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%.
What’s Driving eXp Realty’s Growth?
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?
eXp Realty Announced a Cash Dividend for Stockholders
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.
- (*Upon an agent’s first completed transaction (full unit) in each calendar year with eXp Realty, the agent will be granted an award of $200 worth of eXp World Holdings, Inc. common stock.)
- *Upon capping ($16,000 in company commission during each anniversary year), agents will be granted an award of $400 worth of eXp World Holdings, Inc. common stock.
- *When an agent directly attracts another agent to the company, and upon the sponsored agent’s first
completed transaction with eXp Realty, the sponsoring agent will be granted an award of $400 worth of eXp World Holdings, Inc. common stock.
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.
eXponential Growth Worldwide
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.
Growth in the eXp Family of Services
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.
The Awards Keep Coming!
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.