eXp Realty Opens Brokerage Operations in the Dominican Republic
BELLINGHAM, Wash. — Feb. 8, 2022 — eXp Realty®, the fastest-growing global real estate brokerage and the core subsidiary of eXp World Holdings, Inc. (Nasdaq: EXPI), has expanded into the Dominican Republic. eXp Realty now operates in 19 countries with over 73,000 agents around the world.
eXp’s real estate brokerage operations in the Dominican Republic will be led by Marbel Lugo, who brings more than 20 years of experience in real estate investment, consulting and development. Lugo is a pioneer in the Dominican Republic real estate industry as a Board member of the Association of Real Estate Agents, author, and the first real estate coach in the country.
“As we continue to gain traction in the Caribbean and Latin American markets, we have had significant interest from agents in the Dominican Republic and feel it’s a perfect next step in expanding our footprint,” said Michael Valdes, President of eXp Global who is responsible for eXp Realty’s worldwide expansion. “With a strong residential property market driven by tourism, easy international access and attractive incentives for foreign investment, the Dominican Republic is an ideal market to expand our growing brand.”
eXp Realty’s agile cloud-based work platform has allowed it to expand rapidly across the globe, opening 14 new markets over the past two years. The Dominican Republic represents the first of three markets that eXp Global has identified for expansion in the first quarter of 2022. Greece and New Zealand are slated to open later in the quarter.
“eXp is transforming the real estate industry, and with new operations in the Dominican Republic, we will improve the lives and businesses of real estate agents by providing new tools and growth opportunities,” said Lugo. “Together, we will bring the future of real estate to our agents in the Dominican Republic through eXp Realty’s unique model, while also offering faster and more efficient services to homebuyers and sellers.”
eXp Realty’s financial model for residential real estate agents offers an attractive commission structure, providing agents with an opportunity to earn additional income by helping to grow the company’s agent base globally, and earn equity in the company through listing and selling activities. eXp Realty’s cloud-based brokerage is powered by Virbela, the company’s immersive and collaborative virtual platform, which enables its agents to communicate, meet and conduct business in the metaverse.
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 73,000 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 and the Dominican Republic 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; demand for remote working and distance learning solutions and virtual events; development of our 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.
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Chief Marketing Officer, eXp Realty
Carolyn Merchant brings nearly 20 years of marketing, brand and communications experience with a proven track record of driving business growth. Prior to joining eXp, Merchant led global brand and communications at Colliers. Earlier in her career, Merchant worked at Aimia, a marketing and loyalty analytics firm, as well as communications marketing agencies including Edelman where she delivered award-winning client campaigns.
Founder, Chairman and CEO, eXp World Holdings
CEO, eXp Realty
Since early 2002, Glenn Sanford has been actively involved in the online real estate space. In early 2007, Glenn launched BuyerTours Realty, LLC which, using a combination of web and traditional bricks and mortar, grew to three offices and into two states. After the drop off of the market in late 2008, Glenn and his executive team went back and rewrote the entire business model in recognition of the “perfect storm” of lower revenues, fixed or rising overhead costs, and a consumer with more information and access than ever before. eXp Realty, LLC was launched in October 2009 as the first truly cloud-based national real estate brokerage which meant giving up the traditional bricks and mortar environment and moving to a fully-immersive 3D virtual office environment where agents, brokers and staff collaborate across borders while learning and transacting business from anywhere in the world. In 2013, eXp Realty became a subsidiary of eXp Realty International Corp.
From 2004 to 2007, Glenn ran a large mega-agent team and consulted to Keller Williams International as a member of the Agent Technology Council in the areas of online client acquisition, client conversion and technology. Glenn also was a significant contributor to Keller Williams Internet Lead Generation Masterminds.
Prior to real estate, Glenn was active at the executive level with a number of technology-related companies. In 1998, he founded and served as President for eShippers.com, an online e-commerce and logistics company.
