As the industry awaits HomeSmart’s IPO, the company has announced an equity-share program available to agents participating in its Agent Referral Program.
Under the 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 pre-determined transaction milestones their referrals complete.
Participating HomeSmart agents can earn performance awards totaling $1,850 per flat-fee agent and up to $8,350 per “HomeSmart+” agent referral, according to information provided by the company. There are no minimum transactions, extra fees or caps on individual earning potential.
HomeSmart+ agents are a part of a revenue-sharing program that provides a way for agents to earn additional income beyond their own transactions, and an opportunity to earn money into their retirement.
“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.”
Ashley Bowers, HomeSmart president, explained that the program is designed to reward the agents who help HomeSmart grow, and that agents can now become shareholders of the company regardless of their commission structure.
Bowers told RISMedia, “Launching the equity program demonstrates our commitment to our agents. We’ve created a culture where we win together as a team—a team comprised of staff members, franchisees and agents. We’ve worked hard to earn the trust and respect of our agent community and that work has yielded a tremendous amount of referrals over the years. We’re now in a position to reward franchisees and agents with stock compensation as a way to share in the future of HomeSmart.”
She continued, “Belonging to something bigger than ourselves is something most strive for, and having an ownership interest to solidify that belonging is key. We believe the agent will remain at the center of the real estate transaction, and we want HomeSmart to be the place agents call home.”
Bowers said HomeSmart did an initial release of the program at its most recent 2022 Growth Summit in Las Vegas.
“We’ve had an overwhelmingly positive response so far, and the interest continues to build each day,” she said. “All of us at HomeSmart are proud to offer every agent the opportunity to become a shareholder in the company. Now, all of our agents have the chance to participate in HomeSmart’s success and be rewarded.”
Back on January 7, HomeSmart publicly filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission (SEC), indicating the company’s intention to sell its shares to prospective investors and the public. At that time, the number of shares to be offered, and the price range for the offering had not yet been determined, and the company said it could not comment further regarding IPO questions at this time.
Currently, HomeSmart has approximately 24,000 agents in 47 states.
For more information on HomeSmart International and its franchise opportunities, visit https://www.homesmart.com.
