eXp South Africa - Issue 5 by eXpSouthAfrica

Issue 5 - 2024 eXp Realty South Africa

Welcome To Our World

Introduction From the Editor

Welcome to another exhilarating edition of our quarterly newsletter! As we dive into 2024, the energy and enthusiasm within our agent community are truly electrifying. With just three months behind us, we've already witnessed a cascade of achievements and milestones that make us immensely proud.

Our journey began with a vibrant transition into our refreshed logo and updated branding guidelines, solidifying our identity for a stronger, more cohesive presence in the market. We also celebrated remarkable achievements, such as Lizna Nel, Deenie Martin, and Lydia Vorster hitting the prestigious triple CAP status. Not to forget, the launch of eXp iBid, a groundbreaking platform spearheaded by Gawie Rossouw and the PropNow team, promises to revolutionise our approach to real estate bidding.

February marked an extraordinary milestone with the 2024 BUILD AFRICA Conference in Cape Town. Led by Steven Johnstone and his exceptional team, this event showcased our commitment to excellence with an impressive lineup of speakers, including our very own Founder and CEO, Glenn Sanford. Amid the excitement, we proudly announced Johan Nolan as the first South African to achieve ICON Status, a testament to his unwavering dedication and outstanding performance.

The excitement didn't stop there! March brought its own set of triumphs, including the conclusion of the Race To Victoria Falls campaign, culminating in David Beattie's fortunate win. Additionally, we embarked on a pioneering venture with the launch of our global radio channel, featuring Stuart Hyslop as one of our esteemed South African presenters.

But wait, there's more! Introducing the Let's Talk! Series, a dynamic Zoom mini-talk show hosted by our Marketing Co-ordinator, Siya Ndzimande and me. This platform promises to delve into many topics, offering valuable insights and expertise to fuel your success.

Having already hosted distinguished guests like South Africa's first ICON agent, Johan Nolan, and our EMEIA Regional Growth Director, Ilaria Profumi, we're now gearing up to welcome a few more notable figures in the coming weeks. These include India's Country Leader, Shashank Vashishtha; Dubai's Country Leader, Dounia Fadi; Tina Caul from eXp Luxury; and our CEO & Founder, Glenn Sanford.

Thank you for your commitment to excellence. Together, we're shaping the future of real estate and making history every step of the way.

What a quarter it's been, and the exciting adventure continues! We hope you will enjoy this newsletter as we further look at our global and local accomplishments over this quarter.

Warm regards,

Andrew Thompson Country Leader, eXp Realty South Africa

eXp World HoldingseXp Realty News

eXp World Holdings Reports Q4 and Full-Year 2023 Results

eXp World Holdings Inc. has announced the financial results for the fourth quarter and fiscal year ended 31 December 2023.

Fourth Quarter and Full-Year 2023 Consolidated Financial Highlights as Compared to the Same Year-Ago Period:

• Full-year revenue decreased (7)% to $4.3 billion in 2023 with revenue of $983 million in the fourth quarter of 2023.

• Full-year gross profit decreased (12)% to $324.1 million in 2023 with gross profit of $70.9 million in the fourth quarter of 2023.

• Full-year net loss of $(9.0) million in 2023 with net loss of $9.2 million impairment charge for goodwill and amortizable intangible assets related to the Virbela segment.

• Full-year loss per diluted share of $(0.06) in 2023 with a loss per diluted share of $(0.14) in the fourth quarter of 2023.

• Full-year adjusted EBITDA (a non-GAAP financial measure) of $57.5 million in 2023. Adjusted EBITDA was $0.5 million in the fourth quarter of 2023.

• As of 31 December 2023, cash and cash equivalents totalled $126.9 million, compared to $121.6 million as of 31 December 2022

• Distributed $189.1 million to shareholders in fiscal 2023, including approximately $160.6 million of common stock repurchases and $28.5 million of cash dividends.

• The Company paid a cash dividend for the fourth quarter of 2023 of $0.05 per share of common stock on 30 November 2023. On 14 February 2024, the Company’s Board of Directors declared a cash dividend of $0.05 per share of common stock

for the first quarter of 2024, expected to be paid on 29 March 2024 to stockholders of record on 8 March 2024.

“eXp delivered solid revenue in the fourth quarter, despite continued weakness in the United States residential real estate market, thanks to our global base of highly productive agents,” said Glenn Sanford, Founder, Chairman and CEO of eXp World Holdings. “Our agent-centric model and value proposition, scale, and superior efficiency enable us to invest in the success of our agents.

“In fact, agent loyalty, as measured by agent Net Promoter Score (aNPS), reached record levels for both the fourth quarter and full-year 2023. We will continue to iterate on the agent value proposition through our ongoing commitment to agent-centric innovation, with a particular focus on enhancing agent support and reducing time spent on non-revenue-generating, repetitive tasks. From onboarding, to support, to real-time payments and more, we are utilising next-generation technologies such as artificial intelligence to streamline core business processes to enable our agents to reach their goals faster than ever before.”

“Despite a challenged real estate market, we continued to gain market share during the fourth quarter of 2023 and maintained positive Adjusted EBITDA1,” said Kent Cheng, Principal Financial Officer of eXp World Holdings. “And while our decision to offboard a significant number of unproductive agents during the fourth quarter resulted in a decrease in our agent count quarter-over-quarter, the retention of our most productive agent cohorts remained excellent, and our fourth quarter revenue increased 5% year-over-year. In the fourth quarter, we also took several strategic actions to improve our profitability, with expected benefits to revenue and operating expenses in 2024. Our automation and other cost savings initiatives, combined with recent revenue enhancements, represent a potential $20 million annualised benefit to our future operating results. We will remain vigilant on costs and focused on increasing our operational flexibility in light of current uncertainties in the industry.

“Looking ahead, we plan to fund continued investments in agent productivity through ongoing efficiency initiatives. I am confident that eXp will emerge from the current market downturn in a strong position to capitalise on future market growth opportunities and deliver accelerated growth as the residential real estate market recovers.”

Fourth Quarter and Full-Year 2023 Operational Highlights as Compared to the Same Year-Ago Period:

• eXp ended the fourth quarter of 2023 with a global agent Net Promoter Score of 77, up from 73 a year ago. aNPS is a measure of agent satisfaction and an important key performance indicator (KPI) given the Company’s intense focus on improving the agent experience.

• Agents and brokers on the eXp Realty platform increased 2% year-over-year to 87,515 as of 31 December 2023.

• Transactions decreased 3% to 494,408 in 2023 and increased 6% year-over-year to 115,424 in the fourth quarter of 2023.

• Transaction volume decreased 10% to $169.2 billion in 2023 and increased 3% year-over-year to $38.9 billion in the fourth quarter of 2023.

• Launched eXp Luxury™ in Australia, New Zealand, South Africa and the United Kingdom on 7 December 2023.

