BrokerageIndustry News

Cloud-based brokerage eXp Realty nearly triples in size, adds 1,537 agents in 2016

Revenues rose 137 percent last year for eXp World Holdings, elevating to $54.2 million
  • Virtual brokerage shows booming growth in fourth quarter and full year 2016 earnings results.

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A brokerage in the cloud launched in 2009 just had a major growth spurt: eXp Realty almost tripled in size in 2016, according CEO, founder and chairman Glenn Sanford in announcing the company's annual results and fourth quarter figures. Revenues rose 137 percent in 2016 for eXp World Holdings, the holding company for eXp Realty, elevating to $54.2 million for the year's end, compared with $22.9 million in 2015. The growth is a result of the increased agent count and corresponding higher revenues from eXp Realty, the company said. In the fourth quarter of 2016, eXp Realty added 585 agents and brokers to its platform, an increase of over 300 percent on the same quarter in 2015. It added a total of 1,537 agents and brokers in 2016, an increase of 287 percent. eXp Realty, partially agent-owned, ended the 2016 financial year with 2,401 real estate professionals across 42 states, the District of Columbia and Alberta, Canada. On March 15, the brokerage passed the 3,000 agent mark....