A number of brokerages continue rolling out their Q2 numbers this week, and we’re keep tabs on the big wins. Next up: eXp Realty.
eXp World Holdings, parent company for eXp Realty, announced a record-setting $1 billion in revenue for the three month period ending June 30. According to the company statement, gross profit increased 133 percent to $79.9 million.
Net income increased 350 percent to $37 million.
“Achieving the milestone of $1 billion in revenue during the second quarter is a testament to all of the forward-thinking agents leveraging our unique brokerage model,” said Jeff Whiteside, CFO and Chief Collaboration Officer of eXp World Holdings.
Speaking of agents, eXp has slightly adjusted their previously reported number of new agents, while still boasting strong growth. The brand increased their agent and broker roster by 87 percent last quarter, bringing their talent total to 58,263.Those agents and brokers closed 115,431 residential and commercial transactions—a 164 percent year-over-year increase—equating to $40.1 billion in volume.
The company also declared a cash dividend for the third quarter of 2021 of $0.04 per share on the company’s common stock. The dividend is expected to be paid on Aug. 30, 2021 to shareholders of record on Aug. 16, 2021.
“Our substantial growth in agent count translated to exponential growth in transaction sides and volume closed,” said Glenn Sanford, Founder, Chairman and CEO of eXp World Holdings, pictured above. “We are also continuing to focus on creating a quality community for highly-productive individuals and teams both online and in real-life events around the world. It is gratifying to see eXp’s brokerage model support the careers of so many and is highly rewarding for me personally as well as our overall management team. Our decision as a board to declare a cash dividend is also a testament to how our agent-centric model has continued to mature and grow.”