• Announced eXp Luxury™ soared past 1,100 members, fuelling global growth, on 21 November 2023.

Top Talent Around the World

eXp World Holdings, Inc. welcomed numerous top-producing teams and agents to its expanding network over the last quarter of 2023 continuing into the new year.

“This year is shaping up to be an exciting year for eXp Realty as we continue to experience strong growth,” said Michael Valdes, Chief Growth Officer at eXp Realty. “Our commitment to combining cutting-edge technology with a deep understanding of the real estate industry allows us to provide the best agent value proposition in the industry with unparalleled support and opportunities for our agents. We remain steadfast in our goal of helping our agents reach new heights and build their businesses for the future.”

Fourth Quarter 2023

• Joel HusVar closed his Buffalo, New York independent HusVar Real Estate Group and moved his 26 agents and three staff. In 2022, his team closed on $66 million in sales on 265 units.

• The Bean Group, one of the largest brokerages in New England with hundreds of agents across Maine, Massachusetts, New Hampshire and Vermont, has an annual sales volume that exceeds $1.5 billion. They joined through eXp’s innovative Boost program.

• Justin Havre moved his 60-agent Justin Havre Real Estate Team, Canada’s #1 RE/MAX team for five straight years, to eXp Realty. They totalled $4 billion in sales volume since 2016. Headquartered in Calgary, 18 staff members also joined.

• Luis Ruiz moved his 53-agent Luis Andrew Group from Onepath to eXp. His team compiled $101 million in closed sales in 2022 in the Miami-Dade region of Florida.

• James Nellis brought his 11-agent James Nellis Group, which is based in the DMV (District of Columbia, Maryland and Virginia). His team averages 200 units and $100 million in sales volume each year.

• Troy Palmquist moved his 30-agent DOORA Properties team and was also named Director of Growth for California.

• Virginia Corbett moved her 16-agent, five-person staff Virginia Corbett Home Team from RE/MAX. Based in New York’s Hudson Valley, the team closed on $70 million on 222 units in 2022.

• Michelle Mojica closed her Mojica & Associates independent brokerage in Phoenix and she and her 25 agents joined eXp. She closed on $126 million in sales in 2022 on 288 transactions.

• David Tsen and Sunny Ahuja, co-founders of Oracle Property Group are primarily based out of the Fraser Valley and the Greater Vancouver Area in British Columbia. They left Sutton Group-West Coast Realty with their eight agents and three staff and joined eXp. Their team completed $90 million (CAN) in sales on 125 transactions in 2022.

• Courtney Twiss, founder of her independent brokerage Twiss Realty, in Mariposa, California, moved her team of 20 agents. In 2023, the Twiss team closed on $127 million in sales.

• Jason Spartalis and Marc Papineau of Ottawa’s Team Today, moved four agents and four staff. They were on track to close more than $52 million on 143 units for 2023.

• Chris Knighton, the founder and team leader for Knighton Real Estate Advisors, of Grimsby, Ontario, brought his mega team to eXp Realty Canada. With 14 agents and four full-time staff members, Knighton closed on $150,000,000 in sales on 180 transactions.

• Sophie Patera of Montreal, Quebec moved her 12-agent independent brokerage to eXp. The high-producing Quebec broker closed on $38 million (CAD) in sales in 2023.

January 2024

• Ronnie and Cathy Matthews Group and Mike Seder Group from Texas brought their expansive teams to eXp in January. These teams, who were friendly competitors at RE/MAX, have built strong trust and friendship over the years. Ally and Mike Seder achieved a remarkable $259,586,770 in volume on 315 transactions in 2022, while Ronnie and Cathy Matthews sold over 15,000 homes with a total value exceeding $4 billion.

• The Hub Real Estate and its founders, Shaun Dolon and Philip Hofeling, moved their 32-agent Colorado team to eXp Realty. Their thriving brokerage in the greater Fort Collins area closed $110 million in sales on 240 units in 2023.

• Jeanette Denney, a 20-year real estate veteran known for her exceptional service and impressive track record, has joined eXp Realty in Central New York. In 2023, her team closed on $5 million in sales on 35 units.

• Angela Westerik, founder of Community Real Estate Group in London, Ontario, has also joined. With her extensive knowledge and experience in the local market, she will contribute to the company’s growing presence in Canada. Between 2019 and 2023, Angela closed $136,646,767 in volume on 238 transactions.

• Emily Barry and her renowned Barry Team have joined eXp Realty Canada. With an established presence as the top Niagara-based team for almost eight years, Barry’s team is known for providing top-tier service and achieving outstanding results. In 2023 alone, the Barry Team closed $80 million (CAD) on 160 units.

• Commercial Agent Jerry Anderson, CCIM, a heavyweight in the commercial real estate sector, marks a significant shift in the industry as he brings a wealth of commercial real estate expertise and extensive leadership experience. Based in Central Florida, he will work alongside eXp Commercial influential leaders, Jeff Finn and Fred Schmidt, to shape the division as corporate advisors.

These recent additions and achievements highlight eXp Realty’s commitment to attracting top talent and providing a supportive and innovative platform for its agents to thrive. As the company continues to expand globally, its dedication to delivering the best possible experience for agents and clients remains unwavering.

eXp Realty on Glassdoor’s “Best Places to Work” List for Seventh Consecutive Year

eXp World Holdings, Inc. announced that eXp Realty has made Glassdoor’s “Best Places to Work” list for the seventh straight year in the U.S., ranking No. 22 out of 100 in the U.S. Large Company list.

“Our unwavering commitment to enhancing eXp’s agent-centric value proposition has attracted the finest professionals in the industry,” said Glenn Sanford. “I take immense pride in our ability to iterate and build on that commitment. By prioritising the feedback and satisfaction of our agents and their customers, we have earned their approval and maintained our position as an exceptional workplace,” Sanford added.

“Our agents, brokers and employees are crucial to eXp’s success, and we continuously act on feedback to enhance their experience,” said Mike Vein, eXp’s EVP of People. “Our growth speaks to the award-winning and future-focused culture we’ve built together. I’m grateful to everyone at eXp and proud of our seventh consecutive Glassdoor recognition.”

Glassdoor’s Employees’ Choice Award is in its 16th year and is based solely on the input of company employees who submit anonymous feedback on Glassdoor by completing a company review about their job, work environment, and employer.

Employees are asked to rate their satisfaction with the company overall and provide ratings for nine workplace factors, including career opportunities, compensation and benefits, culture and values, senior management, diversity and inclusion, and work/life balance. Employers considered for the large list must have received at least 75 ratings for each of the nine workplace attributes, which are taken into account as part of the awards algorithm.

eXp Realty and Citrus Closing Group Join

Forces

to Deliver Local Title Services in Greater

Orlando, Florida

Area

eXp Realty has announced a strategic affiliated title business with Citrus Closing Group to bring local title expertise and personalised service to its agents in Orlando, Florida, and the surrounding areas.

