eXp Realty Paid Over $240 Million in Revenue Share and Equity Benefits to Agents and Brokers in 2022

Aligning the interests of agents and brokers with the company they own is key to eXp Realty’s long-term growth strategy

Revenue Share and Equity Benefits
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eXp Realty Paid Over $240 Million in Revenue Share and Equity Benefits to Agents and Brokers in 2022

BELLINGHAM, Wash., March 03, 2023 (GLOBE NEWSWIRE) — eXp Realty®, “the most agent-centric real estate brokerage on the planet™” and the core subsidiary of eXp World Holdings, Inc. (Nasdaq: EXPI), today released its 2022 revenue share and agent equity payout figures, demonstrating how its competitive compensation model underpins continued agent growth.

Revenue Share and Equity Paid to Agents and Brokers Continues To Increase Year-over-Year

  • Revenue share to agents increased 20% to $202 million in 2022.
  • eXp Realty distributed more profit/revenue share benefits last year to agents and brokers than any other real estate brokerage model or platform.
  • As part of our agent equity program, eXp World Holdings issued over 2.5 million EXPI shares to eXp Realty agents and brokers valued at more than $42.5 million.

“When eXp Realty was founded, we set out to build the most agent-centric brokerage that solved the biggest pain point in real estate for agents,” said Glenn Sanford, Founder and CEO of eXp Realty. “Historically, agents were generally not offered meaningful ownership in the brokerages they were part of and the profit/revenue sharing models didn’t provide a viable path to potential retirement for the vast majority of agents.

“With this in mind, an important part of building eXp was designing a truly aligned compensation model that rewards agents for their production and contribution to the company’s growth. As we have disclosed in our fourth quarter and full-year 2022 results, our model and core business has proven to be sustainable in both good and bad markets. More importantly, it proves that we are delivering on the promise we made to agents when eXp was founded in 2009. By building the most agent-centric real estate brokerage on the planet, we continue to grow, improving the lives of agents around the world.

All that being said, since becoming a public company in 2013, EXPI’s stock has outperformed all other publicly traded real estate brokerages, franchisors and brokerage/franchisor conglomerates. We also enjoy the highest market cap among all publicly traded residential real estate brokerage platforms, showing once again that focusing on the agent experience isn’t just good for the agent, but it has also been good for long-term shareholders.”

Revenue Share and Equity Benefits Detail
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Revenue share to agents increased 20% to $202 million in 2022. eXp Realty distributed more profit/revenue share benefits last year to agents and brokers than any other real estate brokerage model or platform. As part of our agent equity program, eXp World Holdings issued over 2.5 million EXPI shares to eXp Realty agents and brokers valued at more than $42.5 million.

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 largest independent real estate company in the world with more than 87,000 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, Chile, Poland and Dubai 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 and expansion of our residential real estate brokerage business into foreign markets. 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:
Jennifer Zimmerman
eXp World Holdings, Inc.
mediarelations@expworldholdings.com

Investor Relations Contact:
Denise Garcia, Managing Partner
Hayflower Partners
investors@expworldholdings.com

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Malaysia-UAE agree to boost cooperation – PM Anwar

KUALA LUMPUR, March 4 (Bernama) — Malaysia and the United Arab Emirates (UAE) have agreed to boost cooperation between both countries in various fields including trade, investment, defence and energy, Prime Minister Datuk Seri Anwar Ibrahim said.

The prime minister posted on his official Facebook account today, stating that these matters were among the topics he discussed with UAE president Sheikh Mohamed Bin Zayed Al Nahyan via a telephone conversation yesterday.

“I also took the opportunity to thank Sheikh Mohamed for UAE’s assistance in helping Malaysia to send humanitarian aid to earthquake victims in Syria recently,” he posted.

The UAE government and the country’s Red Crescent Society have assisted to deliver 42 tons of humanitarian aid from the Malaysian government in Syria.

Meanwhile, Anwar said he was honoured to receive Sheikh Mohamad when he visited Malaysia this year and hoped to make a reciprocal visit to the UAE soon.

