eXp World Holdings, EXPI, Corporate Profile
eXp World Holdings, Inc. is the holding company for a number of companies most notably eXp Realty LLC, the Agent-Owned Cloud Brokerage® as a full-service real estate brokerage providing 24/7 access to collaborative tools, training, and socialization for real estate brokers and agents through its 3-D, fully-immersive, cloud office environment. eXp Realty, LLC and eXp Realty of Canada, Inc. also feature an aggressive revenue sharing program that pays agents a percentage of gross commission income earned by fellow real estate professionals who they attract into the Company. As a publicly-traded company, eXp World Holdings, offers professionals within its ranks opportunities to earn equity awards for production and contributions to overall company growth.
The home buying and selling process remains unfamiliar and often times emotional for most consumers. Consumers still depend on agents to help navigate the process, give insight into and lend a comparative perspective on properties, provide local market expertise, and negotiate and advocate on their behalf. Because of the magnitude of the buying or selling decision, the size of the asset that underlies that decision, and the emotional responses it frequently triggers, the vast majority of consumers will continue to rely upon agents and brokers for the foreseeable future.
With the emergence of the internet as the most powerful property marketing and advertising medium and the growing independence it has instilled in the consumer, the utility of the brick and mortar office location continues to diminish. Increasing numbers of consumers have little use for, and even less interest in visiting, a traditional real estate office. As a natural and inevitable consequence, substantial and growing numbers of real estate professionals are exiting traditional brokerage models, providing further evidence of the decline of the brick and mortar office.
Consumers leverage eXp’s internet marketing and cloud technology to find, buy or sell homes without a brick and mortar office. And finally, millions of Americans understand the benefits of technology and decreasing reliance on the traditional office. Despite these trends most traditional brokerages continue to allocate significant resources to physical locations.
As a cloud-based real estate brokerage eXp Realty has embraced and adopted a number of cloud-based technologies in order to grow an international brokerage without the burden of physical bricks and mortar and/or redundant staffing costs.
The Company has been engaged in the marketing and sale of residential real estate with the goal of being the first truly agent-owned, cloud-based, full service, global real estate brokerage company delivering around-the-clock access to collaborative tools and professional development for managing real estate brokers and agents. The business model was created in order to increase brokers’ and agents’ listings and sales and reduce their overhead and capital requirements.
Source: The Company, OxBridge Research, Daily Stock Deal, OTC King, OTC Stock Wire
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