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About eXp World Holdings, Inc. (Nasdaq: EXPI)
eXp World Holdings, Inc. is a global leader in cloud-based real estate brokerage services and virtual collaboration technologies. Operating in the United States, Canada, the United Kingdom, Australia, South Africa, France, India, Portugal, Mexico, and numerous other countries, the company has redefined traditional real estate practices by leveraging innovative technology platforms and a unique agent-centric business model.
Core Business Areas
The company's flagship subsidiary, eXp Realty, provides comprehensive residential and commercial real estate brokerage services. Unlike traditional brokerages that rely on physical offices, eXp Realty operates entirely in the cloud, enabling agents to connect, collaborate, and manage transactions through its proprietary virtual platform, eXp World. This approach significantly reduces overhead costs and enhances operational efficiency.
eXp World Holdings also owns and operates FrameVR.io, a cutting-edge virtual reality platform designed for immersive collaboration across industries, and SUCCESS® Enterprises, a personal and professional development brand anchored by the historic SUCCESS® Magazine.
Innovative Technology and Agent-Centric Model
At the heart of eXp's operations is its proprietary cloud-based platform, powered by FrameVR.io technology. This immersive 3D environment supports real estate agents with tools for training, collaboration, and transaction management, fostering a deeply social and productive virtual workspace. The platform eliminates the need for traditional brick-and-mortar offices, enabling agents to operate more efficiently while minimizing costs.
eXp Realty's agent-centric model further sets it apart. Agents benefit from competitive commission splits, equity awards for meeting production milestones, and access to a comprehensive suite of tools and resources. This approach has made eXp Realty one of the fastest-growing brokerages globally, with a network of over 87,000 agents across multiple continents.
Ancillary Services
Beyond brokerage services, eXp World Holdings offers a range of ancillary solutions, including title, escrow, and settlement services, as well as mortgage brokerage services. These offerings complement its core real estate operations, providing clients and agents with a seamless, end-to-end real estate experience.
Competitive Position and Market Impact
eXp World Holdings operates in a highly competitive landscape, facing traditional real estate firms and other tech-driven disruptors. Its unique combination of cloud-based operations, agent-centric incentives, and innovative technology platforms positions it as a significant player in the industry. By reducing the reliance on physical infrastructure and focusing on agent productivity and satisfaction, eXp has carved out a distinct niche in the market.
Global Reach and Scalability
With operations spanning over 20 countries and plans for further international expansion, eXp World Holdings continues to scale its business model globally. Its ability to replicate its cloud-based approach across diverse markets underscores its scalability and adaptability.
Conclusion
eXp World Holdings, Inc. represents a transformative force in the real estate industry, leveraging cloud-based technologies and a forward-thinking business model to deliver unparalleled value to agents, clients, and shareholders. Its innovative approach to brokerage services, combined with its commitment to agent success and technological advancement, solidifies its position as a leader in the evolving real estate landscape.
eXp Realty has been designated as the exclusive brokerage for Bundle Select, a platform providing real estate benefits. This partnership will enhance service for Bundle Select's network of 250 companies and 6.8 million employees, facilitating seamless real estate transactions. eXp Realty's relocation team aims to support these employees with comprehensive real estate services. The goal is to expand the service to 32 million employees by 2023 and 50 million by 2025, leveraging eXp's innovative technology and extensive agent network.
eXp Commercial, part of eXp World Holdings (Nasdaq: EXPI), will hold its Commercial Real Estate Symposium on April 25-26, 2022, in the eXp Commercial Campus metaverse. The free event aims to connect industry leaders to discuss big data, pandemic impacts, international opportunities, and cryptocurrency in commercial real estate. Featured speakers include experts from Red Shoe Economics, Shark Tank, and Virbela. Attendees can register online for insights into evolving real estate trends and strategies.
eXp World Holdings, the parent company of eXp Realty, announced that CEO Glenn Sanford and CFO Jeff Whiteside will participate in a fireside chat on March 3, 2022, at the 2022 Wedbush Real Estate Technology Conference.
The event, moderated by equity research analyst Ygal Arounian, starts at 9 a.m. ET. For those interested, the webcast is available at this link.
eXp World Holdings (Nasdaq: EXPI) reported record financial results for 2021, with revenue soaring 110% to $3.8 billion and net income rising 162% to $81.2 million. The fourth quarter also saw impressive growth with revenue up 77% to $1.1 billion. Notably, the company increased its agent count by 72% to 71,137, closing 444,367 real estate transactions, a rise of 86%. A cash dividend of $0.04 per share for Q1 2022 was declared, to be paid on March 31, 2022. The company is expanding globally, with plans to grow in new markets such as Greece and New Zealand.
eXp World Holdings (Nasdaq: EXPI) will release its Q4 and full-year 2021 financial results on February 24, 2022. A virtual fireside chat and investor Q&A will follow at 8:30 a.m. PT, featuring Founder and CEO Glenn Sanford and CFO Jeff Whiteside. The event is accessible to all interested parties and aims to provide insights into eXp Realty's growth and operations, including opportunities for agents to earn equity and its innovative brokerage model powered by Virbela.
eXp Commercial, the commercial real estate arm of eXp World Holdings (Nasdaq: EXPI), has appointed KC Conway as an economic advisor to enhance its research and analytics capabilities. Conway, an expert in commercial real estate, will provide valuable insights on capital markets and regulatory changes, aiding agents and clients in navigating the evolving market. This collaboration aims to strengthen eXp Commercial's growth strategy, particularly in leveraging opportunities within traditional and digital real estate sectors, including the metaverse.
eXp Realty, a subsidiary of eXp World Holdings (Nasdaq: EXPI), has surpassed 75,000 agents globally, marking a significant 60% year-over-year growth from 46,745 agents in February 2021. This achievement follows eXp's recognition as one of Glassdoor’s Best Places to Work for five consecutive years. Additionally, eXp has expanded into the Dominican Republic, increasing its operational footprint to 19 countries. Founder Glenn Sanford highlighted their innovative agent-centric business model as key to their rapid expansion.
eXp Realty has expanded its operations into the Dominican Republic, marking its presence in 19 countries with over 73,000 agents globally. Marbel Lugo, a veteran in real estate with over 20 years of experience, will lead the new operations. The decision comes amidst strong interest from local agents, underpinned by the Dominican Republic's robust housing market fueled by tourism and investment incentives. The move is part of eXp's aggressive international growth strategy, with additional markets in Greece and New Zealand planned for early 2022.
eXp World Holdings (Nasdaq: EXPI) has appointed Jairek Robbins as president of SUCCESS Enterprises, marking a new era as the company celebrates its 125-year anniversary. Robbins, a noted coach and speaker, aims to enhance personal and professional development through SUCCESS's innovative media and coaching platforms. His experience includes training for prestigious institutions and organizations such as Harvard and the U.S. military. The announcement aligns with eXp's vision to empower professionals, leveraging advanced technology for impactful growth solutions.
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.
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