eXp Realty announced a joint initiative with New Story, a nonprofit that pioneers solutions to end global homelessness, to build 100 homes in the Morelos region of Mexico. The area is still struggling to rebuild following a devastating 7.1 magnitude earthquake in 2017.
Each home costs an average of $6,000 ti build, with support of New Story’s corporate and industry partners. New Story works with local partners, equipped with the trust of communities and cultural competencies, to complete these builds.
eXp Realty has a goal of funding 100 homes by raising money via its employees and network of agents. Additionally, eXp founder and chairman, Glenn Sanford, has pledged to match up to $300,000 in contributions with a goal of raising $600,000.
“We are honored to work with New Story to provide relatively low cost, sustainable homes because we know the importance a home makes to families no matter where they live,” Sanford said via press release. “We are passionate about bettering lives and helping communities around the globe and this area of Mexico is still in need of housing for those impacted. I wanted to personally show my commitment with this matching gift to help build safe, sustainable homes.”
eXp opened brokerage operations in Mexico in November 2020—it’s first Spanish-language country in its global expansion.