Wednesday, August 31, 2016 5:37:06 PM
Things are looking good for eXp World Holdings, Inc. (OTCQB: EXPI). Spearheaded by its unique real estate brokerage division, eXp Realty, the company has been reporting steady growth over the past few months and is showing no signs of slowing down. August in particular seems to have been an exceptional month for the company, as it reported record revenue in the first two quarters and an impressive increase in its brokerage agent base, surpassing the 1,500 agent milestone for the first time.
The growth didn’t stop there; eXp Realty management recently announced that its Agent-Owned Cloud Brokerage™ welcomed 160 new members in August, bringing its total number of agents to over 1,630, eXp Realty director of Cloud Leadership & Growth David Gagnon said during an online leadership meeting of the brokerage on August 26.
Along with its agent base increase, the brokerage has been steadily expanding its coverage and now serves a total of 41 states, the District of Columbia and Alberta, Canada. The newest addition to its network of real estate professionals is Alaska, where operations began on August 19.
eXp World Holdings’ steady growth and record revenue of more than $13 million in the second quarter of 2016 have also prompted the Fundamental Research Corp. to update its analysis of the company. The independent research group that specializes in the microcap and small-cap sectors highlighted eXp World Holdings’ strong financial performance and growth and now anticipates a higher overall revenue for both 2016 and 2017. Compared to its April report, the group upped its forecast for 2016 to $48 million from $40 million and for 2017, for $82 million from $72 million.
The company largely owes its success and record figures to the innovative model of real estate brokerage proposed by eXp Realty. Unlike most competitors that still concentrate their activity around a brick and mortar office, eXp Realty describes itself as a brokerage that heavily relies on cloud technologies and the Internet to build an online community of real estate professionals.
Members work in a cloud office environment which allows them round-the-clock access to training features, collaborative tools and socialization methods to help them share their knowledge and experience and build an efficient strategy together. Even leadership meetings are held online in a virtual reality space where each attending management member has an avatar.
The platform allows agents and brokers to provide more efficient services to consumers and increase their profits with a lower risk. Members also benefit from revenue sharing programs and the opportunity of earning equity in exchange for valued contributions to company growth.
For more information about eXp World Holdings and its brokerage division, visit www.eXpWorldHoldings.com.
Recent EXPI News
- 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
- Form SC 13D/A - General statement of acquisition of beneficial ownership: [Amend] • Edgar (US Regulatory) • 01/12/2024 02:00:36 PM
- Form 4/A - Statement of changes in beneficial ownership of securities: [Amend] • Edgar (US Regulatory) • 01/10/2024 03:34:37 PM
- eXp Realty Named to Glassdoor’s Best Places to Work for Seventh Consecutive Year • GlobeNewswire Inc. • 01/10/2024 03:30:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 01/03/2024 02:59:54 PM
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- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 01/02/2024 09:24:33 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 01/02/2024 05:15:55 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 12/15/2023 09:00:11 PM
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