eXp Realty News

eXp Founder Glenn Sanford Keeps Top-Tier Revenue Share Under Separation Deal; Planned Consulting Pact Dropped

Press Release | 11/9/2026

BELLINGHAM, Wash. - November 9, 2026

eXp Realty founder Glenn Sanford will keep collecting revenue share from the brokerage at its highest front-line tier for as long as he holds vested status, under a separation agreement that AGNT, Inc., the Nasdaq-listed parent of eXp Realty, disclosed in a Form 8-K filed November 9. The filing also shows that a consulting arrangement the company said in October it expected to sign with Sanford never happened.

AGNT and Sanford, its founder, former chief executive officer and current board chairman, signed a Termination and Release Agreement on November 9. The agreement is effective retroactively to October 8, 2026, the day his employment with the company and its subsidiaries ended as part of the previously announced handoff of the CEO role to Leo Pareja. It covers only Sanford's separation from employment. He remains chairman of the board, and his director service and non-employee director compensation are unchanged.

The central provision concerns eXp Realty's revenue share program, the agent-attraction payments that have long been the company's signature feature. Sanford stays eligible for revenue share, consistent with the company's earlier disclosures. His share will also be calculated at the highest front line qualifying agent, or FLQA, tier the program offers, without regard to any FLQA qualification requirement. That treatment survives any termination or expiration of the agreement for as long as he keeps "Vested Status" under eXp Realty's revenue share plan and generally follows the brokerage's policies on eligibility, continuation and forfeiture of revenue share payments. Those policies apply as they stood on the separation date and as later amended in ways that apply uniformly to all vested participants. The entitlement does not depend on Sanford's release of claims. When he dies, his or his designated successor's entitlement will continue under the revenue share plan and eXp Realty's agent succession policy.

AGNT's October 8 filing announcing the CEO transition said the company anticipated entering into a consulting services agreement with Sanford. The new agreement states that he is not engaged to provide, and has no obligation to provide, consulting, advisory or other services to the company or its subsidiaries, and that no consulting agreement has been entered into.

If Sanford elects COBRA continuation coverage, AGNT will pay or reimburse the cost for him and his covered dependents until the first anniversary of the separation date, or earlier if he becomes eligible for another group health plan or stops being eligible for COBRA. That benefit depends on his general release of claims becoming effective and irrevocable. The release includes the review and revocation periods required under the Older Workers Benefit Protection Act and, as of the filing date, had not yet taken effect.

Once Sanford's release takes effect, the company will in turn release him from claims arising on or before November 9, 2026, with significant carve-outs. AGNT's release does not cover claims arising from fraud, willful misconduct, knowing violations of law, breach of the duty of loyalty, or federal or state securities laws. It also excludes claims tied to dealings between the company and Sanford, his family members or entities he controls unless they have been resolved in a written agreement approved by the board's audit committee, claims based on facts he was required to disclose to the board or audit committee but did not, and recovery rights under the company's compensation clawback policy. The agreement does not waive or release any claim asserted in any current or other derivative lawsuit brought on behalf of the company in which Sanford is a defendant, or any claim arising from the facts alleged in those suits.

AGNT will continue to honor Sanford's rights to indemnification and advancement of expenses under its certificate of formation, bylaws and any indemnification agreement. It will also keep him insured under its directors' and officers' liability policies, on terms no less favorable than those given to other current or former directors and officers, for as long as he may face claims arising from his service and for at least six years after the later of his separation date and the end of his board service.

Other terms assign to the company the intellectual property in work Sanford created during his employment, without conditioning that on the release, and give AGNT a perpetual, royalty-free license to certain related materials he owns. Sanford keeps ownership of his name, image, likeness, voice, signature and biographical information, though the company may use his name and approved likeness factually to identify him as the founder of AGNT and eXp Realty. The agreement also includes mutual confidentiality obligations lasting four years after the later of his separation and the end of his board service, mutual indemnification for certain third-party claims, and mutual non-disparagement provisions under which the company will instruct its directors and executive officers not to disparage Sanford publicly. Texas law governs the agreement, and most disputes go to binding confidential arbitration in King County, Washington.

AGNT said the full agreement will be filed as an exhibit to its annual report on Form 10-K for 2026. The 8-K was signed by Chief Legal Counsel James Bramble.

Sanford started eXp Realty in 2009 and led the company until Pareja, who had been CEO of the eXp Realty brokerage since April 2024, took over as CEO of the parent company on October 8. AGNT, formerly eXp World Holdings, is based in Bellingham, Washington.

eXp Parent AGNT Q3 Revenue Rises 6% to $1.4 Billion as Agent Count Grows; Company Posts Net Loss

Press Release | 11/5/2026

BELLINGHAM, Wash. - November 5, 2026

AGNT, Inc., the publicly traded parent of eXp Realty and formerly known as eXp World Holdings, reported third-quarter 2026 revenue of $1.4 billion on November 5, up 6 percent from $1.3 billion a year earlier, as agent count, transactions, and sales volume all rose in a still-difficult housing market. The company swung to a net loss as costs and investment outpaced the top-line gain.

Net loss was $4.3 million, or $0.03 per diluted share, compared with net income of $3.5 million, or $0.02 per share, in the third quarter of 2025. Adjusted EBITDA fell 3 percent to $17.1 million from $17.7 million. Operating expenses rose 7 percent to $87.9 million. Cash and cash equivalents ended the quarter at $111.4 million, nearly flat with $112.8 million a year earlier, and the company said it carried no debt.

"It is a privilege to lead AGNT into its next chapter as Chief Executive Officer. AGNT's third-quarter results reflect a business with more agents, and more productive agents, than a year ago, and a financial position that we believe leaves us well-positioned to lead the industry through challenging times," said Leo Pareja, chief executive officer. "Our results are driven by the simple belief that when we put agents first, the business gets stronger."

Jesse Hill, chief financial officer, said the company "grew the top line in a housing market that remains challenging" while managing the business with discipline and continuing to invest in agent tools. He pointed to international as the fastest-growing segment, with revenue up 27 percent and continued progress toward profitability, and said the balance sheet gives flexibility to invest where opportunity is greatest for agents and shareholders.

