eXp Realty, the innovative cloud-based real estate brokerage, is one of the fastest-growing in the world. Having entered the local market in December 2020, the company now has a solid footprint in South Africa, and growing at pace with it’s global counterparts.
Headed up by successful property practitioner Andrew Thompson, eXp Realty South Africa has, in a few brief months, experienced an enthusiastic response from real estate agents, both new and experienced, across all nine South African provinces. “This effective, visionary real estate business model is creating a stir among South African real estate practitioners who are drawn to its future-proof, virtual operating platform, the highly attractive commission structure and equity based incentives,” comments Thompson.
Considered major disrupters of the real estate industry, the company’s agent commission structure not only includes a standard 75/25 split in favour of the agent, but the business model presents high-achievers with readily attainable opportunities to raise that bar. Agents are also afforded the prospect of participating in a unique revenue-sharing scheme and equity allocations in the parent company eXp World Holdings Inc’s Nasdaq-listed shares.
The support eXp Realty offers its team is substantial. Agents have access to thousands of hours of online training, seminars, webinars and interaction with a range of global professionals. There’s a strong sense of community at eXp, solidly backed by invaluable support. Confirmation that at eXp Realty, agents not only come first but feel prioritised, is that, for the fourth consecutive year, agents and employees named eXp Realty a best place to work in Glassdoor’s 2021 Employees’ Choice Awards among U.S. large businesses.
On a global scale, along with its record-breaking annual financial results the company reached a milestone of 50 000 registered property practitioners powering their brands and businesses by eXp Realty. This growth trajectory is a validation of eXp’s agent-centric value proposition, and South Africa is showing the self-same trend.
Now represented in 13 countries eXp Realty plans to launch in Colombia, Spain and Israel in the second quarter of 2021. With this growth juggernaut firmly in mind, Thompson is confident that eXp Realty South Africa will become one of South Africa’s top real estate businesses within the next two years. With its immersive 3D platform that is intuitive, social and collaborative, eXp Realty is enabling agents to be more connected, more productive and more profitable. “The agent-centric focus and dynamic business model is undoubtedly set to flip the property world on its head because,” Thompson concludes, “we’re obsessed about our agents.”