eXp Realty’s Mentorship program, like just about everything else the agent-owned cloud brokerage does, breaks the mold when it comes to training new agents. For the first time in the real estate industry, mentors have the flexibility, freedom and support to take on mentees without negatively affecting their real estate business!
Should I be a Mentor with eXp Realty?
Before we get into the financial benefits of joining eXp Realty’s Mentorship program, we’d like to highlight some of the reasons that veteran real estate professionals who have refused to be coaches, trainers, or mentors at other brokerages are now signing on for the program at eXp:
- Flexibility. The founders of the agent-owned cloud brokerage understood from the beginning that they wanted their best agents to be the ones mentoring incoming agents. With that in mind, they designed a system that would allow top producers to participate without taking time away from generating real estate business. Mentorship at eXp is not a full-time gig like it is at many brokerages; it’s a flexible agreement with the company that, once you are approved, you can take on mentees when you have time to do so, and another mentor can take them when you aren’t available. So, if you can only take two mentees during the Summer, but you have time for four or five in the Winter, you now have the flexibility to do that.
- Freedom. The technology suite provided by the company ensures you don’t have to miss listing appointments or office time with your team to meet with mentees. You simply login into eXp World, sit down with them for five or ten minutes (at a table like the one pictures below), and have a quick, private meeting to answer their questions.
- Support. eXp has a robust training schedule replete with videos and materials that address the bulk of the questions and concerns most new agents have. What this means for you is that you are not a trainer! In other words, you are there to provide advice on negotiating tactics, best practices, tips for handling objections, etc. You are not there to walk them through how to write an offer or how to login to the eXp Cloud. In addition to the videos and materials, your mentees have access to the Support Staff in the cloud for twelve hours a day and the individual state brokers are great about helping out as well.
Income from eXp Realty’s Mentorship Program
Now that you know a little more about the program, the natural question is, “What do I earn for my time?”
Before we get into the financial incentives, we’d like to mention one of the best mortgage lenders we’ve worked with. Mike Ruiz with Gateway Mortgage is a fantastic loan officer and a great option for your clients, no matter their needs:
The financial rewards are pretty straightforward: you receive ten percent (10%) of the mentee’s income for their first five closings. After that, you and the broker of record for your state/region will discuss whether the agent is ready to go on their own or whether they need to stay in the program a little longer. Those closings can really add up and, along with all of the other Extra Income opportunities that the agent-owned cloud brokerage offers, can serve as a significant source of income for you.
If you’re still asking yourself, “Should I be a mentor with eXp Realty?” maybe the benefits above aren’t as important to you as the impact you can have on others…
You Truly Are Changing Lives
We could spend another ten or twelve paragraphs talking about how you’re helping new agents find their way and earn a living, but many brokerages could say the same. The difference at eXp is that you are pointing them in the right direction with a company that provides benefits that have never before been available to real estate professionals!
Things like stock options, revenue share, and multiple sources of passive income are unheard of among real estate brokerages. Imagine helping a new agent start out at a firm where they can buy discounted stock for twenty or thirty years while simultaneously earning passive income from the most generous agent attraction package in the business. Realtors and brokers finally have retirement options that employees in other industries have had for decades, and you can be part of helping your mentees see that and take advantage of it.
**Please note: this post is not meant for agents who are already at eXp. This is meant for Realtors and brokers who are considering joining. If you are already with eXp, please call the company directly. This website is not run by the company.**
There are obviously many, many more things that we could say about eXp Realty’s Mentorship program, but if you are still asking: “Should I be a Mentor with eXp Realty?” please take a minute to Contact Us and just mention that you would like to speak with Jacqueline Knight about her experience. We think you’ll find it as rewarding as she has.