eXp Realty News

eXp Realty, AGNT and Glenn Sanford Settle Agent's Sexual Assault Suit as Trial of Two Former Agents Opens

Npros.com | 10/19/2026

LOS ANGELES, California - October 19, 2026

eXp Realty, its parent company AGNT, Inc., and founder Glenn Sanford have reached a confidential settlement with Anya Roberts, the eXp agent whose federal lawsuit accused two former eXp agents of drugging and sexually assaulting her at company recruiting events and claimed the brokerage and Sanford knowingly benefited from that conduct. The agreement removes the corporate defendants from the case less than a month before they were scheduled to face a jury.

Roberts disclosed the agreement in a one-page partial dismissal filed Sunday, October 18, in the U.S. District Court for the Central District of California, one day before the first of two scheduled trials was set to begin. The filing states that Roberts and eXp Realty LLC have reached a confidential settlement in principle that will fully and finally resolve all of her claims against eXp Realty, Sanford, and AGNT, formerly known as eXp World Holdings. It adds that the settlement concerns the eXp defendants only and that Roberts intends to keep litigating against the other defendants. Dismissal papers are expected within 15 days once the settlement agreement is finalized. The terms were not disclosed.

In a statement, an eXp spokesperson said the company and Roberts were pleased to have resolved the lawsuit, that eXp has consistently denied the claims, and that the resolution is not an admission of wrongdoing. The company said Roberts has remained an eXp agent throughout the litigation and expects to stay affiliated with the brokerage, and that eXp is committed to an agent community where every agent is safe, respected, and heard.

Roberts filed suit in December 2023. She alleged that then-eXp agents David Golden and Michael Bjorkman drugged and sexually assaulted her at eXp recruiting events in February and March 2020, and that eXp Realty and Sanford knowingly benefited from what she described as sex trafficking by the two men. Golden and Bjorkman, who are no longer affiliated with eXp, have denied the allegations. The case, Roberts v. eXp Realty, LLC, No. 2:23-cv-10492, is before U.S. District Judge André Birotte Jr.

In August, Judge Birotte split Roberts' claims into two jury trials and narrowed the case against the corporate defendants. His August 20 order released AGNT from all of Roberts' claims and granted Sanford summary judgment on vicarious liability and on negligent hiring, supervision and retention. That left Sanford and eXp Realty facing beneficiary liability claims under the federal Trafficking Victims Protection Reauthorization Act, with eXp Realty also facing vicarious liability and negligent hiring, supervision and retention claims. Those claims were to be tried beginning November 16. The settlement resolves them.

The first trial, against Golden and Bjorkman alone, opened Monday, October 19, at the federal courthouse in Los Angeles. Jurors will consider Roberts' claims of sexual battery, civil battery and intentional infliction of emotional distress tied to events on or about March 10 to 13, 2020, in Florida. Roberts had earlier voluntarily dropped sex trafficking claims against the two former agents. The plaintiff estimated the trial would last five or six court days over the weeks of October 19 and October 26. Roberts settled separately in January 2026 with Brent Gove, the eXp team leader who hosted the recruiting events.

The settlement does not end eXp's exposure to the allegations. A related federal case known as Acevedo, brought in early 2023 by several plaintiffs who made similar accusations against Golden and Bjorkman and who allege the company and Sanford turned a blind eye because of the recruiting income the two men generated through eXp's revenue share program, remains pending before the same judge, with eXp Realty, AGNT and Sanford among the defendants. The same law firms represent the plaintiffs in both cases. A shareholder derivative suit in Delaware accusing Sanford and other directors of ignoring sexual misconduct has also been allowed to proceed.

The settlement comes weeks after a leadership change at the top of the company. Sanford stepped down as chief executive of AGNT earlier in October and was succeeded by Leo Pareja; Sanford remains chairman of the board.

eXp Realty is a cloud-based residential real estate brokerage that pays agents revenue share for recruiting other agents, a structure that has drawn comparisons to network marketing. Its parent, AGNT, Inc., trades on Nasdaq.

eXp Founder Glenn Sanford Steps Down as AGNT CEO, Leo Pareja Named Successor

Press Release | 10/8/2026

BELLINGHAM, Wash. â€" October 8, 2026

AGNT, Inc., the Nasdaq-listed parent of eXp Realty, has named eXp Realty Chief Executive Officer Leo Pareja as its new CEO, effective October 8. He succeeds founder Glenn Sanford, who started the company in 2009 and will remain chairman of the board.

According to the company's Form 8-K, Sanford confirmed to the board on October 2 that he was recommending Pareja as his successor, and the board appointed him by unanimous written consent on October 6. Sanford stepped down as CEO and from all other employment positions with the company and its subsidiaries when the change took effect. He will receive the standard non-employee director compensation package, although the company said he is not expected to qualify as an independent director. AGNT also said it expects to sign a consulting services agreement with him.

