EXp agent count skyrocketed from 46,745 agents in February 2021 to over 75,000 agents worldwide at the end of 2022.
EXp Realty Added Some 30,000 Agents Over Past 12 Months
EXp World Holdings, the parent company of eXp Realty, reported in November 2021 a total of 68,000 agents. Most recently, eXp’s agent growth topped 75,000 worldwide since February 2021. This growth spurt means that 10.29% of the company’s growth over the past year has happened in just the last four months.
Company data substantiates that eXp Realty has added some 30,000 from February 2021 to February 2022.
Glenn Sanford, founder and CEO of eXp World Holdings, said, “We are driven to continuously innovate our business model and enhance our agent value proposition, which ultimately delivers great service to homeowners and sellers. Our agent-centric platform is the foundation of our success as the fastest-growing real estate brokerage in the world.”
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Culture of Virtual Brokage Attracts High-Producing Real Estate Teams
Jonathan Lahey, a DC-based team leader who operates under the eXp mantal, credits his team’s success to the fact that eXp is totally virtual…no office space overhead…no being tied down to any one specific location/market.
Lahey told Inman last June in a feature about eXp’s team growth, “We’re borderless. We (our team) literally can expand anywhere we want.”
Sanford Confident eXp Agent Count To Hit 100,000 by End of 2022 and 500,000 by 2026
Despite increasing competition from other brokerage franchises, Sanford appears convinced that eXp Realty will grow to an agent count of 100,000 by the end of 2022 and 500,000 by 2026.
This kind of confidence comes from scavaging and understanding the data. With a brokerage history of growing its agent count by a minimum of 50% every year, Sanford said in Inman’s 2022 eXp outlook, “…by 2024, (there’s) potential that we would have the largest single real estate brand worldwide by agent count…If we grow something more akin to where we have been growing (substantially more than 50% yearly), we could be there potentially by the end of 2023.”
Are others in the industry as convinced of eXp’s agent growth potential and goals? Jay Thompson, former broker, Zillow executive, and Inman contributor, told Inman last November, “As long as they can scale and shift when needed (and I think they can) in what they offer their agents, in theory, they have no upper constraint…I just don’t think there are enough agent bodies out there for any single brokerage to have 500,000.”
eXp and the Metaverse?
Because eXp‘s virtual world was launched in 2009 thanks to its constantly enhanced and improved platform VirBELA, Sanford believes eXp has a 12-year head start on others when it comes to the metaverse.
Sanford said, “Where we’ve always gone is to the 2D version of the 3D immersive experience…” via desktops, laptops and phones. “Through FrameVR.io. we’re able to actually hook together multiple spaces.”
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