EXp Realty Expands Into Poland Amid Worldwide Push

Competitors and a slowing market are making worldwide expansions an more and more essential a part of many U.S. firms plans for progress, together with eXp Realty.

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Digital brokerage eXp Realty introduced Tuesday that it’s increasing operations into Poland, highlighting the rising significance of abroad markets to American actual property firms.

The growth means eXp now has a presence in 23 totally different international locations. In an announcement Tuesday, Chief Development Officer Michael Valdes mentioned “Poland’s speedy progress and continued resilience in the true property market together with its wealthy and multi-cultural historical past, speaks to the attractiveness of its property sector.”

Dorota Chomuntowska

Dorota Chomuntowska, a Polish dealer with greater than a decade of expertise within the trade, will lead operations for eXp in Poland. In Tuesday’s assertion, she praised the digital brokerage’s “modern and agent-centric mannequin” and mentioned she seems “ahead to main eXp’s growth throughout the nation.”

EXp’s growth into Poland is the fifth such transfer for the corporate this yr, with earlier launches happening within the Dominican Republic, Greece and New Zealand, amongst different international locations.

The Polish launch additionally comes a couple of week after mother or father eXp World Holdings reported its third quarter earnings. On the time, the corporate revealed {that a} rising agent rely helped enhance income, however earnings however had been down in comparison with the identical interval final years. The falling income displays a quickly cooling housing panorama, and in an announcement firm founder and CEO Glenn Sanford described contending with an “more and more difficult market.”

Such challenges — in addition to intense competitors that predates the present downturn — have made worldwide expansions an more and more key a part of many U.S. agency’s methods. Except for eXp, rival Keller Williams has currently expanded within the Caribbean, Brazil and Saudi Arabia. Smaller companies similar to The Company have even be pushing into overseas areas.

Such expansions provide American firms the possibility to extend income and agent counts with out having to lure these brokers away from rival home companies — a prospect that may turn out to be each pricey and extremely acrimonious. Specialists additionally consider the present downturn is more likely to scale back the variety of working towards brokers within the U.S., that means that if firms need continued progress, worldwide growth will solely turn out to be extra essential.

Michael Valdes

That is notably true for eXp; final yr Sanford mentioned the corporate hopes to ultimately have 500,000 brokers — a lofty aim that will far surpass the present agent counts of any rivals. Final month, at eXp’s annual gathering Sanford additional defined that he needs to have 250,000 brokers within the U.S. alone. Nevertheless, eXp at the moment has about 85,000 brokers worldwide, that means it has aggressive progress targets for each the U.S. and worldwide markets.

Within the case of eXp’s transfer into Poland, Valdes in the end concluded in Tuesday’s assertion that “we’re altering the way in which actual property is finished around the globe and are excited to empower brokers in Poland with our distinctive mannequin constructed for fulfillment.”

E mail Jim Dalrymple II