The Vancouver Life Real Estate Podcast Glenn Sanford (EXP) On How Real Estate Is Going Digital
We are extremely excited to have interviewed the creator of eXp Realty and on this episode we hear about how the home buying and selling experience is evolving and how the first ever digital brokerage is shaping the future of real estate.
A bit about Glenn:
Glenn Sanford is the founder eXp Realty, CEO of eXp World Holdings, Inc. and Chief Strategy Officer for VirBELA.
After being involved with a number of internet start-ups in the 1990s and early 2000s, including a stint at AOL, Glenn started a highly successful real estate career in 2002. In 2006, his fourth full year in the business, Glenn and his team closed over $60,000,000 in real estate almost entirely from online lead generation and was ranked as one of the top 50 teams nationally with Keller Williams. After the downturn in 2008, he and his team developed the first cloud-based brokerage model that uses a 3D avatar based online office to collaborate and communicate while abandoning the physical bricks and mortar infrastructure normally associated with real estate brokerage. In the last 11 years, since launching with 25 agents, eXp Realty has grown to over 87,000 agents across 24 countries.
eXp Realty refers to itself as Agent-owned and the company became a public company in 2013 and in 2014 started to distribute equity to its productive agent owners. eXp Realty provided the first ESOP style Stock Ownership Program for its agents and brokers as well as a revenue sharing program all designed to enhance the agent-centric business model.
EXP is the fastest growing brokerage in history and has grown by over 11,000 agents in just the last 12 months alone.
The company saw revenues of $4.6 Billion in 2022, and was one of the few brokerages to post a significant profit in the downturn year.
eXp’s market value has exceeded $3.6 Billion and, as the largest shareholder, Glenn is one of the tech worlds most recent Billionaires.
In this episode we talk with Glenn about home buyer and seller behaviours and trends that he’s seeing from tracking sales from around the world.
With eXp entering its 15th year, Glenn Sanford discusses the exciting evolution of the brokerage and outlines some of the massive acquisitions they’ve made recently, and how these are focused on increasing agent abilities to dominate in any marketplace.
Glenn talks about the role of artificial intelligence in Real Estate and if there’s place for it to completely remove the need for human interaction within a real estate transaction.
As with any business model that achieves this level of success, the competition has noticed and the copy-cat brokerages are starting to appear. Glenn offers his position on the competition, and what he see’s as the future for tradition brokerages.
This was a real eye opening and inspiring conversation with a true visionary and someone who has completely altered the course of Real Estate on a Global level.
We hope you enjoy it too.
To learn more about eXp, visit : https://expworldholdings.com
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Dan Wurtele, PREC, REIA
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Ryan Dash PREC
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