SOURCE: eXp Realty International Corporation

eXp Realty International Corporation

SOURCE: eXp World Holdings, Inc.

eXp World Holdings, Inc.

May 06, 2016 11:17 ET

Real Estate Brokerage Division Appoints CEO and President

BELLINGHAM, WA --(Marketwired - May 06, 2016) - eXp World Holdings, Inc. (OTCQB: EXPI) announced today that it has appointed Jason Gesing Chief Executive Officer of its real estate brokerage division and Vikki Bartholomae as division President.

Bartholomae has over 15 years of real estate industry experience, including more than 6 years as a Team Leader in the Keller Williams organization, during which time she achieved net agent gain of 192% and gains in both agent production (47%) and profit (56%) in the market centers she managed in Southern California and Texas. Bartholomae also has extensive experience in the coaching and training of real estate professionals, which includes the development of mentor programs for new agents. Bartholomae joined eXp Realty in Houston, Texas, where she now resides, in July 2015.

"Becoming part of eXp Realty, was a defining moment for me both personally and professionally," said Bartholomae. "It is so exciting to be part of the future of the industry I love. eXp's business model is completely disruptive in real estate by eliminating bricks and mortar and giving the agents true ownership in the company. My role as President gives me the opportunity to serve my agent ownership partners and bring about revolutionary change to our industry at the same time."

Gesing, who joined eXp Realty in 2010, became EXPI president in October of 2013. Since that time, the Company's brokerage division has increased its family of real estate professionals from approximately 300 to more than 1,200 and the Company's revenues have increased from $10.7 million (2013) to $22.87 (2015).

"The eXp Realty business model offers unique and empowering professional development and wealth-building opportunities to real estate professionals because of the Company's innovative use of technology," said Gesing. "However, as beneficial and lucrative as the model is, people are joining us because we've been able to create an environment and a community that entrepreneurial agents want to be a part of. It's a community of professionals who work very closely together, who support one another, and whose voices are and will continue to be heard, both as agents and brokers of the company, and as its shareholders."

"I am very excited about Jason and Vikki working together to steward the real estate division of eXp World Holdings," said EXPI Founder and CEO, Glenn Sanford. "Jason and I have been working closely together over the last three years and he has really articulated the value proposition in a way that resonates with those who are making meaningful differences in the industry. I have also been very impressed with the way Vikki has selflessly engaged with the Company from the moment she joined, serving to improve and grow the organization even when her role with the company was not well defined. Vikki possesses and has demonstrated great strength and tremendous talent and it quickly became clear that she needed to play a much larger role in the leadership of the company. I believe, based on my observations over the last six months in particular, that Jason and Vikki working together to lead the real estate division will result in even greater differentiation of the agent ownership model relative to the rest of the industry. I fully expect that the culture of the company will continue to strengthen and that the growth of the company will continue to accelerate."

Vikki Bartholomae can be reached at vikki.bartholomae@exprealty.com or at 714-273-6041.

About eXp World Holdings, Inc.

eXp World Holdings, Inc. is the holding company for a number of companies most notably eXp Realty LLC, 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 90.5% of First Cloud Mortgage, Inc. a Delaware corporation launched in 2015 and now licensed to originate mortgages in Arizona, California, New Mexico and Texas.

The corporate name change to "eXp World Holdings, Inc." has been approved by our Board and stockholders but is not yet effective, pending the mailing of a definitive information statement to our stockholders in accordance with applicable rules and a 20-day notice period thereafter.

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 investors.exprealty.com or www.exprealty.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.

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