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I know. Enjoy the esoterica and load up while it last.
How did EXPI get passed over on ihub? EXPI hasn’t failed to impress.
I could see a pull back but seems as if shareholders are holding out many agents holding???
this thing is a rocket ship, approaching 600m market cap. 6500 agents vs RMAX W 100K agents and 1.45b market cap. I see the dream just wondering if it went up too fast. thoughts
EXP named one of the best places to work by Glassdoor's 2018 employee poll
https://finance.yahoo.com/news/exp-realty-named-best-place-050000581.html
At this point this company is beginning to excite many visionary realtors who are changing the old brick and mortar expensive ways of doing business for them to what is the obvious future of real estate. Most average people in this industry have not even heard of this company yet. But people in retail had never heard of Amazon.com early in it’s development either. The investment community will soon get wind of what is happening here and at that point institutional investors as well as mom and pop investors will want a piece of the future of real estate.
“Get’um while they are cheap “
EXP World Holdings Inc. continues to impress.
I have been a shareholder for a long while with eXp and the Company has always achieved the Company projections both in terms of sales / profit and realtor growth.
With this level of consistency a shareholder can own stock and sleep well at night.
Good Action today. People are starting to hear about EXP! Still feel that we see $15 in the next six months
300 to 400 agents added monthly
I am in Real Estate and a lot of Top agents are moving to EXP. I personally have not, but considering it. I have a feeling they are going to blow away 2nd quarter numbers. Over 5000+ agents, and summer being the buying season this is going nowhere but up. How there are not more followers or talk about this stock is beyond me. $15 to $20 price target in the next year or so. IMHO
This will be a $25 stock in1 year - $50 in two years. Book it. JMHO ! GLTA !
https://seekingalpha.com/article/4111374-exp-world-holdings-re-max-keller-williams-running-scared
This article fails to mention NO DEBT. So parabolic growth, no debt, and employee profit sharing.....Mr Market will catch on soon
No Debt and Rev up 198%
https://www.otcmarkets.com/financialReportViewer?symbol=EXPI&id=178021
EXPI Strengthens Agent Ownership Model through Plans to Add Two Agents to Board of Directors
eXp World Holdings, Inc. (OTCQB: EXPI), holding company for the Agent-Owned Cloud Brokerage®, announced at its annual shareholder event in San Diego that two eXp Realty agents will join the company’s board of directors, furthering the company’s objective of building the most agent-centric real estate brokerage company in the industry. The new board members will be selected through an inclusive nominating process tied to the launch of the new, 12-member eXp Agent Advisory Council, with directors Jason Gesing and Gene Frederick volunteering to transition off the board over the next year to make room for these new appointments. “Agent ownership is one of the primary reasons why eXp is growing so rapidly,” Glenn Sanford, founder, CEO and chairman of EXPI, noted in a news release. “Agent ownership should come with leadership and it’s a huge win that we will now be able to have the “Voice of the Agent” on our Board, engaging with our senior leadership, and providing valuable feedback and insight at the highest level in the organization.”
To view the full press release, visit http://nnw.fm/4ttR9
About eXp World Holdings, Inc.
eXp World Holdings, Inc. (OTCQB: EXPI) is the holding company for eXp Realty LLC, the Agent-Owned Cloud Brokerage®. As a full-service real estate brokerage, eXp Realty provides 24/7 access to collaborative tools, training, and socialization for real estate brokers and agents through its 3-D, fully-immersive, cloud office environment. eXp Realty, LLC and eXp Realty of Canada, Inc. also feature an attractive revenue sharing program that pays agents a percentage of gross commission income earned by fellow real estate professionals who they attract into the Company. For more information, please visit the Company’s Twitter, LinkedIn, Facebook, YouTube, or visit www.eXpRealty.com.
EXPI Expands eXp Realty Management Team
eXp World Holdings, Inc. (OTCQB: EXPI), holding company for the Agent-Owned Cloud Brokerage®, today announced the addition of four industry veterans to the management team of eXp Realty. The newly-appointed additions include Kee Wah Chung as Vice President of Agent Experience; Kathy Gordon as Vice President, Brokerage Operations; Scott Petronis as Chief Product and Technology Officer; and Mitch Robinson as Senior Vice President, Marketing and Communications. “Our daily objective is to be the most agent-centric brokerage firm in the world,” Russ Cofano, president and general counsel of eXp World Holdings, stated in the news release. “Adding Kee Wah, Kathy, Scott and Mitch to our stellar team will allow us to provide new and exciting services for both current and future agents on the eXp platform. Our ability to attract top talent is further enabled by our accelerating growth, as evidenced by our year-over-year agent growth of over 200 percent when we surpassed the 3,000 agent mark in mid-March.”
To view the full press release, visit http://nnw.fm/hvrH1
About eXp World Holdings, Inc.
eXp World Holdings, Inc. (OTCQB: EXPI) is the holding company for eXp Realty LLC, the Agent-Owned Cloud Brokerage®. As a full-service real estate brokerage, eXp Realty provides 24/7 access to collaborative tools, training, and socialization for real estate brokers and agents through its 3-D, fully-immersive, cloud office environment. eXp Realty, LLC and eXp Realty of Canada, Inc. also feature an attractive revenue sharing program that pays agents a percentage of gross commission income earned by fellow real estate professionals who they attract into the Company. For more information, please visit the Company’s Twitter, LinkedIn, Facebook, YouTube, or visit www.eXpRealty.com.
EXPI Attracts High-Volume Agents, Retains Them With Technology, Stock Ownership Equity and Three-Year Vesting
eXp World Holdings, Inc. (OTCQB: EXPI), through its eXp Realty subsidiary, is not just adding new real estate agents; it is attracting high-volume agent/brokers including two from The Wall Street Journal’s Top 50 List, according to Glenn Sanford, chairman, CEO and founder of the company. Presenting at the MicroCap Conference in New York earlier this month, Sanford said that a number of large real estate markets remain open to the agent-owned and cloud-based online real estate agency — such as New York and Connecticut. The company can grow more than geographically, because it projects possible areas of expansion such as mortgage origination, title and escrow services, and homeowners insurance, he said.
eXp World Holdings is the holding company for eXp Realty LLC and eXp Realty of Canada, Inc. It is an agent-owned, cloud-based brokerage that is unique in that it offers its agents a chance to earn company stock through performance, as well as to receive a percentage of gross commissions earned by other agents that they bring into EXPI. It has surpassed 3,000 agents and projects having 5,500-6,500 agents by the end of this year. The company’s features are designed to not only attract agents but also retain them. Three-year 100% equity vesting is an important retention tool, Sanford said.
The company maintains a non-traditional model of low costs due to its cloud-based campus versus brick-and-mortar offices. In addition to agent incentives in the form of company stock for performance plus shared commission payments, the company also offers special online educational classes as part of its immersive cloud-based platform campus. The combination of lower costs, high technology, stock incentives, and a percentage of recruited agent commissions, is highly desirous for agents, Sanford told investors.
The largest state EXPI currently serves in the U.S. is Texas — with some 800 eXp agents. However, in the tri-state market of New York, Connecticut, and New Jersey, the company still has much room to grow. That market remains a large opportunity for the company, and the high-dollar residential real estate markets of Connecticut, Manhattan, and Brooklyn are still largely open.
The firm sees a further doubling of its agent count by the end of this year, to between 5,500 and 6,500, Sanford said. EXPI is attracting younger and, in some cases, higher volume agents. He added that its three-year vesting program appeals to agents and has also proven important in retaining them. Few would want to leave the company before fully vesting and losing that equity, he noted.
For more information, visit the company’s website at www.eXpWorldHoldings.com
EXPI Using the Internet to Complement Real Estate Agents, Not Replace Them
Most businesses across numerous industries would agree that the internet has disrupted them in one way or another, either positively or negatively. Some believe the internet has led to technological advancements never seen before that have enabled them to cut costs, keep their information safe, and make certain day-to-day tasks easier. Others have seen the internet lead to an increase in unemployment, more space for security breaches, and a lack of human touch when it comes to interactions with consumers.
But how has the proliferation of the internet disrupted those in the real estate industry? Recent studies (http://nnw.fm/cv7V0) show that real estate agents in the U.S. are still receiving their usual 5% to 6% commission on home sales, and, despite the internet having had a negative impact on many of the middlemen from various industries, the commission that real estate agents receive has increased since the early 2000s. Although many assumed real estate agents would struggle because of the internet, the number of agents has actually grown by more than 50% in the past 20 years.
What many have not realized is that the internet has affected the industry as a whole, but has not affected the ever-growing need for agents. The internet has changed the way agents work and interact with their clients for the better, because, although consumers are doing more of the home buying research online, they still have a big decision to make, and therefore turn to agents and brokers for help. More has also been done by real estate companies in terms of advertising to keep the focus on their agents, for example, Century 21’s “Good Luck, Robots” TV commercial (http://nnw.fm/ajJD9).
eXp World Holdings, Inc. (OTCQB: EXPI) is showing the importance of real estate agents and brokers through a different approach, by embracing technology and using it to leverage the ability of agents. The rapidly growing company (its agent roster is expected to double in this year alone) has been referred to as the “Amazon” of real estate. It’s an agent-owned brokerage that has cut out the need for brick and mortar facilities with the use of the cloud, but without cutting out the much-needed agents that run it. Instead of using the internet to replace its brokers and agents, EXPI is using it as a tool to maximize agent-ownership, and agents love it.
EXPI is the first company to ever use 3D, fully immersive cloud-based tools and techniques that allow agents to meet colleagues, share advice, learn through virtual classes, and build strategies to further grow their businesses. EXPI has created this business model not to cut out the middleman, but to show Americans that relying less on traditional offices and adopting technological advancements offer significant benefits to both business growth and customer satisfaction.
For more information, visit the company’s website at www.eXpWorldHoldings.com
EXPI Projects Agent/Broker Count Will Rise To 5,500-6,500 By Year End 2017
In its recent presentation at the MicroCap Conference in New York, eXp World Holdings, Inc. (OTCQB: EXPI) projected that its count of agents/brokers would be in the range of 5,500-6,500 by the end of this year, according to Glenn Sanford, CEO and company founder. eXp World Holdings is the holding company for eXp Realty LLC and eXp Realty of Canada, Inc. Through these subsidiaries, EXPI operates as a unique 24/7 cloud-based brokerage company that enables agents to earn company stock through production and offers them a percentage of gross commissions earned by other agents they attract into the company. eXp World Holdings finished its year ended December 31, 2016, with 2,401 agents/brokers, and, by March 15, 2017, that number had grown to more than 3,000. The company operates in 43 U.S. states, the District of Columbia, and Alberta, Canada.
