eXp Realty Updates Shareholders on Growth Milestones
Agent and Broker Base Has Increased Over 40% Year-to-Date
BELLINGHAM, WA–(Marketwired – Jun 17, 2015) – eXp Realty International Corporation (OTCQB: EXPI), the Agent-Owned Cloud Brokerage™, announced today the success of its growth objectives for 2015 as increasing numbers of top producing professionals join its agent community across multiple and diverse markets.
“We are pleased to report at the mid-year point that we have surpassed our expansion goals and in particular, over the last 60 days, we have enlisted a significant number of agents who qualify as top producer Icon level agents,” stated Glenn Sanford, CEO of eXp Realty, adding “The Company’s commitment to Agent-Ownership, which has been enhanced in recent months by the release of the Company’s 2015 Icon Agent Program, and its Direct Purchase Program whereby agents can elect to set aside a percentage of commission income towards the purchase of Company stock at a discount, have helped propel our agent base by more than 40% year-to-date.”
The Company has approximately 650 agents and brokers across 30 states and 3 Canadian provinces after closing 2013 and 2014 with 344 and 467 agents respectively. Recent growth has been bolstered by the expansion in Texas following the Company’s announcement on April 23rd that Mr. Gene Frederick, top recruiter in the Keller Williams system in 4 out of the last 10 years, was joining the Company. Keller Williams is regarded by many as the largest real estate brokerage company in the United States.
eXp Realty President, Jason Gesing added “Also contributing to growth is the Company’s Making it Rain program, launched in February that delivers high-quality leads to agents and brokers at a significantly reduced cost to those generated and sold by popular third-party syndicators such as REALTOR.com, Market Leader, Zillow and Trulia. Each new entrepreneurial agent who joins the Company validates our position that many of the leading industry professionals possess a strong ownership mentality and a desire to be part of a culture of collaboration among fellow shareholders. We are excited and proud to offer opportunities not otherwise available in the industry and believe it will continue to help the Company build long-term shareholder value.”
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.
For more information you can follow eXp World Holdings, Inc. on Twitter, LinkedIn, Facebook, YouTube, or visit investors.exprealty.com orwww.exprealty.com.
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.