Record revenue, surging growth, acquisitions, global expansion and a bolstered leadership team are just a few of the highlights of eXp World Holdings’ phenomenal success in 2020, as outlined in eXp’s 2020 Annual Report.
> Previous years’ annual reports are available here
2020 is the 11th year of eXp’s existence and it was packed with notable record-setting results, including agent growth, revenues and other financial results.
In his letter to shareholders, Glenn Sanford, Founder and CEO of eXp World Holdings, said, “As we grow, we will continue to maintain a culture built around continuous innovation, personal development and enhancing the value proposition for our agents, which ultimately will drive long-term, sustainable value for stockholders.”
Benefits of a Publicly-traded Company
Having several levers of income is unheard of for real estate agents, but Sanford’s vision was to create an agent-centric company where agents were rewarded for their hard work and effort — not the brokerage. That’s why eXp offers a unique compensation model that offers a generous commission structure (80/20 split with an annual $16k cap), revenue share opportunities and stock options. Yes – eXp real estate agents are rewarded with multiple income streams so that if one stream is affected, another can kick in.
This is perhaps why agents are flocking to eXp in unprecedented numbers. In 2020, eXp agent growth increased 63% to 41,313, compared to 25,423 at year’s end in 2019. And already in 2021, agents number more than 55,000 — a 33% increase in just five months, which is unheard of whereas big box brokerages experience limited growth in single digits and perhaps even negative growth.
“At eXp, we aim to make the agent value proposition so good that it would be irresponsible for agents to be anywhere else,” said Dave Conord, President of U.S. Growth for eXp Realty. “As agents learn the truth about eXp, it becomes the obvious choice. Word is getting out — great agents are pouring into our eXp Family in record numbers!”
Read the summary of eXp’s accomplishments for 2020, plus operational performance and the 10-K are all here and worth sharing!