Introduction From the Editor
Dear eXp South Africa Family,
As we step out of and into another eXciting quarter, I am thrilled to share some fantastic updates and celebrate the remarkable achievements within our vibrant community.
First and foremost, we have upgraded our revenue share compensation model. As we say, "Nothing has changed, and everything has changed."
From June 1, 2024, our new model makes it even easier for eXp agents to earn revenue share. It’s simpler than ever to understand, with new incentives, clear calculations, and enhanced transparency. This enhancement is designed to empower your growth, and I can't wait to see how it propels your success.
In other thrilling news, we are overjoyed to announce that our very own eXp Realty agent, Misty Schultz, has been crowned 2024 Mrs. Western Cape! Misty's dedication and hard work are truly inspiring. Beyond her professional success, she is deeply committed to empowering her local community through various projects and volunteer efforts. Congratulations, Misty, on this well-deserved honour!
We also want to give a big shoutout to our amazing agent, Robert McTavish, for conquering the Ultimate Human Race this month at the Comrades Marathon. Your dedication and determination are truly inspiring, Robert. Huge congratulations to you and all the incredible participants!
We recently celebrated our first eXpcon International awards ceremony in Lisbon, Portugal, where South African agents shone brightly on the global stage. A MASSIVE shoutout to NRG for winning the 2023 Top Team Sides, Misty Schultz for receiving the 2023 Humanitarian Award, and Cara Spies for being named the 2023 eXp Rookie of the Year (Sides). What an incredible international achievement for each of you!
In another groundbreaking achievement, Wayne Smith officially CAPped solely through rentals. Wayne, your dedication and excellence are commendable, and we are proud to have you as part of the eXp family. You are taking the rental game to the next level and we are with you every step of the way.
A huge congratulations to Louise du Plessis for selling the most expensive property in Langebaan, Western Cape, at an astounding 20 million rand. Louise, this milestone marks just the beginning of your journey in the luxury market space.
We are eXcited to introduce our global referral platform, a significant upgrade to our Agent Referral Tool. This platform now allows our agents to connect effortlessly with agents in 22 additional international markets. This is a tremendous opportunity for South Africans to expand their network and explore new horizons worldwide.
Last but not least, we celebrated a major milestone with William Campbell, who has reached 1,000 agents in his REVenue Share Organization. Bill, you have set the bar high as the first South African to achieve this. If you missed the Zoom celebration, you can find the recording on our eXp Realty South Africa YouTube channel.
Here's to another quarter filled with growth, achievement, and collaboration. Let's continue to support each other and strive for excellence.
Warm regards,
Andrew Thompson Country Leader, eXp Realty South Africa
eXp World HoldingseXp Realty News
eXp World Holdings Q1 2024 Results
eXp World Holdings has released its first quarter 2024 financial and operational results, and among the highlights are an 11% increase in revenue, an improved agent NPS score, and improved transaction results in both volume and units as compared to this same period a year ago.
“During the first quarter, our agents closed over $37 billion of transactions, a 12% year-over-year increase, underscoring eXp’s unparalleled scale in the cloud brokerage market we pioneered,” said Glenn Sanford, eXp World Holdings Founder, Chairman and CEO.
“We continue to provide our agents with the industry’s best platform for growth and the resources they need to navigate today’s dynamic real estate market. Under Leo Pareja’s leadership, I am confident that eXp Realty will extend its leadership position in the coming years and continue to redefine what it means to be the most agent-centric real estate brokerage on the planet,” he added.
Financial Results Compared to Year-Ago Quarter
• • •
Revenue for the first quarter increased by 11% to $943 million. This growth was driven by enhanced agent productivity, higher average home sales prices, and increased international production despite challenges in the real estate market. Notably, U.S. transaction units outperformed the market.
Net (loss) income for the first quarter amounted to ($15.6) million compared to $1.5 million net income in Q1 2023. This included a $16 million antitrust litigation contingency provision.
Adjusted net (loss) income, excluding the antitrust litigation provision and discontinued operations, was ($2.4) million compared to adjusted net income of $2.0 million in the previous year’s quarter.
investments in personnel to support increased transaction volumes and agent satisfaction, alongside increased severance and legal expenses.
Adjusted EBITDA for the first quarter was $11.0 million, reflecting a 24% decrease compared to last year’s period, primarily due to higher operating costs.
Operational Results Compared to Year-Ago Quarter
The global agent Net Promoter Score (aNPS) for eXp Realty reached 73, up from 70 in the previous year. This metric is crucial for measuring agent satisfaction and reflects the company’s dedication to improving the agent experience.
The number of agents and brokers on the eXp Realty platform decreased by 2% year-over-year to 85,780 as of March 31, 2024.
Transactions increased by 8% year-over-year to 110,976, while transaction volume rose by 12% to $37.2 million.
eXp Realty made strategic executive appointments during the first quarter, including Renee Kaspar as Executive Vice President and Chief Human Resources Officer, Seth Siegler as Chief Innovation Officer, Sumanth Kamath as Chief Technology Officer.
On April 4, 2024, Leo Pareja was appointed as Chief Executive Officer, and on April 26, 2024, Wendy Forsythe was named Chief Marketing Officer, further strengthening the leadership team.
These results and achievements underscore eXp World Holdings’ continued commitment to growth, innovation, and agent satisfaction as it navigates the evolving real estate landscape.
Read the full results
Leo Pareja Takes Over the Reins of eXp Realty CEO from Glenn Sanford
Another major announcement comes on the heels of several recent leadership changes at eXp Realty. Leo Pareja, who has served as Chief Strategy Officer, has been promoted to CEO of eXp Realty. Pareja takes the reins from Glenn Sanford, who will focus on his position as Founder, CEO and Chairman of eXp World Holdings.