"After nearly two decades leading this company, I believe now is the right time to take the next step in our evolution," Sanford said. "Leo has earned this moment." Board Vice Chairman Randall Miles called the handoff "the product of years of deliberate, thoughtful succession planning by our Board."

Pareja, 44, joined eXp Realty in July 2022 as President of Affiliated Services, became Chief Strategy Officer that November and was named CEO of eXp Realty in April 2024, when he first succeeded Sanford in that role. He led the May 2026 acquisition of the NextHome real estate franchise, which moved the company into franchising. Before joining eXp, he co-founded the real estate technology company Remine, Inc. and served as its CEO until it was sold to MLS Technology Holdings in 2021.

Under a new five-year employment agreement, Pareja's annual base salary rises to 1.8 million dollars. He will also receive a promotional equity grant of a performance-based stock option covering 1,060,814 shares at target, plus 573,588 restricted stock units that vest quarterly over three years. Starting in 2027 he is eligible for annual equity awards, valued at about 4.9 million dollars for that first year.

"My focus now is making sure every agent on our platform has the tools, the technology, and the ownership stake to compete and win in an AI-native market," Pareja said.

The change follows a busy year of restructuring at the Bellingham, Washington, company. Formerly known as eXp World Holdings, it adopted the AGNT ticker in May, formally renamed itself AGNT, Inc. in June and moved its state of incorporation from Delaware to Texas. Along with eXp Realty and NextHome, AGNT owns the virtual collaboration platform FrameVR.io and the personal development brand SUCCESS Enterprises.

eXp Parent AGNT Completes 32 Million Dollar Share Repurchase from Gratitude Trust

SEC Filing | 9/14/2026

AGNT, Inc., parent of eXp Realty, said it completed on September 14, 2026, the repurchase of 8,693,290 shares of common stock from Frank Selden as trustee of the Gratitude 2022 Trust for an aggregate purchase price of about 31.99 million dollars, or 3.68 dollars per share.

The deal closed under a stock purchase agreement dated September 3, 2026. AGNT said the trust sold the shares to meet time-sensitive tax and estate administration requirements following the death of Penny Sanford.

The repurchase reduces shares outstanding and was disclosed in a Form 8-K as a completed other event following the earlier agreement filing.

eXp Parent AGNT Reports Record Second Quarter Revenue of 1.4 Billion Dollars

Press Release | 8/4/2026

BELLINGHAM, Wash. -- August 4, 2026

AGNT, Inc., formerly eXp World Holdings and parent of eXp Realty, reported second-quarter 2026 revenue of 1.4 billion dollars, up 11% from 1.3 billion dollars a year earlier, calling it a record revenue quarter.

Net loss was 2.7 million dollars, or 0.02 dollars per diluted share. Adjusted EBITDA was 25.7 million dollars, up 129% from 11.2 million dollars. Agent count rose to 132,497, and real estate sales volume increased 15% to 60.5 billion dollars. Gross profit was about 97 million dollars, up 2% from 95.0 million dollars.

The company narrowed full-year 2026 adjusted EBITDA guidance to a range of 50 million to 60 million dollars and guided third-quarter revenue between 1.35 billion and 1.45 billion dollars.

eXp World Holdings Completes Rename to AGNT and Redomestication to Texas

Press Release | 6/11/2026

BELLINGHAM, Wash. -- June 11, 2026

AGNT, Inc., formerly eXp World Holdings, said it has completed its corporate transformation, officially renaming the holding company AGNT, Inc. and redomesticating from Delaware to Texas.

The company had already begun trading under the AGNT ticker in May after acquiring NextHome. Founder, chairman and CEO Glenn Sanford said the new name formalizes an agent-centric multi-model platform spanning eXp Realty, NextHome, FrameVR.io and SUCCESS Enterprises. eXp Realty CEO Leo Pareja said the holding-company identity matches the brokerage's agent-first mission.

AGNT said Texas law expressly allows directors and officers to consider agent and other constituency interests when exercising fiduciary duties. Stockholders approved the redomestication at the May 8 annual meeting after a special committee process lasting more than a year.

eXp Realty Promotes Wendy Forsythe to Chief Operating Officer

Press Release | 6/9/2026

BELLINGHAM, Wash. -- June 9, 2026

eXp Realty, the core brokerage subsidiary of eXp World Holdings (Nasdaq: AGNT), said it has promoted Wendy Forsythe to chief operating officer, succeeding Patrick O'Neill, who is departing.

