EXP agents own 15%-20% of company stock: CEO Glenn Sanford
The reasons that an agent choses a specific brokerage are myriad. Some boast their technological prowess, others name recognition, but eXp Realty offers something relatively unique: stock in the company.
Glenn Sanford, CEO of eXp World Holdings
“About 15 percent to 20 percent of the company is agent owned,” eXp World Holdings CEO Glenn Sanford told the crowd of attendees at Inman Connect in San Francisco during an indie brokerage summit.
Agents can earn equity in a number of ways: they receive a small amount of stock after completing their first transaction, or a small amount of stock if they attract another agent. But they can also contribute 5 percent of their commission to buy stock at a 20 percent discount.
The unique lure has paid major dividends for eXp Realty. When the company launched the program in 2013, it went from 50 percent year-over-year growth to more than 100 percent year-over-year growth.
“We wanted to make another form of compensation that nobody else had,” Sanford said. “Nobody can actually put a share of stock, generally speaking, in the agents’ hands in a large quantity. That, for us, was a differentiator.”
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