eXp Realty, the first cloud-based international real estate brokerage and subsidiary of eXp World Holdings Inc., now has more than 16,000 agents working under its brand. These +16,000 agents represent a whopping +145% increase since January 15, 2017.
Some industry experts are going so far as to call eXp Realty the Amazon of real estate. Clearly, large numbers of real estate agents agree with this moniker.
eXp Realty is the first cloud-based real estate brokerage existing today. It is also the largest real estate brokerage by geography in North America. Additionally, eXp Realty is the only real estate brokerage to date to operate as one company-owned brokerage in all 50 states, the District of Columbia and in three Canadian provinces.
Not only has eXp increased its number of agents by +145% since 2017, eXp increased its revenue by 232% y/y to $157.2M in Q3 2018. This 232% y/y increase represents a sequential +20% growth rate compared to $130.5M in Q2 2018. Its transaction sides closed 23,218 in Q3 2018, an increase of +211% y/y and its transaction volume closed $6.2B in Q3 2018, a +240% increase y/y.
eXp offers its agents a unique agent-ownership package. As a publicly traded company on the Nasdaq exchange, eXp offers its real estate professionals opportunities to earn company stock based upon their deal production and contributions to the company’s overall growth.
Additionally, eXp’s VirBELA platform offers its agents a cloud-based environment focused on educational and team development “… with clients in various industries from government to retail.” eXp Realty’s cloud campus offers agents 24/7 access to professional training, collaborative tools and networking with company agents and staff throughout the brokerage.
With minimal infrastructure, eXp Realty is the first of its kind to offer its agents a 3-D immersive cloud brokerage to connect with colleagues throughout its geographic reach, share tips, attend classes and build business strategies that will extend their businesses to new heights.
Utilizing the wisdom and leadership of eXp founder Glenn Sanford (2018 Inman Innovator Award for Most Innovative Broker Owner). eXp Realty and eXp World Holdings Inc. are considering possible expansions within the real estate industry such as mortgage origination services, title and escrow services, and homeowner’s insurance.
Will eXp become the Amazon of real estate? With a 67% insider ownership stake in the company, many “outside” investors are betting on it.