Sanford said that EXPI’s count of agents/brokers is mushrooming due to several factors. The firm offers stock incentives to agents/brokers and a share of commissions earned by new agents they attract to the company. It also offers low costs versus traditional brick-and-mortar models and immersive 3D cloud campuses for more effective and available training and communication. It represents a significant change from the traditional real estate office model, he told conference attendees, indicating that a high-tech “perfect storm” helped inspire the inception of this different approach to the realty brokerage based on a cloud platform.
Traditionally, the broker/owner or manager of a real estate office is responsible for the growth of agent count, he explained. In EXPI’s model, all agents are actively involved in recruiting others to join. Attractive features to new agents include lower costs, high technology training, stock options, and a cloud-based campus. Two of the Wall Street Journal’s Top 50 real estate agents have now joined the company, he said.
Sanford told conference attendees that the firm’s agents tend to be younger, closer to 40 years of age, as opposed to the typical agent of about 54. He said its three-year vesting program is attractive to new agents, as are the prospects of earning options on company stock and receiving a percentage of commissions earned by company agents they recruit. The three-year vesting is an important tool to retain agents, he said. It serves as an incentive to stay. He also noted that the average commission earned on a sale is a healthy $9,000.
He added that there remains plenty of room for growth for the company, saying that its largest market is currently Texas, where it has more than 800 agents — almost one third of the company. By comparison, in the New York/Connecticut market, he said, the firm has little presence today and only a handful of agents.
For future growth as the company expands, Sanford noted that EXPI is investing in eight or nine developers who are working on a new back-end platform for the company. Sanford said that, because it is cloud-based, the company can quickly grow into any market without the traditional costs of brick-and-mortar.
For more information, visit the company’s website at www.eXpWorldHoldings.com
EXPI Reports 137% Revenue Growth for Full Year 2016
eXp World Holdings, Inc. (OTCQB: EXPI), holding company for the Agent-Owned Cloud Brokerage®, this morning reported its financial results for the fourth quarter and full year ended December 31, 2016. Among the highlights, the company recorded a 137 percent year-over-year increase in revenues for the 12-month period, as well as a 397 percent increase in adjusted EBITDA to $1.6 million. EXPI found similar success in promoting the growth of eXp Realty, achieving a 178 percent increase in the number of agent and brokers on the platform during 2016. On March 15, 2017, eXp Realty’s total number of agents and brokers surpassed 3,000. “2016 established us as one of the largest and fastest growing brokerages in North America as we nearly tripled in size over the past year,” Glenn Sanford, founder, CEO and chairman of EXPI, stated in the news release. “Our strong revenue and adjusted EBITDA growth in 2016 showcases the leverage in our model, which we expect to continue to be evident as we execute on our overall strategy.”
To view the full press release, visit http://nnw.fm/74dKa
About eXp World Holdings, Inc.
eXp World Holdings, Inc. (OTCQB: EXPI) is the holding company for eXp Realty LLC, the Agent-Owned Cloud Brokerage®. As a full-service real estate brokerage, eXp Realty provides 24/7 access to collaborative tools, training, and socialization for real estate brokers and agents through its 3-D, fully-immersive, cloud office environment. eXp Realty, LLC and eXp Realty of Canada, Inc. also feature an attractive revenue sharing program that pays agents a percentage of gross commission income earned by fellow real estate professionals who they attract into the Company. For more information, please visit the Company’s Twitter, LinkedIn, Facebook, YouTube, or visit www.eXpRealty.com.
EXPI Keeps Salespeople Satisfied and Selling
The sales profession is known for sales cycle stress, pressures to meet quotas and the debilitating psychological impact of constant rejection. Combined, these factors are known contributors to the sales industry’s exceptionally high turnover rates and lost productivity. The satisfaction level of salespeople may not seem to correlate directly with business objectives, but it substantially impacts an organization’s bottom line. Happy sales people are consistently more resourceful and productive. Sales can obviously be a tough job, with the daily grind of prospecting and repeated rejection. Even top producers can be pulled down by deals that linger but never seem to go through.
Research has proven that happiness is contagious, especially in sales. When salespeople truly enjoys their environment and what they’re doing, it leads to a more natural selling proposition and, ultimately, more success. They convert more leads and are generally more successful, because prospects are engaged and gravitate toward them. Happy salespeople are less stressed, undeterred by rejection, and consistently more productive.
More money can help enhance a sales person’s happiness, but more money alone does not directly equate to more happiness. More money helps, but well-researched psychological principles show that top salespeople want more. These principles show that sales producers are motivated by new challenges and responsibilities. They also want to continue to learn and hone their skills, an essential element of what makes them successful. More than most people, top sales performers need appreciation and recognition for their achievements, and they produce more in an environment that promotes relationships and provides meaning.
Few industries are more sales driven than residential real estate. Success is contingent upon attracting and keeping productive sales agents. Adding agents, reducing turn over, and increasing sales productivity makes or breaks agencies. eXp World Holdings, Inc. (OTCQB: EXPI) is changing the paradigm of real estate sales by using an advanced-technology online system to provide the tools, motivation, and support needed to attract and keep agents. eXp World Holdings is the publicly-traded holding company of eXp Realty, an agent-owned cloud-based residential brokerage. The company nearly tripled its agent count last year, with over 1,500 new real estate professionals joining eXp Realty in 2016. The dramatic increase in agents and revenues reflects the environment built by the company’s unique business model. eXp Realty believes the greatest asset of any real estate brokerage is the team of agents and brokers who create the revenues of the company.
By eliminating the high cost of brick and mortar locations, the company offers among the highest payouts in the industry. Agents and brokers receive exceptional support and continued education through eXp Realty’s innovative 24/7 cloud-based system of collaborative tools and training. Its 3-D, fully-immersive, cloud office environment also promotes agent socialization, relationship enhancement, and agent recognition. Proof of eXp’s pioneering approach is borne out not only by the striking increase in agents last year, but also by the myriad of positive online reviews posted by agents.
By surreptitiously abetting sales agent happiness with tangible and intangible support systems, eXp is poised to not only continue adding legions of agents, but also to dramatically exceed revenue expectations.
For more information, visit the company’s website at www.eXpWorldHoldings.com
EXPI Scheduled to Present at The MicroCap Conference on April 4
eXp World Holdings, Inc. (OTCQB: EXPI), holding company for the Agent-Owned Cloud Brokerage®, this morning announced that its management team will be attending The MicroCap Conference in New York on Tuesday, April 4, 2017. The company is scheduled to present at 9:30 a.m. ET at the JW Marriott Essex House New York, which is located adjacent to Central Park in Manhattan. The EXPI team will also host one-on-one meetings with prospective investors throughout the day. A webcast of the company’s presentation will be made available at http://wsw.com/webcast/microcapconf3/expi for those who are unable to attend the event. For more information about the upcoming MicroCap Conference, visit www.MicroCapConf.com.
To view the full press release, visit http://nnw.fm/pvz3F
About eXp World Holdings, Inc.
eXp World Holdings, Inc. (OTCQB: EXPI) is the holding company for eXp Realty LLC, the Agent-Owned Cloud Brokerage® as a full-service real estate brokerage providing 24/7 access to collaborative tools, training, and socialization for real estate brokers and agents through its 3-D, fully-immersive, cloud office environment. eXp Realty, LLC and eXp Realty of Canada, Inc. also feature an attractive revenue sharing program that pays agents a percentage of gross commission income earned by fellow real estate professionals who they attract into the Company. As a publicly-traded company, eXp World Holdings, Inc. uniquely offers real estate professionals within its ranks opportunities to earn company stock for production and contributions to overall company growth. For more information, please visit www.eXpRealty.com.
EXPI to Hold Annual Shareholders Meeting on April 27
eXp World Holdings, Inc. (OTCQB: EXPI) will hold its annual shareholders meeting on April 27, 2017, at the Coronado Island Marriott in Coronado, California, and the company is urging eXp Realty agent-owners, entrepreneurial real estate professionals, and investors to attend. eXp World Holdings is the holding company for eXp Realty LLC, an agent-owned cloud-based real estate brokerage.
The meeting will be held against a backdrop of the company’s rapid growth to more than 3,000 agents in the U.S. and Canada, a 25% increase from the 2,401 agents recorded at the end of 2016. It took the company approximately four months to go from 2,000 to 3,000 agents, almost half the time it took to move from 1,000 agents to 2,000. The company indicated that, year-over-year, in 2015 and 2016, it enjoyed a 200% increase in agent count.
eXp Realty is a full-service residential real estate company. It offers its agents training through a fully immersive cloud-based environment. The company also attracts agents through its program of commission incentives supplemented by agent-ownership opportunities.
eXp World Holdings presented at the ROTH Conference and detailed its unique model incentives. In its February 2017 investor presentation (http://nnw.fm/T0Xs5), the company described its cloud-based campus, with its ability to eliminate brick-and-mortar expenses and support staff. The firm operates in 42 U.S. states, the District of Columbia and Alberta, Canada.
EXPI also offers agents access to eXp University, a virtual classroom experience where agents can receive more than 25 hours of training a week. Agents in the cloud environment can work from any location, invest minimal capital, share commissions, and enjoy exponential bandwidth as the number of agents grows. Ownership is earned through an incentive program.
For more information, visit the company’s website at www.eXpWorldHoldings.com
EXPI Reaches 3,000 Agents through eXp Realty LLC
eXp World Holdings, Inc. (OTCQB: EXPI), holding company for the Agent-Owned Cloud Brokerage®, this morning announced that eXp Realty’s family of agents and brokers now includes more than 3,000 members across its operating markets in the United States and Canada. This figure represents a 25 percent increase from the company’s total of 2,401 agents at the end of 2016, as well as an increase of more than 200 percent year-over-year. “eXp Realty continues to attract an increasing number of top agents, teams and brokers, which has catapulted us to a place alongside the top residential brokerage firms in the country,” Glenn Sanford, chairman, founder and CEO of eXp World Holdings, stated in this morning’s news release. “In addition to the sheer volume of growth, our velocity of growth has also increased. It took us approximately four months to go from 2,000 to 3,000 agents, which is nearly half the time it took to grow from 1,000 to 2,000. We believe our rapid agent growth trajectory and corresponding revenue growth will continue to accelerate over time through the continued delivery of high value and support to our agents, our high split/low fee and cap business model, and our industry best revenue sharing incentives, all supplemented by our unique agent-ownership opportunities.”
To view the full press release, visit http://nnw.fm/cQ9FG
About eXp World Holdings, Inc.
eXp World Holdings, Inc. (OTCQB: EXPI) is the holding company for eXp Realty LLC, the Agent-Owned Cloud Brokerage® as a full-service real estate brokerage providing 24/7 access to collaborative tools, training, and socialization for real estate brokers and agents through its 3-D, fully-immersive, cloud office environment. eXp Realty, LLC and eXp Realty of Canada, Inc. also feature an attractive revenue sharing program that pays agents a percentage of gross commission income earned by fellow real estate professionals who they attract into the Company. As a publicly-traded company, eXp World Holdings, Inc. uniquely offers real estate professionals within its ranks opportunities to earn company stock for production and contributions to overall company growth. For more information, please visit www.eXpRealty.com.
