Earlier
today, eXp World Holdings, Inc. (OTCQB: EXPI) announced the addition of
industry veteran Russ Cofano to its management team. Cofano will serve as
EXPI’s chief strategy officer and general counsel moving forward.
“I
have been looking for ‘the next great opportunity’ within the industry, and I’m
certain that I’ve found that opportunity at eXp,” Cofano stated in this
morning’s news release. “Unlike other new entrants, eXp is redefining the
brokerage model of the future from within. Glenn Sanford has assembled a
fantastic team and I’m excited to join them and use my various industry
experiences to help the company chart its course of success.”
In
total, Cofano brings more than 25 years of industry experience to the EXPI
team. In recent years, he has served as senior vice president of industry
relations for MOVE, Inc., operator of a network of real estate websites that
attracts more than 30 million monthly visitors, including REALTOR.com®.
Cofano’s duties in this role included developing strategy and business
relationships with leading organizations within the real estate industry, as
well as multiple listing services (MLS) and technology firms. In addition to
his work with MOVE, Inc., Cofano has also served as chief executive officer of
the Missouri REALTORS®, the largest trade association in the state of Missouri,
and as vice president and general counsel for John L. Scott Real Estate, which
was consistently ranked among the largest real estate brokerages in the
country.
“Russ
brings a wealth of experience and industry knowledge to the Company from
multiple perspectives,” Glenn Sanford, founder and chief executive officer of
EXPI, added in the news release. “We’re fortunate to be able to add Russ to our
team and believe he will have an immediate and lasting impact on the Company as
we continue to grow.”
EXPI
has continued to build on its success in expanding the reach of its Agent-Owned
Cloud Brokerage™ in recent weeks. In mid-July, the company launched eXp Realty
in New Jersey, bringing its total national presence to 43 states and the
District of Columbia. eXp Realty is also operational in Alberta, Canada.
Additionally, the company is now listed in more than 105 unique MLS, and its
network includes more than 1,400 real estate professionals, an increase of 62
percent from the beginning of 2016.
This
nationwide growth is particularly intriguing when studying EXPI’s most recent
financial results. In the first quarter of 2016, the company recorded revenues
of $7.1 million, an increase of 107 percent from the previous year. This total
correlated with a 106 percent year-over-year increase in agent count in its
real estate division.
For
more information, visit the company’s website at http://investors.exprealty.com
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