eXp Real Estate Expands Operations with 45 New Agents in NZ

The global real estate brokerage eXp has significantly expanded its presence in New Zealand, announcing the addition of a nationwide team of 45 real estate sales agents. These agents, who previously operated under the Independent Agent brand, joined eXp earlier this month. This strategic move has more than tripled the company’s agent count from 20 and has enhanced its visibility and service reach across both the North and South Islands, positioning eXp as one of the fastest-growing real estate networks in the country.

While eXp is not yet a well-recognized brand in New Zealand, it has established itself as a major player globally. The company operates under a cloud-based model, leveraging technology to facilitate a flexible work environment for its agents. eXp boasts a network of over 86,000 salespeople across 29 countries, and its parent company, eXp World Holdings, is publicly traded on the Nasdaq exchange. In 2023 alone, eXp expanded into seven new countries, reporting a revenue increase of 7% to US$1.3 billion for the third quarter. The number of real estate sales rose by 3% to 121,516, with total sales volume climbing 7% to US$54.1 billion.

The New Zealand division was incorporated in March 2022, launching its operations quietly later that year. The recent appointment of Matt Jones, the founder of Independent Agents, as country lead marks a significant step in eXp’s efforts to establish a strong local presence. Jones emphasized that eXp allows real estate professionals to build their own brands while benefiting from advanced technology solutions and a broader support network.

“Agents don’t need more bureaucracy; they need ownership,” Jones stated. “eXp is a global platform that enables agents to grow their businesses at scale. It provides New Zealand agents with the freedom, technology, and financial benefits to develop real businesses, not just sell homes.”

Jones highlighted that while there are similar agency models in New Zealand, eXp stands out as the only international brand in this space. He noted, “Without an international brand, how big is the global reach really? Your options are limited compared to a company with a substantial global footprint. This is increasingly important as the world becomes more interconnected, especially with recent changes affecting foreign buyers.”

In a notable legislative change, the New Zealand Parliament recently passed the Overseas Investment Act, which softens the restrictions on foreign buyers. This new law allows “golden visa” investors to purchase or construct residential properties valued at $5 million or more. According to Jones, agents operating in the luxury market are experiencing heightened interest from foreign buyers as a result of these changes.

“There are New Zealand homeowners who have been hesitant to engage with the market, but are now considering real estate agents,” Jones explained. “They are looking to reach a broader pool of buyers, and we have the international reach to facilitate that. This is a pivotal moment for our industry.”

With over 25 years of experience in real estate, Jones believes that technology-driven brokerage models like eXp’s will continue to strengthen in the future. “We will see more digital-based agencies and platforms emerging. While they may not dominate the entire real estate landscape, they will increasingly play a significant role.”

The ambition for eXp in New Zealand is clear: to become a well-known and respected brand within the local industry. Jones remarked, “We want to increase our visibility, and nothing achieves that better than sold signs bearing our brand name. That is our primary goal moving forward.”

eXp is not alone in its pursuit of the New Zealand market. In recent months, other international real estate companies have also expanded their operations. Australian firm Raine & Horne launched its local offering in 2023 and has since increased its presence through the acquisition of the Mike Pero Real Estate network. Additionally, global real estate developer Hines established a foothold in New Zealand earlier this year, while Rethink Group, an Australian commercial property investment company, opened its New Zealand branch in 2024.

As eXp continues to solidify its position in New Zealand, the evolving landscape of the real estate market suggests that both agents and consumers may benefit from the increased competition and innovative approaches to property sales.