On the operating side, AGNT said agents and brokers on its platform rose 5 percent to 87,457 as of September 30. Third-quarter real estate sales transactions increased 8 percent to 131,546, and sales volume rose 10 percent to $59.3 billion. Global agent Net Promoter Score was 67, down from 75 a year earlier. Net cash provided by operating activities was $18.2 million, compared with $28.9 million a year ago, while adjusted operating cash flow was $41.5 million, down from $45.4 million.

The company distributed $8.4 million in cash dividends to shareholders in the period. It paid a third-quarter dividend of $0.05 per share on August 28, and on October 23 the board declared a fourth-quarter dividend of $0.05 per share, expected to be paid December 4 to stockholders of record on November 20.

For the fourth quarter of 2026, AGNT guided revenue of $1.0 billion to $1.2 billion, operating expenses of $93 million to $97 million, and adjusted EBITDA between a $7 million loss and break-even. For the full year, it guided revenue of $4.85 billion to $5.05 billion, operating expenses of $362 million to $367 million, and adjusted EBITDA of $40 million to $47 million.

AGNT is the parent of eXp Realty, the cloud-based real estate brokerage, along with NextHome, FrameVR.io, and SUCCESS Enterprises. eXp Realty remains the company's primary agent-facing brand in the Npros directory.

Former eXp Agents Golden and Bjorkman Settle Sexual Assault Suit Two Days Into Trial, Ending Roberts Case

Npros.com | 10/21/2026

LOS ANGELES, California - October 21, 2026

Two former eXp Realty agents accused of drugging and sexually assaulting a fellow agent at company recruiting events have reached a confidential settlement with their accuser, ending a federal civil trial in Los Angeles just two days after it began and effectively closing out the lawsuit that put a spotlight on eXp's recruiting culture.

Attorneys for Anya Roberts filed a notice on Wednesday, October 21, in the U.S. District Court for the Central District of California stating that she had reached a settlement with David S. Golden and Michael L. Bjorkman that "fully and finally" resolves all of her claims against the two men. The parties said they expect to file dismissal paperwork within 15 days after the settlement agreement is finalized. Financial terms were not disclosed. Golden and Bjorkman have denied the allegations, and their attorneys did not comment publicly on the deal.

The agreement came three days after Roberts settled with the case's corporate defendants. On Sunday, October 18, one day before trial, she disclosed a confidential settlement in principle with eXp Realty LLC, its parent company AGNT, Inc., formerly known as eXp World Holdings, and founder Glenn Sanford. eXp has said that settlement is not an admission of wrongdoing and that it has consistently denied the claims. With both settlements in place, no defendants remain to be tried in Roberts' case.

Roberts, an eXp agent, filed suit in December 2023. She alleged that Golden and Bjorkman, who were prominent recruiters inside eXp's revenue share system, drugged and sexually assaulted her during company recruiting events in 2020, and that once she would not do everything Golden wanted, including choosing him as her sponsor, he stalled her career. Her complaint also accused eXp and its leadership of knowingly benefiting from the two men's recruiting production while ignoring complaints about their conduct.

In August, U.S. District Judge André Birotte Jr. split the case into two trials. The first, against Golden and Bjorkman alone, opened Monday, October 19. The second, against eXp Realty, AGNT and Sanford, had been set for November 16 before the company settled. Some claims against AGNT and Sanford, including sex trafficking, vicarious liability and negligent hiring theories, had already been dropped in August, though eXp Realty itself still faced them until the October 18 agreement.

The brief trial was contentious. Hundreds of pages of explicit text messages were put before the court, and the judge ordered the defense to pare down more than 230 pages of intimate messages it wanted to use and voiced frustration over the volume of last-minute filings. By the second day the courtroom had been temporarily closed to the public. The settlement was announced the following day.

"We are very pleased to have reached a resolution that allows our client to put this litigation behind her and move forward with the next chapter of her life," attorneys for Roberts said in a statement.

The settlements do not end the legal fallout. A related federal case known as Acevedo, filed in February 2023 by four women who accuse Golden and Bjorkman of using eXp recruiting events and promises of career help to lure and drug them, remains pending before the same judge, with eXp Realty, AGNT and Sanford among the defendants. That case is scheduled for trial in March 2028. Andrea Hirsch, an attorney for the plaintiffs in both cases, said that while Roberts has resolved her claims, four other women are still waiting for their day in court and the legal team's focus now turns to that case.

eXp also faces separate retaliation suits. Top agent Noelle Nielsen, who gave a detailed account of the two men's alleged misconduct at company events, has an ongoing case against eXp and Sanford in Minnesota state court, and former employee Ashley Golladay sued eXp in Washington state court after reporting harassment by another executive. A shareholder derivative suit in Delaware accusing Sanford and other directors of ignoring sexual misconduct has also been allowed to proceed.

Bjorkman was arrested in Las Vegas in 2021 and charged with two counts of sexual assault, but prosecutors later dropped the criminal case, saying they could not prove the allegations beyond a reasonable doubt.

The court activity comes during a period of transition at the top of the company. Sanford stepped down as chief executive of AGNT in early October and was succeeded by Leo Pareja, who had led eXp Realty since 2024. 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.

Npros will continue to follow the Acevedo case and eXp's other pending litigation.

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 World Holdings Proposes Moving Incorporation From Delaware to Texas

SEC Filing | 2/25/2026

eXp World Holdings, the parent of eXp Realty, is asking shareholders to approve moving its state of incorporation from Delaware to Texas, according to a preliminary proxy statement filed with the Securities and Exchange Commission for its April 24, 2026, annual meeting.

The redomestication, to be carried out by conversion, was recommended by a special independent committee of the board made up of directors Peggie Pelosi and Fred Reichheld. Approval requires the votes of a majority of outstanding shares and, separately, a majority of the votes cast by disinterested stockholders, excluding shares held by stockholders the company considers affiliated, including founder, chairman and Chief Executive Glenn Sanford.

