Did eXp Buy NextHome? What Actually Happened, and What It Means for Agents

Short answer: Yes. eXp World Holdings, the parent company of eXp Realty, acquired NextHome, Inc. The deal was announced May 7, 2026, and eXp's quarterly SEC filing says it was completed May 6, 2026. eXp did not buy Keller Williams.

I get asked about this a lot, usually in the form of "Did eXp buy Keller Williams?" It didn't. That rumor has been around for a while, and I covered it in Did eXp Buy Keller Williams?.

What eXp actually bought was NextHome, a national real estate franchise. That deal is real, it's done, and it tells you a lot about where the brokerage world is heading.

Here's what happened, what it means for agents, and what I'd pay attention to.

What eXp Actually Bought

NextHome is a franchise brand. It was co-founded in 2014 by James Dwiggins and Tei Baishik, and according to Inman's coverage of the deal, it grew to more than 5,400 agents and more than 500 franchisees across the U.S.

The key facts, from the companies and from eXp's own SEC filing:

• Buyer: eXp World Holdings, Inc., the publicly traded parent of eXp Realty.
• Announced: May 7, 2026, in NextHome's announcement.
• Completed: May 6, 2026, according to eXp's quarterly report filed with the SEC.
• Price: not disclosed. HousingWire reported that financial terms were not shared, and eXp's filing doesn't give one either.
• Brand: NextHome keeps its name, its leadership team and its franchise model, and the two companies continue to operate independently.

The Ticker Changed Too

The same week, eXp World Holdings changed its Nasdaq ticker from EXPI to AGNT. HousingWire reported the change took effect at market open on May 8, 2026, and that existing shareholders didn't need to do anything.

If you hold eXp stock, or you earned stock as an agent, it's the same company under a new ticker.

What Changes for NextHome Agents

According to NextHome's own announcement, daily operations for existing franchisees and agents are "not expected to change."

• Franchisees can choose between a Full Tech Stack and a Lite Tech Stack. The Lite option is a lower-overhead way to keep the brand, support and resources.
• Brokers keep ownership of their data under both options.
• NextHome owners and agents get access to eXp's broader network and resources.

What the announcements did not say: whether NextHome agents get access to eXp's revenue share or stock programs. Those are part of eXp Realty's model, not NextHome's franchise model. If you're a NextHome agent and that matters to you, get it in writing from your broker. Don't assume.

What Changes for eXp Agents

Day to day, nothing changes about how eXp Realty works. Same split, same cap, same revenue share structure.

What changes is the bigger picture. eXp described the deal as a move to a "multi-model platform": one parent company supporting both a cloud brokerage and a franchise system. HousingWire reported that agents may be able to move between the two models as their needs change, and that there's a cross-brand referral network and shared technology.

In plain terms:

• If you want to be an agent or run a team without owning a brokerage, eXp Realty's model stays the same.
• If you want to own a brick-and-mortar brokerage with your own brand presence, the NextHome franchise is now an option inside the same company.

That's a big deal for agents who eventually want to own something. A lot of my conversations with team leaders end up at "Should I go independent?" Now there's a third path under the same roof.

Why Big-Brand Consolidation Keeps Pointing the Same Direction

• Compass bought Anywhere in January, as Inman noted in its coverage.
• Real Brokerage bought RE/MAX in an $880 million deal announced in late April. Reporting on the close says it was completed August 24, 2026, and that Real intends to keep the RE/MAX brand.
• eXp bought NextHome in May.

eXp Realty CEO Leo Pareja called this the industry's "United, Delta, American" moment in the Inman piece. The big players are getting bigger, and the two biggest cloud brokerages both bought a franchise brand in the same quarter.

Here's my read as someone who's been in this business since 2005: the companies that are growing are the ones built around the agent's economics. Splits, caps, revenue share and equity. The franchise brands are being folded into those models, not the other way around.

That's the same reason I left Keller Williams for eXp Realty in 2019. My old KW office ran a 70/30 split with an $18,000 cap, plus a 6% royalty capped at $3,000. That's $21,000 a year before I kept every dollar. At eXp, it's an 80/20 split with a $16,000 cap.

What I'd Do If I Were a NextHome Agent

If you're with NextHome right now, here's my honest advice:

1. Don't panic and don't jump. The brand, leadership and franchise model are staying. Nothing forces you to move.
2. Ask your broker three questions. Does anything change in my split or fees? Is there any path for me to access revenue share or equity? What does the new tech stack mean for my tools?
3. Get the answers in writing. Announcements are not contracts.
4. Know your options. If what you really want is the agent-side economics (revenue share and stock), that lives at eXp Realty, not in the franchise model.

What I'd Do If I Were an eXp Agent

Keep doing what's working. The deal doesn't change your business this year.

But think longer term. If you've ever thought about owning a brokerage, you now have a franchise path inside the same company you already know. That's worth understanding before you make any move to go independent.

The Bottom Line

eXp did not buy Keller Williams. eXp World Holdings bought NextHome, completed in May 2026, and kept the NextHome brand running independently.

For agents, the takeaway is simple: the industry is consolidating around companies that give agents more ownership. Make sure your brokerage decision is about your economics and your long-term plan, not about the logo on the sign.

Want to Talk Through What This Means for You?

If you're weighing a move, or you just want a straight answer on how eXp's model would work for your business, let's talk.

Book a partnership call with me →

Revenue share and stock awards are not guaranteed and vary by agent. See eXp Realty's income disclosure.