Earlier today, eXp Realty International Corporation (OTCQB:
EXPI) announced that it has changed its corporate name to eXp World Holdings,
Inc. in order to better reflect its commitment to utilizing cloud-based
technologies to create opportunities for entrepreneurial professionals across a
number of industries including and beyond real estate brokerage. This name
change will have no impact on EXPI’s trading symbol.
“This name change will allow us to continue to focus on the
tremendous growth and achievements happening within our real estate brokerage
division while delivering innovation and opportunity to other service
industries without causing confusion among the investing public,” Glenn
Sanford, founder and chief executive officer of EXPI, stated in this morning’s
news release.
Driven by its progress within its real estate brokerage
division, EXPI will continue to search out viable opportunities to leverage
cloud technology in order to create and deliver new opportunities beyond the
bounds of the real estate industry. Earlier this week, the company took a
significant step toward achieving this goal when it announced an agreement with
VirBELA, LLC, one of the leading developers of 3D, avatar-based, immersive
online worlds. Since 2009, EXPI has utilized VirBELA’s cloud-based technologies
to house, build and run its real estate brokerage operations. Now, the company
maintains exclusive rights to the platform within the real estate industry, as
well as an option to exclusive rights within a number of vertical industries,
including mortgage origination, mortgage lending, title and escrow and title
insurance.
“Our achievements within our real estate brokerage division
have demonstrated to us in a compelling way that entrepreneurial professionals
are willing and eager to embrace the cloud to transform business, ownership,
and collaboration and to avail themselves of new opportunities to earn, learn
and grow that otherwise wouldn’t be feasible,” added Sanford.
After welcoming its 1,000th agent in February, EXPI’s
Agent-Owned Cloud Brokerage™, eXp Realty, is currently positioned among the top
50 real estate brokerages in the United States based on agent count. Launched
in 2009 with an aggressive revenue sharing program, eXp Realty entered a period
of accelerated growth and retention in 2014 when it introduced an equity
sharing initiative for its agents and brokers. Since the end of 2014, the
company has more than doubled its number of agents while developing a strategic
foothold in 35 U.S. states, as well as Alberta, Canada. This growth has
positioned eXp Realty among the fastest growing brokerages in a number of
cities around the country, including major markets such as Austin, San Antonio,
Lafayette and Atlanta.
For more information, visit the company’s website at http://investors.exprealty.com
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