Wednesday, October 26, 2016 9:16:45 AM
Continuing its already significant growth rate, eXp Realty, the real estate brokerage division of eXp World Holdings, Inc. (OTCQB: EXPI), has expanded its agent base to more than 1,900 professionals, reporting a 151% increase in agent count, as compared to the third quarter of 2015. If it continues to expand at the same rate, it is very likely that the Agent-Owned Cloud Brokerage® will hit the 2,200-agent mark by the end of the year.
The company has been experiencing accelerated growth since the beginning of the year, expanding both its agent base and its coverage. With only 864 agents on January 1, it reached 1,500 agents in early August and now has 1,900 professionals across 41 markets in the U.S. and Canada – more specifically covering 41 states, the District of Columbia and Alberta, Canada. According to a company press release, the brokerage had 1,816 real estate professionals at the end of the third quarter, compared to 721 agents at the end of Q3 2015, marking an increase of over 151%. Earlier this month, it added its 1,900th agent.
This exponential growth rate is the direct results of eXp Realty’s unique business model. Unlike most competitors that concentrate their activity around a brick and mortar office, eXp’s commercial and residential brokerage relies heavily on cloud-based technologies and an advanced virtual reality platform to build an online community of real estate professionals. The platform allows for a wide range of operations, including agent training, lead generation, IT services, leadership meetings and more. Agents can meet in this virtual reality space to share experiences, exchange ideas with other agents, take online real estate classes and even play a game of virtual soccer.
In addition, the eXp Realty model is based on the idea that all agents should also have the possibility of being owners, so the brokerage offers its members access to lucrative revenue sharing programs and the opportunity to become shareholders based on their contributions to company growth. Since everything is done online, from the comfort of one’s home, agents can provide more efficient service and increase their profit with a lower risk, without having to worry about franchise and desk fees or similar expenses.
This system has allowed for a massive increase in the number of agents, but also for record revenue for eXp World Holdings in the first two quarters of the year, including more than $7 million in the first quarter and $13 million in the second. The financial figures for Q3 have not yet been released. According to eXp Realty CEO Jason Gesing, this growth rate shows that the company has become the brokerage of choice for agents and teams, as well as for brokerage owners that want to increase their profit. He also said his company was very happy with the quality of the real estate professionals who are joining the organization.
For more information, visit the company’s website at www.eXpWorldHoldings.com
Recent EXPI News
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 09/25/2024 07:26:19 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 09/24/2024 08:09:13 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 09/20/2024 10:32:54 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 09/19/2024 09:39:32 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 09/19/2024 08:03:35 PM
- Westchester Powerhouse Grand Lux Realty Joins Forces With eXp Realty to Supercharge Growth and Innovation • GlobeNewswire Inc. • 09/19/2024 04:00:00 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 09/18/2024 08:10:16 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 09/17/2024 08:16:52 PM
- eXp Realty To Host Groundbreaking Hackathon Using OpenAI’s Technology at eXpcon Miami • GlobeNewswire Inc. • 09/16/2024 04:00:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 09/12/2024 03:29:56 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 09/11/2024 08:31:57 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 09/10/2024 08:27:19 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 09/05/2024 05:22:27 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 09/04/2024 08:40:32 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 09/03/2024 08:22:25 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 09/03/2024 08:02:15 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/28/2024 09:26:51 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 08/28/2024 08:35:44 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 08/27/2024 08:29:21 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/22/2024 01:16:50 AM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 08/21/2024 08:40:59 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 08/20/2024 08:25:08 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/15/2024 11:03:58 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 08/14/2024 08:14:32 PM
- Form 4/A - Statement of changes in beneficial ownership of securities: [Amend] • Edgar (US Regulatory) • 08/14/2024 05:21:28 PM
Lingerie Fighting Championships Signs Broadcast Deal With Maybacks Global Entertainment • BOTY • Sep 26, 2024 9:00 AM
Maybacks Global Entertainment and Lingerie Fighting Championships Enter Into Broadcast And Revenue Sharing Agreement • AHRO • Sep 26, 2024 8:30 AM
North Bay Resources Commences Operations at Bishop Gold Mill, Inyo County, California; Engages Sabean Group Management Consulting • NBRI • Sep 25, 2024 9:15 AM
CEO David B. Dorwart Anticipates a Bright Future at Good Gaming Inc. Through His Most Recent Shareholder Update • GMER • Sep 25, 2024 8:30 AM
Cannabix Technologies and Omega Laboratories Inc. Advance Marijuana Breathalyzer Technology - Dr. Bruce Goldberger to Present at Society of Forensic Toxicologists Conference • BLOZF • Sep 24, 2024 8:50 AM
Integrated Ventures, Inc Announces Strategic Partnership For GLP-1 (Semaglutide) Procurement Through MedWell USA, LLC. • INTV • Sep 24, 2024 8:45 AM