Pareja joined eXp Realty in 2022 as President of eXp Realty’s Affiliated Services and within six months, was promoted to Chief Strategy Officer. In his capacity as CSO, he launched strategic initiatives such as eXp Exclusives, Revenos, and made significant enhancements to eXp Solutions.
“Leo’s innovative and recognised industry leadership has elevated our agent-value proposition by reshaping referrals and lead generation,” said Sanford.
“His deep industry experience and influence on our community have been profound, and I trust that under his direction, eXp Realty will further fortify its competitive advantage and deliver unparalleled value to our agents, further cementing our
Glenn Stanford Bio
position as a ground-breaking leader in the real estate industry,” he added.
Pareja brings over two decades of extensive real estate experience and entrepreneurship to his new role. After a 15-year career as an agent for a major brokerage — achieving No. 1 producer in 2010 — he went on to co-found one of the largest private lending companies on the U.S. East Coast and then launched an MLS technology solutions company before selling it and joining eXp.
He has served as the founding president of the Metro D.C. chapter of NAHREP and later became the national president.
“As we step into this new chapter at eXp Realty, I am honoured to lead a company that has always placed innovation and agent success at the forefront of its mission,” said Pareja.
“Together, we will not only continue to redefine the real estate landscape through technology and unparalleled agent support but also empower every member of our community to achieve their full potential,” he concluded.
Since early 2002, Glenn Sanford has been actively involved in the online real estate space. In early 2007, he launched BuyerTours Realty, LLC which, using a combination of web and traditional brick-and-mortar, grew to three offices and into two states.
After the drop of the market in late 2008, Sanford and his executive team went back and rewrote the entire business model in recognition of the “perfect storm” of lower revenues, fixed or rising overhead costs, and a consumer with more information and access than ever before. eXp Realty, LLC was launched in October 2009 as the first truly cloud-based national real estate brokerage, which meant giving up the traditional brick-and-mortar environment and moving to a fully immersive 3D virtual office environment.
This allowed agents, brokers and staff to collaborate across borders while learning and transacting business from anywhere in the world. In 2013, eXp Realty became a subsidiary of eXp Realty International Corp.
Leo Pareja Bio
Leo Pareja embarked on his real estate career at the age of 19. By the age of 28, he had become the #1 Keller Williams agent worldwide. Over his 15-year career in sales, Pareja sold approximately 4,000 homes. In 2012, he co-founded Washington Capital Partners, transforming it into one of the largest private lending companies on the East Coast, with over $2 billion in originated hard money loans. In 2016, he co-founded Remine, a platform that quickly became the fastest-growing MLS platform in the industry, achieving an 80% market share and attracting over 1.1 million users.
After exiting both WCP and Remine, Leo joined eXp Realty's executive leadership as a named officer of EXPI. His role involves devising strategies that enhance and continually develop eXp Realty's competitive edge and its value proposition to agents. He is dedicated to optimising the organisation and pursuing new growth opportunities.
Pareja has been recognised five times in the Swanepoel Power 200 (SP 200), ranking among the most powerful and influential executives in the residential real estate brokerage industry. In 2020, alongside his wife, Ariana Pareja, Leo co-founded the Pareja Family Foundation. The foundation awards scholarships to disadvantaged women and minorities, enabling them to attend a six-month tech bootcamp. This initiative aims to help them enter the tech industry without college debt, potentially doubling or tripling their income.
eXp Realty Names Industry Leader, Wendy Forsythe as New CMO
Long-time real estate executive, Wendy Forsythe has been appointed as eXp Realty’s new Chief Marketing Officer. With over 20 years of experience in the real estate industry, including executive roles at major firms like Compass and HomeSmart International, Wendy brings a wealth of industry knowledge and expertise to her new position.
“Wendy’s extensive experience and passion for real estate marketing uniquely position her to lead our marketing strategies into a new era as we continue to expand globally. Her visionary approach will be crucial in elevating eXp Realty’s presence and impact on the world stage,” said Leo Pareja, CEO of eXp Realty.
“Her industry background and understanding of modern real estate marketing will best position us to expand our reach and impact in the market,” he added.
In her role as Chief Marketing Officer, Forsythe will oversee all aspects of eXp Realty’s marketing strategy, from brand management and advertising to digital marketing and public
eXp Realty Partners with Bank of Montreal (BMO) to Create Referral Opportunities and Revolutionise Home Financing in Canada
relations. Her strategic vision will focus on strengthening eXp Realty’s position as a leader in the real estate industry while enhancing the innovative tools and services that empower eXp Realty agents.
“I’m absolutely thrilled to join eXp Realty. This company is a real trailblazer in the real estate industry, well-known for its innovative spirit and deep commitment to supporting its agents,” said Forsythe.
She added, “I’m eager to bring my own experiences and insights as an agent and broker-owner into this role. My focus will be on crafting marketing strategies that not only elevate our brand but also empower our agents globally to achieve even greater success.”
A seasoned executive, Forsythe has been instrumental in developing and executing growth strategies that significantly increased brand recognition and market share.
In an announcement at eXpcon Canada, eXp Realty announced a groundbreaking partnership with Bank of Montreal (BMO). This strategic collaboration seeks to elevate home financing services, offering enhanced referral opportunities for agents and exclusive offerings for clients.
