EXp World Holdings revenue increased 1 percent year over year to $1.3 billion, according to a second-quarter earnings release on Thursday.
Alongside single-digit revenue growth, the virtual brokerage pioneer saw other key metrics fall during the quarter. The company reported a $2.3 million net loss, compared to an $11.7 million net income in 2024. EXp’s cash and cash equivalents declined 12 percent year over year to $94.6 million, due to the company’s $17 million payment toward its $34 million antitrust settlement connected to Hooper v. the National Association of Realtors.
EXp’s agent count fell 5 percent year over year to 82,704, while real estate sales transactions fell 2 percent year over year to 118,612. Although transactions fell during the quarter, real estate sales volume still ticked up by 1 percent to $52.5 billion.
Leo Pareja
Despite a decline in several key metrics, eXp World Holdings founder, Chairman and CEO Glenn Sanford, and eXp Realty CEO Leo Pareja were energetic in their prepared statements, saying that the company’s focus on bolstering its tech, training, and education was paying off with a more experienced workforce of agents coming to eXp.
“EXp was built by agents, for agents, and that foundation continues to fuel our momentum,” Pareja said in a prepared statement. “Our continued investments in the agent value stack and ongoing programs like the co-sponsor initiative are resonating with the best agents and teams in the industry.”
“By putting innovation and agent opportunity at the core of everything we do, we’re not only attracting the most productive agents in the industry; we’re shaping a more transparent, competitive and agent-empowered future for real estate,” he added.
Meanwhile, Sanford focused on eXp Realty’s growing international footprint, with the brokerage’s global arm recently adding Peru, Türkiye, Ecuador and Japan to its roster.
“Our international business continues to grow rapidly, with robust agent productivity and expanding global reach that validate our platform’s scalability and universal appeal,” he said in a written statement.
Glenn Sanford
Sanford also highlighted eXp World Holding’s SUCCESS segment, which houses the company’s coaching, training and media operations. With eXp Global running at full speed, he said, it’s time to expand SUCCESS’ reach.
“Having been deeply involved in guiding our international strategy, I’m now turning my attention to SUCCESS Enterprises with the same focus and determination,” he said. “As publisher and managing director, I plan to focus on curating experiences in SUCCESS+ with the goal of expanding the brand overall. Just as we’ve built a thriving business across borders, I’m confident we can unlock new potential within SUCCESS and reinvigorate it as a core driver of value for our agents and shareholders alike.
In the eXp World Holdings earnings call Thursday afternoon, company leaders went deeper into the company’s strategy and outlook, which is primarily centered around recruiting and retaining more experienced agents and teams.
Pareja said eXp’s agent count decline is mainly attributable to underproducing agents who decided to leave the industry (57 percent). As for those who remain, the CEO said production and retention numbers have improved, with the number of ICON agents, the title for those who have met production requirements during each capping period, increasing 9 percent year over year. Meanwhile, agent retention increased 22 percent year over year.
Wendy Forsythe
EXp Chief Marketing Officer Wendy Forsythe said the rise in retention levels can be traced to the brokerage’s expanding tech stack, which includes three customer relationship management (CRM) platform options for agents, additional education and training programs, such as the launch of eXp’s land and ranch divisions, and a focus on enhancing in-person opportunities for eXp agents and brokers to collaborate and network.
“One of the things that is at the center of our culture is in-person events, and during Q2, we executed on several key in-person events,” she said during the call. One of the ones that is a really just such a treat is our regional rallies, which are events that we put on in conjunction and partnership with our agents.”
“The second of our EXPCON events that happened this quarter was in Barcelona… This event doubled in size year over year. We had over 550 eXp agents from over 18 different countries in attendance, and the event was just phenomenal… The thing that I think we all took away from this event is that real estate is truly happening globally, and we as eXp are collaborating on a global stage.”
As the brokerage heads into the second half of the year, leadership said its main growth pillars are eXp Global and SUCCESS.
“We delivered 59 percent year-over-year revenue growth. This was driven by a 9 percent increase in agents globally, along with improved agent productivity,” EXp Global Managing Director Felix Bravo said of the brokerage’s goal of reaching 50,000 agents in 50 countries by 2030. “Over the past 12 months, we have doubled down on attracting productive agents throughout all of our international markets. We have a two-year minimum experience requirement for agents to join, and we are continuing to evolve our value proposition at local and international levels to give agents the tools they need to grow their business, regardless of how regulated or informal a market may be.”
Meanwhile, Sanford said he’s excited to leverage SUCCESS’ training and media publication to supercharge growth, with a series of major announcements coming throughout Q3.
“Success begins with what you listen to and read and pay attention to at the beginning of each and every day. Doesn’t matter where you’re at in life, and the more that you can focus on your purpose and your mission, the less distracting all the other things that take place around you,” he said. “One of the things I’m thinking about specifically is how to help people get more focused on what their true mission and purpose is, and with that, pull people through that journey and help them be more effective with whatever they want to do, real estate or otherwise.”
Email Marian McPherson