In a bold step toward reshaping Asia’s real estate industry, eXp Realty officially launched its operations in South Korea marking its fifth international expansion in 2025 and its second in Asia, following Japan.
This move signals more than geographic growth; it represents the next chapter in real estate’s digital transformation. With no physical offices, AI-powered tools, and equity-driven rewards, eXp Realty South Korea aims to modernize one of the world’s most traditional property markets.
South Korea’s real estate system has long been built on hierarchy and face-to-face interactions. eXp’s arrival disrupts this convention, offering a fully virtual brokerage model that eliminates the need for physical offices.
Agents can now:
This approach positions eXp as a technology-native alternative to legacy firms burdened by office costs and outdated commission splits.
The South Korea division is headed by Thomas Kim, a respected former top broker in Seoul. His local expertise bridges the gap between Korean real estate culture and eXp’s global innovation strategy making this launch a powerful blend of local insight and global scalability.
Founded in 2009 by Glenn Sanford, eXp Realty began as a bold experiment in virtual brokerage. Fast-forward to 2025, and the company operates in 29+ countries with over 82,000 agents worldwide.
Its parent company, eXp World Holdings (NASDAQ: EXPI), maintains a market cap of roughly $2.5–3 billion, reflecting its strong investor confidence.
eXp’s entire ecosystem is cloud-based from property listings to training sessions and team meetings.
Powered by Virbela, eXp World allows agents to:
Unlike traditional brokerages, eXp agents receive up to 80–100% commission splits, revenue-sharing opportunities, and NASDAQ-traded equity for high performance. It’s a model built to empower agents, not brokers.
Feature | Traditional Brokerages | eXp Realty |
Office | Physical offices | 100% virtual |
Commission Split | Broker-owned | High agent split |
Equity | Rare | Agent-owned stock |
Revenue Source | Broker profit | Shared revenue model |
Training | Local or limited | Global, 24/7 via eXp World |
Appointed as CEO in 2023, Leo Pareja embodies the new era of real estate leadership. A former Top 10 Latino Agent in the U.S. and founder of Remine, a PropTech platform used by over a million agents, Pareja blends real estate expertise with Silicon Valley-style innovation.
Under his leadership, eXp Realty has prioritized:
Pareja’s mission is simple yet transformative: make real estate work for agents not the other way around.
South Korea’s property industry is one of Asia’s most competitive and tightly regulated. Transactions often involve multiple intermediaries, rigid hierarchies, and heavy bureaucracy conditions ripe for technological disruption.
With one of the world’s highest internet adoption rates and a growing appetite for remote work, South Korea offers the perfect environment for eXp’s virtual, AI-powered brokerage model.
Agents can work from anywhere no brick-and-mortar costs, no franchise fees, and full operational flexibility.
Through eXp’s international referral network, Korean agents can connect with counterparts in over 29 countries, creating cross-border deal opportunities.
The platform offers weekly live training sessions, mentorship programs, and workshops led by industry leaders all within an immersive virtual environment.
Academic research (Nicholls, 2024; González, 2017) supports eXp’s underlying premise: decentralization and digital innovation are the next frontiers of real estate efficiency.
While not yet heavily studied in scholarly literature, eXp is frequently cited in business innovation case studies for its pioneering blend of PropTech and global network economics.
eXp must comply with local real estate licensing laws, which vary significantly across countries especially in Asia.
As a public company (EXPI), eXp’s stock performance is tied to agent growth. Critics note similarities to MLM-style revenue sharing, though it remains fully legal and transparent.
While some question its multi-level referral model, eXp’s structure differs by focusing on real transaction volume rather than mandatory purchases or inventory.
By 2030, eXp aims to operate in 50 countries, each with 500+ agents, creating one of the world’s largest digital real estate ecosystems.
eXp continues to integrate AI tools, immersive virtual spaces, and predictive analytics to help agents make data-driven decisions redefining real estate as a tech-powered profession.
The launch of eXp Realty South Korea represents more than geographic expansion it’s a symbol of evolution in real estate itself. By merging AI-driven platforms, global collaboration, and equity-based incentives, eXp is redefining how agents work, earn, and connect.
While challenges like regulation and stock volatility remain, eXp’s entry into Korea cements its role as one of the most disruptive forces in global real estate where borders fade, and opportunity becomes truly virtual.
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