The partnership between eXp Realty and BMO has a shared goal of revolutionising the home financing experience in Canada. By combining forces, they aim to amplify referral opportunities and enrich revenue prospects for both eXp Realty agents and their clients.
The financial framework of the partnership is designed to incentivise excellence and drive growth with funded referrals.
The integration of BMO into the eXp network, along with joint branding initiatives and event participation, is poised to unlock extraordinary opportunities for advancement within the realty sector. This partnership represents a significant step forward in delivering top-tier home financing solutions and enhancing the overall client experience in the Canadian real estate market.
The compensation model that revolutionised the industry has just been enhanced. While the core remains the same, everything has evolved. We have simplified the process for eXp agents to earn revenue share: it's now easier to understand, empowering your growth with new incentives, clear calculations, and greater transparency.
Empowering Your Hard Work for Success.
Our founder, Glenn Sanford, changed the game forever and now he’s done it again.
• We are introducing the Revenue Share Pool to make the calculation of revenue share more transparent, simple and easy to understand.
• We are reducing barriers by lowering the requirements for Front Line Qualifying Agents (FLQA).
• We are rewarding agents who help grow our community with a 50% revenue share pool payout during an agent’s first year.
Our first three tiers are now unlocked immediately, and they stay unlocked. It's enhancements like these that make us #eXpProud and proves that eXp Realty is a brokerage where the pros go to grow! See how it works
eXp is simplifying the process for paying out revenue share by basing all calculations on the Revenue Share Pool, which represents the 50% of company dollar they’ve committed to paying back out to agents as revenue share. Any of the rev share pool not paid out will be added back to level 1-3 payouts as an adjustment bonus on a monthly basis.
The Rev Share Pool is a streamlined approach to calculating payouts that, on top of the lowered criteria for Front Line Qualifying Agents in levels 2-6 eXp put into place for its agents, puts more money in our pockets.
Are you ready to find out more about the fastest-growing real estate brokerage in the world? Better yet, are you ready to engage with industry colleagues and the team that brings the vision to life?
eXp Realty South Africa has hit the road in 2024, undertaking 52 roadshows in 52 weeks!
By attending our countrywide roadshow events, you can discover the eXp Realty advantage through detailed presentations that eXplain our innovative agent-centric model. Further to this, learn how the eXp model empowers agents to achieve success and growth.
We also have a platform for guest speakers to engage and share their expertise, a sponsors panel discussion, as well as agent testimonials so you can understand how they have leveraged our model and tools to achieve their professional and personal goals.
Our journey is set to continue so keep your eyes on our social media pages to see when we will be in a city near you. See you on the road! Revenue Share 2.0:
Our first stop for 2024 was KwaZulu-Natal in February with events in Richards Bay, Ballito, Durban, Pietermaritzburg and Port Shepstone, after which we moved on to Gauteng in March where we introduced eXp to Bryanston, Vanderbijlpark, Irene and Pretoria. In April, we visited the Eastern Cape where we hosted events in East London, Gqeberha, George and Mossel Bay and then onto the Mother City in May which saw us visiting Sea Point, Bellville, Stellenbosch and Langebaan. In June, we stopped off in the Mpumalanga and Limpopo provinces hosting events in White River, Malelane, Mbombela, Phalaborwa and Tzaneen.
Make Every First Impression Count with the New eXp Buyer’s Kit
eXp Realty has just launched the eXp Buyer’s Kit, a new tool specifically crafted to support its agents in providing eXceptional service to homebuyers. This comprehensive kit is designed to empower eXp Realty buyer agents with a robust array of resources to enhance client interactions and streamline the homebuying process.
The eXp Buyer’s Kit includes a carefully curated selection of materials. Agents will receive 10 high-quality presentation folders, a fully customisable Buyer Presentation, and an assortment of printed materials such as checklists, timelines, and informational guides that cover key aspects of the homebuying journey. Additionally, the kit provides links to invaluable resources like Neighbourhood Guides and Financial Planning tips, allowing agents to offer tailored advice and insights.
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While the core materials in the Buyer’s Kit are standardised to ensure consistency and quality across the board, there is ample opportunity for agents to personalise the eXperience. Agents have the option to add their branding or customise elements within the Buyer Presentation and the Lender Recommendations one-sheeter, making it possible to tailor their approach to meet specific client needs.
The introduction of the Buyer’s Kit is part of a broader effort by eXp Realty to enhance the capabilities of its agents. This initiative includes a range of training resources, marketing materials, and support services, all designed to foster agent success and improve client satisfaction.
Available eXclusively through the eXp Marketing Centre, this kit is tailored to help eXp Realty agents effectively communicate their value proposition to clients. It enables agents to organise
Available eXclusively through the
Recognising Outstanding Achievements at the Inaugural eXpcon International
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eXp Realty recognised several real estate professionals for their outstanding achievements in 2023 during the company’s inaugural eXpcon International conference, which took place from 4-6 June in Lisbon, Portugal. This exceptional event united eXp Realty’s top-performing international agents, industry professionals and thought leaders from around the globe, enabling them to learn and foster growth through a series of panel sessions and presentations.
eXp Realty’s senior leadership team gathered during the general sessions on 5th and 6th June to celebrate the outstanding production numbers and performances of eXp Realty International agents in 2023 across various categories. These include Production Excellence by Exceptional Individuals and Teams, Humanitarian of the Year, and Woman of Influence.
Congratulations to NRG for winning the 2023 Top Team Sides, Misty Schultz for receiving the 2023 Humanitarian Award, and Cara Spies for being named the 2023 eXp Rookie of the Year (Sides). What an incredible international achievement for each of you! It is exciting to see what our South African agents are accomplishing not just locally, but internationally. We can’t wait to celebrate more successes with our agents. We would also like to mention and honour all the other international winners. It is great to be part of a global family and witness the company thrive on an international scale.
