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eXp Realty Exceeds 12,000 Real Estate Agents Across North America

Nearly Doubles Agent Count Since Beginning of Year

BELLINGHAM, WASH. — June 19, 2018 — eXp Realty, the largest residential real estate brokerage by geography in North America and a subsidiary of eXp World Holdings, Inc. (NASDAQ: EXPI), today announced that on June 12, the company surpassed 12,000 real estate agents across North America.

Since the beginning of the year, eXp Realty’s agent base has grown by more than 85 percent, nearly doubling agent count. In addition to tremendous growth this year, the company commenced trading on the Nasdaq Global Market exchange under the ticker symbol “EXPI” and expanded into British Columbia, Nebraska, South Dakota and Vermont.

“Our momentum at eXp Realty has continued through the first half of the year, as evidenced by the addition of nearly 6,000 agents, while adding three U.S. states and one Canadian province as we expand geographically. To gracefully manage our growing family, we have increased the number and capabilities of our agent support team and continue to develop our underlying technology framework,” said eXp World Holdings CEO, Chairman and Founder Glenn Sanford. “Every day, I am proud to collaborate alongside this all-star team of agents, brokers and staff, who are truly agile at scale as we work to build a much larger, more mature company.”

About eXp Realty

eXp Realty, LLC, the largest residential real estate brokerage by geography in North America, is a subsidiary of eXp World Holdings, Inc. (NASDAQ: EXPI). eXp Realty (exprealty.com) is changing the way that agents, brokers and consumers work together in an adaptive, sustainable environment. As the leading, national, cloud-based real estate brokerage, eXp Realty provides 24/7 access to collaborative tools, training and socialization for real estate brokers and agents through its virtual campus environment. It is one of the fastest growing real estate brokerage firms in North America with more than 12,000 agents in 49 U.S. states, the District of Columbia and three Canadian provinces. As a publicly traded company, eXp World Holdings, Inc. uniquely offers real estate professionals within its ranks opportunities to earn company stock for production and contributions to overall company growth.

For more information, please visit the company’s website at www.eXpRealty.com.

Connect with eXp Realty and eXp World Holdings:

Media Relations Contact:

Cynthia Nowak
Director of marketing and communications, eXp Realty
360.419.5285 ext. 116
cynthia.nowak@exprealty.com

Investor Relations Contact:

Greg Falesnik
Managing director, MZ Group – MZ North America
949.385.6449
greg.falesnik@mzgroup.us

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eXp Realty Announces May ICON Agents and Teams

BELLINGHAM, WASH. — June 6, 2018 — eXp Realty, the largest residential real estate brokerage by geography in North America and a subsidiary of eXp World Holdings, Inc. (NASDAQ: EXPI), today announced six agents or teams were honored as eXp Realty ICON agents for May 2018.

The eXp Realty ICON Agent Program recognizes agents and teams who achieve certain production goals and represent a good cultural fit for the brokerage. At eXp Realty, our core values shape our culture, so we look at a number of factors such as how ICON agents make positive change in our company and local community.

eXp Realty ICON agents or teams for May are as follows:

  • Carmen and Matthew Bean, Texas
  • Keith Bliss, North Carolina
  • Jeff and Renee Funk, Florida
  • Clayton Gits, Virginia
  • Emily and Mark Metcalf, Mississippi
  • Kevin Mullaney, New Mexico

“It is so exciting to see the ICON Agent Program grow every month. These agents exemplify our core values and are an example of the thousands of eXp Realty agents who excel at being productive business leaders and active in their communities,” said eXp Realty President Vikki Bartholomae.

The eXp Realty ICON Agent program provides each qualified ICON with up to $16,000 in publicly traded eXp World Holdings, Inc. common stock upon the achievement of certain production goals within an agent’s anniversary year. The company’s cap is presently set at $16,000. Through the program, ICONs effectively can earn up to their entire cap amount back in the form of stock. ICON agent qualification details are available on the ICON Agent Program page.

About eXp Realty

eXp Realty, LLC, the largest residential real estate brokerage by geography in North America, is a subsidiary of eXp World Holdings, Inc. (NASDAQ: EXPI). eXp Realty (exprealty.com) is changing the way that agents, brokers and consumers work together in an adaptive, sustainable environment. As the leading, national, cloud-based real estate brokerage, eXp Realty provides 24/7 access to collaborative tools, training and socialization for real estate brokers and agents through its virtual campus environment. It is one of the fastest growing real estate brokerage firms in North America with more than 11,600 agents in 49 U.S. states, the District of Columbia and three Canadian provinces. As a publicly traded company, eXp World Holdings, Inc. uniquely offers real estate professionals within its ranks opportunities to earn company stock for production and contributions to overall company growth.

