eXp World (EXPI) Stephens Annual Investment Conference summary

Company overview and platform evolution

• Grew from 30-40 agents to nearly 84,000 in 28 countries, transforming the brokerage model through a cloud-based, tech-driven platform.

• Eliminated the need for physical offices, focusing on digital collaboration, community, and AI-powered tools in multiple languages.

• Initiatives like FrameVR and ConnectHub foster virtual community and collaboration, supporting global agent engagement.

Agent growth, team structure, and retention

• Team-based agents now make up about 40% of new joiners, with multi-market expansion enabled by a centralized platform.

• High-performing teams show low churn (2% annualized) and drive strong unit economics, especially in down markets.

• Attrition improved 18% year-over-year, supported by investments in training, productivity tools, and a value stack that reduces agent OpEx.

• Community is maintained through frequent events, both virtual and in-person, with 2026 set as the "year of the event" to boost human connection.

International and commercial expansion

• International revenue surpassed $100M, up 68% YoY, with a refined, cost-effective playbook for new market entry.

• Now present in 28 countries, focusing on both growing existing markets and launching new ones, with leadership quality prioritized over market size.

• Commercial arm leverages national contracts and tech to compete with major players, with international commercial efforts in early stages.