Revenue for eXp World Holdings jumped 153 percent year-over-year to a quarterly record high of $157 million, according to a first-quarter earnings report. 

Revenue for eXp World Holdings, the parent company of virtual cloud-based real estate brokerage eXp Realty, jumped 153 percent year-over-year to a quarterly record high of $157 million, according to the company’s first-quarter earnings report.

Despite that massive growth, the company operated at a net loss of $6.3 million, or a net loss of $0.10 per share in the first quarter, compared to a net loss of $10.7 million in the first quarter of 2018. EXp World Holdings slightly beat the consensus estimate of a net loss of $0.11 per share.

EXp Realty has been in growth mode, with agent count climbing to 17,929 at the end of the first quarter of 2019, an increase of 93 percent compared to the first quarter of 2018.

The increase in agent and broker count was a key reason the company closed 22,307 transactions in the first quarter of 2019, a year-over-year increase of 136 percent. Sales volume in the first quarter was $5.8 billion, an increase of 149 percent year-over-year.

Much of the focus in the first quarter was on agent tools, including the implementation of a safety check-in tool powered by Facebook and the launch of an on-demand home tour mobile app, which is live in Austin and Nashville.

“As the most agent-centric real estate brokerage on the planet, eXp kicked off 2019 with new and expanded agent programs and tech initiatives to ensure every agent and broker at eXp Realty has the tools and training to establish or grow their business,” eXp World Holdings CEO, Chairman and Founder Glenn Sanford said in a statement. “This has helped us to continue our rapid growth with our ongoing commitment to creating a seamless, tech-enabled and incredibly rewarding agent experience that is unparalleled within the industry.”

EXp World Holdings also implemented its revamped agent equity program in the first quarter, offering agents a set dollar amount’s worth of shares instead of a certain number of shares when they hit certain milestones.

“We believe agents and brokers deserve the benefits of being a shareholder and income based on the level of their contribution – no matter where life takes them,” said Sanford. “We are happy to report that we are starting to see the benefits of the plan for both agents and the company reflected in revenue this quarter.”

The company recently has been contending with some management turnover in top executive roles and is also currently under investigation in California for dozens of state regulatory violations. 

Email Patrick Kearns

Show Comments Hide Comments
Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
By submitting your email address, you agree to receive marketing emails from Inman.
Thank you for subscribing to Morning Headlines.
Back to top
Only 3 days left to register for Inman Connect Las Vegas before prices go up! Don't miss the premier event for real estate pros.Register Now ×
Limited Time Offer: Get 1 year of Inman Select for $199SUBSCRIBE×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription