eXp World Holdings Expands Real Estate Operations Into Brazil

One of the Fastest-growing Global Real Estate Companies Extends its Footprint Into South America, With the Opening of eXp 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.