For more information, please visit the company’s website at www.eXpRealty.com.

Connect with eXp Realty and eXp World Holdings:

Media Relations Contact:

Cynthia Nowak
Director of marketing and communications, eXp Realty
360.419.5285 ext. 116
cynthia.nowak@exprealty.com

Investor Relations Contact:

Greg Falesnik
Managing director, MZ Group – MZ North America
949.385.6449
greg.falesnik@mzgroup.us

 

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eXp Realty Announces May ICON Agents and Teams

Honorees Recognized for Achieving High Production and Cultural Goals

BELLINGHAM, WASH. — June 6, 2018 — eXp Realty, the largest residential real estate brokerage by geography in North America and a subsidiary of eXp World Holdings, Inc. (NASDAQ: EXPI), today announcedsix agents or teams were honored as eXp Realty ICON agents for May 2018.

The eXp Realty ICON Agent Program recognizes agents and teams who achieve certain production goals and represent a good cultural fit for the brokerage. At eXp Realty, our core values shape our culture, so we look at a number of factors such as how ICON agents make positive change in our company and local community.

eXp Realty ICON agents or teams for May are as follows:

  • Carmen and Matthew Bean, Texas
  • Keith Bliss, North Carolina
  • Jeff and Renee Funk, Florida
  • Clayton Gits, Virginia
  • Emily and Mark Metcalf, Mississippi
  • Kevin Mullaney, New Mexico

“It is so exciting to see the ICON Agent Program grow every month. These agents exemplify our core values and are an example of the thousands of eXp Realty agents who excel at being productive business leaders and active in their communities,” said eXp Realty President Vikki Bartholomae.

The eXp Realty ICON Agent program provides each qualified ICON with up to $16,000 in publicly traded eXp World Holdings, Inc. common stock upon the achievement of certain production goals within an agent’s anniversary year. The company’s cap is presently set at $16,000. Through the program, ICONs effectively can earn up to their entire cap amount back in the form of stock. ICON agent qualification details are available on the ICON Agent Program page.

About eXp Realty

eXp Realty, LLC, the largest residential real estate brokerage by geography in North America, is a subsidiary of eXp World Holdings, Inc. (NASDAQ: EXPI). eXp Realty (exprealty.com) is changing the way that agents, brokers and consumers work together in an adaptive, sustainable environment. As the leading, national, cloud-based real estate brokerage, eXp Realty provides 24/7 access to collaborative tools, training and socialization for real estate brokers and agents through its virtual campus environment. It is one of the fastest growing real estate brokerage firms in North America with more than 11,600 agents in 49 U.S. states, the District of Columbia and three Canadian provinces. As a publicly traded company, eXp World Holdings, Inc. uniquely offers real estate professionals within its ranks opportunities to earn company stock for production and contributions to overall company growth.

For more information, please visit the company’s website at www.eXpRealty.com.

Connect with eXp Realty and eXp World Holdings:

Media Relations Contact:

Cynthia Nowak
Director of marketing and communications, eXp Realty
360.419.5285 ext. 116
cynthia.nowak@exprealty.com

Investor Relations Contact:

Greg Falesnik
Managing director, MZ Group – MZ North America
949.385.6449
greg.falesnik@mzgroup.us

The post eXp Realty Announces May ICON Agents appeared first on eXp World Holdings.

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eXp Realty Launches in British Columbia

Introduces Director of Canadian Brokerage Operations

BELLINGHAM, WASH. — June 4, 2018 — eXp Realty, the largest residential real estate brokerage by geography in North America and a subsidiary of eXp World Holdings (NASDAQ: EXPI), today announced its expansion into British Columbia and introduced its Director of Canadian Brokerage Operations Deborah Stevens.

With the launch of British Columbia, eXp Realty now operates in three Canadian provinces, 49 U.S. states and the District of Columbia with more than 11,000 agents across North America.

