ICON Program Overview (US)
ICON Program Overview
eXp Realty US
eXp Realty US celebrates all of our agents while also highlighting those who achieve exceptional production levels and exemplify our core values. Agents can achieve ICON status by meeting or exceeding the Program’s Production Requirements during their Capping Period. Once involved in the ICON Program, there are additional opportunities for ICONs to earn more awards by “giving back” time, talents, and knowledge to eXp’s agent population and also by attending specific eXp-approved events.
ICON agents are an integral part of eXp's culture. ICONs serve as role models, culture keepers, and a source of inspiration to other agents at eXp. To embody the ICON agent status, we ask that all ICONs familiarize themselves with the Program and participate to the fullest extent possible.
Please refer to the glossary of terms defined in the ICON Program Terms/Glossary (the “ICON Glossary”) for an extensive list of program-related definitions and terms; defined terms that are used but not otherwise defined in this ICON Program Overview or the Glossary shall be as defined in the eXp Realty Independent Contractor Agreement (“ICA”) or the eXp Policies and Procedures (“eXp P&Ps”). To the extent there may be any conflict between the terms or definitions contained within this ICON Program Overview or the ICON Glossary, on the one hand, and the ICA or eXp P&Ps, on the other hand, the terms contained within the ICA and eXp P&Ps shall be controlling.
ICON Benefits
- Receive up to $16,000 USD in ICON Stock Awards
★ $8,000 by meeting the ICON Production Award Requirements
★ $4,000 by meeting the ICON Cultural Commitment Award Requirement
★ $4,000 by meeting the ICON Event Award Requirement ($2,000 per eXp approved event)
- Membership in the private ICON Agent Workplace group
- ICON badge in eXp.World
- Exclusive access to the customizable ICON Brand Kit
- Company-wide recognition via an article on life.exprealty.com, an announcement posted in Workplace, and during Friday Leadership Meeting
- ICON frame available to use in Workplace
- ICON Production Trophy
ICON Production Stock Award Requirements:
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 |
|---|---|---|---|---|---|---|---|---|
|
Agent
Type
|
Option 1
|
Option 1
|
Option 2
|
Option 2
|
Option 2
|
Option 2
|
Mega Team Option
|
Mega Team Option
|
|
Agent
Type
|
Cap
$16K
|
Cap
Fee $5K
|
Cap $16k
|
GCI $500K
|
10 Closed Transactions
|
ICON Qualifying Fee
|
Cap $16K
|
|
|
Individual Agent
|
⚫
|
⚫
|
⚫
|
⚫
|
⚫
|
⚫
|
|
|
|
Self Organized or Standard Team Lead
|
⚫
|
⚫
|
⚫
|
⚫
|
⚫
|
⚫
|
|
|
|
Full Cap Team Member
|
⚫
|
⚫
|
⚫
|
⚫
|
⚫
|
⚫
|
|
|
|
Mega Team Lead
|
|
|
|
|
|
|
⚫
|
⚫
|
Table 1
Any agent that has paid the full Company Dollar Cap and has met the additional requirement(s) will achieve ICON status in the month following the qualifying Settled Transaction. All Transactions must be completely settled and properly documented in Skyslope.
A representative of the ICON Program will notify qualified agents of their ICON status by the 25th of the month following achievement of the Production Award Requirement (“Production Requirement”). If an agent believes they have qualified for ICON status and have not received an email notification by the 25th of the following month, that agent should email iconaward@exprealty.net to inquire.
All ICONs are strongly encouraged to complete ICON Orientation. This is an on-demand class.
Each Capping Period, the agent must meet ONE of the following Production Requirements (as shown in Table 1 above):
- Paid Company Dollar Cap of $16,000 and Capped Status Transaction Fees of $5,000
OR
- Paid Company Dollar Cap of $16,000 and annual Gross Commission Income (GCI) of $500,000 or more with a minimum of ten (10) closed transactions and payment of an ICON Qualifying Fee. The ICON Qualifying Fee only applies to the ICON Program–the agent will continue to pay transaction fees based on the schedule laid out in section VIII. AGENT FEES of the P&Ps.
