Teams & Rewards
Repdai Community & Rewards
Repdai community is a group of people who participate in the Repdai Reward Program. Repdai Realty Inc, as a licensed brokerage firm and a subsidiary of Repdai Inc, operates this reward program for the community. Using the Repdai Real Estate E-commerce Platform, the members of the community will receive the rewards in the following activities:
- Referring a friend to join the community to buy or sell properties;
- Joining Repdai Realty Inc as a licensed agent to buy or sell properties for clients;
- Referring a fellow licensed agent to join the Repdai Realty Inc.;
Joining the Community
It is free for everyone to join the community as a regular platform user. When joining Repdai Realty Inc as a licensed agent to make revenues from real estate commissions, there is a setup fee and a monthly service fee. Both regular users and agents are the members of the community. They will equally receive the profit sharing from the program in the same way. An agent member will receive the real estate transaction the commission and also the reward. A none-agent member will receive the reward only.
Reward Plan
When the lead revenue is generated by a buyer, or the commission is generated by an agent, the buyer or the agent, called as a revenue affiliate (noted as Affiliate), keeps 90% of the revenue and the rest of 10% is used as the reward to be shared to the community. For example, Affiliate generates $10,000 revenue, Affiliate takes $9,000 and the Reward Plan takes $1,000 and fully contributes it to the community, which continues until $10,000 has been contributed to the community over the course of a calendar year. If this $10,000 cap is reached, from that point on Affiliate keeps 100% of revenue (either from lead generation or commission) for the rest of the year. At this point, Affiliate becomes a Community Contributor (CC), which is entitled to Repdai Inc. stock option rewards.
Qualified User Mandatory Requirements
Qualified User - 3 mandatory conditions:
- Must have at least 3 team members.
- Must have at least 1 transaction in the past 6 months.
- Among direct team members, there are at least 3 team members who meet the above 1 and 2.
Community Contributor (CC) Stock Option Reward
Community Contributors will be rewarded the equivalent value of Repdai Inc. stock option based on the book value of the company.
$10,000 Stock Options vest in three portions:
- $6000 vest in two years, reward on the same day of the monthly CC winners announcement.
- $2000 vest right after finishing the mentor-mentee program to build the team in the next 12 months.
- $2000 vest right after attending two major company events, $1000 for each event respectively.
Reward Distribution To Community
The sharing percentage is different based on the qualified or non-qualified users.
Qualified User Mandatory Requirements
Qualified User - 3 mandatory conditions:
- Must have at least 3 team members.
- Must have at least 1 transaction in the past 6 months.
- Among direct team members, there are at least 3 team members who meet the above 1 and 2.
Repdai Realty Inc pays residual commissions via a unilevel compensation structure. A unilevel compensation structure places an affiliate at the top of a unilevel team, with each personally recruited Affiliate placed directly under them as demonstrated with the following diagram.
Community Team Structure
If any affiliate on level 1 recruits new affiliates, these new affiliates are placed on level 2 of this original affiliate’s unilevel team. If any affiliate on level2 recruits new affiliates, the new affiliates are placed on level 3, so forth and so on building a theoretical infinite number of levels.
Training
Legal to reward buyer or seller in NYS
Yes, commission rebates are unambiguously legal in New York State. In April 2015, Section 442 of New York’s Real Property Law was amended to carve out commission rebates from the provision which otherwise prohibits splitting commissions with an unlicensed broker. More