At eXp Realty, Deborah leads the company’s expansion and brokerage operations across Canada, including compliance and risk management. She has been in the real estate industry for more than 30 years and has experience in many facets, from being a rainmaker of a large real estate team in her early days to owning multiple brokerages. She also has been a regional director as well as an international teacher and business coach.

“We are thrilled to continue our expansion across Canada and open in British Columbia. Much like eXp Realty, British Columbia agents are tech savvy and entrepreneurial, so we are excited to bring this opportunity to local real estate professionals,” said Deborah. “We have a fantastic team in place to support Canadian agents and we are proud to have Peter Pfann leading British Columbia brokerage operations with his extensive background in the industry.”

About eXp Realty

eXp Realty, LLC, the largest residential real estate brokerage by geography in North America and a subsidiary of eXp World Holdings, Inc. (NASDAQ: EXPI) is the holding company for eXp Realty, LLC, . eXp Realty (exprealty.com) is changing the way that agents, brokers and consumers work together in an adaptive, sustainable environment.  As the leading, national, cloud-based real estate brokerage, eXp Realty provides 24/7 access to collaborative tools, training and socialization for real estate brokers and agents through its virtual campus environment. It is one of the fastest growing real estate brokerage firms in North America with more than 11,000 agents in 49 U.S. states, the District of Columbia and the provinces of Alberta and Ontario, Canada. As a publicly traded company, eXp World Holdings, Inc. uniquely offers real estate professionals within its ranks opportunities to earn company stock for production and contributions to overall company growth.

For more information, please visit the company’s website at www.eXpRealty.com.

Connect with eXp Realty and eXp World Holdings:

Media Relations Contact:

Cynthia Nowak
Director of marketing and communications, eXp Realty
360.419.5285 ext. 116
cynthia.nowak@exprealty.com

Investor Relations Contact:

Greg Falesnik
Managing director, MZ Group – MZ North America
949.385.6449
greg.falesnik@mzgroup.us

 

The post eXp Realty Launches in British Columbia appeared first on eXp World Holdings.

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eXp World Holdings is Trading on Nasdaq

BELLINGHAM, WASH. — May 21, 2018 — eXp World Holdings (NASDAQ: EXPI), the holding company for eXp Realty, the largest single owned residential real estate brokerage by geography in North America, announced its common stock will commence trading today on the Nasdaq Global Market under the ticker symbol “EXPI.”

eXp World Holdings is Trading on Nasdaq

“Today marks a special day in the history of eXp Realty. Our move to Nasdaq is a continuation of almost nine years of iterating around the long-term value proposition for real estate professionals. We are proud of our ability to be able to deliver on our promise to our agents, brokers, staff and shareholders who have believed in our vision over the years,” said eXp World Holdings CEO, Chairman and Founder Glenn Sanford.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About eXp World Holdings

eXp World Holdings, Inc. (NASDAQ: EXPI) is the holding company for eXp Realty, LLC, the largest residential real estate brokerage by geography in North America. eXp Realty (exprealty.com) is changing the way that agents, brokers and consumers work together in an adaptive, sustainable environment.  As the leading, national, cloud-based real estate brokerage, eXp Realty provides 24/7 access to collaborative tools, training and socialization for real estate brokers and agents through its virtual campus environment. It is one of the fastest growing real estate brokerage firms in North America with more than 11,000 agents in 49 U.S. states, the District of Columbia and the provinces of Alberta and Ontario, Canada. As a publicly traded company, eXp World Holdings, Inc. uniquely offers real estate professionals within its ranks opportunities to earn company stock for production and contributions to overall company growth.

For more information, please visit the company’s website at www.eXpRealty.com.

Connect with eXp Realty and eXp World Holdings:

Media Relations Contact:

Cynthia Nowak
Director of marketing and communications, eXp Realty
360.419.5285 ext. 116
cynthia.nowak@exprealty.com

Investor Relations Contact:

Greg Falesnik
Managing director, MZ Group – MZ North America
949.385.6449
greg.falesnik@mzgroup.us

 

The post eXp World Holdings is Trading on Nasdaq appeared first on eXp World Holdings.

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eXp World Holdings Reports Record First Quarter 2018 Results, Receives Approval to Uplist to Nasdaq

Revenue Up 188% Year-over-year to $62 Million, Nearly Tripled Agent Count

BELLINGHAM, WASH. — May 15, 2018 — eXp World Holdings (OTCQB: EXPI), the holding company for eXp Realty, the largest residential real estate brokerage by geography in North America, today announced financial results for the first quarter ended March 31, 2018.

