eXp Realty of Canada, Inc. celebrates all our agents while highlighting those who achieve exceptional sales volume and exemplify our core values(. We recognize their business acumen, integrity and cultural contributions by offering the opportunity to earn ICON Agent status. ICON status is reserved for those agents who meet or exceed the minimum production during their anniversary year and operate in alignment with our core values.
ICON Production Requirements:
A single agent, domestic team or members of a standard team are eligible for consideration for
ICON status when one of the following is met per anniversary year.
- Paid eXp Realty annual cap (currently $16,000) and annual per agent transactions fee cap
- Annual gross commission income of $500,000 or more with a minimum of ten (10) closed transactions and payment of an ICON Qualifying Fee equal to $5,700 less capped transaction fees paid.
Mega ICON Teams have a production requirement of $56,000 and are eligible for consideration for
ICON status when the following is met per anniversary year.
- Team Leader has paid the eXp Realty annual cap (currently $16,000)
- The remaining $40,000 must be met by the collective contributions of the team members’ caps.
ICON Vetting Process:
ICON candidates, both new and returning, will be interviewed by a current member of the ICON Vetting Committee the month after achieving the production requirements. The purpose of the interview is to confirm the candidate operates in alignment with eXp Realty’s core values.
ICON Agent Award for Production Achievement:
Upon review and approval of production achievement and ICON Interview completion, the ICON will be awarded $8,000 in publicly traded eXp World Holdings common stock which vests after three years. Stock will be issued and released as long as ICON Agent remains licensed exclusively with eXp Realty Canada at the three year vesting mark.Shares will be added to the monthly company release at the end of the month ICON is recognized with the closed market share price of the 15th of the month. If the 15th falls on a weekend, the date used will be on the Friday prior.
ICON Cultural 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.
ICONs can contribute to our agent population by actively serving in one of the four designated cultural commitment opportunities. The option chosen will be the Cultural Commitment that is tracked; however, ICONs are more than welcome to participate in all opportunities. The cultural commitment tracking begins after the agent has achieved ICON Status and during the ICON Benefit Year. The ICON Benefit Year is defined as the 12-month period following ICON status achievement.
Apply and serve 12 months as a Mentor in the eXpand Mentor Program
ICON Instructor – eXp University Sign up and teach any of the predetermined topics below at least six times within the ICON Benefit Year.
- Lead Generation
- Building a Team
- Open House
- Scripts and Dialogs
- Database Management
- Social Media Marketing
- Working with Buyers
- Working with Sellers
- Farming/Community Outreach
- ICON Culture
- Tracking Your Numbers
- Working Expireds
- Working FSBOs
- Building a Referral Network
- Time Management
Sign up and participate as a panelist or Moderator at least 12 times within the ICON Benefit Year.
Monthly ICON Mastermind Moderator
ICON Team Talk Panelists/Moderator
ICON Vetting Committee Member
Vet a minimum of 12 ICON candidates within the ICON Benefit Year
ICON Agent Award for Cultural Commitment Participation:
The ICON has the ability to earn an additional $4,000 of publicly traded eXp World Holdings common stock by satisfying the cultural commitment requirements during their ICON Benefit Year. This stock award has a two-year vest period. Stock will be issued and released as long as ICON Agent remains licensed exclusively with eXp Realty Canada at the two-year vesting mark.
On the 12-month anniversary of the original ICON award grant date, a final audit will be completed to verify if the ICON agent has met the cultural requirements to earn the additional stock award.
Upon verification, shares will be added to the monthly company release at the end of the month of the 12-month anniversary with the closed designated market share price of the 15th of the month. If the 15th falls on a weekend, the date used will be the Friday prior.
ICON Agent Award for Event Attendance:
The ICON has the opportunity to earn the remaining $4,000 of publicly traded eXp World Holdings company stock split into two equal payments of $2,000 by attending the eXp Shareholder Summit and EXPCON after ICON status is achieved and during the ICON Benefit Year.
Upon attendance verification, shares will be issued at the end of the following month after each event. The closed designated market share price is based on day 15 of the event month.( If the 15th falls on a weekend, the date used will be the Friday prior. This portion of the award is available with no vesting period.
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.
ICON Status Benefits:
- Receive up to $16,000 ICON Agent Award
- Membership to the private ICON Agent Workplace group
- Inclusion in ICONic Roundtable Discussion events
- Inclusion in the monthly ICON Mastermind
- Inclusion in ICON agent press release
- Receive ICON logos for marketing purposes
- Company recognition via an announcement posted in Workplace and recognition in Friday
- Receive ICON badge in eXp World
- ICON frame available to use in Workplace
- Membership in the ICON Agent Directory (under development)
- Recognition at the annual EXPCON Awards Gala
- Receive an ICON Production Trophy
- Invitation to ICONic events at both Shareholder Summit and EXPCON events
ICON Agent Award Issuance Plan:
ICON can earn up to $16,000 CND Stock Awards
$8,000 CDN – Three-year vesting period Granted when agent meets production requirements. Production requirements are met by either of the following:
1) paying in the $16,000 CDN Cap and completing the $5,700 CDN Capped Transaction Fee amount; or
2) closing $500,000 CDN in GCI with a minimum of 10 closed transactions and payment of an ICON Qualifying Fee equal to
$5,700 CDN less capped transaction fees paid.
