eXp World Holdings Expands Real Estate Operations Into Puerto Rico

BELLINGHAM, Wash., Jan. 26, 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 Puerto Rico, under the eXp Puerto Rico banner. In addition to its robust U.S. presence, eXp Realty also operates in eight other countries, including Australia, Canada, France, India, Mexico, Portugal, South Africa and the United Kingdom, with more than 43,000 agents across the globe.

“The expansion into Puerto Rico represents our first strategic foothold in the Caribbean,” said Michael Valdes, President of eXp Global. “Puerto Rico is ideally positioned to benefit from the eXp model. Its tax incentives continue to attract a large number of foreign investments, creating a growing and robust real estate market in a territory that combines a rich culture and economic stability.”

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.  

eXp Puerto Rico’s operations will be led by Ivelisse Lopez, Broker of Record. Lopez brings more than 27 years of real estate leadership experience in Puerto Rico.

“Puerto Rico has a strong professional infrastructure for agents, and the addition of the eXp brand to the market represents an unrivaled opportunity. The technology and tools eXp Puerto Rico provides will empower agents to scale their business rapidly,” said Lopez.

eXp’s presence in Puerto Rico will encompass all major cities and regions. Puerto Rico represents the first global market that eXp Global has identified for expansion during the first quarter of 2021. Brazil, Italy, and Hong Kong are also set to launch in Q1 2021.

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 43,000 agents in the United States, Canada, the United Kingdom, Australia, South Africa, India, Mexico, Portugal and France 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

Puerto Rico Media Relations Contact:
Lymaris Otero
mediarelations@exppuertorico.pr 

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