eXp Realty continues to expand its footprint outside of the United States where it is headquartered to another location that is close to America’s heart: Puerto Rico! (Read the press release here.)
Puerto Rico, which has a population of approximately 3.2 million people, will be the 10th location in the world where eXp Realty has planted its brokerage flag. In addition to the U.S., eXp has real estate operations in Canada, the United Kingdom, Australia, South Africa, India, Mexico, Portugal, and France.
Additional countries and locations planned for eXp expansion by the end of Q1 2021 include Brazil, Italy and Hong Kong.
“The expansion into Puerto Rico represents our first strategic foothold in the Caribbean,” said Michael Valdes, President of eXp Global. “Puerto Rico is ideally positioned to benefit from the eXp model. Its tax incentives continue to attract a large number of foreign investments, creating a growing and robust real estate market in a territory that combines a rich culture and economic stability.”
eXp Puerto Rico’s Broker of Record is Ivelisse Lopez, who has more than 27 years of real estate leadership experience in Puerto Rico.
“Puerto Rico has a strong professional infrastructure for agents, and the addition of the eXp brand to the market represents an unrivaled opportunity. The technology and tools eXp Puerto Rico provides will empower agents to scale their business rapidly,” said Lopez.
Similar to the U.S. model, agents in Puerto Rico will benefit from eXp’s unique financial model for residential and commercial real estate agents, offering an attractive commission structure, and revenue share and equity programs that include opportunities for stock awards.