ICON Qualifying Fee is equal to the amount in this Program Overview less Capped Status Transaction Fees paid. Local taxes may apply in addition to the Qualifying Fee.
Mega Team Production Stock Award Requirements:
Mega Teams have a Production Requirement of $56,000 and are eligible for consideration for ICON status when BOTH of the following stipulations are met during the team lead’s Capping Period:
- Team Leader has paid the Company Dollar Cap of $16,000
AND
- The remaining $40,000 must be met by the collective contributions of Reduced Cap Team Members’ Company Dollar Caps. The team members’ Company Dollar is totaled during the team lead’s capping period. *Company Dollar paid by Full Cap Mega Team Members does NOT count towards this requirement.
Please note that certain addenda to an agent's Independent Contractor Agreement may affect their ability to ICON.
ICON Production Stock Award Issuance Plan:
Upon review and approval of Production Requirement achievement, the ICON agent will be granted $8,000 in restricted stock units of publicly traded eXp World Holdings, Inc. common stock (NASDAQ: EXPI), which vest after three years. These shares of EXPI common stock will be issued and vest so long as the ICON agent remains in good standing and licensed exclusively and continuously with eXp Realty at the three-year vesting mark.
Stock awards earned under the Program will be granted at the end of the calendar month in which the ICON agent is recognized (the month following the qualifying Settled Transaction) with the fair market value, as determined by the closing market price of EXPI’s common stock on the trading day that is the 15th day of the month. If the 15th day of the month falls on the weekend or a market holiday, the stock award grant price will be based on the fair market value of the most recent trading day. For avoidance of doubt, restricted stock unit awards are subject to vesting and are not deemed issued until vested.
Example: If an agent qualifies for ICON status with a Transaction that closed on August 5th, they will be recognized as a September ICON and their stock award of EXPI common stock will be granted with a date of September 15th . Stock awards will reflect in Shareworks at the end of their achievement month. Their ICON Cultural Benefit Year will run from September to September.
ICON Cultural Commitment Stock Award Requirements:
Community is one of our core values. Successful agents giving back to our agent population feed into the proverbial “rising tides lift all boats” philosophy. While an ICON is in an active ICON Cultural Benefit Year they have the ability to earn an additional $4,000 in EXPI common stock by giving back to eXp and/or eXp’s agent population and thereby satisfying the Cultural Commitment requirements.
This Cultural Commitment tracking begins after the agent has achieved ICON status and has been recognized, launching the ICON Cultural Benefit Year. The ICON’s objective in order to earn their stock award is to earn a total of 20 Cultural Commitment points before the end of the ICON Cultural Benefit Year by participating in various “give back” opportunities.
Please see US ICON Cultural Commitment Points Guide for more details on ways to earn points.
ICON Cultural Commitment Stock Award Issuance Plan:
In the month following completion of the Cultural Requirements during the ICON Cultural Benefit Year, a final audit will be completed to verify if the ICON agent has met the Cultural Commitment points requirements to earn the additional stock award.
The Cultural Stock Award will be posted in the ICON agent’s Shareworks account the month following the completion of the Cultural Requirements. This stock award has a one-year vesting period. Stock will be issued and vest as long as the ICON agent remains licensed exclusively with eXp for the duration of the one-year vesting period.
ICON Event Attendance Stock Awards Requirements:
ICON agents have the opportunity to earn a stock award of up to an additional $4,000 worth of EXPI common stock in the month following attendance of eXp approved events; a stock award of $2,000 worth of EXPI common stock will be issued for each event attended, for a maximum of two events per ICON Cultural Benefit Year.