Forsythe had served two years as chief marketing officer. She previously was COO at HomeSmart International, president of Compass's California and Hawaii region, and chief strategy officer at Fathom Holdings, and earlier owned a brokerage after starting as an agent. In the new role she will oversee operations, technology integration, agent programs and transaction support, while providing transitional marketing leadership.

eXp Realty CEO Leo Pareja said Forsythe's field experience and record scaling brokerages fit the company's next chapter as it integrates NextHome and expands its multi-model platform.

Court Grants Preliminary Approval of Tuccori Buyer Settlement Including eXp

SEC Filing | 5/26/2026

eXp World Holdings said the U.S. District Court for the Northern District of Illinois on May 26, 2026, granted preliminary approval of the Tuccori buyer-side commission settlement, including the company's participation under an April 14, 2026, opt-in agreement.

eXp is also a defendant in the related Batton nationwide home-buyer class action. The company said the Tuccori settlement remains subject to final court approval and any appeals. The filing did not restate a settlement dollar amount for eXp's opt-in. Separately, eXp earlier funded the first half of its 34 million dollar sell-side Hooper antitrust settlement after final approval in March.

The buyer-side cases follow industry commission litigation that has driven practice changes and cash settlements across large U.S. brokerages.

eXp World Holdings First Quarter Revenue Rises 5 Percent to 1.0 Billion Dollars

Press Release | 5/11/2026

BELLINGHAM, Wash. -- May 11, 2026

eXp World Holdings reported first-quarter 2026 revenue of 1.0 billion dollars, up 5% from 954.9 million dollars a year earlier, and adjusted EBITDA of 4.1 million dollars, up 88%.

Net loss narrowed to 5.1 million dollars, or 0.03 dollars per diluted share, from 11.0 million dollars, or 0.07 dollars per share. Operating expenses fell 3% to 84.1 million dollars. Founder, chairman and CEO Glenn Sanford tied the quarter to the NextHome acquisition and the AGNT ticker, saying the company is building a multi-model platform for agents. eXp Realty CEO Leo Pareja said agent productivity continued to rise.

CFO Jesse Hill said the NextHome deal used cash on hand with zero debt. The board had declared a 0.05 dollar second-quarter dividend payable June 5 to holders of record May 22.

eXp World Holdings Acquires NextHome and Will Trade Under AGNT Ticker

Press Release | 5/7/2026

BELLINGHAM, Wash. -- May 7, 2026

eXp World Holdings said it has acquired NextHome, Inc., a national real estate franchise, and that its Nasdaq ticker will change from EXPI to AGNT beginning at the open on May 8, 2026.

The company said the deal transforms its cloud-brokerage infrastructure into a multi-model platform that can support both agent-centric brokerage and franchise brands under one holding company. Shares will keep the same CUSIP, and no shareholder action is required for the ticker change. Management said the acquisition was funded with cash and no debt. NextHome results are to be reflected from the May 6, 2026, closing date.

eXp said NextHome gives agents and franchise owners another path onto its technology and services platform alongside eXp Realty, FrameVR.io and SUCCESS Enterprises.

Court Grants Final Approval of eXp Realty's Nationwide Commission Antitrust Settlement

SEC Filing | 3/31/2026

eXp World Holdings, the parent of eXp Realty, disclosed in a Form 8-K filed with the Securities and Exchange Commission that the U.S. District Court for the Northern District of Georgia granted final approval on March 31, 2026, of its nationwide settlement of the commission-related class action brought by 1925 Hooper LLC and other home sellers.

The settlement agreement, entered into on December 9, 2024, by eXp World Holdings and several eXp Realty subsidiaries, resolves the case, Case No. 1:23-cv-05392-SEG, on a nationwide basis. Under the deal, eXp agreed to pay 34 million dollars into a qualified settlement fund and to change certain business practices.

The company said the settlement will become effective when the time to appeal the judgment expires or, if an appeal is filed, upon its final resolution. The settlement is not an admission of liability by any party.

eXp Realty Launches in Luxembourg

Press Release | 3/5/2026

CITY OF LONDON, United Kingdom -- March 5, 2026

eXp Realty said it has launched operations in Luxembourg, led by Karim Layouni, who has more than 12 years of real estate experience in the country. Layouni began his career in the RE/MAX Luxembourg network, where he worked as a broker and manager across 14 offices and about 140 agents, and later joined RE/MAX Belgium as business development manager before becoming its chief operating officer.

The launch follows seven new markets opened by eXp Realty in 2025, including the Netherlands, Turkiye, Peru, Japan, Ecuador, South Korea and Romania, as the cloud-based brokerage pursues a goal of operating in 50 countries by 2030. The company said it is focusing its 2026 international expansion on mature, professional markets.

