EXp Realty will pay agents and brokers $232.6 million in revenue shares and equity gains in 2023, according to the company’s annual program update released mid-Monday. The largest share of the spending — $197.9 million — came from revenue sharing. The remaining $34.7 million came from 2.2 million shares of EXPI stock.
The time has come – the time to take charge. This summer, July 30-August, at Inman Connect Las Vegas. On January 1, 2024, experience the complete reinvention of the most important event in real estate. Join your peers and the best in the industry to shape the future. learn more.
EXp Realty paid agents and brokers $232.6 million in revenue share and equity gains in 2023, according to the company’s annual program update Published on Monday. The largest share of the spending — $197.9 million — came from revenue sharing. The remaining $34.7 million came from 2.2 million shares of EXPI stock.
revenue sharing expenses Based on the number of production agents Current EXP agent or broker sponsors will receive equity when agents and brokers meet certain key performance indicators (such as reaching the full commission cap). Agents can also sign up to buy shares at a 10% discount and earn 5% commission on each trade.
Glenn Sanford
“Our mission is simple: help agents succeed and solve their biggest pain points,” eXp Realty founder and CEO Glenn Sanford said in a prepared statement. “In our Prior to creating this company, real estate agents did not receive any meaningful ownership in the brokerage firms they were affiliated with, so we established eXp to compensate our agents for their contribution to our growth.”
“We are more than just a brokerage, we are a community of forward thinkers committed to shared growth opportunities,” he added. “Despite market challenges, our resilient model continues to thrive, proving that when our agents succeed, we all succeed.”
Revenue share fell by 4.86% this year eXp donates $244.5 million starting in 2022 Revenue shares and equity returns. More than $200 million came from revenue sharing and $42.5 million came from equity gains. 2022 revenue and equity share are 20% higher than 2021 total revenue of approximately $162 million.
The decline in revenue share and equity gains stems from the company’s 2023 results.
Experience Latest profit report It was revealed that the virtual brokerage firm’s full-year revenue fell 7% to $4.3 billion. The company’s profitability has undergone a 180-degree turn, going from a net profit of $15.4 million in 2022 to a net loss of $9 million in 2023. The company’s earnings per share also took a hit, falling $0.02, or 118%.
A previous article by Inman outlined eXp’s rocky ride on the stock market. The company’s shares traded in a range around $13 in the first quarter of 2023, rebounding to $25 per share by the third quarter. However, the company’s shares fell again before rising in December, and have fallen back to the $12 range this year.
Despite the difficulties in 2023, Sanford and his team of senior executives remain optimistic about eXp’s development trajectory in 2024.
“Our unique approach to agent compensation and equity is a testament to our belief in our shared success,” Sanford said of 2023 revenue and equity payments. “As we continue to grow in the evolving real estate landscape, our The focus remains on supporting agents, fostering their growth, and ensuring they hold an important place in our company’s collective success. “
Email Marianne McPherson
