Benzinga | Nov 11, 2020 09:07AM EST

eXp World Holdings Reports Expansion Of Commercial Real Estate Operations For Co.'s Commercial Unit Into 35 States

eXp World Holdings, Inc. (NASDAQ:EXPI), one of the fastest-growing residential and commercial real estate companies in the country, today announced the expansion of its commercial real estate operations for eXp Commercial into 35 states. eXp Commercial expects to be in all 50 U.S. states by the end of 2020.

"eXp Commercial is attracting top-producing agents with its innovative cloud-based environment and attractive economics for agents and brokers," said Glenn Sanford, Founder, Chairman and CEO of eXp World Holdings. "By the end of 2020, we expect to extend eXp Commercial's reach into all 50 states, and look forward to welcoming many more agents from across the country into the commercial business."

Through the company's unique financial model, eXp Commercial offers commercial real estate agents compelling incentives, such as one of the most competitive commission packages in the real estate industry and opportunities to earn stock awards. Additionally, eXp Commercial agents and eXp Realty agents can collaborate for referrals, which also provides proprietary marketing resources, including the company's cloud-based virtual environment and a customized technology platform. Technology from CoStar will also be made available to enhance virtual prospecting, sales, training and communications.

eXp announced plans to expand into the commercial real estate industry at the end of the second quarter 2020. In September, eXp World Holdings announced that James Huang, an industry veteran with more than 20 years of commercial real estate experience, was appointed as President of eXp Commercial.

"Agents all over the country have recognized that the eXp model positions them for market success, despite challenges brought on by the global pandemic," said Huang. "This year, many commercial brokers have been forced to cut spending and operations. Agents that have adopted the eXp model have very low overhead and no need for a brick-and-mortar location. We firmly believe that this is the right time to build on the success of eXp and to earn new business."

To learn more about eXp Commercial, visit www.expcommercial.com.