Today, eXp Realty announced the acquisition of NextHome, a national franchise with 500+ franchisees and five consecutive years ranked No. 1 for franchise owner satisfaction.
Leo Pareja, the CEO of eXp Realty and NextHome Co-CEO James Dwiggins first shared the news with BAM, joining Byron Lazine for a conversation to lay out the biggest changes this merger will bring and what it means for agents under both umbrellas.
Among those changes is the stock ticker for eXp (EXPI) changing to AGNT, effective tomorrow morning (May 8), a power move that reflects the merged company’s thesis.
Read on for the highlights. Then tune in to enjoy the conversation between Byron, Leo and James.
What This Means for eXp, NextHome & the Industry
According to the official press release, the acquisition transforms eXp’s infrastructure into a multi-model platform capable of supporting diverse business models and brands under one global umbrella.
In plain terms: real estate professionals will now be able to choose between eXp Realty’s cloud-based brokerage model and NextHome’s franchise model, all within the same ecosystem.
Here’s how Leo explained it:
“The industry has reached a tipping point, a one-size-fits-all model no longer works for the visionary entrepreneur. AGNT is a declaration of who we build for. Adding the NextHome franchise model gives our agents and franchise owners maximum optionality, backed by a proven leadership team and now with a unified world-class infrastructure and an expanded global network. Teams and agents need more paths forward, and the industry needs companies led by people who don’t just talk about being agent-centric, but live it. We’re building a platform that supports multiple models, because every agent, and every consumer served, deserves choice.”
NextHome brings more than just a new model to the table. Here’s what it adds to the eXp ecosystem:
- 500+ franchisees across the U.S.
- Five consecutive years ranked No. 1 for franchise owner satisfaction by Franchise Business Review
- A people-first “Humans Over Houses” culture
- A leadership team that remains in place to continue driving NextHome’s growth
This is not an absorption. NextHome’s identity and its leadership remain intact.
James put it this way:
“Joining forces with eXp World Holdings is a natural evolution of our ‘Humans Over Houses’ mission. By plugging into the most agent-centric real estate engine in the world, our franchise owners and agents will now gain access to unmatched depth, inventory, global network, and the kind of industry talent and influence that moves markets. We looked at every real estate company across the U.S., and eXp aligns with us the most—from company culture to philosophy to a leadership team that truly advocates for agents and consumers. This is the right partner to grow the NextHome brand and lead franchise expansion across the world.”
Why AGNT, and Why Now
Effective at market open on May 8, 2026, eXp World Holdings begins trading on the Nasdaq Global Market under AGNT (replacing EXPI), and the timing is deliberate.
The AGNT rebrand ties the company’s market identity to its new multi-model direction.
Leo stated:
“AGNT is more than a ticker, it’s a declaration of who we are and who we serve. Every decision we make at eXp is in service of our agents and their customers, and now that mission is reflected in our market identity. This is a proud moment for our entire community, and I look forward to building on this momentum as we continue to redefine what it means to be an agent-centric real estate platform.”
For existing shareholders, the transition will be seamless. The Company’s CUSIP number remains unchanged and no action is required in connection with the ticker change.
Byron commented on the new ticker, which was emblazoned on Leo’s cap:
“Everybody has FOMO over that ticker. That’s an unbelievable ticker on the hat that Leo’s got on.”
Leo added:
“But it’s not just our ticker. It’s our thesis, right? And we fundamentally believe in making a better world for the agent. That’s what Glenn wanted when he created revenue share and stock compensation.”
What This Means for Agents and Franchise Owners
The combined entity now offers two distinct paths under one global infrastructure.
- eXp Realty continues to operate as a cloud-based brokerage with commission splits, revenue share, and equity ownership.
- NextHome franchise owners gain access to eXp’s global referral network, inventory, and professional services.
And the whole thing runs across a network that spans the Americas, Europe, the Middle East, Asia Pacific, and South Africa.
In his conversation with Byron and Leo, James spoke to what the partnership unlocks for NextHome’s people:
“The stuff that is built by a brokerage of eXp’s size…they are creating efficiencies in the brokerage model that 99% of companies just can’t do. I’ve seen tech that they’ve built for AI to audit marketing material that makes sure it’s compliant. They’re just thinking in a way that’s just different than most. And so, I’m excited on the franchise side to be able to create this sort of broker in a box, take these efficiencies that have been built for the largest brokerage in the country, and model that into how people that, as Leo mentioned, don’t want to be part of that company but now have a path to be part of the bigger operation. It’s going to be very exciting to watch what we put out over the next few months.”
Leo summed it up this way:
“By aligning with NextHome, I think it creates a path for the folks that were never going to be at a cloud brokerage but want to be at a franchise that’s modern, agile, has the right product mix, has the right leadership. So, it creates this growth opportunity for both of us.”
The real estate industry has been waiting for someone to build a legitimate on-ramp for both independent agents and franchise owners under one roof.
Leo and James are making the case that eXp + NextHome (AGNT) is that company.
Two models, one global infrastructure, and a franchise brand that has ranked No. 1 for owner satisfaction five years running. The bet is that agents and franchise owners want a choice, and that a single platform can deliver both without watering either one down.
We’ll close with one more quote from Leo in answer to Byron’s question about recruitment and how much of an edge eXp might have in that arena, thanks to its advanced tech, or whether company leadership and ethos play a larger role:
“I think tech can always be leveraged, but I don’t think most agents purely make a tech choice. ‘Are the folks at this brand, or this brokerage, or at my physical office, the humans I want to interact with on a daily basis?’ “At the end of the day, we’re a tribal species. We feed energy off other like-minded human beings, and I think culture and humans are going to be at a premium, especially where everything’s gone digital and everything’s AI. I think the humans you’re going to interact with are going to be even more valued.”
The caliber of agents working with eXP and NextHome have a lot to do with the quality of their leadership, as James pointed out:
“I think people need to understand that we are in a place where we’re losing the vision of what we’re here for. That it needs to be about what’s best for the people that we serve. And I think it’s ironic that the CEO of a publicly-traded company always stands on the side of the consumer… “We have a strong stance—very clear where we are on it. We are about, obviously making sure the agent is at the center of the transaction, and the consumer is the north star in that process.”
Tune in for the full BAM interview to learn more.