"Traditional, standardised brokerage models are reaching their limits," Layouni said. "Our goal is not simply to grow quickly, but to grow well."

eXp Realty Parent Posts Full-Year Revenue of 4.6 Billion; Q4 Revenue 933 Million

Press Release | 2/28/2023

BELLINGHAM, Wash., February 28, 2023 -- eXp World Holdings, Inc., parent of eXp Realty, reported full-year 2022 revenue of 4.6 billion dollars, up 22 percent, and fourth-quarter revenue of 933 million dollars. Full-year net income was 15.4 million dollars, or 0.10 dollars per diluted share; the fourth quarter was a net loss of 7.2 million dollars, or 0.05 dollars per share. Adjusted EBITDA was 60.5 million dollars for the year and 3.6 million dollars in the fourth quarter.

Agents and brokers on the platform rose 21 percent to 86,203 at year-end. Closed transactions rose 15 percent to 511,859 for the year, while fourth-quarter transactions fell 13 percent. Cash and cash equivalents were 121.6 million dollars with no debt. The company introduced segment reporting highlighting a profitable North American Realty segment.

Founder Glenn Sanford, who had returned as eXp Realty CEO in January, said the model was built for varying market conditions and that the company would keep investing in the agent experience. The board declared a first-quarter 2023 cash dividend of 0.045 dollars per share.

eXp Founder Glenn Sanford Returns as eXp Realty CEO; Jason Gesing Named Chief Industry Relations Officer

Press Release | 1/3/2023

BELLINGHAM, Wash., January 3, 2023 -- eXp World Holdings, Inc. said founder, chairman and chief executive Glenn Sanford will return as chief executive officer of eXp Realty in addition to his holding-company responsibilities. Jason Gesing, who had been CEO of eXp Realty, was appointed chief industry relations officer of eXp World Holdings, an expanded role covering industry relations, metaverse advisory and ESG initiatives while remaining on the board.

Sanford said the moves intensify focus on building the next generation at eXp Realty amid challenges in the real estate market and on iterating the agent value proposition. Gesing joined the company in 2010 and helped establish eXp as one of the fastest-growing real estate companies during his tenure as Realty CEO.

eXp Realty is the cloud-based brokerage unit of eXp World Holdings and pays agents revenue share and equity incentives for recruiting and production.

eXp Realty Opens Brokerage Operations in Dubai

Press Release | 12/21/2022

eXp Realty opened operations in Dubai, its 24th market and the sixth new market launched in 2022. The company has more than 86,000 agents worldwide.

Dounia Fadi, a Dubai broker with more than 18 years of experience, will lead the operation. Chief growth officer Michael Valdes said Dubai's multicultural population and diverse economy give eXp a strong entry point into the United Arab Emirates for its agent-centric model. The company first announced plans to enter Dubai in May.

eXp Realty Names Leo Pareja Chief Strategy Officer

Press Release | 11/15/2022

eXp Realty named Leo Pareja chief strategy officer. Pareja joined the company in June 2022 as president of affiliated services, where he launched the Revenos referral division and the eXp Solutions business.

Pareja previously co-founded the real estate technology company Remine and served as national president of the National Association of Hispanic Real Estate Professionals. In the new role he will help guide the brokerage's long-term growth strategy.

eXp Realty Opens Brokerage Operations in Poland

Press Release | 11/8/2022

eXp Realty opened operations in Poland, its 23rd market and the fifth new country launched in 2022 after the Dominican Republic, Greece, New Zealand and Chile. The company has more than 86,000 agents worldwide.

Dorota Chomuntowska will lead the Poland operation. Chief growth officer Michael Valdes said Poland complements eXp's existing European presence and that the company is excited to empower Polish agents with its model. The company had announced its plan to enter Poland in September.

eXp Realty Parent Posts Record Third Quarter Revenue of 1.2 Billion

Press Release | 11/2/2022

eXp World Holdings reported record third-quarter 2022 revenue of 1.2 billion dollars, up 12 percent from a year earlier. Gross profit rose 17 percent to 93.1 million dollars, while net income fell to 4.4 million dollars, or 0.03 dollars per share, from 23.8 million dollars. Adjusted EBITDA was 12.3 million dollars.

Agent count rose 30 percent to 84,911 and transactions increased 6 percent to 138,354. The company repurchased 59.8 million dollars of stock during the quarter, held 134.5 million dollars in cash, and declared a fourth-quarter dividend of 0.045 dollars per share.

