Archive | News

eXp Realty Named a Best Place to Work

“At eXp Realty, we work incredibly hard to maintain an innovative, transparent and collaborative culture that aligns with our core values and shapes our culture,” said Vicki Olafson, eXp Realty vice president of employee experience. “Our staff and agents are like family and we are beyond thrilled to hear such positive feedback.”

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Posted in eXp, General, News

eXp Realty Reaches Another Milestone – 6,000 Agents

It was only 6 weeks ago when eXp Realty announced reaching 5,000 agents.  The growth continues as this weeks it was announced that a new milestone of 6,000 agents nationwide is reached.  This reflects a growth rate of 172% – unbelievable.  Since the beginning of the year, the number of agents who joined the eXp Realty family more than doubled.  With a focus on innovation, eXp Realty is changing the way that agents, brokers and consumers work together.

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Posted in Agents, Brokers, eXp, General, News

eXp World Holdings Reports Record Third Quarter 2017 Results

“eXp World Holdings finished the third quarter of 2017 with another quarter of record revenue, further solidifying our foundation for long-term growth,” said eXp WorldHoldings

CEO and Chairman Glenn Sanford. “Our rapidly growing agent and broker family helped us achieve a major 5,000-agent milestone, which we announced at our fourth annual national conferen

ce in early October. As we continue to expand into new markets and deeper into existing ones, it is clear our business model of delivering strong economic, technology and marketing solutions resonates with agents and brokers. We are excited about the continued success and opportunities in front of us.”  CONTINUE READING……

Posted in eXp, News

eXp Continues to Invest in New Technology

Real estate agents are inherently mobile and eXp Realty allows them to work anywhere, anytimethrough eXp World and its new mobile app. eXp World Mobile gives agents the convenience and flexibility to audibly join eXp World meeting rooms from anywhere. This app is perfect for helping on-the-go agents participate in trainings and events, along with company and team meetings from nearly anywhere.   CONTINUE…..  

Please feel free to come enjoy our cloud office environment.  We have 25 – 30 hours each week of live training.  It’s LIVE and INTERACTIVE.  Nothing like this exists in our industry.

CLICK HERE AND SIMPLY FOLLOW THE LINKS

Posted in eXp, News

Stock News Now (SNN) – Candid Interview with Glenn Sanford, Founder and CEO eXp Realty

Founder and CEO of eXp Realty, Glenn Sanford, discusses the amazing growth and future of eXp Realty.  How did he build a huge real estate company without bricks and mortar?  How does that compare to the typical office?

 

Posted in Brokers, eXp, News0 Comments

In The Mist Of Tragedy George Huntoon Goes Above and Beyond For Others

As Hurricane Harvey swept across lower Texas one eXp Realty agent goes above and beyond the call of duty to save countless lives.  George Huntoon, an agent at eXp Realty, now a local hero, delays the emotion of his own personal losses and goes to work saving other lives.

Insert from Forbes article:

George discovered his client and friend (a single mom with two kids and two dogs) feared for their lives. They called 911 but only got recordings to “stay on the line.” George was anxious about how to help. Is it safe? He (and many others with boats) couldn’t stand idle and watch Houstonians wash away on TV. Like police, firemen, and the deployed Texas National Guard, he set out to save people, knowing it’s a dangerous mission.

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Posted in Agents, Brokers, eXp, News

Agents Increased 180% – Second Quarter Results

eXp World Holdings, Inc. Reports Record Second Quarter 2017 Financial Results Revenues in the second quarter of 2017 increased 198% to $39.6 million, compared to $13.3 million in the same year-ago quarter.

Sequentially, this represents growth of 80% when compared to $22.0 million in the first quarter of 2017.
Net income in the second quarter of 2017 increased to $3.2 million, or $0.05 per diluted share, compared to net loss of $6.0 million, or $(0.12) per diluted share in the same year-ago quarter.

“We expect the pace of growth to continue in the second half of 2017, as we leverage the viral growth aspect of the eXp Realty model and growing our brand throughout North America”. Glenn Sanford, CEO

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Posted in eXp, News

Through the years – Impressive

The numbers don’t lie.  We are building at an unbelievable pace impressing and surpassing the history of any other brokerage.  Even the big companies took more than 12 years to surpass the 1,000 mark.

While some may stay on the side lines watching to see what happens, there are many of agents that see the full potential of what eXp Realy offers their agents.  Full ownership from the first sale, low caps ($16,000) High commission splits (80/20), stock awards, equity programs plus over 25 hours of live training every week.  

It’s worth your time to learn more.  REACH OUT TO ME– let’s talk.  

