Things are looking good for eXp World Holdings, Inc. (OTCQB: EXPI). Spearheaded by its unique real estate brokerage division, eXp Realty, the company has been reporting steady growth over the past few months and is showing no signs of slowing down. August in particular seems to have been an exceptional month for the company, as it reported record revenue in the first two quarters and an impressive increase in its brokerage agent base, surpassing the 1,500 agent milestone for the first time.
The growth didn’t stop there; eXp Realty management recently announced that its Agent-Owned Cloud Brokerage™ welcomed 160 new members in August, bringing its total number of agents to over 1,630, eXp Realty director of Cloud Leadership & Growth David Gagnon said during an online leadership meeting of the brokerage on August 26.
Along with its agent base increase, the brokerage has been steadily expanding its coverage and now serves a total of 41 states, the District of Columbia and Alberta, Canada. The newest addition to its network of real estate professionals is Alaska, where operations began on August 19.
eXp World Holdings’ steady growth and record revenue of more than $13 million in the second quarter of 2016 have also prompted the Fundamental Research Corp. to update its analysis of the company. The independent research group that specializes in the microcap and small-cap sectors highlighted eXp World Holdings’ strong financial performance and growth and now anticipates a higher overall revenue for both 2016 and 2017. Compared to its April report, the group upped its forecast for 2016 to $48 million from $40 million and for 2017, for $82 million from $72 million.
The company largely owes its success and record figures to the innovative model of real estate brokerage proposed by eXp Realty. Unlike most competitors that still concentrate their activity around a brick and mortar office, eXp Realty describes itself as a brokerage that heavily relies on cloud technologies and the Internet to build an online community of real estate professionals.
Members work in a cloud office environment which allows them round-the-clock access to training features, collaborative tools and socialization methods to help them share their knowledge and experience and build an efficient strategy together. Even leadership meetings are held online in a virtual reality space where each attending management member has an avatar.
The platform allows agents and brokers to provide more efficient services to consumers and increase their profits with a lower risk. Members also benefit from revenue sharing programs and the opportunity of earning equity in exchange for valued contributions to company growth.
For more information about eXp World Holdings and its brokerage division, visit www.eXpWorldHoldings.com.