Due to the nature of date changes within events, we encourage all who have intentions of, or are tracking towards, earning ICON status to attend ALL events. Failure to do so could result in the inability to achieve full stock earnings in the ICON Program. Events credit is issued based on verified attendance at approved eXp events and coordinating achievement of ICON status. Agents cannot receive double credit for one single eXp event.
Should ICON status be earned by a domestic team, the attendance requirement is such that at least one member of the domestic team has verified attendance at each event. For virtual events, domestic team members’ participation can be combined to verify attendance.
If the event is in-person, ICONs must purchase the general admission ticket or higher and register onsite at the event to qualify for the event attendance stock awards. If purchased through the official event site, no further action is required. If a ticket is purchased from another agent, please email iconaward@exprealty.net. If the event is held virtually, specific guidelines will be provided on how to qualify for the event attendance stock award.
ICON Event Attendance Stock Award Issuance Plan:
Upon attendance verification, the stock award will be issued at the end of the calendar month following the month of the event with the fair market value, as determined by the closing market price of EXPI’s common stock on the trading day that is the 15th day of the month. If the 15th day of the month falls on the weekend or a market holiday, the stock award grant price will be based on the fair market value of the most recent trading day. The ICON Event Attendance Awards do not have a vesting period.
ICON Program Frequently Asked Questions
General Program FAQs
How do I sign up to become an ICON Agent?
The ICON Program recognizes agents who meet specific Production Requirements. There is no sign up or opt-in; as long as you meet these requirements you will be contacted by the ICON Team.
When will I be notified that I have achieved the Production Requirement for ICON status?
Agents will be notified by email at their eXprealty.com address before the 25th of the month following achievement of the Production Requirements. Example: If you achieve the Production Requirement in February, you will be considered and recognized as a March ICON. You would be notified of your achievement before the 25th of March.
When will I be recognized publicly as an ICON?
ICON agents will be recognized in an article on life.exprealty.com, eXp’s website for agent news, towards the end of the month after achieving ICON status. In addition, they will be highlighted at the Friday Leadership Meeting and on Workplace.
How do I track my ICON Status?
Refer to this document to self-track your ICON status using Enterprise.
Can I apply production at my former brokerage to eXp Realty to help me achieve ICON status?
No. Our ICON Agent Award is a production award that must be earned here at eXp Realty. Production completed at a former company does not apply to the requirements for the award.
Can agents that are buyer-representatives be ICONs?
Yes. The Production Requirement to become eligible for ICON status is to pay the full Company Dollar cap amount (currently $16,000) plus the $5,000 transaction fee cap, regardless of whether an agent represents sellers as a listing agent, or represents buyers as a buyer-representative.
When do I satisfy the Cultural Commitment requirement of “Giving Back”?
While an ICON is in an active ICON Cultural Benefit Year, they have the ability to earn an additional $4,000 in EXPI common stock by giving back to eXp’s agent population and thereby satisfying the Cultural Commitment requirements.
Transactions, Fees, & Capping FAQs
If I am on a reduced Company Dollar Cap, can I be an ICON Agent?
No. Agents on a reduced Company Dollar Cap are not eligible to earn the ICON Agent Award.
Can I pay the Company Dollar Cap upfront so I can become an ICON faster?
No. Every agent must contribute 20% of their Gross Commission Income per Transaction until the agent reaches their Company Dollar Cap. Agents are not able to pay more Company Dollar on a Transaction, nor can they pay Company Dollar out-of-pocket.
Can I pay the balance owed for the $5,000 Capped Status Transaction Fee cap if I don’t meet that requirement prior to my Cap Reset Date?
It depends. This is a production award. Generally, an agent may not pay out-of-pocket for the balance of Capped Status Transaction Fees owed to meet the $5,000 Capped Status Transaction Fee cap. Production must be met organically. However, an agent may pay out-of-pocket for the balance of Capped Status Transaction Fees owed to meet the $5,000 Capped Status Transaction Fee cap when that agent has met or surpassed $500,000 in GCI with a minimum of 10 transactions, as more fully described below.
