The virtual brokerage ended in 2024 with 82,980 agents. According to fourth quarter revenue data, this was a 5% decrease compared to the previous year. Exp posted revenue of $1.1 billion in the last three months of last year.
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Amidst a tough market, EXP experienced something like a mixed bag in the final months of 2024. Losses shrink, but revenues increased slightly, and the number of agents actually fell.
The numbers come from the company’s newly published fourth-quarter revenue report, indicating that EXP World Holdings (the parent of Exp Realty) from October to December generated $1.1 billion in revenue. It’s there.
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This is an improvement of $981 million won by the brokerage during the same period last year. The company also reduced its loss to $9.5 million. This will most earn the fourth quarter of 2023, when the loss reached $21 million.
The report also shows that at the end of 2024 the number of agents fell 5% year-on-year to 82,980. Industry observers are closely monitoring numbers with agents in EXP. This is because the company was the fastest growing major brokerage company in the industry for many years. That previous growth led to the company’s founder Glenn Sanford quickly predicted that in 2021 the company would have hundreds of thousands of agents.
Glenn Sanford
In a revenue report on Thursday, Sanford ultimately concluded that “in December alone, the top 10 US agents “we finished the year with a strong momentum,” with trading volumes exceeding more than $100 million.” Ta.
“We are a professional growth platform and look forward to more exciting announcements in the weeks and months,” Sanford said.
This report also includes all numbers for 2024. Over the year, EXP generated revenue of $4.6 billion. This is an increase of 7% compared to the previous year. However, losses in 2024 were also $21.3 million, up from just under $9 million the previous year.
Trading in 2024 increased 3% year-on-year to 434,165, but volume increased 9% to $185.2 billion. In the fourth quarter alone, transactions rose 6% to 103,942, and volume rose 17% to $45.3 billion in the fourth quarter.
Heading towards Thursday’s earnings, EXP stock was trading in the $11 range. It was between days and weeks, but only a small improvement compared to a year ago when stocks were above $11.
The stocks surged in after-hours trading following the release of its earnings report on Thursday.
Credit: Google
The broker’s market capitalization was approximately $1.74 billion as of Thursday afternoon.
EXP was last reported in November. At the time, the company revealed that it had a modest year-on-year increase in the third quarter of last year. However, the company also suffered a third quarter loss of $6.5 million compared to the $2.3 million profit generated over the same period a year ago.
During a live stream discussing Thursday’s report, Sanford focused on the company’s international efforts, saying it would be “the biggest driver of future growth.” He also said international revenues in 2024 were up 63% compared to 2023, with far more agents than non-North American agents.
“Our international presence is a huge advantage for agents due to the way consumers buy in multiple countries around the world,” Sanford said.
Exp Realty CEO Leo Pareja also spoke on the phone, promoting many of the top producers who have recently come to the company. He also celebrated his willingness to use EXP’s technical products and third-party providers such as Canva. He contrasted with his rivals, saying, “Some of the competitors there believe they are high-tech companies.”
Update: This story was updated after publication with additional background and additional details from Exp revenue reports and analyst calls.
Please email Jim Dalrymple II
