eXp Realty Paid Over $240 Million in Revenue Share and Equity Benefits to Agents and Brokers in 2022

Aligning the interests of agents and brokers with the company they own is key to eXp Realty’s long-term growth strategy

Revenue Share and Equity Benefits
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eXp Realty Paid Over $240 Million in Revenue Share and Equity Benefits to Agents and Brokers in 2022

BELLINGHAM, Wash., March 03, 2023 (GLOBE NEWSWIRE) — eXp Realty®, “the most agent-centric real estate brokerage on the planet™” and the core subsidiary of eXp World Holdings, Inc. (Nasdaq: EXPI), today released its 2022 revenue share and agent equity payout figures, demonstrating how its competitive compensation model underpins continued agent growth.

Revenue Share and Equity Paid to Agents and Brokers Continues To Increase Year-over-Year

  • Revenue share to agents increased 20% to $202 million in 2022.
  • eXp Realty distributed more profit/revenue share benefits last year to agents and brokers than any other real estate brokerage model or platform.
  • As part of our agent equity program, eXp World Holdings issued over 2.5 million EXPI shares to eXp Realty agents and brokers valued at more than $42.5 million.

“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,” said Glenn Sanford, Founder and CEO of eXp Realty. “Historically, agents were generally not offered meaningful ownership in the brokerages they were part of and the profit/revenue sharing models didn’t provide a viable path to potential retirement for the vast majority of agents.

“With this in mind, 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 has proven to be sustainable in both good and bad markets. More importantly, it 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 world.

All that being said, since becoming a public company in 2013, EXPI’s stock has outperformed all other publicly traded real estate brokerages, franchisors and brokerage/franchisor conglomerates. We also enjoy the highest market cap among all publicly traded residential real estate brokerage platforms, showing once again that focusing on the agent experience isn’t just good for the agent, but it has also been good for long-term shareholders.”

Revenue Share and Equity Benefits Detail
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Revenue share to agents increased 20% to $202 million in 2022. eXp Realty distributed more profit/revenue share benefits last year to agents and brokers than any other real estate brokerage model or platform. As part of our agent equity program, eXp World Holdings issued over 2.5 million EXPI shares to eXp Realty agents and brokers valued at more than $42.5 million.

About eXp World Holdings, Inc.

eXp World Holdings, Inc. (Nasdaq: EXPI) is the holding company for eXp Realty®, Virbela and SUCCESS® Enterprises.

eXp Realty is the largest independent real estate company in the world with more than 87,000 agents in the United States, Canada, the United Kingdom, Australia, South Africa, India, Mexico, Portugal, France, Puerto Rico, Brazil, Italy, Hong Kong, Colombia, Spain, Israel, Panama, Germany, Dominican Republic, Greece, New Zealand, Chile, Poland and Dubai and continues to scale internationally. As a publicly traded company, eXp World Holdings provides real estate professionals the unique opportunity to earn equity awards for production goals and contributions to overall company growth. eXp World Holdings and its businesses offer a full suite of brokerage and real estate tech solutions, including its innovative residential and commercial brokerage model, professional services, collaborative tools and personal development. The cloud-based brokerage is powered by Virbela, an immersive 3D platform that is deeply social and collaborative, enabling agents to be more connected and productive. SUCCESS® Enterprises, anchored by SUCCESS® magazine and its related media properties, was established in 1897 and is a leading personal and professional development brand and publication.

For more information, visit https://expworldholdings.com.

Safe Harbor Statement
The statements contained herein may include statements of future expectations and other forward-looking statements that are based on management’s current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. Such forward-looking statements speak only as of the date hereof, and the company undertakes no obligation to revise or update them. These statements include, but are not limited to, statements about the continued growth of our agent and broker base and expansion of our residential real estate brokerage business into foreign markets. Such statements are not guarantees of future performance. Important factors that may cause actual results to differ materially and adversely from those expressed in forward-looking statements include changes in business or other market conditions; the difficulty of keeping expense growth at modest levels while increasing revenues; and other risks detailed from time to time in the company’s Securities and Exchange Commission filings, including but not limited to the most recently filed Quarterly Report on Form 10-Q and Annual Report on Form 10-K.

Media Relations Contact:
Jennifer Zimmerman
eXp World Holdings, Inc.
mediarelations@expworldholdings.com

Investor Relations Contact:
Denise Garcia, Managing Partner
Hayflower Partners
investors@expworldholdings.com

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5 things you need to know about the world’s least developed countries

Three years after the world began to shut down as COVID-19 took hold, the UN and other partners will gather in Doha, Qatar, to deliver a historic new compact to support the countries whose vulnerabilities the pandemic most exposed.

The conference of Least Developed Countries or LDCs takes place every 10 years and this year’s meeting from 5 to 9 March 2023, known as LDC5, will focus on returning the needs of the 46 designated countries to the top of the global agenda and supporting them as they strive to get back on track to sustainable development.

1. What is a Least Developed Country?

The Least Developed Countries (LDCs) are countries listed by the United Nations that exhibit the lowest indicators of socioeconomic development across a range of indexes. All LDCs have a gross national per capita income (GNI) of below USD$1,018; compare that to almost $71,000 in the United States, $44,000 in France, $9,900 in Turkey and $6,530 in South Africa according to data from World Bank.

These countries also have low scores on the indicators for nutrition, health, school enrolment and literacy and high scores for economic and environmental vulnerability, which measures factors such as remoteness, dependence on agriculture and exposure to natural disasters.

There are currently 46 LDCs, the vast majority of which are in Africa [see box below]. The list is reviewed every three years by the UN Economic and Social Council. Six countries have graduated from LDC status between 1994 and 2020.

