eXp Realty takes pride in all eXp agents, recognizing the hard work and commitment they bring to the real estate world. Among the eXp diverse agent population, there is a select group who achieve exceptional production levels, reflecting eXp Realty's core values and high standards - these agents are granted with the 'ICON' status.
What is the eXp ICON Program?
The ICON Program is a recognition and rewards initiative designed to celebrate the agents who not only meet or exceed high production requirements but also demonstrate a keen commitment to "giving back" to the eXp agent community. These agents are recognized for their dedication, leadership, and integral contributions to the eXp culture.
eXp ICONs are more than just top performers; they're role models, ambassadors of our values, and inspirations for their peers. ICONs serve the community by sharing their expertise and knowledge, actively participating in eXp-approved events, and genuinely investing in the growth and success of fellow agents.
The Criteria
Agents can achieve ICON status by meeting or exceeding specific production requirements during their Capping Period. While the detailed requirements and perks can be found in the ICON Program Glossary and other official documentation, some core highlights include:
eXp ICON Benefits:
ICONs can receive up to $16,000 USD in ICON Stock Awards, a membership in the private ICON Agent Workplace group, an ICON badge in eXp World, and company-wide recognition, among other exclusive benefits.
eXp ICON Production Stock Award Requirements:
These stipulate conditions related to company dollar cap, transaction volume, and other key performance metrics that an agent must meet to qualify for ICON status.
Mega ICON Team Production Requirements:
Designed for high-performing teams, these requirements factor in the collective contributions of all team members to achieve the ICON status.
ICON Cultural Commitment Stock Award Requirements:
This segment emphasizes the cultural and community contribution of the ICONs. Agents can earn additional stock rewards by actively participating and contributing to eXp's agent population and events.
Staying Updated with the eXp ICOn Program
It's important to note that the ICON Program undergoes periodic updates, with the current version effective from April 1st, 2023. Changes implemented will be applicable to all ICON agents moving forward, with provisions made for those already part of the program.
The ICON Program, with its robust structure, rigorous requirements, and rewarding incentives, underscores eXp Realty US's commitment to excellence and community building. We salute eXp ICON agents, appreciating the value they bring to the table, and urge all aspiring agents to familiarize themselves with the program, aiming to contribute and grow with the eXp family.
Disclaimer: This article is a summarized overview of the eXp Realty US ICON Program. For detailed terms, conditions, requirements, and benefits, agents are advised to refer to the official ICON Program Overview, the ICON Glossary, and the eXp Realty Independent Contractor Agreement (ICA).
Understanding the lingo of the ICON Program by eXp Realty. Here’s a glossary of terms that will help you get familiar with the program:
Company Dollar Cap: Once the amount of Company Dollar received from an agent’s closed Transaction reaches the Full Cap within the agent's Capping Period, eXp stops collecting the Company Dollar portion of the commission split. The agent then achieves a "Capped Status" until the end of the current Capping Period.
Capping Period: A span of twelve consecutive calendar months during which Company Dollar collected from an agent's transactions goes towards achieving the Company Dollar Cap.
Cap Concession: This term indicates a reduced Company Dollar Cap.
Cap Deferment: This mechanism delays when an agent starts paying Company Dollar on their transactions. Agents with a Cap Deferment begin their Capping Period on the Cap Reset Date.
Cap Reset Date: The day a new Capping Period starts and the accrued Company Dollar resets to zero. Typically, this date is the agent's Anniversary Date.
Cultural Commitment: A chance for active ICONs to earn stock by enriching company culture.
Full Cap: The specific amount of the Company Dollar Cap as detailed in the ICA.
Full Cap Team Member: A team member who has a signed Full Cap Election Form with eXp Realty.
ICON Cultural Benefit Year: A year, following the achievement of ICON status, during which ICONs enjoy cultural benefits.
ICON Qualifying Date: The day an agent achieves ICON Status.
ICON Qualifying Fee: Calculated as $5,000 minus Capped Status Transaction Fees.
Joining Grant: A predecessor to Cap Deferments, with some having changed the Cap Reset Date.
Mega ICON Team (MIT): A team with a Full Cap lead and over 10 members, each with a Cap Concession.
Reduced Cap Team Member: An agent with a Company Dollar Cap lower than the Full Cap.
Self-Organized Team (SOT): A team not looking for a Cap Concession. All members have the potential to become ICONs.
Settled Transaction: A transaction showing as "closed" in Enterprise, meaning the agent has been paid.
Standard Team Lead: The official leader of a Standard Team.
It’s essential to note that some terms used here may have broader definitions in the ICA or eXp Policies and Procedures. In case of discrepancies between this glossary and the ICA/eXp Policies, the latter documents will take precedence.
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