EXp World Holdings, the parent company of virtual real estate brokerage eXp Realty, closed an estimated $6.2 billion in transactions in the third quarter, a year-over-year increase of 239 percent, according to preliminary earnings.
The total transaction volume represents growth of 16 percent, compared to $5.3 billion closed in the second quarter. The company forecasts that its estimated revenue for the third quarter of 2018 will rise to $157 million, a year-over-year increase of 231 percent and a quarterly growth of 20 percent.
“Our estimated preliminary revenue of $157 million in the third quarter of 2018 is a direct result of our entire eXp Realty team iterating around the agent value proposition, which resulted in both tremendous agent growth as well as transaction and sales volume levels during the quarter,” said Glenn Sanford, Founder, CEO and Chairman of eXp World Holdings, in a prepared statement.
“As we continue to think about the various opportunities that this scale opens for us, we will continue to invest in core platform technologies in support of all of our amazing agents and brokers who choose to build their real estate business at eXp,” Sanford added.
EXp World Holdings will release its full third-quarter results Nov. 12.