Earlier today, eXp World Holdings, Inc. (OTCQB: EXPI) announced the addition of industry veteran Russ Cofano to its management team. Cofano will serve as EXPI’s chief strategy officer and general counsel moving forward.
“I have been looking for ‘the next great opportunity’ within the industry, and I’m certain that I’ve found that opportunity at eXp,” Cofano stated in this morning’s news release. “Unlike other new entrants, eXp is redefining the brokerage model of the future from within. Glenn Sanford has assembled a fantastic team and I’m excited to join them and use my various industry experiences to help the company chart its course of success.”
In total, Cofano brings more than 25 years of industry experience to the EXPI team. In recent years, he has served as senior vice president of industry relations for MOVE, Inc., operator of a network of real estate websites that attracts more than 30 million monthly visitors, including REALTOR.com®. Cofano’s duties in this role included developing strategy and business relationships with leading organizations within the real estate industry, as well as multiple listing services (MLS) and technology firms. In addition to his work with MOVE, Inc., Cofano has also served as chief executive officer of the Missouri REALTORS®, the largest trade association in the state of Missouri, and as vice president and general counsel for John L. Scott Real Estate, which was consistently ranked among the largest real estate brokerages in the country.
“Russ brings a wealth of experience and industry knowledge to the Company from multiple perspectives,” Glenn Sanford, founder and chief executive officer of EXPI, added in the news release. “We’re fortunate to be able to add Russ to our team and believe he will have an immediate and lasting impact on the Company as we continue to grow.”
EXPI has continued to build on its success in expanding the reach of its Agent-Owned Cloud Brokerage™ in recent weeks. In mid-July, the company launched eXp Realty in New Jersey, bringing its total national presence to 43 states and the District of Columbia. eXp Realty is also operational in Alberta, Canada. Additionally, the company is now listed in more than 105 unique MLS, and its network includes more than 1,400 real estate professionals, an increase of 62 percent from the beginning of 2016.
This nationwide growth is particularly intriguing when studying EXPI’s most recent financial results. In the first quarter of 2016, the company recorded revenues of $7.1 million, an increase of 107 percent from the previous year. This total correlated with a 106 percent year-over-year increase in agent count in its real estate division.
For more information, visit the company’s website at http://investors.exprealty.com
