To Our World
1 - 2023
Welcome
Issue
INTRODUCTION FROM THE EDITOR
It has been a wonderful start to 2023, following the highly successful Africa Leadership Tour that we hosted in Cape Town on 24 November 2022. It proved to be a worthwhile networking event that favourably positioned us to attract influential people and top-producing real estate professionals into our organisation.
A successful start to the year is always encouraging, and you can feel the energy and eXcitement within our leadership and agent teams as we welcome and prepare for growth in every way, with a key focus on production. It has been incredible to see Glenn Sanford at the helm of eXp Realty yet again, where he initiated and set the tone for the year by stating that he wants eXp to remain the most agent-centric real estate company on the planet. At eXp, we believe that our agents and their eXperience within our organization are what that will differentiate us from our competitors well into the future!
We are extremely excited about the countrywide roadshow events that we have planned for this year, and I am confident that these will ignite a vested interest in others to attend and meet our people, as well as learn and understand the best compensation model in real estate that the world has to offer. Further to this, I cannot wait to meet the likes of Brent Gove and Gene Fredericks at the agent-led Build Africa Conference, taking place from 26-27 April 2023 in Cape Town. The conference will be hosted by our very own Steve Johnstone and his network of agents – this is going to be one mega event indeed!
Our team has also initiated the Marathon, the Race, and the Sprint to Vic Falls, which is well underway, with great prizes and a stunning holiday for four on offer – including sponsored flights from either Durban, Cape Town, or Johannesburg. We look forward to seeing who our standout performers will be and who will take the prize!
From us at eXp South Africa, it has been an immensely positive start to what we anticipate will be an interesting year as we venture into the second quarter. If you are in the market to buy, sell, rent, or develop, remember that the future of real estate is here and our forward-thinking agents are here to assist you with your real estate needs! We have very quickly grown into a team that boasts more than 850 agents across most towns and cities in South Africa, and with our collaborative, positive and professional spirit, you will enjoy an eXperience like no other.
Reach out to an eXp South Africa agent, we are here to assist you on your real estate journey!
Onwards and upwards!
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Andrew Thompson Broker of Record, eXp South Africa
EXP WORLD HOLDINGSEXP REALTY NEWS
On 28 February 2023, eXp World Holdings, Inc. (Nasdaq: EXPI), announced its Q4 and full-year results for 2022. With a revenue of $4.6 billion last year, eXp saw a 22% year-on-year revenue increase, which is incredible news! The company also declared a cash dividend of $0.045 per share of common stock in Q1 of 2023.
Founder and Chairman, Glenn Sanford will also be returning as CEO of eXp Realty in 2023, and he had this to say, “I am excited to return as CEO of eXp Realty to drive our next phase of growth by doubling down on agent-centric innovation. Our model was designed to withstand varying market conditions, which uniquely positions us to continue investing in the agent eXperience in a down market. In turn, we maximise long-term growth and profitability.”
He went on to say, “Thanks to the hard work of our agents and our industry-leading operating efficiency, our core eXp Realty North American business remained solidly profitable in the fourth quarter, despite the market downturn.”
With these results, it’s no wonder that the number of agents and brokers on the eXp Realty platform increased by 21% over the last year!
eXp has been rapidly growing, and we are certain that we will continue on this trajectory. With an agent-centric model that places focus on our Property Practitioners and enhancing their lives, eXp is bound to reach all corners of the globe and completely transform the landscape of digital real estate!
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Over $240 Million Paid Out in Revenue Share and Equity Benefits
At eXp, our focus is our agents, and with this as our guiding principle, we have created an agent-centric model which puts our Property Practitioners and their needs first. To create multiple streams of income for agents, eXp offers revenue share and equity benefits, which help brokers and agents earn more.
In March 2023, eXp Realty announced that it had paid over $240 million in revenue share and equity benefits to agents and brokers in 2022.
This competitive compensation model is one of the many reasons for eXp’s continued agent growth and brokerage expansion. Revenue share in 2022 increased by 20% to $202 million, while eXp World Holdings issued over 2.5 million EXPI shares to agents, valued at more than $42.5 million!
