eXp World Holdings, Inc. (eXp) owns and oversees a diversified portfolio of service-oriented businesses. These businesses significantly benefit from the integration of the company’s advanced enabling technology platform.
The company’s strategic focus is on expanding its real estate brokerage operations. To achieve this, the company emphasizes enhancing the value proposition for its agents, investing in the development of immersive, cloud-based technological solutions, and offering affiliate and...
eXp World Holdings, Inc. (eXp) owns and oversees a diversified portfolio of service-oriented businesses. These businesses significantly benefit from the integration of the company’s advanced enabling technology platform.
The company’s strategic focus is on expanding its real estate brokerage operations. To achieve this, the company emphasizes enhancing the value proposition for its agents, investing in the development of immersive, cloud-based technological solutions, and offering affiliate and media services that bolster these efforts.
The following are developments in the company’s business since the beginning of the fiscal year ended December 31, 2024:
The company announced various new agent incentive programs to enhance the agent experience and to attract culturally aligned agents, teams of agents and independent brokerages to the company. New incentive programs include the ICON Incentive Program, Revenue Share Capping Incentive Program, and REVenue Share 2.0, which offer unique financial incentives.
The company launched various new platforms and services to support the development and success of its agents, brokers and customers, including the launch of eXp Elevate Coaching, Global Agent Referral Platform, eXp Commercial Groups, new on-demand eXp University courses, including the Fast Cap Training Program and Fast Start Series, and affiliate relationships with Sisu and Canva. In 2024, the company acquired the assets of LUXVT to enhance its eXp Luxury agent program, which experienced continued growth throughout the year.
The company announced expansion into Türkiye, Peru and Egypt, expected to be launched in 2025.
Business Segments
The company operates through three segments which are North American Realty, International Realty and Other Affiliated Services.
North American Realty and International Realty
Both the North American Realty segment and the International Realty segment generate revenue primarily by serving as a licensed broker for the purpose of processing residential and commercial real estate transactions, from which the company earns commissions. The company in turn pays a portion of the commissions earned to the real estate agents and brokers. eXp offers an innovative cloud-based brokerage model. The model features low entry fees, stock ownership opportunities for agents and brokers and a revenue-sharing plan through which agents and brokers can earn commission from transactions conducted by agents and brokers they have attracted to eXp. The company’s North American Realty segment also includes lead-generation and other real estate support services in North America and Canada.
International Realty segment includes the company’s foreign operations in the United Kingdom (the U.K.), Australia, South Africa, India, Mexico, Portugal, France, Puerto Rico, Brazil, Italy, Hong Kong, Colombia, Spain, Israel, Panama, Germany, the Dominican Republic, Greece, New Zealand, Chile, Poland, and Dubai.
Other Affiliated Services
The company’s Other Affiliated Services segment includes key assets, such as FrameVR.io, its web-accessible proprietary technology offering immersive 3D platforms that are deeply social and collaborative, and SUCCESS magazine and its related media properties, which provide training, classes, resources, and tools to empower the company’s agents, brokers, staff, and general customers to excel and empower their professional development. This segment also includes SUCCESS Space, a coworking solution offering highly flexible, on-demand rental workspaces for individual and group use, access to professional development coaching, media production services, virtual-world communications technology and full-service cafes.
Markets and Customers
Real Estate Brokerage: The company’s clients are primarily residential homeowners and homebuyers in the markets in which it operates as serviced by its global network of independent agents and brokers. These customers are sellers or purchasers of new or existing homes and engage the company to aid in the facilitation of the closing of the real estate transaction, including but not limited to, searching, listing, application processing and other pre- and post-close support. The company’s experienced agents and brokers are well suited to support its customers’ needs with a high level of professionalism, knowledge and support as they endeavor on one of the largest lifetime purchases they will most likely undertake.
The company’s North American Realty segment consists of operations in the U.S. and Canadian residential real estate markets. Through its network of independent agents and brokers, the company has brokerages in all 50 states in the U.S. residential real estate market and residential real estate markets in all of the Canadian provinces. The company’s North American Realty segment represented 98.1% of total consolidated revenues in 2024.
The company’s International Realty segment operates in the U.K., Australia, South Africa, India, Mexico, Portugal, France, Puerto Rico, Brazil, Italy, Hong Kong, Colombia, Spain, Israel, Panama, Germany, the Dominican Republic, Greece, New Zealand, Chile, Poland, and Dubai. The company’s International Realty segment represented 1.9% of total consolidated revenues in 2024.
Other Affiliated Services: The company provides affiliated services to its agents, brokers and customers that support their professional efforts and personal betterment. The company’s cloud-based brokerage is powered by FrameVR.io technology, offering immersive 3D platforms that are deeply social and collaborative, enabling agents to be more connected and productive. Under its ownership, the company has also built upon SUCCESS magazine and its related media properties to develop a robust SUCCESS brand of innovative personal and professional development tools.
Intellectual Property
eXp Realty is one of the company’s registered trademarks in the United States, among other registered and nonregistered trademarks. The company also owns the rights to key domain names used by its domestic and international brokerages including, for example, https://exprealty.com and https://exprealty.ca. Additionally, the company owns registered trademarks and the rights to domain names, which are leveraged in its other business segments and in connection with services that complement its real estate brokerage, such as the SUCCESS registered trademark and https://success.com.
Seasonality of Business
Seasons and weather traditionally impact the real estate industry in the markets in which the company operates. Spring and summer seasons historically reflect greater sales periods and, in turn, higher revenues and operating results in comparison to fall and winter seasons. The company has historically experienced higher revenue during the second and third quarters of its fiscal year due in part to seasonal industry patterns. By contrast, the company’s Other Affiliated Services segment experiences generally consistent revenue during the year, with some increased adoption around the company’s eXpcon events held throughout the year (year ended December 31, 2024).
Government Regulation
In the U.S., the company is required to comply with the Gramm-Leach-Bliley Act, which governs the disclosure and safeguarding of consumer financial information, as well as state statutes governing privacy and cybersecurity matters like the California Consumer Privacy Act (CCPA). California further strengthened privacy regulations with the California Privacy Rights Act (CPRA) in 2020, effective January 1, 2023, introducing more stringent requirements and creating a dedicated enforcement agency. Other states have enacted or are considering their own privacy laws. Internationally, the European Union's General Data Protection Regulation (GDPR) grants extensive privacy rights and enforces strict penalties for non-compliance.
The company’s business is subject to various antitrust and competition laws, including the Sherman Antitrust Act, the Federal Trade Commission Act, the Clayton Act, and other related federal, state, and provincial laws in the jurisdictions in which it operates.
History
The company was founded in 2008. The company was incorporated in 2008. It was formerly known as eXp Realty International Corporation and changed its name to eXp World Holdings, Inc. in 2016.