2. What are the challenges facing the least developed countries?

Today, the 46 LDCs are home to some 1.1 billion people, that’s 14 per cent of the world’s population, and more than 75 per cent of those people still live in poverty.

More than other countries, LDCs are at risk of deepening poverty and remaining in a situation of underdevelopment. They are also vulnerable to external economic shocks, natural and man-made disasters, communicable diseases and crucially climate change.

Currently, the planet is on course to warm by about 2.7°C this century, which would devastate LDCs. These countries have contributed the least to carbon emissions, and yet face some of the highest risks from climate change.

Meanwhile, LDCs are among those most affected by COVID-19; all but eight experienced negative growth rates in 2020 and the pandemic fall-out is predicted to last longer than in richer countries.

Debt is a major problem for all LDCs: four are classified as in debt distress (Mozambique, Sao Tome and Principe, Somalia and Sudan) and 16 LDCs are at high risk of debt distress.

As such, LDCs require the highest level of attention from the international community.

3. How can the United Nations and the international community help LDCs?

The UN system’s efforts to reverse the increasing marginalisation of LDCs in the global economy and to put them on a path to sustainable growth and development date back to the 1960s.

Since then, the UN has paid special attention to LDCs, recognising them as the most vulnerable in the international community and granting them certain benefits including:

• Development financing: notably grants and loans from donors and financial institutions.

• Multilateral trading system: such as preferential market access and special treatments.

• Technical assistance: notably, towards supporting trade.

The first LDC conference was held in Paris, France in 1981 and LDC5, marking the 50th anniversary was due to be held in March 2022, but was postponed to this year due to COVID.

4. What is the Doha Programme of Action?

The Doha Programme of Action (or DPoA, for acronym lovers!) is the development road map for LDCs agreed in March 2022.

It includes six key focus areas:

1. Eradicating poverty and building capacity.

2. Leveraging the power of science, technology, and innovation to fight vulnerabilities and to achieve the SDGs.

3. Supporting structural transformation as a driver of prosperity.

4. Enhancing international trade of LDCs and regional integration.

5. Addressing climate change, environmental degradation, recovering from COVID-19 pandemic and building resilience against future shocks.

6. Mobilizing international solidarity and reinvigorating global partnerships.

The full implementation of the DPoA will help LDCs to address the COVID-19 pandemic and the resulting negative socio-economic impacts and enable them to get back on track to achieve the SDGs including addressing climate change.

The full text of the Doha Programme of Action is available here in the 6 UN official languages.

5. What can we expect from LDC5?

The UN, LDCs, Heads of State and Government, development partners, the private sector, civil society, parliamentarians, and youth will come together to agree partnerships, commitments, innovations and plans in an effort to reach the SDGs.

The UN Secretary-General is due to address the conference and has already highlighted the importance of supporting LDCs.

“The Doha Programme of Action reminds us that global recovery depends on LDCs getting the support they need. They need bold investments in health, education and social protection systems — all the resources required to fully implement Agenda 2030 and the Sustainable Development Goals.”

As LDCs take the first step towards those goals, they will meet certain targets which will enable them to graduate from the least developed country status.

Six countries have gone through this process: Botswana (in 1994), Cape Verde (2007), Maldives (2011), Samoa (2014), Equatorial Guinea (2017), and Vanuatu (2020).

List of Least Developed Countries:

The following 46 countries were listed as LDCs by the UN as of March 2023:

• Africa (33): Angola, Benin, Burkina Faso, Burundi, Central African Republic, Chad, Comoros, Democratic Republic of the Congo, Djibouti, Eritrea, Ethiopia, Gambia, Guinea, Guinea-Bissau, Lesotho, Liberia, Madagascar, Malawi, Mali, Mauritania, Mozambique, Niger, Rwanda, Sao Tome and Principe, Senegal, Sierra Leone, Somalia, South Sudan, Sudan, Tanzania, Togo, Uganda, and Zambia

• Asia (9): Afghanistan, Bangladesh, Bhutan, Cambodia, Lao People’s Democratic Republic, Myanmar, Nepal, Timor-Leste and Yemen

• Caribbean (1): Haiti

• Pacific (3): Kiribati, Solomon Islands and Tuval

Source: UN News Service

Southeast Asia’s Largest Wind Power Plant To Be Built In Laos

The Asian Development Bank (ADB) and Monsoon Wind Power Company Limited, signed a 692.55-million-U.S. dollar loan agreement, to build a wind power plant in Laos.

Comprising 133 wind turbines, with a capacity of 600 MW, the Monsoon Wind Power Project will be the largest wind power plant in Southeast Asia, and the first in Laos, according to a report released by the ADB yesterday.

The wind power plant will be constructed in southern Laos’ Sekong and Attapeu provinces. Electricity generated by the plant will be sold to the state-owned Electricity of Vietnam (EVN).

Cross-border power supply has been a pillar of Laos’ economic growth. Harnessing the landlocked country’s untapped wind resources can provide energy diversification, as the seasonality of the wind resource is countercyclical to the rainy season, which supports the Lao hydropower generation.

The project will give a significant boost to decarbonisation and green growth. It will reduce annual greenhouse gas emissions by at least 748,867 tonnes of carbon dioxide, according to the report.

“Developing economies in Asia and the Pacific face shortfalls in climate investments that are needed to clear a pathway to green growth,” the report quoted ADB Private Sector Operations Department Director General, Suzanne Gaboury, as saying.

“The financing from ADB and its partners will help unlock Laos’ untapped wind resources, providing a basis for a transition to clean energy and green growth that will have lasting benefits for the economy,” the report said.

Source: NAM News Network