PHOTO: eXp Realty

BELLINGHAM, Wash., Jan. 18, 2019 (GLOBE NEWSWIRE) — eXp Realty, the first, cloud-based real estate brokerage and a subsidiary of eXp World Holdings, Inc. (NASDAQ: EXPI), today announced that it surpassed 16,000 agents and brokers in North America, which represents an increase of more than 145 percent since the same time last year.

“We continue to innovate and change the industry, and we’re fortunate that so many agents want to be a part of it. Our business model offers a value to agents that isn’t available anywhere else,” said eXp World Holdings CEO, Chairman and Founder Glenn Sanford. “This is particularly awesome because when we started the agent equity award program, the ceiling was 16,000 agents and now we are breaking it. Our new sustainable equity plan allows agents to continue to receive equity in the company while securing eXp’s place in history.”

The milestone of 16,000 agents was the initial target company leadership used in 2013 when setting up the first equity incentives for agents. The Sustainable Equity Plan goes into effect immediately and provides a similar dollar value in equity today as the former plan. Under the new plan, agent incentives will be paid as a dollar value of shares, rather than a stair-stepped number of shares for achieving stated goals on a go forward basis.