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eXp Growth Opportunity
eXp Realty has experienced significant growth since its launch in 2009. The company's unique approach to real estate brokerage has attracted tens of thousands of agents worldwide. Here's a look at eXp Realty's growth and success:
- 2009: eXp Realty launched as a cloud-based brokerage, doing away with brick-and-mortar offices and offering all agents the same generous commission structure. Founder and CEO Glenn Sanford believed that this was the solution for how to reward agents for their hard work.
- 2010-2012: eXp Realty expanded its operations to several states in the US, including Arizona, California, and Florida.
- 2013: eXp Realty launched its revenue-sharing program, allowing agents to earn additional income by attracting new agents to the company.
- 2014: eXp Realty introduced its agent equity program, giving agents the opportunity to earn equity awards based on their production and tenure with the company.
- 2015-2017: eXp Realty continued to expand its operations, adding new states and international markets such as Canada and the UK.
- 2018: eXp Realty acquired Virbela, an immersive technology platform that creates software for business, events, and education. This acquisition led to the development of eXp World, a virtual campus where agents and staff interact.
- 2019-2021: eXp Realty experienced rapid growth, adding thousands of agents and expanding its operations to more than 15 countries worldwide.
- 2022: eXp Realty reported 12% agent growth and a net income of $1.5 million for Q1 2023. It also earned the Bravo Growth Award for the third straight year for its revenue growth and was ranked No. 1 in sides and agent count in T3 Sixty's 2023 Mega 1000 List. As of October 2022, eXp Realty had grown to 85,000 real estate agents.
- Present: eXp Realty continues to redefine real estate success by offering higher commission splits, access to cutting-edge technology tools, and seamless collaboration among a community of like-minded professionals.