Earlier today, eXp Realty International Corporation (OTCQB:
EXPI) announced that it has entered into an agreement with VirBELA, LLC, one of
the leading developers of 3-D, avatar-based, immersive online worlds. As part
of this agreement, EXPI gains exclusive rights to the VirBELA platform within
the real estate industry, as well as an option to exclusive rights within a
number of related industry verticals, such as mortgage origination, mortgage
lending, title and escrow and title insurance.
“Since our inception, we have built a family of more than
1,100 professionals across 35 states and parts of Canada whose office,
workplace, and world is and has been 3-D, avatar-based online environments,”
Glenn Sanford, founder and chief executive officer of EXPI, stated in this
morning’s news release. “VirBELA represents the next generation of these
environments and recognizes their potential impact on business, collaboration,
and community.”
VirBELA was originally developed at the University of
California San Diego’s Rady School of Management using a $1.7 million grant
from the Graduate Management Admission Council. With this capital, VirBELA, LLC
successfully developed and demonstrated an immersive, 3D virtual-reality campus
environment that hosted a global business-simulation competition for management
students at top universities across three continents. Using the same tools,
VirBELA is able to create custom 3D simulations in order to support the
training and development needs of its partner organizations, which will allow
EXPI to offer a more collaborative platform to its growing base of agents and
brokers.
“No company has come close to leveraging immersive online
environments to the degree or in the ways that eXp has for the benefit of its
agents, brokers and shareholders,” Dr. Alex Howland, chief executive officer of
VirBELA, stated in the news release. “We believe firmly in the company’s
mission, management and growth and look forward to being an integral part of
its continued success going forward.”
Leveraging VirBELA’s innovative technology, EXPI, through
eXp Realty LLC, is able to provide 24/7 access to collaborative tools, training
and socialization features for real estate brokers and agents in a
fully-immersive, cloud office environment. To date, this platform has shown
effective in reducing agents’ overhead costs, increasing their profits and
improving the service value they are able to provide to clients. With these
benefits in mind, it’s little wonder that EXPI’s network of agents has
experienced such strong growth since its launch in October 2009. In early
March, the company welcomed the 1,000th real estate professional into its
family of agent-owners, positioning itself among the top 50 real estate
brokerages in the United States based on agent count.
EXPI offers an aggressive revenue sharing program that pays
agents a percentage of gross commission earned by fellow real estate
professionals whom they attract to the company. In 2014, EXPI launched its
initiative of sharing equity with its agents and brokers, effectively
catapulting the company into a period of accelerated growth and improved retention
that’s still underway.
For more information, visit the company’s website at http://investors.exprealty.com
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