EXp Realty is growing its footprint in the Pacific Northwest — and in the new homes market.
The international brokerage announced Tuesday that Feisal Ramjee, formerly an independent agent with a regional brokerage, is joining its growing team. Ramjee is based in Kirkland, Washington.
Ramjee brings a distinct edge to eXp: his expertise in new home sales.
The agent has had an exclusive partnership with Seattle-based homebuilder Merit Homes since 2019, selling the brand’s contemporary new construction properties. This year, he’s leading sales for 30 of the brand's houses, and he has 30 in the pipeline for 2026.
“When I’m selling a home, I don’t just know the specs,” Ramjee said in a statement. “I know why every decision was made.”
Ramjee has worked on nearly 130 deals in the past five years, valuing roughly $300 million, according to Homes.com.
Now that he’s joined eXp, Ramjee said he plans to expand his business beyond Washington into the Arizona housing market.
There's strong demand for newly built homes
Ramjee’s jump to eXp comes amid shifts in the housing market that have more buyers opting to purchase a new build instead of an existing home.
It’s a trend that’s resulted from high mortgage rates and a low supply of existing homes, according to industry insiders.
In fact, last year, the average differential between the price of a newly built house and an existing one was just $8,725, according to a National Association of Home Builders analysis of data from the U.S. Census Bureau and the National Association of Realtors. That’s significantly smaller than 2023 and the 10-year average.
Unlike the sellers of existing homes, homebuilders can more easily adapt to market conditions by building in more favorable areas or offering incentives to buyers that can offset rising prices and high mortgage rates.