eXp World Holdings Inc., the holding company for eXp Realty, has acquired NextHome Inc., a national real estate franchise headquartered in Pleasanton, California.
The financial terms of the acquisition were not disclosed. NextHome has more than 500 US franchisees and eXp stated the acquisition will reposition it as a multi-model platform for real estate professionals.
In conjunction with this acquisition, eXp World Holdings announced it will begin trading on the Nasdaq Global Market under the new ticker symbol “AGNT,” effective on May 8.
“The industry has reached a tipping point, a one-size-fits-all model no longer works for the visionary entrepreneur,” said Leo Pareja, CEO of eXp Realty. “AGNT is a declaration of who we build for. Adding the NextHome franchise model gives our agents and franchise owners maximum optionality, backed by a proven leadership team and now with a unified world-class infrastructure and an expanded global network. Teams and agents need more paths forward, and the industry needs companies led by people who don’t just talk about being agent-centric but live it. We’re building a platform that supports multiple models, because every agent, and every consumer served, deserves choice.”
James Dwiggins, co-CEO of NextHome, added, “Joining forces with eXp World Holdings is a natural evolution of our ‘Humans Over Houses’ mission. By plugging into the most agent-centric real estate engine in the world, our franchise owners and agents will now gain access to unmatched depth, inventory, global network, and the kind of industry talent and influence that moves markets. We looked at every real estate company across the US, and eXp aligns with us the most — from company culture to philosophy to a leadership team that truly advocates for agents and consumers. This is the right partner to grow the NextHome brand and lead franchise expansion across the world.”
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