HousingWireHousingWire
In its race against other brokerages to add agents, eXp Realty has scored big in California.
Prime Real Estate Team is leaving the white-label brokerage Side and taking its 21 agents to eXp. Led by the wife-and-husband team of Angelica Galeana Yost and Robert Yost, the team serves the Sacramento and Folsom areas of Northern California.
Robert Yost is a 19-year veteran in real estate, and Angelica serves as co-team lead and director of growth.
“We are thrilled to welcome Robert, Angelica and their team to eXp Realty,” CEO Leo Pareja said in a statement. “Their commitment to excellence and focus on growth perfectly align with our mission. eXp Realty continues to attract the best of the best, and we’re seeing tremendous quality growth globally as more top-tier agents recognize the value of our platform.”
According to RealTrends Verified, the team produced $126 million in sales volume in on 211 transactions in 2023.
“We had hit a ceiling with our previous brokerage and needed a platform that would give us more room to grow and, in turn, offer more value to our agents,” Robert Yost said in a statement. “eXp Realty’s unique structure, its Fast Forward Movement and the collaborative culture all stood out to us as being perfectly aligned with our goals.”
eXp is one of a few national brokerages that are adding agents and teams at a rapid pace. In September, CanZell Realty, which operates in 20 states, joined eXp along with New York-based Grand Lux Realty.
Brokerages have been under the gun since the National Association of Realtors settled the antitrust lawsuits against it in March for $418 million. New data from AccountTECH shows that larger brokerages are financially more sensitive to any drop in commissions than smaller brokerages. This is often due to the burdens of larger overhead costs tied to office space and middle management.
eXp also relieved itself of a major headache this week by settling the commission lawsuits for $34 million.