Chairman and chief executive Glenn Sanford and chief financial officer Jeff Whiteside said the company continued to gain agents and share in a slowing housing market.

eXp Realty Grows to 85,000 Agents, Up 30 Percent in a Year

Press Release | 10/10/2022

eXp Realty said it surpassed 85,000 real estate agents worldwide, up 30 percent from 65,286 agents at the start of October 2021. The cloud-based brokerage, which pays agents revenue share and equity incentives for recruiting and production, said growth continued despite a slowing housing market.

Recent additions included the Lawson Team of 15 agents from Engel & Volkers, the Ige Johnson Group of 35 agents from RE/MAX, which closed 397 transactions worth 93 million dollars in 2021, and the Incorvaia Team of 31 agents from Keller Williams, which recorded 731 transactions and 219 million dollars in volume.

Founder and chief executive Glenn Sanford said agents are choosing eXp for its technology, collaboration and ownership opportunities.

eXp Realty Opens Brokerage Operations in Chile

Press Release | 9/8/2022

eXp Realty said it opened brokerage operations in Chile, expanding its South American presence alongside Brazil and Colombia. The company said Chile became its 22nd market, with more than 84,000 agents worldwide at the time of the announcement. Virginia Restrepo was named to lead the Chile operation.

The opening followed a May plan to enter Chile and Dubai and earlier 2022 launches including New Zealand. eXp said it would hire local leadership and onboard agents onto its cloud-based platform. Management framed Chile as a strategic CALA expansion intended to deepen share in Spanish-speaking markets while agents retain equity-participation opportunities typical of the eXp model.

eXp Realty Parent Posts Record Second Quarter Revenue of 1.4 Billion

Press Release | 8/3/2022

eXp World Holdings, parent of eXp Realty, said second-quarter 2022 revenue rose 42 percent to 1.415 billion dollars. Gross profit rose 34 percent to 107.3 million dollars. Net income was 9.4 million dollars, or 6 cents per diluted share, versus 37.0 million dollars a year earlier. Adjusted EBITDA was 26.9 million dollars. Agents and brokers on the platform rose 42 percent to 82,856, with closed transactions up 30 percent and volume up 44 percent to 57.9 billion dollars.

Founder, chairman, and chief executive Glenn Sanford said the model continued to take share in all market conditions. The company repurchased about 50 million dollars of stock in the quarter, ended June 30 with 134.9 million dollars in cash, and declared a third-quarter cash dividend of 4.5 cents per share. Leadership additions included a chief information officer, a president of affiliated services, and a new eXp Realty chief operating officer.

eXp Completes Acquisition of Canadian Real Estate Platform Zoocasa

Press Release | 7/14/2022

eXp World Holdings said it completed the acquisition of Zoocasa Realty Inc., a Canadian digital real estate platform, with the transaction effective July 1, 2022. The company said Zoocasa would strengthen lead generation and affiliated services for eXp Realty agents in Canada, with plans to expand capabilities more broadly over time.

Founder, chairman, and chief executive Glenn Sanford said the deal supports agent value and market-share gains as housing conditions tighten. Zoocasa provides property search, buyer-matching, and related technology services that eXp said would complement its cloud brokerage model.

eXp Realty remained the core operating subsidiary of the parent, which also owns Virbela and SUCCESS Enterprises. The company said integration would focus on Canadian agents first while evaluating rollouts in additional markets.

eXp Realty Opens Brokerage Operations in New Zealand

Press Release | 5/9/2022

eXp Realty said it opened brokerage operations in New Zealand, bringing its footprint to 21 markets with more than 80,000 agents worldwide. Maria Stephens was named to lead the New Zealand business. Michael Valdes, president of eXp Global, said the launch strengthened the company's Asia-Pacific position alongside Australia, India, and Hong Kong.

New Zealand was the third market opened in 2022 after the Dominican Republic and Greece. Stephens has more than a dozen years of New Zealand real estate experience as an agent and in senior branch management. The company said its cloud-based model and agent equity opportunity would support competition in the market.

eXp Realty Parent Posts Record First Quarter Revenue of 1.0 Billion

Press Release | 5/4/2022

eXp World Holdings, parent of eXp Realty, said first-quarter 2022 revenue rose 73 percent to a record 1.0 billion dollars. Net income was 8.9 million dollars, or 6 cents per diluted share. Adjusted EBITDA was 17.7 million dollars. Agents and brokers rose 55 percent to 78,196, closed transactions rose 55 percent to 114,305, and transaction volume rose 69 percent to 41.4 billion dollars.

