eXp Realty and New Story Raise More Than $600K to Build 100 Homes in Morelos, Mexico

BELLINGHAM, Wash., June 09, 2022 (GLOBE NEWSWIRE) -- Through a joint initiative with international nonprofit New Story, eXp Realty has surpassed its goal to raise $600,000 to build 100 new homes in Morelos, Mexico. The eXp fundraising effort began in May 2021 as a response to a 7.1-magnitude earthquake that devastated Morelos, Mexico in September of 2017.

From June 9-11, eXp Realty leadership – along with an eXp real estate agent and contributor who won a company raffle to attend the trip – will visit the region to see the homes that the donations made possible. Glenn Sanford, eXp World Holdings Founder, Chairman and CEO, personally matched $300,000 in contributions.

“I am so proud of our eXp Realty agents, brokers and staff for their generosity and support of this life-changing initiative,” Sanford said. "It is rewarding to see the impact of our efforts to provide housing that will transform this community."

An estimated 1.6 billion people throughout the world currently live in inadequate shelter. New Story aims to change that with innovation and through partnerships such as eXp Realty. Working with local partners, New Story transforms communities with safe, sustainable homes using Ecoblock. This resilient building material made from compressed earth is four times stronger than traditional cinder blocks, is more affordable than traditional construction materials, easier to reuse and creates less waste. The construction approach also fueled the local economy by sourcing local material paid at fair prices.

eXp Realty is headquartered in the United States and opened brokerage operations in Mexico in November 2020. It was the first Spanish-language country in the global expansion for eXp Realty and the perfect fit for the company’s community-based culture.

“New Story is honored to partner with eXp Realty,” said Brett Hagler, Founder and CEO of New Story. “Their commitment to excellence and innovation perfectly mirror our DNA as an organization, and their generosity will now empower hundreds of people with the life-changing gift of a forever home.”

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 fastest-growing real estate company in the world with more than 82,000 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 and New Zealand 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.

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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; expansion of our residential real estate brokerage business into foreign markets; demand for remote working and distance learning solutions and virtual events; development of our commercial brokerage and our ability to attract commercial real estate brokers; and revenue growth and financial performance. 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.

About New Story
New Story is a non-profit working to create a world where no human being lives in survival mode. The organization currently works in Mexico, Haiti, El Salvador, and Bolivia where they have funded more than 2,500 homes for families in need. Their 100% model ensures every penny of each donation goes to building homes while their organization overhead is covered by private donors. Learn more at newstorycharity.org.

CONTACTS

Media Relations Contact:

eXp World Holdings, Inc.
mediarelations@expworldholdings.com

Investor Relations Contact:

MZ Group – MZ North America
investors@expworldholdings.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/1e1cebfc-176e-49be-b038-de4eecc77592