As part of eXp, Grand Lux Realty will operate out of White Plains, New York. Founder Michael Levy touted eXp’s technology as one of the brokerage’s selling points.
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As brokerages across the U.S. compete to beef up their agent rosters, eXp Realty announced Thursday that it just picked up an independent brokerage in New York’s Hudson Valley.
In a statement, eXp said “leading independent brokerage” Grand Lux Realty will bring “over 200 agents” with it to the company. Grand Lux is based in Westchester County, New York, and, according to the statement, “expects to exceed $100 million in annual sales” this year.
“The partnership marks a significant milestone in both companies’ growth trajectories, combining Grand Lux Realty’s local expertise with eXp Realty’s innovative, cloud-based platform,” the statement adds.
Michael Levy
Michael Levy founded Grand Lux in 2006. He praised eXp’s business model in the statement.
“It has great technology, an incredible and unique strategy, and the ability for me to take my team’s business to the next level.,” he said. “By joining eXp, we’re not just moving forward, we’re accelerating.”
Grand Lux’s move to eXp comes amid intense competition for real estate talent. That competition has grown especially heated in recent years thanks to higher mortgage rates and the resulting slower housing market. In response, companies such as eXp, Compass, Coldwell Banker and others have unleashed a steady stream of announcements about major recruiting victories.
In the case of Grand Lux, Thursday’s statement reveals that as part of eXp, it will consolidate multiple offices into a single location in White Plains. And Levy added that the move to eXp will begin “a transformative partnership.”
“With eXp’s support,” he concluded, “we’re not only aiming to exceed the $100 million sales mark but to redefine what’s possible for our agents and clients alike.”