Glenn Sanford, Founder and CEO of eXp Realty, said, “When eXp Realty was founded, we set out to build the most agent-centric brokerage that solved the biggest pain point in real estate for agents.
“An important part of building eXp was designing a truly aligned compensation model that rewards agents for their production and contribution to the company’s growth. As we have disclosed in our fourth quarter and full-year 2022 results, our model and core business have proven to be sustainable in both good and bad markets. More importantly, this proves that we are delivering on the promise we made to agents when eXp was founded in 2009. By building the most agent-centric real estate brokerage on the planet, we continue to grow, improving the lives of agents around the he added.
Glenn Sanford Returns as eXp Realty CEO
On 3 January 2023, eXp World Holdings, Inc. (Nasdaq: EXPI), announced the return of Glenn Sanford, eXp World Holdings Founder, Chairman and CEO, as eXp Realty’s CEO, in addition to his current responsibilities. Sanford will assume the CEO responsibilities with a primary objective of driving the next phase of growth while iterating the agent value proposition, as well as building the next generation at eXp Realty amid challenges in the real estate market.
Sanford launched eXp Realty in 2009 and was a member of the Agent Technology Council in the areas of online client acquisition, client conversion, and technology. He has made eXp Realty the largest independent real estate company in the world, was voted the #2 “Mover and Shaker in the Real Estate World” in 2022, and recently took his place on the Forbes billionaires list.
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Glenn Sanford CEO
eXp Continues Global Expansion, Now with Operations in 24 Countries and Counting…!
eXp is on an expansion roll! Since its inception in 2008, the company has grown to over 87,000 agents operating in more than 24 countries. By focusing on building an agent-centric business, eXp has been able to attract top talent from across the globe to build a better, stronger company.
eXp offers multiple methods of earning, such as amazing commission splits, revenue share, and equity, along with the cutting-edge technology of a virtual work environment, free training and coaching sessions, as well as access to local and international listings and databases. Thanks to all these amazing benefits, eXp is now attracting more agents than ever, which has led to the company expanding across the globe.
In 2022 alone, eXp expanded to six new international locations! We successfully started operations in the Dominican Republic, Greece, New Zealand, Chile, and Poland, with plans to expand to Dubai in 2023.
This is the kind of growth that can be expected from one of the fastest-growing real estate brokerages in the world, and we are so excited to see where else in the world this journey takes us this year!
eXp Realty Named One of Glassdoor’s “Best Places to Work” for 6th Consecutive Year!
eXp Realty has once again proven that it is one of the fastest-growing brokerages in the world, and indeed one of the best companies to work for! Operating in 24 countries and with more than 87,000 agents worldwide, eXp has been rapidly gaining popularity.
Another feather in our cap comes at the start of 2023.
For the sixth consecutive year, eXp Realty has been named one of Glassdoor’s “Best Places to Work,” as voted by you and the public. This phenomenal achievement couldn’t make us any prouder!
eXp Realty took the #20 spot on Glassdoor’s 2023 list of “100 Best Places to Work” in the Large Company category in the U.S., whilst eXp Canada placed seventh out of 50 on Glassdoor’s “Best Places to Work in Canada” list, moving up from #15 last year!
“Our continual focus on iterating the agent value proposition, with the intention of being the most agent-centric real estate brokerage on the planet, has attracted some of the brightest and most service-oriented professionals in the industry,” said Glenn Sanford, Founder, CEO and Chairman of eXp World Holdings and CEO of eXp Realty. “By focusing 100% on improving the lives of our agents and their customers, we have built the fastest-growing real estate company,” he added.
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Let’s Get Social!
At eXp, we have taken all the conveniences of modern technology and combined them with traditional business to create a digital brokerage that is one of the largest in the world, offering you 24/7 collaborative technology at your fingertips.
By using cutting-edge tools, such as eXp World, Workplace and WorkChat platforms, we have made it simpler for our Property Practitioners and staff to communicate and collaborate effortlessly.