Founder, chairman, and chief executive Glenn Sanford said agent growth continued despite housing-market headwinds. The board raised the stock-repurchase authorization to 500 million dollars and monthly buybacks to as much as 20 million dollars, and declared a 4-cent second-quarter dividend. Cash and cash equivalents were 130.1 million dollars at March 31.

eXp Realty Plans Brokerage Expansion into Chile and Dubai

Press Release | 5/3/2022

eXp Realty, the core subsidiary of eXp World Holdings, said it plans to expand real estate brokerage operations into Chile and Dubai in the United Arab Emirates. The company said the announcement followed 2022 openings in the Dominican Republic and Greece, with New Zealand expected to open later in May.

Upon launch of the new markets, eXp Realty said it expected a presence in 23 territories including the United States. Michael Valdes, president of eXp Global, called Chile and Dubai strategic expansions in the CALA and EMEA regions. The company said it would hire experienced country leaders to head local agent operations and services.

eXp Realty Opens Brokerage Operations in Greece as 20th Market

Press Release | 3/15/2022

eXp Realty said it opened brokerage operations in Greece, bringing it to 20 markets and more than 77,000 agents worldwide. Nikos Manomenidis will lead the Greece business. Michael Valdes, president of eXp Global, pointed to tourism and foreign-investment demand in the Greek market.

Manomenidis has more than 20 years in residential and commercial real estate and has served as president of the Central European Real Estate Associations Network and on the National Association of Realtors board in Greece. Greece was the second of three first-quarter 2022 expansion markets after the Dominican Republic, with New Zealand still planned.

eXp Realty Parent Posts Record Full Year Revenue of 3.8 Billion

Press Release | 2/24/2022

eXp World Holdings, parent of eXp Realty, said full-year 2021 revenue rose 110 percent to a record 3.8 billion dollars and fourth-quarter revenue rose 77 percent to 1.1 billion dollars. Full-year net income rose 162 percent to 81.2 million dollars, or 51 cents per diluted share. Adjusted EBITDA was 78.0 million dollars, or 88.0 million dollars excluding a 10 million dollar one-time legal settlement. Agents and brokers on the platform rose 72 percent to 71,137 at year-end.

Founder and chief executive Glenn Sanford said nearly 30,000 new agents joined across six continents. The company expanded into nine international markets in 2021 and said it had launched in the Dominican Republic in February 2022 with Greece and New Zealand planned. The board declared a 4-cent first-quarter 2022 dividend payable March 31, 2022. Cash and cash equivalents were 108.2 million dollars at December 31, 2021.

eXp Realty Opens Brokerage Operations in the Dominican Republic

Press Release | 2/8/2022

eXp Realty, the core subsidiary of eXp World Holdings, said it opened brokerage operations in the Dominican Republic. The company said it then operated in 19 countries with more than 73,000 agents worldwide. Marbel Lugo was named to lead the Dominican Republic business.

Michael Valdes, president of eXp Global, said the opening followed interest from agents in the country and fit the Caribbean and Latin America expansion path. Lugo has more than 20 years in real estate investment, consulting, and development and has served on the Association of Real Estate Agents board in the Dominican Republic.

The Dominican Republic was the first of three markets eXp had identified for first-quarter 2022 expansion, with Greece and New Zealand planned later in the quarter.

eXp Realty Agent Count Passes 70000 Worldwide

Press Release | 12/13/2021

eXp Realty said it had passed 70,000 agents worldwide, up 69 percent from 41,313 agents at the start of 2021. The company linked the milestone to a third quarter in which revenue rose 97 percent to 1.1 billion dollars and gross profit rose 70 percent to 79.5 million dollars.

Founder, chairman, and chief executive Glenn Sanford said an agent-focused model and ongoing product work were still drawing agents onto the platform. The release listed 2021 international openings that included Puerto Rico, Brazil, Italy, Hong Kong, Colombia, Spain, Israel, Panama, and Germany, and noted the SUCCESS Lending joint venture with Kind Lending.

It also named several teams that joined during the year, including a 472-person Houston brokerage, Abby Realty, that joined in November after 399 million dollars of 2020 sales volume. The company said it had agents in the United States, Canada, the United Kingdom, Australia, South Africa, India, Mexico, Portugal, France, and the newer markets.

eXp Realty Parent Third Quarter Revenue Rises 97 Percent to 1.1 Billion

Press Release | 11/3/2021

eXp World Holdings, the parent of eXp Realty, reported third quarter revenue of 1.110 billion dollars, up 97 percent and a record. Gross profit rose 70 percent to 79.5 million dollars. Net income rose 60 percent to 23.8 million dollars, including a 12.9 million dollar income-tax benefit. Diluted earnings per share rose 50 percent to 0.15 dollars. Adjusted EBITDA rose 6 percent to 23.1 million dollars.

Agents and brokers on the eXp Realty platform increased 82 percent to 65,269. Closed residential transaction sides rose 72 percent to 130,029, and residential transaction volume rose 97 percent to 46.6 billion dollars. The company repurchased about 53.2 million dollars of stock in the quarter and declared another cash dividend of 0.04 dollars a share, to be paid November 29.

