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Xp Realty's leaders are bracing for a prolonged downturn in the housing market, but they're focusing on efficiency and agent productivity to navigate it. Despite a 7% revenue increase in 2024, net losses rose accordingly. The company reported $1.1 billion in fourth-quarter revenue, up 12% from last year, with full-year revenue totaling $4.6 billion, a 7% jump from 2023.

    CEO Leo Pareja expects the market to remain sluggish for several years and is investing in technology and recruiting efforts to stay ahead. The company has been removing inactive agents, resulting in a higher number of productive agents despite a 5% decline in agent count last year. eXp plans to expand internationally, aiming to have offices in over 60 countries within the next five years.

    During an earnings call, Pareja expressed concerns about the Clear Cooperation Policy and its potential repeal, warning that it could lead to class-action lawsuits and regulatory issues. He believes a fragmented policy would give eXp an advantage but is not in the best interest of consumers.

    Key numbers:

    * Revenue: $1.1 billion in Q4, up 12% year-over-year; $4.6 billion for the full year, up 7%

    * Cash and cash equivalents: $113.6 million at the end of December

    * Net income/loss: A loss of $21.3 million for 2024, including a loss of $9.5 million in Q4

    * Adjusted EBITDA: $75.5 million for 2024, with $7.7 million in Q4

    * Transactions: 434,165 transactions in 2024, up 3% from 2023; 103,942 transactions in Q4, up 6%

    * Agent count: 82,980 at the end of 2024, down 5%

    eXp has made several notable moves, including recruiting high-volume teams and expanding internationally. The company's settlement in commissions cases remains unresolved, with ongoing legal proceedings.