The Future of Real Estate
The Future of Real Estate
How Agents Are Building Their Business at eXp Realty
Because eXp Realty is Agent-Centric
Because eXp Realty is Agent-Centric
Because eXp Realty Functions in A Cloud Office
Technology and electronic commerce has had an immense impact on the real estate industry. Our cloud-based platform provides
A cloud office environment allows agents coast to coast, to come together to collaborate in many ways
eXp Realty agents and brokers are working together to build businesses:
Our Values Include Collaboration and Learning Together
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eXp Realty announced that it surpassed 60,000 agents and brokers. There were several big announcements recently. This company is on fire! Here are the highlights:
eXp Realty put out the Second Quarter Financial Report earlier this week. The company exceeded revenue of $1 billion in the second quarter, a new record. There were triple-digit percent gains in revenue (183%), gross profit (133%), earnings per share (300%), operating cash (185%), and net income (350%), as well. We saw an increase in agents of 87% since this time last year.
Not only did we have an increase in agent count, it is clear that agents are doing more business, as all the triple-digit statistics show. Residential and commercial transactions increased 164%, and sales volume increased 210%.
Agents in North America are seeing the value in this company, as Karen and I have for six years. Agents are the center of the company and are awarded many ways: stock awards for production and for sponsoring agents into the company, discount stock purchases, and a comparatively low cap. Add to that the generous revenue share that agents get every year, and you just can’t compare. What real estate company awards it’s agents for doing their job…selling real estate? or helping to grow the company?
Yes, I know of companies that give a $100 bonus to an agent who brings another agent into the company. Our stock awards for sponsoring agents are much more valuable, especially as the stock increases in value.
Add to that the dollar amount per year, every year, that we get from revenue share for this particular agent. We have a team of agents that goes seven levels deep, and the revenue share goes along with each of these agents. Learn more about Revenue Share.
Again, what other company values their agents with anything close to this kind of award?
Another big announcement this week was the cash dividend for stockholders, of which most agents are included…see the following points. The first cash dividend for stockholders of EXPI will be paid on August 30th, to shareholders of record at the close of business on August 16th. The dividend is $0.04 per share. Read more about EXPI.
And it should be mentioned: *Awards are subject to three years of continuous service and in good standing with eXp Realty from the award date. Sponsor awards require that both the sponsoring agent and the sponsored agent remain with eXp Realty and in good standing for three years from the award date.
eXp Realty has expanded into more countries in the last year. We are currently in 16 countries: United States, Australia, Canada, France, India, Mexico, Portugal, South Africa, and the United Kingdom, and in 2021, Eight new countries were open: Italy, Puerto Rico, Brazil, Hong Kong, Colombia, Spain, Israel, and Panama.
eXp recently announced a new joint venture with Kind Lending, a nationwide residential mortgage provider. It is called SUCCESS® Lending. Having purchased SUCCESS Enterprises in 2020, a 124-year-old personal development company, this JV will build on that heritage. (You may have seen Success Magazine on the grocery store or drug store magazine racks!) Kind Lending shares many company values with eXp Realty, most notably our core values of community and service.
In November of last year, eXp Commercial took a giant leap, expanding into all 50 states. Since then, eXp Commercial has offered two free commercial real estate trainings for any agent in any company. James Huang was hired as the President of eXp Commercial in September last year. Huang has over 20 years of commercial real estate experience.
In April 2021 eXp Commercial partnered with Reonomy, a property intelligence and technology company. This service will provide actionable commercial real estate insights, using artificial intelligence and machine learning.
eXp Realty is on a mission to add more services for agents and our customers to what we already offer: Showcase IDX, Verbella,
AND eXp Partners: Intro-Lend, Silverline Title & Escrow, Express Offers, America’s Preferred Home Warranty, Utility Connect, Build-A-Sign, eXp 360 Tours, Currencies Direct, the CE Shop, Young Alfred.
For the fourth consecutive year, eXp Realty has been named as one of the best places to work as part of Glassdoor’s Employees’ Choice Awards. eXp Realty is among the 100 companies in the U.S. to receive this honor in the large business category.
If you would like more information on eXp Realty, please don’t hesitate to call: Chris Highland, 301-401-5119, for a candid, no-pressure conversation about our 6 year experience with eXp Realty.
*From the eXp Agent Equity Award Plan Disclosure
eXp Realty is an eXp World Holdings, Inc. (NASDAQ: EXPI) company. eXp World Holdings also houses eXp World Technologies, LLC, which operates the VirBELA platform.
eXp Realty is the first, cloud-based real estate brokerage, the largest residential real estate brokerage by geography in North America, and the first and only real estate brokerage to operate as one company-owned brokerage in all 50 U.S. states. It is one of the fastest growing real estate brokerage firms in North America. As a publicly traded company, eXp World Holdings uniquely offers real estate professionals within its ranks opportunities to earn company stock for production and contributions to overall company growth.
