Hi everyone, Glenn Sanford here, and thank you so much for taking a little time out of your day to walk with me through the international version of EXP Explained. As I mentioned, my name is Glenn Sanford, I'm the founder of eXp Realty. We are really building the most agent-centric real estate brokerage on the planet. We have over 87,000 agents now and we are operating in 24 countries.
And we are a super engaged community. We are growing rapidly around the world. I mentioned 24 countries and we are really known for empowering agents. You'll obviously see some of the different places where we've grown and when we launched, but we are preparing to open a few more countries as well. I'm so excited about how all of this fits together and this journey.
But you know, why are we growing? You know, we obviously have a global presence. One of the great benefits is this global referral network, really powerful. We operate as a single company, which again is really incredible. And so we collaborate in unique and interesting ways that really give us advantages in learning, building new things, and making a difference not just in our communities but obviously for others in the real estate industry as well.
And so we decided to launch a new model on October 6, 2009, called eXp. And so that was kind of the history that led up to this. And the whole idea was that I wanted to build a real estate brokerage that I would want to work at for the rest of my life. If it already existed, if eXp existed back then, I would be an agent there. There's a lot of work in building a brokerage, don't get me wrong. There are a lot of things I liked about it, but the freedom and flexibility that our agents and self-performing brokers have on the eXp platform is literally invaluable.
And so I'm going to talk a little bit about that. You know, one of the big questions is how do you build a sustainable career in the real estate industry? In Australia, agents are known for having large rental portfolios. Basically, they are in the property management business as a way to retire, which is great. There's nothing wrong with that, that's how they do it. In other parts of the world, agents work part-time in real estate but full-time in other businesses and they are occasionally selling properties. In the United Kingdom, agents are hired at the lowest possible salary they could have and receive a small commission when they sell properties. And in other markets, agents have a 50/50 split with their brokerages and they are there doing all the work and the brokerage is getting half of the benefit.
And within that, there's also a challenge that these systems don't fundamentally create any kind of long-term benefit for the real estate agent unless they think outside the box. And so when we launched eXp, we said, how can we build a brokerage that as they help the brokerage grow, they can actually get significant benefits for helping the company develop, some of which will actually outlive their career of listing and selling real estate? You know, we have this phrase which is 'where professionals go to grow.' We have a disproportionate share of the top producers in residential real estate at eXp compared to any brand in the real estate industry. It's incredible when you start to look at the number of agents that have a disproportionate share of leads. That's because we really attract the best and the brightest.
Now some of you are in countries where we aren't very big yet, but you are strong agents, you have good influence, you know you could work anywhere, and you are looking to get involved with the next generation of real estate brokerages. Well, let me suggest that eXp could be that company. We are growing faster than any real estate brokerage in the world. We are a single brokerage in all 24 countries. We're not talking about a bunch of small franchise offices with various brokerage owners in each market. We're talking about a single company operating together and collaboratively to support you as an agent fundamentally in building the business of your dreams. And that is really what our commitment is, is to the success of the agent.
Now here I'm listing the compensation incentives to cover all international markets and what that means. What you see here on the screen means is the minimum amount of commission you will actually receive on a transaction depending on where you are. And the reason for that is that 70% in the United States and 80% in Canada, in every market we have a certain amount of additional costs to support the brokers providing CRMs, portal exposure, other technologies, a little bit of marketing, branding, coaching, training, and all the other tools and support that go on behind the scenes.
Additionally, we have our innovative revenue share and stock program, and that helps you build a long-term retirement in the real estate industry. And between those two, we retain to actually run the brokerage generally about 10%. This results in about 6% or 7% before really our expenses. And we are an open-book company, we trade publicly on the Nasdaq under the symbol EXPI, so you can go and look at our finances. We operate with a very thin margin and we are passing back like 99, well 97% of the net benefits to you as an agent through the systems, the processes, the tools, the technologies, and the compensation. And so we retain a small amount and operate with that very thin margin. In the end, it's incredible when you start to really look at the benefits and what you receive.
