eXp Realty Opens Brokerage Operations in Chile

BELLINGHAM, Wash., Sept. 08, 2022 (GLOBE NEWSWIRE) -- eXp Realty^®, the fastest-growing global real estate brokerage and the core subsidiary of eXp World Holdings, Inc. (Nasdaq: EXPI), has expanded into Chile, strengthening its position in South America where it already has operations in Brazil and Colombia. eXp Realty now operates in 22 markets with more than 84,000 agents around the world.

eXp Realty’s agile cloud-based work platform has allowed it to expand rapidly across the globe, opening 18 new markets in under two years. Chile is one of the previously announced countries identified for expansion in 2022.

“Chile represents a strategic expansion into a growing and diverse market, while deepening our already strong presence in the Caribbean and Latin American region,” said Michael Valdes, Chief Growth Officer, eXp Realty. “We’re thrilled to bring our agent-centric, innovative model and leading value propositions to real estate agents in Chile.”

eXp Realty’s brokerage operations in Chile will be led by Virginia Restrepo, who brings seven years of experience in real estate sales and leadership, and takes pride in helping her colleagues reach their goals. “My mission is to change people's lives,” said Restrepo. “eXp Realty is a company built for agents and whose unique value proposition, compensation model and extensive digital resources are transforming the industry standard.”

eXp Realty’s financial model for residential and commercial real estate agents offers an attractive commission structure, providing agents with an opportunity to earn additional income by helping to grow the company’s agent base and production globally, and earn equity in the company through listing and selling activities. eXp Realty’s cloud-based brokerage is powered by Virbela, the company’s immersive and collaborative virtual platform, which enables its agents to communicate, meet and conduct business in the metaverse.

About eXp World Holdings, Inc.

eXp World Holdings, Inc. (Nasdaq: EXPI) is the holding company for eXp Realty^®, Virbela and SUCCESS^® Enterprises.

eXp Realty is the fastest-growing real estate company in the world with more than 84,000 agents in the United States, Canada, the United Kingdom, Australia, South Africa, India, Mexico, Portugal, France, Puerto Rico, Brazil, Italy, Hong Kong, Colombia, Spain, Israel, Panama, Germany, Dominican Republic, Greece, New Zealand and Chile and continues to scale internationally. As a publicly traded company, eXp World Holdings provides real estate professionals the unique opportunity to earn equity awards for production goals and contributions to overall company growth. eXp World Holdings and its businesses offer a full suite of brokerage and real estate tech solutions, including its innovative residential and commercial brokerage model, professional services, collaborative tools and personal development. The cloud-based brokerage is powered by Virbela, an immersive 3D platform that is deeply social and collaborative, enabling agents to be more connected and productive. SUCCESS Enterprises, anchored by SUCCESS magazine and its related media properties, was established in 1897 and is a leading personal and professional development brand and publication.

For more information, visit https://expworldholdings.com.

Safe Harbor Statement

The statements contained herein may include statements of future expectations and other forward-looking statements that are based on management’s current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. Such forward-looking statements speak only as of the date hereof, and the company undertakes no obligation to revise or update them. These statements include, but are not limited to, statements about the continued growth of our agent and broker base; expansion of our residential real estate brokerage business into foreign markets; demand for remote working and distance learning solutions and virtual events; and revenue growth and financial performance. Such statements are not guarantees of future performance. Important factors that may cause actual results to differ materially and adversely from those expressed in forward-looking statements include changes in business or other market conditions; the difficulty of keeping expense growth at modest levels while increasing revenues; and other risks detailed from time to time in the company’s Securities and Exchange Commission filings, including but not limited to the most recently filed Quarterly Report on Form 10-Q and Annual Report on Form 10-K.

Media Relations Contact:

eXp World Holdings, Inc.

mediarelations@expworldholdings.com

Investor Relations Contact:

Denise Garcia

investors@expworldholdings.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/184a37fc-4bc9-4b4d-a7e0-ceaba749ee12