Congratulations to all the winning agents and teams, including:
2023 Top Agent Sides: Mark Buchanan, UK
2023 Top Agent Volume: Amie Brooks, UK
2023 Top Team Sides: NRG, South Africa
2023 Top Team Volume Team LuxuryByBlue (FR)
2023 Woman of Influence: Clare Hughes (UK)
2023 Best Social Media for Real Estate: Vane Monroe (MX)
2023 Humanitarian Award: Misty Schultz (SA)
2023 eXp Rookie of the Year (Sides): 2023 eXp Rookie of the Year (Vol.): Daniel Archer (UK)
Discover the eXp Advantage with Our Let’s Talk! Series
We are thrilled to have recently launched the Let’s Talk! series, a platform designed to connect, educate, and empower our eXtensive network of real estate professionals. This dynamic series offers a unique opportunity to gain insights and knowledge from the industry's most influential leaders and visionaries.
Our Let’s Talk! series delves into the eXp Realty advantage, unpacking the groundbreaking model that sets us apart in the competitive real estate landscape. Each installment promises to be filled with valuable information and strategic knowledge that can transform your business as an eXp agent.
Our May sessions kicked off on a high note as hosts, Siya Ndzimande and Andrew Thompson of eXp Realty South Africa, were joined by the esteemed guest speaker, Glenn Sanford. As the Founder, Chairman, and CEO of eXp World Holdings, Sanford's visionary leadership has revolutionised the real estate industry. His innovative approach has propelled eXp Realty to new heights, making it a global powerhouse!
Looking ahead to August, we are eXcited to announce that our newly appointed CEO, Leo Pareja, will be part of the panel. Pareja’s forward-thinking leadership and innovative strategies are set to steer eXp Realty into a new era.
So, mark your calendars and join us for sessions that are both enlightening and engaging. Click to register.
eXp South Africa News
eXp Realty South Africa is Now Home to 1,200 Agents!
We have reason to celebrate because eXp Realty South Africa has reached 1,200 agents!
Our growth story is not just about numbers; it’s about the incredible community we have built since our inception in October 2020, when South Africa became the fifth international location where eXp Realty opened brokerage operations outside the United States. Our rapid growth can be attributed to several key factors that make eXp the preferred choice for real estate professionals. These include our cloud-based model, collaborative culture, professional development, and revenue share incentives, among others.
Thank you to each person who has been instrumental in our growth; together, we are shaping the future of real estate in South Africa. Here’s to reaching 1200 agents – and to the limitless growth that lies ahead!
eXp Realty South Africa Proudly Sponsors 10km Red Feather
Charity Run
The spirit of community and resilience was on full display at the Red Feather Charity Run, held at Sunridge Village in Gqeberha on Saturday, 4 May 2024. The event brought together over 700 athletes who participated in the 5km and 10km road runs, with eXp Realty South Africa being a proud sponsor of the latter.
Here’s a glimpse of the event highlights:
Among the many inspiring moments was our agent, Heinz Mueller’s participation despite his physical limitations. We are proud to have supported this incredible event; thank you to everyone who participated and made this event a success.
Unyielding Spirit: The Inspirational Journey of eXp Realty South Africa Agent Heinz Mueller
Heinz Mueller, an eXp Realty South Africa agent based in George, Western Cape, is a testament to the power of resilience and determination. Despite enduring significant challenges, including the loss of part of his left leg in a life-altering motorbike accident, Heinz refuses to let adversity define him. Instead, he embodies a spirit of perseverance that transcends limitations, in both his personal and professional pursuits.
Heinz recently participated in the 10K Red Feather Charity Run in Gqeberha, Eastern Cape, sponsored by eXp Realty South Africa. Heinz said, “The participation of our Country Leader, Andrew Thompson, inspired me to travel and take part. Additionally, knowing that eXp Realty sponsored the event, I felt compelled to show my support. Taking part in this event was not only an honour for me but an opportunity to rekindle my passion for road running. Currently focusing on trail running, this event served as a perfect stepping stone into pursuing my road running goals for this year.”
Heinz Says eXp Is Exactly What He Was Looking For Heinz's journey extends beyond running into real estate, where he has carved out a great career path. With seven years of industry experience, Heinz found his professional home at eXp Realty, a company he describes as a "blessing."
“I have moved to an agency now that does not feel like I am constantly watched and micro-managed yet provides 24/7 support. This brokerage is exactly what I was looking for, it allows me to build my own business from home. I have been with eXp for 16 months and I have loved it. I just love the revenue share system and how transparent it is. It gives me a retirement plan and that is something unique.”
Motorbike Accident Cost Him Part of His Left Leg
An avid motorbike enthusiast, Heinz always found solace and freedom on the open road. On March 12, 1982, he left Olifantsfontein, near Pretoria, and was headed to Bloemfontein aboard his 750cc Suzuki. While negotiating a sharp turn, he lost control, hit a lamppost at high speed, and was hurtled 20 metres across the road amid oncoming traffic. The impact severed his left foot and inflicted deep wounds. Recalling the
harrowing moment, Heinz reflects, “I still remember the noise of the engine of my motorbike revving next to the lamppost. Only after a yellow plastic bag was pulled over the badly scarred remains of my leg did I realise that I’d lost a foot.”
Merely 21 years old at the time of the accident, many would have resigned themselves to a life devoid of physical activity. Yet, Heinz refused to succumb to despair. He made a solemn vow that his physical disability would not dictate the course of his life. And true to his resolve, it hasn’t.