The company also announced that it has received approval to list the company’s common stock on the Nasdaq Global Market. Once the final paperwork with Nasdaq is complete, shares of the company’s common stock will begin trading on The Nasdaq Stock Market next week.

Q1 2018 earnings

Q1 2018 Highlights

  • $62 million in revenue, 188% increase year-over-year
  • Nearly tripled agent count during same time a year ago
  • Transaction volume closed increased 188% to $2.3 billion

“During the last year, eXp Realty became the largest residential real estate brokerage by geography in North America and nearly tripled agent count. Our record results are fueled by our tremendous agent and location growth,” said eXp World Holdings CEO, Chairman and Founder Glenn Sanford. “Receiving approval to list on Nasdaq brings us one step closer to enhancing the value we deliver to our agents and shareholders, and we are excited to start trading on Nasdaq very soon.”

First Quarter 2018 Financial Summary

  • Revenue increased 188% to a record $62 million, from $21.5 million in the first quarter of 2017. This represents 37% growth quarter-over-quarter, from $45.4 million in the fourth quarter of 2017.
  • Gross margin grew 144% to $6.3 million, compared to $2.6 million in the first quarter of 2017.
  • Net loss was $10.7 million, or $(0.19) per diluted share, compared to net loss of $2.9 million, or $(0.05) per diluted share, in the first quarter of 2017.
  • Adjusted EBITDA (a non-GAAP financial measure) increased significantly to $1.5 million in the first quarter of 2018, compared to $71,999 in the first quarter of 2017.
  • Cash flow from operations increased significantly to $3.9 million, compared to $157,286 in the first quarter of 2017.

First Quarter Consolidated 2018 Operating and Business Highlights

  • The number of agents and brokers on the eXp Realty platform nearly tripled year-over-year, growing to 9,290 at the end of the first quarter of 2018 from 3,118 in the same quarter a year ago. This represents 43% sequential growth, compared to 6,511 at the end of the fourth quarter of 2017. In April, eXp Realty crossed the 10,000-agent mark.
  • Residential transaction sides closed for the first quarter of 2018 was 9,473, an increase of 176% compared to 3,432 during the first quarter of 2017. This represents 17% sequential growth, compared to 8,080 during the fourth quarter of 2017.
  • Residential transaction volume closed for the first quarter of 2018 was $2.3 billion, an increase of 188%, compared to $807.6 million during the first quarter of 2017. This represents 20% sequential growth, compared to $1.9 billion during the fourth quarter of 2017.

Use of Non-GAAP Financial Measures

To provide investors with additional information regarding our financial results, this press release includes references to Adjusted EBITDA, a non-GAAP financial measure. We view Adjusted EBITDA as an operating performance measure and, as such, we believe that the GAAP financial measure most directly comparable to it is net income (loss). We define Adjusted EBITDA as net income excluding interest, income taxes, depreciation, amortization, and stock based compensation. We believe that Adjusted EBITDA provides us an important measure of operating performance and enhances comparability while providing investors with useful insight into the underlying trends of the business. Our use of Adjusted EBITDA has limitations as an analytical tool, and this measure should not be considered in isolation or as a substitute for an analysis of our results as reported under GAAP, as the excluded items may have significant effects on our operating results and financial condition. Additionally, our measure of Adjusted EBITDA may differ from other companies’ measure of Adjusted EBITDA. When evaluating our performance, Adjusted EBITDA should be considered with other financial performance measures, including various cash flow metrics, net income and other GAAP results. In the future, we may disclose different non-GAAP financial measures in order to help our investors and others more meaningfully evaluate and compare our future results of operations to our previously reported results of operations.

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. Such forward-looking statements speak only as of the date hereof, and the company undertakes no obligation to revise or update them. These statements include, but are not limited to, statements about the company’s expansion, revenue growth, operating results, financial performance and net income changes. 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; 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 Annual Report on Form 10-K.

