eXp World Holdings has acquired national franchise network NextHome and will begin trading under the ticker symbol AGNT on the Nasdaq.
The acquisition brings NextHome’s 500-plus US franchisees into the eXp ecosystem, creating what the company calls a “multi-model platform” – giving real estate professionals a choice between traditional franchise ownership and eXp’s cloud-based brokerage model.
NextHome has been ranked number one for franchise owner satisfaction by Franchise Business Review for five consecutive years.
“The industry has reached a tipping point – a one-size-fits-all model no longer works for the visionary entrepreneur,” Leo Pareja, CEO of eXp Realty said.
“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.”
James Dwiggins, Co-CEO of NextHome, will continue leading the brand within eXp’s structure.
“We looked at every real estate company across the U.S., and eXp aligns with us the most – from company culture to philosophy to a leadership team that truly advocates for agents and consumers,” Mr Dwiggins said.
“This is the right partner to grow the NextHome brand and lead franchise expansion across the world.”
The ticker change from EXPI to AGNT requires no action from existing shareholders, and the company’s CUSIP number remains unchanged.
eXp World Holdings operates eXp Realty, virtual collaboration platform FrameVR.io, and SUCCESS Enterprises.
“This is not about changing who we are,” Mr Dwiggins said.
“It’s about creating more opportunity for our people while staying true to the values that got us here in the first place.”