Glenn Sanford’s eXp Realty is getting in on the revenue share program changes. The brokerage on Thursday launched Accelerate, an incentive program that helps agents maximize their revenue share earning potential during their first year with the brokerage.
The program is available in all 24 countries where eXp Realty operates and it is open to agents who joined on or after March 1, 2023. Accelerate automatically opens revenue share tiers 2 and 3 to eligible agents for a year, starting September 7, 2023, giving agents the opportunity to have 10 front line qualifying agents (FLQA) in their revenue share downline immediately. According to the release, after the year-long period ends, eXp’s standard revenue share criteria will apply.
“Accelerate was designed to reduce barriers and incentivize agents to grow their organizations,” Michael Valdes, eXp’s chief growth officer, said in a statement “It enables them to focus on selling and growing their businesses while earning the maximum potential revenue share for tiers two and three for the first year. Our aligned compensation model, where agents are rewarded for both production and contributions to eXp’s growth, brings more value than ever before.”
This is the second change eXp has made to its revenue share program in recent months. In June, the brokerage announced that it was refining revenue share criteria, reducing the current FLQA tier 7 threshold from 40 to 30 FLQA. The firm also launched Boost, a program that eXp says financial incentivizes qualifying independent teams and brokerages to join eXp.
“In the lifespan of an agent, a critical component of long-term success is the ability to build for their retirement, so we launched Accelerate to help catalyze their potential earnings and create momentum in the first year and build for their future,” Sanford said in a statement. “We continue to be relentlessly focused on delivering a model that puts agents first. I couldn’t be more proud of what we have created, especially for those looking to build long-term wealth, with our revenue share and equity programs for agents, as well as a favorable cap and split model.”
eXp is among several brokerages to announce changes to revenue share programs. Earlier this week The Real Brokerage announced that any agent who has recruited at least five producing Real agents into their network will be bumped into the second tier of the firm’s revenue share program.
Keller Williams has also made changes to its revenue sharing program in recent weeks, announcing that it will cut the profit share distribution for vested “former” KW agents (agents who joined the company before April 1, 2020) who jumped ship to another brokerage from 100% to 5%. Previously, vested “former” agents benefited from a 100% profit share distribution even after their departure. However, former agents who return to the company within six months of the effective reduction date will have their profit share restored to 100%.