“The Orlando market is experiencing significant activity from both local and international buyers, thanks to its thriving economy and diverse culture,” stated Leo Pareja, Chief Strategy Officer. “Orlando and its surrounding areas provide a wide range of housing options, making collaborations like this incredibly valuable for real estate professionals, as well as buyers and sellers. Our objective is to ensure a transparent and seamless closing experience that benefits all parties involved.”

Citrus Closing Group is a frontrunner in title expertise, earning recognition from the region’s top Realtors thanks to their focus on communication, customer service, and attention to detail.

“We are thrilled about the prospects of our exciting new partnership with eXp Realty, anticipating a wealth of opportunities and collaborative success ahead,” said Jeremy Webb, President of Citrus Closing Group. “This partnership is poised to enhance agents’ title experiences through streamlined processes, exceptional service, and unparalleled mobility.”

“KGCI Real Estate on Air is a complete game-changer for our industry,” said Bryon Ellington, Chief Learning Officer, eXp Realty. “It’s a one-stop-shop for all the knowledge and expertise agents need to thrive in their day-to-day operations. Through this partnership, we envision KGCI Real Estate on Air becoming an indispensable resource for agents everywhere, empowering them to develop their skills and stay at the forefront of an ever-changing industry.”

KGCI Real Estate on Air features daily broadcasting and is designed to build community and provide guidance to agents. The channel will also keep agents updated on the latest industry trends and opportunities, ensuring they stay ahead of the curve.

According to statistica.com, internet radio’s reach in the U.S. has increased sharply in the last decade with 75% of the population having listened to online radio in December 2023, compared to 45% in the previous 10 years. Weekly online radio consumption among U.S. listeners has also increased, growing from 12% in 2007 to 70% in 2023.

One of the most exciting aspects of KGCI Real Estate on Air is the inclusion of agent voices from around the globe. eXp Realty agents, Knolly Williams, Hollie Kitchens, Ricky Carruth and Carrie Soave, are just a few top-producing agents who will be sharing their insights and experiences on the channel.

“As an agent, I can tell you KGCI Real Estate on Air is exactly what we need in the real estate industry today,” said Monica Weakley, another top-performing agent at eXp Realty and member of eXp World Holdings Board of Directors. “In today’s landscape, agents face a constant influx of change. This station seeks to foster an open dialogue that promotes continuous learning and thoughtful discussions, ultimately fuelling professional growth. Together, we will embark on a journey to elevate the real estate industry, and I am thrilled to be a part of that.”

Tune in to KGCI Real Estate on Air daily at realestateonair.fm.

“We’re excited to see the impact this radio channel will have on our agents and the real estate industry as a whole,” said Ellington. “Let’s tune in and start this new chapter together!”

eXp Realty Captures Top Honours in 5 RealTrends 500 Categories

In 2023, eXp Realty guided more people into homes than any other brokerage in the US. RealTrends 500 released its rankings featuring eXp Realty at the top for another year running.

No. 1:

Transaction Sides

• 5 Year Top Mover by Volume

• 5 Year Top Mover by Sides

• Best Brokerages

• Public Independent

No. 3:

Volume

• Billionaires’ Club

This incredible recognition is a celebration of everything that makes eXp Realty unique and unreplicatable – you.

We believe in empowering our agents with the best tools and support, making it easier for you to focus on what you do best — growing your business and honing your skills. Our commitment to your success is unwavering, and we're here to ensure you have everything you need to thrive in the competitive real estate landscape.

As we look to the future, our achievements are not just measured by where we stand in industry rankings. Our true success is reflected in the positive impact we have on each other's lives and on those we serve. Regardless of where we rank in the future, our focus remains to nurture an environment where every agent can succeed and feel valued.

Thank you for choosing eXp Realty and for your role in our shared success. Together, we're not just reaching milestones; we're shaping the future of real estate.

The Inaugural International is Finally Here!

The countdown to the inaugural eXpcon International has officially begun! This informative event will be hosted at the Intercontinental Lisbon Hotel in Lisbon, Portugal, from 4 to 6 June 2024. Like in previous iterations of the famed eXpcon, this is an amazing opportunity to learn, network, and grow in the world of real estate.

At the event, you can expect a multitude of eXp agents to share industry knowledge and know-how with you. This will enable you to network with key influencers and share your ideas to build your real estate business with key insights and thought leadership.

eXp Global Events eXp South Africa News

Introducing eXp Realty’s New Logo and Brand Rollout

eXp Realty is entering a new era with the introduction of a new logo and brand elements. As eXp Realty South Africa’s Marketing Coordinator, Siya Ndzimande aptly puts it, this refreshing transition marks more than just a change in aesthetics, it also signifies a commitment to consistency and excellence in branding. He commented, “We are thrilled to see the successful rollout of our revised branding elements this year. As discussed in our Agent Matters updates and weekly marketing training sessions, we have officially transitioned to our refreshed logo and updated branding guidelines.

“Why the change? Consistency in branding is paramount. It not only builds a strong and recognisable identity but also fosters trust and credibility among our audience. By maintaining uniformity across all our communications, we enhance brand recall and establish a cohesive brand presence. This, in turn, enables us to better connect with our customers, cultivate loyalty, and stand out in the competitive market.

“At eXp Realty, we understand the importance of a professional appearance and friendly service. That's why we're committed to ensuring that our brand reflects these values. We believe that this transition will further elevate our brand's image and contribute to our continued success.

“As we move forward, we rely on your continued support and collaboration to ensure that the eXp Realty brand remains synonymous with professionalism and excellence in South Africa. Thank you for your dedication and commitment to our shared vision. Here's to a bright future ahead!”

Trailblazer, Lizna Nel Pioneers

Success in South African Real Estate

In the bustling world of South African real estate, where success is often measured by achievement and accolades, one name stands out in the crowd — Lizna Nel. As a residential real estate sales property practitioner and a three-time CAP (Commission Award Programme) agent for eXp Realty South Africa, Lizna has not only made waves in the industry but has also carved a unique path to success, becoming the first eXp Realty South Africa agent to achieve triple CAP status.

With her starting anniversary date being 1 November, Lizna hit CAP status in just 50 days, securing an impressive 96% commission for the next 315 days. She successfully sold 34 properties last year, totalling about $3,625,407 (USD) or the equivalent of R68 423 000 (rand), matching her sales figure from 2022.

Lizna’s Business Acumen Forged While Working on Cruise Ships

Lizna’s journey to real estate stardom is as unique as her accomplishments. After completing her studies in cosmetology in South Africa and business management in London, she embarked on a six-year adventure working on cruise liners, eventually becoming a spa manager. This experience not only honed her people skills but also exposed her to diverse cultures and nationalities, a valuable asset in the world of real estate.

