The Monica Foster Team is multi-hundred million Real Trends top 25 team in the U.S. with several hundred transactions a year. Because of the team’s leadership and success over the years the team has been given opportunities with corporate partners that are not available to other teams. This includes being invited to become a Zillow Flex Partner (since April 2021) and a Realtor.com VIP Partner. Because of the team’s success corporate partners seek us out as they want to partner with the best. In order to continue to be one the best we work hard to make sure we are always adapting to the current industry and market conditions along with creating an environment for agent learning and success.
We do this with a variety of capabilities including a top-notch Inside Sales department which is the “tip of the spear” for lead opportunities, a team coach and trainer to help make sure you have all the help you need to be successful, automated follow up assistance, and a concierge team that utilizes our proprietary Transaction Concierge and Training (TCnT) system (automation-powered, human driven) to help you get your contracts to closing.
Our team mission is to consistently raise the bar on what consumers expect from real estate agents by leveraging our collective team experience from thousands of families helped and our team education to enhance the customer experience with unparalleled service and strategic advice. This mission statement is accomplished by adhering to the following core values:
- Service – We strive to provide the best service for our clients at all times
- Integrity – We make sure we adhere to the highest ethical standards in every decision we make or advice we give
- Knowledge – We make sure that our clients are armed with the best knowledge and advice available for their real estate needs
- Respect – We treat our clients and each other with respect at all times
- Results – We strive to exceed expectations and always produce the desired results for our clients
- Teamwork – We strive to help each other be successful because we all win together
The Partner Agent Program
The Monica Foster Team has a special trial program for potential team members where they get to keep their commissions on their SOI clients (conditions apply if you are new agent otherwise subject to the eXp mentor program) while they evaluate the team’s value proposition and the team evaluates their performance. This provides a limited-time, “try-it-before-you-buy-it” mechanism for both sides prior to the additional commitment from both parties that comes with being a team member. However, full team members do get better splits, a half eXp cap and lead priority (where applicable).
The Leadership Team
We are proud to say that the Monica Foster Team has a “best-in-class” leadership team. Monica Foster, Broker, Team leader, ICON agent, CRS, ABR, SRS, CHMS, CLHMS, CNE, ASP, CNHS, CDPE, SFR, RCC, ACP, coach and ambassador started over in real estate after moving to Houston in 2008 and by 2016 had the #1 team in the Greater Houston Bay Area. Her leadership and experience is bar-none. She is still in production while also being the ambassador for the team within eXp and the real estate industry.
Christopher Dean, the Director of Operations, has a Master’s Degree in Computer Engineering and retired from NASA in 2018 to run the team full time. He is responsible for tactical and strategic decision making to position the team to best meet its goals along with creating the large amount of automation the team relies on to scale to the level the team produces at.
Chrystal Tennyson, the Transaction Concierge Team Lead has a B.S. in Applied Design and Visual Arts and is a former process coordinator for the Engineering Directorate of NASA/Johnson Space Center.
Jolynn Gertson, our Sales Manager, Trainer and ISA Lead, comes to the team from HR Management and Real Estate Productivity Coaching.
Monica and Chris on the Coach Burt Podcast
Monica and Chris on the Tony King Show
Jolynn Gertson is a seasoned agent who was once a team agent but is now the Sales Manager for the team and the lead ISA overseeing all the ISAs, the leads, and their conversion. Formerly of KW she has experience in leadership and training that is crucial to the team’s success.
Chrystal Tennyson has a Bachelor’s Degree in Applied Design (focusing on graphic design and communications) and is the head of the Transaction Concierge department. Her former employment was process support for the Engineering Directorate at Johnson Space Center and she brought that knowledge to team to create and manage the automated transaction processes all agents use. With literally 1000s of transactions under her belt she has dealt with more situations than most agents have.
Together this leadership team and the team as a whole is here to support the agent and team goals to make sure everyone wins together!
The Collaboration Group
One of the unique things about being a partner agent or team agent on the Monica Foster Team is that you not only get all the benefits of the team but all the benefits of eXp *and* our collaboration group as well. We have our own Collaboration Group and corresponding Facebook Group. As members of the same revenue share group we all have a vested interest in each other’s success and it is our firm belief that together we can improve our businesses and increase our success within the modern eXp model. By joining our team and eXp you can benefit from the wide-array of experience, knowledge, and insights that our team and group has to offer.
Of course, joining our RSG under eXp Realty not only gives you those benefits but all the value add of eXp. As you may already be aware eXp is a modern, cloud-based real estate firm that shuns the traditional brokerage and franchise model for a more flexible and tech focused approach (along with being more profitable). You can practice real estate anywhere and have an office anywhere you want (or no office at all). eXp also has changed the game with regard to agent compensation. In addition to the traditional commission you have the ability to earn stock awards and purchase stock at a discount (publicly traded on the Nasdaq and thus the model has been heavily vetted for compliance). Given that eXp is in growth mode this has significant earning potential. Finally, you are rewarded for attracting other agents to the company. Because agents do not have to pay for franchise owners and regional owners on up the chain like a traditional brokerage a portion of the revenue earned can be passed on to the agents in your attraction upline. It is a redistribution of wealth from owners and brokers to YOU. Also, since eXp has just started to grow in many markets across the country the potential is also large when joining our Revenue Share Group and building one of your own. This can give you a potential exit strategy and, along with our collaboration group, a win for your business.