The proposal comes weeks after the Delaware Court of Chancery refused to dismiss a shareholder derivative suit accusing Sanford and other current and former directors of failing to respond to reports of sexual assaults by top eXp agents. Every current board member other than Pelosi and Reichheld is a defendant in that case. Shareholders will also vote on the election of six directors, ratification of the auditor and an advisory vote on executive pay.

eXp World Holdings Posts 22.7 Million Dollar 2025 Loss on 4.8 Billion Dollars in Revenue

Press Release | 2/24/2026

BELLINGHAM, Wash. -- February 24, 2026

eXp World Holdings, the parent of eXp Realty, reported 2025 revenue of 4.8 billion dollars, up 4 percent from the prior year, and a net loss of 22.7 million dollars, or 0.14 dollars per share. Fourth-quarter revenue was 1.2 billion dollars and the quarterly net loss was 12.9 million dollars, or 0.08 dollars per share. Adjusted EBITDA was 33.2 million dollars for the year and 2.1 million dollars for the quarter.

The company had 83,060 agents and brokers on its platform at year end. Real estate transactions rose 1 percent to 440,163 for the year and 6 percent to 110,392 in the fourth quarter, while sales volume rose 5 percent to 194.0 billion dollars for the year. eXp ended 2025 with 124.2 million dollars in cash and returned 87.0 million dollars to shareholders through 56.2 million dollars of share repurchases and 30.8 million dollars of dividends. It expanded into seven new countries during the year.

For 2026, eXp forecast revenue of 4.85 billion to 5.15 billion dollars and adjusted EBITDA of 50 million to 75 million dollars, with first-quarter revenue of 960 million to 980 million dollars. "We expect 2026 to be a pivotal year as our prior investments begin to yield margin improvements, driven by focused execution," said eXp Realty Chief Executive Leo Pareja.

Delaware Court Lets Shareholder Suit Accusing eXp Founder Glenn Sanford and Directors of Ignoring Sexual Misconduct Proceed

Court Filing | 1/16/2026

The Delaware Court of Chancery has refused to dismiss a shareholder derivative lawsuit accusing eXp World Holdings founder, chairman and Chief Executive Glenn Sanford and several current and former directors of failing to act on reports that top eXp agents drugged and sexually assaulted other agents at company-sponsored events.

In an opinion dated January 16, 2026, Chancellor Kathaleen McCormick denied the defendants' motion to dismiss as to Sanford and the director defendants in Los Angeles City Employees' Retirement System v. Glenn Sanford, et al. The court granted the motion on one claim, rejecting what it called a novel theory that a control group including Sanford breached oversight duties, saying extending such duties would require making new law. The defendants named in the suit include Sanford, Randall Miles, Dan Cahir, Jason Gesing, Eugene Frederick and James Bramble.

The complaint alleges that eXp terminated former agent Michael Bjorkman in 2020 but continued paying him downline revenue, that executives received an October 2020 memorandum detailing assaults by Bjorkman and David Golden, and that an eXp director who turned whistleblower raised the issue at two board meetings. It also alleges that Sanford had a financial incentive to retain both agents because they were in his downline. The defendants are not accused of committing the assaults. The court found that the complaint adequately alleged that Sanford breached his duty of loyalty and that the directors failed to respond in good faith to red flags.

eXp Realty Launches in Romania and the Netherlands, Plans Luxembourg After Seven Country Entries in 2025

Press Release | 12/2/2025

BELLINGHAM, Wash. -- December 2, 2025

eXp Realty said it has expanded into Romania and the Netherlands and plans to enter Luxembourg, bringing its international expansion in 2025 to seven countries, following earlier entries into Peru, Ecuador, Turkiye, South Korea and Japan. The brokerage, the core subsidiary of eXp World Holdings, said it has more than 83,000 agents across 29 countries.

"eXp International brought in 104.6 million dollars in revenue through Q3, up 74 percent compared to the same period last year," said Felix Bravo, managing director of eXp Realty International. The company said some of this year's launches onboarded more than 100 agents in their first 30 days, with some welcome events drawing 400 to 500 attendees.

Adam Day, international expansion leader for Europe, said eXp is launching in markets where there is already demand, leadership and alignment with its model. The company said its expansion is supported by LYVVE, its AI-native international property search platform connecting agents and consumers across nearly 30 countries, and an in-house global referral network, as it builds toward its 2030 global vision.

eXp World Holdings Swings to Third Quarter Profit as Revenue Rises 7 Percent; Agent Count Dips 2 Percent

Press Release | 11/6/2025

BELLINGHAM, Wash. -- November 6, 2025

eXp World Holdings, parent of eXp Realty, reported third-quarter revenue of 1.3 billion dollars, up 7 percent from a year earlier, and net income of 3.5 million dollars, or 0.02 dollars per diluted share, compared with a net loss of 8.5 million dollars in the third quarter of 2024. Adjusted EBITDA was 17.7 million dollars.

Real estate transactions rose 3 percent to 121,516 and transaction volume increased 7 percent to 54.1 billion dollars, while the agent count declined 2 percent to 83,446. The company ended the quarter with 112.8 million dollars in cash and cash equivalents, and returned 24.1 million dollars to shareholders through 16.4 million dollars of share repurchases and 7.7 million dollars in dividends. The board declared a fourth-quarter dividend of 0.05 dollars per share.

"Our third quarter results underscore the strength of eXp's model and the power of our agents," said eXp Realty Chief Executive Leo Pareja. Founder, Chairman and Chief Executive Glenn Sanford said eXp continues to solidify its position as the platform for the future of real estate. The company's global agent net promoter score was 75, down from 76 a year earlier.

eXp Realty Sex Trafficking Suit Amended to Name Third Plaintiff and Add Fraud Claim

Npros.com | 10/28/2025

Plaintiffs in a federal lawsuit accusing eXp Realty, its parent eXp World Holdings and several executives of enabling sexual abuse by former agents filed a third amended complaint in the U.S. District Court for the Central District of California, identifying a previously anonymous plaintiff and adding a new cause of action for fraudulent misrepresentation.

The amended complaint identifies the plaintiff previously listed as Jane Doe 3 as Megan Farrell-Nelson. Two other plaintiffs previously identified as Jane Does were named earlier as Tami Sims and Christiana Lundy. The case, originally filed in February 2023 and assigned to Judge Andre Birotte Jr., names eXp founder and CEO Glenn Sanford, suspended eXp agent David Golden, former eXp agent Michael Bjorkman and eXp agent Brent Gove as defendants, accusing them of violating federal sex trafficking laws by ignoring or participating in alleged sexual assaults.