Ms. Pelosi has more than 20 years of experience as a sales and network development professional and 15 years of experience as a corporate social responsibility and sustainability practitioner. Currently, Ms. Pelosi serves as the founding partner and strategic advisor of Orenda Social Purpose, positions she has held since September 2005. Since 2015, she has also served as the Executive Director of Innovators Alliance, a network of CEOs focused on sustainable and profitable growth through innovation. Prior to her career and academic work in corporate social responsibility and sustainability, Ms. Pelosi served as a member of USANA Health Sciences, Inc.'s (“USANA”) management team, first as Executive Director of Sales for Canada from 1999 until 2000 and then as Vice President of Network Development from 2000 until 2004. Since 2018, Ms. Pelosi has served as a member of USANA's Board of Directors and currently serves on USANA's Audit Committee, Compensation Committee, Governance, Risk & Nominating Committee, and serves as Chair of the Sustainability Committee.
Ms. Pelosi has received a graduate diploma from St. Michael’s College at the University of Toronto in Corporate Social Responsibility & Sustainability, and has completed the NACD Directorship Certification (NACD.CD) and the ESG Competent Boards Director Certification (GCB.D).
CFO, Chief Collaboration Officer, eXp World Holdings
As the Chief Financial & Collaboration Officer, Jeff works closely with Glenn across EXPI and the teams in Realty, finance, technology, marketing, legal, human resources, new business development/M&A, international markets, investor relations, and VirBELA.
He has more than 30 years of experience in global finance and operational leadership including executive positions at General Electric, CommerceHub, Pitney Bowes Software, and RM Sotheby’s Auctions.
CIO, eXp World Holdings
Shoeb Ansari serves as eXp Holding’s Chief Information Officer, as an accomplished software executive with an exceptional track record of building large scale product delivery organizations including product management, engineering, information technology, and information security for SaaS for private equity-owned and publicly traded enterprise software companies.
Chief Marketing Officer, eXp World Holdings
As Chief Marketing Officer, Courtney is responsible for amplifying the eXp World Holdings’ brands and overseeing all areas of marketing, including driving digital strategy for growth and enhancing eXp’s value proposition. A recognized thought leader in consumer lending, housing and digital transformation, Courtney was named a HousingWire Rising Star in 2016 and a Woman of Influence in 2019. Courtney has over two decades of marketing and innovation experience and has held various leadership roles at Roostify, CoreLogic and General Electric.
Chief Counsel and Corporate Secretary, eXp World Holdings
James Bramble is an authority in real estate law, a leader in the housing industry and advocate for acting with integrity. As eXp World Holdings Chief Legal Counsel, General Counsel and Corporate Secretary, James oversees the company’s legal affairs, including corporate governance, litigation and compliance. James has over 20 years of international business experience and has transformed eXp’s legal and compliance functions to empower an agent-centric, globally-scaled organization. James champions eXtend a Hand, eXp’s charitable foundation and is an active member of the Association of Corporate Counsel (ACC) and is a licensed real estate agent.
Chief Accounting Officer, eXp World Holdings
Kent is responsible for leading and developing the organization’s global accounting, finance practices and procedures. He also ensures the preparation and analysis of all financial reports comply with all applicable regulations. These vital financial functions enable eXp to continue its rapid growth trajectory and quickly expand its international footprint. He has decades of finance expertise in global finance, accounting and information technology functions in large, complex and geographically dispersed multi-billion-dollar international businesses.
President, eXp World Technologies
Alex founded VirBELA, a social virtual reality platform focused on education and team development with clients in various industries from government to retail. The VirBELA team developed eXp Realty’s cloud-based campus, called eXp World. eXp World Holdings, eXp Realty’s parent company, acquired VirBELA’s core group of products and services in November 2018.
As President of eXp World Technologies, an eXp World Holdings company, Alex leads the development of VirBELA’s products and services to expand the offering to agents, teams and others who could benefit from their own, always-available environments for collaboration.
In the development of VirBELA, Alex was awarded financial support from the Graduate Management Admissions Council, the National Science Foundation, the National Institute of Health, the Laura Arrillaga-Andreessen Foundation and the American Psychological Association to support some of innovations and research.