About eXp World Holdings

eXp World Holdings, Inc. (OTCQB: EXPI) is the holding company for eXp Realty, LLC, the largest residential real estate brokerage by geography in North America. eXp Realty (exprealty.com) is changing the way that agents, brokers and consumers work together in an adaptive, sustainable environment. It is an agent-designed and agent-owned company. As the leading, national, cloud-based real estate brokerage, eXp Realty provides 24/7 access to collaborative tools, training and socialization for real estate brokers and agents through its virtual campus environment. It is one of the fastest growing real estate brokerage firms in North America with nearly 11,000 agents in 49 U.S. states, the District of Columbia and the provinces of Alberta and Ontario, Canada. As a publicly traded company, eXp World Holdings, Inc. uniquely offers real estate professionals within its ranks opportunities to earn company stock for production and contributions to overall company growth.

For more information, please visit the company’s website at www.eXpRealty.com.

Reported Consolidated Results

Connect with eXp Realty and eXp World Holdings:

Media Relations Contact:

Cynthia Nowak
Director of marketing and communications, eXp Realty
360.419.5285 ext. 116
cynthia.nowak@exprealty.com

Investor Relations Contact:

Greg Falesnik
Managing director, MZ Group – MZ North America
949.385.6449
greg.falesnik@mzgroup.us

 

The post eXp World Holdings Reports Record First Quarter 2018 Results, Receives Approval to Uplist to Nasdaq appeared first on eXp World Holdings.

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eXp World Holdings, Inc. to Attend the Oppenheimer Emerging Growth Conference in New York City on May 15th

SAN DIEGO, CA – May 14, 2018 – eXp World Holdings (OTCQB: EXPI), the holding company for eXp Realty, the largest residential real estate brokerage by geography in North America, today announced that management will attend the Oppenheimer Emerging Growth Conference, being held on May 15, 2018 at the InterContinental New York Barclay Hotel in New York City.

The Company’s management will host one-on-one meetings throughout the day. Conference participation is by invitation only and registration is mandatory. For more information on the conference or to schedule a one-on-one meeting, please contact your Oppenheimer representative.

About eXp World Holdings, Inc.

eXp World Holdings, Inc. (OTCQB: EXPI) is the holding company for eXp Realty, LLC, the largest residential real estate brokerage by geography in North America. eXp Realty (exprealty.com) is changing the way that agents, brokers and consumers work together in an adaptive, sustainable environment. As the leading, national, cloud-based real estate brokerage, eXp Realty provides 24/7 access to collaborative tools, training and socialization for real estate brokers and agents through its virtual campus environment. It is one of the fastest growing real estate brokerage firms in North America with nearly 11,000 agents in 49 U.S. states, the District of Columbia and the provinces of Alberta and Ontario, Canada. As a publicly traded company, eXp World Holdings, Inc. uniquely offers real estate professionals within its ranks opportunities to earn company stock for production and contributions to overall company growth.

For more information, please visit the company’s website at www.eXpWorldHoldings.com.

Connect with eXp Realty and eXp World Holdings:

Media Relations Contact:

Cynthia Nowak
Director of marketing and communications, eXp Realty
360.419.5285 ext. 116
cynthia.nowak@exprealty.com

Investor Relations Contact:

Greg Falesnik
Managing director, MZ Group – MZ North America
949.385.6449
greg.falesnik@mzgroup.us

The post eXp World Holdings, Inc. to Attend the Oppenheimer Emerging Growth Conference in New York City on May 15th appeared first on eXp World Holdings.

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eXp Realty Adds Top Agents Across Country

BELLINGHAM, WASH. — April 30, 2018 — eXp Realty, the largest residential real estate brokerage by geography in North America and a subsidiary of eXp World Holdings, Inc. (OTCQB: EXPI), today introduced new top agents to the eXp Realty family.

eXp Realty Adds Top Agents Across Country, April 2018

More than 10,000 top agents and teams have realized the benefits of joining eXp Realty. The following are some of the new eXp Realty agents from across the country:

    • Ella Blaine, Maryland and Washington, D.C.: Ella is a real estate coach and the founder of Real Estate Ladies Rock, a group of nearly 17,000 women who are positive, supportive and willing to inspire, motivate and encourage each other. She takes pride in her mission of “no agents left behind.”
    • The Jeff Cook Team, South Carolina: Jeff was the No. 1 agent at his local brokerage from 2007 through 2010. In 2011, Jeff became the No. 1 residential resale agent in the Charleston market and still holds that title today. The team is No. 27 in the nation and No. 1 in South Carolina for number of real estate transactions. Jeff is a regular guest on local talk shows and radio stations.
    • Warren Rosegreen, Nevada: Warren has been a real estate agent since 2003. Before that, he had a successful basketball career, including several professional seasons internationally and touring with the Harlem Globetrotters. Warren is among the top 100 players in UNLV basketball history and also serves as a mentor to a group of young players.

