Founded in 2009 by entrepreneur Glenn Sanford, eXp Realty operates as a cloud-based national brokerage designed to replace traditional brick-and-mortar offices with virtual collaboration. The company is part of eXp World Holdings.   Low overhead costs have allowed eXp to scale quickly. The company also offers recruitment incentives such as profit-sharing for agents who recruit other agents into the brokerage.

After a rapid rise over the past decade, the company’s growth has leveled off in recent years, but eXp Realty still accounts for 4.6% of US sales volume and ranks as the third-largest brokerage by that metric.  Parent company eXp World Holdings as well as eXp Realty are currently undergoing significant litigation that may impact its business.

Although sales volume grew between 2024-2025, eXp has seen a sales slowdown, as well as a net loss of $22.7 million in 2025, according to year-end financial filings. However, the company saw an increase in revenue of 4% (to $4.8 billion), and cited a reduction in operating expenses and strong operational profitability.

Amid those economic crosswinds, a Delaware court ruled in January 2026 that a shareholder lawsuit over the company's handling of sexual assault allegations could move forward. Six weeks after that ruling, eXp disclosed plans to incorporate in Texas rather than Delaware.

The parent company of eXp Realty is eXp World Holdings, which also owns companies that produce real estate tech and deal in commercial real estate. EXp operates under a single brand internationally, and centers its business around its cloud-based, metaverse-like space.