eXp Announces the Opening of Spain and 3 New Countries for Third Quarter of 2021

Bellingham, Washington, UNITED STATES


BELLINGHAM, Wash., May 17, 2021 (GLOBE NEWSWIRE) -- eXp Realty, one of the fastest-growing, global real estate companies and a subsidiary of eXp World Holdings, Inc. (Nasdaq: EXPI), today announced the opening of eXp Spain, as well as plans to expand its real estate operations into Germany, Panama and Japan in the third quarter of 2021. The announcement comes after successful launches in five new markets this year, including Puerto Rico, Brazil, Italy, Hong Kong and Colombia. By the end of the third quarter, eXp Realty will have a presence in 19 countries.

Throughout the past year, eXp continued to gain global market share. eXp Realty recently announced a 77% increase in agent growth globally in Q1 2021 versus the prior year quarter. Today, the eXp Realty platform has more than 54,000 agents across its international locations.

“We continue to see incredible interest in the eXp model across the globe, driven by its agent-centric focus,” said Michael Valdes, President of eXp Global. “With the addition of Germany, Panama and Japan, we are solidifying our footprint across the EMEA, CALA and APAC regions and further developing strategic footholds in each. Germany has one of the largest and most stable real estate markets in Europe, and is a key component to our growth on the continent, joining the UK, France, Portugal, Italy and today’s opening of Spain.

“Additionally, Panama has long boasted a vibrant real estate market with attractive opportunities for foreign investment, and Japan has one of the strongest real estate markets in the world in terms of transaction volume. We are very confident in the growth potential of each of these countries,” concluded Valdes.

As part of the expansion into the new markets, eXp will hire experienced leaders in each country to head up local teams who will be responsible for agent operations and services.

eXp Spain is led by Renata Sujto, a global real estate veteran who has launched real estate and tech products across multiple global markets and is a strong fixture in the Spanish real estate community.

“The level of excitement we are receiving from agents demonstrates how innovative and entrepreneurial Spanish agents are, and they have become even more so after the pandemic. It is incredibly exciting to offer our solution to such an interesting body of professionals,” said Sujto.

eXp Realty offers a unique financial model for residential and commercial real estate agents. In addition to an attractive commission structure, agents are provided with an opportunity to earn additional income by helping to grow the company’s agent base globally and earn equity in the company through listing and selling activities. eXp’s cloud-based brokerage is powered by Virbela, the company’s immersive and collaborative platform, which enables its agents to communicate, meet and conduct business in a virtual world.

About eXp World Holdings, Inc.

eXp World Holdings, Inc. (Nasdaq: EXPI) is the holding company for eXp Realty, Virbela and SUCCESS Enterprises.

eXp World Holdings and its global brokerage, eXp Realty, is one of the fastest-growing real estate tech companies in the world with more than 54,000 agents in the United States, Canada, the United Kingdom, Australia, South Africa, India, Mexico, Portugal, France, Puerto Rico, Brazil, Italy, Hong Kong, Colombia and Spain, 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 an immersive 3D platform that is deeply social and collaborative, enabling agents to be more connected and productive.

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. 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.

A photo accompanying this announcement is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/40aed1b6-836c-4292-938a-49c528ba78d7

Media Relations Contact:

eXp World Holdings, Inc.

mediarelations@expworldholdings.com

Investor Relations Contact:

MZ Group – MZ North America

investors@expworldholdings.com

 


eXpGlobalQ3