“After cautious deliberation, the Board unanimously authorized this proposal as a result of we consider Texas affords a governance surroundings that’s clearer, extra predictable and higher suited to an organization of our dimension and complexity,” Sanford wrote. “This isn’t a structural change to how we function. IT is a considerate evolution of the framework inside which we function — one which serves the long-term curiosity of our stockholder, our brokers and the enterprise.”
Sanford added that the choice displays eXp’s guiding philosophy: “Select readability over complexity and long-term stewardship over short-term positioning.”
Sanford’s disclosure of this desired transfer comes simply six weeks after Delaware’s Chancery Courtroom ordered him to face claims that he actively coated up sexual assaults dedicated by two former prime brokers and recruiters on the firm. In response to the courtroom, Sanford allegedly coated up these assaults as a result of the brokerage’s agent income downline system positioned the 2 alleged perpetrators in Sanford’s direct downline.
In an emailed assertion, an eXp spokesperson instructed HousingWire that the corporate’s board “believes reincorporating to Texas is in the most effective pursuits of the Firm and its stockholders,” and that the choice was arrived at after “greater than a yr of great deliberation and assessment.”
“The reincorporation isn’t anticipated to lead to any change to our enterprise, administration, operations, property or liabilities,” the spokesperson added. “In depth particulars in regards to the proposal are described in our proxy assertion filed with the SEC.”
eXp’s annual shareholder assembly is slated to happen on April 24, 2026.
In 2025, eXp generated web income of $4.8 billion, up 4% yearly. Nonetheless, web loss rose barely to $22.7 million, up from $21.3 million a yr in the past. A lot of the online loss in 2025 occurred in This autumn, which noticed eXp incur a $12.9 million web loss up from $9.5 million a yr in the past. Regardless of this enhance in web loss, the agency’s money and money equivalents available on the finish of the yr got here in at $124.5 million, up from $113.6 million a yr in the past.
