If my co-lead hits Elite before me, do we receive the benefits of the lower Elite Agent transaction fee?

Yes. As soon as a member of your team hits Elite Agent Status, all capped members of the team will benefit from the lower Elite Agent transaction fee. This includes the co-lead.

Example:

• Annalisa, Shane, Brittany, and Beth are all on a team. 
• Annalisa and Shane are co-leads.
• Annalisa hit Elite Agent.
• Beth has capped. 
• Shane has capped.
• Brittany has not capped. 

When Shane, Annalisa, and Beth close a deal, what happens? Assume they split a $3,000 commission 3 ways. 

• Annalisa is Elite. She will pay 1/4 of the Elite Agent Fee. As a US agent, that's $32.25 on this deal ($129/4). 
• Shane is a co-lead and has capped, but has not reached Elite. However, he will benefit from Annalisa's Elite Agent Fee. As a US agent that's $32.25 on this deal ($129/4).
• Beth capped and benefits from Annalisa's Elite Agent Fee. As a US agent that's $32.25 on this deal ($129/4).
• Since Brittany has not capped, She will pay the 15% split to Real - $150 ($1,000 * 15%).