eXp Realty opens brokerage operations in the Dominican Republic
BELLINGHAM, Wash., Feb. 08 2022 (GLOBE NEWSWIRE) — eXp Realty®, the world’s fastest growing real estate brokerage and principal subsidiary of eXp World Holdings, Inc. (Nasdaq: EXPI), has expanded into the Dominican Republic. eXp Realty now operates in 19 countries with over 73,000 agents worldwide.
eXp’s real estate brokerage operations in the Dominican Republic will be led by Marbel Lugo, who brings over 20 years of experience in real estate investing, consulting and development. Lugo is a pioneer in the real estate industry in the Dominican Republic as a member of the board of directors of the Association of Realtors, an author and the first real estate coach in the country.
“As we continue to gain traction in the Caribbean and Latin American markets, we have received considerable interest from agents in the Dominican Republic and believe this is a perfect next step to expand our footprint” , said Michael Valdes, president of eXp Global, responsible for the global expansion of eXp Realty. “With a strong residential real estate market driven by tourism, easy international access and attractive incentives for foreign investment, the Dominican Republic is an ideal market to develop our growing brand.”
eXp Realty’s agile cloud-based work platform has allowed it to expand rapidly across the globe, opening 14 new markets in the past two years. The Dominican Republic represents the first of three markets eXp Global has identified for expansion in the first quarter of 2022. Greece and New Zealand are expected to open later in the quarter.
“eXp is transforming the real estate industry, and with new operations in the Dominican Republic, we will improve the lives and businesses of real estate agents by providing new tools and opportunities for growth,” said Lugo. “Together, we will bring the future of real estate to our agents in the Dominican Republic through eXp Realty’s unique model, while delivering faster, more efficient services to buyers and sellers.”
eXp Realty’s financial model for residential real estate agents offers an attractive commission structure, providing agents with the opportunity to earn additional income by helping to grow the company’s agent base globally and earn capital into the business through listing and sales 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 do business in the metaverse.
About eXp World Holdings, Inc.
eXp World Holdings, Inc. (Nasdaq: EXPI) is the holding company of eXp Realty®Virbela and SUCCESS® Companies.
eXp Realty is the world’s fastest growing real estate company with over 73,000 agents in the US, Canada, UK, Australia, South Africa, India, Mexico, Portugal, in France, Puerto Rico, Brazil, Italy, Hong Kong, Colombia, Spain, Israel, Panama, Germany and the Dominican Republic and continues to expand internationally. As a publicly traded company, eXp World Holdings offers real estate professionals the unique opportunity to earn equity rewards for production goals and contributions to overall company growth. eXp World Holdings and its businesses offer a full suite of real estate brokerage and technology solutions, including its innovative residential and commercial brokerage model, professional services, collaborative tools, and personal development. The cloud-based brokerage is powered by Virbela, a deeply social and collaborative immersive 3D platform, 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
Statements contained herein may include statements of future expectations and other forward-looking statements that are based on management’s current beliefs and assumptions and involve known and unknown risks and uncertainties that could cause actual results , performance or actual events differ materially from those expressed or implied. in such statements. These 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; expanding our residential real estate brokerage business in foreign markets; demand for remote work and learning solutions and virtual events; the 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 the forward-looking statements include changes in trading or other market conditions; the difficulty of keeping spending growth at modest levels while increasing revenues; and other risks detailed from time to time in the company’s filings with the Securities and Exchange Commission, including, but not limited to, the most recent quarterly report on Form 10-Q and annual report on Form 10-K.
Contact person for media relations:
eXp World Holdings, Inc.
Contact with Investor Relations:
MZ Group – MZ North America
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/a0493904-8a70-43c8-8d6c-8b8626448894