Earlier
today, eXp World Holdings, Inc. (OTCQB: EXPI) announced the addition of Sally
and Stephen Koss, founders of the respected Landmark brand in Greater Boston,
to its Agent-Owned Cloud Brokerage™ after more than three decades as
franchisees under the RE/MAX (NYSE: RMAX) umbrella. Over the past 31 years,
Sally and Stephen Koss have successfully developed one of the strongest real
estate brands in Southern New England, operating a number of offices throughout
the state of Massachusetts. Their decision to exit the RE/MAX system in favor
of eXp Realty’s high-engagement, low overhead business model highlights the
marketability of the company’s innovative agent-ownership model in the rapidly
evolving real estate industry.
“With
eXp we have access to ground-breaking real estate technology to better serve
our agents and clients,” Sally Koss stated in today’s news release. “Most
importantly though, we are able to thank our agents by providing them with the
very same opportunities that we have — ownership as fellow shareholders able to
build organizations within and across markets.”
In
addition to offering equity incentives to its agents and brokers, eXp Realty
has developed a comprehensive cloud environment designed to offer the systems,
support, culture and community required for its agents and brokerage-owners to
thrive despite the unpredictability of the economic landscape. This formula has
proven extremely popular, with EXPI’s agent base surpassing 1,100 members in
the first quarter of 2016, marking a 100 percent year-over-year increase. The
company built on this success last week when it was named among the best places
to work by both The Washington Post and the Atlanta Journal-Constitution, and
this recognition is catching the attention of some of the country’s most
seasoned and successful real estate professionals.
“While
there are other companies in the industry that are publicly held, the driving
force behind eXp’s public company status is to give direct ownership to its
agents and brokers,” continued Koss. “That’s a game-changer for us.”
Coming
off a first quarter during which it achieved year-over-year revenue growth of
107 percent to more than $7.1 million, EXPI’s success in attracting top-level
agents and brokers such as Sally and Stephen Koss sets the stage for additional
financial growth. In line with this goal, the company is seeking to deliver a
value proposition that outpaces anything the competition has to offer,
effectively making it “irresponsible for an agent and broker to hang their
license anywhere else,” according to Glenn Sanford, chairman and CEO of EXPI.
eXp Realty’s Agent-Owned Cloud Brokerage™ currently includes more than 1,240
real estate professionals spanning 38 states and Alberta, Canada.
For
more information, visit the company’s website at http://investors.exprealty.com
MissionIR is committed to connecting the investment community with companies that have great potential and a strong dedication to building shareholder value. We know our reputation is based on the integrity of our clients and go to great lengths to ensure the companies represented adhere to sound business practices.
Sign up for “The Mission Report” at www.MissionIR.com
Please see disclaimer on the MissionIR website http://www.missionir.com/disclaimer.html