Source: BERNAMA News Agency

Floods: KPDN distributes ‘food bank’ aid for besieged victims

KUANTAN, March 4 (Bernama) — The Ministry of Domestic Trade and Cost of Living (KPDN) has mobilised ‘food bank’ aid to flood-affected areas in the state, especially in the locations of victims who have been cut off.

Its Deputy Minister Senator Fuziah Salleh said the initiative was implemented to prevent those who were stranded due to floods to be cut off from food and necessities.

“We received information that there are locations where the residents are surrounded by floods and they cannot go out and buy essentials, so we will send food bank supplies to them.

“So far, KPDN Pahang and Johor have been active in helping victims by sending ready-to-eat food such as biscuits, bread and mineral water to temporary relief centres but if there is a request in an area besieged by floods, we will also dispatch personnel into the area to help out with the food bank,” she said.

She said this at a press conference after officiating the Payung Rahmah Initiative at TMG Mall here today, which was also attended by Pahang Consumer Affairs and Human Resources Committee chairman Sim Chon Siang.

Commenting further, she said that the ‘food bank’ was obtained from the contribution of the ministry’s strategic partners who are always ready to work together to help those in need.

On today’s initiative, a total of 100 asnaf around the Kuantan district received Rahmah basket donations which aims to reduce the burden of living costs faced by those groups.

In addition to the Rahmah Basket, the Rahmah Umbrella initiative also includes Rahmah Sales Programme, Rahmah Package and the Menu Rahmah.

Also at the programme, fast food restaurant Chicago Chicken City (CCC) also participated in implementing the Menu Rahmah initiative which offers rice, a piece of chicken and a milo drink at the price of RM5 for one meal in all 11 of its branches nationwide.

Source: BERNAMA News Agency

Johor residents urged to be on alert, stay safe – MB

BATU PAHAT, March 4 (Bernama) — The Johor government has reminded the people to always be alert to instructions from the authorities and take care of their safety.

Menteri Besar Datuk Onn Hafiz Ghazi said this follows the latest warning issued by the Malaysian Meteorological Department (MetMalaysia) that heavy rainfall is expected to continue until tomorrow (March 5).

“I hope everyone can share this posting so that the information reaches the entire Johor people.

“A danger-level heavy rain warning has been issued for Segamat, Kluang and Mersing districts, while bad weather in Muar, Tangkak, Batu Pahat, Pontian, Kulai, Kota Tinggi and Johor Bahru,” he said in a posting on Facebook.

Onn Hafiz said MetMalaysia also predicted that continuous monsoonal surge would cause heavy rain in the eastern peninsula and strong winds and rough seas over waters of the South China Sea until March 6.

“This is likely to increase the sea water level in the waters of East Johor and cause overflowing,” he said.

As of 4 pm, the number of flood victims in the state increased to 39,476 people in nine districts.

Source: BERNAMA News Agency

Over 40,500 flood evacuees still housed in relief centres in six states

KUALA LUMPUR, March 4 (Bernama) — Flood victims in several states continue to rise with over 40,500 evacuees currently seeking shelter in relief centres in six states.

In PAHANG, the state disaster management committee secretariat reported that evacuees have risen to 2,388 individuals in 21 centres compared to 2,317 individuals this morning, with Rompin having the most, with 1,912 people, followed by Temerloh (302 people), Pekan (106 people), Maran and Bera (29 people each) as well as Jerantut (10 people).

In MELAKA, numbers rose slightly to 380 people from 97 families at 2 pm compared to 379 people this morning. They are housed in six relief centres in Jasin (five centres) and Alor Gajah (one).

In JOHOR, the number of evacuees dropped slightly to 37,258 people compared to 37,322 this morning, but there were two more centres opened, bringing the total of centres currently in operation in the state to 240 in nine districts.

Segamat remained the worst hit district, with 12,900 evacuees from 3,783 families, followed by Batu Pahat (7,830 people from 2,294 families); Kluang (5,285 people from 1,533 families); Kota Tinggi (3,283 people from 879 families); Muar (3,278 people from 952 families); Tangkak (2,661 people from 754 families); Johor Bahru (699 people from 226 families); Mersing (964 people from 280 families) and Pontian (358 people from 91 families)

In NEGERI SEMBILAN, the number of evacuees dropped to 711 people from 191 families as of noon compared to 783 this morning. They are being housed in four centres in Tampin, with Sekolah Kebangsaan Felda Sungai Kelamah housing the most, 514 people. Meanwhile all centres in Jempol have been closed.

