HomeSmart allocates up to $10 million to share equity with agents
HomeSmart Holdings announced it will provide equity to HomeSmart agents participating in its Agent Referral Program.
Under this new equity program, HomeSmart agents will be granted restricted stock units (performance awards) for every licensed real estate agent they refer to the brand, so long as the new referral remains with HomeSmart for 90 days. Referring agents will also receive performance awards for certain predetermined transaction milestones their referrals complete.
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Participating HomeSmart agents can earn up to $8,350 in performance awards for each agent referral. There are no minimum transactions, extra fees or caps on individual earning potential.
“As an agent-centric brokerage founded on the principle of putting agents first, we are thrilled to provide them stock in the company they work hard for,” said Matt Widdows, HomeSmart Founder and CEO. “By offering equity, both the agents and HomeSmart have shared interest in the success and growth of the company.”
The program is designed to reward the agents who help HomeSmart grow. Agents can now become shareholders of the company regardless of their commission structure.
“All of us at HomeSmart are proud to offer every agent the opportunity to become a shareholder in the company,” added Ashley Bowers, HomeSmart President. “Now all of our agents have the chance to participate in HomeSmart’s success and be rewarded.”