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Cloud-based brokerage eXp Realty is continuing its global expansion. On Wednesday, the brokerage announced its entrance into Poland.
This is eXp’s 24th global market and the expansion follows the launch of four new markets in 2022 including the Dominican Republic, Greece, and New Zealand, with Dubai expected to open soon.
“Poland’s recent wave of real estate brokerage consolidation speaks to the attractiveness of its property sector for both foreign and domestic investments,” Michael Valdes, the firm’s chief growth officer, said in a statement. “With continued rapid growth and resilience in the real estate market, Poland provides eXp Realty an ideal opportunity to establish a strong foothold in the Central and Eastern European region.”
The brokerage’s Poland operation will be led by Dorota Chomuntowska, who has more than 11 years of real estate broker experience in Poland and other international markets.
“eXp has pioneered a new wave of quality and value for the real estate industry,” Chomuntowska said in a statement. “I am honored to lead this expansion in Poland and look forward to introducing eXp Realty to agents across the country.”
This is eXp’s second global expansion this month with the firm announcing its expansion into Chile last week.
During the second quarter of 2022, eXp recorded revenue of $1.4 billion, a 42% year-over-year increase. And gross income increased 34% compared to the second quarter of 2021, for a total of $107.3 million. However, the firm recorded a net income of just $9.4 million, down 75% from a year prior.
