Cloud-based brokerage eXp Realty has expanded into Greece, according to an announcement made on Tuesday.
With the launch, the brokerage now operates in 20 markets worldwide and has more than 77,000 agents, according to the press release.
“Greece is a vibrant market with strong economic projections driven by tourism and excellent foreign investment opportunities,” Michael Valdes, the president of eXp Global, said in a statement. “We see tremendous business potential for agents and buyers in Greece who can benefit from the eXp model.”
eXp Realty’s Greece operations will be led by Niko Manomenidis, who has more than 20 years of experience in residential and commercial real estate. Manomenidis has served as the president of Central European Real Estate Associations Network and was a member of the board of directors of the National Association of Realtors in Greece. He also has the title of honorary president of the Greek Association of Certified Real Estate Professionals, in recognition of his longtime service to the real estate community in Greece.
“The eXp model drives digital transformation in the real estate sector and limits our carbon footprint, creating a more sustainable and profitable platform for real estate professionals,” Manomenidis said in a statement. “This will be a welcome innovation in the Greek real estate market.”
eXp Global plans on launching in three international markets during the first quarter of 2022. The brokerage announced its Dominican Republic launch in February and it plans on opening is New Zealand operations later this quarter.
In 2021, the brokerage generated $81 million in net income, up 162% from the year prior. This can partially be attributed to eXp agents taking part in 444,367 deals in 2021, an increase of 86% compared to 2020. In addition, transaction volume rose 116% year-over-year to $156 billion.
In February, an Austin, Texas judge issued a restraining order on former Keller William CEO Mark Willis, preventing him from joining eXp Realty because Willis holds shares in three Keller Williams franchises. Keller Williams contends that Willis will share confidential information with eXp Realty, inflicting “irreparable damage” on Keller Williams.