eXp Continues Global Expansion With Four New International Locations Planned for Early 2021
eXp Realty, a subsidiary of eXp World Holdings (Nasdaq: EXPI), will expand operations into Puerto Rico, Brazil, Italy, and Hong Kong by Q1 2021. This follows a successful 2020, where eXp grew its agent base by over 60%, totaling more than 41,000 agents across nine countries. The expansion aims to bolster eXp's global market share and introduce experienced local leaders in these new regions. eXp's unique financial model allows agents to earn equity in the company, enhancing its appeal as a cloud-based brokerage.
- Expansion into Puerto Rico, Brazil, Italy, and Hong Kong to enhance global presence.
- Agent base grew by over 60% in 2020, indicating strong market demand.
- More than 41,000 agents now represent eXp Realty, showcasing robust growth.
- Innovative financial model offering equity to agents, increasing retention and motivation.
- None.
Company to Establish Operations in Puerto Rico, Brazil, Italy and Hong Kong by the End of the First Quarter of 2021
BELLINGHAM, Wash., Jan. 07, 2021 (GLOBE NEWSWIRE) -- eXp Realty, one of the fastest-growing, global real estate companies and a subsidiary of eXp World Holdings (Nasdaq: EXPI), has announced plans to expand its real estate operations into Puerto Rico, Brazil, Italy and Hong Kong in the first quarter of 2021. In 2020, eXp launched operations in South Africa, India, Mexico, France and Portugal.
Throughout 2020, eXp continued to gain global market share by growing its agent base by more than
“The record revenue and transaction volume growth in 2020 was a direct result of our agent-centric, cloud-based brokerage that allowed us to add agents all over the world at an unprecedented pace,” said Michael Valdes, President of eXp Global. “As we look ahead in 2021, we expect to continue expanding throughout Europe--a key growth market -- while adding strong footholds in South America, Asia and the Caribbean.”
eXp Realty offers a unique financial model for residential and commercial real estate agents, going beyond attractive commissions to provide its agents with an opportunity to earn additional income by helping the company grow its agent base anywhere in the world and equity in eXp World Holdings, Inc. stock programs applied to listing and selling activities. eXp’s cloud-based brokerage is powered by Virbela, the company’s immersive and collaborative platform, which enables its agents to communicate, meet and conduct business in a virtual world.
About eXp World Holdings, Inc.
eXp World Holdings, Inc. (Nasdaq: EXPI) is the holding company for eXp Realty, eXp Commercial, Virbela, Showcase IDX and SUCCESS Enterprises.
eXp World Holdings and its global brokerage, eXp Realty, is one of the fastest-growing real estate tech companies in the world with more than 41,000 agents in the United States, Canada, the United Kingdom, Australia, South Africa, India, Mexico, Portugal and France and continues to scale internationally. As a publicly traded company, eXp World Holdings provides real estate professionals the unique opportunity to earn equity awards for production goals and contributions to overall company growth. eXp World Holdings and its businesses offer a full suite of brokerage and real estate tech solutions, including its innovative residential and commercial brokerage model, professional services, collaborative tools and personal development. The cloud-based brokerage is powered by an immersive 3D platform that is deeply social and collaborative, enabling agents to be more connected and productive.
For more information visit https://expworldholdings.com/
Safe Harbor Statement
The statements contained herein may include statements of future expectations and other forward-looking statements that are based on management’s current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. Such forward-looking statements speak only as of the date hereof, and the company undertakes no obligation to revise or update them. These statements include, but are not limited to, statements about the economic and social effects of the COVID-19 pandemic; continued growth of our agent and broker base; expansion of our residential real estate brokerage business into foreign markets; demand for remote working and distance learning solutions and virtual events; development of our new commercial brokerage and our ability to attract commercial real estate brokers; and revenue growth and financial performance. Such statements are not guarantees of future performance. Important factors that may cause actual results to differ materially and adversely from those expressed in forward-looking statements include changes in business or other market conditions; the difficulty of keeping expense growth at modest levels while increasing revenues; and other risks detailed from time to time in the company’s Securities and Exchange Commission filings, including but not limited to the most recently filed Quarterly Report on Form 10-Q and Annual Report on Form 10-K.
Media Relations Contact:
eXp World Holdings, Inc.
mediarelations@expworldholdings.com
Investor Relations Contact:
Greg Falesnik
MZ Group – MZ North America
investors@expworldholdings.com
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