Lizna eventually transitioned to a role in HR and recruitment for a US and UK-based company, focusing on South Africa, Namibia, and Mauritius. “This was something I really enjoyed because it was a job that made a difference in someone’s life,” reflected Lizna.

In 2007, she took on a new challenge by starting her own college, BN Academy in Bellville, Cape Town, growing it from a modest 20 students to an impressive annual intake of 300 students. However, it was her grandfather’s advice that ultimately led her to the world of real estate.

“Real estate was always something I was interested in. My grandpa said if you come from the ships with your dollars, you have to make that money work for you by investing in property in South Africa, and that’s what I did,” shared Lizna.

Full Steam Ahead: Lizna Focuses on Real Estate

In 2018, Lizna decided to fully embrace her passion for real

estate as a property practitioner. Her business-minded approach, coupled with her experience running her own college, made her a problem solver – a key ingredient for success in the real estate industry.

However, it was her move to eXp Realty in October 2021 that truly catapulted Lizna to new heights. Enticed by the model and culture of eXp Realty, Lizna initially hesitated, dreaming of starting her own real estate business. It was a chance encounter with fellow eXp Realty agents, Lydia and Andre Vorster, that changed her trajectory. Lydia’s invitation to learn more about eXp Realty sparked Lizna’s curiosity.

“I am an analytical person and was convinced that I would find the flaws in eXp Realty,” says Lizna.

But fate had other plans. Lizna experienced a sudden health setback, suffering two herniated discs in her neck. During her recovery, she dove deep into researching eXp Realty. Contrary to her expectations, the more she delved into the company, the more convinced she became that this was a game-changer for the real estate industry.

“Moving to eXp was one of the best decisions I have ever made. I knew it was going to be a great adventure but never expected it to be this good,” expressed Lizna.

She now leads her own team within eXp Realty, known as Realtors South Africa Powered by eXp, with a network of 150 agents across South Africa.

eXp’s Agent-Centric Mission Impresses Lizna

Lizna’s goal is to expand the Realtors South Africa Powered by eXp brand across the country. She emphasises the importance of empowering and equipping her team with operational and marketing support, allowing them to focus on networking with communities and selling houses.

“Having joined eXp, what stands out to me the most is how agent-centric the company is. The support we get from the staff is unbelievable, and our Country Leader is always willing to listen to us to see how he can better support our endeavours,” shared Lizna.

For Lizna, residential real estate is more than just transactions; it’s about the personal connections and trust formed when dealing with clients’ homes.

“Every client’s home is a personal and private space, and we are in a privileged position to be allowed inside the client’s home and to be trusted with it,” she said.

As Lizna continues to make strides in the South African real estate landscape, her journey serves as an inspiration to aspiring agents and a testament to the transformative power of seizing opportunities, even in the face of unexpected challenges.

Johan Nolan: Making History as the first South African to be Awarded ICON Status

In the small fishing coastal town of Velddrif, nestled within the picturesque landscapes of the Bergrivier Local Municipality in the Western Cape, Johan Nolan has been making waves in the South African real estate industry. A seasoned property practitioner with a remarkable track record, Johan recently etched his name in history by becoming the first South African to achieve ICON Status with eXp Realty, a feat that underscores his dedication and expertise in the field.

“I did not expect to be the first South African ICON Status Agent, it just happened and took me by surprise,” said Johan. “I have a huge pipeline and I have been working extremely hard the last six months to build a strong pipeline. I am literally working seven days a week. I am happy that my hard work is paying off.”

Johan's journey in real estate commenced nearly two decades ago, when he embarked on his career with Remax in 2002. Over the years, he honed his skills and built a solid reputation for himself, primarily focusing on residential property sales. While his earlier years were spent operating in the bustling tourist city of Cape Town, Johan's heart led him to the tranquil surroundings of Velddrif, where he has been a vital asset to the local real estate market for the past year since joining eXp Realty.

Since his transition to eXp Realty, Johan's impact has been nothing short of extraordinary. With an unwavering commitment to excellence, he has facilitated the sale of 39 properties since May last year, with projections indicating an impressive tally of 100 properties sold by his one-year anniversary with the company. His stellar performance has garnered him a gross commission exceeding R1.3 million (rand), a testament to his proficiency in navigating the intricacies of the South African real estate landscape.

Johan shared, “I have set myself a goal to do at least one deal a week. I have been consistently doing that for a while, some weeks more than one deal. It takes a lot of hard work and support from the people around you. So far, I have one transaction a week and that will continue to be my goal.”

Reflecting on his journey, Johan humbly acknowledged the support of his loved ones and the invaluable assistance provided by his wife and two kids, who are also part of the eXp Realty community. Their unwavering support has allowed Johan to focus wholeheartedly on his passion for building relationships, meeting clients, and closing deals. Furthermore, Johan extends his gratitude to Zaani Vermeulen and the eXp Realty South Africa Transactions team for their exemplary support, enabling him to streamline administrative tasks and concentrate on his forte, which is listing aggressively and controlling market stock.

A hallmark of Johan's approach lies in his dedication to understanding his clients' needs intimately. Through meticulous interviews and in-depth analyses, he ensures a tailored experience that resonates with each individual. Johan goes the extra mile by accompanying clients on neighbourhood road trips, introducing them to various areas, and meticulously listening to their feedback—a strategy that has proven to be instrumental in his success.

Central to Johan's decision to join eXp Realty was the allure of entrepreneurship without the burdensome overheads and regulatory constraints typically associated with traditional real estate ventures. “I joined eXp Realty because I always wanted to own my own business. I always dreamed of having my own real estate business but the requirements and running costs needed were a massive hurdle. There are just too many legal and regulatory requirements that one has to abide by. So, when the eXp Model was explained to me, it was a no-brainer for me to join. I had to have faith and make the leap to eXp Realty immediately, and it has turned out to be a great move. It’s quite incredible, since I joined eXp Realty in May last year, I have only paid the company 4% in commissions. I am in awe of how much eXp has given me both financially and through their support. The comradery within eXp is special, it feels like you are part of one big family.”

Johan emphasised the transformative impact of eXp Realty's culture and transparency, citing the willingness of top agents to share insights and support colleagues. He recalls with admiration how industry stalwarts like Brent Gove extended their expertise to South African agents at the recent BUILD AFRICA Conference, exemplifying the inclusive ethos that permeates the eXp community. Johan envisions eXp Realty as a catalyst for revolutionising the South African real estate industry, driven by a spirit of collaboration and openness.

“eXp may be not a fit for everybody but it is undoubtedly very hard to resist. The reasons to join far outweigh the reasons not to join,” concluded Johan.