Alex has a bachelors in organization psychology from Providence College and a doctorate in philosophy from Alliant International University, San Diego Scripps Ranch.
Chief Industry Relations Officer, eXp World Holdings
Jason is Chief Industry Relations Officer for eXp World Holdings and a member of its Board of Directors. In this role he is focused on facilitating the company’s growth across key sectors, as well as industry relations, metaverse advisory and environment, social, governance (ESG) initiatives.
Since joining the company in 2010, Jason has been a critical part of eXp both as an executive leader and long-standing board member. During his tenure, most recently as CEO of eXp Realty, he helped establish eXp as one of the fastest-growing real estate companies.
President, U.S. Growth eXp Realty
As Co-President, Dave leads the U.S. growth and onboarding teams. Dave has more than 18 years of experience in the real estate industry. He was an owner/partner of multiple Keller Williams Realty market centers throughout the Mid-Atlantic and led one of the regions to No. 1 in the company for growth within three years. He also was one of the top recruiters at the company for nine years. At Long & Foster Companies, Dave developed professional and leadership training for sales managers and agents.
President, U.S. Brokerage Operations eXp Realty
Stacey has more than 19 years of real estate industry experience, and also is a professional speaker, trainer and certified continuing education instructor. Most recently, she was a designated broker and regional manager at a national real estate brokerage, overseeing more than 2,500 agents.
At eXp Realty, Stacey is responsible for eXp Realty U.S. brokerage operations, including compliance, risk management and state license laws.
Chief Growth Officer, eXp Realty
Michael Valdes brings more than 25 years of expertise in global real estate and finance to eXp Realty. Most recently, he was Senior Vice President of Global Servicing for all Realogy Corporation brands, including Better Homes & Gardens, Century 21, Coldwell Banker, Corcoran, ERA and Sotheby’s International Realty. In his role, he oversaw the international servicing platform for all Realogy brands across more than 100 countries and opened more than 70 countries during his tenure.
Chief Operating Officer
Patrick is the Chief Operating Officer of eXp Realty. He brings more than 25 years of experience and a proven track record of building and optimizing high-growth technology businesses.
Before joining eXp Realty, he was CTO for Xome, LLC a subsidiary of the Mr. Cooper Group. Prior to Xome, Patrick was SVP, Product Management for Travel Leaders Group. Earlier in his career, O’Neill was appointed COO of Guestlogix, Inc, and he held several senior positions at Sabre, Inc and Continental Airlines, Inc.
Dan has more than 10 years of experience managing public and private equity investments across a variety of industries. Currently, he is the Chief Executive Officer and Chief Investment Officer of Amherst Ave Capital. Previously, he was the portfolio manager at Long Light Capital and a member of the investment teams at Ziff Brothers Investments and Madrone Capital Partners. Dan began his career with Bain & Co., where he advised Fortune 500 and private equity clients on M&A, growth and efficiency initiatives.
Dan holds a Bachelor of Arts in Economics, summa cum laude, from Claremont McKenna College and holds a Master of Business from the Harvard Business School, where he graduated with distinction.
After serving as Controller for Texas Instruments, in 1984 Gene left the corporate world for a career in Real Estate. He first sold for two small companies that were bought out by Coldwell Banker. Three years later he joined Re/Max, and soared to become one of the Top 20 Realtors in Texas. In 1989, Gene started Phoenix-based Realty Executives in Dallas, TX. In 1994 he sold this franchise and hired on with Keller Williams in Dallas as one of the first 10 agents at the Dallas Preston Road Market Center.
Gene has extensive management experience in residential real estate. Prior to joining eXp Realty, LLC., and his appointment to the eXp Board of Directors, he had served over the past two decades in various management capacities at Keller Williams. Among his many accomplishments during his tenure with Keller Williams began when Gene and his wife, Susan, became Team Leaders of the Dallas Preston Road Market Center in 1999 -2006 and grew that office from 100 to 533 agents! Both Gene and Susan were installed into the Keller Williams Team Leader Hall of Fame in 2009.
