With approximately $2.5 billion CAD in 2025 sales volume, INITIA’s transition reflects a growing demand for scalable brokerage infrastructure that preserves brand identity, culture and agent connection.
BELLINGHAM, Wash., May 11, 2026 (GLOBE NEWSWIRE) — eXp Realty®, the most agent-centric™ real estate brokerage on the planet and the core subsidiary of eXp World Holdings, Inc. (Nasdaq: AGNT), today announced that INITIA Real Estate, a major brokerage organization with approximately 1,000 agents and support staff, has transitioned to eXp as INITIA, brokered by eXp. The move brings INITIA’s expansive network across British Columbia, Alberta, Ontario, Michigan, Florida, Mexico, and Colombia to the eXp platform.
Founded by Jonathan Yu, INITIA was built around a mission to give agents greater support, transparency and opportunity. The brokerage’s mantra, “Business Success. Together.” reflects its emphasis on collaboration, agent development and helping real estate professionals build sustainable businesses under a shared brand.
“INITIA’s move to eXp Realty says a lot about where the brokerage model is going,” said Leo Pareja, CEO of eXp Realty. “Brokerage leaders are looking for ways to scale smarter, support agents better and reduce the operational weight that can pull them away from growth. Jonathan has built a remarkable organization, and we are proud to help INITIA continue expanding while preserving the culture and brand its agents already know.”
“INITIA is exactly the kind of organization that represents the future of real estate in Canada,” said Nadia Habib, Managing Director of eXp Realty Canada. “They have built a strong brand, a connected culture and a clear commitment to helping agents grow. We are excited to welcome Jonathan, Ryan and the entire INITIA organization to eXp Realty Canada, and to support their next chapter with the scale, technology and agent-first infrastructure of eXp.”
INITIA recorded approximately $2.5 billion CAD in sales volume in 2025 and has grown steadily since its founding in Edmonton, Alberta, in 2015. The brokerage later grew further across Canada, opened in Mexico in 2021, and by 2025 had also expanded into the United States and Colombia.
“The cultures of INITIA and eXp are deeply aligned, especially with the agent-first focus,” said Jonathan Yu, Founder of INITIA. “The move will allow me to personally realign with the part of the business that matters most to me: fostering meaningful connections, mentoring agents, and ultimately showing up for my INITIA family.”
Originally introduced to eXp via Gregory Fawcett, and through subsequent collaborations with Randy Dyck and Phil Hahn, Yu said the decision to transition to eXp was unexpected, but became clear after learning more about eXp’s platform, tools, benefits and culture.
As part of the transition, INITIA will continue to operate with multiple teams and branch locations under the INITIA, brokered by eXp umbrella. The organization will retain its identity, local leadership and close-knit culture while gaining access to eXp’s cloud-based platform, training, technology, agent support and global referral network.
Yu said the move also reflects a broader shift in the brokerage landscape as operational demands, compliance requirements and technology needs continue to increase.
“Running a real estate brokerage comes with a lot of stressful responsibilities and compliance considerations,” Yu said. “With the ever-increasing compliance burden being placed on brokerages, it is becoming more difficult for smaller independent brokerages to operate, while still maintaining a human connection with its agents. For me, transitioning INITIA to the eXp platform made a lot of sense, because it allowed me to offload a lot of the administrative and compliance burden.”
Ryan Yu, Co-Founder of INITIA, said the move positions agents for a real estate environment being reshaped by technology, changing market cycles and evolving consumer expectations.
“With so much happening in the world right now, traditional real estate cycles are being completely thrown off across the board,” said Ryan. “The tools that eXp offers allow agents to stay ahead through training, and also have supplementary income streams.”
Yu said eXp Realty Canada offers large brokerage organizations the ability to scale while maintaining the identity and culture they have already built.
The transition marks a significant expansion for eXp Realty Canada and underscores eXp’s continued appeal to large teams, independent brokerages and growth-focused organizations seeking a scalable model that supports agents while reducing operational complexity.
About eXp World Holdings, Inc. (AGNT)
Built by Agents. Built for Agents. eXp World Holdings, Inc. (Nasdaq: AGNT) is the global parent company of eXp Realty®, the most agent-centric™ real estate brokerage on the planet, NextHome, Inc., an award-winning national real estate franchise, FrameVR.io, a virtual collaboration platform, and SUCCESS® Enterprises, a leading personal development and media brand for entrepreneurs. Together, the AGNT platform provides a world-class multi-model operating system empowering independent agents, franchise owners, and team leaders across the Americas, Europe, the Middle East, Asia Pacific, and South Africa. As a publicly traded company, eXp World Holdings prioritizes transparency, innovation, and long-term value for agents, franchise owners, staff, and shareholders.
Safe Harbor and Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements reflect the Company’s and its management’s current expectations but involve known and unknown risks and uncertainties that could impact actual results materially. These statements include, but are not limited to, statements regarding the anticipated success of agents or teams joining eXp Realty, future production goals or volume projections, and participation in or benefits derived from the Company’s platform, tools, compensation model, or equity programs. Important factors that may cause actual results to differ materially and adversely from those expressed in forward-looking statements include real estate market fluctuations, changes in agent retention or recruitment, competitive pressures, regulatory changes, and other risks detailed from time to time in the Company’s Securities and Exchange Commission filings, including but not limited to the most recently filed Quarterly Reports on Form 10-Q and Annual Report on Form 10-K. We do not undertake any obligation to update these statements except as required by law.
Media Relations Contact:
eXp World Holdings, Inc.
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Investor Relations Contact:
Denise Garcia
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A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/a75c0bc0-06b3-4175-83c6-6beaba6be628
