How Teams are Defined at REAL

STANDARD TEAM

You are a standard team if you have a signed team agreement on file with Real with 25% going to the team lead and 15% going to Real.

There is a minimum production requirement of $5M in last-twelve-months closed volume. In addition, both the team leader and team members must have signed team agreements on file with Real with the commission breakouts for each team member clearly defined.

Each team member can be on a $6,000 cap. Team members are not eligible for Elite status if they are on a 1⁄2 cap.

DOMESTIC TEAM

A domestic team is a domestic couple or related family members sharing a cap. You will share a single rev share and equity position, one

Skyslope account and one Chime account if you choose to opt in. The max number of people who can be a domestic team is 2 people.

MARKETING GROUP

(A.K.A. GROUP)

A marketing group is a group of one or more agents who are working together under the same marketing name, but everyone is on a full $12,000 cap. The group may be sharing a marketing name, they may refer transactions to each other within the group, but they have no formal team agreement, they are not subject to the minimum production. Everyone has their own rev share position.

When reaching out to support or speaking with accounting it is important to reference the correct terminology so we know how to best assist you. If you are operating as a team, but we do not have a team agreement on file signed by you AND the team members, please reach out to advrealestateagents@gmail.com so we can send the team agreement to you and help get this resolved.

Elite Agent Description & Awards

Elite Description:

Agents who achieve exceptional sales volume and embody the core cultural values of Real are offered the opportunity to earn Elite Agent status. ONE of the following production benchmarks need to be met:

  • Pay the full annual cap AND generate $6,000 in post cap transaction fees OR

  • Generate a minimum GCI of $500,000 and 10 completed transactions with all sales prices $1M or above.

Once an agent reaches Elite status and has paid $6,000 in post cap transaction fees, their transaction fee decreases to $100 per transaction (from $225).

Upon achievement of the production benchmark within an agent’s anniversary year, the Elite Agent will be awarded $16,000 in stock which vests over 3 years annually based on RSU award date.

Additional $8k in stock is awarded upon completion of cultural contributions back to the entire agent population through Real Academy. This award vests over a 3 year annual period based on RSU award dates.

Elite status is earned by individuals or by team leads when they achieve the benchmarks described above. The Elite Agent program is reviewed annually and is subject to change in the future.

FAQ’S

  • Can we be a team with a single cap even though we are not related? It’s my business partner & I.

    No, you must be of the same household.

  • What are the fees when the Team Lead hits Elite and the Team Member has hit their 1⁄2 cap?

    Elite Team Lead pays $100 proportionally, Team member pays $225 proportionally (ie - transaction is split 50/50 between Team Lead & Team Member on a transaction. The Team Lead pays $50 and the Team Member pays $112.50).

  • We are a Domestic Team. We have one cap. What are our transaction fees after we achieve Elite?

    The fees will drop to $100.

  • Do the fees ever go to $0?

    No.

  • How many 1099 forms will our team receive at the end of the year?

    You will receive one 1099 form at the end of the year.