EXPI Rewards Its Real Revenue Drivers
To make more money from the same amount of work would seem to be only a dream. However, realtors at eXp Realty get paid a higher percentage rate than typical realtor splits and actually earn an equity piece of the company while building their businesses.
eXp World Holdings, Inc. (OTCQB: EXPI) is the publicly-traded holding company of eXp Realty, the agent owned cloud-based residential brokerage. The company’s increased payouts and perks helped eXp Realty nearly triple its agent count last year, with over 1,500 new real estate professionals joining in 2016. The company’s Q3 to Q3 trailing revenues were up 112 percent, coming in at $42.6 million.
The dramatic increase in agents and revenues reflects the environment built by the company’s unique business model. eXp Realty believes that the greatest asset of any real estate brokerage is the team of agents and brokers who create the revenues of the company.
Traditional agent-brokerage splits can range from 40 to 70 percent, depending on location and experience. Because of much lower operating costs, eXp Realty agents get paid 80 percent. Agents also get to own a part of the brokerage. They receive 100 shares with their first transaction and 500 shares once they generate about $80,000 in gross commission income. After exceeding that number and paying the brokerage its share, agents then go to a transaction-fee model for the remainder of the year, where they are paid 100 percent of their commission for each transaction minus $250 for the brokerage. To encourage recruitment, agents are further incentivized with 500 shares for each new agent recruited to the firm.
Real estate brokers and agents are sales driven people, and they’re the ones that drive revenues for the brokerage. Agents, like most everyone else, respond to incentives that benefit them and their families. Because it is cloud-based and more cost effective, eXp Realty can offer a commission structure that more greatly benefits its agents and ultimately drives more revenues for the company. Using shares as bonuses and incentives creates coherence between the agents and the company while at the same time enhancing agent retention. The bottom line is that eXp Realty knows how to incentivize and reward its agents, the real revenue drivers in any brokerage.
For more information, visit the company’s website at www.eXpWorldHoldings.com
EXPI Capitalizing on the Benefits of Cloud-Based Learning Management Systems
Cloud-based Learning Management Systems (LMS) are “predicted to revolutionize both the way we learn as students and the way we learn on the job” according to Capterra (http://nnw.fm/Wn5Kf). The article continues to explain that more and more organizations are likely to adopt cloud-based LMS in the coming years.
Cloud-based Learning Management Systems are web-hosted platforms used by organizations to deliver, manage, and track online training programs for their employees. One of the industries highlighted as a user of LMS software is the real estate industry, and eXp World Holdings, Inc. (OTCQB: EXPI), holding company for a cloud-based, agent-owned real estate brokerage, is one company in the sector that’s taking advantage of the many benefits offers by cloud-based LMS.
In fact, the company’s eXp Realty subsidiary is a full-service real estate brokerage that offers 24/7 access to collaborative tools and socialization features to its agents and brokers through its 3-D, cloud office environment. In addition to collaborative tools and socialization, EXPI offers its agents a full network of online training resources.
As well as introducing lower setup costs, this method of training is easy to maintain and, according to eLearning Industry (http://nnw.fm/00EwK), increases productivity and job satisfaction. The article explains that virtual training saves time and money, and it is far more appealing to employees, or, in this case, agents and brokers, as they can access courses from anywhere at any time.
The eXp World Holdings training platform is accessible to agents and brokers all day, every day, for free. The system EXPI uses provides flexible training options to agents whereby they can improve and advance their eXp Realty operations. The platform offers a range of courses to choose from with the opportunity to attend meetings and company presentations as well.
This user-friendly way of learning is completely secure, and it allows for more effective training, as users can learn in their chosen environments, from any device. Courses can be uploaded easily and improved upon with time. Aside from the high-quality training, EXPI agents and brokers are able to increase their listings and sales while reducing their overhead and capital requirements.
For more information, visit the company’s website at www.eXpWorldHoldings.com
EXPI Driving Market Growth with Product, Process and People
Every company’s success is determined by product, process and people. With unique product offerings in the real estate industry, eXp World Holdings (OTCQB: EXPI) has demonstrated both the need and the desire for its services. Revenue growth of 112% in the last year, and 178% agent expansion during the same period, is a testament to successful product acceptance and use. Process, the efficient execution and delivery of the company’s products and services, is also proven by the numbers. The third and, perhaps, most significant aspect of a successful company is people, most importantly, management.
Management sets the course and culture of a company and is responsible for both product and process. The management team at eXp World Holdings has the background, vision, and expertise to execute the company’s plan efficiently and effectively.
CEO and Chairman of the Board Glenn Sanford accumulated executive level experience with a number of technology-related companies prior to founding eXp World Holdings. About 20 years ago, he founded and led a successful online e-commerce and logistics company, where attention to product and process are paramount. Sanford became active in online real estate in 2002, and, from 2004 to 2007, he led a large team of realtors while specializing in online client acquisition, client conversion and technology. When the real estate boom went bust, Sanford responded by forming eXp Realty in 2009 as the first truly cloud-based national real estate brokerage. His vision, experience, and tenacity still guide the company’s success today.
Sanford has surrounded himself with creative, high caliber executive leadership. Russ Cofano, president and general counsel, has an extensive background in real estate and real estate law, and he has worked at executive levels in nearly every segment of the real estate industry. Cofano is a published and recognized author, public speaker, and a sought-after consultant in real estate matters.
The additions of Jason Gesing, CEO of the Real Estate Division and Board Member, and Vikki Bartholomae, president of the Real Estate Division, dramatically impacted the upsurge in growth of eXp World Holdings. Both senior veterans of the real estate industry, Gesing and Bartholomae bring experienced success to the management team.
Sanford chose an experienced and dedicated CFO in Alan Goldman. Goldman consulted for eXp for three years prior to joining the eXp team. He has extensive experience in public company accounting standards and financial reporting, along with multiple other financial and back office skills.
The board of directors is seasoned, experienced, and well respected, both in the real estate community and beyond. Drawing from varied industries and backgrounds helps keep eXp focused and provides infrastructure for fast paced growth.
With product, process, and exceptional people in place, it’s no wonder that eXp World Holdings has enjoyed such phenomenal growth in recent months.
For more information, visit the company’s website at www.eXpWorldHoldings.com
EXPI Scheduled to Present at 29th Annual ROTH Capital Partners Conference
eXp World Holdings, Inc. (OTCQB: EXPI), holding company for eXp Realty LLC, this morning announced that it has been invited to present at the 29th Annual ROTH Capital Partners Conference, which is set to take place from March 12-15, 2017, at the Ritz-Carlton, Laguna Niguel in Dana Point, California. The company’s management team is scheduled to present on Monday, March 13 at 8:00 AM Pacific Time. For those unable to attend, a webcast of the presentation will be made available at http://wsw.com/webcast/roth31/expi. In addition to its presentation, the EXPI team is expected to host one-on-one meetings with prospective investors throughout the day. To schedule a one-on-one meeting, investors should contact their respective ROTH representatives.
To view the full press release, visit http://nnw.fm/Z6D0w
About eXp World Holdings, Inc.
eXp World Holdings, Inc. (OTCQB: EXPI) is the holding company for a number of companies, most notably eXp Realty LLC, the Agent-Owned Cloud Brokerage® as a full-service real estate brokerage providing 24/7 access to collaborative tools, training, and socialization for real estate brokers and agents through its 3-D, fully-immersive, cloud office environment. eXp Realty, LLC and eXp Realty of Canada, Inc. also feature an aggressive revenue sharing program that pays agents a percentage of gross commission income earned by fellow real estate professionals who they attract into the Company. As a publicly-traded company, eXp World Holdings, Inc. uniquely offers real estate professionals within its ranks opportunities to earn equity awards for production and contributions to overall company growth. For more information, please visit www.eXpRealty.com.
EXPI Presentation Reveals How Foundational Business Model Continues to Spur Record Growth
On Thursday, February 23, 2017, eXp World Holdings, Inc. (OTCQB: EXPI), a publicly-traded holding company whose primary operational business is eXp Realty LLC, the “Agent-Owned Cloud Brokerage®”, presented a virtual webinar covering the company’s operations, business model, and progress.
Glenn Sanford, company chairman and CEO, made the presentation, beginning with a summary of his background and the history of the company:
Glenn Sanford founded eXp Realty in 2009, coming from a background of technology, marketing, and sales. He founded a number of technology startups in the 1990s, going on to become successful in real estate, until the industry crisis began unfolding around 2006, making the traditional brick-and-mortar based real estate brokerage model less and less sustainable. It became clear that a radically different approach to the real estate brokerage business, based upon newly evolving technologies, was not only possible but necessary.
eXp Realty was founded on the idea that a national brokerage could operate much more cost effectively and efficiently without depending upon cash-draining physical facilities, over and above the minimum required by state laws. Through the application of advanced technologies, all types of agent related communication and training could actually be enhanced, without requiring time-consuming travel to central offices. A virtual campus could bring together a few, or a few hundred, agents, providing superior information flow and relationships, while giving agents more time and tools to succeed, and all at a dramatically reduced cost. It was this revolutionary approach that was designed-in to eXp Realty from the beginning, a unique foundational business model that is not easy to start, and almost impossible to transition to from a traditional model, but which eXp Realty has now successfully grown with dramatic results.
The approach was an innovation that has resulted in dramatic cost savings and operational efficiencies, allowing a variety of creative and unmatched benefits and attracting new agents from across the county. The company, which started out with only 24 agents, has already grown to over 2,700 agents, and it continues to expand. The operation now covers 42 states, with growth in revenue paralleling the growth in agents.
The benefits of this new way of doing business are key:
- It is easy to scale, making rapid expansion both possible and manageable
- Operating costs are minimized, even as size increases
- Cost savings feed attractive financial and other benefits for agents, encouraging growth
Agent benefits include:
- More attractive financial splits, where a greater percentage of each commission goes to the agent
- Revenue sharing programs, giving agents money that would normally be needed to support the brokerage
- Superior and timely communication, with agents able to get more training to succeed and build the company, without having to travel to a physical office
- Equity ownership programs, whereby agents continually grow their stake in the company by getting shares that are earned for future payout, encouraging lower turnover
The company’s equity sharing programs, now available through eXp World Holdings as a publicly-traded corporation, are a huge draw for the company, and have significantly encouraged growth in the number of agents. These programs provide a variety of ways for agents to get actual shares of the company, in addition to superior commissions, effectively providing a form of retirement program in which it is easy to participate. The shares can be earned in a number of ways, and are not just a reward for exceptional performance, but are also held for payout at a set future date to encourage agents to stay with the company, significantly lowering agent turnover.
Such equity sharing works hand-in-hand with the company’s position as a truly national brokerage, rather than a traditional franchise-based operation. Instead of local brokerages and agents feeling compelled to compete with one another, there is only one brokerage, in which agents own a growing stake. As a result, they are encouraged to bring in other agents and to do whatever they can to make the business grow. The effect has been rapid expansion, which the technology is easily able to handle without the loss of community and company unity.