Get to Know the Minds Behind the Scenes - eXp Realty South Africa’s Transactions Team

eXp Realty South Africa is a hub of activity, with a team of experienced personnel handling the day-to-day operations and negotiations, navigating complexities, and driving transactions to success. But who are the masterminds behind these deals? To shed light on the personalities shaping our transactions team, we posed some questions to each member to find out more about them and their role within the most agent-centric brokerage.

Zaani Vermeulen

1. Tell us a bit about your career experience leading up to this point. My professional journey began as an administrative clerk at an electrical engineering company. I eventually transitioned into a role within the human resources department. In 2014, I took a bold step forward by starting the position of office manager at a construction company. This experience broadened my skill set and deepened my understanding of operational management. Two years later, in 2016, I embarked on the entrepreneurial path, establishing my own venture in screen printing and corporate gifting. This not only allowed me to exercise my creativity but also sharpened my abilities in business development and client relations. I also completed my studies in marketing in 2019. The onset of the COVID-19 pandemic presented both challenges and opportunities. In 2020, I transitioned into real estate, specialising as a transaction specialist and, additionally, I undertook my formal qualification as a conveyance secretary. In addition to my roles as a transaction specialist and conveyancer secretary, I also served as a bond originator, helping to make people's dreams come true by securing bonds for them.

2. Why do you enjoy doing what you do? (Being part of the transactions team)

I get my satisfaction/enjoyment from my work by witnessing the joy and fulfilment in people when I can assist them in achieving their goals. I also love to help and introduce our agents to new concepts and systems that can better their lives.

3. To you personally, what stands out the most about the eXp Realty brand?

One of the most striking aspects of the eXp Realty brand, from my point of view, is its commitment to transparency and agent-centric approach. I admire eXp for its unwavering dedication to supporting the agents and constantly seeking ways to improve their lives.

4. What are some of the advantages that you find from working virtually/remotely?

Don't be fooled into thinking you can sit back and relax; working in a virtual "office" is still normal working hours! But working remotely certainly reduces the stress of travelling every day. One big advantage for me about our virtual work environment is that I can communicate/teleport directly with any agent or team member regardless of their location.

5. What are some of your hobbies and things you enjoy doing during your spare time?

In my spare time, I'm quite a creative person! I love to "create," so give me paint, fabric, or a piece of wood and you will unleash my inner Picasso.

6. If you could have any superpower, what would it be?

For me, I would like to have two superpower abilities:

• Time manipulation: Then I can control time - it feels like I need 72 hours in one day most of the time!

• Animal communication: This is a personal one - I love animals and would like to sit (with the time I would have available because of my time manipulation superpower) and have a chat with my cat, dog, or bunny about how their day was ��

7. If you won an all-expenses paid trip to any destination, where would it be and why?

Everyone who knows me knows I always say that I would like to go to Iceland! I would love to go and see the Northern Lights and have a magical Icelandic winter holiday! There is NOTHING in life like the silence of snow!

8. Lastly, if the whole eXp Realty South Africa leadership team were stranded on a deserted island, who do you think would be the most resourceful and why?

Ilse! She knows the budget available to save my life - hahaha!

Marike Wilkinson

1. Tell us a bit about your career experience leading up to this point.

I come from a strong background in hospitality and recruitment but joined the real estate industry as an agent in 2018 for more flexibility. I worked successfully as an agent in rentals and sales before I was offered a transaction administration role within my previous company. I joined eXp in June 2022 and qualified as a full-status agent in January 2023.

2. Why do you enjoy doing what you do? (Being part of the transactions team)

At eXp, I can live out my passion for assisting property practitioners with my strong administrative skills and keen eye for detail. I love my supportive role, assisting eXp property professionals on their path to success!

3. To you personally, what stands out the most about the eXp Realty brand?

The freedom our agents have to be their unique selves. There is structure but they are not forced into a little box. I believe this is what makes them flourish.

4. What are some of the advantages that you find from working virtually/remotely?

A few months ago, we could simply pack up and move to a small coastal town without worrying too much about changing jobs. All we needed was good internet and a large enough garden for our pets. Plus, I am allergic to traffic.

5. What are some of your hobbies and things you enjoy doing during your spare time? Photography and Sunday drives with my husband.

6. If you could have any superpower, what would it be? Telepathy - it would cut down on the number of emails and phone calls.

7. If you won an all-expenses paid trip to any destination, where would it be and why? Greece - for the food and the breathtaking beaches!

8. Lastly, if the whole eXp Realty South Africa leadership team were stranded on a deserted island, who do you think would be the most resourceful and why?

To be honest, I think we would all chip in and contribute with our different skills and personalities. Together, this team could survive a deserted island experience. I would have one request though, Stuart Hyslop would need to narrate the entire experience with his radio voice.

Taryn Bell

1. Tell us a bit about your career experience leading up to this point.

I am a skilled administrative professional with over a decade of experience across multiple industries. I have a particular passion for real estate administration, where I have spent the past six years honing my skills and building my expertise. Throughout my career, I have developed a keen eye for detail and a commitment to excellence. I pride myself on my ability to stay organised and efficient, even in high-pressure situations. I am a skilled communicator and collaborator, always striving to build strong relationships.

2. Why do you enjoy doing what you do? (Being part of the transactions team)

I'm a passionate administrator who enjoys working with the entire eXp team, by assisting all the agents in achieving their personal goals. Being a perfectionist, I will always go the extra mile for all staff members to ensure each transaction is completed timeously and as smoothly as possible.

Having a team of ladies who are all like-minded is a breath of fresh air and all the ladies are always willing to help and give advice we need.

3. To you personally, what stands out the most about the eXp Realty brand?

The structure and model are amazing; the fact that there is no limit to what can be achieved by the agents, and the growth potential within the company also stand out as we are not restricted based on your location.

4. What are some of the advantages that you find from working virtually/remotely?

I am a lot more productive as there are fewer distractions and a customised environment which creates a stronger rhythm for myworkflow. To be able to work in comfortable attire and mainly because I get to spend more time with my fur babies (laugh out loud)!

5. What are some of your hobbies and things you enjoy doing during your spare time?

I spend a lot of time with my family as we are very close. If I am not doing that, I honestly love sleeping and watching my crime series!

6. If you could have any superpower, what would it be?

Atmokinesis - so I can control the weather and have cloudy cozy weather all year around.

7. If you won an all-expenses paid trip to any destination, where would it be and why? Finland - to see the Northern Lights!

8. Lastly, if the whole eXp Realty South Africa leadership team were stranded on a deserted island, who do you think would be the most resourceful and why?

It DEFINITELY would not be me! I would need to rely on the rest of the leadership team to help me survive as I would most likely be the first one to starve to death (laugh out loud)!

Zayaan Meyer

1. Tell us a bit about your career experience leading up to this point.

Hi, my name is Zayaan and I started my career in banking, which I was part of for 14 years. I managed a very successful sales team in a flagship branch, which entailed a lot of client-facing activities, which I really enjoyed. Moving over to real estate was a big change for me but I could not be happier.

