eXp Realty launched a new program to attract more teams, the Thrive program, to agents in the United States and Canada, the company announced Friday.
With this latest vesting schedule, team leaders who onboard will receive a non-cash equity award proportionate to their previous 12-month production, according to a news release.
“As a company committed to continuously pushing the boundaries in support of our agents, eXp Realty is always looking for new ways to enhance the agent experience,” Michael Valdes, chief growth officer at eXp Realty, said in a statement.
“With the addition of Thrive, we are offering teams an accelerated equity opportunity. We understand that each team has its own unique culture and way of doing business, and we want to provide a platform for them to thrive in our agent-centric environment.”
Teams with more than 11 agents, including the team lead and those with a minimum of $40 million in annual sales volume, will be eligible for the program.
The brokerage plans to launch the program in its international markets where applicable, but qualifications haven’t been released.
eXp hopes the new incentive program fosters an ecosystem in which different teams can align culturally with eXp’s values, according to the release. Selected team leaders are expected to offer significant training to their agents to effectively integrate them into the eXp family.
eXp will release its financial results for the third quarter on Nov. 2.