For more information, visit the company’s website at www.eXpWorldHoldings.com
EXPI Still Growing Despite the 2016 Drop in Housing Affordability
At the end of 2016, the Federal Reserve announced that it would be raising its key interest rate for the first time since the housing bubble burst between 2005 and 2006. According to an article on Realtor.com (http://nnw.fm/yq2Tv), the interest on a 30-year fixed rate mortgage is expected to grow from under 4.2% in 2016 to anywhere between 4.5% and 5% by the end of this year.
Despite the rise in home prices slowing, they are still expected to go up 4% in 2017. In addition, Realtor.com (http://nnw.fm/xaZG4) reported 12% less available homes for sale in November 2016 than in the previous year. Despite a shortage of homes on the market, the U.S. Commerce Department’s new residential sales report (http://nnw.fm/y746P) stated that permits to put up new residences fell in November 2016. This was accompanied by fewer home constructions during the month, down nearly 20% below the revised October 2016 estimates. With the rise in mortgages and home prices, coupled with the low inventory of houses on the market today, buyers are expected to struggle to find their perfect homes.
Although the end of 2016 showed cause for concern for real estate businesses across the country, inventory for January moved at a 4% faster annual rate (http://nnw.fm/obP83). This stronger than usual off-season has left a low volume of available homes for sale with very high prices. But this dip in volume has not halted the rising interest in eXp World Holdings, Inc. (OTCQB: EXPI), holding company of eXp Realty LLC, or its growth.
The agent-owned, cloud-based real estate brokerage has continued to see a significant rise in new agents and brokers, with a growth rate of over 100% thanks to its technology revenue sharing and ownership. The company has accepted over 100 new agents and brokers into its team in the month of February alone, leading to more virtual meetings with a significant growth in attendance.
The company’s stock price has been powering higher for the best part of two years, reaching $3.96 per share in afternoon trading on Tuesday. EXPI recently announced the addition of its newest team member, real estate veteran and former quarterback for the Los Angeles Rams Vince Ferragamo.
For more information, visit the company’s website at www.eXpWorldHoldings.com
EXPI Announces Addition of Super Bowl Quarterback Vince Ferragamo to the Agent-Owned Cloud Brokerage®
eXp World Holdings, Inc. (OTCQB: EXPI), holding company for eXp Realty LLC, today announced the addition of real estate veteran and former Los Angeles Rams quarterback Vince Ferragamo to the Agent-Owned Cloud Brokerage®. Ferragamo is most widely-recognized for his tenure in the National Football League, during which he became the first quarterback to start a Super Bowl in the same season as his first career start. Since his retirement from the NFL, Ferragamo has been active in the real estate industry as a brokerage owner. “eXp Realty is exciting to me because the company recognizes and believes as I do that when good people work together with shared purpose and common goals there is nothing that cannot be achieved,” Ferragamo stated in today’s news release. “There are good real estate professionals across this country who have expressed interest in being part of the Ferragamo real estate brand but until the eXp opportunity presented itself, I didn’t have a way in which to work with, learn from, collaborate with or coach agents outside of Southern California. I am excited to be part of the team, part of the family and someone who can both participate in agent ownership as well as introduce it to others.”
To view the full press release, visit http://nnw.fm/RrB8V
About eXp World Holdings, Inc.
eXp World Holdings, Inc. is the holding company for a number of companies most notably eXp Realty LLC, the Agent-Owned Cloud Brokerage® as a full-service real estate brokerage providing 24/7 access to collaborative tools, training, and socialization for real estate brokers and agents through its 3-D, fully-immersive, cloud office environment. eXp Realty, LLC and eXp Realty of Canada, Inc. also feature an aggressive revenue sharing program that pays agents a percentage of gross commission income earned by fellow real estate professionals who they attract into the Company.
As a publicly-traded company, eXp World Holdings, Inc. uniquely offers professionals within its ranks opportunities to earn equity awards for production and contributions to overall company growth. For more information, visit www.eXpWorldHoldings.com. For eXp Realty, please visit www.eXpRealty.com
EXPI Set to Capitalize on Canadian Real Estate Market Interest Following U.S. Presidential Election
According to a just-published article by Royal Lepage (http://nnw.fm/0YBTu), Canada’s leading real estate services provider, there has been a verified surge of American interest in Canadian real estate following the recent presidential election. The company reported an increase in searches into the Canadian real estate market from across the United States.
Although the United States has always been a top source for immigration into Canada, the past year has seen a significant increase in U.S. traffic on the Royal Lepage website. The site reported an increase of just under 74% compared to the same period in 2015. In addition, according to the company’s Canada-wide survey, nearly 40% of respondents expect a rise in American inquiries into the Canadian real estate market.
eXp World Holdings, Inc. (OTCQB: EXPI) is especially well positioned for growth in the Canadian market. The fully agent owned real estate brokerage already has a significant presence in the country’s real estate sector thanks to its subsidiary, eXp Realty of Canada, Inc., which covers over 80 areas in Canada. Its unique ability to scale rapidly is based upon the fact that it is cloud-based, using advanced technologies for efficient communication, marketing, and training, and not dependent upon traditional brick-and-mortar facilities.
According to the findings, top researched locations in Canada by Americans include Ontario with over 41%, British Columbia with over 17%, Quebec with just under 14%, and Alberta with just under 8% of searches, with Calgary and Edmonton receiving the most interest from potential American buyers in the Alberta province.
Although Royal Lepage realtors working in these areas announced not having sold any properties to Americans since October 2016, they still represent a large percentage of property purchasers in Canada, and the dramatic increase in American interest in Canadian real estate since the election can’t be ignored.
For more information, visit the company’s website at www.eXpWorldHoldings.com
EXPI Hosting Webinar on February 23
eXp World Holdings, Inc. (OTCQB: EXPI), holding company for eXp Realty LLC, this morning announced its plans to host a corporate update webinar on Thursday, February 23, 2017, at 8:30 AM Pacific Time. The call, which is to be hosted by Glenn Sanford, chairman and CEO of EXPI, and Alan Goldman, the company’s CFO, will feature a look into EXPI’s sustained growth in the real estate sector, as well as an overview of the company’s unique business model and some insight into its key milestones. To access the call, interested investors should dial 1-888-221-3884 if within the United States or 1-913-312-1496 if international. Callers can also view a supplementary presentation relating to the webinar by visiting http://nnw.fm/D4R1v. For those unable to attend, a replay will be made available approximately two hours after the call. To access this replay, investors should dial 1-877-870-5176 from the U.S. or 1-858-384-5517 from international locations, using the replay PIN 9956406.
To view the full press release, visit http://nnw.fm/lLJ6v
About eXp World Holdings, Inc.
eXp World Holdings, Inc. (OTCQB: EXPI) is the holding company for a number of companies, most notably eXp Realty LLC. The Agent-Owned Cloud Brokerage® operates as a full-service real estate brokerage providing 24/7 access to collaborative tools, training, and socialization for real estate brokers and agents through its 3-D, fully-immersive, cloud office environment. eXp Realty, LLC and eXp Realty of Canada, Inc. also feature an aggressive revenue sharing program that pays agents a percentage of gross commission income earned by fellow real estate professionals who they attract into the Company.
As a publicly-traded company, eXp World Holdings, Inc. uniquely offers real estate professionals within its ranks opportunities to earn equity awards for production and contributions to overall company growth. For more information, please visit www.eXpWorldHoldings.com
EXPI Hires BDO USA, LLP as Its Accountant
eXp World Holdings, Inc. (OTCQB: EXPI), in a February 3, 2017, SEC 8-K filing (http://nnw.fm/uRi8R), announced that it has changed accounting firms, hiring BDO USA, LLP (BDO) as its registered independent accountant and dismissing WSRP, LLC (WSRP). The change was made effective at the time of announcement.
EXPI originally engaged WSRP, LLC in September 2015. The board of eXp World Holdings approved the change in accounting firms, effective February 3, 2017, for its year ended December 31, 2016. In the SEC filing, EXPI reported that it had no differences with WSRP regarding accounting principles, disclosures in its financial statements, or auditing scope and procedures.
In a January 27, 2017, SEC Form D filing (http://nnw.fm/NhP3Y), the company also reported the status of its exempt offering of $3.5 million in securities. It reported that it has recorded sales of $760,000 from 12 investors, leaving EXPI with $2,740,000 remaining to be sold. Proceeds from this offering are expected to be used to fund the company’s working capital for ongoing operations.
eXp World Holdings subsidiary eXp Realty LLC is a cloud brokerage, agent-owned company. It reported 2,401 real estate brokers and agents on its platform at year-end 2016.
The company’s real estate concept utilizes the internet and a cloud-based office environment in order to eliminate redundant payroll costs and cut margin-eroding expenses normally associated with brick-and-mortar operations, such as rent, utility expenses, and furnishings. Instead, EXPI can spend more heavily on training its realtors and agents using advanced technologies.
A Fundamental Research Report (http://nnw.fm/S9mZf) on the company issued last year projected EXPI’s volume in 2017 at $72 million.
For more information, visit the company’s website at www.eXpWorldHoldings.com
Innovation and Globalization Define Top Residential Real Estate Brokerages and Portals
The top residential real estate companies and portals are achieving global reach through the embrace of cloud-based technology and franchising. In a sign of the times, these volume businesses are leveraging modern technological advancements to accomplish more than sales goals and to leave a legacy of lasting social impact across the globe. The growth of companies like the Zillow Group, Inc. (NASDAQ: Z), Realogy Holdings Corp. (NYSE: RLGY), RE/MAX Holdings, Inc. (NYSE: RMAX), Berkshire Hathaway Inc. (NYSE: BRK.A) / HomeServices and eXp World Holdings, Inc. (OTCQB:EXPI) corresponds with this cycle. By implementing novel infrastructure, agent ownership structures, and aligning the goals of their agencies with those of their agents and brokers, these companies have developed comprehensive and uniquely different value propositions for real estate professionals.
The 2017 Swanepoel Power 200 (SP200) list (http://nnw.fm/R6VqY) recently ranked the 200 most powerful people in the residential real estate brokerage business, and, judging by their growth numbers, all of these leaders have hit a sweet spot in the industry.
Zillow Group (NASDAQ: Z) CEO Spencer Rascoff is first on the SP200 list with five other management team members spread throughout the list. Over the course of his seven-year tenure, Zillow’s market cap has risen to $6.5 billion; its team members have built and now oversee the world’s most popular real estate site (http://www.zillow.com); and, following the acquisition of Bridge Interactive Group, the company is developing a comprehensive data management platform with a focus on bringing leads and clients to agents, agent teams and brokerages.