2. Why do you enjoy doing what you do? (Being part of the transactions team)

I love the interaction with the agents. I am a people person and making someone happy makes me very proud. Also, working from home where my office is none other than my home makes it worth it. The team at eXp is so supportive; yes, you are not just a number... you are actually a valued individual.

3. To you personally, what stands out the most about the eXp Realty brand?

I love that it's all over, worldwide with collaborative individuals and a really amazing support structure. Yes, it's cloud-based, but we are like family – just a phone call away.

4. What are some of the advantages that you find from working virtually/remotely?

I love working from home, no long hours spent in traffic. This is quite a cost-saver too.

5. What are some of your hobbies and things you enjoy doing during your spare time?

In my spare time, I go to the gym. I do enjoy yoga as well, it’s good for the mind. A healthy mindset is everything to me, as well as a good work-life balance.

6. If you could have any superpower, what would it be?

The ability to fly! I hate traffic, hence why I love eXp ❤

7. If you won an all-expenses paid trip to any destination, where would it be and why?

I would love to visit the Maldives and sip some cocktails on the beach... mmm ... just the thought gets me smiling. Dream BIG! ��

8. Lastly, if the whole eXp Realty South Africa leadership team were stranded on a deserted island, who do you think would be the most resourceful and why?

I can make really good food if I do say so myself. So, they will never go hungry. I even know how to make a good braai, so don't worry about getting the wood and catching that fish, I am your girl! ��

Nyarai Mubaiwa

1. Tell us a bit about your career experience leading up to this point.

I started in the real estate industry about 12 years ago; first at a small office in Cape Town for a developer who renovated properties and rented them out. Then, I moved to a firm that sold premium properties in the Atlantic Seaboard here in Cape Town. The bulk of my real estate knowledge I gained in that firm where I spent about 8 years in an open-plan office, supporting property practitioners. I then moved to eXp thereafter to join the transactions team.

2. Why do you enjoy doing what you do? (Being part of the transactions team)

I enjoy learning something new every day from the many transactions we handle. which is quite interesting - no transaction is the same.

3. To you personally, what stands out the most about the eXp Realty brand?

Collaboration - eXp is big on collaborations among agents and among countries, which promotes growth.

4. What are some of the advantages that you find from working virtually/remotely?

Definitely not travelling to work�� It gives some time to get more work done.

5. What are some of your hobbies and things you enjoy doing during your spare time?

I enjoy the beautiful wine farms in the Western Cape and making my own clothes.

6. If you could have any superpower, what would it be?

Right now - speed - I would clear my inbox in a flash!

7. If you won an all-expenses paid trip to any destination, where would it be and why?

Bali - I think it's breathtaking and I would love to experience it in person. eXp, please send me there for a week!

8. Lastly, if the whole eXp Realty South Africa leadership team were stranded on a deserted island, who do you think would be the most resourceful and why?

Mmmhhh, that's a tough one! How much time do I have to think about this one? ��

A Round of Applause for

Our Award-Winning Agents!

The Property Practitioner Success Awards are an important part of our agent-centric approach to real estate, as they play a pivotal role in celebrating the accomplishments of eXceptional Agents who have achieved CAP status or any of our other accolades. At eXp, we believe in commending those who consistently surpass expectations, paving the way to success in their pursuit of service excellence. Through these awards, our aim is not only to highlight the exemplary accomplishments of these agents but also to shine a light on their tireless contributions to the real estate industry and eXp at large.

November 2023

Mdu Hlongwane

eXp

Johan Nolan

eXp South Africa

Most Unit Sales

Michelle Lottering

eXp South Africa

Most GCI Sales Value

Steven Johnstone

eXp

Monica Coetzee

eXp South Africa Property Practitioner of the Month

Wray

December

December 2023

January 2024

February 2024

Congratulations to these top-performing agents for the months of November and December 2023, as well as January and February 2024. Your hard work is truly inspiring, and we commend you for your dedication, professionalism, and the outstanding service you consistently provide to your clients.

A special mention also goes out to Deenie Martin, a three-time CAP Agent who CAPped the third time in just 19 days, giving her 346 days on 96% commission!

Lizelle Joubert eXp South Africa Growth Champion eXp South Africa Most Unit Sales Kirsty Hendry Christine Appel eXp South Africa Most GCI Sales Valuen eXp South Africa Property Practitioner of the Month Renee Lotz Irene Swart eXp South Africa Agent Ambassador of the Month eXp South Africa

Highest Unit Sales

Elmarie Human eXp South Africa Growth Champion Ash Rodda eXp South Africa

Highest GCI

Tinus Greyvenstein Margie van Rooyen eXp South Africa Listing Champion eXp South Africa Property Practitioner of the Month Mary Bailey Marike Wilkinson eXp South Africa Staff Award Highest Unit Sales eXp South Africa Growth Champion Steven Johnstone eXp South Africa Highest GCI Christine Appel Esmerie Croft eXp South Africa Listing Champion eXp South Africa Property Practitioner of the Month Marinda Hinzelman Stuart Hyslop eXp South Africa Leadership Agent Ambassador Eide van Zyl South Africa Listing Champion South Africa Growth Champion Amanda eXp South Africa Agent Ambassador of the Month

Welcome to Your Show House eXperience!

Embracing the timeless tradition of hosting show houses is a common practice in the realm of residential real estate. Hosting show houses serves as a strategic platform to showcase homes for sale to a wider audience. Typically scheduled on weekends, show houses aim to maximise foot traffic by tapping into the free time when individuals are not occupied with work commitments.

This year, eXp is introducing something new without completely reinventing the wheel! Introducing Your Show House eXperience, for customers considering a move to a new neighbourhood or looking for an investment property. Our dedicated eXp Realty South Africa agents will be staging some of the most interesting properties for viewing throughout the year.

The good news is that there is no need for an appointment to visit a property during the Show House Weekend; potential buyers can simply search for a home they like and come enjoy the showing! Those who are unable to attend the show house viewing are encouraged to contact an eXp agent to schedule a convenient time for a personalised property tour. Our dedicated agents are committed to providing you with the ultimate property-hunting experience!

This initiative also aims to motivate agents to host more show houses and reap rewards. By participating, agents stand a chance to win exciting prizes and entry into a monthly draw sponsored by ESI Attorneys. These prizes encompass a range of corporate gifting items, gazebos, feather banners, and much more, generously provided by ESI Attorneys.

4 5 6

Here’s to Another Successful BUILD AFRICA Conference!

