Global real estate firm eXp Realty is adding another Southern California team to its bench of real estate agents as it continues its push for greater productivity.
The South Bay-based Palm Realty Boutique comes to the international brokerage with a 90-member group and $750 million in sales last year, according to a Wednesday press release. The firm is joining eXp’s luxury arm.
Palm Beach Boutique founder Brett Zebrowski said the move is part of his strategy to scale his brand that specializes in the South Bay real estate market.
“We’ve been courted by national brokerages for years, but I never wanted to lose what made us special,” he said in a statement. “eXp lets us keep our brand, our culture, and everything we’ve built and then gives us a Ferrari engine to power it further.”
“This isn’t a goodbye to who we are. It’s a hello to what we can become,” Zebrowski added.
EXp goes all in on recruiting teams of agents
The partnership also fits into eXp’s strategy. On Thursday, the brand reported its financial results for the three-month period ended in June.
While its agent count was down 5% compared to the same time a year ago, it had increased from the previous three months. And the brand also reported that there were 31% fewer agents who left eXp this year versus last year.
Executives at the brand said they were heavily investing in agent retention and recruitment, noting they were still focused on recruiting teams over individual agents.
“Our strategy to attract teams is working and helping drive the increase in productivity,” eXp Realty CEO Leo Pareja said during a Thursday call with investors to discuss the firm’s earnings.
