Wednesday, August 03, 2016 1:40:59 PM
Earlier today, eXp World Holdings, Inc. (OTCQB: EXPI) announced that eXp Realty, its real estate brokerage division, has surpassed 1,500 agents across all of its operating markets in the United States and Canada. This growth milestone continues to build on an impressive start to 2016 for the company, with overall agent count expanding by more than 57 percent since January 1, when EXPI reported 864 agents.
“eXp Realty continues to attract Increasing numbers of top agents who are entrepreneurial in their approach to the business and who recognize agent ownership as a fundamental shift in the way in which real estate professionals are valued as partners,” Glenn Sanford, founder and chief executive officer of EXPI, stated in today’s news release. “The Company is excited about its current growth trajectory and is continually looking to attract high quality professionals to the brokerage.”
eXp Realty’s growth is particularly compelling when studying the company’s recent history. Originally launched in October 2009, the Agent-Owned Cloud Brokerage™ introduced an aggressive revenue sharing program that offers agents a percentage of the gross commission income earned by professionals they recruit to the company. While this idea represented an innovative take on the traditional real estate brokerage business model, EXPI uncovered a formula for accelerated growth and retention in 2014. After listing as a public company in 2013, EXPI instituted an equity-sharing initiative with its agents and brokers that has helped it establish a sizable foothold in major real estate markets across North America.
In late June, the benefits of eXp Realty’s high-engagement, low overhead business model were on display when Sally and Stephen Koss, founders of Greater Boston’s Landmark Group, decided to join the eXp team after more than three decades within the RE/MAX (NYSE: RMAX) system. When interviewed about the change, Sally Koss pointed toward EXPI’s ownership opportunities as a real game changer in the real estate industry.
“With eXp we have access to ground-breaking real estate technology to better serve our agents and clients,” she stated in a news release. “Most importantly though, we are able to thank our agents by providing them with the very same opportunities that we have — ownership as fellow shareholders able to build organizations within and across markets. While there are other companies in the industry that are publicly held, the driving force behind eXp’s public company status is to give direct ownership to its agents and brokers.”
In recent weeks, EXPI has continued to build on its success in growing the eXp Realty brand. The company added brokerage operations in both Utah and New Jersey in mid-July, expanding its national network to include 43 states, in addition to the District of Columbia. EXPI also recently announced the additions of Rick Miller and Randall Miles as independent members of its board of directors, and industry veteran Russ Cofano was introduced as the company’s chief strategy officer and general counsel. All three of these individuals are expected to play key roles in EXPI’s continued development, both within the public financial markets and as a rapidly-growing organization.
For more information, visit the company’s website at http://investors.exprealty.com
Recent EXPI News
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/07/2024 08:17:05 PM
- eXp World Holdings Reports Q1 2024 Results • GlobeNewswire Inc. • 05/01/2024 08:15:00 PM
- Kendall Bonner Named Vice President of Industry Relations at eXp Realty • GlobeNewswire Inc. • 04/30/2024 04:00:00 PM
- eXp Realty Announces Strategic Leadership Changes to Enhance Global Growth • GlobeNewswire Inc. • 04/29/2024 07:00:00 PM
- Wendy Forsythe Joins eXp Realty as Chief Marketing Officer to Propel Agent-Centric Initiatives and Amplify Brand Reach • GlobeNewswire Inc. • 04/25/2024 01:00:00 PM
- eXp Realty Expands Global Network in Second Quarter, Welcoming Top Agents and Securing High Industry Honors • GlobeNewswire Inc. • 04/19/2024 04:00:00 PM
- eXp World Holdings to Announce First Quarter 2024 Results on May 1, 2024 • GlobeNewswire Inc. • 04/17/2024 07:00:00 PM
- Leading the Industry in Sides, eXp Realty Celebrates Its Agents' Remarkable Achievements With the Top Producers Lists for 2023 • GlobeNewswire Inc. • 04/16/2024 04:00:00 PM
- eXp Realty Names Leo Pareja as CEO to Drive Next Era of Growth and Innovation • GlobeNewswire Inc. • 04/05/2024 01:00:00 PM
- eXp Realty Expands Executive Team With Key Human Resources and Technology Leadership Appointments • GlobeNewswire Inc. • 03/28/2024 03:30:00 PM
- eXp Realty Leads the Pack in the RealTrends 500, Capturing Top Honors in Five Categories • GlobeNewswire Inc. • 03/22/2024 02:00:00 PM
- eXp Realty Pays More Than $230 Million in Revenue Share and Equity Benefits to Agents and Brokers in 2023 • GlobeNewswire Inc. • 03/11/2024 07:56:01 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 03/08/2024 11:35:03 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/04/2024 11:40:57 PM
- Form 144/A - Report of proposed sale of securities: [Amend] • Edgar (US Regulatory) • 03/01/2024 10:05:00 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 03/01/2024 07:46:43 PM
- eXp World Holdings Revolutionizes Real Estate Radio With "KGCI Real Estate on Air" Partnership • GlobeNewswire Inc. • 02/29/2024 02:00:00 PM
- eXp World Holdings Reports Q4 and Full-Year 2023 Results • GlobeNewswire Inc. • 02/22/2024 09:15:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 02/22/2024 08:58:55 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/02/2024 09:27:17 PM
- eXp World Holdings to Announce Full-Year and Fourth Quarter 2023 Results on February 22, 2024 • GlobeNewswire Inc. • 02/02/2024 05:00:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 02/01/2024 02:00:12 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 01/23/2024 05:30:26 PM
- eXp Luxury Solidifies Expansion Into New International Markets • GlobeNewswire Inc. • 01/18/2024 02:00:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 01/17/2024 07:58:08 PM
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