Virtual megabrokerage eXp, which has long sought to be ahead of the curve on technology in real estate, is seemingly all-in on AI, as executives also touted an ongoing effort to build out and consolidate the company’s platform.
Reporting essentially flat agent and broker count at just under 83,000, and a 4% increase in revenue in 2025 (at $4.8 billion), eXp founder Glenn Sanford spent significant time in his remarks promising that his company will have an advantage over “legacy” franchisors and brokerages as it builds out “native” AI infrastructure.
“We have more to share as the year progresses, but early work is validating exactly what we expected. Singular focus plus AI-native tooling is a multiplier,” he said on a conference call following the earnings report. “ We have AI native leaders embedding throughout the organization, and we’re running leaner teams with measurably higher output than two years ago.”
As at least some industry leaders have started to back down from AI-driven promises and hype, Sanford and eXp are promising a transformational experience as consolidation and macro headwinds create broader uncertainty for real estate at large. Sanford specifically pointed to eXp’s AI Copilots and “AI native leaders embedding throughout (eXp)” as what will push the company past competitors.
“Leaders with singular focus and full accountability for specific outcomes are paired with AI-assisted engineering to deliver something this industry has never seen—a genuinely high-touch agent and consumer experience running on an entirely AI-enhanced platform,” Sanford said.
The brokerage also appears to want some separation from “monolithic third-party portals,” with Chief Technology Officer Carrie Lysenko pointing to an “over-reliance on these platforms.
“That includes continuing to build on the eXp Hub community platform,” she said. “This is a really ‘built by eXp, for eXp’ platform, and it allows us to curate a really bespoke experience for our eXp agents and staff that really incentivizes community and communication to happen within our ecosystem, as opposed to a potential third-party platform.”
eXp is not the only one seeking out more independence and more control as the real estate landscape rapidly shifts. Both Rocket and Compass have highlighted the ability to consolidate their business on platforms they control as they have executed major mergers over the last 12 months, with Rocket’s purchase of Redfin and Compass’s deal for Anywhere.
Asked what tangible metrics can help “measure the success” of these initiatives, especially AI, eXp Chief Financial Officer Jesse Hill first highlighted transactions per agent, which came in at 5.3 for 2025.
“As long as that’s moving in the right direction, we know that we’re making our agents more productive and successful, as well as attracting and retaining the most productive agents,” he said.
Questioned on agent count (which was up very slightly year-over-year), eXp President Leo Pareja claimed that membership in the National Association of Realtors®—ostensibly reflective of practicing real estate agents—is down 4%.
“We have seasonality. We have agent count dip from Q3 going to Q4,” he added. “That said, we’ve prioritized agent productivity over agent count. In the 4 years I’ve been here, that’s been my hyperfocus.”
Asked more broadly what of all these strategic initiatives are going to have the biggest impact, Pareja first noted that a real estate business is “tied” to total transaction count in the country, but that the company was focused on “creating and delivering tools that leverage the agents in their daily business.”
“I think there’s gonna be a separation between the companies that are able to take advantage of the opportunity today,” he said. “I do think for some companies, it is a bit of lip service. We are a company that has a service that is repeatable and scalable.”
