eXp World Holdings, Inc.

Welcome to the eXp World Holdings Third Quarter 2025 Earnings Fireside Chat via livestream at our Metaverse on the web frame. My name is Denise Garcia, and I manage investor relations for eXp World Holdings. Today, we will begin our earnings fireside chat with remarks from Leo Perea, CEO of eXp Realty, Wendy Forsyth, CMO of eXp Realty, Felix Bravo, Managing Director, eXp Realty International, Jesse Hill, Chief Financial Officer of eXp World Holdings, and Glenn Sanford, Founder, CEO, and Chairman of eXp World Holdings. Following our prepared remarks, we will open the call to a Q&A session with our speakers. Let's begin with a review of the forward looking statements. There will be a number of forward looking statements made today that should be considered in conjunction with the cautionary statements contained in the company's SEC filings. Forward looking statements are subject to various risks and uncertainties that could cause our actual results to differ materially from these statements. Please see our filings with the SEC, including our most recently filed annual report on Form 10-K and quarterly reports on Form 10-Q for a discussion of specific risks that may affect our business, performance, and financial condition. We assume no obligation to update or revise any forward-looking statements or information. As a reminder, today's call is being recorded and a replay will also be made available on eXp World Holdings. Now for a few logistics and we'll get started. Welcome to our metaverse on the web for those of you joining in frame today to zoom in on into a specific screen. You can click on that screen and then click zoom in. If the content on the screen disappears, or if you lose audio, simply refresh your page. While in frame, if you need help, just use the help button at the bottom right to link with tech support. Should you wish to ask a question during our presentation, you can enter your questions by scanning the QR code presented on this screen with your mobile phone or go to slido.com and type in the event code EXPI. From there, you can submit a question or vote up an existing question by giving a thumbs up for that question to be asked. This screen will remain up on the right-hand side of the stage. Now, I'll turn the fireside chat over to our speakers before opening the call to questions.

Thanks, Denise. We continue to grow and retain agents and get results. This quarter marks our second consecutive quarter of quarter over quarter agent growth. It's a great indication that our strategies and programs we've created to attract and retain agents are working. Not only have we been able to attract and retain agents, but we're creating a stronger, more productive agent base. Sales transactions per agent are up again, increasing 5% year over year. The number of our account agents is up 7% year over year and super excited. worldwide agent attrition has improved by 13% year over year. Let's talk a little bit more about retention and attrition in the US on our next slide. In the US, the majority of our departing agents continue to be our lowest producing cohort, and we're retaining the highest producing agents, which are multiple times less likely to churn than our lower producing agents. In fact, of the non-productive agents that left the XP, 63% left the industry altogether, But fewer agents are leaving with attrition improvement by 18% year over year in the US. Our strategy to attract teams is working and helping drive the increase in productivity. 39% of new agents to eXp were on teams in the third quarter. Agents on teams are 79% more productive than individual agents. I'd like to highlight some of us notable teams that joined us. Starting with Tammy Register in North Carolina. Tammy spent a decade at KW and the prior decade at hometown. She's consistently one of the real trends, top agents in her market, either number one or number two. We also welcomed a good friend of mine, Chris Heller, who was formerly CEO of Keller Williams Realty. He's held the number one spot at Keller Williams and he's held leadership roles across the industry and some of the most impactful companies in our industry. Then there was Brett Zaborski that we, Welcome in Southern California. His 90 agent team boutique brokerage came over specializing in luxury real estate in Southern California. On the next slide, we have a top producing SoCal solo producer, Vivian Lesney, who's also ranked very high on the NAREP list. Two of our San Diego powerhouses, Kyle Whistle and Dan Beer, came together to create the Whistle Beer Group. This merger will be one of the largest teams we have at eXp with over a billion dollars in sales in 2024 and with huge goals for 2025. And we're interested to watch them scale throughout California, then regionally, and we expect to see them operating on our platform nationally. After that, the Victoria Group in San Antonio came back after briefly operating as an independent and very quickly realized the benefits of being able to scale on our platform. On the next slide, we have K2 out of New Mexico. They're the number one Zillow seller home team who was formerly independent and now is joining us to scale. Right next door in Texas, Amy Tapp as an independent broker joined us as well, which has been a testament of how we continue to recruit independent brokerages. And last but not least, in the third quarter, we welcome the Impact Room, one of Denver's top teams. Their 31-agent team closed 305 million sales with over 400 units in 2024, and we're excited to see what they do here. On this next slide, I want to touch up on eXp University, which is a testament to the execution on everything we just delivered. FastCap has been in effect for over 12 months now, with 17,000 agent registrations for the program. And the agents that complete the program are reporting seeing results in both the number of appointments and agreements executed, whether it's buyer agency agreement or listing agreement. On the heels of that, we've just launched FastAttract. And most recently, we announced an AI accelerator eight-week program. With that, I'm going to pass it to Wendy so she can give you more statistics on what Fast Attract is looking like.

