Key Highlights
- Net income soar to $31M
- Revenues and agent counts soared
EXp World Holdings Experiences Record Best in 2020
The final Q4 2020 earnings report for eXp World Holdings silenced any whispering reservations real estate industry experts may have had about operating exclusively in a virtual world. 2020 was the most profitable year in the history of eXp World Holdings and its subsidiary eXp Realty.
Not only did eXp confirm earlier preliminary reporting of its most profitable year ever, it also confirmed soaring agent counts.
EXp World Holdings Confirms Q4 2020 Revenue of $609.3M
Originally expected to generate revenue of $521.8M in Q4 2020 by analysts, eXp reported generating $609.3M for a net income of $31M. Such an accomplishment came off the back of only one profitable quarter in company history prior to 2020.
Agent Count Increased +63% y/y in 2020
On top of generating $609.3M in revenue during Q4 2020, eXp also increased its agent count to 41,313 by year’s end, a y/y increase of +63%
As of March 11, eXp agent count increased to more than 48,000.
According to founder, chairman and CEO of eXp World Holdings, Glenn Sanford, “EXp experienced tremendous growth in 2020 as our agents and staff demonstrated resilience and overcame the challenges throughout the year. Our cloud-based brokerage and virtual learning environment enabled continuous operations and supported the rapid growth of adding more than 15,000 agents during the year.”
Scaled Up Transaction Closures, Sales Volume, International Presence and Commercial Real Estate Business by End of 2020
In all aspects of its real estate business, eXp World Holdings’ growth became more pronounced in 2020. Take a look:
- eXp Realty agents closed 239,981 transactions in 2020, an increase of +77% y/y.
- Transaction sides increased +113% to 82,055.
- eXp Realty agents closed +$72B in total sales volume in 2020, an increase of +82% y/y.
- eXp Realty international expansion efforts added a brokerage presence in France, Portugal, Mexico, India and South Africa to gain both residential and commercial market share.
- eXp also scaled up its commercial real estate business into 29 states during 2020.
EXp World Holdings anticipates that its commercial real estate business will join its residential business in all 50 states by the end of 2021.
Thanks to eXp World Holdings and Inman.
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