BELLINGHAM, Wash. — July 13, 2021 — 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 Panama, under the eXp Panama banner. eXp now operates in 17 countries and territories with more than 59,000 agents across the globe.
eXp offers real estate agents a unique cloud-based work platform and a particularly attractive 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 seven new markets in the first half of 2021.
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.
“The opening of Panama is one more critical step in the expansion of eXp in the Caribbean and Latin America region (CALA),” said Valdes. “Panama has long been an attractive destination for foreign investment in real estate, boasting high housing demand and a resilient property market, all factors that we believe make Panama an ideal market for our model. We have received an incredible amount of interest from agents in the country and are truly looking forward to expanding the incredible culture of eXp to such a dynamic market.”
eXp Panama’s brokerage operations will be led by Luis Pimentel, Director, eXp Panama. Pimentel comes to eXp with more than 20 years of experience in the real estate sector. Pimentel is past president of the Panamanian Association of Real Estate Brokers and Developers (ACOBIR) and was elected to serve on the board of directors of the National Association of Realtors (NAR), as an international member.
“I am already a strong believer in the agent-centric culture of the company and am confident that our entrance in the Panama market will create positive changes in the lives of agents and in the end buyer and seller. Our country has never seen anything like this,” says Pimentel.
Panama represents the first of three markets that eXp Global has identified for expansion in the third quarter of 2021, with the openings of Germany and Japan slated later in the year. Puerto Rico, Brazil, Italy, Colombia, Spain, Israel and Hong Kong 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 attractive 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 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 59,000 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 and Panama, 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.
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Founder, CEO, eXp World Holdings
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.
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
As Chief Information Officer, John Tobison leads software engineering, product management, information technology, product launch, project management, data services and innovation for eXp World Holdings and its companies.
John brings more than 30 years of experience in business and information technology management, helping companies scale products, business processes and staff capabilities for rapid growth.
Previously, he was a key member of the executive leadership teams that grew three successful technology companies from early stage to market leaders. As COO of OutMatch, John led the development of two new software products, helped significantly grow the company through a private equity-funded acquisition of a larger company and developed a new technology road map for the merged company. Before that, he was the Chief Information Officer of CommerceHub, where he re-engineered customer implementation and scaled up IT operations in a high-availability 24x7x365-transaction-processing environment, and MapInfo Corporation, where he ran international IT operations and was part of the management team that took the company public.
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.
CEO, eXp Realty
Jason is Chief Executive Officer, eXp Realty, and a member of the Board of Directors for eXp World Holdings. He has been a critical part of eXp Realty since joining the company in March 2010 and has served in a number of capacities, including Chief Executive Officer, managing broker of multiple states, General Counsel and President. Currently, Jason supports the company’s larger enterprise by evaluating and developing complementary ventures outside of the more traditional residential real estate vertical.
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.
President, eXp Global
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.
EVP, People, eXp Realty
Mike is an integral part of driving the overall culture and organizational philosophy of eXp Realty. He has more than 20 years of experience strengthening the link between people, technology and corporate strategies for high-growth companies. His areas of expertise are in building scalable HR infrastructures with a focus on culture and organizational growth for rapidly expanding companies.
Prior to eXp Realty, Mike led Human Resources and Talent Acquisition at CloudCraze, a Salesforce company. He currently serves on the Chief Human Resources Officers (CHRO) committee for the Human Resources Management Association of Chicago (HRMAC), an association of strategic HR leaders in the Chicago area.
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.
Fee Gentry currently is an eXp Realty agent in Texas, and co-chair and one of the original founders of ONE eXp, eXp Realty’s initiative for diversity and inclusion. She has more than 15 years of experience in the real estate industry, including being named a top local agent in her first year. Gentry also started several businesses in the rehab, fitness and sports training industries. She has a masters from Our Lady of Lake University in San Antonio where she focused on entrepreneurship and marketing.
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.