Company to Establish Operations in Puerto Rico, Brazil, Italy and Hong Kong by the End of the First Quarter of 2021
eXp Realty is starting off 2021 with a bang, announcing plans to expand once again. eXp Realty, one of the fastest-growing, global real estate companies and a subsidiary of eXp World Holdings (Nasdaq: EXPI), has announced plans to expand its real estate operations into Puerto Rico, Brazil, Italy and Hong Kong in the first quarter of 2021. In 2020, eXp launched operations in South Africa, India, Mexico, France and Portugal.
Throughout 2020, eXp continued to gain global market share by growing its agent base by more than 60%. Today, the eXp Realty platform has more than 41,000 agents across nine countries, including the United States, Australia, Canada, France, India, Mexico, Portugal, South Africa and the United Kingdom. As part of the expansion, the company will hire experienced leaders in each country, in addition to local teams, who will be responsible for agent operations and services.
“The record revenue and transaction volume growth in 2020 was a direct result of our agent-centric, cloud-based brokerage that allowed us to add agents all over the world at an unprecedented pace,” said Michael Valdes, President of eXp Global. “As we look ahead in 2021, we expect to continue expanding throughout Europe — a key growth market — while adding strong footholds in South America, Asia and the Caribbean.”
eXp Realty offers a unique financial model for residential and commercial real estate agents, going beyond attractive commissions to provide its agents with an opportunity to earn additional income by helping the company grow its agent base anywhere in the world and equity in eXp World Holdings, Inc. stock programs applied to listing and selling activities. eXp’s cloud-based brokerage is powered by Virbela, the company’s immersive and collaborative platform, which enables its agents to communicate, meet and conduct business in a virtual world.