Hello, Portugal, eXp Realty is here.
Portugal becomes the second European country where eXp Realty has planted a flag to conduct brokerage operations, with the United Kingdom being the first. But in terms of international growth, Portugal is the seventh country outside of the United States where eXp has announced expansion plans by year-end. (Read the press release here.)
eXp Realty, which is headquartered in the United States and currently numbers 60,000 agents worldwide, also operates residential and commercial brokerage services in the United Kingdom, Canada, Australia, South Africa, India and Mexico. France is planned to open in December 2020.
Portugal has quietly existed in the shadow of its glitzier European neighbor to the east, Spain, but real estate investors and foreign buyers see huge opportunities in the country due to its lower cost of living — relative to its European counterparts — and tax benefits and real estate incentives.
“We are thrilled to introduce eXp to continental Europe through our expansion into Portugal. The country’s golden visa program and tax abatements to attract foreign investment are ideally positioned for success with the eXp model,” said Michael Valdes, President of eXp Global. “In addition to increased revenue opportunities for agents, our virtual technology and valuable marketing resources give agents an enviable advantage and positions them well for the future of real estate.”
As is the case for many of the other countries where eXp operates, real estate agents in Portugal can take advantage of eXp’s generous commission structure and in addition, its unique revenue share program and the ability to earn stock (Nasdaq: EXPI).
Agents in Portugal will also have access to eXp’s innovative technology and brokerage-in-the-cloud model, which is fully supported by staff, marketing resources, training and collaboration.
Guilherme Grossman, who has more than a decade of real estate experience in Portugal, has been named Designated Managing Broker for eXp Portugal.
“It is with great satisfaction that we announce the arrival of eXp in Portugal. We are confident that our business model will be an asset not only for the agent community, but also for consumers who will experience a new way of doing business,” said Grossman. “Innovation is a key driver of eXp’s success, and we’re confident that eXp Portugal will contribute to and revolutionize the way real estate operates in the country.”
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