Milestone Represents 75% Year-over-year Agent Growth
eXp Realty Exceeds 50,000 Real Estate Agents Globally Following Record-Breaking Financial Results
Milestone Represents 75% Year-over-year Agent Growth
BELLINGHAM, Wash., March 30, 2021 (GLOBE NEWSWIRE) — eXp World Holdings, Inc. (Nasdaq: EXPI), the holding company for eXp Realty, one of the fastest-growing residential and commercial real estate companies, today announced that it has exceeded 50,000 agents globally. This represents a year-over-year increase of more than 75% when compared to 28,449 agents at the end of Q1 in 2020.
“Our growth trajectory is a huge validation of our agent-centric value proposition,” said Jason Gesing, Chief Executive Officer of eXp Realty. “Agents are drawn to our innovative, cloud-based model with clear financial incentives and unrivaled technology and training. We are grateful to our incredible agents for championing the platform and helping us transform the real estate industry for agents and consumers alike. We’re thrilled to enter the second quarter having achieved this critical milestone.”
This achievement follows eXp’s record 2020 financial results in which revenue increased 84% year-over-year to $1.8 billion. Agent growth in 2020 also increased at a rapid pace. The number of agents and brokers who joined eXp last year increased 63% to 41,313 compared to 25,423 at the end of 2019.
Along with its record-breaking financial results and agent growth in 2020, eXp Realty also expanded into five new international locations, including France, Portugal, Mexico, India and South Africa. By the end of the second quarter of 2021, eXp will have a presence in 16 countries. Additionally, for the fourth consecutive year, agents and employees named eXp Realty a best place to work in Glassdoor’s 2021 Employees’ Choice Awards among U.S. large businesses.
About eXp World Holdings, Inc.
eXp World Holdings, Inc. (Nasdaq: EXPI) is the holding company for eXp Realty, Virbela 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 50,000 agents in the United States, Canada, the United Kingdom, Australia, South Africa, India, Mexico, Portugal, France, Puerto Rico, Brazil, Italy and Hong Kong 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 http://devexpworld.wpengine.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.
Investor Relations Contact:
MZ Group – MZ North America
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/2404f637-82ba-49d0-aa15-60aa15a8411b
