In some ways, a recent board meeting at eXp World Holdings, Inc. was like many other board meetings I have “attended” with different companies over the years … first small talk among those early arrivers, including informal conversations between board members and management before the formal agenda follows with discussions of operations and strategy. But this meeting was being held in the cloud.
I sat at my laptop and lent my voice to the avatar I’d created to approximate my appearance … or a close facsimile thereof. My avatar sat in the executive boardroom on our virtual campus environment along with fellow board members ranging from Calgary to Boston to Austin. We actively worked with the avatars of our CEO in Seattle, our CFO in Reno, Nevada, our COO in Scottsdale, Arizona, and our CTO in Albany, New York. Our objective was sustainable growth for our publicly traded company.
Founded in 2009 by visionary CEO, Chairman and Founder Glenn Sanford, eXp Realty is a real estate company like no other. With virtually no brick and mortar, the company has attracted an amazing number of professionals who help people looking for the brick and mortar of their dreams. The growth of this industry upstart has been mind-blowing. Since its first year in operations as a public company in 2013 with $10.7M in revenue, eXp Realty actually has seen its growth rate accelerate—to $13.4M in 2014 (up 25% year-over-year), to $22.9M in 2015 (up 71% year-over-year), to $54.2M in 2016 (up 137% year-over-year), and to $156.1M in 2017 (up 188% year-over-year). Results to date in 2018 continue to be strong.
And, yes, this is a company that operates in the cloud with state-of-the-art avatar technology where individuals meet in virtual offices and hundreds gather together in the company’s auditorium to conduct company business.
I’ve always been drawn to companies pushing the envelope on how people can be more productive. In the 1990s, I was recruited by AT&T and served as President, Global Services. Harvard Business Review wrote about our innovative use of the virtual office design. In the 2000s, Ari Horowitz recruited me to serve as president at startup OPUS360, a company that enabled the project-based labor market with FreeAgent.
But neither of these companies can hold a candle to the new vision of work at eXp Realty.
“eXp Realty is transforming the real estate experience. Our virtual office environment compared to the traditional real estate office allows agents to collaborate and learn together—no matter where they might be located,” said Glenn Sanford, CEO, chairman and founder of eXp World Holdings. “Our agents can interact, share best practices and learn from industry experts and other top professionals at any time or any place—in real time.”
Specifically, at eXp Realty, I have seen the following commitments to excellence that raise the bar as we push ourselves by asking important questions:
I am proud to be part of this organization in my role as an independent board member working with Glenn and the rest of the team. I am excited about the future and believe we will continue to push the envelope in support of our people and sustainable growth by asking the right questions.