eXp Continues Worldwide Expansion, Announces 3 New Locations for Second Quarter of 2021
eXp Realty plans to expand its operations into Colombia, Spain, and Israel by the end of June 2021. This follows successful launches in Puerto Rico and Brazil earlier this year, bringing the total to 16 countries. The company, which has seen a growth of over 60% in its agent base, now boasts more than 48,000 agents. eXp's President, Michael Valdes, highlighted the potential of these new markets and the strategic expansion into EMEA and CALA regions, driven by a unique financial model and a cloud-based brokerage platform.
- Plans to expand operations into Colombia, Spain, and Israel, increasing global presence to 16 countries.
- Agent base has grown by over 60%, reaching more than 48,000 agents worldwide.
- Strong growth prospects in rapidly developing markets like Colombia and Israel.
- None.
Company to Establish Operations in Colombia, Spain and Israel by the End of June 2021
BELLINGHAM, Wash., March 17, 2021 (GLOBE NEWSWIRE) -- eXp Realty, one of the fastest-growing, global real estate companies and a subsidiary of eXp World Holdings, Inc. (Nasdaq: EXPI), today announced plans to expand its real estate operations into Colombia, Spain and Israel in the second quarter of 2021. The announcement comes after successful launches in Puerto Rico and Brazil in the first months of 2021, with Italy and Hong Kong slated to open later in March. In 2020, eXp launched operations in South Africa, India, Mexico, France and Portugal. By the end of the second quarter, eXp Realty will have a presence in 16 countries, including its headquarters in the United States.
Throughout the past year, eXp continued to gain global market share by growing its agent base by more than
“As we look ahead to the second quarter of 2021, we are solidifying our footprint in the EMEA (Europe, Middle East and Africa) and CALA (Caribbean and Latin America) regions,” said Michael Valdes, President of eXp Global. “With the addition of Spain, we are continuing to expand our presence in Europe, with a strongly established eXp brand already launched in the UK, France, Portugal and Italy. Colombia is one of the fastest-growing economies in Latin America and we see incredible opportunities there. We are also excited about launching Israel, a country that has seen a recent surge in the real estate sector. We are thrilled to see the growth of our brand in these vibrant and historic markets, and we believe that our universally attractive model will continue to change communities around the world.”
As part of the expansion into the new markets, the company will hire experienced leaders in each country to head up local teams who will be responsible for agent operations and services.
eXp Realty offers a unique financial model for residential and commercial real estate agents. It goes beyond attractive commissions to provide its agents with an opportunity to earn additional income by helping to grow the company’s agent base globally and earn equity in eXp World Holdings, Inc. stock programs through 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, Virbela 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 48,000 agents in the United States, Canada, the United Kingdom, Australia, South Africa, India, Mexico, Portugal, France, Puerto Rico and Brazil 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:
MZ Group – MZ North America
investors@expworldholdings.com
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/a7b451f4-f4d5-4d68-bf59-967355bb875a
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