eXp World Holdings, Inc. Appoints Industry Veteran as Its New President

BELLINGHAM, WA--(Marketwired - September 23, 2016) - eXp World Holdings, Inc. (OTCQB: EXPI), owner of eXp Realty, the Agent-Owned Cloud Brokerage®, today announced the appointment of Russ Cofano as its President and General Counsel, effective immediately. Prior to being appointed President and General Counsel of eXp World Holdings, Inc., Cofano was the Company's Chief Strategy Officer and General Counsel dating back to July 29, 2016. Jason Gesing, who previously served in the role of President of eXp World Holdings, Inc., will continue to serve as Chief Executive Officer of eXp Realty.

"Speaking on behalf of myself, the Board of Directors and the rest of the Executive Team we are very excited about yet another great beginning to a new chapter in the growth of the eXp World Holdings family of companies," stated Glenn Sanford, CEO and Chairman of eXp World Holdings, Inc. Glenn Sanford continued, "Russ Cofano with his deep understanding of organized real estate is such a welcome addition to all of us. Russ will be providing industry leadership to the continuation of the vision that has been championed by so many here in the company including our wonderful Jason Gesing, CEO of eXp Realty. I am further amazed at the thoughtful, selfless leadership that Jason and the rest of the team have enthusiastically demonstrated in welcoming Russ to the team. Our collaborative mindset of putting the agent and broker owners first is what drives all of us and this move continues to reinforce that vision."

Prior to joining eXp, Cofano was Senior Vice President of Industry Relations for Move, Inc., operator of realtor.com from June 2014 through September 2015. At Move, Cofano was instrumental in reinvigorating realtor.com's relationship with MLSs and associations and was a key influencer in realtor.com product improvements. Prior to Move, Cofano served as Chief Executive Officer for the Missouri REALTORS from June 2011 through June 2014. In just three short years, Cofano super-charged the association with a re-energized staff, new strategic plan, innovative member focused governance structure, private member-only social network, and implementation of a new governmental affairs program for local markets. Prior to his stint in Missouri, Cofano was Vice President and General Counsel to Seattle-based John L. Scott Real Estate, consistently ranked as one of the largest real estate brokerage companies in the nation, and helped JLS weather the great recession.

About eXp World Holdings, Inc.

eXp World Holdings, Inc. is the holding company for a number of companies most notably eXp Realty, the Agent-Owned Cloud Brokerage® as a full-service real estate brokerage providing 24/7 access to collaborative tools, training, and socialization for real estate brokers and agents through its 3-D, fully-immersive, cloud office environment. eXp Realty, LLC and eXp Realty of Canada, Inc. also feature an aggressive revenue sharing program that pays agents a percentage of gross commission income earned by fellow real estate professionals who they attract into the Company.

eXp World Holdings, Inc. also owns 89.4% of First Cloud Mortgage, Inc. a Delaware corporation launched in 2015 and now licensed to originate mortgages in Arizona, California, Virginia and New Mexico. First Cloud Mortgage has positioned itself as a Planet Friendly Mortgage Company via the purchase of carbon offsets for homeowners offsetting the first year of the Carbon Footprint of the typical home on each mortgage originated through First Cloud Mortgage, Inc.

As a publicly-traded company, eXp World Holdings, Inc. uniquely offers professionals within its ranks opportunities to earn equity awards for production and contributions to overall company growth.

For more information you can follow eXp World Holdings, Inc. on Twitter, LinkedIn, Facebook, YouTube, or visit eXpWorldHoldings.com. For eXp Realty please visit: eXpRealty.com and for First Cloud Mortgage, Inc. check out FirstCloudMortgage.com.

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 Company's expansion, revenue growth, operating results, financial performance and net income changes. 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 Annual Report on Form 10-K.