eXp Realty has promoted Michael Valdes to Chief Growth Officer. Valdes will lead the eXp Realty and eXp Commercial global expansion efforts, which according to a press release, reinforces aligned growth strategies and leveraging the company’s scale to accelerate growth.
Valdes joined eXp Realty in 2020 and as President, eXp Global, led 18 global market launches, with at least two more markets expected to launch in 2022.
“With our rapid global expansion, we recognize the importance of consolidating our global growth strategy under one leader to strengthen our efforts and deepen market share,” said Jason Gesing, CEO of eXp Realty. “Michael has been instrumental in growing our global footprint.”
RealTrends recently sat down with Valdes, Gesing, CEO of eXp World Holdings Glenn Sanford at the eXp Shareholder Summit in Orlando where the team discussed how eXp is uniquely positioned to grow no matter what the housing market brings.
In that interview, Sanford said, “We’ve obviously proven that you can build a cloud-based brokerage. There are going to be a lot of brokerages that [will] truly get rid of their single biggest cost to running a real estate brokerage, which is bricks and mortar.”
“If you’ve got a significant amount of debt or a significant number of fixed expenses, you’re going to struggle in the downturn,” says Sanford. “But a modern enterprise doesn’t have either of those. They’re not carrying a whole bunch of debt. If they are, the reason why the debt exists is because they probably picked up a whole bunch of fixed expenses, and so they need the debt just to pay for that,” he says.