Tools and Technology
Being cloud-based eXp has plenty of online tools for you to use. The core is eXp enterprise, the one stop shop for business intelligence, transactions, revenue share, stock and marketing materials. They also have a core set of tools such as KVCore for CRM and lead generation (and CINC as well), Skyslope for transaction management, and Facebook workplace for news, training, and collaboration (not to mention eXp World itself, the best virtual workplace on the planet). The eXp partners program continues to add more technology and tools to the enterprise giving eXp more choices than anyone. eXp also is forming partnerships with other companies to provide tools that provide additional value in the areas of training, project management, time management, recruiting and more.
Revenue Sharing is Not New to the Real Estate Industry
Owners, brokers, and franchisees have been sharing in the revenue of their real estate companies for over 100 years. This is entrepreneurship. Owners put up all the money and take the risks to start and build a company. They deserve it, don’t you think?
There is a distinct difference between Keller William’s profit sharing program and eXp Realty’s revenue sharing program. Profit comes to agents after everything else has been paid. (Including the franchise owner’s, and regional owner’s, and corporate owner’s revenue). It comes monthly, when the local market center makes a profit, and it doesn’t come when the local market doesn’t make a profit. It also doesn’t come if the agent has not done a transaction that particular month. Suffice it to say, profit sharing comes off the bottom.
Revenue sharing comes off the top. Without getting too much into the weeds, each individual agent has a $16,000 cap with eXp (team members have 8k caps or 4k for mega-teams). Roughly half of that revenue coming into the company is used to actually run the company, and roughly half is given back to the agents in the form of revenue share and stock awards.
Is Revenue Sharing Sustainable?
We’ve been hearing some neigh-sayers lately – revenue sharing is not sustainable. Here’s the dirty secret…it’s been sustainable in the real estate industry for more than 100 years. The first brokerage business was opened circa 1908. Entrepreneurs have been owning brokerages since that time. Why would they do that if there was no revenue? Of course there is revenue for owners of companies.
There are billions of dollars funneling to the top of the traditional real estate company business model. Warren Buffet didn’t go buy a thousand houses during the recent real estate crash. Instead, he bought a bunch of real estate companies. He’s no fool. Ownership is where the money is.
The difference in the eXp Realty revenue sharing model is that the agents are the owners of the company, and as owners, they are sharing in the revenue. As long as eXp Realty is a real estate company and agents are helping buyers and sellers with their real estate transactions, there will be revenue.
eXp Realty is a real estate company, first and foremost. Without real estate agents conducting business, there would be no revenue to share. When any company has ebb and flow of revenue and expenses, they make adjustments.
eXp has done exactly that. From the beginning of the revenue-sharing (2013) in the company, the plan was to adjust the compensation plan when we reached a certain growth marker…16,000 agents. That happened in December 2018, along with the Sustainable Equity Plan and Equity Offset Program. The plan was to maximize growth for a period of time, and then to move towards sustainability.
eXp Stock and other Revenue Streams
eXp World Holdings, Inc. (NASDAQ: EXPI) is the holding company for a number of companies most notably eXp Realty. eXp World Holdings has several other verticals already, and more in the making. The main emphasis in the company’s choice in partners is CHOICE for the consumer. Through stock awards (not options) and the stock equity program (5% of your commission to purchase EXPI at a 10% discount) you can build quite a portfolio of stock. Further, if you qualify for ICON Agent you can get your entire eXp cap back in stock!
eXp World Holdings technology includes:
VirBELA – VirBELA offers a modern, cloud-based environment focused on education and team development with clients in various industries from government to retail. VirBELA developed eXp Realty’s current cloud campus, eXp World, which provides 24/7 access to collaborative tools, training and socialization for the company’s agents and staff.
SUCCESS Enterprises – eXp owns Success Enterprise which has Success magazine (125 years old) but now includes Success Coaching and Success Lending!
eXp Realty Affiliated Partners – eXp World Holdings is adding affiliated partners. Other partners include America’s Preferred Home Warranty, a platform that allows consumers to select their own service provider, 360 tours, Build A Sign, CE Shop, Currencies Direct and others. For a complete list see our eXp Solutions Page.
The future holds a lot of promise for more partners in the future. All of these partnerships and services will add to the company’s revenue in some form or another. It’s a bright future for eXp World Holdings!
If you are interested to learn more about eXp stock check out our Investor Relations Page.
eXp has its own lead generation platform called Revenos that includes RELO, REO, online leads and Express Offers, its own institutional buying (IBuyer) platform just for eXp agents. Agents can benefit from opportunities with REO and RELO companies and other corporate partners that they otherwise would not be able to get. For Express Offers agents can solicit offers on behalf of their clients from a set of buyers in their area whose buy box criteria meets that of the subject property. This platform has the advantage of giving your client cash offers on a closing date of their choosing in addition to selling traditionally. For the eXp agent you can also get the listing after the buyer flips the property (unless a buy and hold buyer).
Since all these programs charge a fee you also win as an eXp shareholder!
Yes eXp has Healthcare! Through Clearwater Benefits, eXp Realty provides Catastrophic, Preventative, and Day-to-Day coverage across different plans with PPO and HSA/Cost sharing options. In addition to the health insurance and medical cost sharing Clearwater Benefits also provides Telemedicine services and supplemental insurance such as Life, Accident/Critical Illness, Vision, and Dental. Check out the eXp Agent Healthcare site for more info.
Some key benefits include:
- $0 Deductible Plan
- In and Out of Network Copays
- Monthly is 50% less than the Marketplace and beats the Marketplace on quality