiers for newer agents.
More recently, eXp announced changes intended to benefit mid-level recruiters. REVenue Share 2.0 rolled out in May 2024, allowing agents to earn rev share faster and instantly withdraw earnings for transactions that have closed. In July, the company began offering an agent attraction bonus of up to $4,000 for each new agent directly sponsored.
Out with the old, in with the new: During the company's last few earnings calls, eXp leaders have said they've been working to offload unproductive agents while recruiting new agents — but they are taking a thoughtful approach. In August, CEO Leo Pareja told investors that while the company would continue to look at new compensation opportunities, he "would caution that you're making sure that you're not giving away the farm to create a not-sustainable business model."