eXp UK is hoping to expand its presence across the country by signing up more self-employed agents to business model, after pledging to reward top-selling agents with stock awards worth up to £16,000.

The company has launched a new ICON award, an initiative that recognises agents who ‘cap’ and then deliver a further 40 transactions, or those agents who achieve a gross commission income of at least £400,000 involving a minimum of 10 transactions, within a 12-month period.

The awards package includes £16,000 of gifted shares to the agent, at eXp World Holdings – £8,000 is first awarded in stock and vests for three years, with the other £8,000 being awarded upon the successful agent taking part in various cultural events, including training others in the art of becoming an ICON agent, and attending in-person events.

eXp’s international expansion leader for the UK, Adam Day, said: “Since launching just over two-and-a-half years ago, eXp has attracted talented agents who consistently deliver incredible value for clients. This new award will incentivise their hard work while encouraging an environment where all agents are driven to excel even further.

“We already award shares to agents in the big business simply for selling property, which is unique in itself, but now with the opportunity to own a further £16,000 worth of shares, along with the glory of becoming an ICON agent, is something that’s not been done before in the UK.”

eXp UK allows agents to trade with their own ‘name above the door’, but charges agents up to 30% of the commission they generate.