Becomming a Referral Agent
Referral Agents
If an agent is not very active, the answer might just be changing the license status. A reason many people let their license go inactive or expire at renewal time is that they do not have enough production to make staying active with eXp worth the expense. The license renewal fees, the Realtor association annual dues and quarterly dues, SUPRA box fees and other fees of having an active license all add up.
The great news is that we have a referral agent division here at eXp. As a rule, to be an active licensed agent with eXp Realty, the National Association of Realtors requires that 100% of agents must be a member of the local association. In our eXp Referral Agent Division, agents are under a different brokerage that is eXp Commercial and membership in the association is NOT required.
That means that if an agent wants to stay active as an agent, but not do the work of agents and working directly with clients, they can simply refer business to other agents in eXp Realty and can be paid for the referral after it closes!
Great news is that it’s temporary! You can transfer back over to the active agent eXp Realty side whenever you’re ready!
Breaking Down the License Status Options:
- Let your license totally expire – not recommended because it’s always harder to get it back and in the future if you decide you want it, you may have to take some 30 hour classes to make it active again.
- Put your license in “Inactive” status – this requires that you go to the Texas Real Estate Commission (TREC) website and login. Pay your renewal fee, but change your status to Inactive. You will not be required to complete any Continuing Education (CE). You will not be able to do ANY real estate related activities until your license is made Active again.
- Keep your license Active, but move to the eXp Referral Agent Division – You will need to take the 18 hrs of CE and pay your license renewal fee. You can do a late renewal by just getting the CE done in the next few weeks and then going in to pay your TREC renewal fees. The renewal fee I think is about $50 higher to pay the late renewal fee. Once your license is moved over to the eXp Referral Division, the monthly exp fee is only $50 a month instead of $85 and you will not have to pay any Association/MLS dues, but you won’t have access to the MLS anymore except through our consumer facing website www.dfwsearch.house.
***Please carefully read the eXp Referral Division FAQ. ***
As a referral agent, you will no longer be classified as part of the team under eXp Realty qualifications, but we will keep you on our emailing list so that you can stay in touch with what is going on and stay connected.
You are welcome to attend all training events and you will stay sponsored at eXp by your original sponsor. You can even stay on as FLQA if you earn at least $5000 in GCI every 6 months. (Note that this is only for qualifying transactions where you earn a minimum of $1000. Transactions earning less than $1000 do not count.)
Once you have looked those over, let us know if you have additional questions or concerns. If no questions and you are ready to start the process to become part of the eXp Referral Agent Division, complete the steps below.
Already with eXp? Follow this process!
Current agents – CLICK HERE to migrate to eXp Referral
1. Click the button above to request migration. Upon approval, you will be sent a new Independent Contractor Agreement (ICA) to sign as part of the eXp Referral Division (a subdivision under the eXp Commercial brokerage)
2. REQUESTING SPONSORSHIP: The link below will take you to the step-by-step instructions for license transfer/request for sponsorship in TREC. You will be using the EXP Realty commercial license # of 9010212. Make sure to follow the instructions all the way through to the end including the NEXT button. Also, please enter all information exactly as it is laid out in the instructional slides. INSTRUCTIONS: How to transfer your license / request sponsorship in TREC – Google Slides
(**Brokers ONLY: Please skip to slide 14, as you will not need to complete the same steps as a sales agent. You will simply be updating your address to show EXP’s address. Once you have made that update, reach out to your broker team at TX.Broker@expcommercial.com and let them know so they may complete your onboarding in our system. )
If you have any questions, please come see us in the eXp Commercial Lobby in eXp world or send an email to expreferral@expcommercial.com
eXp Contact – Jessica Fountain jessica.fountain@exprealty.net
MIGRATING AGENTS – IMPORTANT INFORMATION:
1. If you have ANY open transactions, the IT department will NOT be able to move you over. THIS INCLUDES YOUR NAME ON REFERRALS.
2. YOU WILL LOSE ALL ACCESS TO KVCORE CRM. DOWNLOAD ANY CONTACTS YOU HAVE. Click here for instructions.
3. You will temporarily lose access to your eXp Passport login during the migration process.
4. We will reach out to you once you are fully migrated and can affiliate your license with eXp Commercial.
5. Your license will be affiliated with eXp Commercial. Please wait until you have received confirmation you are migrated. Please DO NOT affiliate your license before your migration.
6. Once migrated, the accounting department will attempt to charge your payment method. Once processed, you will receive a number of emails. Please be sure to read all emails that arrive to you.
7. Be sure to complete and sign the Independent Contractor Agreement (ICA) and Acknowledgement. Sponsor cannot be changed.
New or Joining eXp Realty? Follow this process!
NEW eXp Agents – CLICK HERE to join the eXp Referral Division
1. Click the button above to apply, and select “Become an advisor” to start a new agent application.
2. Once your application is received, you will receive the Referral Independent Contractor Agreement (ICA) along with the other onboarding documents. (Please disregard the information on the application as it is tailored to the commercial brokerage.) This is a new process so once your application is received, you will be marked for the Referral Division. NOTE: You will not be charged the $250 fee that it has you agree to during the application. You will only receive the $50 monthly charge once you are fully onboarded to the Referral Division.
3. REQUESTING SPONSORSHIP: The link below will take you to the step-by-step instructions for license transfer/request for sponsorship in TREC. You will be using the EXP Realty commercial license # of 9010212. Make sure to follow the instructions all the way through to the end including the NEXT button. Also, please enter all information exactly as it is laid out in the instructional slides. INSTRUCTIONS: How to transfer your license / request sponsorship in TREC – Google Slides
(**Brokers ONLY: Please skip to slide 14, as you will not need to complete the same steps as a sales agent. You will simply be updating your address to show EXP’s address. Once you have made that update, reach out to your broker team at TX.Broker@expcommercial.com and let them know so they may complete your onboarding in our system. )
NEW AGENT ONBOARDING GUIDE
For Assistance, please contact Dr. David Reis
(203) 980-6811 | david.reis@yourdoseofrealty.com
Let’s Talk!
Let’s Talk! The entirety of living and working priorities and decision-making is shifting. It’s an amazing time to thinker colleagues to build by collaboration. Let’s connect and talk real estate business development.
david.reis@yourdoseofrealty.com
Phone
(203) 980-6811
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The views, opinions, and summary statements expressed in this presentation are those only of the presenter(s) (herein referenced as “opinion”) and do not represent official policy or policy positions of eXp World Holdings, it’s subsidiaries or vendor partners or clients (herein reference as “eXp”).
Any and all forward looking opportunity statements of participating in the practice of real estate within the operations of eXp Realty (residential), eXp Commercial, eXp international, or the use of or participation in the sale or representation of the capabilities of eXp in application are only the opinions of the presenter(s), and are subject to reinterpretation and change at any time.
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