Earlier today, eXp World Holdings, Inc. (OTCQB: EXPI)
announced the addition of industry veteran Russ Cofano to its management team.
Cofano will serve as EXPI’s chief strategy officer and general counsel moving
forward.
“I have been looking for ‘the next great opportunity’ within
the industry, and I’m certain that I’ve found that opportunity at eXp,” Cofano
stated in this morning’s news release. “Unlike other new entrants, eXp is
redefining the brokerage model of the future from within. Glenn Sanford has
assembled a fantastic team and I’m excited to join them and use my various
industry experiences to help the company chart its course of success.”
In total, Cofano brings more than 25 years of industry
experience to the EXPI team. In recent years, he has served as senior vice
president of industry relations for MOVE, Inc., operator of a network of real
estate websites that attracts more than 30 million monthly visitors, including
REALTOR.com®. Cofano’s duties in this role included developing strategy and
business relationships with leading organizations within the real estate
industry, as well as multiple listing services (MLS) and technology firms. In
addition to his work with MOVE, Inc., Cofano has also served as chief executive
officer of the Missouri REALTORS®, the largest trade association in the state
of Missouri, and as vice president and general counsel for John L. Scott Real
Estate, which was consistently ranked among the largest real estate brokerages
in the country.
“Russ brings a wealth of experience and industry knowledge
to the Company from multiple perspectives,” Glenn Sanford, founder and chief
executive officer of EXPI, added in the news release. “We’re fortunate to be
able to add Russ to our team and believe he will have an immediate and lasting
impact on the Company as we continue to grow.”
EXPI has continued to build on its success in expanding the
reach of its Agent-Owned Cloud Brokerage™ in recent weeks. In mid-July, the
company launched eXp Realty in New Jersey, bringing its total national presence
to 43 states and the District of Columbia. eXp Realty is also operational in
Alberta, Canada. Additionally, the company is now listed in more than 105
unique MLS, and its network includes more than 1,400 real estate professionals,
an increase of 62 percent from the beginning of 2016.
This nationwide growth is particularly intriguing when
studying EXPI’s most recent financial results. In the first quarter of 2016,
the company recorded revenues of $7.1 million, an increase of 107 percent from
the previous year. This total correlated with a 106 percent year-over-year
increase in agent count in its real estate division.
For more information, visit the company’s website at http://investors.exprealty.com
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