Founder, chairman, and chief executive Glenn Sanford said the company was preparing to launch SUCCESS Lending, a residential mortgage joint venture with Kind Lending, with approval to start in Colorado, Illinois, and Tennessee. The release also noted international openings in Panama and Germany during the quarter. Cash was 98.1 million dollars at September 30.

eXp Realty Opens Operations in Germany

Press Release | 8/31/2021

eXp World Holdings said eXp Realty expanded into Germany under the eXp Germany banner. The company said it then operated in 18 countries and territories with more than 62,000 agents. Michael Valdes, president of eXp Global, said Germany is a large European real estate market and a next step after the company already had a presence in six European markets.

Ilka Vietz was named managing director for eXp Germany. She has nearly 20 years in the German market, has led regional real estate departments for banks, and has worked as an agent. She said brokers would be able to build businesses on the company technology platform.

Germany was the second of three markets planned for the third quarter of 2021. Panama opened in July, and Japan was still slated for later in the year. The company said nine new markets had opened in 2021 so far, after five in 2020. Agents can earn stock for listing and selling activity and work through the virtual campus rather than a physical brokerage office.

eXp Realty Parent Second Quarter Revenue Reaches 1 Billion

SEC filing | 8/4/2021

eXp World Holdings reported second-quarter revenue of about 1.0 billion dollars, up 183 percent from a year earlier. Gross profit rose 133 percent to 79.9 million dollars. Net income rose 350 percent to 37.0 million dollars, including a 20.6 million dollar income-tax benefit. Diluted earnings were 0.24 dollars a share. Adjusted EBITDA rose 98 percent to 27.0 million dollars. Operating cash flow rose 210 percent to 88.5 million dollars.

Founder, chairman, and chief executive Glenn Sanford said agent growth translated into more closed sides and volume. Agents and brokers rose 87 percent to 58,263. Transaction sides rose 164 percent to 115,431, and volume rose 210 percent to 40.1 billion dollars. During the quarter the realty business expanded into Colombia, Spain, and Israel, and it launched in Panama after the quarter ended. Cash was 107.4 million dollars after about 54.9 million dollars of stock repurchases.

The board declared its first cash dividend, 0.04 dollars a share for the third quarter, payable August 30, 2021 to holders of record on August 16. Chief financial officer Jeff Whiteside said the 1 billion dollar revenue quarter showed the brokerage model could fund buybacks and a dividend while the company kept investing.

eXp Realty Agent Count Passes 60000 Worldwide

Press Release | 7/26/2021

eXp World Holdings said eXp Realty had passed 60,000 agents worldwide. That was an 85 percent increase from 32,403 agents in July 2020. Jason Gesing, chief executive of eXp Realty, said the gain came from the agent-centered model, financial incentives, and cloud-based technology and training.

The company said 2021 expansion so far included Puerto Rico, Brazil, Italy, Hong Kong, Colombia, Spain, Israel, and Panama. It also listed large teams that joined in the first half, including groups in Mexico, Texas, Utah, Washington D.C., Ontario, Missouri, India, California, and Pennsylvania.

The parent said the brokerage gives productive agents a path to publicly traded equity and a revenue-share model. The 60,000-agent mark was presented as the base for the second half of 2021.

eXp Realty Opens Operations in Panama

Press Release | 7/13/2021

eXp World Holdings said eXp Realty expanded into Panama under the eXp Panama banner. The company said it then operated in 17 countries and territories with more than 59,000 agents. Michael Valdes, president of eXp Global, called the opening a step in the Caribbean and Latin America region and pointed to foreign investment, housing demand, and a resilient property market.

Luis Pimentel was named director of eXp Panama. He has more than 20 years in real estate, is a past president of the Panamanian Association of Real Estate Brokers and Developers, and has served on the board of the National Association of Realtors as an international member. Pimentel said the model would change how agents work with buyers and sellers in the country.

Panama was described as the first of three markets targeted for the third quarter of 2021, with Germany and Japan planned later in the year. Puerto Rico, Brazil, Italy, Colombia, Spain, Israel, and Hong Kong were already operating. Agents can earn equity in the parent for production and can work on the cloud platform rather than a traditional office.

eXp Realty Opens Spain and Plans Germany Panama and Japan Next

Press Release | 5/17/2021

eXp Realty said it opened eXp Spain and planned to expand into Germany, Panama, and Japan in the third quarter of 2021. After earlier 2021 launches in Puerto Rico, Brazil, Italy, Hong Kong, and Colombia, the company said it would be in 19 countries by the end of the third quarter. The platform then had more than 54,000 agents.

