eXp World Holdings expands real estate operations into Puerto Rico
Bellingham, Wash.-based real estate firm eXp World Holdings Inc. has expanded into Puerto Rico, under the eXp Puerto Rico name.
The firm is already doing business in Puerto Rico, which is the first global market that eXp Global has identified for expansion during the first quarter of 2021. Brazil, Italy, and Hong Kong are also set to launch this quarter, the firm stated.
The firm has more than 43,000 agents across the globe and will now add a Puerto Rico team.
“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 possibilities.”
eXp Realty offers a financial model for residential and commercial real estate agents, going beyond commissions to provide its agents with an opportunity to earn additional income by helping the company to grow its revenue base anywhere in the world, it explained.
Ivelisse López, broker of record, will head eXp Puerto Rico’s operations. López brings 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 provide will empower agents to scale their business rapidly,” said López.