Visionary, Transformative Leadership
Glenn Sanford’s ascent from tech entrepreneur to real estate visionary epitomizes the power of innovation, resilience and forward-thinking leadership. As the Founder, Chairman and CEO of eXp World Holdings, the parent company of eXp Realty, he has redefined the traditional brokerage model and cultivated a culture of empowerment and collaboration that has propelled eXp to unprecedented success.
Glenn’s entrepreneurial journey began with a passion for technology and a knack for identifying emerging trends. He believes that “the best way to predict the future is to invent it,” a mantra that powers his entrepreneurial spirit and innovative mindset.
From his early ventures in developing accounting software to founding an ecommerce and logistics company in 1998, Glenn demonstrated a keen understanding of the digital landscape and its potential to disrupt traditional industries. However, it was his transition into real estate in the early 2000s that would mark a pivotal moment in his career. Recognizing the inefficiencies and limitations of traditional brokerage models, he set out to revolutionize the industry by harnessing the power of technology and innovation.
Launching for the Future
Glenn launched eXp Realty in 2009 with 24 agents and a bold vision: to create a cloud-based brokerage that transcended geographical boundaries and empowered agents to thrive in a digital age. The company quickly gained momentum, attracting top talent drawn to its innovative business model and agent-centric approach.
The infrastructure empowered real estate agents with more flexibility, avoiding traditional overhead costs and stagnant physical office locations. The company was uniquely positioned for the radical shift to virtual and remote work during the COVID-19 pandemic. While most businesses were learning to operate at a distance, eXp kept humming, operating with the collaboration, flexibility and transparency the company had built up for more than a decade.
Glenn explained his approach to innovation. “In 2009, we successfully launched the cloud-based, agent-centric brokerage model, which is now the model for many newer brokerage firms across the industry. As we iterate on the agent value proposition, our focus is to modernize our infrastructure for the next generation of real estate agents. Our cloud-based model and solid financial foundation enable us to continue investing in synergistic products and technologies that lay the groundwork for the future, while delivering an enhanced agent experience today.”
A Stake in the Game
Agents at eXp Realty are not just employees; they are shareholders and stakeholders in the company’s success. Through innovative equity programs and revenue sharing initiatives, agents have a vested interest in the company’s growth and profitability, creating a sense of ownership and alignment that sets eXp apart from its competitors.
Glenn says the goal was to build the most agent-centric brokerage that offered meaningful ownership in the brokerages they were part of and to provide a viable path to potential retirement for the vast majority of agents—closing a major gap he saw when he entered the industry. He believes eXp continues to deliver on that promise that was made to agents back in 2009.
Under Glenn’s leadership, eXp has experienced exponential growth and expansion. The company went public on the Nasdaq in 2018, signaling its emergence as a major player in the real estate industry. Since then, the company has continued to scale its operations, attracting thousands of agents and expanding into new domestic and international markets.
Between 2015 and 2018, the company experienced over 100 percent year-over-year growth. By 2019, eXp agents numbered 25,423, and by 2020, that figure surged by 63 percent to reach 41,313, then grew to 89,156 agents as of the third quarter of 2023. Facing economic downturns, the company still outperformed the market by 43 percent during the third quarter of 2023.
In the fourth quarter of 2020, eXp experienced a 122 percent increase in revenue. Then, in 2021, revenue more than doubled, growing $2 billion to $3.8 billion—an incredible 111 percent increase. The company came in at number four on the 2023 Direct Selling News Global 100 List, with a reported annual revenue of $4.3 billion.
In 2022 and 2023, eXp was awarded Bravo Growth Awards, which goes to companies with the highest percentage of revenue growth year-over-year. Also in 2023, the company was included on Glassdoor’s prestigious list of Best Places to Work list for the seventh straight year, ranking 22 out of 100 in the US Large Company category.
Always Improving
One of the hallmarks of Glenn’s leadership is his commitment to innovation and continuous improvement. By leveraging cutting-edge technology and data analytics, eXp is able to provide agents with best-in-class tools and resources to enhance their productivity and effectiveness.
Known for its interactive app and online campus, eXp announced in February a shift to an even more immersive experience for agents. Entering “exp.world” in a web browser or even a VR headset will take them to a personalized 3D environment to create an avatar, conduct meetings, network and take classes. Conversations in different languages can be translated with captions in real time.
Additionally, Glenn’s emphasis on education and professional development has helped eXp agents evolve along with rapidly-changing economic and technology environments. Through comprehensive training programs, mentorship opportunities and networking events, agents have access to the knowledge and support they need to succeed in their careers.
Looking Ahead
Glenn remains focused on driving growth and expanding impact on the real estate industry. With plans to further diversify its offerings and expand into new verticals, eXp is poised to continue disrupting the status quo and shaping the future of real estate.
His leadership journey is a testament to the transformative power of vision, innovation and perseverance. Through eXp, he has not only revolutionized the real estate industry but also empowered thousands of agents to thrive in a digital world.
In early April, eXp Realty named a new CEO, while Glenn will remain as Founder, Chairman and CEO of eXp World Holdings. It’s a fitting close to one industry-changing chapter in his illustrious career—and serendipitous timing to receive this year’s Bravo Leadership Award.
Upon receiving the award, Glenn reflected back on the creation of eXp and its disruption in the industry that many then viewed as crazy, closing by saying, “Doing something crazy long enough until eventually it didn’t become crazy—that really speaks to what leadership is.”
From the June 2024 issue of Direct Selling News magazine.
