eXp Realty, one of a world’s fastest flourishing and many successful genuine estate companies, has turn famous for not investing in any tangible real-estate, opting instead for practical existence offices that concede a agents and brokers to correlate and consort from anywhere around a globe.

Glenn Sanford, eXp Realty’s owner and CEO, founded a association a decade ago, shortly after a genuine estate marketplace fall of 2007. He couldn’t means to buy or franchise bureau space, and figured that focusing on a complement that authorised his group to work remotely would assistance a association avert disaster, should another real-estate predicament start in a future. So eXp Realty relied on services like Google Docs and spreadsheets, plan government solutions like Trello, and communications app Slack to assistance a workforce work together though indeed pity a same space. But 3 years ago, a association took this remote partnership complement to a whole new level, by building a campus finish with offices, assembly rooms, auditoriums, lounges and more, in practical reality.


Photo: eXp Realty/Facebook

Dubbed ‘eXp World’, a company’s practical existence campus is a program that employees can download on their mechanism and entrance from anywhere in a world. It was grown by video diversion developer VirBELLA and is a lot like a famous Second Life online world, in that guests enter a universe as avatars, travel around a campus, enter several practical facilities, and correlate with any other. While a categorical concentration is on work and brainstorming, VirBELLA is constantly adding fun things as well, like a ability to go on boar rides on a practical lake or enjoying a splash during a bar.

At a commencement of 2018, eXp Realty had around 6,500 brokers, though currently that series has increasing to over 12,000. They are handling in 300 markets opposite a US and Canada, and if that wasn’t adequate to remonstrate we of a success, a association was recently listed on a Nasdaq batch market, with a initial day marketplace capitalization of over $1 billion. But it doesn’t possess or franchise any some-more earthy space than what it is compulsory by law.


Photo: eXp Realty/Facebook

Apart from a small leased space in Bellingham, Washington, that acts as a domicile though is indeed usually a storage space full of record cabinets, and a few dull locations in places where earthy addresses are mandated by law, eXp Realty usually exists in a practical world. The genuine irony is that a whole purpose of a association is to assistance people buy and sell genuine universe properties, like houses and bureau buildings.

“The practical campus is a large partial of a expansion engine. If we were to have a constraints of earthy offices, a expansion we’ve had simply wouldn’t be possible,” Scott Petronis, arch record officer of eXp Realty, told Singularity Hub.


Photo: eXp Realty/Facebook

Having a practical campus in a practical universe rather than in a genuine one apparently has several vital advantages. eXp Ralty can sinecure whatever talent they like, regardless of their location. As prolonged as they have an internet connection, they can correlate with their colleagues and a association government around avatars.

“Our people can combine and feel like they are really there together. They can have this knowledge like they are during an office, station during a whiteboard, and can unequivocally have what is roughly like a face-to-face conversation,” Petronis said.


Photo: eXp Realty/Facebook

Then there is a cost reduction. Can we suppose a cost of section and trebuchet offices for over 12,000 people? A brokerage association needs offices and training spaces for a employees, though a cost of leasing such essential spaces in a genuine universe can be crippling for a real-estate brokerage business. However, eXp Realty can have all and any space they wish by having VirBELLA developers write some some-more formula and renting some-more cloud space.

“Typically for a brokerage business to grow, we need to go and find an office, fill it adult with agents who move in a income to compensate for that office, before we can go and build another one. This is since we don’t see a lot of inhabitant genuine estate brokerages, since a cost is so impossibly high,” a eXp Realty CTO said.


Photo: eXp Realty/Facebook

Plus, each time they confirm to make changes to a campus, like build new facilities, or reinstate a practical lake for a hiking trail, they don’t need to sinecure a construction association and wait months for a chances to take place. Everything is usually a few clicks away.

“We built eXp Enterprise with a entrepreneurial representative in mind. Agents can entrance their information when they wish and how they want. eXp World offers a singular cloud record resolution that allows agents to benefit instant, live support from eXp’s representative services, record and financial experts from wherever an representative or group is located,” Petronis said.

 

I consider it’s satisfactory to contend that eXp Realty is light years forward of other real-estate companies, as good as many other companies in general, and that it offers a glance into a not so apart future.