eXp Realty Grows to 85,000 Real Estate Agents as Brokerage Continues Worldwide Expansion

Rhea-AI Summary

eXp Realty has surpassed 85,000 agents globally, marking a 30% increase from 65,286 agents in October 2021. This growth includes the onboarding of top-producing teams such as the Lawson Team and the Ige Johnson Group, reflecting eXp's appeal due to its competitive commission structure and innovative technology. The company has shown strong financial performance with significant transactions closed in 2021, including the Incorvaia Team's 731 transactions for $219 million. eXp Realty continues to expand internationally, asserting its position as the fastest-growing real estate brokerage.

Positive

• 85,000 agents globally, up 30% from 65,286 in Oct 2021.
• Onboarding of top-producing teams, enhancing market presence.
• Strong transactions reported, e.g., Incorvaia Team's 731 transactions for $219 million.

Negative

• None.

Milestone Reached as eXp Realty Readies to Host its Largest EXPCON Agent Conference, Oct. 11-14

BELLINGHAM, Wash., Oct. 10, 2022 (GLOBE NEWSWIRE) -- eXp Realty^®, the fastest-growing real estate brokerage on the planet and the core subsidiary of eXp World Holdings, Inc. (Nasdaq: EXPI), today announced it has exceeded 85,000 agents globally, representing an increase of 30% when compared to 65,286 agents at the start of October 2021.

This year, several top-producing teams have moved to eXp Realty, including the Park City, Utah-based Lawson Team of 15 agents led by David Lawson. The team moved from Engel & Völkers, where they were ranked No. 1 in North America for GCI in 2019 and 2021.

Another top-producing team joined from Houston, Texas. Ige Johnson Group moved 35 of the 50 top producing agents from RE/MAX to eXp Realty to benefit from its global reach, innovative technology and collaborative culture. In 2021, the brokerage closed 397 transactions for $93 million.

Also notable was the Incorvaia Team, which ranked No. 2 in Ohio for volume and moved 31 agents to eXp Realty after 16 years at Keller Williams. In 2021, the team closed 731 transactions for $219 million.

“Our compelling value and continuously evolving value proposition attracts top agents and teams from around the country and the world,” said Glenn Sanford, Founder, Chairman and CEO of eXp World Holdings. “Our competitive commission structure, unique revenue share opportunity and stock incentives are not only attractive, but they are also helping our agents grow their businesses in a challenging real estate market.”

Additional teams and agents who joined eXp Realty in 2022 include:

• Justin Watson and The Justin Watson Team in Orwigsburg, Pennsylvania
  Justin Watson, leader of The Justin Watson Team, brought eight agents to eXp Realty in September 2022. In 2021, the team closed 125 transactions for $22 million.
• Cory and Colby Meals of The Meals Team in Whitesboro and Sherman, Texas
  Cory and Colby Meals, leaders of The Meals Team, brought their team of 10 to eXp Realty in August 2022. In 2021, the team closed 190 transactions for $53 million.
• Michael Gillies and Gillies Team Real Estate in Stafford, Virginia
  Michael Gillies, leader of Gillies Team Real Estate, brought 16 agents to eXp Realty in June 2022. In 2021, the team closed 246 transactions for $117 million.
• Joseph and Charity Slawter and Live Well Home Group in Olympia, Washington
  Joseph and Charity Slawter, leaders of Live Well Home Group, brought 25 agents to eXp Realty in May 2022. On a 12-month rolling basis since September 2021, the team has closed 200 transactions for more than $100 million.
• Anthony Knight and the Knight Real Estate Group in Las Vegas, Nevada
  Anthony Knight, managing broker of the Knight Real Estate Group, brought 20 agents to eXp Realty in May 2022. In 2021, the team closed 390 transactions for $150 million.
• Patrick Allison and Allison Real Estate Group in Reno, Nevada
  Patrick Allison, leader of the Allison Real Estate Group, brought 23 agents to eXp Realty in May 2022. In 2021, the team closed 176 transactions for $76 million.
• Hania Habbal and Millennial Realty in Charlotte, North Carolina
  Hania Habbal, owner/operator of Millennial Realty, brought 20 agents to eXp Realty in April 2022. In 2021, the team closed 167 transactions for $63 million.
• Jennifer Viger and Market House Partners in Evans, Georgia
  Jennifer Viger, leader of Market House Partners, brought 13 agents to eXp Realty in April 2022. In 2021, the team closed 153 transactions for $40 million.
• Brette Davis and Davis & Main Real Estate in Holly Springs, North Carolina
  Brette Davis, owner of Davis & Main Real Estate, brought six agents to eXp Realty in March 2022. In 2021, the team closed 102 transactions for $36 million.
• Jonathan Campbell and the Don Wenner Team in Bethlehem, Pennsylvania
  Jonathan Campbell, vice president of the Don Wenner Team, brought 17 agents to eXp Realty in March 2022. In 2021, the team closed on 2,610 transactions for more than $550 million.
• Mathieu Arseneault and the GROUPE Elite Arseneault Team in Gatineau, Quebec
  Mathieu Arseneault, team leader of the GROUPE Elite Arseneault Team brought seven agents to eXp Realty in September 2022. In 2021, the team closed on approximately 400 transactions.
  
  

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 company in the world with more than 85,000 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, Germany, Dominican Republic, Greece, New Zealand and Chile 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 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:

Denise Garcia

investors@expworldholdings.com

 

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/75f7b4b0-1906-4fe2-aa6d-08e269b36809

 

FAQ

What is the current number of agents at eXp Realty as of October 2022?

eXp Realty has exceeded 85,000 agents globally as of October 2022.

How much did the Incorvaia Team close in transactions in 2021?

The Incorvaia Team closed 731 transactions for $219 million in 2021.

What significant teams joined eXp Realty in 2022?

Notable teams include the Lawson Team from Engel & Völkers and the Ige Johnson Group from RE/MAX.

What is the growth percentage of eXp Realty's agent base from 2021 to 2022?

eXp Realty's agent base grew by 30% from 2021 to 2022.

What competitive advantages does eXp Realty offer to agents?

eXp Realty offers a competitive commission structure, unique revenue share opportunities, and stock incentives.