eXp World Holdings Expands Real Estate Operations Into Brazil

BELLINGHAM, Wash., Feb. 23, 2021 (GLOBE NEWSWIRE) -- eXp World Holdings, Inc. (Nasdaq: EXPI), the holding company for eXp Realty, one of the fastest-growing real estate companies in the world, has expanded into Brazil, under the eXp Brazil banner. In addition to its robust U.S. presence, eXp Realty also operates in nine other countries, including Australia, Canada, France, India, Mexico, Portugal, Puerto Rico, South Africa and the United Kingdom, with more than 46,000 agents across the globe.

eXp Realty’s worldwide expansion is being led by Michael Valdes, President of eXp Global, an international real estate veteran with experience opening markets around the world.

“Our expansion into Brazil marks a milestone moment in the growth of eXp, as eXp’s global footprint now extends to six continents” said Valdes. “Brazil boasts the eighth largest economy in the world by purchasing power, with 213 million people and a thriving real estate market that lends well to the eXp model. We are well positioned to scale eXp Brazil during the country’s economic resurgence.”

eXp Brazil’s brokerage operations will be led by Ernani Assis, Managing Director and Broker. Assis brings more than 15 years of experience in the Brazilian real estate market.

“eXp Brazil arrives in a moment of recovery for the real estate market in the country, with favorable forecasts and programmed growth,” says Assis. “At eXp, we invest in our agents’ success. We believe that empowering agents with world-class training, remote flexibility and back-office support creates a superior experience for our consumers. We are excited to introduce a new way of working in real estate and an innovative form of remuneration to position agents serving the Brazilian market to achieve high levels of success.”

eXp’s presence in Brazil will encompass all major cities and regions, with an initial focus on Sao Paulo, Rio de Janeiro, and Minas Gerais. Brazil represents one of the countries that eXp Global has identified for expansion during the first quarter of 2021. Puerto Rico launched in January, and Italy and Hong Kong are also set to launch in Q1 2021.

eXp Realty offers a unique financial model for residential and commercial real estate agents, going beyond attractive commissions to provide its agents with an opportunity to earn additional income by helping the company to grow its revenue base anywhere in the world. Agents can also earn equity in eXp World Holdings stock for listing and selling activities. eXp’s cloud-based brokerage is powered by Virbela, the company’s immersive and collaborative platform, enabling agents and staff to communicate, meet and conduct business in a virtual world.  

About eXp World Holdings, Inc.

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

eXp World Holdings and its global brokerage, eXp Realty, is one of the fastest-growing real estate tech companies in the world with more than 46,000 agents in the United States, Australia, Canada, France, India, Mexico, Portugal, Puerto Rico, South Africa and the United Kingdom, 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 an immersive 3D platform that is deeply social and collaborative, enabling agents to be more connected and productive.

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 economic and social effects of the COVID-19 pandemic; 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 new 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.
Mediarelations@expworldholdings.com

Brazil Media Relations Contact:
NR-7 Comunicação
mediarelations@expglobalbrasil.br
expbrazil@nr-7comunicacao.com.br  

Investor Relations Contact:
MZ Group – MZ North America
Investors@expworldholdings.com