Realogy Holdings (NYSE: RLGY) – the global leader in residential real estate franchising – holds three spots on the list, with its chairman, CEO and President Richard Smith coming in second. For close to 20 years, Smith has led Realogy along a stable, assertive path. The firm currently manages some of the United States’ largest brokerages and seven major brands representing more than 270,000 agents, and it brings in more than $5.7 billion in revenue on a yearly basis. Recently, the company has been integrating technology through the acquisition of Zip Realty to its various operating franchises.
Dave Liniger occupies the fifth spot on the SP200 list and shares the spotlight with 10 other C-suite executives from RE/MAX (NYSE: RMAX). After co-founding RE/MAX in 1973, Liniger returned in 2015 as chairman and CEO of the company and continued to push it to thrive. The publicly owned firm, which has over 110,000 agents in 95 countries and territories completing over one million transactions annually, saw its market cap more than double in 2016 and surpass $1 billion.
The SP200 list also highlights Gino Blefari, who manages HomeServices of America’s franchise network HSF Affiliates, and six of his colleagues. HSF Affiliates serves more than 46,000 agents signed with Berkshire Hathaway HomeServices, Prudential Real Estate and Real Living real estate brands. The firm has 1,500 affiliate offices handling 352,000 annual transactions totaling over $105 billion in annual sales.
As with Zillow, Realogy, RE/MAX and Berkshire Hathaway (NYSE: BRK-A) HomeServices, eXp Realty– a subsidiary of eXp World Holdings– is steadily and insistently carving out its share of the residential real estate industry by implementing a cloud-based approach using everything from Virtual Worlds for business to partnerships with some of the strongest technology players for top performing real estate agents and teams.
eXp Realty founder and CEO of eXp World Holdings, Glenn Sanford is ranked No. 140 on the SP200 list and has led the company and its up-and-coming subsidiary, eXp Realty, to become one of the fastest growing real estate brokerages in the United States with a focus on using the cloud for collaboration and community, all while removing most of the expenses related to bricks and mortar offices.
The company, which records $1.8 billion in annual sales, was founded in October 2009, structured with a revenue sharing program that rewards agents a percentage of the gross commission income earned by fellow real estate professionals they have introduced to the company.
eXp Realty’s practice of sharing revenue and equity with the company’s agents and brokers propelled it to an expedited rate of growth and retention. As of year-end 2016, eXp Realty had nearly tripled its family of agents and brokers from 864 to more than 2,400 across 42 U.S. states, Washington D.C., and parts of Canada.
Over time, eXp Realty has become the brokerage of choice for high-performing agents and teams, as well as for brokerage owners seeking to raise profits, reach scalable growth, and provide the opportunity of ownership to agents in their organization-a disruptive shift from the typical relationship between agent and brokerage.
For more information on eXp World Holdings, Inc. (EXPI) please visit: eXp World Holdings
EXPI Using Virtual Reality to Better Train its Agents and Brokers
Brokers have been using virtual reality for a long time, but augmented reality, or AR, is expected to be a new trend for 2017, according to the ‘Emerging Trends in Real Estate 2017’ report published by PWC (http://nnw.fm/PZ7Gy). With the emergence of Pokémon Go, it became clear that augmented reality could prompt over 10 million people to leave their homes and search for digital characters. Could it somehow do the same for the real estate industry?
Despite basic AR technology having been around for some time, brokers are now using it to show tenants and potential buyers customizable experiences not seen before. The biggest change in consumer behavior came after Pokémon Go showed that AR could actually encourage people to visit new places, something the real estate industry relies upon heavily. The report explains: “Since real estate, both residential and commercial, relies upon the consumer experiencing a property—almost always in a site visit—before committing to a transaction, stimulating such a visit by a technological lure can be extremely powerful.”
However, marketing and sales are not the only things in real estate that augmented and virtual reality are transforming. Companies are now able to use these technologies as a way to better train their agents and brokers, as shown by eXp World Holdings, Inc. (OTCQB: EXPI). EXPI subsidiary eXp Realty is an agent-owned cloud brokerage that has leveraged advanced-tech systems and tools to grow rapidly on an international level.
EXPI has given agents and brokers the opportunity to work, attend classes, strategize, innovate, build teams, and collaborate through the internet, from anywhere in the world. However, the company believes that the face of the real estate industry is still changing, and that real estate professionals should always be ready to improve their approach to business.
With internet technology evolving, eXp World Holdings, Inc. knows that its consumers are equipped with more knowledge than ever before, and they no longer see as great a need to visit a traditional real estate office. This is why EXPI has created a cloud-based environment where agents are able to buy and sell homes without physical brick and mortar offices. With consumers relying less and less on these offices, EXPI is able to invest more into its services, including the training of its agents and brokers, rather than covering costs associated with facilities.
For more information, visit the company’s website at www.eXpWorldHoldings.com
EXPI Subsidiary eXp Realty Records 178% Increase in Agent Count During 2016
Before the opening bell, eXp World Holdings, Inc. (OTCQB: EXPI) announced final 2016 agent totals for subsidiary eXp Realty LLC, the Agent-Owned Cloud Brokerage®. With 2,401 real estate brokers and agents on its platform at the end of the year, the company achieved a year-over-year increase of 178 percent, or 1,537 members, during 2016. This growth was driven, in part, by eXp Realty’s continued geographic expansion. The company currently operates in 42 states, the District of Columbia and Alberta, Canada. Likewise, in this morning’s update, EXPI attributed the success of eXp Realty to its “unique agent-centric model that allows agents and brokers to build their own businesses, while establishing a direct ownership interest” in the company, as both a shareholder and an operating partner.
“Our rapid growth in 2016 not only exceeded our goal of 2,200 agents by year-end, but also established us as one of the fastest growing brokerages in North America,” Glenn Sanford, founder, chairman and CEO of EXPI, stated in the news release. “Our model has resonated with quality real estate professionals, allowing us to attract some of the top producing agents as well as some of the highest ranking teams throughout the U.S. and Canada.”
In the fourth quarter of 2016 alone, eXp Realty announced the additions of a number of leading real estate professionals to its growing ranks. These included Miguel Herrera, the top luxury agent in all of South Texas; the Brent Gove team, one of the top real estate teams in California; Darren James Real Estate Experts, which was ranked just outside of the top 50 nationally in terms of 2015 transactions by the Wall Street Journal; and Burch & Co. Real Estate, the top brokerage in Northeast Arkansas.
eXp Realty’s innovative approach to the real estate industry also garnered attention from a collection of high-profile media outlets in 2016, with the company being named a ‘Top Workplace’ by The Oklahoman newspaper in December. eXp Realty received similar recognition from both The Washington Post and The Atlanta Journal-Constitution earlier in the year.
The company kicked off 2017 by strengthening its leadership team, appointing industry veteran Laurie Hawkes as an independent director of eXp Realty. Hawkes brings nearly four decades of experience to the Agent-Owned Cloud Brokerage®, having previously served as president and head of acquisitions for U.S. Realty Advisors, a $3 billion real estate private equity firm operating in New York City. Leaning on the combined expertise and experience of its management team and board of directors, EXPI will look to build on its strong 2016 growth while continuing to drive innovation in the evolving real estate industry.
“Looking ahead to 2017, we expect to continue our accelerated growth rate in both agent count and revenues as a result of our unique commitment to agent ownership, support and engagement,” concluded Sanford.
For more information, visit the company’s website at www.eXpWorldHoldings.com
Strong Residential Real Estate Market Bodes Well For EXPI
The market for residential real estate is projected to be strong in 2017 and 2018 by numerous real estate organizations, and that can only be bullish news for Bellingham, Washington-based eXp World Holdings, Inc. (OTCQB: EXPI), the holding company for eXp Realty LLC, the Agent-Owned Cloud Brokerage®.
The National Association of Realtors® (NAR) and the National Association of Home Builders® (NAHB) agree that there will be an increase in both existing and new home sales. They may not share the same base numbers in residential real estate, but they both expect positive growth in the two-year period ahead.
Lawrence Yun, chief economist for NAR, expects existing home sales to grow 2% in 2017 to about 5.46 million (http://nnw.fm/Zp3Wj). Then, this figure will grow by another 4% in 2018 to 5.68 million, he forecasts. Yun added that existing home prices will likely jump by 4% in 2017. This market performance will be driven by a combination of more millennials entering their prime home buying years, rising household formation and job gains, he said. Yun also anticipates housing starts to jump 5.3% in 2017 to 1.22 million.
NAHB (www.nahb.org) sees housing total starts growing by 6.6% from 1.162 million in 2016 to 1.239 million in 2017, and another 7.5% to 1.332 million in 2018. Starts for single family homes will grow from 780,000 in 2016 to 855,000 in 2017 and 961,000 in 2018 — a two-year jump of 23%. New single family home sales will grow from 565,000 in 2016 to 630,000 in 2017 and 708,000 in 2018, the group predicts. Forecasts call for sales of existing family homes to grow by 2.6% from 4,832 in 2016 to 4,960 in 2018.
Additionally, Zillow’s Real Estate Market Report for October 2016 reported that U.S. median home values were up by 6.2% in 2016 (http://nnw.fm/7vVmY). Zillow projects that rally will cool down to a 3% appreciation increase by late 2017. A majority of housing experts told Zillow in its Home Price Expectations Survey that the trend to slowing home appreciation will also result in more inventory and a shift from a seller’s market to a buyer’s market in 2018 or 2019. Zillow’s Chief Economist, Dr. Svenja Gudell, said, “As the number of homes for sale increases and home value appreciation slows, we expect the market to meaningfully swing in favor of buyers within the next two to three years.”
To eXp World Holdings, Inc., as well as subsidiary eXp Realty, LLC, the projections of a strong real estate housing market in 2017 and 2018 are good news. If those projections hold up, it will mean more sales of both existing and new homes over the next two years in a vibrant new and existing homes market.
In its 10-Q filing of September 30, 2016, eXp World Holdings, Inc., reported nine-month revenues of $36,181,796, a 119% increase from revenues of $16,453,307 a year earlier. For its quarter ended September 30, 2016, sales rose 112% to $15,756,956 from $7,419,103 the previous year.
eXp Realty is a cloud-based real estate brokerage operating in 41 states, the District of Columbia and Alberta, Canada. Without the margin-eroding costs of physical brick and mortar offices or redundant staffing expenses, the cloud-focused brokerage network has attracted some 1,900 leading agents and brokers operating across North America. eXp Realty, as a full service real estate brokerage, offers 24/7 access to collaborative tools, training and socialization for real estate brokers and agents through its 3D, fully immersive, cloud office environment.
For more information, visit the company’s website at www.eXpWorldHoldings.com
EXPI Adds Laurie Hawkes to Board of Directors
Before the opening bell, eXp World Holdings, Inc. (OTCQB: EXPI) announced the appointment of Laurie Hawkes as an independent addition to its board of directors. Hawkes brings nearly four decades of leadership experience in realty and finance to EXPI, during which time she has held high-level positions as an investment banker, a private real estate equity investor and a successful entrepreneur. Her expertise in the real estate sector, particularly as it relates to raising capital, executing acquisition strategies, developing business plans and creating scalable operational platforms, is expected to play a key role in the continued development and expansion of EXPI’s full-service real estate brokerage, eXp Realty LLC.