“Looking at some of the agents and teams who joined us this month, it is clear our value proposition of offering every agent the unique opportunity to become a shareholder in their own company is resonating with top agents and teams,” said eXp Realty CEO Jason Gesing. “We are excited to welcome all of our new agents and teams to our more than 10,000-strong eXp Realty family.”

About eXp Realty

eXp Realty, LLC, the largest residential real estate brokerage by geography in North America, is a subsidiary of eXp World Holdings, Inc. (OTCQB: EXPI). eXp Realty (exprealty.com) is changing the way that agents, brokers and consumers work together in an adaptive, sustainable environment. It is an agent-designed and agent-owned company. As the leading, national, cloud-based real estate brokerage, eXp Realty provides 24/7 access to collaborative tools, training and socialization for real estate brokers and agents through its virtual campus environment. It is one of the fastest growing real estate brokerage firms in North America with more than 10,000 agents in 47 U.S. states, the District of Columbia and the provinces of Alberta and Ontario, Canada. As a publicly traded company, eXp World Holdings, Inc. uniquely offers real estate professionals within its ranks opportunities to earn company stock for production and contributions to overall company growth.

For more information, please visit the company’s website at www.eXpRealty.com.

Connect with eXp Realty and eXp World Holdings:

Media Relations Contact:

Cynthia Nowak
Director of marketing and communications, eXp Realty
360.419.5285 ext. 116
cynthia.nowak@exprealty.com

Investor Relations Contact:

Greg Falesnik
Managing director, MZ Group – MZ North America
949-385-6449
greg.falesnik@mzgroup.us

The post eXp Realty Adds Top Agents Across Country appeared first on eXp World Holdings.

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eXp Realty Surpasses 10,000 Real Estate Agents Across North America

Doubles Agent Count in Less Than Seven Months

BELLINGHAM, WASH. — April 18, 2018 — eXp Realty, the largest residential real estate brokerage by geography in North America and a subsidiary of eXp World Holdings, Inc. (OTCQB: EXPI), today announced that the company surpassed 10,000 real estate agents across North America. This important company milestone represents a doubling of agent count in less than seven months. Since the beginning of the year the agent base of eXp Realty has grown by more than 54 percent.

This comes on the heels of being honored as No. 7 for closed transactions in 2017 on the REAL Trends 500, which ranks the 500 largest brokers in the United States; and No. 8 for closed transactions in 2017 on RISMedia’s Power Broker Top 500, which ranks the nation’s top 500 residential real estate firms.

“When we started this journey, a few of us dreamed that someday we’d reach this level. It is exciting for me to say that today we have grown faster than we imagined and I am truly honored to be in business with more than 10,000 like-minded real estate agents and brokers who chose to build their future with eXp,” said eXp World Holdings CEO, Chairman and Founder Glenn Sanford.

“Our culture of collaboration and shared ownership have allowed us to scale in ways that many of our bricks-and-mortar competitors can only dream of. In addition, the team we have assembled, especially during the last few years, has put us in a great position to be able to continue to iterate and grow. With the recent additions of Stacey Onnen to lead brokerage operations and Kimberly Ryan to grow our training and education platform as well as the continued development of our underlying technology framework, we feel confident about our ability to be agile at scale.”

About eXp Realty

eXp Realty, LLC, the largest residential real estate brokerage by geography in North America, is a subsidiary of eXp World Holdings, Inc. (OTCQB: EXPI). eXp Realty (exprealty.com) is changing the way that agents, brokers and consumers work together in an adaptive, sustainable environment. It is an agent-designed and agent-owned company. As the leading, national, cloud-based real estate brokerage, eXp Realty provides 24/7 access to collaborative tools, training and socialization for real estate brokers and agents through its virtual campus environment. It is one of the fastest growing real estate brokerage firms in North America with more than 10,000 agents in 47 U.S. states, the District of Columbia and the provinces of Alberta and Ontario, Canada. As a publicly traded company, eXp World Holdings, Inc. uniquely offers real estate professionals within its ranks opportunities to earn company stock for production and contributions to overall company growth.

For more information, please visit the company’s website at www.eXpRealty.com.