$4,000 CDN – Two-year vesting period Granted if and/or when agent meets cultural requirements on the 12-month anniversary of the original ICON award grant date. Cultural requirements are satisfied during their ICON
12-month Benefit Year. ICON Benefit Year is defined as the 12-month period following ICON status achievement.
$2,000 CDN – Issued the following month after verification of event attendance. No vesting period. Granted by attending the eXp Shareholder Summit after ICON status is achieved and during their ICON Benefit Year.
$2,000 CDN – Issued the following month after verification of event attendance. No vesting period Granted by attending EXPCON after ICON status is achieved and during their ICON Benefit Year.
Anniversary Year Your ICON status is determined by your production during your anniversary year which is based on your hire date.
Example: If you were hired on 7/10/19, your anniversary year would be 8/1/19-7/31/20. Your anniversary date will always round to the first of the following month.
ICON Benefit Year The ICON benefit year is defined as the 12-month period following ICON status achievement.
Example: If you are recognized as a January 2020 ICON, your
ICON benefit year would be January 2020 to January 2021.
FAQs for the ICON Agent Award
How do I sign up to become an ICON Agent?
The ICON Agent Award is not a program you sign up for, but rather a production award that is earned.
When will I be notified I have achieved the production requirement for ICON status?
Agents will be notified by email between the 5th and the 7th of the first week of the following month production requirements are achieved. Example: If you achieve the production requirement in February, you will be considered and recognized as a March ICON. You would be notified between the 5th and 7th of March.
When will I be recognized publicly as an ICON?
We will issue a press release and post an announcement in Workplace at the end of the month you are recognized or the beginning of the following month. Recognition will take place on the Friday following the press release.
Can I apply production at my former brokerage to eXp Realty to help me achieve ICON
Status? 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 my buyer’s agents be ICONs?
The production requirement to become eligible for ICON status is to pay in the full company commission cap (currently $16,000) plus the $5,700 transaction fee cap. Agents on a reduced cap are not eligible to earn the ICON Agent Award.
When do I satisfy the cultural requirement of “Giving Back”?
The cultural commitment requirement begins after the agent has achieved ICON status and will be tracked during their ICON benefit year.
Can I pay the company commission cap upfront so I can become an ICON faster?
Every agent must pay their cap by contributing 20% of their Gross Commission Income per transaction. You are not able to pay more or out of pocket.
Can I pay the balance owed for the $5,700 transaction fee cap if I don’t meet that requirement prior to my cap reset date?
This is a production award. We do not allow you to pay out of pocket for the balance of transaction fees owed to meet the $5,700 transaction fee cap. Production must be met organically. The only time this is allowed is when an agent has met or surpassed $500,000 in GCI with a minimum of 10 transactions. We provide the option for these agents to fulfill the complete cap after achieving the $500,000 in GCI and 10 transactions.
Can I pay the entire transaction fee on each transaction rather than sharing it with another agent?
Because the capped transaction fee is “per transaction” and NOT “per agent,” capped transaction fees are always split between agents on a transaction equal to the percentage of commission each agent earned. Example: If a team leader split the transaction 50/50 with one of their team members, each would pay 50% of the capped transaction fee. Same applies to referral fees.
If I represent both sides of a transaction do I pay the full $285 transaction for each side of the transaction?
One of the generous benefits eXp Realty offers to its agents is the ability to represent two sides of the transaction and only pay one transaction fee. The transaction fee is per transaction not per side, therefore the single transaction fee will be split between both sides.
Do personal transactions count towards ICON production?
A personal transaction pays a $250 capped transaction fee which counts towards your capped transaction fees. No company dollar is paid on personal transactions. If you have capped, you will still pay the capped transaction fee or 20%, whichever is less.
How do I track my ICON Status?
ICON status may be viewed by logging into your Enterprise records. On the left side of the screen click on “Transactions.” In the middle of the screen you will see the tab “My Capping Details.” There you will find your cap fee amount and your company commission amount. You can also click on “Transaction Report” and export to a spreadsheet.
What fees are included in the Fees Paid section on my Dashboard in Enterprise?
The fees paid on your dashboard are all fees paid in a transaction which include broker fees, risk fees and transaction fees. This amount is not a representation of your ICON status.
Does my attendance to the live events qualify if it was before I achieved ICON status?
No. Your attendance to the events is only verified AFTER you achieve ICON status.
Can I register for the free ticket pass for the events to qualify for the event attendance stock awards?
No. ICONs must purchase the full price event ticket to qualify for the event attendance stock awards.