“Laurie brings almost 40 years of leadership experience in realty and finance to eXp,” Glenn Sanford, founder, CEO and chairman of EXPI, stated in this morning’s news release. “We look forward to leveraging her unique skill set and acumen as we further scale our innovative, cloud-focused real estate brokerage. Her decision to join eXp’s board comes at an opportune time, as we work to build a profitable company that directly contributes to increased shareholder value.”
Hawkes began her career in 1979 as an investment banker at Salomon Brothers, Inc., where she would serve as a director and spend 14 years specializing in real estate acquisitions and mortgage finance. In 1993, she was recruited as a managing director to join the Real Estate Investment Banking Division, a position through which she developed new business and expanded structured finance at CS First Boston Corp. From 1995 to 2007, Hawkes worked at U.S. Realty Advisors, a $3 billion real estate private equity firm operating in New York City. She became a partner in 1997 before serving as president and head of acquisitions from 2003 to 2007.
Since leaving U.S. Realty Advisors, Hawkes has established herself as a pioneer in bringing institutional capital to the single-family rental sector. She co-founded American Residential Properties, Inc. in 2012 and led the start-up during its transformation into a $2 billion enterprise. In 2013, Hawkes co-led the company’s IPO and listing on the NYSE. American Residential Properties merged with American Homes 4 Rent (NYSE: AMH) in March 2016, creating an $8 billion enterprise with a portfolio of more than 47,000 homes.
For EXPI, the addition of Laurie Hawkes as an independent director is expected to play a key role as the company, through its Agent-Owned Cloud Brokerage™, seeks to build on its 2016 growth in the new year. As of the end of Q3 2016, eXp Realty had more than 2,130 real estate professionals operating across 41 states, the District of Columbia and Alberta, Canada. This total marked an increase of 151 percent from the previous year. Similarly, EXPI’s third quarter 2016 revenues totaled $15.7 million, a year-over-year increase of 112 percent.
For more information, visit the company’s website at www.eXpWorldHoldings.com
Great buying opportunities here into the beginning of 2017. On my Li$t
:)
EXPI Maintaining a Positive Outlook for the Real Estate Industry in the U.S.
eXp World Holdings, Inc. (OTCQB: EXPI), the holding company for the agent-owned cloud-brokerage eXp Realty LLC, is maintaining a positive attitude toward the coming year. Most recently, RISMedia (http://nnw.fm/l7zcS) published a study highlighting the fact that more real estate executives are confident about their own local economies than about the world economy. Yet many real estate executives are concerned about risks posed by rising costs for traditional real estate, especially if the market should slump.
eXp World Holdings, Inc. is of the same opinion, pointing out that expenditures on brick and mortar facilities would remain fixed in the face of falling profits. According to EXPI: “Physical brick and mortar offices are of diminishing utility but represent a steady and escalating expense that erodes profits.”
EXPI has therefore used the emergence of the Internet as a force to drive advertising, leads, and sales, without the need for brick and mortar offices. By becoming a cloud-based brokerage and adopting a number of cloud-based technologies, EXPI has been able to not only cut out redundant staffing costs but also cut down on ancillary costs such as utility bills, rent, CAM, and furnishings, which are associated with brick and mortar locations.
As a result of the organization’s ability, from the beginning, to evolve with technological advancement and reduce costs by adopting a cloud-based environment, EXPI was voted second on this year’s Top Workplaces list among small-employer winners, according to NewsOK (http://nnw.fm/4BkjM). In addition, Fundamental Research Corp. (http://nnw.fm/uRvq7), a research firm that initiated coverage of eXp World Holdings in April 2016, updated its analysis of the company, giving EXPI a price target of $6.78 per share compared to its previous objective of $4.06. The upward revision is based on EXPI’s record third quarter revenues, the change in its long term projections, and its healthy balance sheet.
For more information, visit the company’s website at www.eXpWorldHoldings.com
EXPI Announces eXp Realty’s Reception of the Oklahoma 2016 Top Workplaces Award
In a news release issued late Monday, eXp World Holdings, Inc. (OTCQB: EXPI) announced that eXp Realty, the company’s full-service real estate brokerage, was recently recognized as one of the top workplaces in the state of Oklahoma by The Oklahoman newspaper. Based upon feedback from workplace members gathered through independent surveys by both The Oklahoman and Workplace Dynamics, the Agent-Owned Cloud Brokerage® earned the second spot in the annual list’s small-employer category, joining an impressive roster of 17 ‘Top Workplaces’ newcomers.
“This is a tremendous honor for all of the agents and brokers who are on our team,” Micah Mruwat, the company’s broker and leader in Oklahoma City, stated in yesterday’s news release. “This award speaks to the collaborative, engaging and rewarding environment of our company, not just here but in and across all eXp markets.”
Indeed, eXp Realty’s recent success has spanned markets across the country. In June of this year, the company earned a spot on similar lists recognizing the top workplaces in Washington, D.C. and Atlanta. Notably, eXp Realty’s inclusion on The Atlanta Journal-Constitution list marked the second consecutive year that the company has been recognized as a top workplace in Georgia’s capital city. When speaking to eXp Realty’s recent success in achieving these honors, Jason Gesing, the brokerage’s chief executive officer, highlighted the quality of the company’s growing collection of agent-owners.
“The synergy among our agents and brokers in Oklahoma is reflective of strong leadership in the state but also demonstrates agent-ownership’s impact on organizational health, culture, and shared sense of purpose,” he stated in yesterday’s news release. “At eXp Realty, our agents are both our shareholders and our customers. Their voices ring loudest and their opinions matter most which is what makes this award, and each Top Workplace recognition, so meaningful.”
By creating a rewarding work environment for some of the top real estate professionals in the country, eXp Realty has also been able to record tremendous growth since the beginning of 2016. On January 1, the company reported a base of 864 agents across its markets in the United States and Canada. By November, this figure had expanded to more than 2,200 real estate professionals spanning 41 states, the District of Columbia and parts of Canada. Upon the release of its third quarter fiscal results last month, EXPI gave prospective shareholders some insight into the financial ramifications of this strong market performance.
During the three-month period ended September 30, 2016, EXPI recorded total revenues of $15.7 million, a year-over-year increase of 112 percent. Likewise, the company’s cash and cash equivalents at the end of the quarter were up 110 percent from the comparable period of 2015. These results, when combined with EXPI’s healthy balance sheet, quickly caught the attention of industry analysts. Less than a week after the company released its Q3 results, independent research firm Fundamental Research Corp. updated its coverage of the company and raised its fair value estimate on EXPI from $4.06 to $6.78 per share (http://nnw.fm/Kl1gg).
For more information, visit the company’s website at www.eXpWorldHoldings.com
EXPI Creating a Legacy of Commercial and Social Impact
eXp World Holdings, Inc. (OTCQB: EXPI) is a corporation of the times and parent company to a selection of notable subsidiaries that are making a lasting impact, both commercially and socially. The most notable of these companies is eXp Realty LLC, a rapidly-growing, cloud-based brokerage with an agent base featuring more than 2,000 members.
The eXp Realty business model is a thing of beauty. The model has helped accelerate eXp Realty’s already significant growth throughout North America (since January 1, 2016, eXp Realty has added over 1,000 real estate professionals to its ranks and more than doubled its staff numbers) and led to eXp Realty being cited as a ‘brokerage of the future’ (http://nnw.fm/5t4tB).
eXp Realty runs all of its operations remotely. From agent training to lead generation, leadership meetings, exchanges of ideas and experiences, IT services and more, every aspect of the business is run through a virtual reality platform. This complete embrace of ground-breaking technology, including virtual and augmented reality advancements, has helped the company form a close-knit community of real estate professionals who serve over 40 markets across the United States and Canada.
eXp Realty does a lot of things differently. Through its 3-D, fully-immersive, cloud office environment, agents and brokers can collaborate, train and socialize anywhere and anytime. Courtesy of their around-the-clock access to this office environment, they can stay connected from the comfort of their homes or while traveling abroad and, at the same time, erase all of the expenses typically linked to owning and running a physical office. This way, brokerage members are able to increase their profit margins without spending too much out of pocket and, simultaneously, provide more cost-effective services to their customers.
On the revenue side, the eXp Realty business model goes several steps further through aggressive and profitable revenue sharing programs. It offers its members the opportunity to earn equity rewards in exchange for their contributions to the company’s growth. Plus, both eXp Realty and eXp Realty of Canada pay agents a percentage of the gross commission income earned by colleagues they bring into the company.
For more information, visit the company’s website at www.eXpWorldHoldings.com
EXPI Keeping Up-To-Date with Buyer Demographics
According to The National Association of Realtors (http://nnw.fm/4IfCb), this October was the second month in a row to show incredible sales peaks in existing home sales, registering the highest sales rate in nearly 10 years. With existing home sales skyrocketing for yet another month, it is no surprise that real estate agencies are looking for ways to maintain a competitive edge, anxious to better serve their customers based upon preferences and demographics. eXp World Holdings, Inc. (OTCQB: EXPI), the holding company for eXp Realty LLC, a unique agent-owned cloud brokerage, believes in just this. In order to maintain a competitive edge, EXPI stays up-to-date with not only the current geopolitical and economic changes in both the U.S. and Canada but also the volatility in various markets, employment rates, and all technological changes.
The National Association of Realtors published an article, entitled ‘Protecting Your Brand Online: Social Media Tips for Real Estate Professionals’ (http://nnw.fm/cBsP3), which highlights the importance of maintaining a strong position within the virtual world. EXPI works through a cloud office environment, allowing brokers and agents to work, attend classes, strategize, and collaborate through a virtual medium while efficiently serving customers in their search for a new home. The company is the first truly agent-owned brokerage, allowing it to increase broker and agent listings and sales while reducing overhead costs.
However, the changing real estate scene is not just about advances in technology. The diversity of future homebuyers is expected to transform the real estate industry as a whole. During the buyer preferences forum (http://nnw.fm/fOl1M), organized by Realtor University, professionals discussed the changing demographics in the U.S., new home preferences, and the livability needs of current and future home buyers. According to the research, nearly every generation has a strong desire to own their own property. The article pointed out that, despite technological advancements, “This tough environment for buyers and sellers further demonstrates the importance of real estate businesses being based on relationships and face-to-face interactions.”
eXp World Holdings combines advanced technology from its cloud-based environment with the value that consumers see from working face-to-face with professionals. Because many future home buyers start their searches online, the company cuts costs by cutting out physical brick and mortar offices, yet maintains a high level of service by navigating the home buying process with clients while giving information and comparative perspective on properties. Agents at EXPI provide local market expertise, negotiating and advocating on their clients’ behalf.