Thanks, Leo. And building off of all the great information Leo was just talking about on eXp University, I want to share about our Fast Attract program that eXp University launched in Q3. This is a program distinctly launched to help our agents build their revenue share lines. In Fast Attract, we focused over a six-week period helping agents build their skills around building revenue share. And we had tremendous results with this program. In fact, the program was piloted in Q3, and the results were so successful that we're continuing on with the program in Q4, and it will become a part of our curriculum throughout 2026. So welcome Fast Attract to eXp University's curriculum and congratulations to our 138 agents who had such tremendous results during our pilot program. We're really excited about the skill development that Fast Attract will bring to help so many of our agents build their revenue share skills. Leo talked about the number of new joiners that were highlighted in the media. The second part of our PR strategy, in addition to highlighting our new joiners, is highlighting the thought leadership of our leaders in the media. And in Q3, we continue to highlight prominently our thought leadership around marketing and branding, AI and technology, women in leadership, and advocacy for the consumer, grabbing headlines in all of the major industry trades for eXp. This is an important part of our brand messaging and voice strategy. And we did a really great job in Q3 in getting those headlines for us. In-person events continue to be another great part of what we do to build our culture and align in spending time with all of our agents here. And during Q3, we were excited to host a really phenomenal group of our top producers in Scottsdale, Arizona, for our Q3 Mastermind event. During the event, we had 387 agents attend the Q3 Mastermind event, and it was a full two-day event of masterminding, idea sharing. We had a top industry speaker, Jared James, there, and the event achieved top feedback for collaboration and idea sharing. So we were delighted with that outcome. And these events really are a core part of culture and collaboration. And as Leo likes to say, You earn your way into these rooms and being in these rooms are really a important part of how our culture comes together and also how we stay attuned to what our clients and what our customers need and where our industry is going and what really is next. So that leads us to an event that didn't happen in Q3, but an event we spent a great deal of time planning in Q3, and that was EXP Con in Miami that just happened at the beginning of, or just a couple weeks ago in October. But as I said, we spent a great deal of time planning in Q3. I'm happy to share that we actually had greater attendance in EXP Con Miami in 2025 than we did in 2024, something that our entire team is hugely proud of. We had a great event and it truly was a time for our culture to shine. We had over 105 breakout sessions. We had over 50 of our eXp agents shining brightly up on the general session stages. And something that was really exciting about the event this year is that we capitalized on what we in the marketing world called user generated content. So we really leaned into marketing the event through the use of utilizing all of you, our agents, as our key marketers before, during, and after the event. We were so excited by what you shared to help us market the event on social media through providing you with tools to share your experiences. And what you see here on the screen is a recap that went viral around all of the different announcements that we had during eXpCon in Miami. So this user generated content marketing is something we used before, during, and after the event as a marketing campaign strategy for the event to get you involved and to help build excitement and spread the word around the event. So thank you all for helping us market all of the great things that happened at eXpCon in Miami. Next, I want to give a little love to our operations team and share a little bit of the day in the life of what our operations team works on every single day. On an average day, our operations team, some of you might be surprised by these numbers, handled just over 14,000 expert care desk tickets. And on average, 73% of those tickets that come into our expert care desk are resolved on that very first contact. We know how important it is for you when you need us to get those tickets resolved. And on first contact, 73% of those tickets are resolved. Next up is calls. When you call us and you call us on average almost 700 times a day, we know that a last resort is picking up the telephone call or picking up the telephone and calling us. So when you call us, on average, we answer that phone the vast majority of the time. If we don't answer that phone, you're on hold on average less than a minute and 40 seconds. So we know that when you call us, you need us, and we're here to answer those calls and help you out. Our broker support team conducts on average 30 broker training sessions per day to help train you and support you on everything that's happening in your business. You visit eXp World over 7,300 times a day on average. And this last stat is an incredible one. On average, nine agents a day become icon agents here at eXp in Q3, a phenomenal stat and one that I want to share a huge congratulations to all our icons agents, as this year we celebrate the 10th anniversary of our icon agents. So huge congratulations to all of you. All of these factors that I just shared and that Leo was just sharing all contribute to our value stack. And in this quarter, we saw an increase in our production per person year over year. And that is in part due to the investment we continue to make in this value stack. So we saw a 3.5% increase year over year from five transactions per person up to 5.2 transactions per person. So an incredible achievement. And with that, I'm going to hand it over to Felix to give you an update on Internationale.