By Lyle Seltzer
The first cloud-based real estate brokerage, eXp—a subsidiary of eXp World Holdings—is turning heads in the real estate industry. For the full year of 2018, eXp World Holdings revenue increased 220 percent to a record $500.1 million compared to $156.1 million in 2017. The number of agents and brokers on the eXp Realty platform increased by 139 percent to 15,570 at the end of 2018, compared to 6,511 at the end of 2017. The current agent count has risen to over 18,000. Residential transactions closed for 2018 rose 195 percent to 74,678 compared to 25,299 in 2017 with transaction volume increasing 226 percent to $19.8 billion compared to $6.1 billion in 2017. New York Lifestyles sat down with eXp Realty Agent Lenora Marshall to learn more about the company.
What makes eXp Realty different than other real estate brokerages?
Being the first cloud-based real estate brokerage, eXp Realty is the largest residential real estate brokerage by geography in North America, and the first and only real estate brokerage to operate as one company-owned brokerage in all 50 states.
Can you tell us a little more about the ownership structure and your experiences?
Sure. We have redesigned the traditional brokerage to create a company where agents can become shareholders at eXp Realty. Every agent has the unique opportunity to become a shareholder in their own company and celebrate the company’s financial success. From a financial standpoint, I have been able to purchase stock with 5 percent of my commission at 20 percent under the market price and have been awarded stock shares for my closings capping at a certain level. On top of that, this year I achieved a level of production to qualify for the eXp Realty ICON agent award program where I will receive $16,000 in publicly traded eXp World Holdings, Inc common stock.
What are some other benefits of working at eXp Realty?
There are many: eXp Realty is known throughout the industry as one of the most innovative brokerages and its agents have access to some of the most powerful technologies in real estate including top–tier lead generation software, transaction technology and content marketing tools—all at no additional cost.
What is the training and the workday like?
I love that I can take classes in the cloud. I can go to the IT support in the cloud for help or even hop in and speak with my broker.
Agents collaborate with industry experts nationwide so that buyers and sellers know they are receiving the highest quality service across the country.
Thanks Lenora that was very insightful.
For more information on eXp Realty, visit lenoramarshall.exprealty.careers.