The new fraud claim, lodged against eXp Realty and eXp World Holdings, alleges that eXp contractually promised in its agent agreement to promptly investigate reports of harassment or assault and repeatedly said it was investigating the plaintiffs' complaints, but that no investigation occurred and the company declined to interview witnesses they identified. The complaint also alleges that Sanford directed Chief Legal Officer Jim Bramble to accelerate Bjorkman's vesting so he could keep receiving revenue share, and that Sanford inserted himself into the agent compliance committee and advocated for Bjorkman's return to active status. eXp said the claims are entirely without merit and that it will defend itself vigorously.

eXp Realty Launches in South Korea, Its Fifth New Country of 2025

Press Release | 9/25/2025

BELLINGHAM, Wash. -- September 25, 2025

eXp Realty announced its entry into South Korea, its fifth international launch of 2025 and its second in Asia this year after Japan. The brokerage has also expanded into Peru, Turkiye and Ecuador this year and said it now has more than 82,000 agents across 29 countries.

Thomas Kim, a top-producing agent from Korea's traditional brokerage system, will lead eXp Korea. Agents will work without office requirements and will have access to revenue sharing, equity opportunities and eXp's global referral network. Felix Bravo, managing director of international at eXp Realty, said most Korean brokerages run on an old model built for the boss rather than the agent, and that eXp intends to replace it.

The launch supports eXp's 2030 goal of reaching 50,000 productive agents outside the United States. The company held a welcome event for agents in Seoul on the day of the announcement.

eXp Realty Faces Two New Lawsuits Alleging Retaliation Against Women Who Reported Sexual Misconduct

Npros.com | 8/13/2025

eXp Realty is facing two more lawsuits from women who claim the company retaliated against them for reporting drug use, sexual assault and other misconduct connected to company events. The suits add to litigation that began in 2023 when a group of women sued in California over alleged abuse by top recruiting agents, a case that is scheduled for trial next year.

Noelle Nielsen, a former top eXp influencer now with a rival brokerage, sued in Minnesota state court in June for breach of contract, harassment and retaliation, claiming eXp executives threatened to fire her if she cooperated in other lawsuits against the company. Ashley Golladay, a former corporate employee, sued in Washington state court in June, claiming she was fired after reporting her direct supervisor, Dave Conord. In an October 6, 2020, memo to then-Chief Executive Jason Gesing, Nielsen described drug use and sexual harassment by agents Michael Bjorkman and David Golden, who are at the center of the earlier lawsuits.

On August 12, eXp responded in court to Nielsen's suit, arguing that her claims are barred by the statute of limitations, that as an independent contractor she is not covered by whistleblower or wage-theft protections, and that her reports of misconduct were "barely-veiled threat(s)" made as she sought a sponsorship change. In a statement, eXp said it takes the allegations seriously and has robust policies to address misconduct and retaliation, but that the claims are entirely without merit and it intends to defend the case vigorously.

eXp Second Quarter Revenue Rises 1 Percent to 1.3 Billion as Agent Count Falls 5 Percent; Sanford Shifts Focus to SUCCESS

Press Release | 7/31/2025

BELLINGHAM, Wash. -- July 31, 2025

eXp World Holdings reported second-quarter 2025 revenue of 1.3 billion dollars, up 1 percent from a year earlier, and a net loss of 2.3 million dollars, or 0.01 dollars per share. Adjusted EBITDA was 11.2 million dollars. Adjusted operating costs, excluding agent commissions, rose 20 percent to 95.0 million dollars, which the company attributed to investments to streamline operations and severance.

Agents and brokers on the eXp Realty platform fell 5 percent to 82,704, and transactions fell 2 percent to 118,612, while sales volume rose 1 percent to 52.5 billion dollars. Cash fell to 94.6 million dollars after the company paid the first 17.0 million dollar installment of its 34.0 million dollar antitrust settlement over agent commissions. It returned 32.6 million dollars to shareholders through buybacks and dividends and declared a third-quarter dividend of 0.05 dollars per share.

Founder, Chairman and Chief Executive Glenn Sanford said that after guiding the company's international strategy he is turning his attention to SUCCESS Enterprises as publisher and managing director, with a goal of expanding the brand. eXp Realty Chief Executive Leo Pareja said programs such as its co-sponsor initiative are attracting productive agents and teams.

eXp Realty Launches in Japan, Its Fourth New Country of 2025

Press Release | 7/25/2025

BELLINGHAM, Wash. -- July 25, 2025

eXp Realty said it has launched operations in Japan, its fourth international market entry of 2025 after Peru, Turkiye and Ecuador. The brokerage said its network now includes nearly 81,000 agents across 28 countries.

Ken Tanaka, a veteran of Japan's real estate sector, will lead eXp Japan as country leader. Agents there will operate under eXp's cloud-based model with no office requirement, revenue sharing and, subject to local laws, equity opportunities, along with access to the company's global referral network and online training. Felix Bravo, managing director of international at eXp Realty, said most models in Japan take too much from agents and give too little in return.

The company said the expansion strengthens its presence in the Asia Pacific region and supports its goal of reaching 50,000 agents outside the United States by 2030. eXp planned a welcome event for agents in Tokyo on October 2, 2025.

eXp World Holdings Names Interim Finance Chief Jesse Hill Permanent CFO

Press Release | 7/2/2025

BELLINGHAM, WA â€" July 2, 2025

eXp World Holdings, the parent of eXp Realty, said it has appointed Jesse Hill as chief financial officer, effective immediately. Hill had served as interim chief financial officer and principal financial officer since April 2025 and will also serve as the company's principal accounting officer.

In a regulatory filing, the company said Hill will receive an annual base salary of 600,000 dollars, effective June 30, 2025. He will also receive an equity grant under the company's 2024 equity incentive plan consisting of restricted stock units valued at about 230,938 dollars and stock options valued at about 692,812 dollars, both vesting in equal quarterly installments over three years.

