eXp Realty Opens Brokerage Operations in New Zealand

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Jun 18, 2022

BELLINGHAM, Wash., May 09, 2022 (GLOBE NEWSWIRE) -- eXp Realty®, the fastest-growing global real estate brokerage and the core subsidiary of eXp World Holdings, Inc. ( EXPI), has expanded into New Zealand. eXp Realty now operates in 21 markets with more than 80,000 agents around the world.

“Our launch in New Zealand further strengthens eXp’s position in the Asia Pacific region by complementing our existing operations in Australia, India and Hong Kong,” said Michael Valdes, President of eXp Global. “Drawing benefits from its close ties to Australia, the New Zealand economy boasts a property market with healthy demand and a tech-focused culture that is highly adaptive to industry advancements. We are excited to empower agents in New Zealand by enabling their success with our unique model.”

eXp’s real estate brokerage operations in New Zealand will be led by Maria Stephens, who brings more than a dozen years of experience in the market. Stephens has worked both as an agent and in senior branch management, and takes pride in giving back to her community.

“As a company built by agents, for agents, eXp’s unique value proposition will drive an important evolution for real estate in New Zealand,” says Stephens. “With a highly competitive model, eXp offers our real estate community the opportunity to be part of a global powerhouse, with innovative tools, training and the freedom to effectively build a team and business.”

eXp Realty’s agile cloud-based work platform has allowed it to expand rapidly across the globe. New Zealand marks the third market to open in 2022, following the Dominican Republic and Greece earlier this year.

eXp Realty’s financial model for residential and commercial real estate agents offers an attractive commission structure, including a revenue share model, which attracts top agents across the globe. Additionally, agents earn equity in the company through listing and selling activities. eXp Realty’s cloud-based brokerage is powered by Virbela, the company’s immersive and collaborative virtual platform, which enables its agents to communicate, meet and conduct business in its metaverse, eXp World.

About eXp World Holdings, Inc.

eXp World Holdings, Inc. ( EXPI) is the holding company for eXp Realty®, Virbela and SUCCESS® Enterprises.

eXp Realty is the fastest-growing real estate company in the world with more than 80,000 agents in the United States, Canada, the United Kingdom, Australia, South Africa, India, Mexico, Portugal, France, Puerto Rico, Brazil, Italy, Hong Kong, Colombia, Spain, Israel, Panama, Germany, the Dominican Republic, Greece and New Zealand and continues to scale internationally. As a publicly traded company, eXp World Holdings provides real estate professionals the unique opportunity to earn equity awards for production goals and contributions to overall company growth. eXp World Holdings and its businesses offer a full suite of brokerage and real estate tech solutions, including its innovative residential and commercial brokerage model, professional services, collaborative tools and personal development. The cloud-based brokerage is powered by Virbela, an immersive 3D platform that is deeply social and collaborative, enabling agents to be more connected and productive. SUCCESS Enterprises, anchored by SUCCESS magazine and its related media properties, was established in 1897 and is a leading personal and professional development brand and publication.

For more information, visit https://expworldholdings.com.

Safe Harbor Statement

The statements contained herein may include statements of future expectations and other forward-looking statements that are based on management’s current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. Such forward-looking statements speak only as of the date hereof, and the company undertakes no obligation to revise or update them. These statements include, but are not limited to, statements about the continued growth of our agent and broker base; expansion of our residential real estate brokerage business into foreign markets; demand for remote working and distance learning solutions and virtual events; development of our commercial brokerage and our ability to attract commercial real estate brokers; and revenue growth and financial performance. Such statements are not guarantees of future performance. Important factors that may cause actual results to differ materially and adversely from those expressed in forward-looking statements include changes in business or other market conditions; the difficulty of keeping expense growth at modest levels while increasing revenues; and other risks detailed from time to time in the company’s Securities and Exchange Commission filings, including but not limited to the most recently filed Quarterly Report on Form 10-Q and Annual Report on Form 10-K.

Media Relations Contact:

eXp World Holdings, Inc.

[email protected]

Investor Relations Contact:

MZ Group – MZ North America

[email protected]

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/6f18f2f6-4d3e-4b01-b09c-73ffe45f608d