For more information, visit the company’s website at www.eXpWorldHoldings.com
Fundamental Research Corp. Raises Revenue Forecast for EXPI after Record Q3 Results
Independent research group Fundamental Research Corp. announced that it has updated its analysis of eXp World holdings, Inc. (OTCQB: EXPI) with an increased fair value estimate and revenue forecast after the company’s record financial results in the third quarter of 2016. The research firm began coverage of eXp World Holdings in April and has already updated its projections once in August amid the group’s unprecedented high growth driven by its real estate brokerage division, eXp Realty.
eXp Realty has remained the driving force behind the group’s increase throughout the last few months, as it is currently one of the fastest growing real estate brokerages on the U.S. market, having nearly tripled in size and operations since inception. The Agent-Owned Cloud Brokerage™ currently has more than 2,200 real estate professionals serving 41 states, the District of Columbia, and Alberta, Canada. eXp Realty had only 864 agents on January 1 of this year and 1,580 in August, when the previous Fundamental Research Corp. report was released.
In its latest report (http://nnw.fm/G4Lnk), released on Monday, Fundamental Research Corp. raised its year-end agent forecast to 2,400, up 300 from its previous estimate of 2,100. The research group also raised its average agent count for 2017 while maintaining its year-end estimate at 4,500 agents. The long-term agent count forecast was also raised from 15,000 to 25,000 by 2022. According to the report, EXPI’s ability to attract successful real estate professionals at such an impressive rate is vital and will enable the company to continue its rapid growth of its agent base.
The revenue forecast for 2016 was also raised to $53.46 million from $48.94 million. For 2017, the research group estimates a higher revenue of $101.43 million, compared to the previous estimate of $82.50 million. Noting that EXPI’s revenues in Q3 increased by 112% year-over-year to $15.77 million, and that total revenues for the first nine months of 2016 were $36.18 million, 120% higher than the same reporting period last year, Fundamental Research Corp reiterated its ‘Buy’ rating for the company, with a raised fair value estimate of $6.78 per share compared to the current $4.06 per share.
The research group also reiterated its risk rating of 4 for the company, outlining the following potential risks: the high competitive nature of the real estate brokerage industry, the company’s overall profitability being very dependent on the health and state of the real estate market, the fact that the company is still in a growth stage with a rather short track record and has yet to prove its ability to retain agents long-term, and the company being susceptible to negative regulatory law changes, as any other real estate brokerage on the market.
The company’s exponential growth rate is the direct result of eXp Realty’s unique business model that relies heavily on cloud-based technologies and advanced virtual reality platforms to build a strong online community of real estate professionals. Without the limitations of a brick and mortar office and related expenses, members can provide efficient customer service and increase their profits with a lower risk. The company also offers all agents the possibility of being owners by giving them access to revenue sharing programs and the opportunity to become shareholders based on their contribution to company growth.
For more information, visit the company’s website at www.eXpWorldHoldings.com
EXPI Gearing Up to Serve Generation Z
Recently there has been a lot of talk about Generation Z from real estate sources such as The National Association of Realtors (NAR), DS News, and 8Z Real Estate, effectively stating that “Nearly All of Generation Z Sees Homeownership in Their Future.” Although the focus has often been on millennials when it comes to home ownership, DS News (http://nnw.fm/v4XWg) asked its readers some key questions: “What about the generation that follows behind Millennials? What are those from Generation-Z, or those born after 1996, planning when it comes to becoming future homeowners?”
An NAR article entitled ‘Nearly All of Generation Z See Homeownership in Their Future’ (http://nnw.fm/z00Di) highlights findings from a session titled ‘The Gen Z Consumer’ at the 2016 REALTORS® Conference & Expo, during which a panel of Gen Z people discussed in some detail what their social media and shopping preferences are, including their future plans to become property owners. At the conference session, Sherry Chris, president and CEO of Better Homes and Gardens Real Estate, pointed out that it was time to learn more about the future of the real estate industry and the next generation that is going to lead it.
Every panelist at the session said that they would like to own their own home and that homeownership will be part of their future. Although results varied between rural and suburban areas, everyone expressed a desire for large square footage. In addition, according to Better Homes and Gardens Real Estate, 97% of Gen Z believes they will own their own home and 82% said owning a home is one of the most important factors in achieving the American dream. In addition to the above, many polled Gen Z-ers said they will most likely work with a real estate agency, and that although they would search online they believe it is important to have professional guidance during the process. 8Z Real Estate (http://nnw.fm/9dNUK) put it perfectly: “There are 55 million of them, about 17% of the US population. Gen Zers are digital natives who don’t make much of a distinction between the physical and digital worlds.”
This is where eXp World Holdings, Inc. (OTCQB: EXPI), the holding company for eXp Realty LLC, comes in. Since its beginnings, the company has moved to better equip its agents with a technologically sophisticated Cloud Office Environment, allowing them to work, attend classes, collaborate, and innovate to best serve their customers.
EXPI has combined advancements in technology with the simple fact that real estate consumers still see value in working with professionals. The systems and tools put in place by the company allow consumers to be more informed, with masses of information and imagery, all while being equipped with professional help that lends a comparative perspective on properties, and negotiates and advocates on their behalf.
For more information, visit the company’s website at www.eXpWorldHoldings.com
EXPI Announces Third Quarter Financial Results
Earlier today, eXp World Holdings, Inc. (OTCQB: EXPI) released its financial results for the third quarter of 2016. Among the highlights, the company achieved a 112 percent year-over-year increase in revenues, recording $15.6 million for the three-month period ended September 30. EXPI attributed this increase to the growth of its real estate division, eXp Realty, which now includes more than 2,130 real estate professionals across 41 states, the District of Columbia and Alberta, Canada. This total marks an increase of more than 150 percent from the end of Q3 2015.
In recent weeks, eXp Realty’s commitment to offering an unparalleled value proposition to its agents and brokers has helped it attract a number of high-profile professionals to its ranks. In October, the company announced the addition of Miguel Herrera, known as the top international luxury agent in all of South Texas, to the Agent-Owned Cloud Brokerage®. Other recent additions to the eXp Realty team include the Brent Gove Team, which was recognized as one of the top real estate teams in California; Darren James Real Estate Experts, which was ranked number one in the Gulf States region by REALTOR® for total production in both 2014 and 2015; and Burch & Co. Real Estate, which was ranked the top real estate firm in Northeast Arkansas in 2015.
“It continues to be gratifying to know that creating a cloud-based brokerage focused on the agent resonates so clearly that it is reflected in the continued high rate of growth in agent count and revenues,” Glenn Sanford, chairman and chief executive officer of EXPI, stated in the news release. “With this level of growth also comes the responsibility to manage that growth so it is sustainable over the long haul. Continually evaluating and investing in the infrastructure and tools necessary to support our growth and ensure scalability of eXp Realty’s business model is a top priority and is a commitment shared at all levels of the organization, from the board, senior leadership and other stakeholders.”
In addition to its revenue growth, EXPI successfully strengthened its cash position in the third quarter of 2016. The company reported cash and cash equivalents of $944,000 as of September 30, marking an increase of 110 percent from the comparable period of 2015. Total stockholder’s equity was also up an impressive 141 percent to $2 million at the close of Q3, which was a year-over-year increase of 141 percent.
Rounding out its latest financial release, EXPI reported a net loss attributable to common shareholders of $14.6 million for the three-month period. This loss was primarily attributable to a $14.1 million non-cash stock option compensation expense. The adjusted net loss attributable to common shareholders was reported at $559,000 for the quarter.
For more information, visit the company’s website at www.eXpWorldHoldings.com
EXPI Brokerage Passes 2,000-Agent Mark as More Members Join Every Day
Likely the fastest growing cloud-based brokerage in the United States, eXp Realty recently announced that it has passed the 2,000-agent mark as more and more real estate professionals are choosing to join its ranks every day. A subsidiary of eXp World Holdings, Inc. (OTCQB: EXPI), eXp Realty announced that it expanded its agent base to more than 2,000 members in a Twitter post a few days ago.
The Agent-Owned Cloud Brokerage™ reported having a total of 2014 agents at the end of October, and since then, dozens of new members have joined. This makes it very likely that the company will reach and even surpass its target of having 2,200 agents by the end of the year. In addition to the individual real estate agents that joined the brokerage over the last few days, several realty firms have also entered its ranks. The most recent addition is Arkansas’s number two realty firm, Burch & Co. Real Estate, which transitioned its entire team of 17 brokers and agents to eXp Realty. Before them, the Agent-Owned Cloud Brokerage™ was joined by leading Baton Rouge, Louisiana, firm Darren James Real Estate Experts; one of the top realty teams in California – Sacramento’s Brent Gove Team; and South Texas’s top international luxury agent, Miguel Herrera.
This accelerated growth is largely due to the business model proposed by eXp Realty, a model that has been continuously pushing the brokerage further and acted as the driving force behind its continued growth and that of its parent company, EXPI. eXp Realty is, first of all, a brokerage of the future, embracing the latest technologies and virtual and augmented reality advancements to create a tight-knit community of real estate professionals covering 41 states, the District of Columbia and Alberta, Canada. Its use of virtual reality and cloud-based platforms reflects a growing trend in the real estate market that’s expected to reach new heights in 2017, according to the annual PwC report ‘Emerging Trends in Real Estate®’ (http://nnw.fm/FQo7O). The analysis puts emphasis on the increased quality of service that augmented reality can bring and notes that experts expect up to $2.6 billion in real estate VR/AR applications by 2025.
As a fully cloud-based brokerage, eXp Realty conducts all its operations through a virtual reality platform, from agent training to lead generation, leadership meetings, exchanges of ideas and experience, IT services and many more. In addition to helping agents and brokers stay connected 24/7 from the comfort of their own homes, this model also eliminates all the expenses traditionally associated with owning and running a brick-and-mortar office, so brokerage members are able to provide more efficient services to their consumers and increase their own profit without spending too much out of pocket. Another attractive feature of the eXp Realty model is that it gives its members the opportunity to become owners through lucrative revenue sharing programs and by enabling them to become shareholders in exchange for their contributions to the company’s growth and development.
For more information, visit the company’s website at www.eXpWorldHoldings.com
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eXp World Holdings (EXPI) is the holding company for a number of businesses, most notably eXp Realty LLC, the Agent-Owned Cloud Brokerage™. eXp Realty is a 3D full-service real estate brokerage providing 24/7 access to a suite of collaborative tools, training features and socialization channels designed to meet the unique needs of real estate brokers and agents.
eXp World Holdings also owns 90.5% of First Cloud Mortgage, Inc. and is licensed to originate mortgages in Arizona, California, New Mexico and Texas.
Investment Highlights
Response to a Changing Market
The Internet has become the most powerful property marketing and advertising medium, and advances in Internet technology and the proliferation to the masses of information and imagery concerning residential properties (which before was exclusively available only to real estate brokers and agents) has created a real estate consumer armed with more knowledge, context and understanding than ever before.
