Business
eXp Realty Pays More Than $230 Million in Revenue Share and Equity Benefits to Agents and Brokers in 2023
The compensation highlights the company’s unwavering commitment to agent success BELLINGHAM, Wash., March 11, 2024 (GLOBE NEWSWIRE) -- eXp Realty®, “the most
About this update from Exp World Holdings, Inc.
[{"type":"text","content":"The compensation highlights the company’s unwavering commitment to agent success\nBELLINGHAM, Wash., March 11, 2024 (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 announced its 2023 revenue share and agent equity distribution statistics, underscoring its competitive compensation framework as a catalyst for ongoing agent expansion. The company paid agents and brokers over $230 million in revenue share and equity benefits in 2023. Revenue share and equity paid to agents and brokers highlight eXp Realty's steadfast dedication to fostering agent growth and success through innovative compensation structures: Revenue share to agents was $197.9 million in 2023.Through its innovative agent growth incentive program, eXp World Holdings issued approximately 2.22 million EXPI shares to eXp Realty agents and brokers in 2023, with an estimated value of approximately $34.7 million, showcasing a commitment to agent ownership and wealth-building opportunities.Despite market challenges, eXp Realty continued to lead by distributing an unparalleled amount of profit/revenue share and equity benefits to agents and brokers, more than any other real estate brokerage model or platform. \"Our mission is simple: empower agents to succeed and solve their biggest pain points,” said Glenn Sanford, Founder, and CEO of eXp Realty. “Before we created this company, real estate agents were not offered any meaningful ownership in the brokerages they were part of, so we built eXp to compensate our agents for their contributions to our growth. We're not just a brokerage, we're a community of forward-thinkers committed to shared growth opportunities. Despite market challenges, our resilient model continues to thrive, proving that when our agents succeed, we all do.\" Sanford further added, \"Our unique approach to agent compensation and equity ownership is a testament to our belief in shared success. As we continue to build in the evolving real estate landscape, our focus remains on empowering agents, fostering their growth, and ensuring they have a significant stake in the collective success of our company.\" About eXp World Holdings, Inc. eXp World Holdings, Inc. (Nasdaq: EXPI) is the holding company for eXp Realty®, Virbela® and SUCCESS® Enterp...