Back by popular demand, this year’s BUILD AFRICA conference was held in Cape Town from 14 February to 15 February 2024. Hosted by Steven Johnstone, supported by the eXp South Africa team, BUILD AFRICA has gained acclaim as the ultimate real estate conference for agents who want to build a life AND a legacy through the industry. Steven describes himself as a “self-motivated, goal-orientated leader with a proven record of success in the real estate training industry.” His accomplishments as part of the eXp Realty South Africa team are a testament to this.

Throughout his career, he has proven to be a highly effective public speaker, recognised as one of the country’s top real estate sales trainers, and is uniquely skilled at influencing crowds as a speaker. With him at the helm, this year’s BUILD AFRICA conference was destined to be a success!

This year’s keynote speakers were:

1 2 3 4 5 6

Glenn Sanford, Founder, CEO and Chairman of eXp Realty and its holding company, eXp World Holdings. Glenn founded the company (based in Bellingham, Washington, USA) in 2008, and it quickly became the fastest-growing real estate company in history.

Brent Gove has more than 30,000 agents internationally in his revenue share group, making him the highest revenue share earner in the entire company.

Jennifer Jones runs one of the largest eXp teams in Canada and is passionate about helping other agents develop the necessary skills to create real magic in real estate. She is also the author of Million Dollar Magic: The Real Estate Agent’s Playbook to Building the Dream.

Randy Dyck has been a top-producing realtor for over 27 years. Over the past 18 years, he has developed and led one of Canada's most successful real estate teams, averaging more than 300 transactions per year.

Jay & Ashley Nelson are a couple that joined eXp in May 2017. They are in the top 2% of eXp's highest-selling agents and have been ICON agents four years in a row. Today, they have one of the largest eXp revenue share groups in the world!

Sheila Fejeran has spent decades studying, learning, and mastering the ins and outs of real estate. Many know her for being Brent Gove's sponsor - something that changed not only her life but the lives of thousands of people in the years that followed!

Also in attendance as a guest speaker was eXp Realty South Africa’s Director, Andrew Thompson, who was interviewed by our very own Lizna Nel and Founder, Glenn Sanford.

Many can attest to how life-changing the conference is. Many attendees have been able to build relationships with the best in the business, learn from industry professionals, discover the latest strategies for success, and be inspired by some of the best speakers in the world. The real power in an event such as this is intangible, and many of our agents have walked away better equipped to steer their careers in the right direction and on an upward trajectory!

Thank you to this year’s BUILD AFRICA event sponsors, Van der Riel & Associates Financial Planning and MultiNET Home Loans for their role in making the event possible.

eXp Realty Launches New Bidding Platform, eXp iBid

eXp Realty South Africa recently launched its online property bidding platform, eXp iBid, in partnership with PropNow.

Gawie Rossouw, Operations Manager at eXp Realty South Africa, expressed his excitement about the launch, stating, “eXp iBid is a game-changer for the buyer, seller, and estate agent alike. We are proud to bring this innovation to the South African market, offering a 100% fair price determination, transparent price development, and a clear digital offer process. It’s a win-win for everyone involved. We thank the PropNow team for partnering with us on this new product to help us better serve our real estate agents.”

Jan Thiel, Founder and CEO at PropNow, added, “Working with such a strong team at eXp, the world’s largest independent real estate network, is an amazing opportunity. We are truly excited to bring our experience in digital offer management to the dynamic South African market and create a completely new customer experience in real estate sales, which benefits everyone involved.”

eXp iBid aims to offer a transparent process for buyers, ensuring they get the fairest price for their dream homes. The platform provides a structured and standardised digital offer process, allowing buyers to submit their offers online from anywhere.

Monica Coetzee, eXp Realty Property Practitioner in Gauteng, added, “I recently had the pleasure of testing the new eXp iBid platform. This innovative platform streamlines the offer-making process, making it a breeze for buyers and sellers. The user-friendly interface ensures a smooth navigation experience, and the features are tailored to meet the unique needs of each property transaction. This platform stands out, from instant document uploads to clear communication channels.”

Advantages for Buyers Include:

• 100% fair price determination

• Transparent price development, eliminating the risk of overpaying

• Structured, standardised, and clear digital offer process

• Convenient online submission from anywhere

• Access to relevant documents for informed decision-making

• Stay updated with automatic notifications

• The use of the digital offer platform is completely free; sellers only pay agreed agent commissio

Advantages for Sellers Include:

• Optimal pricing

• Full market transparency

• Accelerated process to save money and time

• Freedom to conclude the transaction and decide on the buyer

• The use of the digital offer platform is completely free; sellers only pay agreed agent commission

Buyers and sellers participating in eXp iBid can expect a seamless process facilitated by their real estate agents. After the bidding period concludes, the agent will guide the selected buyer through the remaining steps leading up to the contract exchange.

Advantages for Agents Include:

• Massive time savings

• Faster sales

• Higher customer satisfaction

• Better prices + more business = more commissions

• Unique listing tool

• No extra costs or fees for eXp Realty agents

The Race to Vic FallsA Destination of A Lifetime!

In the real estate industry, competition is fierce, but so are the rewards. In April 2023, eXp Realty South Africa launched an exhilarating campaign, the Race to Vic Falls, which captured the attention and ambition of its agents. The stakes? A luxurious seven-night stay at the renowned Victoria Falls Safari Lodge in Zimbabwe. This prize was up for grabs for agents who could enlist a minimum of 12 net new agents to their primary revenue-sharing network during the campaign period, which concluded at the end of January 2024.

The journey was not without its challenges, but the allure of Victoria Falls served as a powerful motivator. As the campaign drew to a close, only six agents emerged victorious, meeting the stringent requirements to qualify for the coveted draw. Among them were Alet Marias, David Beattie, Elmarie Human, Lizna Nel, Lydia Vorster, and Steven Johnstone, each having demonstrated exceptional dedication and prowess in expanding their networks.

The culmination of the campaign was with the draw held at Cape Town’s waterfront, amid palpable excitement and anticipation. Finally, the moment arrived, and David Beattie's name was pulled from the hat, securing him and his loved ones a coveted getaway to Victoria Falls Safari Lodge.

His reaction was one of pure joy! Expressing gratitude for the opportunity and the effort invested, he commented, "I feel so privileged, this is such a blessing. I cannot wait to embark on this journey with my family. I will be taking my wife and three daughters with me. It is going to be unbelievable. Thank you to eXp Realty South Africa and Victoria Falls Safari lodge for this opportunity, I am extremely grateful and look forward to another fantastic year ahead.”

David's achievement was not merely luck; it was the result of hard work and determination.

"We had to get 12 new agents to join eXp Realty South Africa on our Tier 1," he explained. "I got stuck in and attracted some agents so that I could qualify for this amazing draw." His commitment to the task at hand paid off handsomely, opening the door to an unforgettable experience for him and his loved ones.

