eXp World Holdings, Inc. (EXPI) Launches Real Estate Operations in Alaska

Earlier today, eXp World Holdings, Inc. (OTCQB: EXPI) announced the commencement of real estate brokerage operations in Alaska. Following this announcement, the company’s real estate brokerage division, eXp Realty, is now operational in 41 states across the country, as well as Alberta, Canada, and the District of Columbia. To date, the Agent-Owned Cloud Brokerage™ has attracted more than 1,500 of North America’s leading agents and brokers by leveraging an aggressive revenue sharing program and a host of collaborative tools made available through a unique, fully-immersive cloud training environment. The company’s brokerage operations in Alaska will be overseen by Brandon Tatum and Frank Zellers.

“Frank and I are excited to have the opportunity to bring eXp Realty to Alaska,” Tatum stated in this morning’s news release. “We’re looking forward to introducing the concept of agent-ownership and the idea that you can work alongside with and build relationships with some of the best agents in the business on a daily basis without having to go to a physical office or travel by plane or boat.”

News of the Alaska launch builds on what has already been an incredibly eventful week for EXPI. On Monday, the company released its second quarter financial results, reporting a 137 percent year-over-year increase in revenues to more than $13.2 million for the three-month period. This financial growth coincided with a 111 percent year-over-year increase in agent count for the company’s real estate division. Likewise, EXPI’s cash and cash equivalents at June 30, 2016, were up 207 percent from the second quarter of 2015. With a continued commitment to agent ownership, support and engagement, the company is strategically positioned to build on this impressive growth in the months to come.

The foundation for this growth has already been set through eXp Realty’s entry into new markets. Since the end of Q2, the company has already launched operations in both Utah and New Jersey, as well as Alaska. EXPI has also made moves to bolster its leadership team, adding industry veterans Rick Miller and Randall Miles to its board of directors on July 20. In the news release announcing these additions, Glenn Sanford, CEO of EXPI, referred to the move as “tremendous,” adding that the new board members “bring deep and diverse expertise” to EXPI and “give greater independence to its composition as the Company progresses.”

For more information, visit the company’s website at www.eXpWorldHoldings.com