Heinz’s Strong Will Helps Him Lead a Normal Life Heinz's journey to success has been marked by resilience and adaptation. Following his accident, which left him with a prosthetic lower leg, Heinz embarked on a journey of physical and emotional recovery.
“My recovery was rapid due to bloodless surgery and being strong-willed, but all of a sudden, I had to wear a prosthesis, a device that I knew nothing about. Suddenly I realised how important it was to have the support of family and friends. Emotionally, I was devastated at first. But through determination and positive thinking, I could see my life continue as normal as possible through the eyes of my three beautiful children.”
Heinz remained undeterred in his pursuit of an active lifestyle. Transitioning from cycling to running with a prosthetic blade, he discovered newfound freedom and opportunity. “Suddenly I was freed from bondage and all the strenuous activities which previously seemed out of reach were suddenly doable.”
Heinz's journey serves as an inspiration to all who encounter him. His resilience, coupled with his unwavering determination, exemplifies the boundless potential of the human spirit. Through his words and actions, Heinz encourages others to embrace life's challenges with courage and optimism, reminding us that our greatest obstacles often pave the way for our most remarkable achievements.
Onboarding with eXp Realty South Africa
Becoming a part of the eXp team isn't a mammoth task; it's a seamless transition into a world of boundless opportunities. With our agent-centric approach, we've streamlined the onboarding process to make joining this global powerhouse as simple as possible. Here is your roadmap to kickstarting a new era in your real estate career:
Go to: https://www.expsouthafrica.co.za/join-our-team and scroll down. Click the link saying, "BECOME AN AGENT TODAY," then follow the process until you are prompted to complete your basic info in a form on the Join App.
Once approved, the ICA (eXp's "Independent Contractor Agreement") is emailed to you.
Complete and sign the ICA.
Country Leader, Andrew Thompson signs the ICA and a copy is sent back to you.
An invoice for the eXp fee is sent to you.
Pay the invoice and an "Appointment Letter" for the PPRA is then sent to you.
Move your FFC to eXp South Africa by completing the employment change online by logging into the PPRA system with your credentials: https://theppra.org.za/myffc/login OR Register as an intern on the PPRA portal: https://theppra.org.za/myffc/registration
The PPRA will then send you an invoice via email (to the email address you have listed on their portal). Pay that invoice and send the PPRA their POP (or upload the POP on the portal by logging a query).
Send that same POP (which was made to the PPRA) to the eXp Onboarding Specialist (this will have your F number on it).
You will then be made active on eXp's system, receiving emails with instructions to set up your Passport ("OKTA") and your eXp SA email address (HINT: use the same password for both!).
[**IMPORTANT**]: Immediately schedule an onboarding call with your sponsor, on which you watch the following video together: https://www.themodelexplained.co.za/welcome/
Upload your FFC on the REP system under "Profile and Docs" as soon as possible.
A massive congratulations to our very own Misty Schultz who has been crowned Mrs Western Cape 2024! Beyond her professional success, Misty is deeply committed to empowering her local community through a variety of projects, initiatives, and volunteer efforts. As eXp Realty South Africa, we are eXtremely proud of Misty for being a beacon of hope and exemplary role model.
Louise du Plessis: The Visionary Agent Behind Langebaan's Most Expensive Property Sale Ever
In the scenic coastal town of Langebaan, Western Cape, a historic property has set a new benchmark in the local real estate market. Sold by Louise du Plessis, an eXp Realty agent renowned for her expertise and dedication, this sale marks the most expensive property transaction in the area. Louise's journey, strategies, and the unique aspects of the property contribute to this remarkable achievement.
A Heritage Gem Transformed
The property, originally built in the late 1800s, was once owned by the Canestra family, who used it as a base for their fishing business in what was then a small village. "The house has remained largely untouched over the years, making it a heritage property," Louise explains. In 2018, she sold it to the current owners, who meticulously renovated it, transforming the three-bedroom cottage into a stunning six-bedroom home complete with a swimming pool. "They kept the heritage feel, making it a very unique home—one in a million," she adds. The renovations, completed in 2020, included three additional bedrooms separate from the main cottage, perfect for guests or extended family.
Finding the Perfect Buyer
The eXp Realty Advantage
Louise attributes a significant part of her success to her association with eXp Realty. "Being part of eXp has changed how I feel about real estate," she shares. The extensive tools and worldwide marketing platform provided by eXp Realty allowed her to confidently market the property globally. "eXp offers unparalleled support with staff available 24/7, and a massive network of agents worldwide, making it easier to run my own business without the overhead costs of a traditional agency," she elaborates.
A Journey of Excellence
Louise's career in real estate began in 1999 as a property photographer, eventually becoming an agent in 2000 with Seeff Properties in Constantia, Cape Town. After achieving numerous accolades, she moved to Langebaan in 2010. Following a brief sabbatical, she joined Sotheby's in Langebaan before finding her ideal fit with eXp Realty. "The eXp model allows me to be a global player with a vast network of agents for a minimal monthly fee, without administrative hassles," she explains.
Louise's client had been searching for a unique beachfront property for a long time. Despite being in Hong Kong during most of the negotiation, Louise successfully managed the process via WhatsApp. "When you have a willing and able buyer and a motivated seller, it simplifies the negotiation," she notes. The official paperwork commenced upon her return to South Africa, emphasising her preference for face-to-face interactions for significant transactions.
