“A year and a half ago we became a public company in order to create a brokerage whose public shares are owned in part by the real estate professionals who are a part of it,” said eXp Realty CEO, Glenn Sanford. “We have grown substantially since that time but have not, until today, undertaken a concerted effort to tell our growth story to those investors interested in small public companies. As we continue to grow, creating more channels of communication and conversation with both our present and future shareholders just makes sense. In addition, we want those who review and analyze companies to understand that we are serious about investor communication and investor collaboration. This is important to us as we wish to build a long term relationship with our shareholders and rather than hiring outside firms to do significant PR we would prefer to have those conversations ourselves,” said Sanford.
Since its launch, eXp Realty has successfully used various online outreach to attract agents and generate home-buying or selling clients for those agents. The program announced today represents a natural progression to leveraging online tools to create investor awareness and foster conversations about eXp Realty International Corporation, the public company and holding company for eXp Realty, LLC and subsidiaries.
“I enjoy having conversations about eXp Realty’s growth and part of that is creating awareness about the public company whether it be with future agent-owners during our agent attraction meetings or with investors and institutions,” Sanford said. “We encourage shareholders and potential investors to visit with us inside of our Cloud Office. They can see how vibrant and engaging the experience is, and how it’s become a true home to agents, brokers, and staff across parts of North America where they conduct business, learn from, share with, and develop meaningful professional and personal relationships with peers, all without the overhead or capital requirements generally associated with creating more traditional bricks and mortar offices. We look forward to extending the cloud-office experience to our shareholders so that they can be an intimate part of eXp Realty as we continue to grow.”
About eXp World Holdings, Inc.
eXp World Holdings, Inc. is the holding company for a number of companies most notably eXp Realty LLC, the Agent-Owned Cloud Brokerage™ as a full-service real estate brokerage providing 24/7 access to collaborative tools, training, and socialization for real estate brokers and agents through its 3-D, fully-immersive, cloud office environment. eXp Realty, LLC and eXp Realty of Canada, Inc. also feature an aggressive revenue sharing program that pays agents a percentage of gross commission income earned by fellow real estate professionals who they attract into the Company.
eXp World Holdings, Inc. also owns 90.5% of First Cloud Mortgage, Inc. a Delaware corporation launched in 2015 and now licensed to originate mortgages in Arizona, California, New Mexico and Texas.
The corporate name change to "eXp World Holdings, Inc." has been approved by our Board and stockholders but is not yet effective, pending the mailing of a definitive information statement to our stockholders in accordance with applicable rules and a 20-day notice period thereafter.
As a publicly-traded company, eXp World Holdings, Inc. uniquely offers professionals within its ranks opportunities to earn equity awards for production and contributions to overall company growth.
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 Company's expansion, revenue growth, operating results, financial performance and net income changes. 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 Annual Report on Form 10-K.