One of the Fastest-growing Real Estate Companies Extends Innovative Business Model to the Portugal Market
BELLINGHAM, Wash., Dec. 08, 2020 (GLOBE NEWSWIRE) — eXp World Holdings, Inc. (Nasdaq: EXPI), the holding company for eXp Realty, one of the fastest-growing residential and commercial real estate companies in the world, today announced its expansion into Portugal, under the eXp Portugal banner. Portugal represents the seventh international expansion for the company. In addition to its robust U.S. presence, eXp Realty also operates in Australia, Canada, India, Mexico, South Africa, and the United Kingdom, with more than 39,000 agents across the globe.
eXp Realty offers a unique financial model for residential and commercial real estate agents, going beyond attractive commissions to provide its agents with revenue share and equity programs that include opportunities for stock awards. The model also offers proprietary marketing resources, including the company’s cloud-based environment and customized technology platform that enhances virtual prospecting, sales, training and communications for agents.
“We are thrilled to introduce eXp to continental Europe through our expansion into Portugal. The country’s Golden Visa program and tax abatements to attract foreign investment are ideally positioned for success with the eXp model,” said Michael Valdes, President of eXp Global. “In addition to increased revenue opportunities for agents, our virtual technology and valuable marketing resources give agents an enviable advantage and positions them well for the future of real estate.”
eXp Portugal is being led by Guilherme Grossman, Designated Managing Broker. Grossman brings over a decade of real estate experience in Portugal.
“It is with great satisfaction that we announce the arrival of eXp in Portugal. We are confident that our business model will be an asset not only for the agent community, but also for consumers who will experience a new way of doing business,” said Grossman. “Innovation is a key driver of eXp’s success, and we’re confident that eXp Portugal will contribute to and revolutionize the way real estate operates in the country.”
The company’s presence in Portugal will encompass a national footprint, including all major cities and states. Portugal represents one of five countries eXp Global has identified for expansion by the end of 2020. South Africa launched in October 2020, India and Mexico in November 2020, and the remaining country, France, will launch in December 2020.
About eXp World Holdings, Inc.
eXp World Holdings, Inc. (Nasdaq: EXPI) owns eXp Realty and Virbela.
eXp Realty, The Real Estate Cloud Brokerage, is one of the fastest-growing, global residential real estate companies with more than 39,000 agents in the United States, Canada, the United Kingdom, Australia, South Africa, Mexico and India. As a subsidiary of a publicly traded company, eXp Realty uniquely offers real estate professionals within its ranks opportunities to earn eXp World Holdings stock for production and contributions to overall company growth.
Virbela is an immersive technology platform for business, events and education. Its modern, cloud-based environment provides a virtual experience for workers, attendees, students and more to communicate, collaborate, meet and socialize. For more information, visit the company’s website at virbela.com.
For more information about eXp World Holdings, please visit the company’s website at 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. These statements include, but are not limited to, statements about the economic and social effects of the COVID-19 pandemic; continued growth of our agent and broker base; expansion of our residential real estate brokerage business into foreign markets; demand for remote working and distance learning solutions and virtual events; development of our new commercial brokerage and our ability to attract commercial real estate brokers; and revenue growth and financial performance. 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:
eXp World Holdings, Inc.
Mediarelations@expworldholdings.com
Portugal Media Relations Contact:
Rita Rousseau | YOLO™ Creative Communication Solutions
rita.rousseau@thisisyolo.com
Investor Relations Contact:
Greg Falesnik
MZ Group
Investors@expworldholdings.com