eXp World Holdings, Inc., the parent company of eXp Realty, announced its expansion into Puerto Rico. The company’s more than 43,000 agents already have a presence in Australia, Canada, France, India, Mexico, Portugal, South Africa, the U.S. and the U.K.
“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.”
The company’s Puerto Rico operations will be led by Ivelisse Lopez, who brings more than 27 years of real estate leadership experience.
“Puerto Rico has a strong professional infrastructure for agents, and the addition of the eXp brand to the market represents an unrivaled opportunity,” said Lopez. “The technology and tools eXp Puerto Rico provides will empower agents to scale their business rapidly.”
Additional international expansion is expected in Q1 of 2021, when the company plans to launch in Brazil, Italy and Hong Kong.