Update: Operation Payment Express Success

Many of you have heard about Operation Payment Express, eXp’s initiative to speed up commission payments to our agents and create standard payment procedures. One of our commitments was to initiate payment on 90 percent of core transactions within one business day of closing by the end of June. We have great news to share today …

We reached — and are sustaining — our goal more than one week early!

We also learned a lot along the way, and here’s what we’re doing about it:

  • Created a new team focused on driving velocity of payments by improving the settlement and disbursement authorization processes.
  • Hired four settlement specialists and two disbursement authorization specialists (now there are three!).
  • Enabled team agility to handle end-of-month transaction volume.
  • Now we are looking at other ways to improve commission payment speed and accuracy.

Thank you for your patience and feedback. We look forward to sharing more progress in the coming weeks.