Connect with eXp Realty and eXp World Holdings:

Media Relations Contact:

Cynthia Nowak
Director of marketing and communications, eXp Realty
360.419.5285 ext. 116
cynthia.nowak@exprealty.com

Investor Relations Contact:

Greg Falesnik
Managing director, MZ Group – MZ North America
949-385-6449
greg.falesnik@mzgroup.us

 

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eXp World Holdings Releases Select 2017 Financial Results, Submits Application to Uplist to Nasdaq

BELLINGHAM, WASH. — April 4, 2018 — eXp World Holdings (OTCQB: EXPI), the holding company for eXp Realty, the largest residential real estate brokerage by geography in North America, today announced selected financial results for the full year ended Dec. 31, 2017.

2017 Financial Highlights, eXp World Holdings

Unaudited Financial Highlights for Fiscal Year 2017

  • Revenue recognized was $156.1 million.
  • Commissions and other agent related costs were $139.6 million.
  • Gross margin increased 132% to $16.5 million from $7.1 million in 2016
  • Cash flow from operations increased 302% to $4.1 million, compared to $1.0 million in 2016.
  • Our cash balance increased 177% to $4.7M, compared to $1.7M in 2016.

2017 Operating and Business Highlights

  • The number of agents and brokers on the eXp Realty platform increased by 171% to 6,511 at the end of 2017, compared to 2,401 at the end of 2016.
  • Residential transaction sides closed for 2017 increased 212% to 25,299, compared to 8,100 in 2016.
  • Residential transaction volume closed for 2017 increased 209% to $6.1 billion, compared to $2.0 billion in 2016.
  • Expanded to 47 U.S. states and two Canadian provinces, compared to 42 U.S. states and one Canadian province at the end of 2016.

eXp World Holdings also announced that it has applied to list the company’s common stock on the Nasdaq Global Market. If the company’s listing application is accepted, shares of the company’s common stock would begin trading on The Nasdaq Stock Market. The uplisting is subject to approval, in part, based on the company’s ability to meet Nasdaq minimum listing requirements.

“We are pleased with the growth in revenue driven by increased agent and transaction count, and internal efficiencies,” said eXp World Holdings CEO, Chairman and Founder Glenn Sanford. “Listing on Nasdaq is an exciting next step for eXp World Holdings shareholders and investors.”

In addition, the company filed an extension to delay the filing of its 2017 Annual Report on Form 10-K in order to consult with the Securities and Exchange Commission’s Office of the Chief Accountant in relation to accounting treatment for employee-based equity instruments granted prior to the company becoming public. Further disclosure can be found on Form 12b-25 filed with the SEC and posted on the company’s website. The delayed filing has no impact on eXp Realty’s agents, gross revenue, or the operations of the business and we expect to file the 2017 Annual Report by April 17, 2018. If the proposed change to the way the employee-equity instruments, prior to the company becoming public, is approved, the company’s financial statements also would be restated to use a fair value treatment instead of the previously relied upon intrinsic value treatment, and would remove the large variable swings previously included in the general and administrative expense category due to an underlying fluctuation in stock price.

About eXp World Holdings

eXp World Holdings, Inc. (OTCQB: EXPI) is the holding company for eXp Realty, LLC, the largest residential real estate brokerage by geography in North America. eXp Realty (exprealty.com) is changing the way that agents, brokers and consumers work together in an adaptive, sustainable environment. It is an agent-designed and agent-owned company. As the leading, national, cloud-based real estate brokerage, eXp Realty provides 24/7 access to collaborative tools, training and socialization for real estate brokers and agents through its virtual campus environment. It is one of the fastest growing real estate brokerage firms in North America with more than 9,300 agents in 47 U.S. states, the District of Columbia and the provinces of Alberta and Ontario, Canada. As a publicly traded company, eXp World Holdings, Inc. uniquely offers real estate professionals within its ranks opportunities to earn company stock for production and contributions to overall company growth.

For more information, please visit the company’s website at www.eXpRealty.com.

Connect with eXp Realty and eXp World Holdings:

Media Relations Contact:

Cynthia Nowak
Director of marketing and communications, eXp Realty
360.419.5285 ext. 116
cynthia.nowak@exprealty.com

Investor Relations Contact:

Greg Falesnik
Managing director, MZ Group – MZ North America
949.385.6449
greg.falesnik@mzgroup.us

 

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