You can now simplify how you communicate with fellow eXp Property Practitioners by using our incredible Workplace and WorkChat programmes. These help eXp agents interact seamlessly with each other through quick chat settings, making collaboration between agents across the globe
All these connective platforms are used 24/7, illustrating their importance in creating and building successful real estate businesses in this new-age digital world. The use of these effective communication tools also affords our Property Practitioners the opportunity to network with agents in South Africa and across the globe, allowing for an enhanced working eXperience.
Make Your Metaverse with eXp!
eXp is committed to digital innovation in the real estate space and thus, has incorporated many impressive online technologies to help the company thrive and meet the demands of Property Practitioners within South Africa and across the globe.
With our Virbela® and Frame™ metaverse offerings, we provide an ecosystem of immersive technologies which aim to redefine the modern workspace. Virbela®, with its new virtual campus that offers expansive spaces for collaboration, learning, and community-building, empowers the world’s most innovative companies to create experiences that foster
partnerships. Frame™ continues to push the limits of what can be done in virtual spaces through state-of-the-art technology that is accessible from desktop and mobile browsers, as well as a digital app. With this virtual reality setup, our Property Practitioners can host/join meetings, learning sessions, events, and even open houses!
With access to these innovative virtual reality technologies, you can change the way you do real estate and elevate your business to the next level. At eXp, we will always strive to be at the forefront of digital innovation!
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eXp Shareholders Summit 2023
Mark your calendars because the annual eXp Shareholder Summit is coming soon! Taking place from 17-20 May 2023 in Orlando, Florida, the summit promises to help you scale and take your real estate business to new heights in four unforgettable days of learning and networking. Featuring numerous guest speakers and eXp senior management, the event promises to equip you with information that matters, including growth and business strategies, networking opportunities, as well as motivational talks to
EXPCON 2023 – eXp’s Premier Event!
encourage a positive mindset.
For more information on the event or to book your virtual seat, visit https://expshareholdersummit.com/
Don’t miss your opportunity to interact with speakers, fellow Property Practitioners, and other investors, all while learning more about eXp itself!
Save the date because eXp’s premier event of the year is ahead!
EXPCON 2023, taking place from 2-5 October 2023 at Mandalay Bay in Las Vegas, offers you an unforgettable opportunity to connect with an eXceptional community of eXp industry leaders and like-minded professionals and learn from top producers and team leaders.
At the event, you can expect a multitude of eXp Agents to share industry knowledge and know-how with you, an opportunity to network with key influencers, and a chance to share your ideas and build your business with key insights and thought leadership.
For more information on the event, visit https://expcon.exprealty.com/ or click here to pre-register for EXPCON 2023.
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EXP SOUTH AFRICA NEWS
commencing operations in December 2020, with the aim of reaching a 2,000-strong agent team as its third-year milestone.
eXp’s agent-centric approach and flexible-working opportunity, combined with generous commission
structures, wealth creation incentives and revenue-share on the U.S stock exchange (Nasdaq: EXPi), as well as access to a state-of-the-art digital environment and useful online tools, make it an extremely attractive business opportunity to Property Practitioners across South Africa. As such, the company’s growth trajectory within this sector is set to soar to even greater heights!
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eXp South Africa’s Countrywide Tour Continues!
Since its inception in early 2021, eXp South Africa’s series of roadshow events across the country have exceeded 15. We are set to continue the momentum into 2023, with a full timetable of scheduled events up ahead!
The first roadshow event for the year was hosted on 23 February 2023 at the Pretoria Country Club, with resounding success! More than 70 guests registered and attended the event, which gave us a fantastic start to our 2023 tour.
Our second event took place in Nelspruit on 23 March 2023 at The Arena @ Emnotweni, with more than 20 guests in attendance.
"Our business is about relationships, and the more you network, the greater the chance of extending the opportunity to meet people, interact and ultimately benefit you and your brand. The people interaction is key to any good business, and our roadshows definitely grow our broader community of real estate professionals," explains Andrew Thompson, Broker of Record for eXp South Africa.