In SELANGOR, the number of evacuees dropped slightly to 103 people from 25 families compared to 107 people from 24 families this morning. Two relief centres – SK Merbau Sempak, Sungai Buloh and Dewan Majlis Perbandaran Kuala Selangor (MPKS) Desa Coalfields, Kuala Selangor remain open.

Finally, in SARAWAK, the situation remained unchanged, with 14 people from five families still being housed at Komplek Sukan Julau.

Source: BERNAMA News Agency

RM192 mln to upgrade Chendering Port – Mohamad

KUALA TERENGGANU, March 4 (Bernama) — The government has allocated RM192 million to upgrade the Malaysian Fisheries Development Authority’s (LKIM) Chendering Port here.

Agriculture and Food Security Minister Datuk Seri Mohamad Sabu said the project would allow more large-sized fishing boats to dock at the port, thus increasing fish landings.

“The Chendering Port will be dredged for it to return functioning as per its role previously. In terms of the initial works, the state government has dredged the sand (near the port), which cost RM3 million.

“After this, Chendering Port will become active again, more vessels will land fish at the port including larger boats,” he said while visiting Syarikat Amir Vision Sdn Bhd here, today.

Amir Vision is one of the Bumiputera-owned companies involved in the development of modern vessels in Zone C2 of Terengganu.

Meanwhile, Terengganu LKIM director Rosli Mustapa said the Chendering Port was plagued by a shallow estuary and a lack of facilities, making it difficult for fishing boats to land, especially large ones.

“This upgrading work is expected to start in April, beginning with the assessment and study process to build a breakwater as well as for minor infrastructure work.

“Then we will continue with the upgrade project in stages. The port can still be used at present, only there are some inconveniences, as big boats can only enter at high tide and have to take turns because the passage is not big enough,” he said.

According to him, an additional allocation of RM40 million will also be requested from the government to cover the cost of the channel deepening project at the port.

“This amount is not included in RM192 million allocation announced just now,” he added.

Source: BERNAMA News Agency

14,426 kidney patients received dialysis treatment last year – MOH

SEREMBAN, March 4 (Bernama) — A total of 14,426 kidney patients underwent dialysis treatments at government hospitals last year, Health Minister Dr Zaliha Mustafa said.

From that total, 8,574 patients received hemodialysis treatment while 5,852 received peritoneal dialysis treatment, she added.

“Dialysis treatment is done after kidney patients are in the final stages of the disease and need to cleanse their kidneys. Some of the patients suffer from these kidney problems due to secondary causes, including diabetes and high blood pressure.

“So we advise these patients to be aware of the main disease they face so that it does not end in kidney failure,” she told reporters after officiating the closing of the community service programme in conjunction with World Kidney Day in collaboration with Universiti Kebangsaan Malaysia here, today.

World Kidney Day is celebrated on March 2 each year with the aim of increasing community awareness and understanding of the importance of taking care of kidneys.

Given the level of public awareness about it is still low, Dr Zaliha said the Health Ministry (MOH) is implementing various awareness programmes, including health checkups and kidney disease screening tests for Malaysians.

She said this is because it is time for the national health system to return to the concept of health care rather than sick care (patient care) in order to enjoy a better quality of life.

“The concept is simple, we have to prevent it from the beginning and not get sick. We have to detect early, not only kidney but other diseases that can sometimes lead to kidney damage. This is the first step to being healthy,” she said.

She added that her ministry will launch the MADANI Medical Scheme, a special initiative for the less able to get health treatment at general and private clinics by June the latest, adding that the technical committee is currently fine-tuning the scheme.

“So many MOH facilities, especially the emergency department, are experiencing congestion, 70 per cent are green zone cases, which are not critical, so we have to move them to get treatment at a nearby private clinic because the emergency section is for yellow and red zone cases,” she said.

Prime Minister Datuk Seri Anwar Ibrahim said the government allocated RM120 million for that purpose to helping the B40 group get medical treatment when tabling the Budget 2023 recently.

Source: BERNAMA News Agency