Things are moving pretty quickly over at eXp World Holdings, the parent company of eXpRealty, these days. Not only has the company’s agent count grown to over 21,000 agents (nearly double the agent count in Q2 2018), its closed transactions have grown +80% to 35,837 y/y for $10.3B (+90%) in Q2 2019.
As a result of this rapid agent and transactional growth, co-founder Glenn Sanford recently announced its Preferred Partners program.
“Just two years ago,” said Sanford to Patrick Kearns with InmanNews, “a lot of the companies…we were trying to have conversations with didn’t think…we were large enough to be a good partner for them. Now, it’s a totally different conversation. We have people knocking on our doors, wanting to be our partners.”
EXp’s Preferred Partners program is to include mortgage, home warranty, title and escrow and moving services as ancillary options for eXp agents and consumers to use. IntroLend and First Cloud are the designated mortgage partners; America’s Preferred Home Warranty is the designated home warranty partner; Silverline Title and Escrow is the designated title, escrow and settlements partner; and Movinghub is the designated moving services partner.
All of these new partners are at no cost to eXp agents.
According to Sanford, “Every real estate brokerage that has achieved some sort of scale really monetizes their network of agents and brokers through additional relationships. A lot of times, these relationships are as much o more than the net profitability that comes from the core brokerage, so it does add significantly.”
Sanford did not announce any specific time frame concerning the execution of these Preferred Partners services but he did allude to a Q3 2019 launch.