eXp Realty’s Jason Gesing. Credit: eXp Realty

EXp Realty CEO Jason Gesing is stepping down from that role to become executive vice president for business development for the virtual brokerage’s parent company, eXp World Holdings, the company announced Friday.

Gesing joined eXp Realty in 2010 and became its CEO in 2016. He previously served as a managing broker, general counsel and president for the brokerage.

Gesing served as CEO of the brokerage itself, while eXp Realty founder Glenn Sanford has served as CEO of the parent company, eXp World Holdings.

When asked whether Gesing’s move from brokerage CEO to corporate executive vice president would constitute a promotion, demotion or lateral move, eXp spokeswoman Cynthia Nowak said: “This is a vitally important and new role as we grow and we need his expertise.”

Gesing will retain his role as an eXp World Holdings board member.

“During our more than eight years working together, Jason has demonstrated a unique ability to articulate the eXp Realty value proposition that will be invaluable as we look to leverage into other businesses which we believe will benefit all our stakeholders, whether as an agent, broker or shareholder,” Sanford said in a statement.

“We wouldn’t be able to make this shift if it wasn’t for the great team we have developed to run eXp Realty. They have enabled the company to grow by more than 200 percent in the last 12 months, which is faster than any time in the company’s history both in agent count as well as percentage year-over-year growth. I will look to this strong team to help as Jason transitions to this important new role.”

eXp Realty is a fast-growing virtual brokerage that boasts over 12,000 agents. Its agents work without brokerage offices and communicate via a virtual world that resembles a computer game. Agents receive company stock as part of their compensation, and the brokerage enjoyed a successful debut on the Nasdaq earlier this year.

Email Emma Hinchliffe

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