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Unveiling the Path to eXp ICON Agent: A Blueprint for Success in 2024

Updated: Mar 12

February 1, 2024 @armkeysuccess

The real estate landscape of 2023 is abuzz with the unparalleled growth and success of eXp Realty, a trailblazing cloud-based real estate company that has swiftly become the fastest-growing brokerage in North American history. This excitement is not limited to individual agents; even large teams and brokerages are making strategic moves, with over 30 independent brokerages and 40 mega teams choosing to align their businesses with eXp Realty. The driving force behind this momentum? The eXp ICON agent program.

In this comprehensive guide, we'll navigate the journey to becoming an eXp ICON agent, exploring the requirements, incentives, and the program's transformative impact on individual agents, team leaders, and broker owners.

Chapter 1: The eXp ICON Agent Program - A Catalyst for Individual Success

Section 1.1: Unleashing the Potential

Real estate professionals of all stripes are discovering that eXp Realty isn't just a brokerage; it's a gateway to elevating their business efforts tenfold. The company's agent-centric approach and innovative strategies have positioned it as a game-changer in the industry.

Section 1.2: Attraction Beyond Individuals

The allure of eXp Realty extends beyond solo agents, attracting even large teams and brokerages. The program's unique features and wealth-building opportunities are reshaping the landscape of real estate partnerships.

Chapter 2: Decoding eXp's Attractiveness - Wealth-Building Opportunities

Section 2.1: A Retirement Plan like No Other

For individual agents, eXp Realty offers a unique retirement plan through its stock incentive program and revenue share business model. The potential for wealth creation goes beyond traditional commission structures.

Section 2.2: Tools for Team Leaders and Broker Owners

Team leaders and broker owners find in eXp Realty a treasure trove of retention and outsourcing tools. The eXp ICON agent award stands out as a prestigious recognition, attracting top talent and fostering loyalty.

Chapter 3: Becoming an eXp ICON Agent - The Journey Unveiled

Section 3.1: Qualification Requirements

To be eligible for the ICON agent award at eXp, an agent must have capped at the company for their anniversary year. This involves paying a total of $16,000 to the company in splits at an 80/20 commission split, equivalent to approximately $2.66 million in real estate sold at a 3% commission rate. Following this cap, the agent must complete an additional 20 transactions or achieve a minimum production generating $500,000 in gross commission income within their anniversary year.

The eXp Realty ICON Award is revered as the most prestigious accolade in the industry. To illustrate, if an agent closes a $3 million home at a 3% commission rate, they would have capped at the company with one transaction. By closing an additional 20 transactions in the same year, bringing the total to 21 transactions, they would attain ICON agent status. Alternatively, in markets with higher-priced properties and lower transactional rates, an agent can become an ICON agent by grossing a total commission income of $500,000 in that year.

However, to fully capitalize on the incentives of an ICON Agent at eXp Realty, one must not only qualify on transactional and production metrics but also meet two company-specific cultural requirements, incorporating various factors to ensure they are an ideal representative of the ICON program and can receive additional stock awards.

Section 3.2: Cultural Requirements

The first cultural requirement entails becoming an instructor, trainer, or coach in either the eXp University program or the eXpand Mentorship program. Within 12 months of reaching ICON status, a qualified ICON agent must complete one of the following tasks:

  • Become an eXp certified mentor and serve the program for a full 12 months.

  • Become an eXp ICON Agent Instructor in eXp University and conduct six trainings within 12 months.

  • Participate in 10 ICONversations panels in eXp University within 12 months.

  • Become a current member of the ICON vetting committee and vet 10 or more ICON candidates within 12 months.

  • The eXp ICON agent award necessitates being an instructor in eXp University to meet cultural requirements.

The second cultural requirement mandates that the eXp ICON agent attends both company events held each year in the year following their ICON status attainment. By participating in the eXp Regional Rally and EXPCON, the ICON agent fulfills the "event attendance award" requirements, unlocking the full incentives offered to an ICON agent.

As a general reminder to our readers, it's important to note that the outlined requirements for eXp ICON agents apply specifically to the United States. For agents operating in any of the other 24 operational countries where eXp is currently active, the numerical requirements may vary slightly but are rooted in the same criteria (achieving cap status and completing a designated volume of transactions annually).

It's crucial to keep in mind that the ICON agent award is an annual accolade. Consequently, the criteria reset each year based on an individual's anniversary date with the company, mirroring the pattern of cap calculations. This annual reset mechanism enables agents to continuously qualify for and reap the incentives associated with the ICON agent award year after year.

Chapter 4: Incentives of an eXp ICON Agent - Turning Milestones into Rewards

Section 4.1: Stock Awards Unveiled

The pinnacle of achievement for an eXp ICON agent is the $16,000 stock award, symbolizing the recouping of the entire cap amount. This stock comes with a 3-year vesting period, aligning the agent's success with the company's long-term vision.

Section 4.2: Compounding Benefits

The incentives don't stop there. Additional stock awards are earned at different stages of the journey, ensuring that the financial benefits of being an eXp ICON agent continue to compound.

Chapter 5: The Impact on Teams and Brokerages

Section 5.1: A Beacon for Attraction

For team leaders and broker owners, the eXp ICON agent program becomes a powerful attraction tool. The financial soundness of the program allows smaller teams to compete on a global scale, attracting top agents without compromising their budget.

Section 5.2: A Shield for Retention

Retention is a constant challenge in the dynamic real estate world. The eXp ICON agent award, with its vesting periods, acts as a shield, keeping top performers within the team or brokerage instead of exploring new opportunities or starting their ventures.

Chapter 6: Conclusion - Navigating Success with eXp Realty

In the concluding chapter, we emphasize the transformative impact of the eXp ICON agent program. For individual agents, team leaders, and broker owners, eXp Realty emerges as a strategic partner, offering not just a platform but a pathway to unparalleled success in the ever-evolving world of real estate.

The journey to becoming an eXp ICON agent is not just a career milestone; it's a blueprint for navigating the future of real estate in 2024 and beyond. As the industry continues to transform, those aligned with eXp Realty are not just participants; they are pioneers shaping the future of real estate.

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