Andrew Thompson, Country Leader of eXp Realty South Africa, extended his congratulations to David and acknowledged the

collaborative effort behind the campaign's success. "I want to give a big shoutout to Ross Kennedy for organising this incredible destination," he remarked. "Such a great prize, a seven-night stay for four people with flights included out of any of South Africa’s major airports."

The competition also shed light on the exceptional efforts of other agents who went above and beyond to expand their networks. Steven Johnstone led the pack, attracting an impressive 36 new agents, followed by David Beattie with 17, Lizna Nel with 14, and Alet Marias and Elmarie Human with 13 each. Lydia Vorster rounded up the group, meeting the threshold with 12 new recruits.

The Race to Vic Falls campaign was not just about winning a holiday; it was a testament to the dedication and camaraderie within the eXp Realty South Africa community. It showcased the power of teamwork and the rewards that come with unwavering commitment to excellence. As agents celebrated David's triumph, they also celebrated their collective achievements, knowing that together, they can conquer any challenge that comes their way.

Looking ahead, the success of the campaign serves as a reminder of what is possible when individuals come together with a shared purpose. As eXp Realty South Africa continues to grow and thrive, fuelled by the passion and determination of its agents, there is no limit to what they can achieve. With each new milestone reached, the journey becomes even more exhilarating, promising endless opportunities for success and fulfilment.

eXp Luxury Launches in South Africa

eXp Realty recently announced the continued expansion of its luxury real estate programme, eXp Luxury, into the dynamic international markets of South Africa, Australia, New Zealand, and the United Kingdom.

eXp offers an agent-centric approach that allows for independent, non-franchised, flexible working conditions, with education and technology resources being provided for a monthly fee. Agents are also incentivised to bring new property practitioners on board.

Andrew Thompson, Director and Country Leader of eXp Realty South Africa, said, “We are incredibly proud and excited to announce the expansion of the eXp Luxury brand into the vibrant market of South Africa. This marks a significant milestone in our journey, and we are enthusiastic about the opportunities that lie ahead as we bring unparalleled high-end international luxury real estate expertise to the country.

We are committed to excellence and innovation and look forward to elevating the real estate experience. Our first agent from South Africa to join eXp Luxury was Cape Town-based property practitioner, Michiel de Vogeleer, who is no stranger to the luxury market,” he continued.

eXp Luxury debuted in the United States in October 2022, followed by a launch in Canada in September 2023, and most recently, it extended its reach to Puerto Rico. The programme has been expanded to 1,100 members across the United States, Canada, and Puerto Rico over the last fifteen months.

“eXp Luxury represents our dedication to empowering elite real estate professionals with unparalleled tools and resources to enhance production and strengthen their individual brands while elevating their customer service offerings,” said Michael Valdes, Chief Growth Officer at eXp Realty. “This strategic international expansion marks a pivotal moment, showcasing eXp Realty’s unwavering commitment to not only revolutionising the global real estate landscape but setting a new benchmark for excellence in luxury real estate.”

LET’S TALK

JOIN EXP REALTY FOR INDUSTRY INSLIGHTS AND THE EXP MODEL EXPLAINED

Introducing a Brand-New Weekly Series, Let’s Talk!

eXp Realty South Africa marked the start of the new year with the launch of an exciting and informative series – Let's Talk! Taking place every Thursday, this series is your ticket to gaining insights into eXp’s agent-centric approach to real estate. Hosted by eXp Realty South Africa's Marketing Co-Ordinator, Siya Ndzimande, and Country Leader, Andrew Thompson, each installment of Let's Talk! promises to be an engaging journey covering a diverse range of industry-related topics.

As part of the series, attendees will have access to training sessions that can further hone their skills and propel their real estate journey to new heights. Don't miss out on the opportunity to connect with industry leaders, learn from seasoned professionals, and gain a competitive edge in the dynamic world of real estate.

eXp Realty South Africa is inviting you to join the Let's Talk! series and be part of a community that values knowledge, growth, and success. Mark your calendar and get ready to explore, learn, and achieve your career goals.

52 Roadshows in 52 Weeks… eXp is Heading Your Way!!

This year, eXp Realty South Africa is upping the ante from last year and embarking on 52 roadshows in 52 weeks! The objective is to engage with real estate agents across the country and expose them to tools, technology, processes, and systems to unlock their full potential through the best compensation model the world has ever seen.

Hosted by Andrew Thompson, this series of informative events will delve into the eXp Realty and eXp Luxury Models, showcasing their innovative approach to real estate. Featuring guest speakers, a sponsors panel discussion, and real estate agent testimonials, this series of events offers invaluable knowledge and networking opportunities.

These roadshows would not be possible without our sponsors, Snappit, MultiNET Home Loans, Currencies Direct, and The Virtual Agent. Keep an eye on our social media pages to see when we will be in your area!

Industry News

Why Investing in Rental Properties in South Africa Makes Sense Right Now

eXp World Holdings Inc. has announced the financial results for In the dynamic South African real estate market, future-focused investors are turning their attention to rental properties as a strategic investment choice. Despite the ongoing fluctuations in interest rates and economic uncertainties in the country, the rental market remains robust, offering a stable and potentially lucrative solution for those who want to build wealth through property.

In recent months, high interest rates have discouraged many potential home buyers, steering them in the direction of rental property instead. This trend is expected to continue in 2024, which will likely lead to a consistent demand for rental properties this year and beyond. The decision to rent rather than buy has become increasingly attractive for many South Africans; this may be attributed to factors such as economic uncertainties, changing lifestyles, and a desire for flexibility.

While there is speculation that interest rates may decline in 2024, the impact of the previous rate increases has already left its mark on the market. If interest rates do decrease, as some experts anticipate, the rental market is expected to remain strong. As the South African real estate landscape continues to evolve, those who choose to invest in rental property put themselves in a good position to reap the rewards of a stable and potentially lucrative investment avenue and income stream.

Budget Speech 2024: Unchanged Property Taxes Spark a Glimpse of Optimism

Minister of Finance, Enoch Godongwana’s February 2024 Budget Speech sparked both optimism and caution in the real estate market. While there was no hike in property taxes, including Transfer Duty and Capital Gains Tax, there were greater concerns regarding the broader economic challenges and higher inflation. Although many had hoped for a reduction in property taxes to revive the property market after recent turbulences, there is a degree of stability brought on by the fact that they will remain unchanged for the next financial year. Property owners can breathe a sigh of relief in the coming months knowing that their tax burdens will not increase.

Amid the economic uncertainties, conditions for property buyers remain particularly favourable. Relatively lower prices, combined with supportive mortgage lending conditions, create an environment where buyers can find good value. Deposit requirements are also somewhat low, and first-time buyers continue to enjoy the opportunity to secure full loans, sometimes even inclusive of costs! These factors contribute to an accessible entry point for those looking to start investing in real estate or grow their existing portfolio while capitalising on unchanged property taxes. For property buyers, the current market conditions offer a silver lining.