Overcoming Challenges
The primary challenge Louise faced was being out of the country during the initial negotiations. "WhatsApp and video calls are amazing tools, but face-to-face meetings are still the best way to go for big transactions like this," she says. Once back in South Africa, she swiftly concluded the deal, demonstrating her adeptness at overcoming obstacles and adapting to technology.
Conclusion
Strategies for Success in Luxury Real Estate
Louise believes in the importance of personal contact and delivering on promises. "Under promise and over-deliver," she advises. Her background in professional photography ensures that properties are presented in the best possible light, using modern technology like Matterport for virtual tours and drone footage to give buyers a comprehensive view of the home. "Respect the home and present it in the best possible light," she emphasises.
The Power of Networking
Networking plays a crucial role in Louise's success. She credits Steven Johnstone, who introduced her to eXp Realty, and a real estate trainer whose course on working by referral highlighted the importance of personal connections. "Most of my property sales come from referrals or personal contacts," she notes, underlining the significance of building and maintaining professional relationships.
Louise du Plessis's record-breaking property sale in Langebaan is a testament to her dedication, strategic approach, and the robust support of eXp Realty. Her journey from a property photographer to a top real estate agent is inspiring, offering valuable insights for those looking to break into the luxury property market. As Louise continues to set new standards in real estate, her story serves as a beacon of excellence and innovation in the industry.
Get to Know eXp Realty South Africa’s HR Team Member, Lauren Kiewitz
Tell us a little bit about your personal background?
I was born in East London (Eastern Cape) and grew up in Cape Town. I have lived periodically in Gqeberha (Port Elizabeth) with my father. And I have also lived in New Zealand temporarily. While Cape Town is my home base, I still hope to travel more in future.
Tell us a little bit about your career background (school, qualifications and working experience)?
During my high school years, I felt I wanted to go into social work. However, during the end of my final year of high school, I found myself wanting to be the next Master Chef!
My sister tried to convince me to go into Human Resources at that time, but I was steadfast in my decision and went ahead to study Hospitality Management, majoring in Professional Cookery (which I later changed to Food & Beverage Management).
I worked in the industry for some time before realizing that fulfilment was missing. I knew I wanted to make a positive impact in people’s lives and felt the industry was not the place for me. I love referring to the saying “If you can’t stand the heat, get out of the kitchen!”. I went on to work in various industries (Travel & Tourism, Web Design, Engineering to name a few). Eventually I found myself in HR, studied HR Management and currently working towards my Bachelor of Applied Social Science (Psychology & HR Management).
Do you have siblings? Do you have kids? Are you married)? I am the youngest of 3, with quite big age gaps between my siblings and me. My family would call me the “laat lammetjie” (an Afrikaans phrase for a child born after many years after the siblings).
On April 15th, 2023, I got married and have no kids just yet. But I count my two dogs as my children so technically, I have two fur-babies ��
What has drawn you into the HR profession? And what does your role at eXp Realty all entail?
I’ve always been passionate about people and having a positive impact on people’s lives is a personal goal of mine. I started out as an HR Intern at one of the largest designers and manufacturers of luxury linen, this only lasted roughly 3 months before being promoted. My interest in HR grew from there, with a desire to contribute to a workplace environment where employees feel engaged, motivated and valued. The opportunity to make a tangible impact on both individuals and the organization is what truly excites me about the HR field.
Currently, I am project managing our eXp Realty South Africa transition and so excited to see the success of it. Being in an HR position, one wears many hats, and my role will be instrumental in supporting the objectives of the Global People Team, ensuring alignment with our overarching goals and initiatives. This would include our compliance initiatives in South Africa (B-BBEE, Skills Development, etc.) as well as exploring and contributing to much more exciting things in the future.
How have you found working at eXp Realty so far?
I’m loving it so far! I truly enjoy working for a Global company - it gives me the opportunity to meet and interact with people from all over the world - it doesn’t get cooler than that.
You recently moved back to South Africa? What motivated the move back to South Africa?
Yes, I’ve recently moved back to South Africa from New Zealand. My husband was working in NZ and initially we thought it would be a permanent move.
However, there were a ton of factors that played a role in our decision to come back. My HR career was also on hold while there, impacting my career goals. But the turning point was when I went through a tough health scare and the healthcare system in NZ is very different compared to S.A. It was an amazing experience nonetheless - but there’s no place like home, with family.
If you could give one piece of advice to all employees to improve their work-life balance, what would it be?
I would always suggest prioritizing time for self-care and activities that bring fulfilment outside of work. Create boundaries between work and personal time. Spend time with loved ones, do something fun with friends or family and block out time to relax after hours. Take breaks during your workday, stay hydrated and nourished! Sometimes when working remotely, we forget to set boundaries, and this is extremely important to ensure our minds are refreshed and we’re energized for a new work day.
What are some of your hobbies / or what do you do with you spare time?
I love hiking with my dogs and exploring new trails in Cape Town. Trying out new restaurants and spending time with loved ones. I inherited my dad’s love for (fast) cars and part of my family always had racing cars on Killarney International Raceway. I also married a Diesel Mechanic (the irony ��) so I enjoy spending time with my husband, working on his project car. In my me-time, I read or catch up on some TV series.
The Inspiring Journey of Ferdi Abrahams Which Took Him from the Navy to eXp Realty
Ferdi Abrahams, a prominent eXp Realty agent based in Cape Town, has carved a remarkable path in the real estate industry. His story is a testament to resilience, adaptability, and an unwavering commitment to his vision. "My journey into real estate, how I got into real estate, is quite an interesting story," Ferdi shares. "I was dating a young girl back in the day, who is now my wife. Her dad owned a real estate company. I was always interested in real estate and property as a career.”
