So, you’ve probably decided you want to join eXp and you’re wondering what the big deal is about signing a sponsor. As someone who didn’t know or care about sponsors when joining eXp Realty, you must understand what an eXp Sponsor is or you could miss out on a tremendous opportunity. In this post, I’ll teach you everything you need to know about eXp Sponsors.
Table of Contents:
- What is an eXp sponsor?
- Why is choosing the right sponsor important?
- How do I choose the right sponsor?
- Best eXp Sponsors
- eXp Sponsorship FAQs
- Can I change my eXp Sponsor?
- Can I sponsor an agent when I’m joining?
- What’s the difference between a sponsor and a mentor at eXp Realty?
- Should I name a sponsor at eXp?
- Do eXp sponsors get paid?
- Should I choose someone local as my eXp sponsor?
- Are there rules for eXp sponsorship?
- If I’ve already capped at my current brokerage, will eXp Realty honor that?
- Final Thoughts on eXp Realty’s Sponsorship Program
What is an eXp sponsor?
According to eXp Realty, an eXp Sponsor is the individual who made the largest impact on you joining eXp Realty. That person is compensated a small amount through eXp’s revenue share program for your success as a real estate agent.
I agree with this, to a certain extent. There are TONS of sponsors out there who can add real value to your business, not just by coercing you to join eXp.
For example, I was able to build a 20+ agent real estate team and close over 550 transactions in my first 3.5 years as a real estate agent. I was able to do this by hiring and delegating. If you feel unorganized and spread thin in your business, I’m the person to help you place leverage in your business.
Why is choosing the right sponsor important?
Imagine going to 2 different, incredibly busy realtors who make high incomes and asking them to help you. They probably have a family and kids at home they would rather spend time with than help some random eXp Agent.
But if you list someone as your sponsor, that agent gets paid a small fraction of your commission split. Therefore it’s in their best interest you do well. I think you should choose someone you WANT advice or coaching from.
Some people ask, “Should I choose a sponsor that’s local?” I consider that a conflict of interest. Do you share everything about your business with your competitors? I wouldn’t.
Some sponsors do absolutely nothing for their agents, while others strive to help their agents! It’s important to select someone that you think will provide value to your real estate business.
Another cool part about the sponsor program: I felt SO burnt out after building my team, I didn’t want to manage it all anymore. I didn’t build it the right way, and looking back I know what I did wrong.
I still loved everyone and wanted to keep the community. In comes eXp’s sponsorship program… It allowed me to keep everything I loved about our community, and get rid of what was driving me bonkers. Fortunately, I now get to help other agents avoid the mistakes I made, and help them build incredible businesses.
Are you looking for a new brokerage?
Do you want to build a REAL business and create REAL wealth alongside peers?
Five Pillars is the nationwide movement of real estate agents who are doing just that.
How do I choose the right sponsor?
This is very similar to choosing the right brokerage, so I encourage you to use the in-depth questionnaire from that page. eXp Realty doesn’t change its financial incentives on an agent-by-agent basis, so you can skip the part about splits and caps. It’s the same for everyone.
Choosing the right sponsor can be broken down into 3 questions prioritized from top to bottom:
1. Does the sponsor have a community/team I want to be associated with?
2. Has my potential sponsor done what I want to do or have they helped someone do what I want to do? Obviously, the first 1/2 of the question is more valuable…
3. What other benefits like systems, templates, one-on-one strategy sessions, live training, etc… do they provide?
Community
Some eXp sponsors have their own communities or ‘teams’. You can decide whether or not you want to be a part of their community.
For example, our community, Five Pillars, is a close-knit support group to share your pain, and wins, and send referrals.
It’s cringe to go on social media and talk about your $60k month of GCI… But we WANT to hear about you crushing it. We lift each other up and never hold back the truth when someone needs to hear it.
The Leadership of Your Potential Sponsor
There are a few people in eXp who only recruit agents. They have given the company a stigma that all eXp Realty agents are aggressive with agent attraction. Unfortunately, those people probably haven’t done anything that you want to do… Unless you want to be known as an icky recruiter.
I think the best eXp Realty sponsors are those who have done whatever you want to do in your business. They have a roadmap and can help you from veering off the path and getting stuck.