The company said Hill's permanent appointment follows a transitional period in which he demonstrated financial leadership and strategic vision, and that he will drive its long-term financial strategy. Hill has no family relationships with any executive officer or director, according to the filing.

Court Grants Preliminary Approval to eXp's Nationwide Commission Lawsuit Settlement

SEC Filing | 5/28/2025

eXp World Holdings, parent of eXp Realty, disclosed in a regulatory filing that the U.S. District Court for the Northern District of Georgia on May 23, 2025, granted preliminary approval of the nationwide class settlement the company reached on December 9, 2024, resolving antitrust claims over real estate agent commissions.

The class action was brought by 1925 Hooper LLC and other home sellers in the court's Atlanta Division, Case No. 1:23-cv-05392-SEG, and is one of a series of lawsuits alleging that industry rules inflated agent commissions. Under the settlement, eXp agreed to pay 34 million dollars into a qualified settlement fund and to change certain business practices, with half of the cash due within 30 business days of preliminary approval and the rest within a year of the first payment.

The settlement remains subject to final court approval and will become effective following any appeals process.

Former eXp Agent Sues Brokerage Over Alleged Assault After Shareholder Summit Party

Npros.com | 5/19/2025

North Carolina-based eXp agent Kristen Childress filed a lawsuit on May 19, 2025, in U.S. District Court in Orlando against eXp Realty and parent eXp World Holdings, alleging she was raped by a photographer after attending a vendor-hosted open bar networking party held in conjunction with the eXp Shareholder Summit in May 2023.

The complaint alleges the man, who was not a licensed agent, attended the summit as a guest of an eXp agent, and that eXp failed to provide the resources for victims of sexual assault it had promised. Childress is seeking a jury trial, compensatory and punitive damages, and injunctive relief requiring policy reform and reporting transparency at eXp.

eXp said it was deeply concerned by any report of harm and extended its support to Childress, but said the alleged incident occurred at a private, non-eXp-sponsored event and the accused individual is not affiliated with eXp Realty. The suit adds to sexual assault litigation the company has faced, including a shareholder derivative suit filed in October 2024 against founder Glenn Sanford and other directors over the handling of such allegations.

eXp Realty Launches in Ecuador With Former Top RE/MAX Team Leader Klever Guanoluisa Torres

Press Release | 5/16/2025

BELLINGHAM, Wash., May 16, 2025 --

eXp Realty said it has launched operations in Ecuador, bringing its global footprint to 27 countries and extending a run of Latin American expansion that included Peru earlier in the year.

The Ecuador business will be led by Klever Guanoluisa Torres, who previously headed the country's top-producing RE/MAX team and is joining eXp with that team. Guanoluisa Torres has nearly 30 years of real estate experience and has trained more than 2,000 agents.

Agents in Ecuador will join a network of more than 81,000 agents worldwide using eXp's cloud-based brokerage model. Felix Bravo, managing director of international for eXp Realty, announced the launch.

eXp First Quarter Revenue Rises 1 Percent to 954.9 Million; Agent Count Falls 5 Percent

Press Release | 5/6/2025

BELLINGHAM, Wash., May 6, 2025 --

eXp World Holdings, parent of eXp Realty, reported first-quarter 2025 revenue of 954.9 million dollars, up 1 percent from a year earlier. The company posted a net loss of 11.0 million dollars, or 0.07 dollars per share, and adjusted EBITDA of 2.2 million dollars.

The agent count fell 5 percent to 81,904, while real estate transactions declined 2 percent to 89,643 and transaction volume rose 4 percent to 38.6 billion dollars. The company reported an agent net promoter score of 78. International revenue more than doubled from a year earlier, and eXp entered Peru and Turkiye during the period.

eXp ended the quarter with 115.7 million dollars in cash, returned 12.6 million dollars to shareholders through dividends and buybacks, and declared a quarterly dividend of 0.05 dollars per share. Founder and Chief Executive Glenn Sanford and eXp Realty Chief Executive Leo Pareja commented on the results.

eXp Realty Launches in Turkiye, Its 26th International Market

Press Release | 4/17/2025

BELLINGHAM, Wash., April 17, 2025 --

eXp Realty said it has launched operations in Turkiye, its 26th international market and its second country launch in less than a month, following its entry into Peru in March.

The brokerage named Yigit Portakal as country leader for Turkiye. Agents there will operate under eXp's cloud-based model with no franchise fees, revenue sharing and, where locally available, the opportunity to earn equity in parent company eXp World Holdings. They also gain access to a global network of nearly 83,000 agents in 26 countries.

The launch is part of a push by parent company eXp World Holdings, led by founder and Chief Executive Glenn Sanford, to grow its international business.

eXp Realty Launches in Peru, Its 25th International Market

Press Release | 3/21/2025

BELLINGHAM, Wash., March 21, 2025 --

eXp Realty, a subsidiary of eXp World Holdings, said it launched operations in Peru, its 25th international market, giving Peruvian real estate agents access to its cloud-based brokerage model.

The company said agents in Peru will be offered its commission splits and caps, equity ownership opportunities in the Nasdaq-listed parent and access to a global referral network of nearly 83,000 agents. Ricardo Alfaro was named country leader for eXp Peru.

Founder, Chief Executive and Chairman Glenn Sanford called the expansion another step in building an agent-centric brokerage, saying Peruvian agents now have a way to scale their businesses.

eXp Names Jesse Hill Interim CFO After Chief Accounting Officer Kent Cheng Resigns

SEC Filing | 3/17/2025

eXp World Holdings, parent of eXp Realty, said on March 17, 2025, that it appointed Jesse Hill as interim chief financial officer and principal financial officer effective April 1, 2025. Hill, 37, has served as vice president of international finance and corporate financial planning and analysis at eXp Realty since November 2024 and has held finance roles at the company since 2019.

The appointment follows the resignation of Chief Accounting Officer and principal financial officer Kent Cheng, who notified the company on March 3 that he would step down effective March 31, 2025. Cheng agreed to remain as a strategic advisor through August 31, 2025. The company said its search for a permanent chief financial officer is ongoing.