However, life initially took Ferdi in a different direction. "I then went into the military into the navy, and I spent what, 16, almost 20 years in the defence. I was a telecommunications and electronic warfare specialist in the navy," he recounts. Despite a successful naval career, the allure of real estate never faded. "Well, after many years of a successful naval career, I decided to jump out and venture into the corporate world. That's how I ended up in real estate. So, real estate was my first real job after the navy, and that's 24 years ago. And I'm still actively involved."
Ferdi's entry into the real estate industry was humble but determined. "I joined with a small firm in my town in Kuils River, Western Cape. I had a bit of training there, and I enjoyed what I was doing," he says. His talent and dedication quickly became evident. "Two years into that business in the firm, I was introduced to a brand, a big brand, which I then joined. I spent a few years with that brand."
His journey was not without its challenges. "So, I spent some time with the red, white and blue guys, the balloon guys. Progressed from being an agent to managing the office. And I then bought shares as a part, I bought into the company as a partner. That business spectacularly came to a crashing halt in 2009-2010," Ferdi reflects. Despite this setback, his entrepreneurial spirit remained unbroken. "After that, I found myself in another franchise environment which I bought into. Successfully drove that business for about six, seven years. And then I decided to go on my own as Prosperity Real Estate."
Ferdi's venture into Prosperity Real Estate marked a new chapter. "Grew a team of agents in Kuils River under the Prosperity banner," he recalls. The onset of the COVID-19 pandemic in 2019, however, prompted him to rethink his
approach. "Coming out of lockdown, I looked at the eXp model that Steven Johnston presented at the time. I was fascinated and I was really interested. I made a split decision that this is really the future of real estate, and it looks like, at that time it looked like a model that I could really work with and build my future on."
Ferdi's transition to eXp Realty was seamless and successful. "I started with the agents that were in my team, my Prosperity Real Estate team at the time. All of them joined me at eXp when I transitioned. I shut my business down. They all joined me. I had five agents when I began the new chapter of Prosperity Real Estate powered by eXp," he shares.
His dedication and leadership paid off. "I started my eXp journey with five agents in my first year. And that first year has, over the last three years, I've only actually introduced 16 frontline agents, FLAs in my business. My team under my Revenue Organisation has grown now to 200 agents in the 3 years period," Ferdi proudly states.
Ferdi attributes much of his success to the innovative model of eXp Realty. "The big thing for me was the revenue share model and the agent equity share program where I got given shares in the company, becoming an owner part of the business as a shareholder," he explains. "The fact that I could operate anywhere on the planet, I could potentially grow my business to all corners of the world where eXp has a footprint, that really attracted me."
Beyond professional growth, eXp Realty has offered Ferdi a sense of security and peace of mind. "I sleep much better at night knowing I could transfer my revenue share earnings to my loved ones if something ever had to happen to me. So, the eXp model gives you that peace of mind. You can build a phenomenal business on the eXp platform and know that my offspring are cared for," he shares.
Ferdi's story is an inspiring testament to the power of perseverance, vision, and adaptability. From the disciplined ranks of the navy to the dynamic world of real estate, he has continuously evolved, embracing opportunities and overcoming challenges. "EXP offers us a retirement plan. You've got shares in the company, you can build a revenue share team and carry on with life, making sure that your financial future is secure," Ferdi concludes. His journey exemplifies the transformative power of embracing change and seizing new opportunities.
Deenie Martin: Setting Records and Building Communities with Heart in the Garden Route
South Africa’s Deenie Martin is passionate about real estate, which shows in her commitment to her clients and community. This passion and dedication resulted in Deenie becoming the fastest-capping eXp Realty South Africa agent, achieving this feat in 19 days. In that time, Deenie secured five property sales worth R14 930 000,00 ($811,702.15 in U.S. dollars).
‘eXp Allows Us to Innovate’ Hailing from the picturesque city of George in the Garden Route, Deenie embodies the spirit of her surroundings.
“Ten years ago, a friend introduced me to a principal at RE/MAX, and that’s where my journey started,” Deenie reflects. “RE/MAX provided a solid foundation, but it was eXp Realty that gave me the freedom to truly express myself as an agent.”
As the co-founder of Oceaniqua Realty Powered by eXp, Deenie found the perfect platform to unleash her potential.
“eXp offers us agents unparalleled support and freedom,” she explains. “It allows us to be ourselves and innovate in ways that benefit our clients.”
Deenie attributes her record-breaking achievement to a profound belief in divine providence. “My husband taught me that God is my provider,” she shares. “Instead of chasing commissions, I focus on enjoying what I do and having faith that everything will fall into place.”
Deenie Shares Her Mindset and Marketing Approach
Deenie emphasizes that aspiring agents should “consistently perfect the basics. Train rigorously, stay focused on your goals, and never lose sight of why you’re in this business.”
Deenie’s strategic approach extends to her marketing efforts, leveraging social media and personal connections to cultivate lasting relationships with clients.
“Social media is powerful, but genuine connections are invaluable,” she asserts. “I treat my clients as friends, and I’m genuinely interested in their well-being.”
eXp’s Collaborative Mindset Beneficial for All
In a competitive industry, Deenie advocates for collaboration over competition.
“We should collaborate because ultimately, our goal is to serve our clients,” she explains. “By working together, we can ensure that every client finds their perfect home.”
While Deenie’s passion lies in residential properties, she’s recently discovered a love for commercial and agricultural real estate.
“Real estate should be enjoyable,” she insists. “It’s about finding joy in every aspect of the process, from connecting with clients to exploring new properties.”
