Sanford stated that eXp’s personal operation in Egypt is being arrange along with an eXp agent who works within the U.S. however is initially from Egypt.
“These findings actually helped him validate the worth of an MLS together with his Center Jap counterparts,” Sanford stated of the info. “Internationally, issues are typically the place they had been within the U.S. 30 or 40 years in the past. It’s like actual property met the web with out the advantage of the MLS.”
In line with Sanford, this has resulted in a panorama that’s populated by disparate itemizing portals which might be all lobbying for promoting and promotions. They cost brokers a major sum of money for these, with little to little interest in the standard of the info they supply shoppers.
“So, what we’re seeing is, eXp is bringing type of a professionalizing affect, and we’re being acknowledged as the corporate bringing this new means of working to different elements of the world,” Sanford stated.
However whereas eXp and its executives could also be advocating for NAR’s Clear Cooperation Coverage (CCP) to stay in place, eXp Realty CEO Leo Pareja famous that if the U.S. housing market “goes backward in time 50 years” to a mannequin that depends on non-public itemizing networks, his agency — with its 80,000-plus brokers and transaction rely of greater than 400,000 in 2024 — is nicely positioned to succeed.
“We’ve got extra brokers and we do extra unit transactions than anyone else by an enormous margin. We’re, from a expertise stack, fully operational and might do that at scale,” Pareja stated on the earnings name.
“We want to function throughout the framework that exists right this moment as a result of we expect it’s the most effective factor for the patron, but when we return in time, we can have an unfair benefit on everyone.”
Wanting forward, eXp executives are hoping that their information and utilization of the North American MLS mannequin beneath CCP will proceed to gas worldwide development. In 2024, the corporate reported a 63% annual improve in worldwide income. The agency is now working in 24 international locations, with launches in Peru, Egypt and Türkiye coming on-line shortly.
“We wish to be in 60-plus international locations within the subsequent 5 years,” Sanford declared. “My purpose is to spend money on worldwide and get us to scale, in order that when we’ve these conversations 5 years from now, it is going to be the most important revenue driver for the nation, as a result of we’ll have greater than 50% of brokers on the worldwide facet of the home.”
However whereas development is the secret at eXp, executives are centered on bringing in and retaining productive brokers. Whereas the agency’s rely of 82,980 brokers on the finish of 2024 is spectacular, it’s down 5% yearly.
In line with Pareja, 90% of the home brokers who left the corporate recorded seven or fewer transactions up to now 12 months, with 50% of those brokers reporting no gross sales.
“We’ve actually centered on sustaining and attracting the very best productive people in addition to crew leaders,” Pareja stated. “So, to me, 2025 appears to be like like a win if our focus continues to be on productive brokers.”
Identified beforehand for its recruiting efforts and income share mannequin, Pareja stated he needs the brokerage to be generally known as the place “the place execs go to develop.”
“I actually describe the corporate as a platform that permits actual property entrepreneurs to construct no matter measurement dream they need,” Pareja stated. “Our focus is on operational excellence adopted with world-class expertise partnerships and actually persevering with to enhance the worth stack. So, in 2025, we’re simply going to double down and really improve our investments and what’s working for long-term development.”
However whereas eXp executives had been happy with the expansion of their firm, which recorded a 7% annual improve in income to $4.6 billion in 2024, eXp nonetheless failed to show a revenue.
The corporate misplaced $21.3 million final 12 months, greater than double its $9.5 million web loss in 2023. Moreover, the amount of money and money equivalents the corporate has available additionally dropped from $125.9 million to $113.6 million in the course of the 12 months.
However eXp executives aren’t fazed by this information.
“On the worldwide facet, we’re undoubtedly centered on opening up extra international locations, and that does add extra price elements to the general combine, however that has offsetting advantages — two or three years out of revenues after which attending to scale,” Sanford stated.
“Now, eXp North America is the driving engine that’s permitting us to increase world wide, and it’s the revenue heart for our firm proper now.”