eXp acquires NextHome, shifts to multi-model platform

eXp World Holdings Inc. has acquired national real estate franchise NextHome, Inc, according to an announcement on Thursday. The financial terms of the deal were not disclosed.

Through this acquisition, eXp is adding a full franchise option alongside its cloud-based brokerage model.

Reflecting the acquisition, eXp said it will begin trading under a new Nasdaq ticker, “AGNT,” on Friday.

The Bellingham, Washington-based holding company for eXp Realty, FrameVR.io and SUCCESS Enterprises, said in an announcement that the deal is designed to turn its existing infrastructure into a “multi-model platform” that can support different brands and business structures under one global umbrella.

NextHome, which has more than 500 franchisees across the U.S., brings a proven franchise system into the eXp ecosystem at a time when many large brokerages are exploring different models and franchising options through mergers and acquisitions. According to the announcement, NextHome will continue to run the franchise brand within the eXp platform.

“We’ve moved from being a single brokerage to being the Global Operating System for Real Estate,” Leo Pareja, CEO of eXp Realty, told HousingWire.

According to Pareja, the acquisition provides eXp’s agents with “unmatched referral power,” the ability to attract new talent and the opportunity to build a legacy.

“We’ve removed the compromise. Whether a recruit wants cloud scale or a franchise, our agents now represent a parent company that offers the premier solution for both,” Pareja said.

For housing professionals, the combined platform is positioned to function as a choice between models — operating under eXp Realty’s cloud-based brokerage with aggressive splits, revenue share and equity incentives, or building a branded franchise under NextHome’s system and “humans over houses” culture. That flexibility could matter more as agents and teams reassess where to affiliate in the new brokerage environment.

“In a shifting market, resilience is the ultimate competitive advantage. By diversifying our model, we’ve created a more robust company — one that gives our agents more ways to serve clients and more tools to grow their business,” Pareja said. “Our agents can walk into any listing presentation backed by a platform that’s built for today’s market and positioned for where this industry is going.” 

James Dwiggins, Co-CEO of NextHome, said in the company’s announcement that “joining forces with eXp World Holdings is a natural evolution” of NextHome’s mission. Dwiggins told HousingWire that the deal “couldn’t have been a better fit for today’s real estate environment.”

“Our brokers and agents now have access to a massive referral network of agents and listing inventory that mid- to smaller-sized companies simply won’t — especially if a private listings war ensues. Finally, consumers care about the experience they have with their agent,” Dwiggins said. “NextHome and eXp share some of the most productive and successful agents in the business, and eXp’s size and scale will give our people access to technology, global reach, and an infrastructure powered by one of the most productive real estate companies in the world. It’s a win / win for everyone.”

The two leaders see the merger as a “perfect cultural” fit.

“Culture and a commitment to putting the consumer first. NextHome has always been about ‘Humans Over Houses,’ and Leo and his team have been even more outspoken than we have when it comes to protecting the consumer and the industry. Everything they do is rooted in transparency, disclosure and thinking about what’s best for the people buying and selling real estate,” Dwiggins said.

eXp framed the combined company as a “multi-model leader” where independent agents, teams and franchise owners can plug into shared technology, services and a cross-brand referral network. For brokers and team leaders, the key strategic shift is that the same parent company will now support both a cloud brokerage and a franchise system, potentially allowing movement between structures as business needs change.

“Built by agents, for agents”

The ticker change from EXPI to AGNT on the Nasdaq Global Market will take effect at the market open on May 8, 2026. The company’s CUSIP number will remain the same and existing shareholders do not need to take any action in connection with the change, the company said.

eXp said the new ticker is meant to reflect its focus on empowering independent agents and brokers through a technology-driven, cloud-based platform. 

“We’re not reacting to the market; we’re building ahead of it,” Pareja said. “Trading as AGNT reflects something deliberate: we’re evolving beyond a single brokerage model into a multi-platform business. This acquisition means that no matter where the market shifts, we have a model that fits the moment. And in this landscape, our competitive edge remains our DNA. We are and always have been built by agents, built for agents. And no matter how an entrepreneur chooses to build, they have a home within our ecosystem. We aren’t just surviving the change; we are the ones defining it.”

Pareja is no stranger to the franchise brokerage model, serving as a broker for Keller Williams earlier on is his career. He told HousingWire that his time at Keller Williams gave him a “deep respect for the power of branding and local ownership,” but it also showed him the “limitations of the traditional franchise model in a digital world.”

“Re-engaging with franchising now isn’t about going backward to the old way; it’s about evolving. We’ve taken the best of the franchise culture, the community and the local pride and plugged it into a premier cloud-based operating system. It’s not franchising as it was; it’s franchising as it should be,” Pareja said.

In 2025, eXp Realty agents closed 343,091 transaction sides totaling $155.56 billion in sales volume, earning it the No. 1 and No. 3 ranks nationwide in the 2026 RealTrends Verified Rankings for sides and volume, respectively. 

This acquisition comes as other national brokerages, including fellow cloud-based firm The Real Brokerage, enter the franchising space through acquisition. 

This article was written by Brooklee Han and generated with the assistance of HousingWire Automation. It was reviewed by a HousingWire editor before publication. The system helps convert company announcements and industry data into HousingWire-style news coverage.