Whether it’s building a team, a referral business, or a specific lead-generation tactic, your sponsor should be able to guide you to success.
Other Benefits
The other benefits a potential sponsor can provide are ENDLESS. If your sponsor has become a cold call machine, chances are they will offer you all of their systems and scripts so you can crush cold calling too!
Here is a big list of possible benefits your sponsor might offer: Training on how to lead gen, referral tracking systems, email templates for all types of leads in any different stage, scripts, contract-to-close checklists, training on how to hire a VA, training on how to hire a transaction coordinator or listing coordinator, listing coordinator checklists, coaching on everything from lead generation to hiring… The possibilities are endless.
I give EVERYTHING I’ve made and learned in my real estate business to my people. There’s nothing I love more than seeing people succeed.
Best eXp Sponsors
So, you might be wondering who the best eXp Sponsors are. I’ve compiled a highly biased list of people who I know give tremendous value to the people they sponsor. These people are also real estate investors.
1. Shelby (Osborne) Johnson
Of course! I have to recommend myself! I won the Keller Williams Rookie of the Year for NC and SC in my first year selling real estate with 48 closings. I built my business on referrals from vendors and through my SOI. The cheapest, most profitable marketing is word of mouth!
Since then, I got into the marketing game and now have a firm grasp of what it takes to run social ads, direct mail, and other marketing channels. I have a TON to teach with the combination of SOI marketing and tens of thousands of dollars spent in paid marketing.
I’m now launching a podcast, the Be More Show for Agents where we talk about real estate agent life, struggles, and success. The goal is to get incredible people on the podcast and get actionable advice for agents.
Want to join a movement of real estate agents who are building REAL business and creating REAL wealth alongside their peers?Schedule a call with me!
Testimonial for Shelby Johnson as eXp Sponsor
“I wanted a team that provided in-depth agent training AND that would help me hit my investment goals… and I got way more than I ever imagined.
This team gave (and continues to give) me everything I need to be successful as an agent and investor. Shelby has taught me that there is always a solution for every real estate problem… and you get paid according to how well you solve those problems.
5P has everything you need – mentorship, training, and accountability. They provide the framework, you provide the leg work. Whether you succeed or fail is entirely your choice.” – Raul Medina
2. Ali Garced
Ali Garced is an AWESOME real estate agent in Tucson, AZ. She co-hosts the ‘Be More Show for Agents’ with me and is one of my favorite people of all time. Ali got her license while she was still on active duty in the Air Force, and within 10 months of being licensed, she made more as a Realtor than she did annually as an Air Force captain.
Since then, she has gotten out of the military and is on track to net over $200k this year. Her main lead generation is done via social media.
3. Jason Coleman
Jason Coleman is an absolute killer ICON agent out of Greensboro, NC. He and I have a lot in common in that our businesses are mostly built off of referrals from vendors and being well-known. To start his business, he cut his teeth door knocking through the hot summers of NC.
Jason thought he wanted to be a traditional team leader for a high-splits team. After telling him about my experience and what it’s ACTUALLY like, he adopted the eXp team model as well.
4. Erin Helle
Erin Helle graduated from the U.S. Military Academy in 2009 and is a self-made millionaire who achieved financial freedom through real estate investing in less than four years. To date, she has helped over 300 other investors build cash-flowing real estate portfolios. Erin created a system to allow her to live a life by design and now have the time and resources to give back to her network and community and focus on her family.
Erin’s real estate portfolio includes 93 rental units. Her courses and mentorship programs empower investors to dream big and ruthlessly pursue their goals! She has a personal goal of creating a million millionaires!
Erin is a Veteran, military spouse, and mom to two girls. Her passion is coaching and she loves inspiring and enabling her clients, students, and teammates to accomplish amazing things! She particularly loves to help women and girls realize their potential as achievers and investors.
Erin has been a guest on over 30 podcasts including the BiggerPockets Podcast. She has also been featured in numerous publications including Yahoo Finance, and she has been named as one of the Top 30 Female Entrepreneurs to Look Out for in 2022 by the NYC Journal and one of the Top 30 Realtors to Look Out for in 2022 by Entrepreneur Herald.
