BELLINGHAM, WA: eXp Realty International Corporation, the Agent-Owned Cloud Brokerage™ today released its third quarter financial results.
Financial Highlights
Revenues for the quarter of $7.42 million, up 91% year over year
Net income for the quarter of $1.5 million compared to a loss in the prior year
Agent count up 79% over Q3 2014 to 770 agents
eXp Realty generated net revenues of $7.42 million for the third quarter ended September 30, 2015, a 91% increase as compared to $3.88 million in the same period in the prior year, and a 33% increase over the $5,584,963 reported this past quarter.
The Company earned net income of $1,509,720 for the period, versus a loss of $30,325 in the third quarter of 2014 and a net loss of $4,998,154 million in the second quarter.
The increase in revenue is a direct result of the increased sales agent base and higher sales volume realized. An additional 102 agents joined the Company during the third quarter, raising the total number of eXp Realty agents to 770 across 31 states and Alberta Canada.
Glenn Sanford, the Company’s Chairman and Chief Executive Officer, commented on the Company’s performance, “eXp’s record results reflect our dedication to providing real estate professionals with the tools and infrastructure necessary to maximize their earnings potential. Not only do they benefit from a wide array of services and support, but our unique agent-owner business model is ideally suited to the driven, entrepreneurial agents we continue to attract.”