  • 2017 – Surpassed 4000 agents in July

  • 2017 – eXp Realty named Finalist – Most Innovative Brokerage – Inman News

  • 2016 – Surpassed 1000 agents in February

  • 2016 – Surpassed 1000 agents in February

  • 2016 – eXp Realty is in 35 states and Alberta Canada

  • 2015 – Net Revenues up 71% Year over Year

  • 2015 – For the full year ended net revenues increased by 71% to $22.87 million from $13.37 million.

  • 2015 – eXp Realty Cashflow Positive on $16,400,000+ Trailing 12 Month Revenues

  • 2013 – eXp Realty International became a publicly traded company (EXPI)

  • 2012 – Glenn Sanford named Inman Top 100 Most Influential in Real Estate

  • 2011 – eXp Realty featured in Swanepoel Trends Report

  • 2011 – eXp Realty Finalist Inman Most Innovative Brokerage of the Year

  • 2009 – Glenn Sanford Founded eXp Realty, LLC

  • 2006 – Glenn Sanford Top 50 REALTOR at Keller Williams International

Posted in eXp, News

Initiating Coverage With an Outperform Rating

The following is an excerpt from the William Blair Report on eXp World Holdings.

The Agent Compensation Model

We believe that eXp’s agent compensation model will help grow the number of agents committed to the platform, decrease attrition (but still leave room for management to get rid of the wrong agents if necessary), better align shareholders and agents (which should be good for the stock), and create a more durable model across cycles.

EXp has set up a capped commission structure with options for commissions and revenue share to be partly paid in equity. Furthermore, agents who refer other agents to the platform can earn more equity and “passive” income derived from revenue-share agreements from referred agents’ completed transactions.

Agents receive an 80/20 commission split on the ϐirst $80,000 in gross commission income (GCI) and 100% of the commission beyond $80,000 in GCI. We believe the average home sale price for an eXp agent is about $275,000, which implies the typical agent would do 12 to 15 transactions at an 80/20 split and deals beyond that level would be paid out at 100%.

Agents receive 75 shares in the company for their ϐirst closing and 250 shares upon “capping” (reaching the $80,000 GCI hurdle). They also receive 250 shares for each recruit who signs on with eXp and completes his or her ϐirst transaction. These share awards were higher in the earlier days of the company and are gradually decreasing as eXp’s agent count grows.

On the expense side of the equation, agents pay a $99 one-time fee for basic setup (business cards, online presence), a $50 monthly technology fee, and a $420 yearly tuition fee for eXp University (more on eXp University later in this report). Agents also pay a $25 broker review fee and a $30 E&O insurance fee for each transaction until they reach the $80,000 GCI threshold.

In the case of agents who have capped out (gone over $80,000 in GCI), they pay a $250 transaction fee (capped at $5,000 per year), a $25 broker review fee, and a $30 E&O insurance fee (which is capped at $500 per year, or roughly 17 deals per year).

Agents are responsible to a large extent for their own marketing and advertising spending; eXp can and does facilitate lead generation with a proprietary listing service called EXPLS, which has more than 900 online outlets, including some major hubs like Trulia, Yahoo Real Estate, Zillow, and Homes.com. This solution and a Google AdWord offering called “Making it Rain” are some of the services provided by eXp for a monthly fee, but a large majority of agents are generating leads and stirring up business on their own.

eXp University As part of eXp’s commitment to virtual collaboration and alignment, eXp University is an online, avatar-driven environment where agents take part in sales and service training, receive technology education, and collaborate with other eXp agents. Each agent has his or her own avatar and likely uses the low-cost support services to a large degree in their early years.

One of the most frequent complaints from new agents at any brokerage is the lack of training provided to become a productive member of the team. Either there is not direct or frequent access to brokers because of the size and time constraints of larger offices or the boutique nature of a smaller office can cause infringement concerns among other agents. EXp University offers a virtual 3-D world in which new and senior agents can receive more than 25 hours of training every week and collaborate with other agents worldwide to share best practices and new approaches without the concern of losing a deal.

 

GO HERE FOR THE FULL REPORT

Posted in eXp, News

Another Milestone – 166% Growth Rate

Presently one of the fastest growing real estate companies in country.  Offering outstanding tools, ownership opportunities and a revenue share program that can set you for life, eXp Realty has been growing at this pace for a few years.   Time to get in on the fun.

Look around this site – do your homework and then give me a call – we need to talk.

Jim Girard 864.414.4675   Jim@JimGirard.com  or just fill out THIS FORM

Posted in eXp, News