During these pivotal sessions, Thompson, alongside other distinguished guest speakers, offers insight into the most eXciting real estate opportunity South Africa has to offer, whilst unpacking the innovative eXp model. In addition, details are shared regarding the various weekly and monthly training initiatives offered for new and existing Property Practitioners, the enhanced eXp Teams offering as well as insight into how to become a successful CAP agent.
Be on the lookout for details on future events in your area!
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eXp South Africa Announces Its Top 20 Agents For 2022
Meet eXp South Africa’s Top 20 Property Practitioners who have secured their place on the inaugural lists of recognition and celebration for their outstanding performance during 2022!
Congratulations to the Top 20 Property Practitioners assessed by gross commission income, with the renowned Lizna Nel taking the top spot. Nel, along with everyone else on the list, has made us extremely proud!
A further congratulations to the Top 20 Property Practitioners assessed by unit sales and rentals for 2022, particularly the leading agent, Kelly Brown!
A hearty and sincere congratulations to all our amazing agents. You have made us extremely proud of your dedication and hard work throughout the year, and we look forward to your bright futures here at eXp South Africa!
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eXp South Africa Property Practitioner Success Awards: Year-To-Date 2023
At eXp South Africa, we have started the year with a bang, and business is indeed booming, thanks to our incredibly talented and hardworking family of agents! Congratulations to all our Property Practitioners who have achieved CAP status or one of our prestigious awards at our monthly Property Practitioner Success Awards sessions of 2023, hosted in
January, February and March 2023.
The hard work, dedication, and diligence of our extended team of Property Practitioners say it all. You have done eXp South Africa proud and we are incredibly honoured to have you all as members of our family! It’s onwards and upwards from here…
“People Moves”
We would like to extend a warm welcome to the soon-to-be new members of the eXp team:
Zaani Vermeulen will be joining eXp South Africa as a Transactional Specialist with effect from 12 April 2023.
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Alicia Grobbelaar will be joining eXp South Africa as a Financial Assistant to Ilse Anhauesser with effect from 17 April 2023.
heartfelt congratulations also goes out to Nyarai Mubaiwa, who assumed a new role as Transactions Co-Ordinator on 1 April 2023.
Taryn Bell will be joining eXp South Africa with effect from 2 May 2023.
The Race Is ON!
Join the race to DESTINATION SUCCESS with eXp South Africa’s Race to Vic Falls initiative! You could WIN a seven-night holiday for four people to Victoria Falls Safari Lodge, inclusive of flights from either Cape Town, Durban, or Johannesburg!
How to enter?
Simply sign up 12 new agents to your first tier over the 12-month period. The first 100 agents to achieve this as Sponsor will be entered into a reducing draw.
The competition runs from 1 February 2023 – 31 January 2024, terms and conditions apply.
For more information, contact Amanda Wray on amanda.wray@exprealty.net
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Congratulations to Robyn Dougans from Team NRG on her recent achievement of completing the grueling Addo 100 Miler (160 kms) Trail Run, which took place from 17-19 March 2023.
The course takes runners through some of the most remote wilderness in the Addo Elephant National Park. Runners go through areas they would not be able to access by any other means, climbing a total of 5,640 miles (just over 9,000 kms) across the course route. This event sits firmly
Robyn had a phenomenal event, finishing fourth in the women’s event and thirteenth overall, with a
Well done, Robyn! We at eXp South Africa are incredibly proud of you and your phenomenal
was thoroughly enjoyed by all! Well done to everyone that participated, and a special shout-out to Sibs, who managed to do it all whilst wearing an orange tutu!
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“We would hereby like to express our sincere appreciation for your Port Elizabeth/Gqeberha agent, Christelle Jansen Van Rensburg.
Christelle went out of her way for all parties involved in the recent sale of my partner's house and the purchase of our new home. Going above
and beyond isn't enough to describe the amountof time and effort she put in for us and the stress she put herself through. All the while, she was going through serious medical difficulties of her own.
The term ‘selfless’ keeps coming to mind when I think of all she has done for us, and all other parties involved. We would recommend her to anyone and everyone that wants to sell/buy property. She truly is an asset to your company, its name and values! From the bottom of our hearts, thank you!!!”