Along with the growing independence it has instilled in the consumer, the utility of the brick and mortar office location is decreasing. As a natural and inevitable consequence, substantial and growing numbers of real estate professionals are exiting traditional brokerage models.
At the same time, the home buying and selling process remains unfamiliar and oftentimes emotional for consumers. As such, they still depend on real estate agents to help navigate the process, give insight into and lend a comparative perspective on properties, provide local market expertise, and negotiate and advocate on their behalf. Because of the magnitude of the buying or selling decision, the size of the asset that underlies that decision, and the emotional responses it frequently triggers, the vast majority of consumers will continue to rely upon agents and brokers for the foreseeable future, no matter how much information they have and whether real estate professionals are in a traditional office setting or not.
eXp Realty sees Opportunity in the Change
The greatest asset of any real estate brokerage is the group of agents and brokers who are a part of it. As such, eXp Realty's strategy is to add value to its agents and brokers and enable them to build their own businesses.
Employing a Cloud Office Environment, eXp Realty agents and brokers work, attend classes, strategize, collaborate, innovate, socialize, build teams, build unity and share experiences across geographic borders in a virtual manner.
As a cloud-based real estate brokerage eXp Realty has embraced and adopted a number of cloud-based technologies in order to grow an international brokerage without the burden of physical bricks and mortar and/or redundant staffing costs.
Through this business model, thousands of eXp Realty consumers leverage the company's Internet marketing and cloud technology and growing network of professional real estate professionals to find, buy or sell homes without ever stepping foot into a traditional real estate office.
The Business Model
eXp Realty has formed a strategic partnership with VirBELA, LLC, which used a $1.7 million grant from the University of California San Diego's Rady School of Management to develop and demonstrate the 3D virtual-reality campus environment utilized by eXp Realty.
VirBELA's virtual 3D immersive learning environments run on both MAC and PC and include voice and text chat systems, professional avatar customization, integrative collaborative web browsing, and a host of other communication, and basic and advanced collaboration features that fulfill the operational needs of eXp Realty's agents and brokers.
eXp Realty has exclusive rights to the VirBELA platform within the real estate industry, as well as an option to exclusive rights within several vertical industries, including mortgage origination, mortgage lending, title and escrow and title insurance.
With the creation of a fully immersive cloud office environment that eliminates the need for a brick and mortar real estate office, eXp Realty can effectively reduce real estate professionals' overhead costs, increase their profits, and enable greater service value to consumers.
The innovative platform works by enabling agents and brokers the opportunity to earn equity in exchange for production and contributions to eXp Realty's growth. This aggressive revenue sharing program pays agents a percentage of the gross commission income earned by fellow professionals they recruit into the company.
In addition, eXp Realty's Stock Compensation Plan and online lead generation program, Making it Rain, further benefit participating real estate professionals and provide eXp Realty additional cash inflows to continue to scale operations both from a talent and technology perspective.
The overarching result of these features is a shared ownership community comprised of a large and growing group of synergistic, collaborative forward-thinking entrepreneurial professionals that successfully meet the needs of today's real estate consumer.
Operational & Financial Growth
Since its launch in October 2009, eXp Realty has experienced rapid growth, with brokerage service now offered in 35 U.S. states and Alberta, Canada.
In February 2016, the company officially welcomed into its family of agent-owners its 1,000th real estate professional, up from just 467 agents at the end of 2014. Following this achievement, the Agent-Owned Cloud Brokerage claimed a spot among the top 50 real estate brokerages in the United States based on agent count, according to data from RISMEDIA's 2015 PowerBroker 500 Report.
Similarly, eXp Realty generated record financial results during 2015. Following the launch its online lead generation program and stock compensation plan, the company achieved a 71 percent year-over-year increase in net revenues, recording $22.87 million for the year (2015). As it continues to expand its footprint across North America, eXp Realty will look to leverage its unique agent-owned business model to continue attracting driven, entrepreneurial agents and real estate industry leaders while promoting sustainable financial growth.
Corporate Projections
Standing out in the Industry
Residential Real Estate Brokerage
Highly fragmented
Innovators are Valued by Venture Capital
Limited opportunity in the public company arena and no significant growth players outside eXp Realty
Leadership
eXp Realty's progressive approach is driven by a team of individuals highly specialized in their respective skillsets. With decades of combined experience and leadership, eXp Realty is advancing on its goal of being the first agent-owned, cloud-based, full service, global real estate brokerage company providing 24/7 access to collaborative tools and professional development for managing real estate brokers and agents.
GLENN SANFORD, FOUNDER & CEO
Since early 2002, Glenn Sanford has been actively involved in the online real estate space. In early 2007, Sanford launched BuyerTours Realty, LLC which, using a combination of web and traditional bricks and mortar, grew to three offices and into two states. After the drop off of the market in late 2008, Sanford and his executive team rewrote the entire business model in recognition of the "perfect storm" of lower revenues, fixed or rising overhead costs, and a consumer with more information and access than ever before. eXp Realty, LLC was launched in October 2009 as the first truly cloud-based national real estate brokerage, which meant giving up the traditional bricks and mortar environment and moving to a fully-immersive 3D virtual office environment where agents, brokers and staff collaborate across borders while learning and transacting business from anywhere in the world. In 2013, eXp Realty became a subsidiary of eXp Realty International Corp. Since that time eXp Realty has quickly grown to 31 states throughout the United States and Alberta Canada.
From 2005 to 2007, Sanford ran a large mega-agent team and consulted to Keller Williams International as a member of the Agent Technology Council in the areas of online client acquisition, client conversion and technology. Sanford was also a significant contributor to Keller Williams Internet Lead Generation Masterminds.
Prior to real estate, Sanford was active at the executive level with a number of technology-related companies. In 1998, Sanford founded and served as president for eShippers.com, an online e-commerce and logistics company.
JASON GESING, PRESIDENT
Jason Gesing became president of eXp Realty International Corporation in September 2013. Since that time the company has achieved annual growth at a rate which positions it as one of the fastest growing real estate brokerages in the United States.
As president of eXp Realty, Gesing is actively engaged in driving company growth while working with the rest of the eXp Realty executive team to ensure that systems, processes and infrastructure exist to support expansion. Gesing participates regularly in business model profitability discussions with owners of leading independent brokerages and others demonstrating the company's high-engagement, cloud-based model and its dramatic impact on cost, profitability and the synergies that exist when the agents and brokers of a publicly traded real estate brokerage are also its shareholders.
PETER NOBEL, COO
Dr. Peter Nobel joined the company as its COO on March 16, 2016. Prior to joining eXp, Dr. Nobel held various management positions in user research, program management, and data science at Microsoft Corporation for approximately 19 years. In this capacity, Dr. Nobel has consistently and effectively managed teams whose aim has been measuring and improving user experience, identifying gaps, and arriving at elegant solutions. The work ranged from the user interface of online financial web sites, to qualitative and quantitative feedback tools in the Windows and Office divisions. He managed various Scrum teams that designed and created analysis and reporting tools, dashboards to track metrics and KPIs, as well as analyzed Big Data sets to understand the levers of the Net Promoter Score. Dr. Nobel received a Master of Science (Highest Distinction) in 1989 from Tilburg University, the Netherlands, and a Doctor of Philosophy in Cognitive Science in 1996 from Indiana University.
ALAN GOLDMAN, CFO
Dr. Peter Nobel joined the company as its COO on March 16, 2016. Prior to joining eXp, Dr. Nobel held various management positions in user research, program management, and data science at Microsoft Corporation for approximately 19 years. In this capacity, Dr. Nobel has consistently and effectively managed teams whose aim has been measuring and improving user experience, identifying gaps, and arriving at elegant solutions. The work ranged from the user interface of online financial web sites, to qualitative and quantitative feedback tools in the Windows and Office divisions. He managed various Scrum teams that designed and created analysis and reporting tools, dashboards to track metrics and KPIs, as well as analyzed Big Data sets to understand the levers of the Net Promoter Score. Dr. Nobel received a Master of Science (Highest Distinction) in 1989 from Tilburg University, the Netherlands, and a Doctor of Philosophy in Cognitive Science in 1996 from Indiana University.
DARREN JACKLIN, BOARD OF DIRECTORS
For over 19 years, Darren Jacklin has traveled four continents and over 40 countries mentoring entrepreneurs and business owners on specific and measurable strategies that they can consistently use to increase their income, transform their obstacles into cash flow and turn their passion into profits.
His uncanny ability to increase wealth and success by uncovering hidden assets, overlooked opportunities and undervalued possibilities has captured the attention of Tiger 21, The Wall Street Journal, Yahoo Finance, NBC TV, CBS TV, Global TV international radio stations, magazines and newspapers, movie producers, best-selling authors, CEOs and business experts worldwide.
Jacklin currently sits on paid international boards of directors of public companies and advisory boards. Jacklin has personally trained over 150 Fortune 500 companies such as Microsoft, AT&T, Black & Decker, Barclays Bank, as well as high school, college, university students and professional athletes and has connected with people in more than 126 countries.
eXp World Holdings, Inc. 1321 King Street #1 Bellingham, WA 98229 Phone: (360) 389-2426 www.ExPRealty.com | QualityStocks 3370 N. Hayden Rd. Suite 123-591 Scottsdale, AZ 85251 Phone: (480) 374-1336 www.QualityStocks.net Editor@QualityStocks.net |
Please see disclaimers on the QualityStocks website http://qualitystocks.net/disclaimer.php
» | eXp Realty International Corp., formed in October 2009, is a cloud-based, full service national real estate brokerage company. Being cloud-based, eXp reduces the burden of bricks-and-mortar and redundant staffing costs, allowing real estate brokers to operate at significantly lower cost than traditional brokerages. |
» | Through a 3-D, fully-immersive, cloud campus environment, eXp provides all of the value added services (and more) offered by larger brokerages to its brokers and agents. Services include training, education, coaching, mentoring, transaction support, broker support, and technical support. |
» | eXp Realty surpassed 1,000 members (agents and brokers) in February 2016, and currently has 1,100+ members across 35 states in the U.S. eXp is currently among the top 50 real estate brokerages in the U.S. based on agent count. |
» | eXp’s members transacted over $889 million in real estate in 2015. The current annual run rate is $1.5 billion per year. The company’s goal is to have 1,800+ members by the end of 2016, and 3,500+ by the end of 2017. |
» | Revenues grew at a CAGR (compounded annual growth rate) of 53% from $4.20 million in 2011, to $22.87 million in 2015. Gross profits grew at 44% from $0.79 million in 2011 to $3.41 million in 2015. eXp generates positive free cash flows, and maintains a healthy balance sheet with no debt. |
MissionIR is a moderator of this board. Please see disclaimer on the MissionIR website: http://www.missionir.com/disclaimer.html
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