eXp Realty now exceeds 50,000 agents throughout the world and that is no small feat.
While other national, big-box brokerages are facing a slowdown in adding agents to their roster — sometimes even losing agents — eXp Realty continues to gather steam with impressive double-digit agent growth year-over-year. eXp finished 2020 with 41,313 agents, a 63% increase compared to 25,423 at the end of 2019. And now, three months into 2021, eXp tripped the magic number of 50,000 agents globally
“With nearly 16,000 amazing agents joining us last year, eXp continues to accelerate growth with January and February 2021 already more than 240% higher net agent gain than 2020 and we’re setting growth records month after month,” said Dave Conord, President of U.S. Growth.
eXp Returned Record Results in Q4 and Year-ending 2020
All of this comes against the headwinds of a global pandemic, in which eXp has not only held steady, but returned record results during Q4 and all of 2020. Take a look:
- Record revenue in Q4, 2020: Revenue increased 122%, going from $274 million in Q4 of 2019 to $609 million in Q4 2020.
- Record annual revenue: Revenue for all of 2020 increased 84% year-over-over to $1.8 billion as compared to $980 million in 2019.
- Record Q4 net income: Income increased 885% to approximately $7.7 million, compared to net income of $0.8 million in the same year-ago quarter.
- Record annual income: Net income in 2020 increased to $31.0 million, compared to a net loss of $9.6 million in 2019.
- Record Q4 transaction sides: Residential transaction sides closed in the fourth quarter of 2020 increased 113% to 82,055, compared to 38,611 in the same year-ago quarter.
- Record annual transaction sides: Residential transaction sides closed in 2020 increased 77% to 238,981, compared to 135,322 in 2019.
- Record Q4 transaction volume: Residential volume in the fourth quarter of 2020 increased 123% to $24.6 billion, compared to $11.0 billion in the same year-ago quarter.
- Record annual volume: Residential transaction volume closed in 2020 increased 89% to $72.2 billion, compared to $38.2 billion in 2019.
eXp Will Be Operating in 16 Countries By End of Q2
eXp’s geographic and business growth also continues to advance.
In addition to its headquarters in the United States, the brokerage will have an international presence in 15 countries by the end of Q2. Currently, eXp operates in 11 countries outside of the U.S., including Canada, the United Kingdom, Australia, South Africa, India, Mexico, Portugal, France, Puerto Rico, Brazil, Italy and Hong Kong. Colombia, Spain and Israel will be added by end of Q2 2021.
eXp also launched eXp Commercial last year, where plans call for commercial operations in all 50 states by the end of the year. eXp’s Commercial platform offers agents the same attractive generous commission and capping model, a revenue-share program and stock option opportunities.
Additionally in 2020, eXp World Holdings, the parent company of eXp Realty, made two purchases to help with future growth and business opportunities: It purchased Showcase IDX, which is a real estate search platform popular with consumers and real estate agents and it also acquired SUCCESS Enterprises, a personal development media company.
Agents Continue to Attract Other Agents
A big reason for eXp’s spectacular growth is eXp’s amazing agents, who are collaborative and driving the increasingly rapid growth through their enthusiasm for all that eXp offers such as:
- Commission structure: eXp has a generous financial model, which includes an attractive commission structure (80/20 split with a $16,000 cap. After capping, it’s 100% commission).
- Revenue share program: eXp offers a revenue share program, which is far superior to a profit share program.
- Stock awards: eXp agents can earn stock in a variety of ways.
- Technology platform: eXp’s innovative cloud-based technology allows agents and staff to work from anywhere. But most importantly, eXp’s online world is highly collaborative where agents share leads and best practices with other agents.
> Read why eXp is better than an independent brokerage
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