- Anel Kotze and Jansen Fourie (Property Sellers)
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Christelle Jansen
Van Rensburg Gqeberha
INDUSTRY EVENTS
BUILD AFRICA 2023
The much-anticipated BUILD AFRICA 2023 conference will be taking place from 26-27 April 2023 in Cape Town. Hosted by Steven Johnstone and eXp South Africa team, the conference is proudly sponsored by Boshoff Attorneys, Van der Riel & Associates, MultiNET Home Loans and Currency Partners.
If you are a Property Practitioner, you do not want to miss out!
You may be asking yourself why you should attend this conference. The real power in an event such as this is intangible, and you will have the opportunity to build relationships, network, and learn how to grow your business into one of great success!
The conference will feature global industry leaders as keynote speakers – including two of
the most successful agents in eXp globally, Gene Frederick and Brent Gove. Additionally, Rory Dyer, an expert in leadership and arguably one of the most powerful public speakers in the world, will share insightful, educational, and mind-blowing addresses. You will discover the latest trends and strategies to succeed in the ever-evolving real estate industry, so you can take your career to the next level!
Visit www.buildafricaconference.co.za for more information and to book your seat TODAY!
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INDUSTRY-SPECIFIC NEWS ARTICLES
Market Shift Highlights Fundamentals of Real Estate Brokerages and Their Operations
2022 proved to be a challenging and tumultuous year for many sectors, and realty was no exception. The real estate market saw a downturn in performance, with a reduced number of transactions. Many brokerages, including some of the largest in the U.S., were forced to forge new paths and plan alternate strategies to ensure an uptake in performance.
Powerful predictors to keep a close watch of include agent count, transaction volumes, and the relative growth and decline of brokerages in the previous year. These can all give a clear indication of future performance.
eXp has continued its trajectory as one of the fastest-growing real estate brokerages in the world, with an exponential increase in the number of its U.S. agents alone and a global agent count of more than 87,000 currently. Directly correlated to agent count are transaction volumes and an overall performance rating of brokerages. Amongst some of the largest brokerages globally, eXp Realty, once again, outperformed the market with a transaction growth of 12% in 2022, compared to
an overall market decline of 18%.
With the declining market, many companies across various industries, including brokerages within the real estate sector, have been forced to cut costs to enhance profitability. eXp, however, has increased operating expenses from a smaller base.
The market outlook in 2023 continues to be questionable, with growth in agent count and transaction volumes forecasted to remain sluggish. However, one key element to be mindful of is that this is a numbers game: less transactions will go to fewer agents, and therefore, brokerages with a strong agent count growth will essentially outperform the market (with eXp being a key example).
In conclusion, companies with sustainable models, lower overheads, and strong recruiting are more likely to succeed than those without. eXp Realty – with all the above as key features within its agent-centric model – looks set to continue its positive trajectory.
Selling Property Has Gone Digital!
With the first quarter of 2023 having reached its end, an important thing for all Property Practitioners to keep in mind is that buying and selling homes has gone digital! The restrictions of the pandemic pushed VR into the spotlight in the real estate industry, and with good reason.
Homes can now be showcased and viewed in a socially distant and safe way from anywhere in the world. It’s quick, easy, safe, and doesn’t interrupt the seller’s life. What’s more, many businesses have now also turned to social media and digital platforms to advertise listings, as more millennials enter the market and use these platforms for their buying and selling needs! With eXp South Africa’s online and social media listings, as well as VR technology, you can get one step ahead of the competition as a member of our agent team!
2023 National Budget and Property Sales
Finance Minister, Enoch Godongwana delivered his 2023 Budget Speech on 22 February 2023, shedding light on some imminent changes within the local real estate industry. He announced, amongst other things, that the transfer duty table will increase by 10%, effectively removing transfer duties for residential properties under R1.1 million. This will likely encourage more first-time home buyers and is welcome news for many South Africans. At eXp South Africa, we are equally excited to see how these changes enhance real estate in the country and the opportunities they bring to our agents and their portfolios!
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