Hill will receive an annual base salary of 450,000 dollars plus one-time option and restricted stock unit awards each valued at 150,000 dollars that vest over three years.

eXp Fourth Quarter Revenue Rises to 1.1 Billion; Agent Count Falls 5 Percent

Press Release | 2/20/2025

BELLINGHAM, Wash., February 20, 2025 --

eXp World Holdings, parent of eXp Realty, reported fourth-quarter 2024 revenue of 1.1 billion dollars and a net loss of 9.5 million dollars, or 0.06 dollars per diluted share, including a 4.9 million dollar impairment charge on its SUCCESS Enterprises unit. Adjusted EBITDA was 7.7 million dollars. Transaction volume rose 17 percent to 45.3 billion dollars, while agents and brokers on the platform fell 5 percent to 82,980.

For the full year, revenue rose 7 percent to 4.6 billion dollars and the company posted a net loss of 21.3 million dollars, including 34.0 million dollars tied to its antitrust litigation accrual. It returned 171.2 million dollars to shareholders through buybacks and dividends and ended the year with 113.6 million dollars in cash.

Founder and Chief Executive Glenn Sanford highlighted 1.8 million shares issued to agents in 2024, and eXp Realty Chief Executive Leo Pareja said 2025 would be a year of bold moves. The board declared a 0.05 dollar quarterly dividend.

eXp Third Quarter Revenue Rises 2 Percent to 1.2 Billion; Posts Loss on Antitrust Provision

Press Release | 11/7/2024

BELLINGHAM, Wash., November 7, 2024 --

eXp World Holdings reported third-quarter 2024 revenue of 1.2 billion dollars, up 2 percent from a year earlier. Net loss from continuing operations was 6.5 million dollars, or 0.04 dollars per diluted share, after an 18.0 million dollar litigation contingency provision tied to its antitrust settlement; adjusted net income excluding that provision was 7.8 million dollars.

Adjusted EBITDA rose 15 percent to 23.9 million dollars. Agents and brokers on the eXp Realty platform fell 4 percent to 85,249 as the company continued to remove less productive agents, while transaction volume rose 5 percent to 50.8 billion dollars. Cash and cash equivalents were 130.4 million dollars, and the company repurchased about 35.0 million dollars of stock in the quarter.

Founder and Chief Executive Glenn Sanford pointed to planned international expansion into Turkiye, Peru and Egypt, while eXp Realty Chief Executive Leo Pareja said several high-producing independent brokerages and teams joined the platform during the quarter.

eXp Agrees to Pay 34 Million to Settle Nationwide Real Estate Antitrust Lawsuits

SEC Filing | 10/1/2024

eXp World Holdings said it signed a settlement term sheet on October 1, 2024, to resolve on a nationwide basis pending commission-related antitrust class actions, including 1925 Hooper LLC v. The National Association of Realtors and related suits in multiple federal courts.

Under the deal, eXp would pay 34 million dollars into a qualified settlement fund and change certain business practices. Half of the cash would be due within 30 business days of preliminary court approval and the rest within a year of the first payment, with funds released from escrow only after final approval. The company said it would fund the settlement from available cash.

The settlement would release eXp, its subsidiaries and affiliates, and their U.S. independent contractor real estate agents from the covered claims. eXp denied the allegations and said the agreement is not an admission of liability. The settlement remains subject to preliminary and final court approval.

eXp Second Quarter Revenue Rises 5 Percent to 1.3 Billion as Agent Count Slips to 87,111

Press Release | 7/31/2024

BELLINGHAM, Wash., July 31, 2024 --

eXp World Holdings, parent of eXp Realty, reported second-quarter 2024 revenue of 1.295 billion dollars, up 5 percent from a year earlier. Net income from continuing operations was 11.8 million dollars, or 0.08 dollars per diluted share, and adjusted EBITDA rose 22 percent to 32.8 million dollars.

Agents and brokers on the eXp Realty platform fell 1 percent to 87,111 as the company continued to remove less productive agents. Real estate transactions rose 1 percent to 120,613, and transaction volume rose 7 percent to 51.9 billion dollars. Operating costs fell 4 percent, partly offset by higher legal expenses tied to the antitrust litigation.

The company repurchased about 48.2 million dollars of stock in the quarter and declared a third-quarter dividend of 0.05 dollars per share. Founder and CEO Glenn Sanford said he has taken a more active role in the international business, while eXp Realty CEO Leo Pareja highlighted new agent-productivity tools.

eXp First Quarter Revenue Rises 11 Percent but Posts Loss After 16 Million Antitrust Provision

Press Release | 5/1/2024

BELLINGHAM, Wash., May 1, 2024 --

eXp World Holdings reported first-quarter 2024 revenue of 943 million dollars, up 11 percent from a year earlier, while posting a net loss of 15.6 million dollars, or 0.10 dollars per diluted share, after recording a 16 million dollar antitrust litigation contingency provision.

Adjusted EBITDA was 11.0 million dollars, down 24 percent. Agents closed more than 37 billion dollars of transaction volume, up 12 percent, and transaction sides rose 8 percent to 110,976, even as the agent count fell 2 percent to 85,780. Cash and cash equivalents were 109.2 million dollars at quarter end after about 33 million dollars of share repurchases.

Founder and Chief Executive Glenn Sanford and newly named eXp Realty Chief Executive Leo Pareja said agent productivity and platform investments supported market-share gains. Principal Financial Officer Kent Cheng said the company made progress on a 20 million dollar profit-improvement plan.

eXp Realty Names Leo Pareja CEO as Founder Glenn Sanford Focuses on Holding Company

Press Release | 4/5/2024

BELLINGHAM, Wash., April 5, 2024 --

eXp Realty named Leo Pareja chief executive officer of the brokerage, effective immediately, succeeding founder Glenn Sanford, who will devote his full attention to serving as founder, chairman and chief executive of parent eXp World Holdings.

Pareja previously served as chief strategy officer and was credited with initiatives including eXp Exclusives, Revenos and enhancements to eXp Solutions. Sanford said Pareja's industry leadership had elevated the agent-value proposition around referrals and lead generation.

