Team Transactions FAQ
CAN TEAM MEMBERS ONBOARD BEFORE THE TEAM LEADER?
Yes, but keep in mind that team agreements cannot be sent and pay plans cannot be updated until the Team Leader is on board and an active eXp Agent. There is another option: an 'Interim Team Leader' can be selected until the actual Team Leader onboards.
WHAT NEEDS TO BE COMPLETED BY AN AGENT TO BE RECOGNIZED AS A TEAM MEMBER?
An eXp Team Addendum to the ICA will be sent via DropBox Sign to the Team Leader and Agent's email addresses provided when onboarding. Note: The Agent will not be recognized as part of the team until both the Team Leader and Team member sign. The Agent's payplan and company dollar cap will not be updated until this document is executed.
HOW DO TEAMS ENTER COMMISSION SPLITS?
eXp utilizes SkySlope as out Transaction Management platform. Team splits will need to be listed on the Commission tab in SkySlope for every file entered
CAN A TEAM LEADER PAY FOR A TEAM MEMBER'S COMPANY DOLLAR OR TRANSACTION FEES?
Yes, this must be noted in the commission section of SkySlope on each transaction with details. The Agent covering the fees must have enough payment in their commission split to cover the amount. Note: the company commission covered by the Team Leader will apply to the cap of the Team Member.
WHAT IS A 'PASS-THRU'?
When files are finalized at your former brokerage and are indicated as such on the closing documents, these types of transactions do not necessitate a SkySlope file. In this case payments will be made directly to the Agent(s) without any deductions for eXp fees, and they will not contribute to the Agent's eXp production or cap.
HOW ARE COMMISSIONS CALCULATED?
- Outside referral amounts are deducted.
- Gross commissions are divided between the Team Leader and Team Member(s) considering any bonus or concession amounts applied as outlined by the Team.
- eXp Realty company dollar and fees are deducted from each Agent individually. Transaction fees such as broker review, risk management, and capped transaction fees are per file, not per Agent.
More Questions? Synergy Operations: synops@exprealty.net