Sanford mentioned that eXp’s personal operation in Egypt is being arrange together 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 along with his Center Japanese counterparts,” Sanford mentioned of the information. “Internationally, issues are usually the place they have been within the U.S. 30 or 40 years in the past. It’s like actual property met the web with out the good thing about the MLS.”

In accordance with Sanford, this has resulted in a panorama that’s populated by disparate itemizing portals which can be all lobbying for promoting and promotions. They cost brokers a big sum of money for these, with little to little interest in the standard of the information they supply customers. 

“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 approach of working to different elements of the world,” Sanford mentioned. 

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 extra brokers and we do extra unit transactions than anyone else by an enormous margin. We’re, from a know-how stack, fully operational and may do that at scale,” Pareja mentioned on the earnings name.

“We want to function throughout the framework that exists immediately as a result of we predict it’s the most effective factor for the buyer, but when we return in time, we could have an unfair benefit on everyone.” 

Trying forward, eXp executives are hoping that their information and utilization of the North American MLS mannequin below CCP will proceed to gas worldwide progress. In 2024, the corporate reported a 63% annual improve in worldwide income. The agency is now working in 24 nations, with launches in Peru, Egypt and Türkiye coming on-line shortly. 

“We wish to be in 60-plus nations within the subsequent 5 years,” Sanford declared. “My aim is to spend money on worldwide and get us to scale, in order that when we have now these conversations 5 years from now, it is going to be the biggest 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 progress is the secret at eXp, executives are targeted 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 accordance 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 targeted on sustaining and attracting the very best productive people in addition to crew leaders,” Pareja mentioned. “So, to me, 2025 seems like a win if our focus continues to be on productive brokers.”

Recognized beforehand for its recruiting efforts and income share mannequin, Pareja mentioned he desires the brokerage to be generally known as the place “the place professionals 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 mentioned. “Our focus is on operational excellence adopted with world-class know-how 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 progress.”

However whereas eXp executives have 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 readily 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 targeted on opening up extra nations, and that does add further value elements to the general combine, however that has offsetting advantages — two or three years out of revenues after which attending to scale,” Sanford mentioned.

“Now, eXp North America is the driving engine that’s permitting us to broaden all over the world, and it’s the revenue middle for our firm proper now.”