Hybrid estate agency eXp UK has now signed up more than 400 estate agents with the firm expected to expand further this year, the company has revealed.
Launched in November 2019, the digitally-focused platform initially signed up 50 agents but by The middle of last year had 300 agents on board, as more agents seek self-employment with a view to managing their own business.
eXp UK allows individuals to trade with their own ‘name above the door’, but charges agents up to 30% of the commission they generate in exchange for access to its business support package and branding.
eXp UK has been actively looking to expand its presence across the country by signing up more self-employed agents to business model. The business pledged last year to reward top-selling agents with stock awards worth up to £16,000.
The company launched an ICON award, an initiative that recognises agents who ‘cap’ and then deliver a further 40 transactions, or those agents who achieve a gross commission income of at least £400,000 involving a minimum of 10 transactions, within a 12-month period.
The awards package includes £16,000 of gifted shares to the agent, at eXp World Holdings – £8,000 is first awarded in stock and vests for three years, with the other £8,000 being awarded upon the successful agent taking part in various cultural events, including training others in the art of becoming an ICON agent, and attending in-person events.
For those who may be considering the move, the eXp UK Roadshow will take place in June. With a raft of special guests, eXp UK will be visiting Edinburgh, York, Manchester, Bristol, Birmingham and London, with further details to be announced at a later date.
The head of eXp UK, Adam Day, commented: “It’s quite extraordinary to think that from such humble beginnings just over three years ago and with a handful of agents on board, eXp UK has accelerated to one of the UK’s largest estate agency businesses in such a short period of time.
“The flexibility and increased earning potential that the self-employed model provides has no doubt been a contributing factor in this journey. But it’s a combination of the support, technology, innovation and culture of the eXp offering that really sets us apart from the other competitors in the space who have so far failed to replicate what we’ve achieved.
“We’re certainly not done yet and we expect our ongoing expansion plans to further bolster the eXp team sheet over the coming year. For those who might be considering a change, our summer roadshow is not to be missed and we look forward to seeing old faces and new for what is shaping up to be a schedule of fantastic events.”