Gene was the top Team Leader for Keller Williams in recruiting for 4 of the last 11 years, including 2005, 2006, 2012, and 2013. Gene served with Keller Williams most recently out of the Austin NW Market Center as Team Leader, where he grew the office from 320 agents to 641 in 4 years! Prior to that Gene was Regional Director of Keller Williams Virginia from 2007-2009 where he was #1 Nationally in franchise sales for 2007 and 2008.
Gene and Susan currently reside in Austin, Texas, have 5 grown children and 4 grandchildren.
Monica is a top-producing eXp Realty agent who is dual-licensed in Ohio and Kentucky. She is a former member of the eXp Realty Agent Advisory Council and has a coaching business, “My Coach Monica.” She brings broad experience to the Board courtesy of an outstanding executive career in radio advertising. Prior to joining eXp in 2017, she was the team leader for a major brokerage in the Cincinnati area. A graduate of Denison University, Monica holds a degree in communications and psychology.
Director | World-Class Speaker | Business/Real Estate Investor | Philanthropist
For over 25 years, Darren Jacklin has travelled 4 continents and personally trained and developed over 1 million people in over 50 countries.
He has mentored entrepreneurs and business owners on specific and measurable strategies. These strategies have then been implemented into businesses to increase income, transform obstacles into cash flow and turn passion into profits. Darren has an uncanny ability to increase wealth and success by uncovering hidden assets, overlooked opportunities and undervalued possibilities.
His talent has captured the attention of Tiger 21, Family Offices, Royal Family Offices, The Wall Street Journal, Yahoo Finance, NBC TV, CBS TV, CTV, CBC, Global TV, international radio stations, magazines and newspapers, movie producers, best-selling authors, CEO’s and business experts worldwide.
Darren Jacklin currently sits on paid international boards of directors and advisory boards of public and private companies internationally.
He has also personally trained 157 Fortune 500 companies such as Microsoft, AT&T, Black & Decker, Barclays Bank, as well as high school, college, and university students and lastly, professional athletes.
Passionate about making a difference in people’s lives, today, Darren also contributes time to his Global Philanthropy Foundation called Leaders Yielding to New Knowledge (LY2NK) to support the new LY2NK Leadership Academy sustainable schools in the slums of Liberia, West Africa and Uganda, East Africa.
For over 25 years Mr. Miles has held senior leadership positions in global financial services, financial technology and investment banking companies. His extensive investment banking background at bulge bracket, regional and boutique firms advising financial services companies on strategic and financial needs has crossed many disciplines. Mr. Miles’ transactional and advisory experience is complemented by leadership of public and private equity backed financial technology, specialty finance and software companies including Chairman and CEO at LIONMTS where he was nominated for the Ernst & Young Entrepreneur of the Year award, CEO at Syngence Corporation, COO of AtlasBanc Holdings Corp. and CEO of Advantage Funding / NAFCO Holdings which grew to in excess of $1 billion. Mr. Miles is currently Managing Partner at SCM Capital Group, a global strategic and financial advisory firm and Senior Managing Director at Tigress Financial Partners, a full service institutional broker dealer where is he is head of Investment Banking.
Most recently, Mr. Miles served as Senior Managing Director, Head of FIG and COO, Investment Banking at Cantor Fitzgerald & Co. Mr. Miles has held senior leadership roles at Oppenheimer & Co., D.A. Davidson and & Co., The First Boston Corporation (Credit Suisse) Meridian Capital and Greenwich Capital Markets. Mr. Miles has broad public, private and nonprofit board experience and has been active for many years in leadership roles with the Make-A-Wish Foundation. He presently serves on the boards of Kuity, Corp. and Posiba, Inc. as Vice Chairman and Chairman respectively. Mr. Miles holds a BBA from the University of Washington and holds FINRA licenses Series 7, 24, 63 and 79.