5. Landon Stone
Landon Stone is a traditional team leader in Greensboro, NC. He is an entrepreneur by heart and actively runs a team of real estate brokers, manages rehabs as a licensed general contractor, and is starting a property management company. Landon has a goal of being the ‘one-stop shop’ for everything real estate in the Triad of NC.
eXp Sponsorship FAQs
Below is a list of questions people frequently ask about eXp’s sponsorship program. If I don’t answer all of your questions, leave a comment at the bottom of the page and I’ll get you an answer within 24 hours.
Can I change my eXp Sponsor?
No, you cannot change your eXp sponsor but, if you leave eXp for 6 months, when you rejoin you can rename a different sponsor.
Can I sponsor an agent when I’m joining?
Yes, you can sponsor an agent to eXp during and before you join eXp yourself.
What’s the difference between a sponsor and a mentor at eXp Realty?
The difference between a sponsor and a mentor is that eXp mentors are temporary. They are only required for your first 6 transactions.
Should I name a sponsor at eXp?
Yes, you should name a sponsor at eXp. If you don’t, you could miss out on a ton of free value. There is no advantage to joining eXp without a sponsor.
Do eXp sponsors get paid?
Yes, eXp sponsors get paid a very small amount from eXp. Glen Sanford, the founder of eXp Realty wanted agents to be compensated even when the company was struggling.
In 2008, when the real estate market halted, Glen Sanford hardly made any money from Keller Williams Profit Share.
Should I choose someone local as my eXp sponsor?
No, you should not choose someone local as your eXp sponsor. Whether you like it or not, the people in your local market are competitors. I think your sponsor should be someone you can go to for advice, and if there is a conflict of interest, they could lead you incorrectly.
Are there rules for eXp sponsorship?
There are no rules for eXp’s Sponsorship program. Here is an excerpt from eXp Realty’s independent contractor agreement:
“Selecting a sponsor is an important decision and should be based on who has been most influential in your decision to join eXp Realty. Sponsor selection is part of this legally binding Agreement. A sponsor’s sole requirement to qualify as a sponsor is selection by the joining agent as having been the most influential person in his or her decision to join eXp Realty. Sponsors are encouraged to support joining agents throughout the joining process and beyond, but are not required by eXp Realty to do so. If the selected sponsor has made representations or promises above and beyond referring a joining agent to eXp Realty, it is the sole responsibility of the joining agent to confirm the sponsor’s ability and intent to deliver all additional support promised.
eXp Realty is not responsible for enforcing agreements between agents made outside of this ICA. If an agent removes his or her license from eXp Realty, terminates this ICA, and rejoins eXp Realty within 180 days from the date the agent’s license disassociated from eXp Realty, the previously named sponsor will continue to be named as that agent’s sponsor. However, after 180 days from the date agent’s license was disassociated from eXp Realty, the agent is free to rejoin eXp Realty and select a different sponsor.
If there is no individual who most influenced you to join eXp Realty, or you prefer not to select a sponsor for any reason, eXp Realty may be selected as the sponsor and will hold that position going forward. THE FOLLOWING IS A SIGNIFICANT DECISION WHICH IS IRREVOCABLE. PLEASE PAUSE TO CONSIDER CAREFULLY WHO THE MOST INFLUENTIAL INDIVIDUAL IN YOUR DECISION TO JOIN EXP REALTY WAS. CHANGES IN SPONSORSHIP WILL NOT BE MADE. IF THERE ARE ANY UNANSWERED QUESTIONS ABOUT SPONSORSHIP, STOP NOW AND RETURN TO THE ICA ONCE THE SELECTION OF SPONSORSHIP IS FULLY UNDERSTOOD.”
If I’ve already capped at my current brokerage, will eXp Realty honor that?
Yes, eXp Realty can and usually honors a cap at your current brokerage. eXp Realty’s cap deferment program is great for people who are coming from traditional brokerages like Keller Williams.
Final Thoughts on eXp Realty’s Sponsorship Program
As you can see, a sponsor at eXp Realty could change the trajectory of your real estate career. You should join a new community of people who are crushing it and learn about innovations in the real estate industry as they are happening. If I didn’t answer all your questions, drop a comment below or schedule a call with me.