Despite the challenges of the industry, Deenie remains steadfast in her commitment to excellence and authenticity.
“Real estate isn’t easy, but it’s incredibly rewarding,” she acknowledges. “If this is your calling, give it your all, and don’t forget to have fun along the way.”
Industry News
Why Checking the Age of a Property Before Buying is Essential
Understanding the age of a property is a critical aspect often overlooked by potential buyers. In South Africa, strict legislation protects heritage buildings, with regulations extending to properties over 60 years old.
According to the "60-year rule" in Section 34 of the National Heritage Resources Act, any alteration or demolition of a structure older than 60 years requires a permit from the relevant provincial heritage authority. Without this permit, architectural plans cannot receive municipal approval, significantly delaying and potentially adding expenses to the renovation process.
Buying a property without approved plans poses risks, as the absence of legal documentation could result in fines or remediation costs if illegal construction work is discovered. Furthermore, properties without existing plans require 'as-built' plans to be drafted and approved before renovation plans can progress, further prolonging the process.
Even with approved plans, Heritage approval is not guaranteed. Properties with historic or cultural significance may face restrictions on alterations. Staying true to the original character of the home and its neighbourhood can mitigate these challenges, but significant renovations may encounter obstacles.
Given these complexities, it is advisable for buyers to ensure that they check a property’s age and approved plans during their standard purchasing process, particularly if renovations are planned.
The National Heritage Resources Act 25 of 1999 aims to establish an integrated system for managing national heritage resources, empowering civil society to conserve these resources for future generations.
Understanding the Tiny Home Trend
Ever wondered why tiny homes are becoming so popular?
With the rising cost of living and a growing interest in sustainable living, tiny homes are now quite an attractive option. They are affordable and uniquely customisable, making them ideal for those looking to simplify their lives without compromising on comfort or personal preferences.Tiny homes also encourage a simplified lifestyle, and the minimalist approach can lead to a more focused and intentional way of living.
Another benefit of tiny homes is the freedom they offer, providing the fleXibility to move and eXplore new locations as you wish. This mobility is most appealing to those with a sense of adventure, as it allows them to eXperience different landscapes and communities when eXploring stunning South African landscapes!
Boosting Your Property Value Before Selling
Ensuring that your property stands out in a competitive market and is sold at its optimal price is a priority for any seller. So, the focus should be on maximising its value. Here are some tips to get your home ready for a quick, seamless, and potentially profitable sale:
1. First Impressions Last, Neaten Up the Outside
You only get one chance to make a first impression, and when it comes to selling your home, that first impression is made before potential buyers even step through the door! A tidy and attractive eXterior can significantly influence a potential buyer’s perception of your home. Little things like maintaining the lawn and repainting your front door can give your home a fresh and modern look.
2. Invest in a Backup Power Solution
In South Africa, especially, having an uninterrupted or backup power supply is a significant selling point. Investing in a backup power solution, such as a generator, can add considerable value to your property. A reliable backup power system reassures potential buyers that they won’t be left in the dark, presenting your home as the more appealing option.
3. Make Modest Modifications
We all know that major renovations can be costly and time-consuming, which is why modest modifications can be a better alternative for providing an eXcellent return on investment. Consider things such as updating some of your kitchen appliances, adding a fresh coat of paint to the interior, or incorporating modern elements into the main areas of your home. Focus on the kitchen, living areas, and bathrooms – which is where buyers tend to focus their attention the most!
4. Maximise Storage Space
For many homebuyers, not having sufficient storage can be a dealbreaker, which is why you should try to maximise it as best as possible. Before viewings, start by decluttering and organising your eXisting storage spaces to make them appear larger and more functional. If possible, add shelves and closet organisers to highlight your home’s storage potential.
In a nutshell, it's all about maximising your property’s value! Focusing on maintenance, visual appeal, and ensuring that it’s move-in ready will not only attract serious buyers but also speed up the sale process. By implementing these tips, you can significantly enhance your property’s appeal and increase its market value.
Pre-purchase Checklist for First-time Home Buyers
Buying a home is a significant milestone, and being fully prepared can make the process smoother and more enjoyable. Here are some tips to set you up for success and ensure you don’t walk into homeownership blindly.
1 Commit to a Purchase Price You Can Afford
A good starting point is to evaluate your financial stability. Make sure you can commit to the purchase price, and you should consider more than just the mortgage payments. Also take into account levies, potential fluctuations in interest rates, and uneXpected eXpenses.
2. Set Funds Aside for a Deposit and Transfer Costs
One of the key steps in buying a home is setting funds aside for a deposit and transfer costs, which are typically a percentage of the property's purchase price. Transfer costs include legal fees, stamp duty, and other associated eXpenses.
3. Prepare All the Necessary Documentation
To make the process more seamless, prepare by gathering all the necessary documents in advance. These include proof of income, identification documents, and bank statements, among others. Your agent can advise on this.
4. Consider Whether the Property Will Meet Your Future Needs
Here, you need to think about your long-term plans, such as starting a family, working from home, or possibly even accommodating other family members or friends. It is advisable to evaluate the property's potential to adapt to your changing lifestyle to determine whether purchasing that property would be a wise investment.
5. Do a Thorough Inspection Before Purchase
A thorough inspection before purchase is non-negotiable! Although you can conduct the inspection yourself, hiring a professional inspector can uncover issues that might not be immediately visible. This includes checking the structural integrity, electrical systems, and plumbing. An inspection report provides a clear understanding of the property's condition and can help you negotiate a better price.