Pareja joined eXp Realty in 2022 after more than two decades in real estate, including roles with the National Association of Hispanic Real Estate Professionals. eXp Realty said it held top spots on the RealTrends 500 report in several categories and continued to operate with more than 85,000 agents across multiple countries.

Plaintiffs File Second Amended Complaint in eXp Realty Sex-Trafficking and Cover-Up Case

Court Filing | 2/28/2024

Plaintiffs in Acevedo v. eXp Realty filed a second amended complaint on February 28, 2024 in the U.S. District Court for the Central District of California, expanding allegations that eXp Realty, eXp World Holdings and founder Glenn Sanford put recruiting profits ahead of agent safety.

The amended pleading alleges company leaders allowed alleged sexual misconduct and trafficking-related activity by certain high-producing recruiters to continue because of the financial benefits of their recruiting programs, and that the company failed to protect agents. The case had already survived early dismissal efforts on cover-up related claims.

eXp Realty operates a cloud-based residential brokerage with tens of thousands of agents worldwide. The company has disputed the allegations in the litigation. The February amendment kept the matter as an active material legal risk for the company entering spring 2024.

eXp Posts 983 Million Fourth Quarter Revenue but 21.2 Million Loss After Virbela Impairment

Press Release | 2/22/2024

BELLINGHAM, Wash., February 22, 2024 --

eXp World Holdings, parent of eXp Realty, reported fourth-quarter 2023 revenue of 983 million dollars, up 5 percent from a year earlier, but a net loss of 21.2 million dollars that included a 9.2 million dollar impairment of goodwill and intangible assets tied to its Virbela segment. Full-year revenue was 4.28 billion dollars, down 7 percent, with a net loss of 9.0 million dollars.

Global agents and brokers on the platform rose 2 percent year over year to 87,515 at December 31, 2023, after the company offboarded a significant number of unproductive agents in the fourth quarter. Founder and Chief Executive Glenn Sanford said agent loyalty, measured by agent Net Promoter Score, reached record levels for the quarter and year.

Principal Financial Officer Kent Cheng said automation and other cost actions, combined with revenue enhancements, represented a potential 20 million dollar annualized benefit. Cash and cash equivalents were 126.9 million dollars at year end, and the company distributed about 189.1 million dollars to shareholders in 2023 through repurchases and dividends.

eXp Realty Named in Nevada Class Action Over Buyer Broker Commissions

SEC Filing | 2/1/2024

eXp World Holdings disclosed in a Form 8-K filed February 1, 2024 that its subsidiary eXp Realty has been named as a defendant in a new putative class action over real estate commissions.

The suit, Whaley v. National Association of Realtors et al., was filed January 25, 2024 in the U.S. District Court for the District of Nevada. It alleges that the defendants conspired to require home sellers to pay the commission of the buyer's broker, in violation of federal antitrust law and Nevada's unfair trade practices law.

The proposed class covers home sellers who listed properties on certain multiple listing services and paid a commission to a buyer's broker from January 15, 2020 to the present.

The filing added to a series of commission lawsuits naming eXp Realty that followed the October 2023 jury verdict against the National Association of Realtors and several large brokerages in Missouri.

eXp World Holdings Named in California Commission Antitrust Suit Covering Five Counties

SEC Filing | 1/23/2024

eXp World Holdings, Inc., parent of eXp Realty, disclosed in a Form 8-K filed January 23, 2024 that it and several of its subsidiaries have been named as defendants in another proposed class action over real estate commissions.

The suit, Gael Fierro et al. v. The National Association of Realtors, et al., was filed January 17, 2024 in the U.S. District Court for the Central District of California. It names the National Association of Realtors, regional Realtor associations and multiple listing services, and a number of brokerages, franchisors and brokerage owners.

The complaint alleges the defendants conspired to restrain trade by causing home sellers to pay buyer-broker fees and inflated commissions, in violation of federal and California antitrust laws and California unfair competition laws. The proposed classes cover sellers in Los Angeles, Madera, Fresno, Merced and Mariposa counties who used a listing broker affiliated with a defendant, listed the home on an MLS and paid a commission to a buyer's broker from January 17, 2020 to the present. Plaintiffs seek an injunction, declaratory relief, damages and legal fees.

Earlier in January, eXp disclosed that it and eXp Realty, LLC had also been named in Umpa et al. v. The National Association of Realtors et al., a proposed nationwide seller class action filed December 27, 2023 in the Western District of Missouri.

eXp Director Jason Gesing to Leave Board; Company Named in California Commission Suit

SEC Filing | 12/15/2023

eXp World Holdings, Inc., parent of eXp Realty, disclosed in a Form 8-K filed December 15, 2023 that director Jason Gesing notified the board on December 11 that he intends to resign from the board effective January 10, 2024, or earlier if a replacement is appointed. Gesing, a former chief executive of eXp Realty, will remain with the company as chief industry relations officer, a non-executive officer role. The company said his resignation was not the result of any disagreement.

eXp also said it was named as a defendant in Grace v. The National Association of Realtors, a putative class action filed December 8 in the U.S. District Court for the Northern District of California. The suit, brought on behalf of sellers who listed homes on the Bay Area Real Estate Information Service, alleges that NAR, regional Realtor associations and brokerages conspired to make sellers pay buyer-broker fees and inflated commissions in violation of federal and California antitrust and unfair competition laws, and seeks treble damages and an injunction.

The suit was at least the third commission-related class action naming eXp since late October 2023, and the company again warned that more antitrust litigation was possible.

eXp World Holdings Added as Defendant in Georgia Home-Seller Commission Class Action

SEC Filing | 12/11/2023

eXp World Holdings, Inc., parent of eXp Realty, disclosed in a Form 8-K filed December 11, 2023 that it has been added as a defendant in a proposed class action over real estate commissions in federal court in Atlanta.

The suit, originally captioned Phillips, et al. v. The National Association of Realtors et al., was filed November 22, 2023 in the U.S. District Court for the Northern District of Georgia against the National Association of Realtors and several unaffiliated brokerages. On December 6 the complaint was amended to broaden the case, replace the proposed class representatives and add more brokerages as defendants, including eXp.

