Business
eXp Realty Paid Over $240 Million in Revenue Share and Equity Benefits to Agents and Brokers in 2022
Aligning the interests of agents and brokers with the company they own is key to eXp Realty’s long-term growth strategy BELLINGHAM, Wash., March 03, 2023
About this update from Exp World Holdings, Inc.
[{"type":"text","content":"Aligning the interests of agents and brokers with the company they own is key to eXp Realty’s long-term growth strategy BELLINGHAM, Wash., March 03, 2023 (GLOBE NEWSWIRE) -- eXp Realty®, “the most agent-centric real estate brokerage on the planet™” and the core subsidiary of eXp World Holdings, Inc. (Nasdaq: EXPI), today released its 2022 revenue share and agent equity payout figures, demonstrating how its competitive compensation model underpins continued agent growth. Revenue Share and Equity Paid to Agents and Brokers Continues To Increase Year-over-Year Revenue share to agents increased 20% to $202 million in 2022.eXp Realty distributed more profit/revenue share benefits last year to agents and brokers than any other real estate brokerage model or platform.As part of our agent equity program, eXp World Holdings issued over 2.5 million EXPI shares to eXp Realty agents and brokers valued at more than $42.5 million. “When eXp Realty was founded, we set out to build the most agent-centric brokerage that solved the biggest pain point in real estate for agents,” said Glenn Sanford, Founder and CEO of eXp Realty. “Historically, agents were generally not offered meaningful ownership in the brokerages they were part of and the profit/revenue sharing models didn’t provide a viable path to potential retirement for the vast majority of agents. “With this in mind, an important part of building eXp was designing a truly aligned compensation model that rewards agents for their production and contribution to the company’s growth. As we have disclosed in our fourth quarter and full-year 2022 results, our model and core business has proven to be sustainable in both good and bad markets. More importantly, it proves that we are delivering on the promise we made to agents when eXp was founded in 2009. By building the most agent-centric real estate brokerage on the planet, we continue to grow, improving the lives of agents around the world. All that being said, since becoming a public company in 2013, EXPI’s stock has outperformed all other publicly traded real estate brokerages, franchisors and brokerage/franchisor conglomerates. We also enjoy the highest market cap among all publicly traded residential real estate brokerage platforms, showing once again that focusing on the agent experience isn’t just good for the agent, but it has also been go...