EXp Realty heads overseas, expanding to the UK and Australia

The brokerage that rewards agents with equity and lets them communicate in a 3D virtual world already has a sizable presence in the US and Canada

EXp Realty announced on Wednesday that it is expanding its residential brokerage operations to the United Kingdom and Australia, its third and fourth countries after current markets in the U.S. and Canada.

The company, which rewards agents with equity in the company when they hit certain sales milestones, did not reveal an exact time frame, or specific locations within the countries, but noted it has hired local teams to lead expansion and brokerages operations in each.

Adam Day, who launched one of the first online estate agencies in the U.K. will serve as the expansion leader for eXp Realty in the U.K. Stephen Lea, who has worked in leadership roles with Sotheby’s International Realty, RE/MAX and Coldwell Banker franchises, will serve as the expansion leader for Australia.

“We are excited to have the UK and Australia as our first two countries as we embark on eXp Realty’s international expansion outside of North America,” Jason Gesing, the executive vice president of business development at eXp World Holdings, the parent company of eXp Realty, said in a statement.

“We look forward to our cloud campus being populated by real estate professionals from around the globe as they conduct business, collaborate with each other and develop meaningful personal and professional relationships across borders and cultures.”

The move comes amid a time of big expansion for eXp Realty, which just announced earlier on Wednesday it was adding four Canadian provinces to its portfolio, joining all 50 U.S. states.

The brokerage, which trains agents and lets them communicate with brokers and one another through a 3D virtual campus reminiscent of an online video game, currently has more than 19,000 agents in North America.

Email Patrick Kearns

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