As a benefit for teams who are interested in joining eXp Realty and who fit in with the company’s culture, Thrive was created. It is currently only available in the United States and Canada, but if local laws allow it, it will eventually expand to our other international markets. In the fast-paced real estate market, originality is crucial. Conventional real estate brokerages have been a market mainstay for many years. But a recent entrant is throwing off the established order and altering the way real estate brokers do business. By offering a new method for buying and selling real estate, agent-owned eXp Realty, a cloud-based brokerage, transformed the real estate market.
The Differentiation of eXp Realty Unlike traditional real estate firms with physical locations, eXp Realty is a brokerage. Instead, it’s an online brokerage that places a high value on technological advancements. Since its 2009 founding, Glenn Sanford’s eXp Realty has grown quickly, functioning in all 50 states of the US and several Canadian provinces.
What Benefits Does Thrive Provide?
Even though managing a team is exciting, there are challenges and pain points that could prevent growth and satisfaction. The following benefits are possible for producing teams to expect from joining under Thrive:
Equity-Based Rewards
Thrive offers an incentive program for a team transitioning to exp realty top agents. Upon onboarding, the new team’s eligibility for an equity reward will be based on their performance in the previous year. They joined eXp Realty and would have received the fictitious retained company dollar at that time. After onboarding, eXp Realty will give the new team lead an equity award. It vests according to the team’s average annual retained company earnings during the first three years of work.
Team Training
As part of the eXp cultural alignment, teams will receive training on how to fully “plugin” and integrate with all of the communities and resources that are available to them. The ground-breaking idea of eXp will be covered in this training.
Assistance
Teams will receive administrative and operational support during the transition and after joining eXp, in addition to having access to cutting-edge tools and technology. plus something extra! Additional benefits include the possibility of revenue sharing and an enticing commission structure.
Who Is Thrive Suitable For?
Producing teams that have at least 10 agents (plus the team leader) and made at least $40 million (US/CAD) in sales in their home country in the previous fiscal year are eligible to use Thrive. (Other prerequisites are pertinent. Public disclosure of international certifications will occur.)
Additional Requirements for Groups
Needs to be compatible with other cultures and committed to adhering to the eXp Realty model.
- Must be dedicated to the continuous success of their team at eXp Realty.
- must participate in eXp Realty’s income share program.
- must agree to the terms and due dates for rewards and retention.
- eXp Realty retains the authority to determine which teams qualify for the Thrive program and the terms and conditions governing the cash incentives, even after all of these have been determined.
How Does This Program Work?
After onboarding, eXp Realty will give the team leader an equity reward based on the previous year’s performance. If the group had collaborated with eXp Realty during that entire year. 100% of the hypothetical retained business dollar that the team would have paid would have been the projected equity value. following the team leader’s three years of employment with eXp Realty. The average retained corporate dollar amount for the team will determine when the equity reward vests.
Why Does eXp Realty Offer a Program in the Style of Thrive?
To become the most agent-centric brokerage in the world, eXp Realty is committed to continuously pushing the boundaries of the real estate industry. The company will continue to draw in like-minded leaders and agents who will contribute to its expansion. by providing an enticing compensation plan along with a unique and empowering cloud-based platform to its brokers and agents.
Conclusion
Thrive was developed as a benefit for teams who are interested in working with eXp Realty and who mesh well with the company’s culture. These days, it’s limited to the US and Canada, if local laws permit it. In the end, it will spread to our other overseas markets. Although leading a team can be thrilling, some obstacles and problems could impede development and fulfillment. With the launch of eXp Realty, a new era in real estate brokerage has begun, one that prioritizes agent ownership, innovation, technology, and support. Because of its unique business approach, cloud-based platform, and commitment to agent success, it has been a disruptive force in the market. As eXp Realty gains more clout and influence, the traditional real estate brokerage industry faces challenges. Because of eXp Realty’s focus on teamwork, cutting-edge technology, and financial empowerment for agents, real estate will change for both clients and agents.
