Wednesday, September 28, 2016 1:06:07 PM
At the beginning of 2016, 43% of real estate agencies expected competition from non-traditional firms. Although this number was down 2% from 2015, a survey by the National Association of Realtors (NAR) (http://dtn.fm/Fx2Sb) found that 46% of agencies believe the competition from virtual firms is increasing, compared to a small 17% of agencies expecting competition from brick and mortar firms.
With this in mind, it is worth noting that the real estate industry is one of the slowest to adapt to this new digital age. The last few years can be seen as the first real phase of digital development within the real estate industry, as technology has played but a minimal role until now. Thanks to today’s growing technology, people in the real estate industry are able to make faster and more informed decisions.
Until now, the industry has believed in location. However, today people can access and accomplish more through the use of smartphones, computers, and other mobile devices. With technology companies such as Airbnb, people are becoming more accustomed to a sharing economy. According to an article by Wharton University of Pennsylvania (http://dtn.fm/M0Vl6), 86% of Americans believe the sharing economy they are now part of makes life more affordable, 83% say things are more convenient and efficient, and 63% believe it is more fun than engaging with traditional companies.
But why does the technology industry want to play a role in the real estate sector? The answer is simple. Real estate is one of the largest single assets in the United States. The sector is now worth approximately $50 trillion, with residential housing making up approximately $26 trillion of this. As a result, real estate companies are having to embrace the digital world quickly at the risk of letting technology-savvy companies take over.
To do this, real estate firms are having to implement cloud-based Big Data technologies to better serve their customers. eXp World Holdings, Inc. (OTCQB: EXPI) is a prime example. eXp Realty, the company’s real estate division, is a fully agent-owned cloud brokerage. The agents and brokers at EXPI work, train, strategize, collaborate, innovate, and build teams across North America from the comforts of home using the company’s cloud office environment.
EXPI believes that, with the advancements in technology today, real estate consumers are equipped with deeper knowledge and understanding than ever before. Many consumers today leverage the company’s cloud-based technology to buy and sell without the aid of brick and mortar offices. EXPI’s primary goal is to become “the first truly agent-owned, cloud-based, full service, global real estate brokerage company delivering around-the-clock access to collaborative tools and professional development for managing real estate brokers and agents.”
For more information, visit the company’s website at www.eXpWorldHoldings.com
Recent EXPI News
- 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
- Form SC 13D/A - General statement of acquisition of beneficial ownership: [Amend] • Edgar (US Regulatory) • 01/12/2024 02:00:36 PM
NanoViricides Reports that the Phase I NV-387 Clinical Trial is Completed Successfully and Data Lock is Expected Soon • NNVC • May 2, 2024 10:07 AM
ILUS Files Form 10-K and Provides Shareholder Update • ILUS • May 2, 2024 8:52 AM
Avant Technologies Names New CEO Following Acquisition of Healthcare Technology and Data Integration Firm • AVAI • May 2, 2024 8:00 AM
Bantec Engaged in a Letter of Intent to Acquire a Small New Jersey Based Manufacturing Company • BANT • May 1, 2024 10:00 AM
Cannabix Technologies to Deliver Breath Logix Alcohol Screening Device to Australia • BLO • Apr 30, 2024 8:53 AM
Hydromer, Inc. Reports Preliminary Unaudited Financial Results for First Quarter 2024 • HYDI • Apr 29, 2024 9:10 AM