BELLINGHAM, Wash., March 11, 2024 (GLOBE NEWSWIRE) -- eXp Realty®, “the most agent-centric real estate brokerage on the planet™” and the core subsidiary of eXp World Holdings, Inc. (Nasdaq: EXPI), today announced its 2023 revenue share and agent equity distribution statistics, underscoring its competitive compensation framework as a catalyst for ongoing agent expansion. The company paid agents and brokers over $230 million in revenue share and equity benefits in 2023.
Revenue share and equity paid to agents and brokers highlight eXp Realty's steadfast dedication to fostering agent growth and success through innovative compensation structures:
- Revenue share to agents was $197.9 million in 2023.
- Through its innovative agent growth incentive program, eXp World Holdings issued approximately 2.22 million EXPI shares to eXp Realty agents and brokers in 2023, with an estimated value of approximately $34.7 million, showcasing a commitment to agent ownership and wealth-building opportunities.
- Despite market challenges, eXp Realty continued to lead by distributing an unparalleled amount of profit/revenue share and equity benefits to agents and brokers, more than any other real estate brokerage model or platform.
"Our mission is simple: empower agents to succeed and solve their biggest pain points,” said Glenn Sanford, Founder, and CEO of eXp Realty. “Before we created this company, real estate agents were not offered any meaningful ownership in the brokerages they were part of, so we built eXp to compensate our agents for their contributions to our growth. We're not just a brokerage, we're a community of forward-thinkers committed to shared growth opportunities. Despite market challenges, our resilient model continues to thrive, proving that when our agents succeed, we all do."
Sanford further added, "Our unique approach to agent compensation and equity ownership is a testament to our belief in shared success. As we continue to build in the evolving real estate landscape, our focus remains on empowering agents, fostering their growth, and ensuring they have a significant stake in the collective success of our company."
About eXp World Holdings, Inc.
eXp World Holdings, Inc. (Nasdaq: EXPI) is the holding company for eXp Realty®, Virbela® and SUCCESS® Enterprises.
eXp Realty is the largest independent real estate company in the world with more than 86,000 agents in the 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. As a publicly traded company, eXp World Holdings provides real estate professionals the unique opportunity to earn equity awards for production goals and contributions to overall company growth. eXp World Holdings and its businesses offer a full suite of brokerage and real estate tech solutions, including its innovative residential and commercial brokerage model, professional services, collaborative tools and personal development. The cloud-based brokerage is powered by Virbela, an immersive 3D platform that is deeply social and collaborative, enabling agents to be more connected and productive. SUCCESS® Enterprises, anchored by SUCCESS® magazine and its related media properties, was established in 1897 and is a leading personal and professional development brand and publication.
For more information, visit https://expworldholdings.com.
Safe Harbor Statement
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. These statements include, but are not limited to, statements about financial performance. Such forward-looking statements speak only as of the date hereof, and the Company undertakes no obligation to revise or update them. 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; outcomes of ongoing litigation; 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 Quarterly Report on Form 10-Q and Annual Report on Form 10-K.
Media Relations Contact:
eXp World Holdings, Inc.
mediarelations@expworldholdings.com
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/690a9ad4-c310-4335-b957-1ec1a54e6117
