“As I came to understand eXp’s model and the manner in which they conduct business I could sense the excitement that exists within the organization,” said Frederick. “The idea of Agent-Ownership, that agents and brokers who are part of the organization are also its shareholders, is a game changer in my opinion. Additionally, looking at how the company has leveraged technology to lower costs and enable its revenue sharing program, I believe this model is going to empower a new generation of real estate professionals and I am both proud and eager to be in business with these folks,” Frederick said.
eXp Realty President Jason Gesing stated, “In getting to know Gene since he first contacted us last November, we have come to understand and appreciate the level of his character and career achievements. With each program and every professional we introduce into the Company, we are mindful of whether or not the initiative or individual fits well within the eXp culture. I cannot imagine a better fit from a professional or personal perspective than Gene Frederick for the eXp family.”
Company CEO Glenn Sanford added, “While constructing the business plan for eXp Realty I was focused on developing what I thought the ideal brokerage had to look like in order for me to join if I were an agent. To attract and engage an industry leader of Gene’s caliber represents validation for the company and the infrastructure we continue to build. I am energized by the opportunity to know Gene and work with him for a very long time,” said Sanford.
Mr. Frederick concluded, “I know what it’s like to be part of a great organization in its earliest stages that is truly building the future of the industry. I am excited to participate again in that level of innovation.”
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.