eXp to Expand Global Footprint

Rhea-AI Summary

eXp, a rapidly growing global residential real estate company and a subsidiary of eXp World Holdings (Nasdaq: EXPI), announced its intention to expand operations into France, India, Mexico, Portugal, and South Africa by the end of 2020. With over 32,000 agents across key markets like the U.S., Canada, and the U.K., the company aims to establish a strong international presence. The choice of these countries reflects their vibrant real estate markets, providing a strategic foothold for future growth. eXp continues to innovate by offering technology tools and opportunities for agents to earn stock in the company.

Positive

• Expansion into five new countries enhances international market presence.
• Strong existing agent base of over 32,000 supports growth potential.
• Opportunity for agents to earn stock aligns incentives with company performance.

Negative

• None.

BELLINGHAM, Wash., Aug. 06, 2020 (GLOBE NEWSWIRE) -- eXp, one of the fastest-growing, global residential real estate companies and a subsidiary of eXp World Holdings (Nasdaq: EXPI), today announced it intends to expand real estate operations to France, India, Mexico, Portugal and South Africa by the end of 2020.

eXp already has established market share with more than 32,000 agents across the United States, Canada, the United Kingdom and Australia. With expansion into new countries, the company will bring on experienced local teams in each country to lead agent operations and services.

“We’ve seen the eXp model received with such enthusiasm globally and we are excited to announce that we plan to have these five countries open before year end,” said eXp’s EVP of International Expansion Michael Valdes. “These countries were selected for their vibrant real estate market and geographic locations, creating a strategic foothold that will serve as an anchor for our continued growth next year and beyond.”

Innovation is part of eXp’s culture. For agents, eXp offers a range of technology tools and services as well as education and training to help its agents grow their business. As a subsidiary of a publicly traded company, eXp World Holdings, eXp uniquely offers real estate professionals within its ranks opportunities to earn stock for production and contributions to overall company growth.

About eXp
eXp is an eXp World Holdings, Inc. (Nasdaq: EXPI) company. eXp World Holdings also owns Showcase IDX and VirBELA.

eXp, The Real Estate Cloud Brokerage, is one of the fastest-growing, global residential real estate companies with more than 32,000 agents in the United States, Canada, the United Kingdom and Australia. As a subsidiary of a publicly traded company, eXp uniquely offers real estate professionals within its ranks opportunities to earn eXp World Holdings stock for production and contributions to overall company growth.

Showcase IDX is the leading real estate search technology company in the United States that helps agents market and grow their businesses and online presence. Showcase IDX’s services include property search for online and mobile platforms, lead generation, state-of-the-art mapping, and CRM tools and integration.

VirBELA is an immersive technology platform for business, events and education. Its modern, cloud-based environment provides a virtual experience for workers, attendees, students and more to communicate, collaborate, meet and socialize. For more information, visit the company’s website at virbela.com.

Connect with eXp World Holdings and its companies: https://expworldholdings.com/social

Media Relations Contact:
Cynthia Nowak
Vice president, marketing and communications, eXp World Holdings
360.419.5285 ext. 116
cynthia.nowak@exprealty.net

Investor Relations Contact:
Raymond “RJ” Jones
Executive Vice President, finance and growth, eXp World Holdings
360.761.4393
investors@expworldholdings.com

FAQ

What is eXp's plan for international expansion?

eXp plans to expand its real estate operations to France, India, Mexico, Portugal, and South Africa by the end of 2020.

How many agents does eXp currently have?

eXp currently has more than 32,000 agents across the United States, Canada, the United Kingdom, and Australia.

Why did eXp choose these specific countries for expansion?

These countries were selected due to their vibrant real estate markets and geographic locations, offering strategic footholds for continued growth.

What opportunities does eXp provide for its agents?

eXp offers technology tools, services, education, and the opportunity to earn stock for their production and contributions.

What is the stock symbol for eXp World Holdings?

The stock symbol for eXp World Holdings is EXPI.