And the other thing is that we also have after the cap, it's really 90% or more. And if you do any kind of agent attraction in the eXp system, it's easy to get to 100% or more after the cap. And if you attract a larger number of agents, you are actually earning more than 100% effectively on every real estate transaction you do with eXp. It's incredible. I'll show you a little bit of the numbers, but it's one of the reasons, if not the main reason, why we are growing so fast.
And you know, in the end, you're going to want to get into the numbers a little bit, but look at the whole package, all the benefits and how they align to help you create an incredible business. You know, I mentioned we provide a lot of technology and a lot of tools. We have CRMs, portals, marketing platforms. And so we are also pioneering what I call a debit and credit system, which is basically the ability in certain circumstances to use our money upfront to support you and help with your marketing efforts. And then we would take some of those expenses out of future closings. So we really want to partner with you to build the business you want to build. I'm so excited, actually it's something we are just developing, but it's going to become more defined here in the coming months as we continue to implement it in different markets.
Cloud-based freedom. One of my four favorite wings is the four A's of business. I want to be able to work with any person, at any time, from anywhere, on anything. Now I know some of you speak other languages, so I hope this translates well when you watch the presentation in your language, but these four A's really represent personal freedom in growing your business from anywhere. And so you have low costs or even no fixed costs, there are no desk fees. We have a monthly technology fee that covers a set of basic level technology to be at eXp.
We have our cloud-based campus, which when you are with eXp, and even when you're not with eXp, you can access our international offices in every country. You can meet with brokers, other agents, and employees, have conversations, and learn in real-time with some of the best in the industry in this immersive virtual environment. We are also providing full servers for each country, so you can actually get into a Discord for the country you are in and collaborate with other agents in your market. And then there are other places where you can also connect. We have some great conferences that happen around the world, actually probably about three or four next year, and I would encourage you to attend as many of these events as you can because what I've found in my personal career is that the more events I attend with really strong agents or business people in general, the more my business is impacted in a very positive way. And that investment in yourself will bring returns throughout your life, so definitely do that.
This is just a quick slide, there's a video behind it, but I just want to tell you that we have proprietary technology that nobody else in the world has, including a platform called HomeHunter.global. And it's really a way to help your consumer deal with all the real estate sites they have to search to find properties in their local market. And so in the United States and Canada, we have what is called an MLS, and basically what that means is that every listing from every brokerage and every agent is generally shared through the same sharing platform called an MLS, and any agent can actually use that as a database or a marketing tool to generate potential buyers and also demonstrate to sellers the type of marketing efforts they offer by doing great marketing through the MLS, which is then extended throughout the agent network in your market.
Outside of North America, this doesn't exist. And what that does is create a challenge for consumers because they have to navigate two, three, four, five sites to find properties that are available for purchase in their market. Some of them are for-sale-by-owner sites, some are the main portals that are super expensive, and then you have second and third-tier portals that are less expensive, and then there are even free places they might need to go and look. And this tool, the HomeHunter.global tool, which is exclusive to eXp, will allow your client, your consumer, to really keep you in the spotlight for them. And it gives you a way to advertise your listings even when they go and look at other portals. So it's a really cool technology. We've licensed this worldwide exclusively, so you're going to want to take a look at it.
Training and development. We have some of the best trainers in the industry. Now some of you, if you've been in the business for a while, might remember people like Tom Hopkins. We bought the perpetual worldwide rights to all of his real estate sales trainings. Now we've updated that, we've updated everything, and so within eXp you can really take advantage of that and so many current things, what's working now, techniques, whether it's scripts, dialogues, marketing, social media, whatever you want. There's a ton of incredible things you can learn at eXp. We have specialized learning paths, we have a cheap learning and a director of development who is creating incredible learning paths. We have coaching and mentoring. We have, and actually we are totally focused on helping you elevate your business.
You know, obviously we have compliance and local expertise. So this is not a company where your broker is sitting in another country trying to figure out how to help you do business in your country or region. Our teams are in the market with you. They are actually selected and also continuously evaluated by our own agent base, by our local agent advisory councils, and these are the people who are in the market supporting you and helping you stay out of trouble and close deals. And it's really powerful what we have.
