The Future of Real Estate
2022 Year End Review eXp Realty
Growth for eXp Realty in 2022
As of the end of December 2022, eXp Realty is operating in 24 countries with 86,000 agents around the world. The latest market to open was Dubai in December 2022.
eXp Realty operates in United States, Canada, the United Kingdom, Australia, South Africa, India, Mexico, Portugal, France, Puerto Rico, Brazil, Italy, Hong Kong, Colombia, Spain, Israel, Panama, Germany, Dominican Republic, Greece, New Zealand, Chile, Poland and Dubai and continues to scale internationally. The last six markets opened in 2022.
Growth in the Metaverse
eXp Realty has been operating in the “metaverse” for a decade. I’m talking about our virtual platform, Virbela. For the second year in a row, Virbela was recognized by Fast Company on it’s list of Next Big Things in Tech. It was recognized in the Metaverse and Web3 category for building a platform that is making it easy for companies to establish digital headquarters.
eXp Revenue Growth in 2022
The Third Quarter in 2022 was a record-breaking report for eXp Realty, with $1.2 Billion in revenue, and agent growth of 30%. EXPI also started giving a cash dividend of $0.045 per share of common stock.
“We continue to grow revenue and gain market share despite an increasingly challenging market,” said Glenn Sanford, Founder, Chairman and CEO of eXp World Holdings. “The third quarter reflects eXp’s resilient model and ability to grow through any market. We continued to strengthen our agent value proposition with new services, including Revenos and eXp Luxury as well as initiatives led by SUCCESS®, SUCCESS Health™ and SUCCESS Coaching™.”
Why Company Metrics Matter
Many local agents wonder why it matters to me personally whether eXp Realty grows on a national, or international level…after all, real estate is a local business, isn’t it? To most self-employed real estate agents, these kinds of company metrics don’t make much difference to their bottom lines. But, eXp Realty is a different kind of real estate company.
As an owner in the company, I’m interested in the overall health of the company. With the shift in the real estate market today, I want to know how my company is going to navigate the changing environment…is the company going to not only survive, but thrive?
I also want to know if the company is going to continue to support me in my local business. What are they doing to help agents not only survive, but thrive? A healthy company has much more to offer me, an independent agent, than a company that is just holding on during a market shift.
Company metrics matter. What we are seeing at eXp Realty is continued growth, even as the market changes and slows down. This growth means more opportunities for us to continue to build a successful business.
