eXp World Holdings Expands Real Estate Operations Into India

EXp World Holdings (Nasdaq: EXPI), the holding company of eXp Realty, one of the world's fastest growing residential and commercial real estate companies, announced today that it has expanded its cloud-based cooperative real estate brokerage model. to India, under the banner of eXp India. The addition of residential and commercial brokerage operations in India marks the fifth international expansion for the US-based company. In addition to its strong presence in the US, EXp Realty also operates in Canada, the UK, Australia and South Africa, with more than 38,000 agents worldwide.

EXp Realty offers a unique financial model for residential and commercial real estate agents that goes beyond attractive commissions to provide its agents with income sharing and equity participation opportunities. The partnership model also provides proprietary marketing resources, including the company's cloud-based virtual environment and a customized technology platform that leverages virtual prospecting, sales, training, and agent communications.

We are excited to bring our innovative and proven model to India. "Given its pool of more than 1 million agents, India is one of the most dynamic real estate markets in the world and is fully poised to benefit from our agent-centric model," said Michael Valdes, director of eXp Global. `` Before the official launch, we had already received a tremendous response after officially establishing operations and our initial marketing efforts. In addition to increasing the revenue opportunities that the model provides to agents in India, our focus will be on providing access to cloud-based brokerage and virtualization technology to help provide valuable marketing resources and position our agents for the future of the real estate. 

"India has never seen a model like this before, which I think will change the traditional landscape of the industry," said Shashank Vashishtha, India's designated management broker. "EXp India is going to be an agent of change for both consumers and agents."

Similar to the US model, EXp Realty and the Global Division anticipates a similar path for the real estate industry in India to use a model that not only provides generous commissions but also incentivizes agents to attract other agents through eXp's multi-level compensation model.

"Our decision to expand into the growing Indian market is a direct result of the strong growth we have seen in the US and other high-value international locations," said Jeff Whiteside, chief financial officer, and chief cooperation officer, eXp World Holdings. “Over the past five years, we have grown our revenue at a compound annual growth rate of more than 100% and recently posted record financial results and profitability in the third quarter of 2020. We expect this momentum to continue expanding our incentives. to model markets that are capable of achieving success, we have achieved. At the national level, we believe that India is demonstrating this opportunity. "

The company's presence in India will have a national presence, including major cities and states. India is one of the five countries that eXp Global has identified to expand by the end of 2020. South Africa launched in October 2020 and the remaining countries include France, Mexico, and Portugal.

About eXp World Holdings, Inc.

eXp Realty, The Real Estate Cloud Brokerage, is one of the fastest-growing residential real estate companies in the world with more than 38,000 agents in the US, Canada, UK, Australia and South Africa. As a subsidiary of a publicly traded company, eXp Realty uniquely offers real estate professionals within its ranks opportunities to earn shares in eXp World Holdings Productions and contribute to the overall growth of the company.

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