Qualifying independent teams and brokerages to receive financial incentives when joining eXp Realty
eXp Realty Announces Program for Culturally Aligned Independent Teams and Brokerages
BELLINGHAM, Wash., June 29, 2023 (GLOBE NEWSWIRE) — eXp Realty®, “the most agent-centric real estate brokerage on the planet™” and the core subsidiary of eXp World Holdings, Inc. (Nasdaq: EXPI), today announced the launch of its Boost program, designed to financially incentivize qualifying independent teams and brokerages to join eXp Realty.
As part of this program, eXp Realty will provide financial incentives to independent teams and brokerages that are culturally aligned, have more than 50 agents and a minimum of $100 million (US/CAN) in sales volume in the originating country over the previous 12-month fiscal period. International qualifications to be released. Additional qualifications apply. Cannot be affiliated with any non-independent franchise.
“We’re laser-focused on attracting and retaining the best agents in the business,” said Glenn Sanford, founder and CEO of eXp Realty. “Boost aligns the interests of independent teams and brokerages with eXp Realty through a shared commitment to our values, culture and growth goals. Our platform is designed to help individual agents and teams thrive. We understand the pressures that down markets place on independent teams and brokerages, and this program is intended to alleviate that stress and streamline the transition process.”
To ease any potential financial barriers to entry, Boost provides an incentive model that simplifies a move to eXp Realty. Once onboarded, the new brokerage can immediately begin reaping the benefits of joining eXp Realty, including stock equity, no overhead costs, no brokerage risk or liability, brokerage support and operations, agent support and services, revenue share opportunities and much more.
“eXp Realty is here to help you boost your business with financial incentives while transitioning to our ecosystem,” explained Michael Valdes, Chief Growth Officer, eXp Realty. “Our aligned compensation model, where agents are rewarded for both production and contributions to eXp’s growth, brings more value than ever before.”
Leo Pareja, eXp Realty Chief Strategy Officer, continued, “We are always challenging the status quo, especially when it comes to how we support our agents. Our commitment to providing our agents and brokers with a unique and empowering cloud-based platform has been central to our continued growth. We continue to experience a shift in the market and our goal is to grow together with independent teams and brokerages interested in joining us.”
Qualifying Criteria
- As part of this program, eXp Realty will provide financial incentives to independent teams and brokerages that are culturally aligned, have more than 50 agents and a minimum of $100 million (US/CAN) in sales volume in the originating country over the previous 12-month fiscal period. International qualifications to be released. Additional qualifications apply.
- Cannot be affiliated with any non-independent franchise.
- Must be culturally aligned with and committed to adhering to the eXp Realty model.
- Must be invested in their continued growth with eXp Realty.
- Must participate in the eXp Realty revenue share and agent equity programs.
- Must agree to incentive and retention terms and timelines.
eXp Realty reserves the right, in its sole discretion, to determine which qualifying independent teams and brokerages and the financial incentives that it will select and approve.
About eXp World Holdings, Inc.
eXp World Holdings, Inc. (Nasdaq: EXPI) is the holding company for eXp Realty®, Virbela and SUCCESS® Enterprises.
eXp Realty is the largest independent real estate company in the world with more than 88,000 agents in the United States, Canada, the United Kingdom, Australia, South Africa, India, Mexico, Portugal, France, Puerto Rico, Brazil, Italy, Hong Kong, Colombia, Spain, Israel, Panama, Germany, Dominican Republic, Greece, New Zealand, Chile, Poland and Dubai and continues to scale internationally. As a publicly traded company, eXp World Holdings provides real estate professionals the unique opportunity to earn equity awards for production goals and contributions to overall company growth. eXp World Holdings and its businesses offer a full suite of brokerage and real estate tech solutions, including its innovative residential and commercial brokerage model, professional services, collaborative tools and personal development. The cloud-based brokerage is powered by Virbela, an immersive 3D platform that is deeply social and collaborative, enabling agents to be more connected and productive. SUCCESS® Enterprises, anchored by SUCCESS® magazine and its related media properties, was established in 1897 and is a leading personal and professional development brand and publication.
For more information, visit https://expworldholdings.com.
Safe Harbor Statement
The statements contained herein may include statements of future expectations and other forward-looking statements that are based on management’s current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. Such forward-looking statements speak only as of the date hereof, and the company undertakes no obligation to revise or update them. Such statements are not guarantees of future performance. Important factors that may cause actual results to differ materially and adversely from those expressed in forward-looking statements include changes in business or other market conditions; the difficulty of keeping expense growth at modest levels while increasing revenues; and other risks detailed from time to time in the company’s Securities and Exchange Commission filings, including but not limited to the most recently filed Quarterly Report on Form 10-Q and Annual Report on Form 10-K.
Media Relations Contact:
Jennifer Zimmerman
eXp World Holdings, Inc.
mediarelations@expworldholdings.com
Investor Relations Contact:
Denise Garcia, Managing Partner
Hayflower Partners
investors@expworldholdings.com
A photo accompanying this announcement is available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/3f8ba6d7-bbe4-407d-824f-0389a57625e7