I have met or surpassed $500,000 in GCI and have a minimum of 10 transactions. Can I pay the balance owed for the $5,000 Capped Status Transaction Fee cap to reach ICON status?
Yes. If an agent has met or surpassed $500,000 in GCI and has completed a minimum of 10 transactions, then that agent may pay an ICON Qualifying Fee. Payment of an ICON Qualifying Fee is only to enable an agent to qualify as an ICON agent - it is not intended to, and will not, move an agent to a Capped Status. The Capped Status Transaction Fee will continue to be collected at the stated rate until $5,000 has been collected, at which time it shall be collected at the reduced rate of $75 per Transaction for the remainder of that Agent’s Capping Period. ICON Qualifying Fee is equal to the amount in this Program Overview less Capped Status Transaction Fees paid. Local taxes may apply in addition to the Qualifying Fee.
In what situations would I want to pay the ICON Qualifying Fee?
There are a few factors that could influence your decision such as your Cap Reset Date, what your ICON Qualifying Fee would be, and the company’s stock price.
Example: Agent surpassed $500,000 in GCI and has closed 10+ transactions by the month of June. Agent’s Cap Reset Date is August 1 and the agent’s Capped Status Transaction Fees paid as of June 30 are $3,600.
In this case, the agent has two options:
- Pay the $1,400 ICON Qualifying Fee to be recognized as a July ICON, continue to pay Capped Status Transaction Fees until the agent’s Capping Period resets on 8/1.
- Choose to wait and see what the ICON Qualifying Fee would be at the end of July and be recognized as an August ICON if they do not hit the $5k in Capped Status Transaction Fees as of 7/31.
What fees are included for ICON purposes?
In the ICON Program, we look at total Capped Status Transaction Fees paid during the agent’s Capping Period. We do not differentiate based on the source of the Transaction. If an agent has paid Capped Status Transaction Fees, those fees are counted for ICON qualification purposes. We do not set or apply fees, we merely report on them. For specific questions regarding your fees beyond what we have outlined, please reach out to your Payment Processing team.
Can I elect to pay the full Capped Status Transaction Fee on a transaction if I haven’t received the full commission?
No. Capped Status Transaction Fees are split in direct proportion to the commission split. If you split the commission 50/50.
If I represent both sides of a transaction do I pay the full $250 Capped Status Transaction Fee for each side of the transaction?
Payment of a Capped Status Transaction Fee applies to each side of a Transaction closed by an agent in a Capped Status, unless the Agent is in a “One eXp Agent, Two Transaction Sides” transaction (defined below), in which case the Agent is charged only one Capped Status Transaction Fee per Transaction, not per Transaction side. The term “One eXp Agent, Two Transaction Sides” means a dual agency transaction in which one natural person represents a buyer and seller in the same transaction.
Do Personal Transactions count towards ICON production?
Yes.
How Much Is The Personal Transaction Fee?
The Personal Transaction Fee amount is as follows: (i) a purchase Transaction or sale Transaction will carry a $250 Personal Transaction Fee (in addition to the Transaction Review Fee and Risk Management Fee); and (ii) a lease Transaction will carry a $75 Personal Transaction Fee and either, (a) no Transaction Review Fee or Risk Management Fee (if the GCI is $1,000 or less), or (b) a Transaction Review Fee and Risk Management Fee (if the GCI is greater than $1,000). The Personal Transaction Fee is taken as a charge against the agent’s Contractor Dollar. No Company Dollar is paid on Personal Transactions. If an agent is in a Capped Status, the agent will pay the Capped Status Transaction Fee.
What fees are included in the Fees Paid section on my Dashboard in Enterprise?
The fees paid on your dashboard are all agent fees paid in a transaction which include Transaction Review Fees, Risk Management Fees, Personal Transaction Fees, etc. This amount is not a representation of your ICON status.