AGNT, the parent company for eXp Realty and NextHome, posted revenue growth despite economic headwinds of high rates and sluggish home demand, the company announced during an earnings call Thursday.
Closed real estate sales transactions reached 131,000 in the third quarter of 2026, up 8% year-over-year, alongside a 10% jump in sales volume to $59.3 billion, executives said. That productivity pushed AGNT revenues to $1.4 billion over the quarter, up 6% from $1.3 billion a year ago.
Meanwhile, the company saw a net loss of $4.3 million over the quarter and 7% higher operating expenses from a year ago. AGNT’s adjusted EBITDA closed out the quarter at $17.1 million, down 3% from $17.7 million compared to the previous year.
Newly minted AGNT CEO Leo Pareja acknowledged the market is challenging, with existing-home sales expected to be near 4 million, inventory up about 7% year-over-year but still below pandemic levels and mortgage rates above 7.3%. He said the market was “not broken” but “resetting to normal” after two unusually strong booms.
Overall, the company saw agent count grow to 87,457 by the end of the third quarter, up 5% year-over-year (including NextHome, which was acquired earlier in the year).
Pareja attributed most of its agent attrition mostly to unproductive agents leaving eXp or NextHome, with 49% of those nonproductive agents leaving the real estate industry altogether in Q3. Newer agents to the company tend to join a team, where they get a stronger start, he added.
“With 44% of new agent joiners on teams in Q3, and this is important because agents on teams are 77% more productive than individual agents,” Pareja said.
The company’s Q3 earnings call came on the heels of AGNT, along with Keller Williams, HomeServices of America and Real REMAX Group, forming Open Real Estate, a new shared listing-data company. The new initiative uses standard fields for listings to be entered then distributes the data out to participating members, local MLSs, search portals and other platforms.
“When listings are fragmented or kept out of view, buyers can miss homes, and sellers reach fewer potential buyers,” Pareja said. Pareja noted that Open Real Estate’s startup costs have limited exposure for the rest of the business.
As mortgage rates stay north of 7% and home sales slow heading into the final stretch of the year, AGNT updated its guidance for the remainder of 2026. AGNT Chief Financial Officer Jesse Hill acknowledged the tough market conditions the company—and the entire industry—is facing.
“Rising interest rates continue to weigh significantly on housing demand, and we’ve seen that softening as we’ve headed into Q4 here,” Hill said. He added that market conditions, along with AGNT seeing “higher-than-baseline” legal expenses peaking in 2026, caused it to update its financial outlook for the year.
In late October, eXp reached a settlement with agent Anya Roberts who sued former eXp agents Michael Bjorkman and David Golden in 2023, alleging they drugged and sexually assaulted her at company events. Roberts also named the brokerage and founder Glenn Sanford in her federal lawsuit for allegedly ignoring or covering up a sex trafficking/recruiting scheme tied to its revenue-share model. The company has consistently denied all wrongdoing in connection to the lawsuit.
While the case was settled for an undisclosed amount, a separate, larger civil lawsuit from four other female eXp agents with similar allegations is ongoing. Hill said the company expects legal costs to “normalize” in 2027, but remain higher for the rest of the year.
Overall in 2026, AGNT expects revenue to reach $4.85 billion to $5.05 billion and adjusted EBITDA in the neighborhood of $40 million to $47 million, Hill noted.
