eXp Realty Is No. 1 in Transactions on RISMedia Top 1,000 Power Broker Report for 2023
Despite a rollercoaster real estate landscape in 2022, eXp Realty continued to show strength and resilience as it landed No. 1 in transactions on the 2023 RISMedia Power Broker Top 1,000 Report. This is the fourth straight year eXp Realty has ranked among the top five brokerages in the country.
In addition to its No. 1 ranking in sides, eXp Realty ranked No. 4 for residential home sales in the U.S., a list calculated from a survey of more than 1,000 brokerages. RISMedia’s Power Broker Survey is the industry’s longest-running, preeminent ranking by residential sales volume and transactions.
In this year’s results, eXp Realty reported $159,135,775,182 in total closed residential sales volume, 397,138 in closed residential transaction sides and 86,203 agents as reported in eXp’s financial results for full-year 2022.
RISMedia wrote, “… real estate professionals jumped ship for firms that might sustain them through the downturn. This resulted in eXp Realty surpassing longstanding leaders HomeServices of America and Anywhere Advisors (formerly Realogy) to grab the No. 1 spot in transactions. eXp’s agent-centric model led to an increase of more than 10,000 agents for the firm in 2022 versus 2021, which helped fuel its rise to the top of the transaction ranking.”-RISMedia
“We continue to focus on creating a very agent-centric real estate brokerage model,” eXp Realty CEO Glenn Sanford told RISMedia. “We did cut some costs last year because the market was slowing down quite a bit, and outside of that, it was really about continuing to figure out what agents were looking for.”
In 2022, eXp World Holdings reported record full-year revenue of $4.6 billion, a 22% year-over-year increase driven by 21% agent growth.
The RISMedia Power Broker Report stated in its findings a decrease of more than $220 billion in sales volume compared to the previous year, mainly due to the Fed’s attempt to battle inflation. As a result, interest rates nearly doubled and a lack of inventory kept potential sellers on the sidelines. RISMedia reported 670,000 fewer transactions compared to 2021.
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