The latest on eXp

Watch the conversation as Leo Pareja explains how to be a “brilliant leader” and shares other strategies younger agents can adopt to fast-track their career.

CEO Leo Pareja said it was “a great indication” that eXp’s recruiting and retention strategies are working. Revenue was up slightly in Q2 as losses improved.

A Missouri court said discovery can continue in the commissions lawsuit even though a Georgia judge granted preliminary approval of deals in a related case.

After months of sparring between attorneys in the Hooper and Gibson commissions lawsuits, a Georgia judge has allowed the deals to move forward.

Now that Leo Pareja holds “the keys to the battleship,” he wants to drive massive growth, and he thinks the brokerage of the future will look a lot like eXp.

The brokerage’s international division doubled its revenue this quarter, and the company is investing heavily in tech and AI: “These are not short-term bets.”

The Co-Sponsor Program “is about honoring how real influence and support work in our industry,” said CEO Leo Pareja. Plus, a promotion and 2 new faces at eXp.

“As a leader, you have to draw a line,” Leo Pareja said of his opposition to the trend, adding that agents who push sellers to list off-MLS could face lawsuits.

“Anytime we limit access, it limits opportunities,” an eXp exec said during a livestream highlighting ethical issues with the push into private inventory.

The company suffered losses due to its payout in the commissions settlement, but touted agent productivity, international growth and positive revenue.

eXp showed growth in revenue and transactions as execs pitched the company’s value prop ahead of August 17 rules changes mandated by the NAR settlement.

During an earnings call, Glenn Sanford said he wants to help agents “in the middle,” while noting that revenue was up and touching on the commissions lawsuits.

The company said its "decision to offboard a significant number of unproductive agents" in Q4 was offset by "excellent" retention of strong producers.

CEO Glenn Sanford acknowledged the challenging market, but said eXp has increased market share and added agents even as revenue remains flat.

The company reported a net income of $9.4 million, slightly below expectations, while its agent count grew by 7%.

The cloud-based brokerage reported declines in revenue and transactions, but ended the quarter in the black and boosted agent count.

The Washington-based real estate giant missed revenue estimates in Q4 but increased agent count to more than 86,000.