eXp Continues Global Expansion With Three New International Locations Planned in First Quarter of 2022

Rhea-AI Summary

eXp Realty announced plans to expand its brokerage operations into the Dominican Republic, Greece, and New Zealand in Q1 2022. This follows a successful launch in nine markets in 2021, bringing its total presence to 21 countries. eXp Realty experienced a remarkable 97% revenue growth to a record $1.1 billion in Q3 2021. The expansion aims to enhance its strategic footprint across various regions, addressing high market demand and capitalizing on local economic growth. The company plans to hire leaders in each new market to drive local operations.

Positive

• Expansion into high-demand international markets: Dominican Republic, Greece, New Zealand.
• Revenue growth of 97% to $1.1 billion in Q3 2021.
• Plans to hire experienced leaders in new markets to enhance local operations.

Negative

• None.

Company to Establish Real Estate Brokerage Operations in the Dominican Republic, Greece and New Zealand

BELLINGHAM, Wash., Jan. 20, 2022 (GLOBE NEWSWIRE) -- eXp Realty^®, the fastest-growing global real estate brokerage in the world and the core subsidiary of eXp World Holdings, Inc. (Nasdaq: EXPI), today announced plans to expand its real estate operations into the Dominican Republic, Greece and New Zealand in the first quarter of 2022.

This announcement follows successful launches of nine new markets in 2021, including Puerto Rico, Brazil, Italy, Hong Kong, Colombia, Spain, Israel, Panama and Germany. By the end of the first quarter of 2022, eXp Realty expects to have a presence in 21 countries, including its headquarters in the United States.

Throughout the past year, eXp continued to gain global market share. eXp Realty has over 72,000 agents globally and grew revenue by 97% to a record $1.1 billion in the third quarter of 2021.

“We’ve continued to expand globally at a steadfast pace,” said Michael Valdes, President of eXp Global. “There continues to be high demand for what eXp brings to the international real estate market. With the addition of the Dominican Republic, Greece and New Zealand, we continue to solidify our strategic footprint across the EMEA, CALA and APAC regions. The Dominican Republic has, in the last three decades, experienced a period of remarkable economic growth, leading all countries in the Caribbean and Latin America region. Greece is a vibrant market with strong economic projections driven by tourism, excellent foreign investment opportunities, and the Greece 2.0 recovery fund. The country is a key component to our growth on the continent, joining the UK, France, Portugal, Italy, Spain and Germany.

“Additionally, New Zealand boasts a property market with extremely high demand and benefits from the close connection to Australia, where eXp already has a strong market presence.”

As part of the expansion into the new markets, eXp will hire experienced leaders in each country to head up local teams who will be responsible for agent operations and services.

About eXp World Holdings, Inc.

eXp World Holdings, Inc. (Nasdaq: EXPI) is the holding company for eXp Realty^®, Virbela and SUCCESS^® Enterprises.

eXp Realty is the fastest-growing real estate tech company in the world with more than 72,000 agents in the United States, Canada, the United Kingdom, Australia, South Africa, India, Mexico, Portugal, France, Puerto Rico, Brazil, Italy, Hong Kong, Colombia, Spain, Israel, Panama and Germany, 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 Virbela, an immersive 3D platform that is deeply social and collaborative, enabling agents to be more connected and productive. SUCCESS^® Enterprises, anchored by SUCCESS^® magazine and its related media properties, was established in 1897 and is a leading personal and professional development brand and publication.

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 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 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:
MZ Group – MZ North America
investors@expworldholdings.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/50a793bd-b934-4a97-8ea5-aa413f0c8e3c

FAQ

What new markets is eXp Realty expanding into in 2022?

eXp Realty is expanding into the Dominican Republic, Greece, and New Zealand.

What was eXp Realty's revenue growth in Q3 2021?

eXp Realty experienced a 97% revenue growth, reaching a record $1.1 billion in Q3 2021.

How many countries does eXp Realty operate in as of early 2022?

By the end of Q1 2022, eXp Realty expects to operate in 21 countries.

Who will lead eXp Realty's operations in the new markets?

eXp Realty plans to hire experienced leaders in each new country to manage local teams and operations.