Agent productivity drives record quarter for AGNT, eXp Realty

AGNT Inc. — formerly eXp World Holdings — reported record second-quarter revenue as eXp Realty continued to increase agent productivity, transaction volume and market share. Leaders touched on those results and the company advancing its operation of multiple brokerage models during a Tuesday earnings call, following its May acquisition of NextHome. The company reported $1.4 billion in second-quarter revenue, an 11% increase from the same period a year earlier. Real estate sales transactions climbed 12% to 132,497, while sales volume rose 15% to $60.5 billion. AGNT ended the quarter with 87,338 agents and brokers, up 6% year-over-year. The results point to a key trend executives emphasized throughout the earnings call — agents are becoming more productive even as the platform continues to grow. “Put simply, record revenue is driven by increased agent productivity,” eXp Realty CEO Leo Pareja said during the earnings call. “That’s not just agent counting and doing the work. That’s our agents doing more and doing it better, which is exactly why retention of the best agents matters so much.” The company said productivity per person increased 6% from a year earlier, reflecting higher tra...