Michael Valdes, president of eXp Global, said Spain joins the United Kingdom, France, Portugal, and Italy in Europe and that Germany, Panama, and Japan would deepen regional footholds. Renata Sujto was named to lead eXp Spain.

Sujto said Spanish agents showed strong interest after the pandemic. The company said it would hire local leaders in each new market to run agent operations and services.

eXp Realty Parent First Quarter Revenue More Than Doubles to 584 Million

SEC filing | 5/6/2021

eXp World Holdings reported first-quarter revenue of 583.8 million dollars, up 115 percent from a year earlier. Gross profit rose 91 percent to 53.5 million dollars. Net income rose to 4.8 million dollars from 0.1 million dollars. Adjusted EBITDA rose 159 percent to 14.8 million dollars. Operating cash flow rose 184 percent to 40.6 million dollars.

Founder, chairman, and chief executive Glenn Sanford said the agent base grew 77 percent to 50,333. Closed transaction sides rose 95 percent to 73,878, and closed volume rose 123 percent to 24.5 billion dollars. Cash and cash equivalents were 104.4 million dollars at quarter end, and the company bought back about 34.0 million dollars of stock.

The company said it expanded into Puerto Rico, Brazil, Italy, and Hong Kong during the first quarter, launched in Colombia after quarter end, and planned Spain and Israel by the end of the second quarter. Global Net Promoter Score rose to 73 from 70 a year earlier.

eXp Realty Opens Operations in Colombia Under eXp Colombia Banner

Press Release | 4/27/2021

eXp World Holdings said eXp Realty expanded into Colombia under the eXp Colombia banner. The company said it then operated in 14 countries and territories with more than 50,000 agents worldwide. Michael Valdes, president of eXp Global, said interest in the Colombia launch was strong and pointed to housing price growth, digital infrastructure, and an entrepreneurial culture.

Santiago Carrizosa was named managing broker for eXp Colombia. He brings more than 24 years of Colombian and international real estate experience. Carrizosa said the market needs more efficient tools and models and that eXp Colombia aims to change how property is bought and sold.

The company said Colombia was the first of three markets planned for the second quarter of 2021, with Spain and Israel scheduled later in the quarter. Puerto Rico, Brazil, Italy, and Hong Kong had opened earlier in 2021.

eXp Realty Parent Full Year Revenue Rises 84 Percent to 1.8 Billion

SEC filing | 3/11/2021

eXp World Holdings, parent of eXp Realty, reported 2020 revenue of 1.80 billion dollars, up 84 percent from 979.9 million dollars. Net income was 31.0 million dollars, compared with a loss of 9.6 million dollars in 2019, which the company called its most profitable year. Fourth-quarter revenue was 609.3 million dollars, up 122 percent, and quarterly net income was 7.7 million dollars.

Agents and brokers on the eXp Realty platform rose 63 percent to 41,313 at year end, from 25,423, and stood above 48,000 at the time of the release. Residential transaction volume for the year rose 89 percent to 72.2 billion dollars. Fourth-quarter volume was 24.6 billion dollars, up 123 percent. Cash rose to 100.1 million dollars from 40.1 million dollars.

Founder and chief executive Glenn Sanford said the cloud brokerage kept operating while the company added more than 15,000 agents and opened in five countries during 2020: France, Portugal, Mexico, India, and South Africa. After year end it launched in Puerto Rico and Brazil and said Italy and Hong Kong were planned before the end of the first quarter. It also started eXp Commercial in 29 states and bought Showcase IDX and SUCCESS Enterprises.

Chief financial officer Jeff Whiteside said agent growth and transaction volume produced the profit record and that U.S. brokerage expansion and new international markets should continue in 2021.

eXp Realty Expands Into Brazil and Names Ernani Assis to Lead It

Npros.com | 2/24/2021

eXp World Holdings, the parent of eXp Realty, opened in Brazil under the name eXp Brazil. Ernani Assis will be managing director and broker. Global president Michael Valdes is leading the international push.

Valdes said the Brazil opening puts the company on six continents. The business was already in Australia, Canada, France, India, Mexico, Portugal, Puerto Rico, South Africa, and the United Kingdom. He pointed to a large economy, a population of 213 million, and a real estate market he said fits the company model. The first focus will be Sao Paulo, Rio de Janeiro, and Minas Gerais, with coverage planned for major cities and regions after that.

Assis said the launch comes as the Brazilian property market recovers and that agents will get training, remote flexibility, and back-office support, plus a pay structure that is new to that market. The company had opened in Puerto Rico in January and said it planned launches in Italy and Hong Kong in the first quarter of 2021.