ATLANTA, GA — (Marketwired) — 04/19/16 — MissionIR today announces the online availability of its interview with Glenn Sanford, CEO and founder of (OTCQB: EXPI), which, as previously announced, is changing its name to eXp World Holdings, Inc. to reflect its achievements and growth initiatives discussed in the interview. The interview can be heard at .
EXPI is the holding company for several businesses, including eXp Realty LLC, the Agent-Owned Cloud Brokerage, a full-service real estate brokerage utilizing a 3D, fully immersive, cloud office environment that provides around-the-clock access to collaborative tools, training, and socialization for real estate brokers and agents.
Sanford begins the interview with further insight into this structure, the company–s broader business strategy in the residential real estate space, and its growing presence in 35 U.S. states and two Canadian provinces.
Much of this growth is largely attributed to the company–s revenue sharing program and innovative virtual platform, which replaces the need for a traditional real estate office. By reducing its bricks and mortar footprint, EXPI is able to share its revenues with agents and brokers who contribute to corporate growth.
As of March 31, 2016, EXPI had grown its agent base to more than 1,100 members, representing 100% agent growth in a single year, along with correlating revenue and cash flow.
“Agents and brokers have a great split, because obviously we don–t have the overhead. But we also pass on the different initiatives – revenue share being one of them, and the other one being a stock ownership initiative … that–s really created a big catalyst for growth,” says Sanford.
Another stimulant for EXPI–s growth is a strong management team. Sanford first describes his extensive background as a long-time entrepreneur before describing the skills and experience of several other powerhouse members of the company–s leadership.
After recapping several of EXPI–s 2015 milestones, Sanford wraps up the interview by discussing the company–s goals for 2016.
“The biggest goal is just really to build infrastructure to support the growth … that–s a lot of people to assimilate in the organization and make part of the culture of the organization, and then all the tools and systems that need to be in place to support all of them,” he says. “If we keep on doing what we–re doing … we should easily end up in excess of 1,800, maybe 2,000 agents this year … if we hit those numbers then we really, in 2017, should be in the 3,500 agent range. If you work that into the revenue side of it … this year we should do in excess of $40 million in revenue … so we–re really excited about the growth.”
eXp World Holdings, Inc. is the holding company for a number of companies most notably eXp Realty LLC, the Agent-Owned Cloud Brokerage as a full-service real estate brokerage providing 24/7 access to collaborative tools, training, and socialization for real estate brokers and agents through its 3-D, fully-immersive, cloud office environment. eXp Realty, LLC and eXp Realty of Canada, Inc. also feature an aggressive revenue sharing program that pays agents a percentage of gross commission income earned by fellow real estate professionals who they attract into the Company.
eXp World Holdings, Inc. also owns 90.5% of First Cloud Mortgage, Inc. a Delaware corporation launched in 2015 and now licensed to originate mortgages in Arizona, California, New Mexico and Texas.
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This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. In evaluating such statements, prospective investors should review carefully various risks and uncertainties identified in this release and matters set in the company–s SEC filings. These risks and uncertainties could cause the company–s actual results to differ materially from those indicated in the forward-looking statements.
Jason Gesing
President
617-970-8518
Mission Investor Relations
Atlanta, Georgia
404-941-8975
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