Real Estate

EXp Begins Raising $600K To Build Homes In Mexico

EXp Realty announced Tuesday that it is trying to raise $600,000, which will be used to build homes in a region of Mexico that suffered significant damage during a 2017 earthquake.

The fundraising effort is part of a new partnership with non-profit New Story, which fights homelessness around the world. According to a statement, the goal is to raise $300,000 from eXp agents and employees, which would then be matched by a $300,000 contribution from Glenn Sanford, who founded the company and serves as the chairman and CEO of its parent eXp World holdings.

Once raised, the money would be used to build 100 homes in Mexico’s Morelos region. The region was the site of a 7.1 magnitude earthquake that killed 75 people and injured hundreds of others. The temblor also damaged and destroyed thousands of homes, and according to eXp’s statement the area “is still trying to rebuild after four years.”

To build the homes, New Story will partner with local contractors. The statement notes that each home costs about $6,000 to build. Building materials will include Ecoblock, which the statement describes as “a sustainable, resilient building material made from compressed earth that is four times stronger than traditional cinder blocks.”

“Composed of 90 percent earth and 10 percent concrete, Ecoblocks are more affordable than traditional construction materials, are easier to reuse and create less waste,” the statement continues. “The construction approach also fuels the local economy by sourcing local material paid at fair prices.”

According to the statement, 100 percent of the money raised during eXp’s efforts will be used for materials and local labor.

The fundraiser comes less than a year after eXp expanded operations into Mexico.

Glenn Sanford

Sanford expressed excitement about the project, saying in the statement “we know the importance a home makes to families no matter where they live.”

“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,” he added. “I wanted to personally show my commitment with this matching gift to help build safe, sustainable homes.”

Email Jim Dalrymple II

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