The amended complaint alleges the defendants took part in a system that caused home sellers to pay inflated buyer-broker commissions, in violation of federal and Georgia antitrust laws and Georgia deceptive trade practice and consumer protection statutes. Plaintiffs seek an injunction barring defendants from requiring sellers to pay buyer brokers or otherwise restricting competition among brokers, along with declaratory relief, damages or restitution, exemplary damages, interest and legal fees, and assert that the defendants are jointly and severally liable.

The filing added to a string of commission antitrust suits naming eXp since late October 2023. eXp Realty is a cloud-based brokerage whose agents can earn revenue share and equity for helping attract other agents.

eXp World Holdings CFO Jeff Whiteside to Resign; Company Named in Second Commission Class Action

SEC Filing | 11/9/2023

eXp World Holdings, Inc., parent of eXp Realty, disclosed in a Form 8-K filed November 9, 2023 that Jeff Whiteside notified the company on November 4 that he would resign as chief financial officer and chief collaboration officer effective December 1, 2023 to pursue other opportunities. The company said the resignation was not the result of any disagreement.

The board said it would search for internal and external candidates. If no successor is named by December 1, Chief Accounting Officer Jian "Kent" Cheng will also serve as principal financial officer until a permanent CFO is appointed.

In the same filing, eXp said it was named on November 2 as a defendant in Batton v. Compass, Inc., a putative class action in the U.S. District Court for the Northern District of Illinois on behalf of certain home buyers. The suit alleges the defendant brokerages participated in a system that caused sellers to pay inflated buyer-broker commissions in violation of federal antitrust law and seeks an injunction, damages and treble damages. eXp said additional antitrust litigation was possible.

eXp Realty Parent Third Quarter Revenue Dips 2 Percent to 1.2 Billion; Agent Count Rises 5 Percent

Press Release | 11/2/2023

BELLINGHAM, Wash., November 2, 2023 --

eXp World Holdings, Inc., parent of eXp Realty, reported third-quarter 2023 revenue of 1.2 billion dollars, down 2 percent from a year earlier. Gross profit fell 10 percent to 83.6 million dollars and net income was 1.3 million dollars, or 0.01 dollars per diluted share, compared with 0.03 dollars a year earlier. Adjusted EBITDA rose 53 percent to 19.0 million dollars.

Agents and brokers on the eXp Realty platform rose 5 percent to 89,156 across 24 global markets as of September 30. Transactions increased 1 percent to 139,480, while transaction volume fell 4 percent to 48.5 billion dollars. International realty revenue rose 47 percent to a record. Founder, Chairman and Chief Executive Glenn Sanford said the company's U.S. agents outperformed a slower housing market.

The company repurchased about 55.9 million dollars of stock during the quarter, ended September with 120.1 million dollars in cash and declared a fourth-quarter dividend of 0.05 dollars per share.

eXp World Holdings Named in Nationwide Home-Seller Commission Antitrust Class Action

Court Filing | 10/31/2023

eXp World Holdings, Inc., parent of eXp Realty, was named as a defendant in a proposed nationwide class action filed October 31, 2023 in the U.S. District Court for the Western District of Missouri. Plaintiffs Don Gibson, Lauren Criss and John Meiners sued the National Association of Realtors along with eXp, Compass, Redfin, Weichert Realtors, United Real Estate, Howard Hanna Real Estate Services and Douglas Elliman.

The complaint alleges the defendants conspired to require home sellers to pay the broker representing the buyer, and to pay inflated amounts, through NAR's Mandatory Offer of Compensation Rule, which brokerages allegedly adopt and enforce by requiring or encouraging their agents to belong to NAR and follow its rules. The proposed class covers people who listed homes on a multiple listing service with an agent affiliated with one of the corporate defendants and paid a buyer-broker commission since October 31, 2019. The plaintiffs seek treble damages under federal antitrust law, injunctive relief and attorneys' fees.

The suit was filed the same day a federal jury in Kansas City found NAR and several large brokerages liable in a separate commission case. eXp later agreed in 2024 to a 34 million dollar settlement to resolve commission claims against it. eXp Realty recruits agents with revenue-sharing and stock incentives tied to agent referrals.

eXp Realty Parent Posts Second Quarter Revenue of 1.2 Billion; Agents Rise 7 Percent

Press Release | 8/3/2023

BELLINGHAM, Wash., Aug. 3, 2023 --

eXp World Holdings, Inc., parent of eXp Realty, reported second-quarter 2023 revenue of 1.233 billion dollars, down 13 percent from a year earlier. Gross profit was 96.5 million dollars. Net income was 9.4 million dollars, or 0.06 dollars per diluted share, and adjusted EBITDA was 24.7 million dollars. Cash and cash equivalents were 124.7 million dollars.

Agents and brokers on the platform rose 7 percent to 88,248. Closed transactions fell 9 percent to 137,199 and transaction volume fell 16 percent to 48.6 billion dollars. International Realty revenue rose 35 percent to a record. The company repurchased about 48.8 million dollars of common stock in the quarter and declared a third-quarter cash dividend of 0.05 dollars per share.

Founder, chairman and chief executive Glenn Sanford said the cloud-based model and agent investments supported profitability despite lower residential transaction volume.

eXp Realty Parent Posts First Quarter Revenue of 851 Million; Agents Rise 12 Percent

Press Release | 5/2/2023

BELLINGHAM, Wash., May 2, 2023 --

eXp World Holdings, Inc., parent of eXp Realty, reported first-quarter 2023 revenue of 850.6 million dollars, down 16 percent from a year earlier. Gross profit was 73.1 million dollars. Net income was 1.5 million dollars, or 0.01 dollars per diluted share, and adjusted EBITDA was 13.3 million dollars. Cash and cash equivalents were 122.8 million dollars.

Agents and brokers on the platform rose 12 percent to 87,327. Closed transactions fell 10 percent to 102,305 and transaction volume fell 20 percent to 33.2 billion dollars. International Realty revenue rose 52 percent to a record for the segment. The company repurchased about 29.9 million dollars of common stock in the quarter and declared a second-quarter cash dividend of 0.045 dollars per share.

Founder, chairman and chief executive Glenn Sanford said the cloud-based model and balance sheet allow continued investment in agent experience despite the residential real estate downturn.

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.