You'll see just an image here, but one of the platforms we have is a platform called eXp World, and literally what it is is a metaverse that actually works. I've been working with metaverse technology since 2009 in the real estate industry. I am the largest user of a corporate metaverse, and what that means is that we've built a digital city where you can go to all kinds of different places to learn things. We just launched one on innovation where you can, and we have experts who are going to teach you to use the latest in AI to create things beyond just generating emails or marketing campaigns. It's going to really help automate your entire business workflow, and we have a team that will teach you within eXp World how to do that. It's incredible, I'd love to show you. Actually, we have our innovation hub running within that. It was important for the international team, I have that running within our international office in eXp World. So when you enter the international office, you can actually go and learn the latest in AI, incredible things.
Collaboration tools. Now if you are young and know where people really organize, it's on platforms like Discord. It's not Facebook, it's not Slack, it's not some of these other tools that have been out there for years. Discord, which came out of the gaming community, is now the real collaboration tool for the companies of the future. There are so many different things that are going to make your life incredible. We have channels, we have different places where we can collaborate, share our screens. Instead of playing games, maybe we've set up work rooms where we are actually working on our CRMs, making calls, doing the things we do in the real estate industry. But we can really build these things within channels on Discord. It's pretty incredible, you have to see it to believe it. But Discord is an important tool in how we collaborate. We have many, many different servers that you will be able to join over time as we build them. So we have an eXp Flow server to basically teach more about the team side and how to really build collaborative teams. But if you are building a team, it might be a place you want to stop and learn. We have the eXp Innovation Hub, which is also on a Discord server where you can learn the latest in AI and innovation. We have our international server, and of course, in addition, we have our country-based servers and many more are coming to support you and your business.
It's an incredible tool. You can walk around with actually the most powerful office in your pocket, on your phone, available at any time to be in business with you. So some people say, 'Hey, I really need an office, I don't like this cloud thing, this cloud thing doesn't make sense.' We are the first and only in the entire world, actually even nationally in the US and Canada, largest real estate brokerages in the world to partner with Regus. Each of our agents actually receives a Regus card. You need to fill out a small form for this, but you get into the system and as soon as you are in the system, you can use any of the open areas at Regus at no cost to you. So you can get in, use the Wi-Fi, have some basic drop-in meetings. But if you need a private conference room or meeting room or office, even if it's just for an hour, you can actually get it for a cheaper price than the public would pay to use those same spaces. So we've partnered with Regus, it's an incredible partnership. Instead of not having an office, you have access to 6,000 offices around the world. And if you don't know how powerful that is, type the word Regus and the cities near you and you will be impressed with how many offices we have available for you with our Regus partnership. It's really incredible.
Ownership and growth. Okay, so we talked a little bit about revenue share and equity participation, but we fundamentally started as an agent-owned business. I'm super proud of this. I never took money from Wall Street or private institutions or family offices. I built this from scratch, but I did it with one thing in mind: I wanted agents to be shareholders side-by-side with me as the founder of the company. And so in 2013, 2014, we finally put all the pieces in place to make that a reality. And that's how we became a public company, not by being bought by a public company, but by buying a public company and merging into it and then distributing shares. So in 2014, shares were trading at five cents, now it's $12.01 a share today, and we are super excited about where it's going to go in the future. We think there's a lot of potential. But one share, and so don't take this as anything more than just my belief that we are building an incredible business. And if we can build an incredible business, it's very likely the value of the equity participation will grow over time. And our agents are really our partners, they're not just stakeholders, they really help in so many different ways. And this of being an owner, when you are an owner, you show up for the business you are involved in in a completely different way than when you are just an employee. We all know that if you are the owner, you take responsibility for it. And at eXp, our agents really take responsibility, and that reflects in how we show up every day.
