Things
are looking good for eXp World Holdings, Inc. (OTCQB: EXPI). Spearheaded by its
unique real estate brokerage division, eXp Realty, the company has been
reporting steady growth over the past few months and is showing no signs of
slowing down. August in particular seems to have been an exceptional month for
the company, as it reported record revenue in the first two quarters and an
impressive increase in its brokerage agent base, surpassing the 1,500 agent
milestone for the first time.
The
growth didn’t stop there; eXp Realty management recently announced that its
Agent-Owned Cloud Brokerage™ welcomed 160 new members in August, bringing its
total number of agents to over 1,630, eXp Realty director of Cloud Leadership
& Growth David Gagnon said during an online leadership meeting of the
brokerage on August 26.
Along
with its agent base increase, the brokerage has been steadily expanding its
coverage and now serves a total of 41 states, the District of Columbia and
Alberta, Canada. The newest addition to its network of real estate
professionals is Alaska, where operations began on August 19.
eXp
World Holdings’ steady growth and record revenue of more than $13 million in
the second quarter of 2016 have also prompted the Fundamental Research Corp. to
update its analysis of the company. The independent research group that
specializes in the microcap and small-cap sectors highlighted eXp World
Holdings’ strong financial performance and growth and now anticipates a higher
overall revenue for both 2016 and 2017. Compared to its April report, the group
upped its forecast for 2016 to $48 million from $40 million and for 2017, for
$82 million from $72 million.
The
company largely owes its success and record figures to the innovative model of
real estate brokerage proposed by eXp Realty. Unlike most competitors that
still concentrate their activity around a brick and mortar office, eXp Realty
describes itself as a brokerage that heavily relies on cloud technologies and
the Internet to build an online community of real estate professionals.
Members
work in a cloud office environment which allows them round-the-clock access to
training features, collaborative tools and socialization methods to help them
share their knowledge and experience and build an efficient strategy together.
Even leadership meetings are held online in a virtual reality space where each
attending management member has an avatar.
The
platform allows agents and brokers to provide more efficient services to
consumers and increase their profits with a lower risk. Members also benefit
from revenue sharing programs and the opportunity of earning equity in exchange
for valued contributions to company growth.
For
more information about eXp World Holdings and its brokerage division, visit
www.eXpWorldHoldings.com.
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