Brokerage lowers FLQA threshold for first time in company history
BELLINGHAM, Wash., June 30, 2023 (GLOBE NEWSWIRE) — eXp Realty®, “the most agent-centric real estate brokerage on the planet™” and the core subsidiary of eXp World Holdings, Inc. (Nasdaq: EXPI), today announced that for the first time, it is refining revenue share criteria for its agents.
eXp Realty is reducing its current Frontline Qualifying Agent (FLQA) tier 7 threshold from 40 to 30 FLQA. Revenue share is one part of eXp Realty’s aligned compensation model, which also includes competitive commissions and stock equity programs designed to enable its agents to build for their future.
“At a time when other companies are increasing their rev share thresholds or imposing new fees, eXp Realty is the only brokerage lowering revenue share criteria for agents, fueling exponential opportunities for them to build their legacies,” said Glenn Sanford, founder and CEO of eXp Realty. “Revenue share is an important income opportunity for agents, so this change is a testament to the singular agent-centric focus we were built on. We believe in our aligned compensation model, which was created to reward agents for both production and contributions to eXp Realty’s growth.”
About eXp World Holdings, Inc.
eXp World Holdings, Inc. (Nasdaq: EXPI) is the holding company for eXp Realty®, Virbela and SUCCESS® Enterprises.
eXp Realty is the largest independent real estate company in the world with more than 88,000 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, Dominican Republic, Greece, New Zealand, Chile, Poland and Dubai 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. 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.
Investor Relations Contact:
Denise Garcia, Managing Partner
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/00021513-2b3e-4d63-985f-87bc748d9bf4