The Bear Cave issues cautious report on eXp World

The Bear Cave issued a cautious report on eXp World, expanding on past coverage and saying that eXp agents are leaving in record numbers and the “exodus shows no signs of slowing.” The Bear Cave notes that eXp’s agent base is important because practically all of the company’s income comes from fees directly charged to its agents and that the company ended 4Q23 with 87,515 agents, a decrease of 1,641 agents, and ended 1Q24 with 85,780 agents, for a decrease of 1,735 agents.