BELLINGHAM, WA–(Marketwired – Feb 26, 2015) – eXp Realty International Corporation (OTCQB:EXPI), the Agent-Owned Cloud Brokerage, today unveiled its C.L.O.U.D. platform, a central component of which is “Making It Rain,” a robust, high-quality lead generation program delivering leads to its agents and brokers at steep discounts to leads generated and sold by popular third-party syndicators such as REALTOR.com, Market Leader, Zillow and Trulia.
“Lead generation costs associated with third-party syndicators have spiraled out of control. Agents have come to believe that the syndication sites are the only significant avenue to generating high quality internet leads,” said Brad Andersohn, eXp Realty’s Director of Education and Industry Outreach and former Director of Zillow Academy. “These agents who are paying exorbitant fees for advertising to get these leads are the ones who are actually generating the data through their own local efforts. Effectively, syndicators are selling back to agents, at a very high price, the very data that they have obtained from those same agents at no cost,” said Andersohn. “As a brokerage with membership in a large and growing number of multiple listing services across North America, eXp can aggregate data and generate leads very effectively. With the Making it Rain program, we will be distributing those leads to an eXp agent, without asking that agent to share it with others, and at a discount of up to 75% of what agents are paying today through contracts with third party syndicators.”
The leads generated through Making It Rain will not be company leads and will not be subject to a lesser commission split for the agent. The program allows agents to sign-up for leads in their market for as little as $100/month without a contract, with eXp Realty facilitating lead generation campaigns on behalf of the agent using Search Engine Marketing, Facebook Ad campaigns, Craigslist and other tools.
In addition, the program aims to educate consumers that the most up-to-date, professionally-listed properties are on MLS member websites and not some of the for-profit listing syndicators which are plagued by bad and confusing data ranging from inaccurate property valuation programs to “listings” for properties which have long since been sold or are otherwise not available.
“At eXp Realty, we have come to recognize the exploitation of agents through expensive lead generation subscription contracts, as well as the abundance of inaccuracy of listing and property data often found in syndicator websites,” said eXp Realty Founder and CEO, Glenn Sanford. “We now know that there are ways to generate leads using the syndicators without agents giving them their hard-earned money, and we are reinforced in the view that the most current and accurate data exists among MLS member websites and not with the for-profit syndicators.”
“Inaccurate or outdated data does a disservice to both consumers and to real estate professionals. The highest quality information about listings is that which is available from real estate firms and professionals using their MLS’s not advertising portals. We owe it to consumers to provide them with accurate and up-to-date data and, as an industry, we owe it to our agents to help them generate leads without reliance on services charging unconscionable fees for the privilege of using data that is derived from their (the agents’) own efforts and expertise,” said Andersohn.
In addition to lead generation, C.L.O.U.D. provides eXp Realty agents and brokers with a full suite of business-building tools, along with integration into the company’s interactive and collaborative Cloud Office culture, paperless transactions, and professional development.
As a publicly-traded company (OTCQB: EXPI), eXp uniquely offers agents and brokers the opportunity to earn equity awards for production and contributions to company growth. The company also features an aggressive revenue sharing program that pays agents a percentage of gross commission income earned by fellow professionals who they attract into the Company.
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.