eXp World Holdings Expands Real Estate Operations Into Germany

Rhea-AI Summary

eXp World Holdings has expanded its operations by launching eXp Germany, marking its presence in 18 countries with over 62,000 agents globally. This move comes in response to significant growth in the EMEA region, particularly targeting Germany, which is the fourth-largest economy and a key player in the real estate market. The opening is part of eXp's strategy to enhance its international footprint and leverage its innovative cloud-based real estate platform to attract agents. Michael Valdes is leading this expansion, aiming for continued growth in global markets.

Positive

• Expansion into Germany enhances eXp's global footprint in a major real estate market.
• eXp operates in 18 countries with over 62,000 agents, indicating strong growth and market presence.
• The cloud-based platform and commission model offer unique benefits to agents, potentially attracting more talent.

Negative

• None.

One of the Fastest-growing Global Real Estate Companies Accelerates Its Footprint in the EMEA Region With the Opening of eXp Germany

BELLINGHAM, Wash., Aug. 31, 2021 (GLOBE NEWSWIRE) -- eXp World Holdings, Inc. (Nasdaq: EXPI), the holding company for eXp Realty, one of the fastest-growing real estate companies in the world, has expanded into Germany, under the eXp Germany banner. eXp now operates in 18 countries and territories with more than 62,000 agents across the globe.

eXp offers real estate agents a unique cloud-based work platform and a compelling commission model, which includes company equity. The agile and universally attractive model has allowed eXp to spread rapidly across the globe, opening five new countries in 2020, and nine new markets thus far in 2021, with the opening of Japan also planned for this year.

eXp Realty’s worldwide expansion is being led by Michael Valdes, President of eXp Global and an international real estate veteran with experience opening markets around the world.

“Our decision to enter the German market comes on the heels of unprecedented growth at eXp and reflects the momentum we are experiencing in the EMEA region and our ambitions for future growth,” said Valdes. “Germany is the fourth-largest economy in the world and the most populated country in Western Europe, making it one of the largest players in the real estate market. With a thriving presence in six European markets already, Germany was a natural next step for eXp, as we continue to bring our life-changing business model to agents around the world.”

eXp Germany’s brokerage operations will be led by Ilka Vietz, Managing Director, eXp Germany. Vietz has nearly 20 years of experience in the German market. She is a certified neuro-linguistic programming (NLP) coach and trainer, has headed regional real estate departments for various banks and worked successfully as a real estate agent herself.

“With the launch of eXp Germany, real estate brokers and agents will now be given the opportunity to build their businesses and generate a sustainable long-term income,” says Vietz. “eXp technology enables global collaboration that will revolutionize the brokerage landscape in Germany.”

Germany represents the second of three markets that eXp Global has identified for expansion in the third quarter of 2021, having opened Panama in July and Japan is slated to open later in the year. Puerto Rico, Brazil, Italy, Hong Kong, Colombia, Spain and Israel have already begun operations in the first two quarters of the year.

eXp Realty offers a unique financial model for residential and commercial real estate agents, going beyond commissions to provide its agents with an opportunity to earn additional income by helping the company to grow its revenue base anywhere in the world. Agents can also earn equity in eXp World Holdings stock for listing and selling activities. eXp’s cloud-based brokerage is powered by Virbela, the company’s immersive and collaborative 3D platform, enabling agents and staff 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, 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 62,000 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 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

Germany Media Relations Contact:
Arne Pflugrad
​​arne.pflugrad@publicimaging.de

Investor Relations Contact:
MZ Group – MZ North America
Investors@expworldholdings.com

An image accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/924575c6-d0ba-4c13-af06-1dea3caae9f2

FAQ

What is the significance of eXp's expansion into Germany?

eXp's expansion into Germany positions it in the fourth-largest economy and taps into a major real estate market, strengthening its global presence.

How many countries does eXp operate in as of the opening of eXp Germany?

eXp operates in 18 countries and territories worldwide, with over 62,000 agents.

Who is leading eXp's global expansion?

Michael Valdes is leading eXp's global expansion efforts, including the launch of eXp Germany.

What technology does eXp use for its brokerage operations?

eXp's brokerage operations are powered by a cloud-based platform called Virbela, which facilitates virtual collaboration and business communication.

What kind of commission model does eXp offer to agents?

eXp offers a compelling commission model that includes opportunities for agents to earn equity in the company, enhancing their long-term income potential.