This is not an official communication from eXp World Holdings, or it’s subsidiaries. Chris Highland is an independent contractor with eXp Realty.
The revenue sharing aspect of the eXp Realty business model has drawn a lot of attention, both positive and negative. Critics have been pointing out what they deem as weaknesses in the business model. There is admittedly, a lot of misunderstanding surround this particular pillar of the compensation model at eXp. It certainly is something… Continue Reading
When you have a great year in real estate, it’s affirming to get that award in front of all your associates, isn’t it? Then you post it on social media to remind your friends and clients that…”oh, yeah…they sell real estate…and they do a good job of it, too!” Affirmation and marketing all rolled into… Continue Reading
We’ve been affiliated with eXp Realty for 5 1/2 years. The great thing about accruing stock in the company is that it happens as you are going about your business…helping people buy and sell real estate. The stock is earned as awards for production, and as awards for sponsoring people into the company. Stock can… Continue Reading
eXp Realty Was Built for This And by this, I mean disruption. Right now the Pandemic is THE disruption. In every industry. In every state. In every country. These are unprecedented times, to say the least. As businesses shut down their brick and mortar offices in March due to the Corona virus, Covid-19, may people… Continue Reading
If I Could Create A Brokerage Today… The brokerage model hasn’t been adequately challenged since 1906. There is still a semi-adversarial relationship between the broker and the agent competing for a bigger piece of the pie. It’s a very good time to consider a paradigm shift in the broker/agent dynamic. Support for Agents The ideal… Continue Reading
We just celebrated our four year anniversary with eXp Realty Maryland. When I use the word “celebrate”, it’s for good reason. I’ve been in residential real estate sales for almost 27 years, and I can’t say I’ve ever “celebrated” an anniversary. It’s been four years worth celebrating. eXp Realty was a game changer for Karen… Continue Reading
It’s different than the traditional brokerage model that we’ve been used to since cira 1908. That’s why it takes more than just a glance to understand the real value proposition. eXp Realty has turned the brokerage model upside down. Let’s do a quick comparison: The Traditional Brokerage Model in the U.S. Whether it is a… Continue Reading
eXp Realty has an amazing award for top producing agents…and it’s not a paper certificate, or even an engraved plaque! It’s worth eminently more. It is worth potential tens of thousands of dollars. This award is called the ICON Award. The eXp Realty ICON Agent Award currently provides each qualified ICON agent with up to… Continue Reading
Why Join eXp Realty?
We do things differently, and we offer much more.
At eXp Realty, our family of agents and brokers build their own businesses. They work, attend classes, strategize, collaborate, innovate, enjoy water-cooler chats, build teams, build unity and share experiences inside of our Cloud Office Environment.
Together, we’re leveraging Systems and Tools in order to grow an agent and broker-owned international, publicly-traded company.
eXp Realty agents and brokers are working together to build businesses, build and enhance brands, increase profitability, reduce overhead and risk, and achieve bold career and life goals, all while establishing a direct ownership interest in eXp Realty International Corporation as a shareholder and partner.
Here's a perspective from one of the top agents in the country:
“We live in a world of disruption. Companies like Uber and Airbnb are challenging the status quo of some of the most tried and true industries with their unique platforms. eXp’s “cloud-based” real estate brokerage model brings this disruption to the traditional concept of the Real Estate Brokerage by changing how real estate agents are compensated and supported.When you remove the cost of locally owned offices, regional management, and national corporate overhead from the brokerage model it allows that revenue to flow back to you – the agents that created the revenue in the first place.You are probably perfectly happy with your current company. That’s what we all said before we joined eXp Realty. You owe it to yourself and your family to be open-minded enough to examine this opportunity. Then you can decide what’s best for you – but at least you’ll be informed.”~ Jay
About Chris Highland
Chris Highland is the former broker, now an Associate Broker and Branch Office Manager with eXp Realty in Maryland. While he was the broker, he oversaw the growth of the company from 30 to over 300 agents. We've come a long way!
Chris has over 26 years of experience in residential real estate sales in Central Maryland. Connect with Chris on LinkedIn, Twitter, or Facebook. He is happy to answer any questions about eXp Realty. 301-401-5119. Chris Highland is an independent contractor of eXp Realty and this is not an official release of eXp Realty, its parent eXp World Holdings, Inc. or any related subsidiary.
Lisa Lowe, Broker - 888-860-7369