SAN FRANCISCO and BELLINGHAM, Wash., Sept. 21, 2021 (GLOBE NEWSWIRE) -- eXp Realty announced a joint initiative with New Story, a nonprofit that pioneers solutions to end global homelessness, to build 100 homes in the Morelos region of Mexico, which was devastated by a 7.1 magnitude earthquake in September of 2017 and is still trying to rebuild after four years. eXp Realty has committed to raising funds among its employees and network of agents, and in addition, Glenn Sanford, Founder, Chairman and CEO of eXp World Holdings, has pledged to match up to $300,000 in contributions with a goal of raising $600,000.
With the help of corporate and matching donations, each home averages $6,000 in construction costs and New Story works with local partners, equipped with the trust of communities and cultural competencies, to complete these builds. The result transforms dangerous living environments, including those impacted by natural disasters, into communities of safe, sustainable homes. One hundred percent of donations raised through eXp Realty will be directly applied by New Story to hire local workers and purchase local materials for the construction of the homes. Once families move in, New Story surveys the community over time to measure the exact impact a safe home has on the families’ lives.
“We are honored to work with New Story to provide relatively low cost, sustainable homes because we know the importance a home makes to families no matter where they live,” said Sanford. “We are passionate about bettering lives and helping communities around the globe and this area of Mexico is still in need of housing for those impacted. I wanted to personally show my commitment with this matching gift to help build safe, sustainable homes.”
The homes will be constructed using Ecoblock, a sustainable, resilient building material made from compressed earth that is four times stronger than traditional cinder blocks. Composed of 90% earth and 10% concrete, Ecoblocks are more affordable than traditional construction materials, are easier to reuse and create less waste. The construction approach also fuels the local economy by sourcing local material paid at fair prices.
“We see every day how eXp Realty agents around the world are operating from a purpose-driven perspective and this partnership with New Story is an opportunity to work together to make a real difference in the communities in which we operate,” said Michael Valdes, President of eXp Global. “The matching donation from our founder and CEO illustrates the sincere commitment of our leadership to give back and do what we can to help those in need find a home to call their own.”
eXp is headquartered in the United States and opened brokerage operations in Mexico in November 2020. It was eXp's first Spanish-language country in its global expansion and the perfect fit for eXp's community based culture.
"Our goal is to improve the resilience of communities for the long-term," said Brett Hagler, CEO of New Story. "eXp Realty's partnership allows us to keep implementing sustainable innovations to provide the lasting stability families deserve."
An estimated 1.6 billion people throughout the world currently live in inadequate shelter. New Story aims to change that with innovation and through partnerships such as eXp Realty. To learn more about eXp Realty and New Story’s partnership, go to newstorycharity.org/exp-realty.
About eXp World Holdings, Inc.
eXp World Holdings, Inc. (Nasdaq: EXPI) is the holding company for eXp Realty, Virbela, Showcase IDX and SUCCESS Enterprises.
eXp World Holdings and its global brokerage, eXp Realty, is one of the fastest-growing real estate tech companies in the world with more than 64,000 agents in the United States, Canada, the United Kingdom, Australia, South Africa, India, Mexico, Portugal, France, Puerto Rico, Brazil, Italy, Hong Kong, Colombia, Spain, Israel, Panama and Germany, and continues to scale internationally. As a publicly traded company, eXp World Holdings provides real estate professionals the unique opportunity to earn equity awards for production goals and contributions to overall company growth. eXp World Holdings and its businesses offer a full suite of brokerage and real estate tech solutions, including its innovative residential and commercial brokerage model, professional services, collaborative tools and personal development. The cloud-based brokerage is powered by an immersive 3D platform that is deeply social and collaborative, enabling agents to be more connected and productive.
For more information, visit https://expworldholdings.com.
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About New Story
New Story is a non-profit working to create a world where no human being lives in survival mode. The organization currently works in Mexico, Haiti, El Salvador, and Bolivia where they have funded more than 2,300 homes for families in need. Their 100% model ensures every penny of each donation goes to building homes while their organization overhead is covered by private donors. Learn more at newstorycharity.org.