As one of the world’s largest growing real estate companies, eXp Realty has the educational support to attract new agents and help them reach their full potential. eXp’s learning management system is unique because it provides newly licensed agents a way to remotely complete online and on-demand courses.
This article will look at the eXp Mentor Program, how it works, who it is suitable for, and how you can use it to become a successful agent in the real estate business.
What is the eXp Mentor Program?
eXp created a mentor program to provide newly licensed agents with a learning platform offering them the tools and fundamental knowledge they need to succeed.
A new agent is paired with an experienced agent and certified mentor in the program. As well as guiding the mentee through their initial sales transactions, eXp’s learning management system also provides an extensive 10-module course to build the mentee’s knowledge.
If you want to access the incredible growth opportunities eXp offers through their mentorship and educational programs and fast-track your career success, get in touch with Elizabeth Riley to get started today.
Is there a Difference Between a Mentor and a Sponsor?
A sponsor and a mentor are two completely different roles. Your sponsor will be the person that introduces you to eXp and encourages you to apply. On the other hand, a mentor gets assigned to new agents or those who have not made three successful sales over the past 12 months. Your mentor’s job is there to guide and assist you through your first residential transactions.
Who Can be in the Mentor Program?
The eXp Realty Mentor Program is designed to guide and assist newly licensed real estate agents. It will provide the fundamental knowledge needed to succeed in their real estate career.
Mentees will be any new eXp Realty licensee that hasn’t had at least three land, lot, or residential transactions within the last 12-months. Mentors will typically have completed a minimum of eight transactions within the last 12-month period, and at least two of these must be with eXp Realty. Next, they will be certified by the eXp University.
Experience and proficiency in contract writing and real estate transactions are essential. As well as having a solid knowledge of local rules and regulations, a mentor must be available and accessible to mentees. Mentors will be in good standing with the public and the national and local Realtor associations.
What is Expected of Mentees?
To build a successful real estate career, eXp agents are encouraged to reach their full potential and engage fully during the program. eXp Realty works quickly to appoint a suitable mentor to each recruit, but this isn’t always immediate due to availability in certain locations. In the meantime, agents can speak with local brokers, eXp support staff, their mentor program team, or their sponsor to answer any questions they may have regarding contracts or negotiations.
Mentees will be expected to be responsive to contact from mentors, stay engaged, and attend one-on-one meetings. Additionally, mentees are provided with a training curriculum that must be completed in the allotted timescale, typically 90 days.
When a mentor is working in the field, a mentee must make themselves available to join them and learn from them when possible. You must attend weekly state meetings to keep you updated with new laws, industry standards, and rules. You must also manage your work using the excellent resources provided by eXp Realty.
What is Expected of Mentors?
Mentors will actively engage with their mentees, provide training sessions, and schedule one-on-one meetings. Mentors must also hold their mentees accountable for completing scheduled coursework in the allotted time frame.
eXp Realty mentors are expected to invite newly licensed agents to appointments, allowing them to shadow and learn during negotiations, open houses, and more. The mentor will submit the Mentor Program Graduation Approval Form when the mentee is ready to hit the ground running.
How is the Commission Split?
eXp Realty employs a real estate brokerage model that offers an 80/20 commission split in favor of the agent. During the mentorship program, the new agent receives a 60/40 commission split to cover the expenses of the training and their access to learning materials.
Final Thoughts
eXp Realty wants its newly licensed agents to enjoy a successful real estate career, and its Mentor Program team is dedicated to providing the support to make that possible.
New eXp agents benefit from the support and guidance provided by an experienced agent that they can contact with questions and shadow to gain experience. The new agent will learn while completing the three necessary residential sales transactions and online courses, so they have the tools they need to succeed when they graduate.
If you want to access the incredible educational and mentorship opportunities offered by eXp to kick start your career and help you achieve realtor success, get in touch with Elizabeth Riley to learn how to get started.