We have a luxury division, we have other specialized divisions. The eXp luxury brand has actually started to grow internationally. So we have a lot happening there, a lot of support services, transaction support, marketing support. The AIs we are developing for our agents now are incredible. You will have tools you could only imagine having in your business with expensive humans, you'll be able to get that with uploads and typing, having support within eXp totally compliant and supportive for your business wherever you are in the world. Totally compliant, totally supportive for your business wherever you are in the world. Some pretty incredible things.
eXpCon Miami. That is our big event every year. This year it's in Miami, Florida. I'm not sure when you're going to watch this video, but I think in the next couple of years we'll be in Miami, and then I don't know where we'll go next. We also have different eXpCons around the world. So we just did one in Lisbon, Portugal. I believe we're going to work on doing one in South Africa. I believe we're also going to work on doing one maybe in a few years in Australia. But we're going to have an eXpCon happening around the world. And then we also have the eXpCon Canada. So many different eXpCons that you can take advantage of.
I mentioned the equity opportunities, but also our revenue share model. Together, actually the whole idea is that this is a path to potential financial freedom. I say potential because in the end it really depends on your efforts whether this works or not. But if everything fits together and you put in the right types of effort, this can be an incredibly rewarding opportunity. We just launched, pretty exciting, I think it was in June, we launched the Revenue Share 2.0 program. And what that means is that for over 14 years we had a single program, we had done Revenue Share 1.0 which started in 2009. In 2019 we did what I'm going to call Revenue Share 1.5, and this year we launched Revenue Share 2.0. And when you dig into this, basically what it means is that it creates a really incredible path for an average agent to earn income at multiple levels of agents as they continue to build, to encourage them to build large organizations within eXp. And so when you start to really play with the numbers, you're going to earn income when you attract agents in your first three levels of agents. So if I attract you, you attract another person, you attract another person, and then you attract another person, the next three people below you, you're going to earn income when they close real estate transactions. So it's a pretty incredible model, it's very simple.
And so based on values that are not paid by our revenue share system, we reserve 10% of the company's money until the agent hits the cap. And I didn't talk about what the cap is, but basically once you've paid the company a certain amount in your country, you go from 70% to 90% or more, and in some markets it's actually 100% with some transaction fees. And when you start adding the revenue share, that's where you can get to 100% or more. So it's pretty, pretty incredible how that works. If you are a top agent, if you are in the top 1%, 2% of agents in your market, we want to give you back your cap in the form of stock, and we want to bring you to eXp. We want to give you stock, publicly traded stock on the EXPI, as an icon, as a way to thank you for being at eXp, but also to thank you for contributing. So part of the stock award is tied to helping the next generation of agents improve in the business. And so it's an incredible program. Again, the details in each country are a little different, but we have this program in all markets. You qualify automatically for this based on your production level.
We are also very focused on social impact, diversity. We are obviously a global company. We all live on the same planet together. We want to take responsibility for that. And so we have charity initiatives, we have the commitment to ensure we are well represented around the world. Community engagement, environmental responsibility, and ethical conduct make sense. Who wouldn't support these values? But at eXp, we want to put these values into practice. Paper, or in this case, a presentation. So you know that we really value these things. All of us are part of the community, we are all there to help sustain not just the planet but our businesses. And of course, real estate agents, it's an honorable profession, and if you treat it with honor and are ethical, those are the types of agents we want at eXp.
So if you are ready to elevate your career, definitely take the first step and join our network. There will be some links somewhere, depending on who sent you this, for the country you are in. In the meantime, I want to encourage you to go online and search for eXp Realty International. You can check out our international eXp offices, and you can actually find this. You can go to the web and you can access x.world/international and you can actually enter our global office. Now, there might not be staff available during all hours of the day, it will be like that as we continue to expand around the world, but we are there during the week supporting agents and businesses that are growing around the world. We also have the Discord server, and if you enter the virtual world, there will be a link on the wall near the welcome area that you can click to actually join our local Discord server for international. And from there we can help you connect with the right people.
So with that, let me say goodbye. Thank you so much again for taking time out of your life, out of your schedule, to watch this presentation. I hope you got a lot of value out of it by learning about eXp, and I really hope I have a chance to meet you. You know, now I'm helping with the international team, so you'll find me at eXp World/international, find me on the Discord server, send me a direct message, look me up in the world. I would love to meet you, love to support you in your business. And with that, I want to wish you an excellent day wherever you are, and thank you again for watching. Okay, bye.
